Ангилал: Уул уурхай
Tax breakthrough at Rio Tinto’s Mongolia copper mine
Rio Tinto and Mongolia have made a breakthrough in a tax dispute that has been among issues stalling development of the $6.5 billion Oyu Tolgoi copper mine, according to an official familiar with the government’s position.
Rio’s CEO Says Oyu Tolgoi Talks Down to Deal Breaker Issues
Rio Tinto Group, the world’s second-largest mining company, is locked in talks with Mongolia over developing the second stage of the Oyu Tolgoi copper and gold mine, saying only a few matters remain on the table.
Turquoise Hill Resources Stock Rating Lowered by TheStreet (TRQ)
Turquoise Hill Resources (NYSE:TRQ) was downgraded by equities research analysts at TheStreet from a “hold” rating to an “e+” rating in a research note issued to investors on Thursday.
Rio Tinto CEO says Nov plan to restart Oyu Tolgoi was “best and final offer”
Proposals made to the Mongolian government by global mining giant Rio Tinto last November to restart the long-delayed Oyu Tolgoi copper mine were the firm’s “best and final offer” and won’t be changed, Rio’s chief executive said.
China’s coal use falling faster than expected
As the use of cleaner-burning fuels and slowing economic growth drags thermal utilisation rates to a potential record low, China is reducing coal use for power generation faster than expected, implying imports and prices will fall further.
Khan Provides Update on International Arbitration Award
Khan Resources Inc. (“Khan” or the “Company”) (CSE:KRI) announced on March 2, 2015 that an international arbitration tribunal had rendered an award to Khan as compensation for the Government of Mongolia’s actions in relation to the cancellation of Khan’s uranium licenses in 2009. The award is now due from the Government of Mongolia and Monatom [...]
Rio CEO to visit troubled Mongolia copper mine – sources
Rio Tinto’s chief executive will visit its $6.5 billion Oyu Tolgoi copper mine in Mongolia on Sunday, two people familiar with the visit said, amid signs the country’s new prime minister is keen to end disputes that have delayed an expansion project.
Mongolian Mining May Deplete Cash by End of Year, Moody’s Says
High costs and low coal prices mean Mongolian Mining Corp. could run out of cash by the end of the year, according to Moody’s Investors Service.
Mining for copper just got a lot cheaper
The times in which copper miners had to choose between cutting production and sustaining losses seem to be over, as a new study shows the costs of mining for the red metal have steadily declined over the past three years.
SouthGobi Rejects Mongolia Tax Evasion Ruling After Appeal Fails
Canada’s SouthGobi Resources Ltd. said it will continue its legal defense after losing its appeal to overturn a ruling that it evaded taxes in Mongolia.
Coal markets in motion
Long-term forecasts by the private and public sectors predict that coal will continue to play a significant role in the global energy mix for decades to come. At the same time, coal is the largest source of carbon dioxide and other harmful emissions.
Zijin Mining buys 10% of Canada’s Ivanhoe Mines
Chinese gold and copper miner Zijin Mining Group is buying a 10% stake in Ivanhoe Mines (TSX:IVN), the Canadian group run by billionaire Robert Friedland with gold, copper, platinum and other metals assets in Africa.
SouthGobi’s Appeal in Tax Case Will Be Heard by Mongolia’s Court of Appeal on March 25, 2015
SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) (“SouthGobi” or the “Company”) announced on February 1, 2015, that on January 30, 2015, three former employees of SouthGobi Sands LLC (“SGS”), the Company’s Mongolian subsidiary, were found guilty of tax evasion by the panel of appointed judges from the Second District Criminal Court of Justice. Sentences for the former employees [...]
Chinese capital shuts third coal-fired plant in war on smog
China’s smog-hit capital Beijing has shut down the third of its four coal-fired power plants as part of its campaign to cut pollution, with the final one scheduled to close next year, the official Xinhua news agency has said.
Coal projects, port expansion could permanently damage Great Barrier Reef: report
The Great Barrier Reef is at risk of permanent damage should huge coalmining and a port development in Queensland go ahead, scientists say in a new report.
Oyu Tolgoi Files Statutory Feasibility Study
Turquoise Hill Resources today announced that Oyu Tolgoi has filed a statutory 2015 Oyu Tolgoi Feasibility Study (OTFS 2015) with the Mongolian Minerals Council (MMC). Under Mongolian law, Oyu Tolgoi is required to submit an update to the feasibility study at least every five years; the 2009 Oyu Tolgoi Feasibility Study was accepted in March [...]
Prophecy Reports Progress on Chandgana Mine Mouth Power Plant Project in Mongolia
Prophecy Development Corp. (“Prophecy”) (PCY)(otcqx:PRPCF)(frankfurt:1P2) is pleased to announce the following update on its flagship Chandgana Mine Mouth Power Plant Project in central Mongolia.
Aspire Mining secures extension to US$5M loan from Noble Group
Aspire Mining (ASX:AKM) has secured a 12 month extension to a US$5 million loan from Noble Group (SGX:N21) and has also agreed to an option to acquire Noble’s 50% interest in the Ekhgoviin Chuluu Joint Venture.
SouthGobi Resources Announces Resignation of Enkh-Amgalan Sengee as President and Chief Executive Officer
SouthGobi Resources Ltd. (TSX:SGQ) (HKSE:1878) (“SouthGobi” or the “Company”) announces that effective March 13, 2015, Mr. Enkh-Amgalan Sengee, President and Chief Executive Officer, resigned to pursue other opportunities.
Mongolia’s Debt to Chalco Stalling $4 Billion Tavan Tolgoi Deal
Mongolia’s accord with a group planning to develop its largest coking coal deposit for $4 billion is being stalled by the government’s $150 million debt to a Chinese state-owned company, Mongolian minister Enkhsaikhan Mendsaikhan said.
The Mongolian Mining Referendum: Extractive Resource Policy via SMS Poll
Earlier this year, the Mongolian prime minister initiated an SMS poll to solicit feedback from citizens on how they though the government should stabilize the tugruk, the Mongolian currency. The two options Mongolian cell phone owners were given in the three-day poll were whether the government should advance big mining and other large infrastructure projects, [...]
Кубат Рахимов: РЖД нужно быть активнее на монгольском направлении
«Можно говорить о перезагрузке планов развития железнодорожной сети Монголии в неконфликтном и компромиссном режиме с учетом интересов России и Китая», — считает эксперт в области транспорта и логистики Кубат Рахимов. В интервью корреспонденту ИА REGNUM он отметил, что многие вопросы по развитию железных дорог в Монголии, включая существующие сети, которые тесно интегрированы в систему российских [...]
Moody’s changes North American coal industry outlook to ‘negative’
The outlook for the North American coal industry had been changed to ‘negative’ from ‘stable’, Moody’s Investors Service said in a new report.
Mongolia desperate to kick-start deal
Talks to allow a consortium led by China’s Shenhua Energy to take over Mongolia’s largest coal mine have yet to be completed, with the project still paying off debts to another Chinese state miner, an official has said.
Mongolia’s Mining Troubles: Opportunity or Calamity?
Several years ago, Mongolia was touted as a hot investment locale for mining companies, given its rich mineral resources – particularly gold, copper, uranium, and coal – and the previously low level of exploration and development.
Khan Resources Director Raffi Babikian Sells 71,000 Shares
Khan Resources (TSE:KRI) Director Raffi Babikian sold 71,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of C$0.50, for a total value of C$35,500.00.
Negotiations drawn out over Mongolia’s largest coal mine
Talks to allow a consortium led by China’s Shenhua Energy to take over Mongolia’s largest coal mine have yet to be completed, with the project still paying off debts to another Chinese state miner, an official said on Tuesday.
Japan seeks coal, but not Australian coal
As utilities start to fire up cheap coal power generators to get ready for the upcoming full liberalisation of Japan’s power and gas market, the nation’s two biggest oil refiners are also competing to get in on the action.