Asia Top Stories

The EU starts to lead the Kimberley Process

Even though the system has received criticisms, its 54 participants…

Moroccans continue to protest against the “mines of death”

Protesters met with authorities but no agreements were reached, so…

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Newmont faces probe in Indonesia

Newmont (NEM), the U.S. mining group, is under investigation in Jakarta, where antigraft authorities said they are reviewing claims the group may have breached rules on the foreign ownership of mining assets.

Aspire Mining lifts Ovoot coking coal production targets to 12 million tpa

Mongolian-focused coking coal explorer Aspire Mining Limited has lifted production expectations for its Ovoot Coking Coal Project (Ovoot) based on the latest compilation of coal washability test results. Results from recent coal washability testing confirm a very high theoretical yield of 80% to produce a product with 8% ash content and CSNs of 8 to 9, making it potentially the lowest ash coking coal product in Mongolia.

Middle East and Asian demand boost India’s gold exports

India, the world's top gold importer, may have just turned net exporter over the last couple of months given the high level of exports of gold jewellery, medallions and coins from the country. Export of items of the yellow metal rose to a staggering $1.24 billion during March and April 2011.

Teck updates coal guidance: coal sales slow due to Japanese earthquake

Teck Resources provided an update today to its coal guidance for the second quarter. As a result of the February earthquake and tsunami in Japan, some of Teck's coal customers have deferred shipments due to reduced steel production requirements and Teck now expects coal sales in the second quarter at the low end of its previously announced guidance range of 5.5 to 6.0 million tonnes.

Imports of gold and silver soar 222% in India

The import of gold and silver by India has risen by a whopping 222% between April and May 2011, as compared to a year ago. In the month of May alone, imports were a staggering $9 billion, with gold demand growing 25%. "Even as inflation and a widening trade deficit to $15 billion in May continues to weigh on the minds of Indian investors, the demand for fresh gold has continued to grow."

Mongolia close to offering Tavan Tolgoi mine to 3 or 4 bidders

Mongolia may share its Tavan Tolgoi coal mining project between a majority of the six bidders shortlisted by the government and ask them to work together, Prime Minister Sukhbaatar Batbold told Bloomberg in an interview adding that the final decision is “very close.” Coal production in Mongolia doubled last year to become the nation’s top export earner, spurring the government to push through development of one of the world’s biggest unexploited deposits of the mineral. Peabody Energy Corp., a Shenhua Group Corp.-Mitsui & Co. venture, Vale SA, a Russia-Japan-South Korea group, ArcelorMittal, and Xstrata Plc were all shortlisted.