Erdene soars as Mongolia project larger than predicted

Having trouble viewing this email?  View online Asia News Digest Friday 11 May 2018 Home     Gold     Silver     Africa     Asia     Australia     China     Europe     Latin America Erdene soars as Altan Nar project in Mongolia proves larger than predicted Indicated and inferred gold equivalent resources increased by whooping 208% and 172% respectively, when compared to the project's maiden mineral resource estimate of 2015. read » Coal mine deaths climb to 23 in southwest Pakistan – officials At least 16 miners died on Saturday and more than a dozen were trapped after an explosion in a mine in the Marwar coalfields. read » WGC latest report shows how weak gold demand has been this year Global demand dropped so much between January and March that the period became the weakest first quarter since the 2008 financial crisis. read » Chaarat Gold offer to Centerra values Kumtor mine at $800 million The proposed acquisition would be funded by $400 million in cash from Chaarat, while the $400 million of Centerra shares currently held by Kyrgyzaltyn would be transferred to the Canadian miner and cancelled, in exchange for a 50% direct preferred economic interest in the Kumtor mine. read » Battery metals supply crunch to slow near-term EVs growth — Moody's Lack of new projects, investment deficit and increasing political risk will hit supply of cobalt, lithium, copper and nickel, key metals for making the batteries that power electric cars. read » World's top uranium miner Cameco back in the black But the Canadian company said the uranium market remained "quiet." read » Fate of Centerra mine not sealed as Kyrgyz-owned company yet to see takeover bid Kyrgyzaltyn has yet to see an offer by Chaarat Gold Holdings to acquire Kumtor mine, which is the Central Asian nation's largest gold operation. read » Caterpillar results prove global economy in good shape The machinery manufacturer logged earnings of $2.82 per share on revenue of $12.9 billion, surpassing expectations. read » Centerra rejects unsolicited offer for its Kumtor gold mine in Kyrgyzstan Centerra and Kyrgyzstan have had a series of disputes over sharing profits from Kumtor, and London-listed Chaarat was offering the nation to increase its stake in the project's cash flow in the three-way deal. read » DRC miners hopeful new code issues can be resolved They said they expected authorities to realize the sliding scale they propose would be a more effective mechanism for the government to share in higher commodity prices than the windfall tax and strategic minerals scheme included in the new code. read » Global bauxite production to grow: BMI A new report issued by BMI research states that global bauxite production growth will accelerate over the coming years. read » U.S. producers hurt by Chinese steel wheel imports – trade panel The alleged dumping margins ranged from 12.1 percent to 231.7 percent, and U.S. imports of the products from China in 2017 were estimated to total $388 million. read » Asia coal industry sees blue skies, ignores storm clouds: Russell While there may be scope to be bullish on the short- to medium-term outlook for coal, the risk factors for the industry appear to be mounting. read » N. American gold ETF inflows at highest since September 2017 -WGC North American gold-backed ETFs rose 43.7 tonnes worth $1.9 billion in April. read » Gold to remain influenced by political uncertainties and geopolitical risk around the world Political uncertainty, including Brexit negotiations, along with ongoing tensions in the Middle East will remain gold's key drivers. read » Indonesia grants tin export permits to 12 companies including PT Timah The country's biggest tin miner PT Timah Tbk received a permit to ship 32,305 tonnes. read » Gold imports by India are said to have plunged for fourth month Imports in the first four months totaled 211.7 tons, a drop of 43 percent from a year ago, data collated by Bloomberg show. read » Biggest miner says China's shift to quality iron-ore will hold BHP forecasts reforms in China's steel sector will continue to hand an advantage to suppliers of higher-quality iron ore and coking coal as consumption of the alloy keeps growing well into the next decade. read » Indonesia sees coal output flat in 2019 amid equipment shortage Amid concerns Indonesia could exhaust existing minable coal reserves of 13 billion tonnes 25 years, the government is considering measures to push miners to carry out exploration work before they can obtain permits to increase output. read » China's iron ore rises on renewed steel output; 2nd day of foreign trade Utilisation rate at mills climb back to November level. read » Qatar steps in to buy Rosneft stake after China deal collapses Qatar Investment Authority stepped in after the sellers — a consortium of QIA itself and mining giant Glencore Plc — told CEFC it wouldn't proceed with the original deal announced in October. read » China opens iron ore market to the world in pricing, image push China to allow foreign investors in iron ore futures from Friday. read » The DJIA, gold industry, & gold equities Gold orientated discovery company, Westhaven Ventures, is currently drilling a potentially high grade epithermal gold target in an underexplored gold belt. read » Mongolian Copper Corp considers international fight for Erdenet mine State seeks enforced acquisition of MCC's Erdenet stake. read » Vedanta considers building zinc smelter in South Africa Company is accelerating expansion of its African zinc operations to take advantage of a surge in zinc prices. read » Mint American Eagle gold coin sales at weakest April since 2007 Meanwhile, silver coin purchases for the month rose 10 per cent higher than last year. read » Indonesia's Timah Q1 refined tin output down 23 pct Refined tin output fell to 5,361 tonnes in the quarter from 6,963 tonnes in the same period last year, the company said in a statement. read » China's metals trade is facing a year of upheaval: Andy Home China's trade in industrial metals looks set for significant upheaval this year as the country adapts to fast-evolving supply chains. read » Read more Asia news on MINING.com » Home     Gold     Silver     Africa     Asia     Australia     China     Europe     Latin America About Us   |  Privacy Policy  |  Unsubscribe   |  Contact Us   |  Advertise This email was sent to you by InfoMine Inc. 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