October 7, 2011

Selling to the rich? Look to the US not China or India

A new report from research firm TNS could have implications for mining. A survey of affluent households around the world — defined as greater than $100,000 — found that 80%…

October 7, 2011

No competitive auction for some coal blocks govt

The Coal Ministry has indicated that certain coal blocks out of 54 acreages that were tipped to be put up for competitive bidding will be awarded on a nomination basis…

October 7, 2011

Vedanta Resources suffers from Indian iron ore ban

Vedanta Resources, the enormous mining and metals company has seen a 36% decline in production of saleable iron ore compared to the first half of 2010. The dramatic fall is…

October 7, 2011

Hindustan Zinc mined metal output grow 2 pct in Q2

Source: IRIS (07-OCT-11) Comments | Post Comment Hindustan Zinc has released production data for the second quarter and half year ended 30 Sept. 2011. Mined metal production in Q2 and…

October 7, 2011

Realm Resources secures 51 pct of thermal coal project

Realm Resources announced that it has completed the acquisition of Kalres and through Kalres acquired 51% of PT Katingan Ria, an advanced thermal coal exploration project located in Central Kalimantan,…

October 6, 2011

Ivanhoe gains 13% after Mongolia backs down on Oyu Tolgoi

Shares of Ivanhoe Mines (TSE:IVN) and Rio Tinto (ASX:RIO) both gained today on news that Mongolia has backtracked on a demand for a greater share of the massive Oyu Tolgoi…

October 6, 2011

$70-million mill and mine upgrade for gold producer

Philippines-focused gold producer Medusa Mining is set to under-take a $70-million remodelling of its current Co-O mill and mine site in order to increase its yearly production target to 200,000…

October 6, 2011

NTPC shuts three units in Dadri on coal shortage

Shortage of coal has forced the country’s largest power producing company, NTPC Ltd, to shut down three of the four 210 mw units at its Dadri plant.

October 5, 2011

Steel, iron ore prices likely to soften as demand destruction in China takes hold

John Garnaut identifies a disturbing trend for iron ore exporters, with Chinese steel prices falling and iron ore prices expected to follow, he writes in the Sydney Morning Herald. Garnaut…

October 5, 2011

Commodities may rally 20 pct on emerging-markets growth, Goldman Sachs says

Commodity prices may advance 20 percent over the next year as growth in emerging markets offsets the impact of the sovereign-debt crisis in Europe and a slowdown in developed economies,…