Asia Mining News

Vale’s first quarter profit lower than expected as rains hurt iron ore output

Net income totalled $2.5 billion, compared with profit of $525 million in the prior three months and almost $1.8 billion a year earlier.

BHP puts US shale assets back on the block amid investors pressure

The miner said decision was unrelated to Elliott Management's call earlier this month to unlock shareholder value by spinning off about $22 billion of BHP's US oil assets.

Freeport shares off to the races on Grasberg update

World's top listed copper miner cuts production outlook for the year, but impact of dispute with Jakarta more contained than thought.

Caterpillar soars as first quarter sales jump for first time in over two years

The giant equipment maker's quarterly profit surged past estimates helped by a recovery in most of its end markets.

India’s Supreme Court won’t try forcing UK to return Kohinoor diamond

The court said it cannot interfere in the diplomatic process nor can it direct another country to not auction the gem.

Vale’s iron ore output just hit another record

Production of the steelmaking raw material jumped 11% to 86.2 million tonnes in the January-March period, compared to the same quarter a year earlier.

Climate change and risks to fossil fuel industry: sustainability train has left the station

Burning coal, oil, and natural gas is responsible for two-thirds of humanity’s emissions of greenhouse gases, and yet provides more than 20% of GDP in two dozen nations.

Freeport, Indonesia work out initial Grasberg exports deal

The Indonesian unit is now in the process of obtaining a full export permit.

Turkmenistan opens bid process for country’s second potash plant

The new plant, to be based at the Karabil potash deposit, is estimated to be worth about $1.4 billion.

Gold price goes up… and then slightly down

The yellow metal ended the U.S. day session modestly down at $1,286.20 an ounce

Vietnam authorities to investigate illegal gold mining

Dozens of people flock to the Bong Mieu mine every day to extract gold

British scientists find sub-sea minerals treasure trove

They have found valuable minerals atop an underwater mountain, which is basically a huge flat-topped mound of some of the scarcest materials on Earth.

Copper production jumped by a million tonnes last year

But market was in small deficit according to study.

Iron ore market keeps getting uglier — prices at lowest since November

The commodity is now trading below $70 a tonne and has just suffered its largest one-day percentage decline in over a year.

Lead price boost as deficits set to widen

New report says despite a slowdown in China, falling mine production will push lead prices higher over the next five years.

The 20 largest stock exchanges in the world

With 2,400 listed companies and a market cap of $20 trillion, the NYSE is the biggest exchange in the world. But how do other exchanges compare?

Coking coal price soars past $300

Coking coal price has doubled in two weeks – storm damage to rail lines could affect Australian exports for another four weeks.

Australia ready to begin exporting uranium to India — Prime Minister

Shipments will start almost nearly three years after the two countries signed an export deal for peaceful power generation.

Iran foresees sharp rise in uranium production

Iran’s nuclear chief says the country will produce about 40 tonnes of uranium this year, more than half the total amount yielded over the preceding years.

Coking coal price close to $300 a tonne on Australian disruptions

Coking coal prices gained 86% to $283.10 a tonne this week, the biggest gain in four years.

INFOGRAPHIC: Animation – The world's population in 2100 by region

The following animated chart is based on data and projections from the U.N. Population Division, and it shows the evolving population share by region between 1950 and 2100.

Rio Tinto to fight $447 million Australian tax bill

The amount is linked to what is known as “transfer pricing” between Rio Tinto’s Australian operations and its Singapore office.

Erdene Resource moving forward with flagship project in Mongolia

While the company had other projects in the country, the Bayan Khundii gold project went from greenfield prospect to being its main asset in roughly nine months.

‘Conflict minerals’ entering tech supply chains from countries beyond Africa — report

Tungsten, tin, tantalum and gold are now also being illegally extracted and traded at sites under the control of armed groups in countries including Myanmar and Colombia.

Gold finds strong support from negative real rates

In case you haven’t already noticed, inflation has been steadily creeping up since July. In February, the most recent month of available data, consumer prices advanced at their fastest pace in five years, hitting 2.7 percent year-over-year.