The estimated value of the bars is of $1.4 million
Middle East Mining News
In the wake of announced production cutbacks by Kazakhstan's state-owned uranium mining powerhouse, Kazatomprom, the beleaguered uranium market has seen an upswing.
The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran
Over the last 15 years, America has been turning away from traditional oil suppliers in the Middle East to more trusted sources, closer to home.
Risk, from a mathematical perspective, is the probability of an event multiplied by its potential impact.
While there are billions of reasons to cut output, and every major producing country is reeling from the loss of revenues, some are weathering the current bust better than others, but the devil is in the details, and the details contain tons of variables.
The rift between Saudi Arabia and Iran has quickly ballooned into the worst conflict in decades between the two countries.
Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.2 million barrels per day (b/d) in September, down 60,000 b/d from August as Saudi Arabia further reined in supply, according to a just-released Platts survey of OPEC and oil industry officials and analysts.
OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil.
Consolidation is coming to the oil and gas industry, says Brandon Dobell of William Blair & Co.
Persian treasury at Persepolis held 7.2M lbs of gold.
Talks about current events that could spark a commodities rally.
Host of competing factors trap precious metal.
Emerging markets may give support going forward.
Mideast violence, Fed rate stance, India duty also concerns.
The Middle East has dominated the world of oil for half a century and as the list below shows, it remains king.
The figure represents almost 40% of the world's physical gold trade last year.
Dubai-based Kaloti Jewellery Int'l, one of the world's largest gold refiners, denies it paid out over $5 billion in cash for gold from African war zones.
Human rights group says one of world's largest refiners Kaloti Jewellery Int'l failed to report $5 billion in potentially suspicious transactions.
President Elect Rohani stated that he will work to improve Iran’s relations with countries around the world.
A mixed picture is starting to emerge from the Middle East in terms of oil production.
Water shortages may end Jordan’s nuclear power hopes
OPEC points to risks in US energy independence.
Iran inaugurated on Saturday an iron ore concentrate plant, with the production capacity of two million tons per annum, in the city of Zarand, southeastern Kerman Province, ILNA reported.
The Dubai Chamber of Commerce and Industry and the Southern Gujarat Chamber of Commerce and Industry recently consolidated their bilateral trade ties through an MoU signed during a recently concluded trip to Surat by the Dubai Chamber Trade Mission.