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Mongolian Mining Chapter 15 Bankruptcy Restructuring
Ulaanbaatar, Mongolia-based Mongolian Mining filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 17-10695. The Company, which engages in mining, processing, transportation and sale of coal products in Mongolia, is represented by Timothy E. Graulich of Davis Polk & Wardwell.
Copper price falls on Grasberg production resumption
In New York on Tuesday copper for delivery in May suffered a second day of markdowns trading at $2.6075 per pound or $5,750 a tonne as output disruptions at the world’s biggest mines appear to be closer to being resolved. Copper is down more than 3% this week.
Chinese data, strikes bring copper price back to boil
In New York on Tuesday copper for delivery in May enjoyed a third day of gains adding 1% to $2.6505 per pound or $5,843 a tonne on the back of upbeat economic data from China and continued labour disruptions at the world’s biggest mines.
Copper supply disruptions push prices up
Copper prices climbed Monday, helped mainly by ongoing supply disruptions at two massive mines in Chile and Indonesia, intensified by an indefinite strike that broke Friday at Freeport-McMoRan’s (NYSE:FCX) Cerro Verde mine in Peru the country’s largest.
Mongolia sees no change in Oyu Tolgoi copper stake
Mongolia said it has no plans to change the size of its stake in the massive Oyu Tolgoi copper mine, although it is seeking to boost exploration as it works to bolster its finances following an IMF-led loan deal.
Copper price falls to 8-week low
In New York on Tuesday copper for delivery in May fell as much as 1.7% to $2.6080 per pound or $5,750 a tonne after a surge in warehouse stocks in Asia limiting the impact of supply disruptions at the world’s biggest mines.
Mongolian mining company set to benefit from Parker Ash Probe with latest software
Parker Bretby Gammatech, part of Parker Hannifin, the global leader in motion and control technologies, has secured a major new contract with Mongolyn Alt Corp. (MAK) to supply and commission an Ash Probe – Portable Ash Instrument Analyser, which includes innovative AshGraffix software.
Gobi Coal & Energy acquires advanced uranium project
Gobi Coal & Energy has announced its 100% stock acquisition of Zaraiya Holdings Ltd, which wholly owns an advanced in-situ leach uranium project in Mongolia, adjacent to AREVA. The acquisition is expected to complete in March and demonstrates Gobi Coal’s progress towards becoming a diversified multi-national energy resources company focused on high value projects. As [...]
Copper price jumps on Grasberg grind, Escondida escalation
In New York on Wednesday copper for delivery in May gained for the fourth day in a row, jumping 2% to hit a day high of $2.7685 per pound or $6,103 a tonne as a return to production at two top mines – combined responsible for some 8% of global output – looks increasingly doubtful [...]
China’s coal consumption keeps plummeting, down for 3rd year in a row
China’s coal consumption dropped in 2016 for a third year in a row, official data showed Tuesday, as the world’s top consumer and producer of the fossil fuel continued tightening environmental rules aimed at dealing with pollution.
Copper price: Escondida deal beginning to look distant
In New York on Monday copper for delivery in May was trading slightly for the better at $2.6980 per pound or $5,940 a tonne after conflicting reports about talks between BHP Billiton and workers at its Escondida mine in Chile.
China’s coal imports from North Korea ease after sanctions
China’s coal imports from North Korea eased last month after new U.N. Security Council sanctions curbing the isolated country’s sales abroad came into effect, while Russia, Mongolia, Australia and Indonesia raised shipments, data showed on Friday.
Aspire Mining signs agreement for the advancement of Ovoot railway
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited, has, through its rail subsidiary, Northern Railways LLC (Northern Railways), signed a Memorandum of Understanding (MOU) with Ulaanbaatar Railways JSC (UBTZ) to cooperate on a number of matters to progress the commercialisation of the Erdenet to Ovoot Railway.
Copper price turns higher again – Grasberg gashed
In New York on Monday copper for delivery in March jumped 1.6% to $2.7515 per pound or $6,066 a tonne after listed copper miner Freeport McMoRan said negotiations with the Indonesian government to restart exports from its Grasberg mine in Papua province has stalled. Copper is trading at levels last seen late May 2015 with [...]
China may tighten up coal output curbs again as prices collapse
China may soon reinstate coal production curbs in an effort to avoid the return of an oversupply and improve the profitability of its heavily indebted coal industry.
Mongolia nationalizes mine, prompts warning on investors
Mongolian lawmakers have told the government to revoke a private company’s purchase of a stake in a major copper mine, prompting the president to warn they might scare away investors as the country tries to reverse an economic slump.
Coking coal resumes sharp decline
After a pause last week (and even a small move higher) following 12 weeks of non-stop selling, the rout on coking coal markets resumed on Tuesday. The steelmaking raw material fell 4.7% to $154.80 on the day, the lowest since early September.
Mongolia Parliament Votes to Nationalize Erdenet Copper Mine
Mongolia’s parliament approved a resolution to nationalize copper, gold and iron-ore assets in the country following a probe that found a $400 million transaction with a closely held company was illegal.
Hedge funds have never been this bullish about copper price
On Monday copper for delivery in March declined more than 1% in New York at $2.6545 per pound or $5,855 a tonne amid a general weakness on commodity and financial markets gripped by uncertainty surrounding the Trump administration’s impact on the global economy and geopolitical stability. Last week copper touched its highest level since June [...]
Ingenious clean coal plant could give new life to coal
NRG Energy and JX Nippon Oil & Gas Exploration Corp. have successfully developed a power plant that runs entirely on clean coal. The Petra Nova power plant located in Texas was activated on January 10th and is the first of its kind in the United States to be used to power the grid. The facility [...]
Coking coal’s bubble deflates, China’s imports from North Korea remain key: Russell
If you wanted to see what a speculative commodity bubble looks like, then coking coal’s huge rally in the second half of last year and subsequent retreat provides a good example.
US demand growth to push copper market into deficit
The surge in the copper price to near 18-month highs following Donald Trump’s win in the US presidential election came as a surprise to an industry under pressure since 2011 over growing supply.
Turquoise Hill Resources Ltd. Insider Ownership stands at 49.5
Turquoise Hill Resources Ltd. (NYSE:TRQ) reported its last quarter results on 11/03/2016. This Company belongs to Basic Materials sector.
Petro Matad shares rise as Shell exit payment is now expected in matter of days
Petro Matad Limited (LON:MATD) shares rose in Wednesday’s early deals as it revealed that an awaited payment from Royal Dutch Shell is now expected in a matter of days.
In latest move, China halts over 100 coal power projects
China’s energy regulator has ordered 11 provinces to stop more than 100 coal-fired power projects, with a combined installed capacity of more than 100 gigawatts, its latest dramatic step to curb the use of fossil fuels in the world’s top energy market.
RSI Review on Shares of Mongolian Mining Cor
Investors are tracking indicators on shares of Mongolian Mining Cor (MOGLF). The current 14-day RSI is 50, the 7-day is at 43.77, and the 3-day is resting at 31.3. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. The RSI was developed by J. Welles [...]