China imported a record amount of iron ore in 2017

Freeport McMoRan Copper & Gold Inc will produce 80 million pounds less copper and 125,000 ounces less gold due to labour strife at the company's Grasberg mine in Indonesia.

Indonesia surprised the global mining community last week after a new rule – Government Regulation No. 24 of 2012 – was quietly announced on the mining ministry's website. A growing list of nations – and not just radical fringe territories such as Zimbabwe or Venezuela – are pushing for greater control and ownership of the resource sector on top of higher taxes and royalties.

Reliance Resources on Friday issued an update in relation to the recently announced Indonesian Government Regulation No. 24 of 2012, regarding foreign ownership of mining projects after its share price took an 11% knock.

Mongolia's plans, first mooted in 2010, to sell a stake in its Erdenes Tavan Tolgoi coal-mining company  to the public faces more delays over politics and regulatory problems while talks with companies to developed the western block of the largest coking coal deposit on the globe are also on ice.

The country's deputy energy and mining minister says the new regulation that changes the rules on foreign ownership of mines applies to all companies and is not aimed specifically at Freeport McMoRan.

Indonesia will take more of the profits from its vast mineral resources by limiting foreign ownership of mines in a move likely to scare off new investment in the world's top exporter of thermal coal and tin.

Rio Tinto plans to invest $2 billion in an iron ore project in the eastern Indian state of Orissa to supply Indian and overseas clients, Sam Walsh, head of the miner's Australia-based iron ore division, told reporters.

A new study by India's central bank asks whether gold bullion as a safe haven investment has turned into an asset bubble and crucially, if that bubble should burst, would the subcontinent's financial system experience systemic damage.

The Business Standard reports now that platinum trades more in line with the gold price, Indian jewellery buyers are moving back into gold.