Asia Top Stories

Cat scales back room and pillar business

CAT said it remains committed to existing customers.

Gold prices up

December Comex gold was last up $7.40 an ounce at…

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Australia moves towards new coal port

Australia edged closer to the creation of a new 10 billion Australian dollar (US$10.02 billion) port focused on exporting coal to Asia when the state of Queensland allocated land to units of Brookfield Asset Management Inc. BAM +2.16% and India's Adani Group for two terminals at Dudgeon Point on Wednesday.

FT asks if Indians’ love of gold is destroying their economy

Based on new research by investment bank Macquarie titled India’s Fatal Attraction, the FT asks if India’s weddings are destroying its economy given the huge importance of gold in the culture – especially between October and January, when festival season turns into wedding season and some 20 million Indians tie the knot.

Tata launches new coal haulage truck with Allison transmission

Tata Motors, India’s market leader in commercial vehicles and the world’s fourth largest truck manufacturer, has launched the new TATA Prima 3138.K 8X4 tipper equipped with an Allison 4430R transmission at the 6th International Construction Equipment and Construction Technology Trade Fair (EXCON) 2011 in Bengaluru, which is organised by the Confederation of Indian Industry. The company states that the tipper model is ideal for carrying overburden in coal, iron ore, limestone and other applications involved in the heavy mining industry.

British Churchill Mining threatens Indonesian government with arbitration

London-listed Churchill Mining Plc is threatening Indonesia to seek international arbitration, saying that the company was unlawfully deprived of a US$1.8 billion coal discovery in the jungles of Borneo Island. The East Kutai project is a huge resource with a JORC compliant estimate of 2.7 billion tonnes of coal, acquired by Churchill in 2007 through an acquisition of a 75% stake in Indonesian group Ridlatama.