Ангилал: Уул уурхай
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 [...]
Copper price jumps as China imports hit all-time high
At the end of November copper hit an 18-month high on the back of optimism about the possible impact of president-elect Donald Trump’s $500 billion-plus infrastructure plan on the metal, widely used in construction, manufacturing transportation and power industries.
Metal Price Collapse And China Exodus Push Mongolia To A Risky Economic Brink
Once upon a time Mongolia was happening. Mining firms from Australia, China, Russia and North America were digging up the vast country for the likes of gold and copper. People had jobs and money to spend. Then in 2014 foreign investment began to fall along with a global decline in commodity prices. China’s step back [...]
Iron ore, copper prices jump on upbeat economic forecasts
Commodity bulls got a hold of the two biggest mining markets on Tuesday providing both copper and iron ore a more than 3% boost in price after upbeat news from top consumer China and forecasts of strong growth in the US.
Coking coal price crashes through $200
It’s only been a week of trading, but the year to date fall in the price of coking coal has already reached 17%. The steelmaking raw material is also now $120 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
Erdene new gold zone at Mongolia Bayan Khundii project larger than expected
Canada’s Erdene Resource (TSX:ERD), one of the very few miners to never have encountered issues in Mongolia, unveiled Tuesday results for nine diamond drill holes from its step-out program at Bayan Khundii gold project, which shows a discovery made in October is larger than originally thought.
Erdenet to Ovoot Railway determined feasible
Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Ltd, has, through its rail subsidiary, Northern Railways LLC (NR), received the first stage feasibility study from China Railway First Survey and Design Institute Group Co. Ltd (FSDI) for the Erdenet to Ovoot Railway in Mongolia.
Coking coal price correction turns into rout
It’s only the 5th, but the year to date fall in the price of coking coal has already reached 8%. The steelmaking raw material is also a round $100 below its multi-year high of $308.80 per tonne (Australia free-on-board premium hard coking coal tracked by the Steel Index) hit in November.
China to plow $360 billion into renewable fuel by 2020
China will plow 2.5 trillion yuan ($361 billion) into renewable power generation by 2020, the country’s energy agency said on Thursday, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels.
Copper to be best performing commodity of 2017 — analysts
Copper, until recently one of the worst performing commodities of the past two years, experienced a sudden spike at the end of 2016, posing several questions as to the direction of the market as we move into 2017.
China coal output, demand to rise even as excess under fire
China expects coal output and demand to increase by 2020 even as it aims to cut 800 million tonnes of outdated capacity as the world’s largest consumer of the fuel ramps up years-long efforts to tackle smog and make its manufacturing sector more efficient.
Gold producers eye Xanadu as Mongolia gets its act together
Australian gold producers are among a host of mining companies that have taken a close look at Mongolian explorer Xanadu Mines in recent weeks, with a shortage of new discoveries, improving appetite for acquisitions and recent policy stability in Mongolia putting the nation’s stalled mining industry back on track. Xanadu’s Ulaanbaatar-based managing director Andrew Stewart [...]