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Thermal coal prices hit 6-year high
Benchmark seaborne thermal coal prices jumped to $120.10 per tonne on Thursday, its highest level since November 2012, thanks to tight supply in key Asian export regions. Measured from lows hit end-2015, early 2016 coal used in power generation has gained 140%.
Former Rio Tinto exec jailed for corruption in China let free
Former Rio Tinto’s head of iron ore business in China, Stern Hu, has been released Wednesday after spending nearly nine years in prison in Shanghai, following a 2010 conviction for corruption and industrial espionage.
Copper price rallies to highest since January 2014
Copper’s stunning rally this week continued in New York on Thursday with the metal touching a high of $3.32 a pound ($7,310 a tonne), the highest since January 2014, before paring some of those gains as worries about labour-related supply disruptions in key producing regions resurface.
Rio Tinto says investors to take stance on Oyu Tolgoi as ‘test case’
Rio Tinto’s copper and diamond chief executive Arnaud Soirat has put pressure on Mongolia to support its planned $5.3 billion Oyu Tolgoi mine underground expansion, saying foreign companies will be looking at it as a “test case” for future investment.
Rio Tinto says climbing costs, resource nationalism once again big threats
World’s No.2 miner Rio Tinto (LON, ASX:RIO) said Tuesday that cost inflation driven by rising oil prices and a resurgence of resource nationalism are increasingly affecting mining companies’ investment decisions.
Xanadu Mines intersects over 800 metres of near-continuous copper and gold
Xanadu Mines Ltd (ASX:XAM) has received deeper results from its discovery diamond drill hole at the new Zaraa porphyry within its flagship Kharmagtai Copper-Gold Project in Mongolia.
Mongolian Copper Corp considers international fight for Erdenet mine
Mongolian Copper Corporation (MCC) is considering international arbitration ahead of an expected government appeal against a court ruling the state’s attempt to buy MCC’s stake in one of Asia’s biggest copper mines is illegal, the company said.
Copper price bears are out as first surplus in six years predicted
On Tuesday copper for delivery in May advanced to a two-week high on the Comex market in New York at $3.065 per pound or $6,755 a tonne after positive manufacturing data from China, the globe’s number one metals consumer.
Rio Sees $5 Billion Copper Expansion on Track Amid Probe
Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3 billion expansion remains on track, according to the producer’s top executive.
Swiss probe Rio Tinto over possible bribes, ex-Mongolian minister expects to be cleared
Swiss prosecutors confirmed on Wednesday they were investigating whether miner Rio Tinto paid bribes linked to the landmark Oyu Tolgoi copper-gold mine.
Rio to build power plant at Oyu Tolgoi copper-gold mine in Mongolia
Mining giant Rio Tinto (LON, ASX:RIO) will seek approval to build a power plant at its giant Oyu Tolgoi copper and gold mine in Mongolia and so comply with a 2009 investment agreement that calls for local suppliers to power the operation.
Apple in talks to buy cobalt directly from miners
Tech giant Apple Inc (NASDAQ: AAPL) is said to be in talks to buy long-term supplies of cobalt directly from miners as a way to ensure sufficient supply of the metal, an essential ingredient in the batteries that power its iPhone.
Xanadu Mines steps-up drilling to boost copper-gold bounty in Mongolia
Xanadu Mines Ltd (ASX:XAM) is stepping up drilling at its Kharmagtai project in Mongolia as it seeks to expand existing copper-gold resources and test near-surface regional targets.
Australian coal exports valued at AUS$56.5 billion in 2017
The latest trade data from the Australian Bureau of Statistics shows that coal exports in 2017 were valued at AUS$56.5 billion, 35% higher than in 2016. This is the highest ever annual value of coal exports – the previous record was AUS$46.7 billion in 2011.
Mongolia’s Oyu Tolgoi declares force majeure after border protests
The Oyu Tolgoi copper-gold mine in Mongolia’s southern Gobi Desert declared force majeure after protests by Chinese coal haulers disrupted deliveries near the border, majority owner Turquoise Hill said Wednesday.
Copper falls most in six weeks as metals rally starts to give
After a robust rally, metals prices are starting to pull back.
Copper rallies to three-year high as China plant halts output
Copper in London surged to the highest in almost four years after China ordered its top producer to halt output to combat winter pollution, fueling a rally this year driven by optimism about demand and supply disruptions at mines.
China’s November coal imports from Australia slip on port congestion: customs
Chinese imports of coal from key supplier Australia slipped in November from a year ago, customs data showed, hit by heavy traffic congestion in Australian ports.
Massive Oyu Tolgoi mine to more than double gold production in 2018
Rio Tinto-controlled Turquoise Hill (TSX:TRQ) is expecting its majority-owned Oyu Tolgoi copper and gold mine in Mongolia to churn in 2018 more than double the amount of the precious metal forecast for this year, with operating costs dropping about 2.8%.
Solar Bankers Secures Lithium Mining Rights in Mongolia
Solar Bankers has secured offtake rights for a large reserve of lithium in Mongolia together with a Swiss partner company. Lithium is a highly demanded precious metal with a wide range of uses and applications, most prominently in the production of batteries and other electronic devices. Lithium has gained importance in the renewable energy sector [...]
Scientists produce high-grade rare earths from coal
Scientists from the University of Kentucky have produced nearly-pure rare earth concentrates from coal, using an environmentally-conscious and cost-effective process.
Xanadu Mines drills high-grade copper below current resource in Mongolia
Xanadu Mines Ltd (ASX:XAM) has successfully drilled extensions of high-grade copper along strike and below the current resource at the Stockwork Hill deposit within the Kharmagtai project in Mongolia.
In bizarre twist, coal may become a scarce commodity: Russell
The idea of coal as a scarce commodity seems somewhat preposterous given it remains one of the most abundant mineral resources on the planet, but the coming years may see a deficit in seaborne markets for the polluting fuel.
Xi’s China a boon for mining
Most analysis of the 19th National Congress of the Communist Party of China has focused on how President Xi Jinping is consolidating his already considerable power acquired through a purge of opponents in a corruption crackdown that shows no sign of slowing down.
Copper price: Rio slashes production guidance
On Monday, the copper price surged to $3.25 a pound or $7,165 a tonne, its highest level in more than three-and-half years over optimism about the strength of the economy of top consumer China and worries about global supply.