Analysts from Foster Stockbroking told investors to purge their shares in rare earths miner Lynas Corporation as there is no end in sight for the ongoing problems that have forced the company to halt operations in Malaysia.
China is delivering on its promise to consolidate its mining industry with the formation of a new rare earth mega miner, the new “mega-corporation” will “team up” with rare earth producers in the provinces Shandong, Gansu and Sichuan.
India's economy is growing at its slowest pace in nine years and investor confidence has also been eroded by the current government's frequent policy u-turns, corruption scandals and power blackouts.
Giant miner Rio Tinto is closing down its Blair Athol coal mine in Australia as the company considers whether to limit spending on new projects next year.
Artisanal miners in the Philippines are accused of causing environmental devastation but the miners vow to resist mining reforms announced by President Benigno Aquino.
Former president Nambaryn Enkhbayar was found guilty on corruption charges and sentenced to four years in prison just weeks after he made a political comeback with his Mongolian People’s Revolutionary Party as the junior partner in the new ruling coalition.
The Toronto-based company said in the report it continues to engage the government of PNG in legal proceedings held in Sydney Australia but that it has run into trouble with its German partners building a surface vessel for the operation which would lead to delays.