Asia Mining News

Saudi miner said to weigh world's biggest rights issue in a year

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.

India gold prices flip to premium as demand picks up

Dealers charged a premium of about $1 an ounce over official domestic prices.

Philippines exempts gold sales to central bank from taxes to boost foreign reserves

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.

Vedanta wins bids to explore and mine two Indian copper blocks

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.

BHP more bullish on long-term EV prospects

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.

Lynas to move upstream processing of rare earths from Malaysia to Australia

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.

StanChart is said to hire JPMorgan's top mining banker in Asia

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.

Anglo Asian's Azerbaijan gold output rises 22% in 2018

Gold output rose 22% in 2018 to 72,798 ounces from 59,617 ounces in 2017.

Over 40% of minority shareholders of Turquoise Hill oppose independent directors

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.

JX Nippon Mining appoints new president, sets out long-term vision

Seiichi Murayama, senior executive officer, will become its new president on June 26, replacing the current president Shigeru Oi.

Turquoise Hill’s role in Oyu Tolgoi-related decisions may change this week

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.

World’s largest hard rock lithium mine to get bigger

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.

Trump bans trade in Iranian metals, ratcheting up tensions

The latest order aims to discourage foreign companies and countries that may still be trying to maintain business with Iran.

Diamond tycoon fails in third UK bail attempt as assets frozen

Fugitive diamond merchant Nirav Modi’s third attempt to get bail has been denied by a UK court.

Indonesia chases manufacturing hub dream as commodities wither

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.

Gold imports by India are said to have jumped ahead of festival

Inbound shipments grew to 121 tons last month from 52.8 tons a year earlier.

Gold glitters in India during key festival as prices dip

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 miners continue to cut costs, up production and finally – raise more money

Gold mining industry entered 2019 in much better shape.

US, allies propose financing for power plant for Papua New Guinea gold mine

The Wafi-Golpu mine in Papua New Guinea is considered one of the world's largest untapped gold resources.

Oil holds above $60 as supply concerns counter Trump trade talk

Oil recovered from early declines after U.S. President Donald Trump threatened to escalate his trade war with China.

Hong Kong exchange to launch dollar-denominated mini contracts for base metals

The new offering comes five years after a similar product fizzled on the Singapore Exchange (SGX).

Massive base metals mine in Myanmar to start production in 2021

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.

Asia gold – lower prices, festive demand boost purchases in India, Singapore

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 Tinto speeds up exploration at Winu copper find in Western Australia

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.

Tesla warns of coming battery minerals shortage

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.