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Copper prices weigh on Rio Tinto’s looming decision on Oyu Tolgoi expansion
Rio Tinto’s (LON:RIO) decision on its long-delayed expansion of the Oyu Tolgoi copper and gold mine in Mongolia is likely to be affected by the current slump of the metal, which hit a fresh six-year low this week.
Rio Tinto set to decide on expansion of Mongolia copper mine
Rio Tinto is lining up project financing for a $4 billion expansion of its long-delayed Oyu Tolgoi copper mine in Mongolia and will make a final investment decision early next year, a senior executive said on Thursday.
These 6 metals, minerals back to greenfield pricing by 2020
It’s hard to find an analysis of the mining and minerals sector that offers even a glimpse of a brighter future.
Dr Copper, the economy and the stock market no longer in sync
Doctor copper, can no longer be viewed as a leading indicator, in fact, a name change might be in order. A change of name from Dr Copper to deadbeat copper might in order, given its dismal record over the years. After the financial crisis of 2008-2009, the economy, the stock markets and copper parted ways; [...]
China and India drive recent changes in world coal trade
According to the US Energy Information Administration (EIA), global trade of coal grew dramatically from 2008 to 2013, but in 2014, it declined for the first time in 21 years. China and India accounted for 98% of the increase in world coal trade from 2008 to 2013, but declines in China’s import demand have led [...]
Global coal imports heading for second year of ‘dramatic’ drops
This has been a particularly bad week for the global coal industry, already battling multi-year low prices for the commodity.
Shenhua’s Inner Mongolia coalmining scandal highlights local fears
The trees died. The wells went dry. Sand dunes blew in and covered once-lush pasture. Watercourses stopped running, lakes shrank. In some places groundwater levels fell up to 100 metres.
Xanadu Mines to drill for more copper as investors increase support
Major investors in Xanadu Mines (ASX:XAM) have committed to extend their support for the company’s Kharmagtai copper project in Mongolia by participating in an expansion of a recent fundraising drive.
Top 15 copper mines worth $103bn less than a week ago
It’s been a brutal November on copper markets with a only one up day of trading since the start of the month. Just over the last week the price has fallen more than 7%.
Copper price hits fresh six year low as Paris attacks continue to weigh in
Copper prices extended losses on Tuesday, hitting a fresh six-year low as the terror attacks in Paris added to concerns about the global economy that have caused a month-long selloff.
Caterpillar: Supercycle China isn’t coming back
With revenues of $50 billion a year and operations at the ends of the earth, few companies are in a better position to take the pulse of the global economy and the resource sector in particular than Caterpillar.
World coal consumption to drop up to 4% further by year-end
After peaking in 2013, world coal consumption has been dramatically falling in the last two years and, according to the Institute for Energy Economics and Financial Analysis (IEEFA), it is on track to decline an additional 2% to 4% before the end of the year.
World’s Second-Biggest Miner Unfazed by China Growth Pessimists
The head of the world’s second-biggest mining company says he’s unfazed by pessimism around China’s ability to meet official economic growth forecasts that are critical to the fortunes of the embattled industry.
This is Hillary Clinton’s $30bn plan to save coal miners
US Democratic presidential candidate and former Secretary of State Hillary Clinton doesn’t believe in coal mining, but is willing to spend $30 billion on a plan aimed at revitalizing communities dependent on production of the fossil fuel.
China’s coal slide
Once praised as the fount of eternal growth, China has become the bearer of bad news for the coal industry. The world’s second largest economy is beating up its once beloved fuel with a combination of slower growth, weak energy demand, a persistent supply glut, industrial accidents, currency devaluations and tightening environmental restrictions.
These 10 mines will set the copper price for the next decade
Chile’s state-owned copper giant Codelco’s announcement today of another round of layoffs is just the latest sign of an industry under stress. Copper has recovered from six-year lows struck late August on the back of supply cuts by major producers but at around $2.30 a pound or $5,000 per tonne on Tuesday there isn’t much [...]
Guildford Coal to rebrand as it focuses on BNU
The weak global market conditions and volatility in the resource market continues to pose significant economic and funding challenges for junior and mid-tear mining companies around the world. One such company battling to survive is Mongolia focused coal company, Guildford Coal, which recently announced a change of name and debt restructuring plan.
China’s new 5-year plan brilliant news for mining
The end of China’s one-child policy has grabbed all the headlines, but the Fifth Plenary Session of the 18th Central Committee of the Communist Party of China (to give its full designation) also outlined the direction of the world’s second largest economy over the next five years.
“Ростех” получил монгольскую медь
“Ростех” стал акционером горнорудных российско-монгольских СП “Эрдэнэт” и “Монголросцветмет”. В последние годы российская сторона имела значительные претензии к работе компаний: невыплата $47 млн дивидендов за 2012 год, отсутствие управленческого контроля и так далее. В “Ростехе” намерены усилить управленческую команду СП и не исключают, что будут забирать причитающуюся РФ долю добычи, но для этого придется договариваться [...]
Canada’s Ivanhoe to start copper production at new DRC mine in 2018
Canada’s Ivanhoe Mines (TSX: IVN) expects to begin mining copper from its giant Kamoa project in the Democratic Republic of Congo in late 2018, as the company foresees a looming deficit in the market and rising global demand.
ЯПОНИЯ НЕ ОТДАЕТ МОНГОЛИЮ КИТАЮ. БРАВО, ГОСПОДИН АБЭ!
Премьер Японии Синдзо Абэ заявил в Улан-Баторе, что Япония готова поддерживать Монголию на пути создания собственной стабильной экономики и самообеспечивающего развития. Япония передаст степной республике технологии по производству моторного топлива из угля и построит там железные дороги широкой колеи с угольного месторождения Тавантолгой до будущего суперцентра углехимии города Сайншанд. Сайншанд расположен на Улан-Баторской магистрали, позволяющей [...]
Rio Tinto vows to not cut copper output despite falling prices
Rio Tinto has warned that it will not cut copper production, saying it would be illogical to hold back output and leave space in the market for higher-cost rivals.
Southeast Asian coal demand to boom
Rapid growth in demand for energy in southeast Asia will drive strong growth in demand for coal, according to a new study from the International Energy Agency (IEA), with the fuel accounting for 50% of the energy mix in the region by 2040.