Asia Mining News

World Gold Council announces update to AISC guidance

It is expected that companies may choose to use the updated guidance starting January 1, 2019.

Volkswagen to spend $50 billion on electric car 'offensive'

German automaker is also considering involvement in battery production.

Komatsu autonomous haulage system sets new haulage record

The Japanese firm's truck has achieved the unprecedented milestone of more than two billion tonnes of surface material moved autonomously.

Vedanta sells copper concentrate from stockpiles at shuttered India smelter

The Tamil Nadu state disconnected the smelter's power supply in May following anti-pollution protests that turned violent and culminated in the police opening fire, killing 13 protesters.

Asia Gold-India swings to premium; benchmark price dip lends appeal elsewhere

Dealers in India were charging a premium for the first time since early September -- of up to $3 an ounce over official domestic prices this week.

Philippines to allow some halted mines to resume operations with conditions

The nine mines, six of which are nickel operations, have been shut since 2017 as part of an environmental crackdown on the sector.

India state may cancel NMDC's Donimalai mine lease in levy dispute

Following the news, NMDC shares fell as much as 7.4 percent to 99.20 rupees, their lowest since July 25, marking their biggest single-day fall since Aug. 9.

India's steel giants to focus on product mix, quality to take on ArcelorMittal

ArcelorMittal's entry into India comes at a time when Indian steel demand is growing at the fastest pace in the world.

India's Jindal Steel and Power posts Q2 profit on one-time gain

Total revenue from operations jumped 63% to 99.82 billion rupees, while revenue from its iron and steel segment surged 73 percent to 86.45 billion rupees.

Caterpillar steps up game to keep leadership in North America

In the past two years, Cat  has  been  working  on  growing  its  offering,  particularly  in  the  underground  segment,  as  well  as  filling  up  some  gaps  in  terms  of  trucks  sizes.

Key festivals light up Indian demand

We were initially skeptical about Diwali demand but it jumped this week, despite higher prices - Harshad Ajmera, the proprietor of JJ Gold House

Indonesia's Inalum sells $4B in bonds to fund Freeport purchase

The deal came amid choppy global markets, rocked by trade concerns and slowing economic growth in Asia - including Indonesia.

Japan's Sumitomo Metal cuts FY profit forecast on lower metal prices

Sumitomo Metal cut its full-year forecast, blaming lower-than-expected metal prices amid the U.S.-Sino trade spat, and reduced nickel output.

Indonesia hauling ban could paralyse South Sumatra coal mining – Assoc

Indonesia's South Sumatra province plans to ban coal transporters from using public roads from Nov. 8

How to avoid the resource curse? Take 6 years to approve deals

To avoid the resource curse Afghanistan needs to stop illegal mining.

Asia Gold-India's festival week fails to spark demand

Diwali is just a week away but there is no improvement in demand.

Nippon Steel first-half profit falls 4% on rising costs, slower output

Nippon Steel plans to step up crude steel production in the October-March period, predicting an output of 21.6 million tonnes for the six months, above 20.58 million tonnes a year earlier.

Australian Mines shares soar after partnering with Indian firm to produce key battery metal

Second major R&D collaboration this year to examine the use of scandium in next-generation battery storage technology.

China's CNNC seeking overseas partners to secure uranium

"Our vision is to be the world's leading uranium company" - Ni Tao deputy manager of China National Uranium Co Ltd

India's Vedanta Q2 profit falls 34.3%, but beats Street

Aanalysts expected the miner to post a profit of 12.68 billion rupees.

Japan's Mitsui may sell stake in Australia thermal coal mine

Mitsui has said it will trim its thermal coal assets in the long term but would continue to invest in coking coal - a key raw material for steel-making.

ICMM introduces innovation roadmap for cleaner mining vehicles

Following two innovation summits between ICMM members and suppliers, a governance model for collaboration has been designed.

Japan's JFE, Kobe Steel cut profit outlook on glitches, higher costs

JFE cuts crude steel output plan due to glitches, heavy rains.

Chaarat Gold buys Armenian mine from Russia’s Polymetal for $55m

Deal is part of Chaarat’s intention of becoming a major regional player in Central Asia, with an annual production of 1 million ounces, which aims to reach through acquisitions.

Chaarat Gold says Centerra refused C$2B offer for firm, not just Kumtor

The gold miner has given up on Kumtor and decided to focus its efforts on completing a deal for Armenia-based Kapan Mining instead