December 16, 2011

Selling pressure pushes gold prices down in India

Gold prices in India have been sliding all week, falling below the crucial $531.66 per 10 grams level for the first time in six weeks in New Delhi on Friday.

December 16, 2011

Adani Enterprises to invest $ 4bn to develop coal mines

Adani Enterprises is looking to invest USD 4 billion to develop coal mines and also eying possible listing on London exchanges, reports The Economic Times.

December 16, 2011

Augur Resources identifies bulk copper and gold at Wonogiri, Central Java

Augur Resources (ASX: AUK) has intersected broad zones of gold and copper mineralisation at the Wonogiri Project in Central Java.

December 15, 2011

Steel consumption in India dips

Although earlier predicted to grow at a CAGR of around 10% between 2010 to 2013, steel consumption in India has slumped despite the government's proactive plans to boost economic growth.

December 15, 2011

RINL scouting for iron ore, coal mines

Rashtriya Ispat Nigam Ltd (RINL) is scouting for iron ore and coal mines in Andhra Pradesh, Jharkhand, Rajasthan, Chhattisgarh, Odisha and Uttar Pradesh, according to a statement by RINL.

December 14, 2011

Why Ivanhoe, Rio Tinto are so keen on Mongolia

It has been said that the best place to look for a new mine is next to an existing mine. -- Harris Kupperman, Mining Services Primer, Nov. 10, 2009. If…

December 14, 2011

Coal demand to grow by 600,000 tonnes a day over the next five years, says IEA

Global demand and prices for coal will continue to expand aggressively over the next five years despite public calls for reducing reliance on the high-carbon fuel as a primary energy…

December 14, 2011

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…

December 14, 2011

Indonesian workers, Freeport agree on wage hike to end three-month strike

Indonesian workers at Freeport-McMoRan’s largest gold and copper mine said they were ready to end a three-month strike after the company reportedly agreed to a 37 percent wage hike.

December 13, 2011

Rio Tinto wins battle against Ivanhoe’s ‘poison pill’ rights plan

An arbitrator has ruled that a "poison pill" rights plan erected by Ivanhoe to try and stop a Rio Tinto takeover, does not apply to the latter, leaving Ivanhoe vulnerable…