December 25, 2011

With mining sector in pits, GDP growth to take big hit

An unprecedented crackdown on corruption in India's mining industry, led by the Supreme Court and state-level agencies such as Karnataka's Lokayukta, coupled with rigorous enforcement of environmental norms is resulting…

December 25, 2011

2 killed in protest over Indonesia gold mine

Two people have been killed and 10 others injured during a violent protest over a planned gold mine in eastern Indonesia. The victims were among nearly 1,000 people in Lambu…

December 25, 2011

Mir mine in Yakutia: largest open pit diamond mine in world

Mirny Mine, the largest open pit diamond mine in world, is located in Mirny, Eastern Siberia, Russia

December 25, 2011

Copper traders bullish in two months on demand outlook

Copper traders are the most bullish since October as global inventories at a two year low add to signs that demand is improving. Sixteen of 28 analysts surveyed by Bloomberg…

December 25, 2011

De Beers, EU have cases to answer — Tomana

ATTORNEY-GENERAL, Mr Johannes Tomana, strongly believes world leading diamond company De Beers and the European Union have cases to answer for smuggling diamonds out of Zimbabwe and imposing illegal sanctions…

December 25, 2011

Ukraine to produce 36 million tonnes of steel in 2012

The Ukrainian parliament has forecast 3.8% growth in domestic pig iron production in 2012 compared to the expected results for 2011, increasing to 30 million tonnes. Production of steel is…

December 25, 2011

Russia’s gold reserves up 11 pct on the start of the year

Turkish central bank increased its gold reserves to 5.758 million ounces in November Europe’s largest gold producer Turkey’s gold reserves climbed last month after its central bank bouught 1.328 million…

December 25, 2011

Ukraine to issue gold, silver investment coins

Former Soviet republic of Ukraine is considering to mint more gold and silver coins and made it available for general public. According to Ukraine’s National Bank, launching of investment coins…

December 25, 2011

Chinese November stainless flat product exports up by 19pct YoY

According to data released by Chinese customs, China's exports of stainless steel flat products totaled 119,372 tonnes in November 2011, surged by 19% MoM in comparison of 100,029 tons in…

December 25, 2011

Lazare Kaplan: Banks Stole $135 Mln, Bankers Received Bribes

Lazare Kaplan International is suing KBC and the Antwerp Diamond Bank for allegedly stealing $135 million, claiming that the banks cooperated with diamond trader Erez Daleyot. LKI, which is seeking…