Wellex Mining Corp. of plastics king William Gatchalian is investing P473 million for an ore project in Dinagat Province.
The project involves the production of beneficiated nickel ore for exports to Macau, Japan, China, Taiwan and India.
The mining facility will have a capacity of 1.2 million wet metric tons of beneficiated nickel ore per year.
It will [...]

Sterlite Industries (India) Limited (“Sterlite”), a subsidiary of Vedanta Resources plc, the London-based FTSE 100 metal and mining group, and ASARCO LLC (“Asarco”), a Tucson based mining, smelting and refining company, announced today that they have signed a definitive agreement for the sale to Sterlite of substantially all the operating assets of Asarco for $2.6 [...]

Indonesian state coal miner PT Bukit Asam Tbk expects its coal export prices to rise by at least 45 percent this year, in line with rising global prices and strong demand, a company official said on Thursday.
Bukit Asam — the smallest of Indonesia’s three listed coal miners — sold coal in the overseas market at [...]

The first consignment of uranium fuel from Russia for unit-1 of 1000 MW Kudankulam Nuclear power project-KKNPP in the southern Indian state of Tamil Nadu has reached here on Monday.
Nuclear Power Corporation of India limited-NPCIL spokesperson A I Siddiqui said KKNPP, comprising of two units of 1000 MW (e) each, are at an advanced stage [...]

India believes it will only be a matter of time before the Australian government supplies it with uranium.
The Labour Party government in Australia has decided against selling yellowcake to India.
Even though the previous Australian administration was in favour of supplying uranium to India, the new government has banned sales because New Delhi is not a [...]

Steel Authority of India (Sail) has agreed to pay the revised coal price of $150 per tonne, to Bharat Coking Coal, in 2008-09, as compared to the previous fiscal, when it paid $105 per tonne. “The price issue is settled. We will sell coking coal from BCCL at $150 per tonne, 40% lower than the [...]

The International Energy Agency says it is worried whether world oil supplies can meet growing demand.
The IEA’s chief economist says the organization is studying depletion rates at about 400 fields in its first study of world oil supply, and is preparing a revision of its forecasts.
Fatih Birol says the study was prompted by soaring oil [...]

World Gold Council (WGC), the organisation formed and funded by the world’s leading gold producers, has today announced that it has partnered with a leading Russian jewellery manufacturer, Choron, to bring the Gold Expressions jewellery collection to Russia for the very first time. Choron will present Gold Expressions at the New Russian Style Fair 2008 [...]

State-owned rail coaches and mining equipment maker, Bharat Earth Movers Ltd. (BEML) said it signed a 12-year agreement with Coal India Ltd. (CIL) for joint production of off-road tyres.
In a statement, BEML said the tyres will be produced by Apollo Tyres and JK Tyres at a facility funded by itself and CIL.
CIL will invest 2 [...]

Shares of gold-mining companies gained Tuesday after an analyst said the precious metal appeared set for benefit from tight supply and growing demand.
Goldman Sachs analyst Oscar Cabrera said in a client note that “policy-driven investment constraints and geopolitical concerns impeding the free flow of capital across the commodity complex together with strong demand from (Brazil, [...]