Saudi Arabian Mining Co. is weighing a plan to raise as much as $5 billion through a rights offering that could be the biggest since mid-2018.
Asia Mining News
Dealers charged a premium of about $1 an ounce over official domestic prices.
By law, all gold produced by small miners in the Philippines should be sold to the central bank at around market price, but miners have circumvented taxes introduced in 2011 by selling on the black market.
The news comes a day after Zambia said it planned to strip Vedanta-controlled Konkola Copper Mines of its mining licence for breaching deal terms.
The world's largest miner has revised up expectations for electric vehicle sales and market penetration, but warns the electrification of the transport sector will proceed only as fast as the development of charging infrastructure does.
The Australian miner, the world's only major producer of rare earths outside China, said the A$500 million-plan ($346 million) aims to boost production, appease Malaysian regulators and fend off takeover attempts.
Michael Willoughby has been named co-head of metals and mining for the region at Standard Chartered and will be based in Singapore, sources said.
Gold output rose 22% in 2018 to 72,798 ounces from 59,617 ounces in 2017.
Sailingstone, its second biggest investor, flagged its vote in an open letter last month, citing governance issues and the board's lack of engagement with minority investors.
Seiichi Murayama, senior executive officer, will become its new president on June 26, replacing the current president Shigeru Oi.
SailingStone Capital, the second largest shareholder in Rio Tinto- controlled Turquoise Hill is expected to vote against the re-election of the Canadian miner’s board members this week.
Talison Lithium, a partnership between China’s Tianqi and U.S. group Albemarle, obtained an environmental approval for the A$516-million ($361m) expansion of the Greenbushes mine in Western Australia.
The latest order aims to discourage foreign companies and countries that may still be trying to maintain business with Iran.
Fugitive diamond merchant Nirav Modi’s third attempt to get bail has been denied by a UK court.
Indonesia plans to open up more sectors to foreign investors and reboot its stringent labor laws to become a regional manufacturing powerhouse rivaling Germany and South Korea.
Inbound shipments grew to 121 tons last month from 52.8 tons a year earlier.
A rise in consumption by the world's second-biggest gold consumer could help global prices which are currently hovering near a 4-month low.
Gold mining industry entered 2019 in much better shape.
The Wafi-Golpu mine in Papua New Guinea is considered one of the world's largest untapped gold resources.
Oil recovered from early declines after U.S. President Donald Trump threatened to escalate his trade war with China.
The new offering comes five years after a similar product fizzled on the Singapore Exchange (SGX).
Bawdwin will be the world’s No. 3 producing lead mine and the tenth largest silver operation. It’s also set to become a significant zinc producer.
Gold demand was robust in India and Singapore this week as a correction in prices ahead of a key gold-buying festival boosted purchases.
Rio has so far drilled 24 holes at the site and will continue extensive drilling in months to come as part of its $250 million exploration program.
The electric vehicles pioneer is worried about the effects of booming demand for EVs will have on the supply of minerals needed to manufacture rechargeable batteries.