MINING.COM

All that wealth and now somewhere to put it

Located somewhere under 'a building within the international airport compound' in Hong Kong, Malca-Amit's vault is designed to hold 1,000 tonnes of gold – roughly 22% of the gold bullion currently at Fort Knox.

Joshua Zapf | July 26, 2012 | 7:27 am

China’s rare earth exports plunge by over 40%

The volume of rare earth minerals legally exported from China for the first half of 2012 plunged by 42.7% year-on-year to hit 4,908 tons according to statistics from China's customs authorities.

Marc Howe | July 26, 2012 | 3:24 am

Australian miners seek a wealth of opportunities in a new Myanmar

Australian exploration and mining firms are readying themselves for forays into Myanmar following the end of decades of military rule earlier this year and the country's opening up to foreign investment.

Marc Howe | July 26, 2012 | 2:53 am

Quest Petroleum to raise AUD$5 million for oil and gas exploration in South Sumatra

Quest Petroleum NL (ASX:QPN) has announced that it will undertake a placement to investors to raise $5 million for its ongoing drilling program at the Ranau oil and gas projects in South Sumatra.

Marc Howe | July 26, 2012 | 2:48 am

Arrested Australian warns of Indonesian business perils

An Australian mining businessman facing the prospect of five years in an Indonesian prison has warned others of the perils of doing business in the South-east Asian giant, saying he 'got caught like a spider in a web.'

Marc Howe | July 26, 2012 | 2:08 am

Hecla Mining could scupper U.S. Silver/RX Gold & Silver merger with all-cash bid

Hecla Mining Company (NYSE:HL) has made an all-cash offer for U.S. Silver Corporations (TSX-V:USA) in a bid to scupper its proposed merger with RX Gold & Silver (TSX-V:RXE).

Marc Howe | July 26, 2012 | 12:42 am

Shanghai rebar meltdown: The last time Chinese steel cost this much iron ore was trading at $70

Chinese rebar prices are now 8% lower than October 2011 lows, while iron ore prices remain 5% higher.

Frik Els | July 25, 2012 | 11:53 pm

Seven coal miners dead after explosion in northern Mexico

An explosion on Wednesday in a coal mine in northern Mexico killed seven miners, officials said, highlighting lax safety conditions in small mines that are often poorly regulated.

Reuters UK | July 25, 2012 | 9:50 pm

Harmony up 7% as punters bet Wafi-Golpu pre-feasibility will map out a Grasberg rival

Release of a pre-feasibility study for Wafi-Golpu in Papua New Guinea is expected any day now and punters hope drilling results that put the deposit into the same league as Freeport-McMoran’s Grasberg mine across the border in West Papua, Indonesia are confirmed.

Frik Els | July 25, 2012 | 7:40 pm

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