Ангилал: Уул уурхай
Rio and Mongolia close the gap in copper dispute
The Rio Tinto-controlled company behind the Oyu Tolgoi copper project on Monday concluded a feasibility study for a $5bn expansion and welcomed a tax cut offered by local authorities, in signs of a possible end to a long dispute between Mongolia and the miner.
Russian sanctions “Putin” pressure on uranium supply
Summary: Spot uranium price rebounding strong over the past few weeks, rallying more than $3 per lb or more than 10% in a short timespan. End users such as the nuclear utilities with deep pockets need safe and secure long term supplies from stabile jurisdictions. Recent sanctions with Russia could already be putting pressure on [...]
Prophecy Coal Announces Approval for the General Development of the Mongolian-Russian Zeltura Border Port
Prophecy Coal Corp. (“Prophecy” or the “Company”) (PCY) (otcqx:PRPCF) (frankfurt:1P2) is pleased to announce the approval of the Company’s General Development Plan (the “GDP”) for the Zeltura border port in Selenge province, Mongolia.
Resolution Of Tax Dispute In Mongolia Boosts Rio Tinto’s Plans For Expansion Of Copper Mine
A tax dispute that could potentially have delayed the development of Rio Tinto‘s Oyu Tolgoi copper mine in Mongolia, has been resolved. This is good news for the company as the project is an integral part of its plans to ramp up its copper production.
Macmahon Units in Standstill Pact With Erdenes to Negotiate Dues
Macmahon Holdings Ltd. (MAH) and two of its subsidiaries in Mongolia called a three-week truce with coal miner Erdenes Tavan Tolgoi JSC as the two sides negotiate over unpaid claims.
U.S. Company Evacuates Staff From Mongolia Before Being Kapla-sized
Fluor, a company based in Irving, Texas USA, has reportedly removed all foreign personnel from Mongolia rapidly at the first hint that the government of Mongolia may have a tax inquiry for the company.
Genie’s Unit Signs Agreement for More Oil Shale Exploration in Mongolia
Genie Energy Ltd. announced Tuesday that its subsidiary, Genie Oil Shale Mongolia, LLC (GOSM), has signed a prospecting agreement with the Petroleum Authority of Mongolia (PAM). The new exploration block covers 9,652 square miles (25,000 square kilometers) in Central Mongolia southeast of the Mongolian capital, Ulaanbaatar.
Rio Tinto Settles Tax Dispute with Mongolia; Oyu Tolgoi Mine Back On Track
UK mining giant Rio Tinto (LON:RIO) is on the verge of getting its $6.5 billion Oyu Tolgoi project back on track after resolving a lingering tax dispute with the Mongolian government.
Why China’s insatiable appetite for coal has likely peaked
A recent report from Greenpeace found that China’s coal consumption declined in the first half of this year and new Chinese government data suggests that the country’s coal imports have dropped. Estimates indicate that by the end of the year, China’s coal imports could be 8 percent below 2013 levels.
Mongolia: The Next Asian Tiger?
The news of July’s agreement in principle of the Mongolia-Japan Free Trade Agreement (FTA) was merely another addition to Tokyo’s stable of trade agreements in Asia. But for Mongolia, the trade pact with Japan is of far more significance—and not merely because it was with the world’s third largest economy. The conclusion of negotiations represents [...]
Mongolia Said to Cut Tax Claim in Bid Revive Rio Mine
Mongolia has cut the amount of tax it’s claiming from Rio Tinto Group (RIO) in a bid to revive the $4 billion expansion of the Oyu Tolgoi copper and gold mine, people familiar with the situation said.
Uranium: Not if but when
Presenters at a uranium seminar organised this week by the London branch of Women in Mining, and sponsored by Fission Uranium, from a broad spectrum of the industry were all in agreement that uranium prices would likely rise substantially, but perhaps not yet – only in the medium to long term. And medium to long [...]
Turquoise Hill up 22% after Oyu Tolgoi tax bill slashed
Shares in Turquoise Hill Resources (TSE:TRQ) gained sharply for a second day in a row after unconfirmed reports that Mongolian authorities have slashed the amount of tax claimed in a dispute over the Rio Tinto-subsidiary’s Oyu Tolgoi mine.
Is Mongolia’s mining boom causing Ulan Bator to run out of water?
Water is already scarce in Ulan Bator. But with the mining industry competing with energy facilities, agriculture and urban residents for water resources, the problem will intensify, as analyst Qingfeng Zhang tells DW.
About 20% of Chile’s largest copper mines closed or reconverted by 2025
Close to 20% of Chile’s largest copper mines will be closed or reconverted by 2025, as the country faces a challenging scenario, marked by falling ore grades at its aging mines, sliding copper price and rising costs.
Met coal could be reaching a cyclical low
A particular type of coal – called metallurgical coal or coking coal – is used in the process of manufacturing of steel. After reaching a six-year low in its price and recent industry cutbacks to production, metallurgical coal is showing classic signs of a resource that is ready for a cyclical uptrend.
A forecast of when we’ll run out of each metal
Here is one interpretation of when we’ll run out of each metal or energy source. While the technicalities of some of this information can be debated, I think the general theme runs the same. There is a limited supply of these commodities – and if there are no discoveries, no price changes, and no changes [...]
Ivanhoe transfers 26% of S. Africa’s platinum project to locals
Africa-focused Ivanhoe Mines (TSX:IVN) said Thursday it has completed an empowerment deal on its Platreef project in South Africa, which leaves 26% of the venture in hands of local communities.
Rio Tinto appoints new chief of Mongolia Oyu Tolgoi copper mine
Global mining giant Rio Tinto has appointed a new chief executive for the $6.5-billion Oyu Tolgoi copper-gold deposit in Mongolia as it bids to restart construction for the long-postponed second phase of the project.
Rio Tinto’s SouthGobi Makes Second Distress Call as Coal Slumps
SouthGobi Resources Ltd. (1878), a Mongolian coal miner controlled by Rio Tinto Plc, said it’s seeking additional funding for a second time in six months to stay in business amid a slump in coal prices.
New $15bn coal mine in Australia to hire over 5,000 workers
The developer of Australia’s US$15bn Carmichael coal mine, one of the world’s largest fossil fuel projects, said it will start hiring the over 5,000 people it needs for the construction phase beginning next year.