Ангилал: Уул уурхай
Mongolia Eager for Oyu Tolgoi Deal by Year End, Official Says
Mongolia’s prime minister is pushing to end the deadlock with Rio Tinto Group (RIO) over the expansion of the Oyu Tolgoi copper and gold mine by the end of this year, according to an industry official of the landlocked nation.
Chile passes historic law to aid copper giant Codelco
Chilean President Michelle Bachelet has enacted a law to spur the output of state-owned copper giant Codelco, which will receive special capital contribution of US$4 billion between 2014 and 2018.
Китай – теперь «указ» для Монголии?
Узкая колея или широкая? При всей, на первый взгляд, “специальности” этого вопроса, ответ на него для Монголии означает не только её экономическое будущее – благополучное или не очень. Но и в плане геополитическом определяет: “с кем” Монголия окажется завтра “в одной лодке”. Монгольский автор АРД Наран Баатар анализирует, что стало причиной решения Великого Хурала о [...]
Bowdoin’s ‘toxic’ son
Robert Friedland is a man addicted to risk and profit. His life has taken him from a first year classroom at Bowdoin, to a cell in federal prison, to a commune with Steve Jobs, to a gold mine in Guyana, to the Forbes list of billionaires. This career trajectory may be unorthodox, but his desire [...]
New Internationalist: Robert Friedland
Robert Friedland is a ‘self-made’ billionaire. He made number 645 on the Forbes list of the richest Americans in 2006, with wealth close to $1.2 billion. Described as ‘arrogant, petulant, insulting’ but also ‘intelligent’, ‘flamboyant’ and ‘an evil genius’ by his friend Doug Casey, in 2003 he was named ‘Mining’s Biggest Renegade’ at the Dirty [...]
Mongolia Coal Miners ‘Burning Cash’ as Prices Drop, Moody’s Says
Mongolian coal producers are “burning cash” and face pressure in the next 12 months because low prices and weak demand from China will persist, according to Moody’s Investors Service.
Stefan Ioannou: copper, nickel and zinc won’t be cheap for long
The all-powerful U.S. dollar is currently hammering base metals and base metal equities. Haywood Securities Mining Analyst Stefan Ioannou says that increasing demand and near-term supply shortages make base metals a bargain that won’t last. In this interview with The Mining Report, Ioannou argues that juniors with good deposits and low costs are in a [...]
Rio’s Walsh gets big backing from shareholders, to stay longer as CEO
Rio Tinto’s (ASX, LON, NYSE:RIO) Sam Walsh will continue as chief executive of the company beyond the end of 2015 after the mining group extended his tenure on Thursday in a move seen as an attempt to strengthen the firm’s image.
Massive Mongolian mine endangers nomads’ water, way of life
KHANBOGD, Mongolia – Ichinkhorloo Buya scooped fresh water into the camels’ trough and waited for them to return. The whooshing water always beckoned the animals, with their sharp sense of hearing, home.
Rio Tinto share price: Group steps up pressure on Mongolia
Rio Tinto Plc (LON:RIO) has said that the $5.4 billion (£3.4 billion) underground expansion of its Oyu Tolgoi gold and copper mine is in the hands of the Mongolian government after 18 months of negotiations, The Australian has reported.
Rio Tinto misses $4.2bn financing deadline for Oyu Tolgoi expansion in Mongolia
Mining giant Rio Tinto has deliberately missed the 30 September deadline of financing $4.2bn for the underground expansion of the Oyu Tolgoi copper-gold mine in Mongolia.
Copper hopes ‘bright despite volatility’
Copper is set for a period of price volatility as the market digests new supply but long-term prospects remain bright due to grade declines and extended lead times for new projects, according to global miner Rio Tinto.
Low oil prices hurting U.S. shale operations
The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. 17, compared to the prior week. There are now 1,590 active oil rigs, the [...]
Rio turns up heat on Mongolia over mine impasse
RIO Tinto has turned up the pressure on the Mongolian government to resolve the impasse over a $US5.4 billion ($6.1bn) development of the underground resource at the Oyu Tolgoi copper/gold mine, saying the ball was now in the government’s hands.
National United Resources : Buys Mongolia Coal Logistics Stake
National United Resources announces acquisition of 90% equities in Takhidagkhairkhan Limited Liability Company with Foreign Investment. Considration falls from CNY 290 million to CNY 150 million, which includes CNY 75 million in cash and CNY 75 million six-month 0.006% acceptance bills.
3 Types of Coal Mining
The coal sector has faced many obstacles through the years and today it’s no different. The sector continues to endure low prices and tough market conditions forcing many companies to cut back on operations and their workforce. The need for coal, however, is still prevalent.
Copper in supply deficit for fifth successive year
Is deflation looming? Or are the commodity markets warning of a major economic crash ahead? If one follows them one of these scenarios (or a combination of both) is looking very much on the cards. Take copper, renowned as a global industrial bellwether, for example. According to the latest estimates from the International Copper Study [...]
Global supply glut increases iron-ore downside risks – Moody’s
A growing oversupply in the iron-ore market was damaging the credit quality of producers and posed risks to the downside, Moody’s Investors Service noted last week in a sector comment; ‘Iron-ore supply increases pose risk to market fundamentals’.
Polish coal miner slashes production forecast amid restructuring
Poland-owned JSW, the largest coking coal miner in the European Union, has cut its 2014 production target by 9% to 12% and slashed investment in an effort to regain profitability after steep falls in coal prices and an ongoing corporate restructuring.
Copper price back below $3 on supply worries, Chinese GDP
In New York trade on the Comex market on Monday, December copper dipped to $2.9670 a pound, falling below the the psychologically important $3-level for only the second time since March’s near 4-year low.
The coal industry is in a state of denial – Russell
These days you would expect a gathering of coal industry executives to be a fairly gloomy affair, given the drop in prices to near seven-year lows, the increasing threat of regulation to control pollution and the general image of the fuel as the main climate change culprit.