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China’s steelmakers the relative winners in coking coal surge: Russell
While no steel maker will be happy with the explosion in coking coal prices, Chinese mills are the best placed to deal with the impact, given they are nowhere near as exposed to spot prices as competitors in the rest of Asia and Europe.
TerraCom signs offtake agreement for Mongolian coal
TerraCom has agreed a 5.5 year offtake agreement for hard coking coal (HCC) from the BNU coal mine in South Gobi, Mongolia, with Kingho Group, one the largest private companies in China.
Turquoise Hill Resources Ltd. (NYSE:TRQ) currently has Insider Ownership of 49.5%
Turquoise Hill Resources Ltd. (NYSE:TRQ) traded with the volume of 2.14 Million Yesterday. The Stock Opened its session at $2.99 and closed at 3.04 by showing an increase of 2.36 percent. Turquoise Hill Resources Ltd. has 1 year price target of 4. The stock gained a consensus recommendation of 3 on Zacks Investment Research where [...]
Thermal coal just hit $100 per tonne and may stay this high until 2017
The amazing rally in thermal coal reached a whole new level Tuesday after Australian spot prices hit $100 per tonne for the first time since 2012.
Is Selling Stock Like Turquoise Hill Resources Ltd After Such Decline Winning Strategy?
The stock of Turquoise Hill Resources Ltd (TSE:TRQ) is a huge mover today! About 192,147 shares traded hands. Turquoise Hill Resources Ltd (TSE:TRQ) has risen 9.12% since March 10, 2016 and is uptrending. It has outperformed by 3.50% the S&P500.
Wind, solar power plants cheaper than coal in a decade
While met coal is clearly the star performer of the 2016 rally in mining and metals, thermal coal is probably the biggest surprise – seaborne prices are up 65% in 2016 to above $80 a tonne.
Copper price slump devastating Chile state finances
Amid a broad rally in mining and metals, the red metal’s performance has been lacklustre managing only a 2.2% gain in 2016, following a drop of 26% last year.
Futures markets point to ‘overcooked’ coking coal price
Metallurgical coal was exchanging hands at $213.40 on Tuesday according to data provided by Steel Index, where it has been most of this week as Chinese traders enjoy the annual Golden Week holiday.
Rio CEO Says Mongolia Won’t Receive Mine Dividend for 10 Years
Rio Tinto Group said Mongolia won’t receive any dividend from the giant Oyu Tolgoi mine for 10 years as the world’s second-biggest mining company prioritizes completing a $5.3 billion underground expansion.
China to reach target in cutting coal overcapacity by year-end
China’s effort to cut surplus capacity in the coal industry and, at the same time, manage pollution in most of its major cities, are paying off earlier than anticipated, with the world’s largest producer of the commodity anticipating it will reach its targets by year-end, which is earlier than planned.
Extreme pollution forces China to shut down hundreds of coal, steel operations
China is stepping up its war on pollution by forcing hundreds of coal and steel companies to close or slash output in light of their transgressions to environmental and safety regulations.
Metallurgical coal spot prices reach US$209/short t
As of 22 September 2016, metallurgical coal spot price reached US$209/short t.
Mongolia to get rid of economic difficulties to help Asian investment bank: want to repair the railway connecting Europe transit China
The recent economic crisis hit Mongolia, the Northeast Asia country has to giant tower temperature Tolgoi to restart the stalled (Tavan Tolgoi) coal mine, in addition, Mongolia also want to start some railway projects, the investment bank and intends to set up to help China initiative, in order to attract investment and promote trade, deal [...]
Turquoise Hill Resources Receives Average Rating of “Hold” from Analysts (NYSE:TRQ)
Turquoise Hill Resources (NYSE:TRQ) has been assigned an average rating of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective [...]
Rio Tinto is no longer worried about China’s growth
World’s second largest miner Rio Tinto (ASX, LON:RIO) injected some much-needed optimism in the markets Monday by saying that while China’s short-term demand remains difficult to read, the long-term outlook is looking much brighter than a few months ago.
Economic collapse, Mongolia, China to restart the Tao Le cover coal mine tender: Shenhua two setbacks in the project
In order to stimulate its economy, Mongolia is expected to restart in the south of the country, the world’s largest coal tower Tolgoi tender.
Coking coal prices are on fire — up more than 80% in six months
Prices of coking coal, the steel-making kind, keep soaring on slowing supply growth from China and increased demand from Indian steel mills.
Mongolia asks Rio Tinto to speed up work on giant copper mine
Mongolia’s prime minister has asked Anglo-Australian miner Rio Tinto to step up the pace of construction at the giant Oyu Tolgoi copper-gold mine, part of efforts to revive the country’s debt-ridden economy.
Erdene provides update on gold projects in Mongolia
Erdene Resource Development Corp. (TSX:ERD) (“Erdene” or “Company”), is pleased to provide an update on its 100%-owned Bayan Khundii Gold Project (“Bayan Khundii”) and Altan Nar Gold-Polymetallic Project (“Altan Nar”). In advance of the resumption of drilling in September 2016, the Company has been carrying out extensive technical studies on the styles and controls of [...]
Growth in Chinese thermal coal imports won’t last
Recent increases in thermal coal imports in China may appear promising, but a new report from BMI Research states that Chinese coal consumption has already peaked. BMI forecast that Chinese coal imports will continue to grow strongly for only a few months; after that, there will be a gradual decline in coal imports from 2017 [...]
Copper price is going nowhere
Credit ratings agency Moody’s warned at the beginning of the year that the current downturn in raw materials was like no other and that defaults among mining and metals companies could reach levels last seen during the height of the financial crisis.
Aspire starts feasibility study for Mongolia rail project
Mongolian metallurgical coal explorer and infrastructure company Aspire Mining has started the first stage of the rail feasibility study for the Erdenet to Ovoot railway, which is critical to the development of the Ovoot coking coal project.
Coal’s rally is at risk from lower China imports in August
If you believe that thermal coal’s rally this year has been largely on the back of rising Chinese imports, it follows that any sign of moderation in demand in the world’s biggest buyer would raise a red flag of caution.
China’s Closing Coal Mines Too Slow to Meet Capacity-Cut Targets
China urged state-owned coal producers to accelerate mine closures in order to meet year-end targets as part of President Xi Jinping’s drive to curb industrial overcapacity.
$60 iron ore price see Australia, Brazil lose market share
The import price of 62% Fe content ore at the port of Tianjin jumped back above $60 per dry metric tonne level on Friday according to data supplied by The Steel Index.
Copper price falls again despite monster Chinese imports
In New York trade on Tuesday copper for delivery in September suffered another down day despite indications of continued strong Chinese demand.
China’s war on coal keeps fuelling prices recovery — up 30% since April
Despite grim outlooks and US-led global efforts to reduce dependence on fossil fuels, the coal industry is experiencing an unexpected but welcome windfall with prices for the commodity soaring more than 30% in the last four months.
Copper production growing by 1m tonnes a year
Global copper production capacity at mine level through 2019 is expected to grow at a robust average annual rate of 4% to reach 26.5 million tonnes (mt) a year in 2019, according to a new report by the International Copper Study Group.