In bizarre twist, coal may become a scarce commodity: Russell

Gold’s strong start to the year was reinforced during the second quarter of 2011 where total global gold demand measured 919.8 tonnes (t), worth a near-record US$44.5bn, with broad-based support across all sectors and geographies. Standout markets were India and China, as these two markets accounted for 52% of total bar and coin investment and 55% of global jewellery demand, the World Gold Council announced today. Despite a higher gold price, Indian and Chinese demand grew 38% and 25% respectively during Q2 2011 compared to the same period of 2010. This growth is likely to continue, due to increasing levels of economic prosperity, high levels of inflation and forthcoming key gold purchasing festivals.

India’s iron ore exports could halve over the next five years as the country feeds the expansion of its steel industry and resource nationalism becomes a big driver of policy in Delhi. Lower shipments from India, which exports almost half the 200 million tonnes it produces, should help bolster prices that have more than tripled in three years before massive Australian projects come on stream around 2014. The global trade in iron ore which not long ago featured antiquated annual contracts and secretive pricing has been transformed and Singapore will this week launch the first global iron ore futures contract.

Copper was steady on Monday, supported by glimmers of economic resilience in Japan, a drawdown in inventories of the metal, and a softer dollar, but investors were wary after wild market swings last week.

Hiroko Kumagai will never forget the day in 1998 when she first stepped inside the red-brick building at the entrance to the closed and shuttered Miyahara shaft in the Miike coal mine. Image from YouTube

Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today announced its results for the quarter ended June 30, 2011. All figures are in US dollars, unless otherwise stated. Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today announced its results for the

Predictably in tandem with the BSE and the NSE which appreciated by 273 and 88 points respectively the pencil ingot prices recoiled at all centres.

MSN reports that nickel shot up in India to Rs 990.50 per kg in futures trade.

CNBC News reported that Indiaès demand for gold has not been stalled by rising metal prices.

Proactiveinvestors reports Regency Mines announced on Wednesday that its drilling work is continuing on the Mambare nickel joint venture in Papua New Guinea, but that visa delays may impact the planned work programme. The company said that the delays, caused in part by political uncertainty surrounding the appointment of a new government, could restrict the scale of the drilling programme. Papua New Guinea last week swore in a new PM and cabinet sweeping aside the old guard ahead of general elections next year.