US blacklists Myanmar state-owned gems enterprise

The oval stone, set in a ring embellished with smaller diamonds, sold after a three-minute contest. It was estimated to sell for as much as $42 million.

Indonesia expects to conclude deal with Freeport-McMoRan Inc. by February that will see the U.S. miner shed its majority ownership of Grasberg mine.

The business intelligence firm says output will pick up, supported by higher gold prices and solid projects in key countries.

The government and industry want reactors restarted to cut electricity bills, but swathes of the public oppose returning to atomic energy.

The five-year cooperation agreement covers the exchange of information and expertise on the exploration and mining of out-of-earth resources.

Representatives of major mining companies believe the global copper market will be balanced for the foreseeable future even as mine supplies tighten and demand from China, the world's top consumer, remains strong.

Analyst Hui Shan said that Goldman’s projections see iron ore falling to $60 a ton in three months, $55 in six and $50 in 12.

Taconite-pellet plants and ore-concentrating firms produced 29 million tonnes last year, down from 33 million tonnes in 2015.

“The one thing this industry does very well is mine gold at a loss,” Randgold Resources CEO Mark Bristow told analysts at a breakfast meeting on Friday.