Canada's Eldorado Gold to acquire rest of Sino Gold Mining for $1.8B in stockAugust 26th, 2009 Eldorado to acquire rest of Sino GoldVANCOUVER, British Columbia — Canada's Eldorado Gold Corp. says it has agreed to buy all remaining shares of Australia's Sino Gold Mining Ltd.
Australia signs multibillion-dollar LNG deal with ChinaAugust 18th, 2009 SYDNEY - Australia will supply China with liquefied natural gas (LNG) worth 50 billion Australian dollars (US $41 billion), officials said Tuesday. It's Australia's largest resources deal ever, double the size of the LNG supply deal sealed last week with India.
Mining giant Rio Tinto guilty of commercial espionage worth 100 B dollars: ChinaAugust 10th, 2009 SHANGHAI - Relations between China and Australia are likely to take a turn for the worse with authorities in Beijing accusing the British-Australian mining giant Rio Tinto of engaging in commercial espionage that cost China about 100 billion dollars. The sensational allegation was published on Sunday on a website affiliated with China's State Secrets Bureau, which has detained four Rio Tinto employees - three Chinese citizens and one Australian - in Shanghai last month on suspicions of stealing confidential documents from the country's huge, government-controlled steel industry.
Orissa's anti-mining protests reach DelhiJuly 27th, 2009 NEW DELHI - Members of Orissa's Kondh tribe Monday gathered for a candle light vigil in the capital, urging Prime Minister Manmohan Singh to stop mining of the bauxite-rich Nyamgiri hills in their state. According to the tribesmen and others supporting them, the mining of the Niyamgiri hills will lead to massive deforestation, affect water resources, destroy the local ecosystem and endanger wild animals commonly found in the area like tigers, leopards and elephants.
Mongolian parliament sidesteps mining pact with foreigners, asking the government to handleJuly 17th, 2009 Mongolian lawmakers sidestep foreign mining pactULAN BATOR, Mongolia — Mongolia's parliament, unable to agree on a mining deal, has given the government a freehand to renegotiate terms with Ivanhoe Mines Ltd. and Rio Tinto Ltd.
Six-fold increase in Myanmar's foreign investment reported, driven by ChinaJuly 16th, 2009 Foreign investment in Myanmar soarsYANGON, Myanmar — Foreign investment in Myanmar swelled sixfold to almost $1 billion in the last fiscal year, most of it coming from China, according to government statistics seen Thursday. A Ministry of National Planning and Development statistical survey showed that foreign investment jumped to $984.9 million in the fiscal year that ended in March 2009 from $172.7 million the previous year.
Chinalco maintains 9.3 percent stake in Rio Tinto through $15.2 billion rights issueJuly 2nd, 2009 Chinalco maintains 9.3 percent stake in Rio TintoMELBOURNE, Australia — State-controlled Aluminum Corp. of China said Thursday it took up its full entitlement in Rio Tinto's $15.2 billion share issue to maintain a 9.3 percent stake in the Anglo-Australian miner.
Swiss mining giant Xstrata seeks 'merger of equals' with rival Anglo-AmericanJune 21st, 2009 Miner Xstrata seeks merger with Anglo AmericanZUG, Switzerland — Swiss mining giant Xstrata PLC said Sunday it is seeking a merger with rival Anglo American PLC. Xstrata said it "recently sent a written proposal to the board of Anglo American seeking their consideration of a merger of equals of the two companies."
"A merger of these two world-class companies with complementary assets is highly compelling," the company said in a statement posted on its Web site, adding that substantial cost savings could result if the deal proceeds.
Vedanta group acquires Goa mining company in Rs.17.50 bn dealJune 11th, 2009 PANAJI - Goa's biggest family-owned mining company, the Dempo group, has sold all its mining assets to Sesa Goa Limited, a majority-owned subsidy of the London-listed Vedanta Resources, for Rs.1,750 crore (Rs.17.50 billion/$368 million) in an all-cash deal. Addressing the media in Panaji late Thursday evening, chairman and managing director of the Dempo group, Srinivas Dempo, said that the 19 iron ore mines in Goa controlled by the V.S.
78 people missing after landslide buries mining town in southwestern ChinaJune 6th, 2009 Landslide in Chinese mining region buries 78BEIJING — Rescuers searched for 78 missing people Saturday after a landslide buried an iron ore plant and several homes in a valley in southwestern China. Seven people were rescued, three of which were seriously injured, said an official with the propaganda office in the city of Chongqing, who would only give her surname, Zhu.
Report: 59 people buried in landslide in mining region in southwestern ChinaJune 5th, 2009 Landslide in Chinese mining region buries 59BEIJING — At least 59 people were buried by a landslide Friday in the southwestern Chinese iron mining region of Chongqing, safety officials said. Those buried included 50 miners and nine residents of remote Tiekuang, or "iron mine," township, said an official with the Chongqing work safety supervision bureau, who would give only his surname, Dong, because he was not authorized to speak to media.
Bank of America sells $7.3 billion stake in China Construction BankMay 14th, 2009 BofA sells $7.3B stake in China Construction BankCHARLOTTE, N.C. — Bank of America Corp.
Canadian markets touch 10,000 points in record gainsMay 5th, 2009 TORONTO - Canadian markets made the biggest one-day gain of the year Monday, with the Toronto Stock Exchange (TSX) composite index jumping 373.41 points to almost touch the 10,000-mark. The energy and mineral-rich market jumped up after a string of positive indicators from the US and China - Canada's two biggest trading partners.
Third Front will nationalise Goa's mining industry: BardhanApril 21st, 2009 PANAJI - If the Third Front comes to power at the centre after the Lok Sabha polls, it will nationalise the Rs.6,000-crore mining industry of Goa, which is largely at the hands of private players, a senior leader of the Communist Party of India (CPI) said Tuesday. Addressing a press conference at the party's headquarters here, CPI general secretary A.B.
Rio Tinto to mine diamonds in Madhya PradeshDecember 30th, 2008 BHOPAL - Rio Tinto India will soon set up a project for production of diamonds in Madhya Pradesh, the state government has said. 'The company has detected a diamond deposit in Chhatarpur district and will soon set up a diamond project for commercial production of diamonds,' Minister of State for Mineral Resources Rajendra Shukla told IANS.
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