August 20, 2012

Coal deal lost India $33 billion, says auditor

India’s official auditor accused the government of losing more than $33 billion in potential revenue by transferring coal mining blocks too cheaply to private companies.

August 20, 2012

Australia’s Queensland coal industry hits new wall as Yancoal reviews expansion

Already running at a loss or struggling to stay in the black, most thermal coal mines in Australia's Queensland are now facing additional challenges as exports drop and major projects…

August 19, 2012

Alrosa’s move may ‘rescue’ Indian diamond sector

Alrosa announced this week that it sold rough diamonds to the Russian state gem repository Gokhran for the first time in three years.

August 19, 2012

First Karnataka iron ore mine restarts, but export ban stays

The restart of iron ore mining in Karnataka amid multi-year low prices for the commodity is not seen to impact the global seaborne trade in the near-term.

August 18, 2012

Indian media slams government over lack of coal mine auctions

Indian media on Saturday slammed the embattled government after a damning report by the country's auditor estimated that the exchequer lost billions of dollars by failing to auction valuable coal…

August 17, 2012

Oyu Tolgoi start-up, costs under threat from Mongolia–China stand-off

Rio Tinto would have to build its own power plant and delay commercial production if the two nations cannot come to a deal during long-running power negotiations.

August 17, 2012

Central banks double last year’s gold buys

Central banks demand for gold in the second quarter reached 157.2 tonnes, a record high and more than double last year's Q2.

August 16, 2012

China Gold International reports 2012 first half financial and operational results

Revenue increased by 20% from $128.4 million in the six months ended June 30, 2011 to $154.1 million in the six months ended June 30, 2012.

August 15, 2012

TVI Pacific Inc. files an updated NI 43-101 for its balabag gold project

Based on drilling completed to the end of June 2011, estimates include an indicated mineral resource of 1.78 million tonnes averaging 2.34 g/t of gold and 72.3 g/t.

August 15, 2012

Coal expansion imperils water resources in China’s northwest

A new report released by Greenpeace claims that China's insatiable demand for coal could imperil fragile water resources in the country's vast north-western hinterland.