R/€ = 15.63 Change: 0.01
R/$ = 13.93 Change: 0.00
Au 1426.11 $/oz Change: -13.05
Pt 846.89 $/oz Change: -8.55

Asia News

Bluebird nears permit grants for South Korean gold mines

By: Marleny Arnoldi     4th July 2019 London-listed Bluebird Merchant Ventures is eagerly awaiting the granting of permits from the South Korean government for the Gubong and Kochang gold projects. The company in mid-June published a prospectus which set out its expected timetables for the projects.  

Metso Minerals, Outotec combine forces

By: Marleny Arnoldi     4th July 2019 Metso Minerals, subsidiary of global industrial company Metso, will merge with Finnish-listed technology company Outotec to form a leading process technology, equipment and services company serving the minerals, metals and aggregate industries. The combined company, to be named Metso Outotec,... 

Metso Minerals, Outotec combine forces
Metso CEO Pekka Vauramo

India's top court sides with indigenous people over illegal mining fallout

By: Reuters     4th July 2019 Indigenous people in an Indian state must be protected from illegal mining and the pollution it causes, the country's top court ruled, providing a "historic" victory to tribal groups fighting for better rights over land and natural resources. Indigenous people, who own much of the land in... 

OceanaGold files for injunction against local govt

By: Esmarie Iannucci     4th July 2019 Gold miner OceanaGold has filed for an injunction to ensure that operations at its Didipio mine site, in the Philippines, continues, after the Governor of Nueva Vizcaya directed local government units to ‘restrain any operations’ of OceanaGold. Following the Governor’s orders, a local government... 

Gindalbie shareholders back Ansteel deal

By: Esmarie Iannucci     4th July 2019 The shareholders of Gindalbie Metals have voted in favour of a takeover offer from shareholder Ansteel. The 2.6c a share takeover offer from Ansteel was announced in March this year, allowing simultaneous plans to demerge Gindalbie’s subsidiary Coda Minerals, which holds the rights to a... 

Gulf shareholders smile as supply chain links

By: Esmarie Iannucci     4th July 2019 ASX-listed Gulf Manganese on Thursday saw a 20% increase in its share price after the acquisition of its first high-grade manganese mine in Timor, and securing direct shipping ore for export from Indonesia. The company has told shareholders that it had vended the Putra Indonesia Jaya high-grade... 

Vedanta to invest $245m on Indian oil, gas blocks

By: Ajoy K Das     4th July 2019 Anil Agarwal-led resource major Vedanta Limited will invest around $245-million in natural gas and crude oil over the next four years in licenses it bagged for 10 blocks across India. Vedanta said in a statement that “the company has been successfully awarded 10 exploration blocks across Indian... 

ERM acquires CSA Global

By: Tasneem Bulbulia     3rd July 2019 Sustainability consultancy ERM has acquired CSA Global, a mining, geological, technology and management consulting company. CSA Global provides technical and management consulting services, as well as independent corporate advice to mining and exploration companies and financial and legal groups... 

Europe thinks like China in building its own battery industry

By: Bloomberg     3rd July 2019 The European Union is starting to act like China when it comes to building the batteries that will drive the next generation of cars and trucks. In the past few months, government officials led by European Commission VP Maros Sefcovic have joined with manufacturers, development banks and... 

Gold's rally gets booster shot as Trump picks doves for the Fed

By: Bloomberg     3rd July 2019 Gold resumed its rally above $1 400/oz on a cocktail of positive drivers, with weak data feeding expectations for fresh easing from central banks, Treasury yields hitting a two-year low, and the US President seeking to reshape the Federal Reserve board with two picks seen as doves. Bullion... 

Deep sea mining could destroy 'our last frontier', environmentalists say

By: Reuters     3rd July 2019 As India readies for the United Nations to give a green light to deep sea mining and boost its economy, the environmental group Greenpeace said on Wednesday that drilling the seabed could cause irreversible harm and worsen climate change. Without proper governance of the seas, mining could... 

Greenpeace calls for global oceans treaty before deep sea mining is pursued

By: Marleny Arnoldi     3rd July 2019 Environmental organisation Greenpeace International warns that the world’s oceans could face severe and irreversible harm from deep sea mining unless tighter environmental safeguards are put in place. A new report published by the organisation, titled ‘In Deep Water’, shines a light on the... 

Greenpeace calls for global oceans treaty before deep sea mining is pursued

Lydian lenders agree to extend forbearance agreement

By: Nadine James     3rd July 2019 TSX-listed Lydian International has entered into a second amended and restated (A&R) forbearance agreement with its senior lenders, stream financing providers and equipment financiers. Lydian previously reported that following a change in the Armenian government in May 2018, demonstrations and... 

Oil plunges in worst reaction to Opec since 2014 on demand woes

By: Bloomberg     2nd July 2019 Oil had its worst reaction to an Opec meeting in more than four years, with prices sliding just after the cartel agreed to prolong production curbs as fears about the global economy mount. Futures closed down 4.8% in New York, the steepest decline since May 31 and the biggest drop after an Opec... 

DRA Global awarded process, engineering design contract for Kazakhstan project

By: Tasneem Bulbulia     2nd July 2019 DRA Global has been awarded the process and engineering design contract as part of a definitive feasibility study (DFS) for JSC Tin One Mining’s Syrymbet project, in northern Kazakhstan. DRA’s scope of work includes the design of a concentrator plant, as well as that of the immediate... 

DRA Global awarded process, engineering design contract for Kazakhstan project
Syrymbet project

Gold resumes trek higher as weak economic data point to stimulus

By: Bloomberg     2nd July 2019 Gold rebounded from its biggest decline in more than two years on signs of fresh strains on the global economy. Prices rose after factory activity across Asia and Europe shrank in June, while the US showed only meager growth, according to purchasing managers’ indexes. This signaled a worsening... 

Gold resumes trek higher as weak economic data point to stimulus

Freeport-McMoRan expects Q2 loss, cuts gold sales outlook

By: Reuters     1st July 2019 Freeport-McMoRan said on Monday it expects to report a loss in the second quarter, hit by lower gold production, weaker copper prices and higher costs, sending the US miner's shares down nearly 6%. The shares were further pressurized as gold prices fell following signs of easing trade tensions... 

Moody’s forecasts slower base metals performance in short term 

By: Marleny Arnoldi     1st July 2019 Moody’s Investors Service has maintained a stable outlook for the global base metals industry despite expecting performance in the sector to weaken over the next 12 to 18 months. The financial services company says the base metals sector’s performance will weaken as a result of continued trade... 

Moody’s forecasts slower base metals performance in short term

CNG working to expand output at Tajikistan gold mine

By: Tasneem Bulbulia     1st July 2019 Mineral exploration and mining company China Nonferrous Gold (CNG) successfully completed construction of the mine site at its Pakrut gold project, in the Republic of Tajikistan at the end of 2018. Following the successful completion of infrastructure and construction works at the mine site, the... 

Gold sinks most in a year as trade truce deals blow to bulls 

By: Bloomberg     1st July 2019 Gold opened the third quarter with a slump back below $1 400/oz after the US and China agreed to a truce in their trade war, dealing a blow for now to havens that were bolstered in recent months by the long-running tensions as well as prospects for looser monetary policy. Prices fell after Donald... 

Gold sinks most in a year as trade truce deals blow to bulls

Opec+ is close to finalising a charter for long-term cooperation

By: Bloomberg     30th June 2019 Opec+ nations are close to finalizing a “charter” for a long-term alliance, with a document likely to be signed as soon as this week, said two delegates. Members of the group received a revised draft of the document on Sunday that appeared to have broad support, one of the delegates said, asking... 

Chinese-US rare earth war could prompt India to overturn beach sand ban

By: Ajoy K Das     28th June 2019 Rising trade tensions between the US and China and the latter's threatening to leverage rare earth supplies in the trade war are likely to prompt the Indian government to reverse the ban on private beach sand mining imposed earlier this year. With China expected to tighten global supplies of rare... 

India halts Iranian crude oil imports amid US assurances on supplies

By: Ajoy K Das     28th June 2019 India has ended crude oil imports from Iran, following the US administration’s assurance of adequate supplies to meet the country’s import-dependent energy needs. While there has not been any official confirmation that crude oil imports from Iran have ceased, sources said that government-owned... 

Indian iron-ore market dichotomy of rising imports, rising domestic production

By: Ajoy K Das     28th June 2019 A dichotomy in Indian iron-ore production/supply dynamics has emerged with the government claiming no shortage of the steelmaking raw material, while imports surge at the same time. In a statement before Parliament, Mines Minister Pralhad Joshi said: “There is no shortage of iron-ore in the... 

Gold set for best month since Brexit vote with G20 on horizon

By: Bloomberg     28th June 2019 Gold is extending its rally to head for the biggest monthly climb since the UK voted to leave the European Union in June 2016. Prices have surged to the highest since 2013 on expectations for looser monetary policy, rising geopolitical tensions and slower global growth amid a prolonged US-China... 

Gold set for best month since Brexit vote with G20 on horizon
US President Donald Trump is meeting China's Xi Jinping at the G20 summmit, in Japan, this weekend.

Triton welcomes new cornerstone investor

By: Esmarie Iannucci     28th June 2019 China’s Jinan Hi-Tech is set to invest A$19.5-million into ASX-listed Triton Minerals through a share placement and the acquisition of shareholder Shandong Tianye Mining’s 19.3% stake in the company. Subject to shareholder approval, Jinan would subscribe for A$8.5-million shares in Triton, taking... 

Didipio still going – OceanaGold

By: Esmarie Iannucci     28th June 2019 Gold miner OceanaGold has rubbished reports that production at the Didipio mine, in the Philippines, has been halted. The denial followed reports from an environmental organisation that claimed the provincial government of Nueva Vizcaya had ordered a stop to operations, in the wake of its... 

Blyvoor to begin producing gold again from Q4 – Skeat 

By: Martin Creamer     27th June 2019 Gold mining is to resume at the old Blyvooruitzicht gold mine in the last quarter of this year, Blyvoor Gold executive chairperson Peter Skeat has told Mining Weekly Online. “We’ve worked very hard and we’re at the point of moving ahead. We’ve got cash, we’ve got no debt, and the employees and... 

Blyvoor to begin producing gold again from Q4 – Skeat
Photo by Creamer Media's Dylan Slater
From left Martin Creamer, Peter Skeat, Alan Smith and Richard Floyd.

India’s Mines Ministry makes contingency plans for expiring mining leases

By: Ajoy K Das     27th June 2019 India’s Mines Ministry is drawing up contingency plans to offer a three-year extension for merchant mining leases slated to expire in March next year. Sources in the Ministry said that while the government is pushing state governments to initiate the auction of about 288 mining leases expiring... 

Andhra Pradesh govt in southern India rescinds bauxite mining order

By: Ajoy K Das     27th June 2019 The newly elected government of southern Indian state of Andhra Pradesh has rescinded an order issued by a previous government permitting bauxite mining along the Eastern Ghats around Vishakhapatnam. By recinding the bauxite mining order, the TSR Congress-led government, elected last month, met... 

OroTree will not exercise right to acquire ERPM mining infrastructure assets

By: Tasneem Bulbulia     26th June 2019 Dual-listed DRDGold on Wednesday announced that Malaysian exploration company OroTree had elected not to exercise an option to acquire the mining infrastructure assets to access the deep underground ounces of  the East Rand Proprietary Mines (ERPM) gold mine in Boksburg. OroTree, which acquired... 

African nations join majority in opposing US blockage at WTO 

By: Reuters     26th June 2019 African countries have joined the list of nations wanting an end to a US veto on judicial appointments at the World Trade Organization (WTO), a statement showed on Wednesday, meaning a large majority of WTO member States now openly oppose the US position. The US is blocking new appointments... 

‘Platinum Valley’ SEZ in three months – Patel 

By: Martin Creamer     26th June 2019 The legal entity for the Bojanala Platinum Valley Special Economic Zone (SEZ) in North West, which already has an investment pipeline in place, will be set up in the next three months, Trade and Industry Minister Ebrahim Patel promised on Tuesday evening. Fuel cell development is listed as the... 

‘Platinum Valley’ SEZ in three months – Patel
Photo by Creamer Media's Dylan Slater
Trade and Industry Minister Ebrahim Patel

India's gold demand could fall to 3-yr low as prices hit record high

By: Reuters     26th June 2019 India's gold demand could fall 10% in 2019 from a year ago to the lowest level in three years as record high local prices dent retail purchases during a key festive season, the head of an industry body told Reuters. Lower purchases by India, the world's second biggest consumer after China, could... 

Indonesia regulatory changes to bring more uncertainty to coal sector

By: Reuters     26th June 2019 Indonesian coal miners said upcoming regulatory changes are putting added pressure on their businesses amid depressed prices and rising competition from other energy sources. The Indonesian government is in the process of amending coal mining rules to enforce implementation of a 2009 mineral law... 

Northam to restart operations at Eland’s fully funded Kukama shaft  

By: Martin Creamer     26th June 2019 Platinum group metals mining and marketing company Northam Platinum on Wednesday announced the company’s decision to recommence operations in the new 2020 financial year at the Kukama shaft situated at the Eland mine complex in Brits. Total developmental capital expenditure is estimated at... 

Northam to restart operations at Eland’s fully funded Kukama shaft
Photo by Creamer Media
Northam CE Paul Dunne

Omnia to restructure as it seeks to reduce overextended balance sheet 

By: Schalk Burger     25th June 2019 Diversified chemicals group Omnia will, over the next two years, focus on improving the profit margins of its companies’ services and products, ensuring that its assets and investments deliver value, as well as on pursuing international expansion of intellectual property-based businesses that... 

Glencore cuts out agents and dealmakers as scrutiny grows 

By: Bloomberg     25th June 2019 Glencore is cutting out many of its intermediaries – the agents and dealmakers once essential to cracking the toughest markets – amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading... 

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