Asia Top Stories

Rio Tinto walks away from India Bunder diamond project

The project, discovered in 2004, was expected to generate about…

Adani $12 billion Carmichael coal project clears latest hurdle

A federal court dismissed challenge from a traditional owner to…

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BIV: Prophecy coal delivers historic shipment to Russia

A Vancouver-based company is behind Mongolia’s first shipment of coal to the Republic of Buryatia in the Russian Federation. On Wednesday, Prophecy Coal (TSX-V:PCY) said it had shipped 650 tonnes, or 10 wagons worth, of coal from the company’s Ulaan Ovoo mine in Mongolia to an energy company in southeastern Russia.

Zijin Mining planning $280m U.S. dollar-denominated bond issue

Zijin Mining Group Co Ltd said it plans a $280 million U.S. dollar-denominated bond issue, raising capital to acquire copper concentrate overseas for a smelter project of its unit. In a filing to the Hong Kong bourse on Tuesday, Zijin Mining said the bonds would have maturity of five years and a fixed interest rate of 4.25 percent per year during its term with interest payable semi-annually.

Newmont faces probe in Indonesia

Newmont (NEM), the U.S. mining group, is under investigation in Jakarta, where antigraft authorities said they are reviewing claims the group may have breached rules on the foreign ownership of mining assets.

Aspire Mining lifts Ovoot coking coal production targets to 12 million tpa

Mongolian-focused coking coal explorer Aspire Mining Limited has lifted production expectations for its Ovoot Coking Coal Project (Ovoot) based on the latest compilation of coal washability test results. Results from recent coal washability testing confirm a very high theoretical yield of 80% to produce a product with 8% ash content and CSNs of 8 to 9, making it potentially the lowest ash coking coal product in Mongolia.

Middle East and Asian demand boost India’s gold exports

India, the world's top gold importer, may have just turned net exporter over the last couple of months given the high level of exports of gold jewellery, medallions and coins from the country. Export of items of the yellow metal rose to a staggering $1.24 billion during March and April 2011.