United Arab Emirates Mining News

UAE’s Emirates Steel refinances $650 million of debt with new loan, sukuk – sources

The company hired BNP Paribas to coordinate a $400 million sharia-compliant loan financing.

Vale and Emirates Steel sign major deal

Emirates Steel requires inputs of around 6 million tonnes of iron ore pellets per year.

DGCX opens Shanghai Gold Futures

The Dubai Gold and Commodities Exchange is entering as a global player in precious metals with its Shanghai Gold Futures contract (DSGC).

This oil nation aims to colonize Mars

The UAE may not be the first country that comes to mind when one thinks of space exploration, but it has big plans to colonize mars, and it’s got the oil money to do it.

Blood diamonds still at Central African mining sector’s heart

A year after an export ban on raw gems in the country, reports show its diamonds are being sold to traders from Sudan to Belgium.

Australia to begin exporting uranium to the Middle East

The deal, signed in 2012, could see Aussie miners exporting up to 800 tonnes of yellow cake a year to the Middle East by the end of the decade.

Dubai gold trade reached $75 billion in 2013

The figure represents almost 40% of the world's physical gold trade last year.

Money laundering, terrorism financing diamond trade in India, Israel, Belgium, Canada and the US — report

Global diamond trade is being used to launder illegal funds worth millions of dollars, claims polemic study.

Dubai's weight loss champions get gold; city says next year's reward will be 'bigger than gold'

City paid winners a total of 16.8kg in gold on Thursday.

Payday for Dubai's gold-backed weight loss challenge

Contestants who lost more than four pounds are paid in gold.