Iron ore is still a long way behind other commodity markets, such as crude oil, where paper trade exceeds physical by large multiples.
SINGAPORE Mining News
Last week Hong Kong Exchanges and Clearing started trading iron ore futures.
The Singapore Diamond Investment Exchange (SDIX) has launched a new investment-grade, standardized diamond product to rival gold as a safe-haven asset.
Swiss-based mining giant Glencore says it will pay a new entity within its global chain to market and distribute its coal as it moves to close its Singapore office.
ANZ predicts that as incomes rise across Asia, particularly in China and India, so will the appetite for gold rings and necklaces.
Moves seeks to establish Singapore as centre for precious metals after the government removed 7% goods and services tax on investment-grade gold, silver and platinum in October 2012.
Gold consumption in the country fell to 569.5 tonnes, with the weakness in the yuan adding to higher spot prices.
Part of regional efforts to set new price standards.
Of the 70 pirate attacks so far this year, 53 have been in the waters off Southeast Asia and West Africa and some 50 crew remain in captivity.
Acquisition comes a day after Linc said it wants to get de-listed from the Australian market to re-list it in Singapore, in hopes of luring Asian investors.
The new vault can hold up to 200 tonnes of gold bullion.
A trademark row involving the long-established Diamond Exchange of Singapore (DES) and two-year-old Singapore Diamond Exchange (SDX) looks set to be settled in the High Court.
Singapore's sovereign wealth fund Temasek Holdings has taken up a 5.5% stake in Canada's Ivanhoe Mines valued at roughly $420 million ahead of a $1.8 billion rights offer at the miner. Early Monday Ivanhoe, already down 43% this year shed another 3.8% in value.
A second major physical iron ore trading platform, supported by major mining companies and Chinese steelmakers will launch this Wednesday, competing directly with China's new own platform in a race to create an industry price benchmark.
While the long-closed and suppressed country of Myanmar holds elections and starts to haltingly open up, Jim Rogers says the country has an amazing potential, similar to China when it first undertook its economic revival.
In its annual ranking of countries in terms of political risks for mining investment, the mineral industry advisory firm Behre Dolbear, has ranked Australia, Canada, Chile, Brazil and Mexico as the top five nations in which to locate mining projects.
Singapore's Nava Bharat Pte plans to start construction of a 300 megawatt (MW) coal-fired power plant in Zambia by the end of 2011 and complete it by 2014, company director Ashwin Devineni said on Saturday. "We have finalised the detailed layout of the power plant initially for 300 MW and later for an additional 300 MW," Devineni said in a statement.
Known as the Mine Safety IP66 Light Bar, it was designed and developed by Motion Perfection Industries (MPI) – a 12-year-old company with a product range of 2,000 items and more than 500 outlets in […]