• Philippines - Medusa capital raising funds Co-O expansion program

    Medusa Mining has successfully raised Aus$3.356 million to help fund its major expansion program of the Co-O gold mine on the sourthern Philippines Island of Mindanao.

  • The SAG (said and grab) Mill

    There is never any shortage of great one-liners when you attend a conference. In particular when sharing information on a panel. Maintenance know-how, knowledge and information was at its premium best at the recent Global Executive Mining Maintenance Summit held in Singapore this month. Following are some more one-liners that depict the industry.

  • Company and product news

    Bateman Settler offers enhanced efficiency

    The Bateman Settler ® was initially introduced to the mineral industry in the early 1990s by Bateman which patented the design in the USA, Mexico and Australia.

  • Movers and shakers - Austindo appoints exploration manager

    Austindo Resources has appointed Brad Wake as its Indonesia exploration manager.

  • Coal hedging and managing price risk

    Extract of paper presented at Coaltrans India  By Chandrakant Bhima

    Merrill Lynch Global Markets and Investment Group  Merrill Lynch Global Commodities

  • China - Sparton completes 9 hole drill program at Luxi Bajoawa area

    Sparton Resources recently completed 9 hole program in the Bajoawa area at its Luxi Gold Project in south-west Yunnan Province China.

  • Climax Mining appoints drilling contractor

    Emerging Philippines-focused mining company, Climax Mining has appointed East West Drilling to undertake the company"s expanding exploration programme.

  • The India Story Is For Real

    By Greg Peel of FN Arena

    When everyone talks of China, constantly, India is always mentioned in the next breath. The world"s two most populous nations are vying for world attention. China has the jump on India, but China is also very much in focus as having a huge current account surplus that goes a long way to being the flipside of the US current account deficit. Unlike China, India runs a current account deficit.

  • Japanese equities in between bear and bull scenarios

    By Rudi Filapek-Vandyck of FN Arena

    Stop scratching your head, trying to figure out what exactly caused significant turmoil on global equity markets over the past few weeks. Insiders at some of the world"s largest financial institutions have already done the thinking for you: it all has to do with money flows. Money flew out of the markets from May 10 onwards, asset prices tanked. It"s as simple as ABC.

  • Divergence Between Growth and Earnings Projections In Asia

    By FN Arena

    With Asian markets being among the hardest hit in the current global correction in equity prices, it is fair to ask whether the scale of the falls in the region are justified based on the outlook for economic growth and corporate profits in the region.

  • ANZ Develops Early Warning Indicator For Economic Risk In Asia

    By FN Arena

    One feature of the Asian financial crisis of the late 1990s was its unexpectedness, as financial indicators available at the time failed to identify its emergence.

  • Risk Appetite And The Bull Trend Consensus

    By FN Arena

    Risk measurements are many and varied. Some economists measure "risk appetite", some "risk aversion", some "investor confidence" and others whatever they will. FN Arena has been following the path of risk measures all this year, and suffice to say there is contradiction amongst them.

  • HSBC Suggests Korea Is The Best Value Market In Asia

    By FN Arena

    The shakeout in global equity markets over the past month or so has not spared the South Korean market, where the index has lost about 17% since May 8. In the view of HSBC such a move is an overreaction, as in its view the market is now the best value in the Asian region.

  • The Revenge Of The Chinese Steel Mills - Part II

    By Rudi Filapek-Vandyck

    At least one commentator has dared to ask the question: will the Chinese steel mills still honour their contracts if the iron ore spot price would fall below the contract price?

    It"s a no brainer, really: they won"t.

  • Sandvik adds exploration supply companies to its suite

    Sandvik"s acquisition of Australian SDS Corporation and Swedish-Japanese Hagby-Asahi has elevated the company into offering a fully comprehensive exploration service to add to its already well established, construction, mining and mineral processing business.

     

  • China's impact on Rio Tinto's excellent year

    Buoyant conditions in the mining sector in 2005, together with Rio Tinto"s strategic positioning and strong operating performance, resulted in a second successive year of record profits, the chairman of Rio Tinto Paul Skinner told the annual meeting of shareholders in Melbournelast month.

  • Technical paper in focus

    Prospects for thermal coal imports intoPakistan

    by Pakistan Seatrade Group chief executive Muhammad Najib Balagamwalla

  • The revenge of the Chinese steel mills

    By Rudi Filapek-Vandyck of FN Arena

    It doesn"t take a genius to figure out the Chinese steel mills are not happy with how this year"s annual contract negotiations have developed with the world"s three dominant suppliers of iron ore.

  • The SAG (Said and Grab) Mill

    The SAG (Said and Grab) Mill continues on last week"s GEMMS (Global Executive Mining Maintenance Summit) quoteable quotes by speakers and attendees.

  • China - Drilling extends Sino Gold's White Mountain mineralisation

    Drill intercepts of 10m at 19.1grams per tonne gold and 19.5m at 3.1 grams per tonne gold have extended known mineralisation at Sino Gold"sWhite Mountain project area inChina by approximately 350m to the north-east.

  • Movers & shakers

    Asia Energy has appointed Gerard Holden as the company"s new non-executive chairman.

    Gerard Holden, 42, joins the company following a career with Barclays Capital. He has worked for the Barclays Group for more than 20 years with his most recent role being managing director and global head of mining and metals.

  • Resources boom over? Quite the contrary!

    By Rudi Filapek-Vandyck of FN Arena

    Don"t get confused by commentators calling for the end of the resources boom era, if anything the underlying trend for metals and other commodities is only getting stronger and stronger, commodity specialists at Barclays Capital state in their latest update on matters.

  • It's the end of the world as we know it, if the yen carry trade is unwound

    By FN Arena

    "The entire global financial system is on the verge of disintegration, as the result of the imminent collapse of the yen carry trade." Daily Telegraph (UK), 24th February.

  • Malaysia - Mission Biotechnologies invests RM100m in Malaysian biodiesel industry

    Malaysian deputy prime minister Sri Najib Tun Abdul Razak officiated at the ground-breaking ceremony of Mission Biotechnologies Sdn Bhd"s ( MissionBiotechnologies)

  • Asian markets: Sell into the bounce, ABN advises

    By FN Arena

    The correction is unlikely to be over yet, ABN Amro analysts say, advising Asian investors to sell into the expected upcoming bounce.

  • Vietnam - Phuoc Son resource increases, deposit extended

    Olympus Pacific Minerals has increased its measured and indicatedresource at the North Deposit on the 85% owned Phuoc Son Gold property located inCentral Vietnam by 80%.

  • Australia - Cyclones affect Australian gold production

    Australian gold production declined sharply in the March 2006 quarter following heavy rain from six tropical cyclones and a tropical low in Western Australia, the Northern Territoryand northern Queenslandaccording to Melbourne-based mining consultants, Surbiton Associates Pty Ltd.

  • Gold carnage - time to buy?

    By FN Arena

    "The current correction is going to end up [as] the last great buying opportunity in what…remains the greatest secular bull market in gold"s history." Peter Grandich, Grandich Letter (as reported by TheStreet.com)

     

  • The world will slow in the third quarter

    By FN Arena

    Unlike other periods of extreme financial market volatility, this one was not triggered by some 9/11-esque shock. Energy prices, leading to inflation fears, are seen as the culprit, but then energy prices were equally as threatening post-Katrina with little of a similar response. The only difference this time was the hysterical run-up in early 2006 and the fact that many observers were calling for a necessary correction.

  • China to continue to lift nickel market

    By FN Arena

    Despite all time high nickel prices Chinais set to continue to expand its stainless steel production capacity at a rate of 25% per year up to 2009, analysts at Citigroup say.

  • The outlook is for higher interest rates and a stronger yuan

    By Rudi Filapek-Vandyck of FN Arena

    The US Federal Reserve may find itself behind the cyclical curve in the coming months, as suggested by several commentators who believe the combination of slowing economic growth and rising inflation is about to put Fed chair Bernanke and Co in serious limbo.

  • Stainless steel production expected to rise 7.5%

    By FN Arena

    With exceptionally strong stainless steel demand from the EU and a pick-up in activity from China, steel industry consultants MEPS expect production to rise by 7.4% in 2006 to 26.25 million tonnes.

  • Deutsche Bank firmly in the gold bull camp

    By Rudi Filapek-Vandyck of FN Arena

    The latest update on market statistics and forecasts by Deutsche Bank reaffirms the bank"s bullish outlook for gold. Deutsche Bank is forecasting an average spot gold price of US$582/oz for the current calendar year.

  • Global oil demand predicted to slow dramatically

    By Rudi Filapek-Vandyck of FN Arena

    Wells Fargo economist Michael Swanson believes the oil market is in for a "shocker". Too bullish for too long would be his summary of current market opinion.

  • This is not the time to lose your nerve

    By Rudi Filapek-Vandyck of FN Arena

    Yes, they saw this one coming over at USinvestment bank Julius Baer. In its June strategy update, the bank"s equity strategists report Julius Baer had taken the strategic decision to pull back some of its equity exposure in early May. Immediately after that the world experienced possibly the most severe global correction in equities and commodities over the past half decade.

  • Copper miners take on the smelters

    By FN Arena

    SB Citigroup suggests the big copper miners are currently in a strong bargaining position with respect to the next round of 6-monthly contract treatment and refining charges (TC/RC) negotiation with the smelters. Smelter concentrate stocks have declined and supply has been disrupted by operational difficulties and strike action.

  • This week's technical paper in focus

    THE USE OF COAL WASHERY REJECTS.

    By C.G. Mrig Managing Director Aryan Coal Benefications Pvt. Ltd.

  • Canatuan Sulphide Project feasibility study completed

    TVI Pacific Inc has completed its Canatuan Sulphide Project feasibility study.

    The study prepared by Norwest Corporation details the project mine life to be 6 ½ years at a 1300 tonne per day production rate producing a total of 51,600 ounces of gold, 84.4 million pounds of copper, 3 million ounces of silver and 21,400 tonnes of zinc.

  • Mission Biofuels to expand Malaysian plant

    The Malaysian Government has approved Mission Biofuels licence application to establish an additional 200,000 tonnes per annum biodiesel facility adjacent to its current site at Kuantan Port in Malaysia.

  • Company and product news

    Downhole survey tools take a new direction with GyroSmart

    FlexIT has introduced GyroSmart® which will take downhole survey tools into a new direction.

  • Correction in commodities isn't over yet

    By Rudi Filapek-Vandyck of FN Arena
    To market strategists at BCA Research the conclusion to draw from the renewed turbulence on commodity markets is that investors had simply taken too bullish a view, ignoring warning signals on the way up.
  • China to push up global inflation soon

    By Rudi Filapek-Vandyck of FN Arena
    It is not exactly news the global investment community is craving for at the moment, but new economic data as amalgamated by CLSA (a leading provider of brokerage and investment banking services in the Asia-Pacific Market) will boost current fears that global inflation will inch up further, soon.
  • Aluminium will bring down the metals markets

    By FN Arena
    Recent data from China Customs show that at 752kt, April imports of bauxite were up a staggering 501% compared to April last year. On a year-to-date basis, bauxite imports are up 279% from the corresponding ytd last year at 1.9Mt.
  • Some policy challenges ahead, but Japanese economic outlook favourable

    By FN Arena
    Following a March quarter GDP growth figure that showed a slowing in its economy, the World Bank and others have revised down their forecasts for growth in Japan while retaining a positive overall outlook.
  • NAB sees iron ore prices remaining firm next year

    By FN Arena

    China withstood the demands of producers for as long as possible, but its need for iron ore has seen it (soon) agree on 19% price increases, an outcome in line with the settlements reached with Japanese, South Korean and European steel producers.

  • China - Huidong gold project on same trend as world class discovery

    Magnus International Resources is currently undertaking a detailed ground geophysics survey on the Huidong gold exploration project to follow up on highly anomalous gold-in-soil areas.
  • Central Asia - Kentor Gold hopeful of Kumtor-style find

    Recent drill-testing and analysis at Kentor Gold"s Kyrgyz Republic tenements are indicating that the tenements are on the trend hosting the multi-million dollar ounce deposits of the neighbouring Kumtor gold mine.
  • PNG and Fiji Emperor raises $40m for exploration and mine redevelopment

    Emperor Mines Limited has raised Aus $40 million with the placement of 100 million shares at 40 cents per share.
  • Correction may not be over in Asia

    By F NArena
    With markets globally now showing high levels of volatility, ABN Amro notes even the professional investors have had their confidence shaken and are now less certain about the outlook for investment markets. Evidence of this is seen in the fact recent fund inflows have yet to be fully invested and money is now moving into asset and reflation plays in preference to momentum plays.

  • Indonesia and China to determine coal supply and demand

    Indonesia and China will determine the supply and demand balance for thermal coal in the Pacific region.
  • More bull market affirmation

    By FN Arena
    Merrill Lynch Investment Managers in theUS are not convinced inflation pressures are the reason theUS market is correcting. Chief Investment Officer Bob Doll suggests that if inflation were truly the culprit, the energy, industrials and materials sectors should have outperformed during the correction, as these sectors benefit from higher inflation.

  • Company news of the week

    Boart Longyear has sold its hard materials and soft rock tools division ("HMSR") to Equita Management GmbH ("Equita"), a private equity situated in Bad Homburg , Germany .
  • Indonesia - Rainfall slows diamond production

    Despite heavy rainfall in Indonesia during the country"s wet season from November to March, BDI Mining has successfully managed to maintain full operational status at its Cempaka alluvial gem diamond operation.
  • INDONESIA - Diamond drilling to begin at Austindo's Trenggalek Gold Project

    Australia "s Austindo Resources plans to begin diamond drilling at the Trenggalek Gold Project in East Java mid this year. The company has been undertaking detailed field mapping of three prospects in preparation of its diamond drilling program.

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