Global aluminium production growth brakes sharply in 2018

Australia's Fortescue Metals, barely four year after starting commercial mining, said on Friday its year-on-year net profit surged 76% to just over $1 billion driven by resilient demand from China. Shipments by the world's number four exporter rose only slightly to 40 million tonnes, but the price it achieved jumped 68%. BHP Billiton, the world most valuable miner, is set to report a record $22 billion in annual profit on Wednesday thanks in large part to its iron business. The stellar numbers come as global blast furnace growth over the next five years is predicted to rise by a staggering 300 million tonnes as China's construction boom continues unabated. On top of that India's iron ore exports could halve over the same period further bolstering prices that in percentage terms have outclassed even that of gold as the world economy recovered post the 2008 collapse.

The world Zinc surplus for the first half of 2011 has increased by 8% compared to the entire 2010, with the Chinese inventories at historically highest levels reported the World Bureau of Metal Statistics (WBMS)

China, the world's largest consumer of iron ore, aims to develop and control resources, especially in west Africa, to gain a foothold on supply and tackle the hegemony of three iron ore suppliers – Rio Tinto , BHP Billiton and Vale. Chinese firms have signed a number of iron ore deals in Africa, which at their peak could contribute nearly 250 million tonnes of iron ore when they come on stream in the medium to long term.

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.

Chinese companies mull investing in Romania's nuclear and coal sectors, Mediafax reported after the visit of the Romanian government delegation, headed by PM Emil Boc, to China.

In the wake of the Fukushima meltdowns, some nations are looking to move away from nuclear power. But not China, which is proceeding with plans to build 36 reactors over the next decade. As a result of such climate change concerns, as well as the need for more power in developing nations, more than 60 reactors are under construction around the world today in countries like India, Russia and South Korea. Even the US is currently building one new reactor — the second unit at Watts Bar in Tennessee.

A blast in a coal mine in China killed 10 people, officials said Monday. The blast, due to accumulation of gas inside the mine, took place Sunday night in southwest Guizhou province, Xinhua reported.

The number of deaths caused by coal mine gas explosions in China declined sharply during the first half of this year, coal mine safety authorities said. A total of 245 people died in 62 gas explosions that occurred between January and June this year, a year-on-year reduction of 31.2 and 25.3 percent respectively, the State Administration of Coal Mine Safety said.

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