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Finally dashing BP’s hopes of reviving its deal with Rosneft the new Exxon deal will see the two giants invest $3.2 billion developing the Arctic Kara Sea.

A group of Chinese investor, currently making $642 million bid for South Africa’s Gold One International, say they will be using this deal as a beachhead for further expansion into Africa.

Gold demand in India, the world’s largest user, may jump by 25% during the country’s festival season, as buyers expect gold prices to continue bull-run on “safe haven” demand.

Japan’s Ministry of Finance data shows the country exported net 6.1 tonnes of gold in July, making it more likely that net gold exports will reach a new record this year.

With demand for gold in China expected to increase to over 25% of total global production the world’s biggest producer is also aiming to build up a huge domestic stockpile of the yellow metal.

The world’s largest commodities trader is moving to acquire complete ownership of Australia’s Minara Resources.

The world’s top oil traders and international oil companies are cutting ties with Syria ahead of the EU embargo aimed at depriving Bashar al-Assad’s regime of diesel supplies and oil revenues.

Chinese demand is likely to maintain aluminum prices even in the face of global economic uncertainty.

One of the world’s top oil producers is to import petrol to increase the quality of its petrol.

BHP Billiton Ltd, the world’s largest mining firm says second-half profit rose to a record and beat analysts’ estimates.

The world’s largest oil producer, in July, matched a post Soviet Union record set in October 2010.

In a major change of direction from earlier policy, India has now OK’ed the import of diamonds from Zimbabwe.

Barclays says they do not expect swift resumption of Libyan oil production even if the rebels take over complete control of the country.

Fears of a double-dip U.S. recession together with the euro zone debt crisis have Citigroup raising their gold price outlook.

The ongoing bull run in spot gold prices may mimic the climb to dizzying heights seen in 1980 as bullion prices are increasingly becoming emotion drive.

Exxon Mobil’s huge oil discovery at the Gulf of Mexico’s Julia field remains a topic of hot debate as the U.S. Interior Department insists that the oil giant’s permit in this matter has expired.

Despite higher prices the WGC sees gold demand remaining strong in the second half of 2011 on the back of strong demand from China and India.

After a first half drop off, China’s crude oil imports are expected to recover in the last 2 quarters of this year.

Increased demand from the world’s fastest growing economy is set to drive the copper price up in the coming months.

George Soros has cut his gold position by 13.4% according to an SEC disclosure.

The ongoing strength of the gold price has prompted the Ukraine to start large-scale gold mining.

The recent oil price increases will significantly boost the oil cartels 2011 earnings according to the U.S.’s EIA.

Ongoing global economic pressures unlikely to slow copper demand.

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(Hong Kong, 2 August 2011) BEECRAZY, Hong Kong’s home-grown group buying brand, today announces its expansion into the lucrative Pearl River Delta market, with the addition of Shenzhen, Guangzhou and Macau to its existing Hong Kong offering.

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End of June fuel stocks are almost 1 million tonnes and still at normal levels, while natural gas imports suggest a record for June.

According to the head of India’s atomic energy department, a huge deposit of uranium found in a southern state may be among the biggest reserves of the mineral in the world.

Even with the increased rare earths export quotas, nearing 2010 levels, the European Union says the measures do not go far enough to address concerns of stable supplies.

The second-biggest U.S. bank has announced a net income increase of 13%, beating analysts’ estimates, as investment-banking profit leapt 49% and fewer customers defaulted on credit.

Japan’s PM has said that the recent nuclear crisis has convinced him that the country should wean itself from nuclear power and eventually have no atomic facilities.

Oil companies have drilled almost 50% fewer wells in the first 6 months of this year.

BP promises probe into “serious” incident at offshore oil field.

The world’s biggest gold miner produced 132.02 tons of gold in the first 5 months of this year.

Industry specialist say the world leader in gold bullion investing may slow down this year compared with sharp growth last year as record-high gold prices increase the potential risk of price volatility.

With Vale SA, First Quantum Minerals Ltd and Vedanta Resources Plc about to lead over $6 billion of investments into the country’s mines, Zambia is set to soon enter the world’s top five producers.

Plans for a massive new hydropower development to increase China’s power capacity by almost half by 2015 will not lessen coal demand sufficiently to cut greenhouse gas emissions and may further damage the country’s ailing river system.

The world’s third largest aluminum producer announces second-quarter profits more than doubled after prices for the metal rose.

Forrest said he believes iron ore supply will overtake demand and possibly lowering prices in the short and medium term.

Strong Asian demand and falling reserves will mean copper and tin prices improve significantly in the last six months of 2011.

Independent steel industry analysis firm MEPS (International) Ltd. says world crude steel output will expand by 7.2% year-on-year to 1568 million metric tonnes.

Shares of coal miners, steel firms and airlines were sold on the first day of Australia’s unpopular carbon tax scheme while power suppliers warned that the new tax may risk A$4-6billjion in assets if banks tighten financing.

(Hong Kong) BeeCrazy is teaming up with Sasa.com, the digital arm of cosmetics retailing giant Sasa, to offer a sizzling summer deal on leading group buying website www.BeeCrazy.com.

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