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Luxembourg invests heavily in space mining

First time a country partners with privates to boost the…

Chinese miners eye Glencore’s Kazakh gold operation

Zhongjin Gold Corp., Shandong Gold Mining Co. and Zijin Mining…

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Newcrest gold production up 16% in June quarter

Newcrest Mining, Australia's largest gold mining company, reported on Thursday that gold production rose 16% to 700,124 ounces during its June quarter. Copper production was slightly higher than the previous quarter at 20,127 tonnes. The company said cash costs of A$542 per ounce were higher than the previous quarter due to higher site costs and lower copper byproduct credits per ounce.

Grasberg gets new open-pit slope monitoring system

PT Freeport Indonesia (PTFI) Geo Services Division recently enhanced the slope monitoring system at Grasberg mine with the purchase of two IBIS-M radars. “Grasberg mine is one of the few mines in the world that utilises very high-technology monitoring equipment to help detect slope movements. The IBIS-M radars are top-of-the-line radars, using technology that is accurate to within approximately 0.1 mm, with coverage at some 2 km an area around 5 km square, and operating range of 10 m to 4,000 m,” explained PTFI Superintendent - Geotechnical Pit Engineering and Stability Rahadian Widiadi.

Wafi-Golpu copper-gold resource now a billion tonnes

Harmony Gold Mining upgraded the resource estimate for its Wafi-Golpu project in Papua New Guinea on Wednesday increasing it by 57% to over 1 billion metric tons, making it one of the highest grade copper-gold porphyry systems in South East Asia. CEO Graham Briggs said it was a "game-changing asset" for the company and the latest drilling results bring the Wafi-Golpu deposits within sight of Freeport-McMoran’s Grasberg mine across the border in West Papua, Indonesia, which was recently hit by strikes.

West Japan faces peak-hour power shortfall -ministry

Western Japan's electricity supply will fall 1.2 percent short of forecast peak demand for August, as five regional utilities' efforts to boost supply could not offset unplanned shutdowns this month of a nuclear reactor and a coal-fired plant, Japan's trade ministry said on Wednesday. Image of Fukushima Daiichi NPP in 2002 is from KEI

Jewelry making propels gold demand in China India

Rising appetite for Gold jewelry among households and investors in China and India is driving the global demand for the yellow metal, says a study conducted by the Dubai Multi-Commodities Centre (DMCC). China and India—two largest gold consuming nations in the world—have been driving gold demand in the world in the last few years.

World’s largest uranium reserves found in India: The Telegraph

The head of the Atomic Energy Commission said a four-year study has indicated that the Tumalapalli mine near the Indian state capital Hyderbad, which is scheduled to begin operating later this year, could produce up to 150,000 tons of uranium. The Daily Telegraph reports: "It's confirmed that the mine has 49,000 tons and there are indications that the total quantity could be three times that amount," Mr Banerjee said on a visit to a nuclear plant in the western state of Rajasthan on Monday. If that is the case, it will become the largest uranium mine in the world, he added.

India mining bill: states to get to call bids

The Hindustan Times reports India's new mining bill will empower state governments to hand out leases, take up prospecting and exploration activities before mines and call for bids for commercial utilisation of mineral deposits such as coal and iron ore. The Group of Ministers, which vetted the draft Mines and Minerals (Development and Regulation) Bill 2011 a fortnight ago, has given its nod for authorising and incentivising state governments take up "prospecting and exploration, so that adequately prospected ore bodies can be put on bid."

Surti diamond trader dies in Mumbai serial blast

A diamond trader of Surat died, while three others sustained serious injuries in the bomb blast that took place at Zaveri Bazaar in Mumbai, on Wednesday evening. Part of a group of traders that went to Mumbai for business, they were caught up in the bomb. Image from YouTube.