July 23, 2012

CNOOC-Nexen: China’s swoop shows sweet timing as Canadian crude discount halves

Despite a steep drop in the price of crude on Monday with US benchmark West Texas Intermediate down almost 4% in afternoon trade at $88.55, the price oil sands producers…

July 23, 2012

Chinese investors fleeced of billions by gold futures ring

A gold-futures trading ring in China's central province of Henan has fleeced more than 5,000 investors of over RMB380 billion ($58.62).

July 21, 2012

China’s Sino Iron mine in Australia just got $2 billon more expensive

The cost of building China's CITIC Pacific’s first iron ore mine in Australia, Beijing’s largest investment in the Aussie mining sector, has increased to a shocking $8 billion.

July 20, 2012

Australia’s former China ambassador concedes errors in Rio Tinto’s actions

Geoff Raby, Australia's former ambassador to China, has conceded that mining giant Rio Tinto (NYSE:RIO) committed errors in the lead up to a Chinese bribery scandal several years ago that…

July 19, 2012

Rare earth mining rights in China have just been cut in half

The Chinese government has halved the number of rare earth mining rights in the country pulling 65 permits in all, according to a report by ChinaDaily USA.

July 19, 2012

China set to lift ban on interbank gold trading further boosting demand

China represents about a quarter of global demand for the precious metal and allowing the country's banks to trade gold directly with each other should boost demand further.

July 19, 2012

Iron ore price spirals to 8-month low; traders draw 2008 comparisons

Chinese import prices are now the lowest since November 8 2011, when the steelmaking ingredient was recovering from a crash in October. During that month iron ore shed $60 a…

July 19, 2012

Copper hits 2-week high on China easing hopes

Copper strengthened further on Thursday in a generally stronger base metals sector on comments from China Premier Wen Jiabao which was interpreted as suggesting possible further monetary easing there.

July 19, 2012

China Mining United to launch potential $2 billion equity fund for Africa mining deals

China Mining United Fund plans to establish a collaborative China/Africa equity fund to pursue minority stakes in gold, iron-ore and metal companies in Africa and other parts of the world,…

July 18, 2012

Discovery of rare earth minerals on ocean floor could break Chinese stranglehold

Recent discoveries of rare earth minerals at the bottom of the Pacific Ocean could break China's existing stranglehold on supply of the key raw materials.