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World’s largest coal miner looking to buy metal mines abroad

Coal India's plan to diversify into mining metals such as…

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Strike at US mining giant in Indonesia to end

Workers at US company Freeport McMoRan's giant gold and copper mine in Indonesia's Papua region agreed on Monday to end a strike that has lasted more than a week. Workers at US company Freeport McMoRan's giant gold and copper mine in Indonesia's Papua

India’s demand for iron ore made of steel

Much has been made of China’s insatiable appetite for the world’s natural resources but demand growth from another Asian giant is changing the dynamics of the global steel market. Indian demand for steel grew 10 percent last year, helping push global demand to a record 1.4 billion tons in 2010. Over the past two years, India’s renewed economic growth has brought a dramatic increase in the country’s steel production as well as domestic consumption.

Freeport’s massive Grasberg copper-gold mine strikers call for Moffett

A strike paralyzing production at Freeport Indonesia's Grasberg mine, one of the world's largest sources of copper and gold, will extend into a second week after talks broke down between the company and workers, a union official said on Friday. The union, which represents 8,000 workers who have been on strike since Monday, asked U.S.-based Freeport-McMoRan Copper & Gold (FCX.N) to send Chairman James Moffett to the remote Indonesian mine to negotiate.

India joins China bidding for Afghan mining riches

While Western mining multinationals are conspicuous in their absence from any bids for Afghanistan's vast resources of copper and iron ore Tata Steel on Thursday joined other Indian steelmakers to bid for the Hajigak iron ore deposits 130km west of Kabul. So far only China has made any firm commitment to the country's mining sector with state-owned Metallurgical Corp's successful $3.4bn bid to build a copper mine – and a $6bn railway to go with it – that should enter production in 2014.

Coal India, other mining cos dip on draft mining bill approval

Shares of Coal India and other mining companies tumbled in morning trade on the Bombay Stock Exchange Friday after a ministerial panel approved a draft bill for the mining sector. Coal India fell to a low of Rs 361 in opening trade on the BSE, but later regained some lost ground and was trading at Rs 374.10, down 5.11 percent.

Indonesia’s Bayan signs 100 mn tonne coal deal with Indian firm

Indonesian coal miner Bayan Resources Tbk has signed a deal with India’s Universal Crescent Power Private Ltd to supply 100 million tonnes of coal over 15 years from 2015, the firm’s chief financial officer said on Friday. “It’s an index linked contract based on the Newcastle index (and) is fully compliant with the minimum pricing regulation,” Alastair McLeod told Reuters. “It’s not a fixed price contract, and so it will vary every month on delivery of the contract.”

Mineworkers around the globe unite for higher wages

Unrest and strikes in Indonesia, Chile, Australia and Africa, a shortage of skilled workers in North America and rising labour costs all over the globe are quickly becoming the most serious downsides of a mining boom that started almost a decade ago. While a historically high overall jobless rate is masking spiking wages in the resources sector in the US, workers in emerging markets are shutting down operations of mining companies deemed not to be sharing record profits fairly.