Mining.com has reported that Hong Kong listed Chalco (02600) is to transfer its $1.8 billion investment in its Guinea iron ore project to its state-owned parent company. The possible transfer has been interpreted as a sign that China may be considering increasing its investment in the ambitious $20 billion project. The project is 51% owned by Rio Tinto, with Chalco having a 45% share. The remainder is owned by of the World Bank. The project located in Simandou in the Nzérékoré Region of south-eastern Guinea, aims to produce 95 million tonnes per year and has the potential to shift the balance in the global iron ore trade.

The Dalian Commodity Exchange (DCE) has received regulatory approval from the China Securities Regulatory Commission (CSRC) to launch trading of China’s first iron ore futures, according to an article in the South China Morning Post. The DCE’s iron ore futures will be the world’s first physically backed derivatives contract, and will compete against cash-settled iron ore swaps contracts cleared by the Singapore Exchange (SGX) and CME Group.

China will lend South Sudan up to US$2 billion to fund infrastructure, power and agricultural projects, according to a report from Reuters. The announcement was made by the South Sudanese petroleum and minister Stephen Dhieu Dau, speaking at a joint news conference with the Chinese ambassador Ma Qiang. The two countries will also conduct South Sudan’s first geological survey, funded by a $43 million loan from China.

A report prepared by Advanced Resources International (ARI), has been released as part of a U.S. Energy Information Administration (EIA) report titled “World Shale Gas Resources: An Initial Assessment of 14 Regions Outside the United States”.

The Letpadaung Taung Investigation Commission (“Commission”) has issued its complete and final report (“Report”) into the Letpadaung Taung copper mining project (“Project”). The Letpadaung deposit is one of four significant mineralized deposits located in west central Myanmar; approximately 5 kilometres west of the town of Monywa situated 110 kilometres west of Mandalay and 832 kilometres north of Yangon.

On 11 April the Ministry of Energy (“MOE”) of the Government of the Republic of the Union of Myanmar (“Government”) issued an Invitation for bids to conduct petroleum operations in the Myanmar offshore areas (2013) (“Offshore Bidding Invitation”) in relation to both shallow and deep water blocks. The issuance of the Offshore Bidding Invitation follows on from the recently closed onshore bidding process (“Onshore Bidding Invitation”) following which 59 companies were shortlisted for a second round evaluation and data disclosure. The closing date for submissions is 14 June 2013. Of the 11 shallow water blocks, 3 are located in the Rakhine offshore area, 2 in the Moattama offshore area and 5 in the Tanintharyi offshore area. Of the 19 shallow water blocks, 12 are located in the Rakhine offshore area, 3 in the Moattama offshore area and 4 in the Tanintharyi offshore area.