Asia Mining News

Apple in talks to buy cobalt directly from miners — report

Electronics and car makers are racing to lock in supply agreements for cobalt amid fears of shortage.

Miners rich in cash are aiming for fat dividends, debt payments

The mining industry is awash with cash, and so far it’s got two main uses — pay down debt and reward investors.

Glencore gives investors $2.9bn in dividends after ‘strongest’ results ever

The Swiss miner and commodities trader Glencore said its solid finances will let it to pursue more acquisitions if opportunities arise.

Mongolia says can build power plant to supply Oyu Tolgoi mine

Tensions have mounted between the Mongolian government and its fellow shareholders in Oyu Tolgoi, where Rio Tinto is operating a huge underground extension.

Toyota to make cheaper electric motors by halving use of rare earths

Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.

Australian Mines signs off-take deal with Korea's SK Innovation

Australian Mines said the agreement included an option for SK Innovation to buy up to 19.9% of its ordinary shares.

Mining M&A jumps to 4-year high – expect more in 2018

New report says "deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry."

Indonesia hands Freeport, Amman, quota for 2018 copper exports

Freeport McMoRan Inc was issued a quota to export 1,247,866 wet metric tonnes (wmt) of copper concentrate up to Feb 15, 2019.

US Commerce Department proposes hefty import curbs on steel, aluminum

Some U.S. lawmakers and steel and aluminum users have urged caution in any restrictions to avoid disruptions or price spikes in the raw materials.

Rio Tinto’s Mongolian copper worries mount

Ulaanbaatar orders Rio Tinto to build domestic power plant for $5.3 billion expansion of Oyu Tolgoi copper-gold mine.

Vale’s iron ore output hit record high in 2017

Output of the steelmaking material reached 366.5 million tonnes last year, boosted by record high productionat Vale's northern system, which composed of its Carajás, Serra Leste and the massive S11D mine.

INFOGRAPHIC: The true costs of artisanal mining

Artisanal and Small-Scale Mining (ASM) has become a major of revenue for millions of people in about 80 countries worldwide, with more than 100 million people currently depending on the activity for their livelihoods. But at what costs?

Freeport, Amman awaiting green light on 2018 Indonesia copper exports

Freeport's export permit for Grasberg, the world's second-biggest copper mine, is due to expire on Friday, as is Amman's permit to ship ore concentrate from its Batu Hijau mine on the island of Sumbawa.

IAMGOLD closer to deciding future of Ontario gold project

Company expects Côte Gold project to create as many as 1,200 jobs during the construction phase, estimated to last two years.

Global thermal coal market to grow 5% in 2018

The chief coal analyst at Noble Resources said on Tuesday that imports to India will rise after falling in the last two years.

Resource-rich Mongolia rejects cap on foreign workers for 2018

Some members of Mongolia's parliament sought to limit the number of new resident permits granted to foreigners to 100 per year to protect domestic jobs.

BHP takes $1.8 billion hit from US tax reform

Charge is due to due to cuts in the US Federal corporate income tax rate, the world’s biggest mining company said.

Soaring cobalt prices force Samsung SDI to mine metal from old phones

The firm is also trying to halve use of cobalt in batteries from around 20% by raising the proportion of nickel, and it will start researching on development of nearly cobalt-free batteries.

Asia Gold-Price dip perks up demand ahead of festive, wedding seasons

Spot gold has declined about 1 percent so far this week and was headed for a second straight weekly drop due to a recovery in the dollar.

Adani's giant Australian coal mine takes hit as rail plan axed

A funding proposal for a rail line that could carry its coal to the coast for export has been canned.

Cameco’s profit beat estimates on improved uranium prices, cost-cutting drive

Canada’s top uranium producer is seeing the first improvements brought by higher prices and drastic cost-cutting measures, including the recent haly of its flagship McArthur River mine in northern Saskatchewan.

Gold price: Value of ETF bullion tops $100 billion for first time in 5 years

New report shows money continues to pour into gold-backed exchange traded funds with North American investors responsible for 75% of January inflows.

Coal buyers spooked by Indonesia's new shipping rules

Indonesian coal buyers holding back orders of fuel after government issued new shipping rules for coal and crude palm oil that restricts exports to vessels.

Vedanta hit by iron ore mining halt in Goa

Company's shares fell as much as 5.5% on the news that the Indian Supreme Court had cancelled all the 88 existing iron ore mining licences in the Indian coastal state of Goa.

Ivanhoe boss said he’d pay higher taxes in Congo if it benefits locals

Robert Friedland, founder and executive chairman of Ivanhoe Mines, said he would be happy to pay higher taxes if there is stability in Congo's rules and transparency in the accounting of those royalties.