www.unuudur.com: The latest news of Mongolia in the World

Mongolian coal producer SouthGobi Resources Ltd. has been forced to suspend mining operations from this month after an outbreak of Covid-19 closed the border to its customers in China, the company said in a statement on Tuesday.

VANCOUVER, British Columbia, Oct. 26, 2021 (GLOBE NEWSWIRE) — SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi” or the “Company”) wishes to inform its shareholders and potential investors that, based on the Company’s preliminary assessment of the unaudited management accounts for the quarter ended 30 September 2021 and the information currently available to the Company, it [...]

Truck after truck as far as the eye can see, as COVID-19 rules hold up drivers on China-Mongolia border. Truckers are increasingly desperate to deliver their coal cargoes after months of brutal delays and no pay.   Watch video: https://beta.dw.com/en/coal-truckers-stuck-at-mongolia-china-border/video-59640363  

Chilean copper miner Antofagasta (LON:ANTO) saw production for the three months ended in December fall by 5.8% as a result of massive protests against inequality in the South American country and issues affecting its flagship Los Pelambres mine and the Antucoya project.

A report by Fitch Research predicts that metallurgical coal prices will decline from their current high levels over the next 18 months.

The price of copper sank on Wednesday, losing more than 4% in New York to $2.7170 or $5,990 a tonne on the Comex market, its lowest level since July 20 last year.

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’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’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’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.

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 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 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.

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 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 prosecutors confirmed on Wednesday they were investigating whether miner Rio Tinto paid bribes linked to the landmark Oyu Tolgoi copper-gold mine.

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.

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 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.

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.

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.

After a robust rally, metals prices are starting to pull back.

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.

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.

In brisk trading on Thursday in New York, Comex copper enjoyed its 11th straight session of gains touching a two-month high of $3.2185 a pound ($7,095 per tonne).

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 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 from the University of Kentucky have produced nearly-pure rare earth concentrates from coal, using an environmentally-conscious and cost-effective process.

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.

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.