SINGAPORE Mining News

Glencore Asia hires ex-Goldman Sachs oil trader for derivatives desk

Glencore has hired Daniel Liu, a former Singapore-based trading manager at Goldman Sachs, to join its derivatives desk in Singapore.

India, Singapore buyers cash in on slight price correction

This is a good time for people looking to buy gold, especially businesses.

BHP hit with $59 million tax bill on Singapore profits

Federal Court said BHP must pay tax in Australia on profits made by its Singapore-based marketing arm on the sale of commodities owned by the UK arm.

Australia's ANZ bank closes Singapore gold vault

"ANZ has suspended its physical precious metals custody service as it does not align to our business strategy at this time"

BHP said to owe $215m in underpaid iron ore royalties to Western Australia

State claims BHP used its wholly-owned Singapore marketing hub subsidiary to understate the price of iron ore sold Japan and China buyers.

Singapore's Alliance Minerals reframes lithium supply deal, seeks new customers

Several new Australian lithium mines started production in the past year, with global demand expected to surge on take-up of electric vehicles.

Asia Gold-Safe haven lure fails to lift demand; Indian jewellers stock up

Physical gold demand lacked vigour in most Asian hubs this week as limited safe haven interest failed to lift activity into the year end.

Asia Gold-High prices leave demand in the doldrums ahead of holidays

If prices come down, we might see some buying because both the new year and the Chinese new year are coming up.

BHP to pay $390m to settle tax bill dispute over Singapore business

The issue relates to the amount of tax BHP owed for selling its Australian commodities via its Singapore marketing business — or allegedly shifting its profits offshore.

Dyson picks Singapore to build electric cars rivaling Tesla

From vacuum cleaners to electric vehicles.

Flow of LME nickel to hidden storage dents bull story

465,000 tonnes of nickel play 'hide and seek'

China plans to launch iron ore options in 2019

As the world's top buyer of the steelmaking raw material looks to offer more hedging tools to iron ore producers and steelmakers.

'I was cheated' – Tales from the collapse of a commodity giant

A former Singapore civil servant recounts how he’s lost almost $36,600 in the implosion of Noble Group Ltd.

China opening may spark iron ore to become more like crude oil: Russell

Iron ore is still a long way behind other commodity markets, such as crude oil, where paper trade exceeds physical by large multiples.

Hong Kong taking on Singapore for iron ore trading dominance

Last week Hong Kong Exchanges and Clearing started trading iron ore futures.

Move over gold, diamonds may become one of the greatest safe-havens

The Singapore Diamond Investment Exchange (SDIX) has launched a new investment-grade, standardized diamond product to rival gold as a safe-haven asset.

Glencore to pay new entity in global chain to market coal

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.

Gold price to double by 2030 thanks to Asia: report

ANZ predicts that as incomes rise across Asia, particularly in China and India, so will the appetite for gold rings and necklaces.

Singapore kilobar gold trading to debut mid-Oct

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.

China’s falling out of love with gold, demand drops 19%

Gold consumption in the country fell to 569.5 tonnes, with the weakness in the yuan adding to higher spot prices.

Singapore gold-price contract seen fueling demand

Part of regional efforts to set new price standards.

Maritime piracy shifts to Atlantic, Southeast Asia

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.

Done deal: Rio sells mothballed Blair Athol coal mine to Linc Energy

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.

Deutsche Bank opens $9 billion gold vault in Singapore

The new vault can hold up to 200 tonnes of gold bullion.

High Court to settle 'diamond exchange' trademark row

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.