Fossilized fish linked to rare earths deposits

Chinese bullion imports at 2011 levels mix with record-breaking discounts in India as money pours into physical gold-backed ETFs.

Chinese and global steel output contracts by more than 7%.

Asia's biggest commodities trader by volume is on track to record its worst annual performance since its 1997 Singapore listing.

Industry sources also blame the ongoing rally in bullion prices for the drop.

Goldman Sachs report is the latest in a long line of grim warnings, all of which point to a future of shuttered power plants, mine closures, and bankruptcies.

They cover an area of 12,000 square km and could be rich in gold, iron ore, tin and tungsten, among others.

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The measure is part of a wider revision of the 2009 mining law that led to Indonesia's export edicts and other regulations.

All-in sustaining cost of gold is $US770 per ounce.