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Asian gold strategy clarifiying

China is switching attention to its own back yard which…

STOP LOSS: Iron ore price recovers 3% for the week

After eight straight weeks of declines and the first dip…

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Zimbabwes 1H Diamond Production Exceeds 2M Cts

Zimbabwe’s diamond production reached 2.329 million carats in the first half of 2011 with the bulk coming from the controversial Marange fields, Finance Minister Tendai Biti reported to Parliament on Tuesday. The Treasury expects production to ramp up in the second half to reach 8.2 million carats for the full year, which would be slightly lower than the 8.435 million carats mined in 2010.

Mongolia state-owned miner signs coal deal with China’s Chalco

Mongolia's state-owned miner Erdenes Tavan Tolgoi (TT) has agreed to sell $250 million worth of coal from the east Tsankhi deposit to Aluminium Corp of China Ltd (Chalco) , a move insiders said was aimed at raising cash to help fund its impending listing fees. Under the agreement, Chalco would resell 30 percent of the coal to Japanese trading houses Itochu Corp and Mitsui as well as state-owned Korea Resources Corp (KORES), Erdenes TT LLC said in a statement seen on Wednesday.

Copper mine ‘could rival Olympic Dam’

REX Minerals has forecast more copper from its Hillside project in SA, releasing a blueprint for a 12-year mine to almost rival Olympic Dam in size. "The conceptual study supports our view that Hillside is one of Australia's largest copper development opportunities," managing director Steven Olsen said.

Copper gains as strike enters fifth day at Escondida

Copper rose the most in more than two weeks on speculation that a strike at the world’s biggest mine may worsen a global supply shortage. A strike at BHP Billiton Ltd.’s Escondida mine entered a fifth day as Chilean labor authorities prepared to mediate talks between union and company officials.

Newmont to up Ahafo in Ghana gold production to 1.2 million ounces

Newmont Ahafo Mine at Kenyase, in the Asutifi District of the Brong Ahafo Region, has targeted to increase its annual gold production to 1.2 million ounces by the year 2014. The company has spent $22.3 million on its alternative livelihood programmes for 1,700 households and farmers, affected by its mining activities. Picture of traditional leaders supplied by the Newmont Ahafo Development Foundation.