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Xstrata Copper and Gold Mining Project in the Philippines US$2bn
Global mining group Xstrata, which has coal and alloys operations in South Africa, on Wednesday confirmed that its US$2bn Tampakan copper and gold mining project in the Philippines had been raided and two buildings had been torched.
Communist rebels representing the New People’s Army claimed responsibility for the raid, saying its singular objective was “punishing [...]
Mining giants drag Aust market down
The Australian share market has closed down 1 per cent on big losses by the mining heavyweights.
The All Ordinaries Index lost 67 points to 6,148.
The ASX 200 tumbled 72 points to 6,165.
Sliding commodity prices have shaved more than 2.5 per cent off BHP Billiton and Rio Tinto.
BHP is down 78 cents to $29.62, while Rio [...]
Japan Recovery Not Helping Rural Areas
When the last coal mine in Yubari closed down in 1990, city elders thought pumping tax money into an amusement park, hall of fossils, ski resort and robot museum would keep this remote snowbound town of 13,000 people afloat and on the map.
More than a decade and a half later, Yubari is still in the [...]
Under bank sanctions, North Korea looks to gold exports
More than a century after American mining engineers first opened up North Korea’s gold mines, a fortune in gold and other metals and minerals offers the prospect for North Korea to ease the pressures of financial sanctions.
The question, however, is whether North Korea can navigate around a US Treasury order that forbids institutions doing business [...]
Indonesia’s Riches Draw China, India
When it comes to energy and industrial commodities, China and India are Asia’s fiercest competitors. For the last couple of years, both Chinese and Indian companies have done deals across the globe — from Latin America to Africa — to win oil exploration rights or secure long-term raw material contracts.
Now they have set their sights [...]
Hard road to extract Pike River coal
THE FLOAT OF New Zealand Oil & Gas’ subsidiary Pike River Coal Ltd next month is set to create the country’s second largest coal exporter and inject up to $30 million a year into the jaded Greymouth economy.
Details of the float, the share allocation and amount sought, can not be revealed because of stock exchange [...]
ata wants to mine South Africa’s chrome, manganese, coal and iron-ore
A new Indian force is about to enter the South African mining industry.
Indian diversified industrial giant Tata has announced that its sub-sidiary, Tata Steel, is investigatingopportunities to mine chrome, manganese, coal and iron-ore in South Africa.
The announcement was made at the official inauguration of theconstruction of Tata Steel’s R670-million high-carbon ferrochrome plant in the port [...]
