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China launches massive military manhunt for coal mine killers
An area double the size of Manhattan has been cordoned off as authorities pursue suspects following a coordinated knife attack that killed 60 workers at a northwestern Chinese coal mine, reports the FT.
Company Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) Rally 14.34%
Shares of Turquoise Hill Resources Ltd. (NYSE:TRQ) rose by 14.34% in the past week and 1% for the last 4 weeks. The shares have outperformed the S&P 500 by 10.73% in the past week but underperformed the index by 1.7% in the last 4 weeks.
Turquoise Hill Resources Ltd. (NYSE:TRQ) Announced Changing in Management Department
Turquoise Hill Resources Ltd. (NYSE:TRQ)(TREND ANALYSIS) announced the resignation of Stewart Beckman, Senior Vice President, Operations and Technical Development, effective October 1, 2015. Mr. Beckman has accepted a new position within Rio Tinto.
Aspire Mining finds more coal at Nuurstei, sets up early production prospects
Mongolian metallurgical coal explorer, Aspire Mining (ASX:AKM) has improved the profile of its Nuurstei project as a possible early-production operation as the medium to longer term mining and rail plan continue to unfold.
Erdene Discovers Bonanza Grade Gold in Southwest Mongolia
Erdene Resource Development Corp. (ERD) (“Erdene” or “Company”) is pleased to announce a significant discovery of a high-grade gold prospect, Bayan Khundii (Rich Valley), on its 100%-owned Khundii exploration license in southwest Mongolia, located 15 km south of the Company’s Altan Nar gold project.
Centerra Gold Receives Consensus Rating of “Hold” from Brokerages
Centerra Gold (TSE:CG) has received an average rating of “Hold” from the seven brokerages that are currently covering the firm, AnalystRatings.NET reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among [...]
Chinese coal company to cut 100 000 jobs
A Chinese coal producer has announced massive job cuts as it struggles against industry overcapacity and falling coal prices. Heilongjiang Longmay Mining Holding Group Co Ltd, the largest coal miner in northeast China, will layoff 100 000 words – or about 40% of its workforce.
China’s cap-and-trade more bad news for coal price
China burns almost as much coal as the rest of the world combined and is reliant on the fossil fuel for two-thirds of total energy consumption and 80% of its electricity generation.
Copper to come back up way before iron ore does: OZ Minerals
Copper prices are likely to recover before iron ore does as high tech products, including batteries and electric cars, are set to boost demand for the metal, the chief executive of OZ Minerals (ASX:OZL) Andrew Cole, told Noticiasdemineracao (in Portuguese).
Copper Leads Metals Slump as Zinc Falls to Lowest in Five Years
Copper led losses in industrial metals and zinc fell to a five-year low on concern that a weakening economy will reduce demand in China, the world’s biggest metals user.
Xanadu Mines finds even higher grade zones at Tsagaan Sudal
Xanadu Mines (ASX:XAM) has encountered significantly higher grade copper and gold from trenching that surpass average grades of the previously defined mineral resource at Tsagaan Sudal at the Kharmagtai copper-gold project in Mongolia.
Mongolia struggles to develop Tavan Tolgoi coal mine
Mongolia struggles to develop its largest coal mining project, Tavan Tolgoi, with reserves of 7.4 billion tonnes of coal, after the Mongolian Government failed to secure $4 billion in funds. Development of the mine, halted by politics and weak government institutions, reflects the resource curse as Mongolia’s Parliament failed to transfer ownership of the coal [...]
Mongolia banks on upside for copper
Rio Tinto says its US$6 ($8.35) billion expansion of the massive Oyu Tolgoi copper-gold project in Mongolia’s Gobi desert is a no-brainer and will go ahead despite the sharp slump in metal prices that has created investor unease.
As rivals blink, Rio Tinto plans to expand Mongolia copper mine
Rio Tinto said it is committed to expanding its Oyu Tolgoi copper mine in Mongolia based on a positive outlook for the metal and confidence that low production costs can buoy profits even as competitors cut output.
China’s coal consumption slows
A new report by the US Energy Information Agency (EIA) has indicated China’s coal consumption has slowed following almost a decade of fast expansion. A changing GDP, a reduction in economic growth, industry restructuring and new energy and environmental policies are reported to have all contributed to the slow down in consumption as well as [...]
Oyu Tolgoi Financing Set to Advance After Mongolian Approvals
Key government approvals for the expansion of Mongolia’s Oyu Tolgoi copper and gold mine will allow Rio Tinto Group and its partners to advance talks with lenders, according to the state-owned company that holds a stake in the project.
Coal production down in Indonesia
As a result of decreased global coal demand, coal miners in Indonesia have reduced coal production. For the first eight months (January-August) of 2015, production declined 15.4% to 263 million t whereas in the same period in 2014, it produced 311 million t.
Mongolia’s coal mine deal likely to stall
The Tavan Tolgoi coal mine in southern Mongolia is one of the world’s largest undeveloped coal deposits–estimated to contain reserves in excess of 6 billion tonnes of high-quality coking coal used for steelmaking, reports The Diplomat.
Will the copper price supply cut rally last?
In New York trade on Friday copper for delivery in December consolidated recent gains jumping to a nearly 8-week high of $2.4645 per pound or around $5,430 a tonne for a 6.5% rise during the holiday shortened week.
Met coal prices to remain subdued through 2016
Contract prices for metallurgical coal are likely to remain subdued in the short term, according to National Australia Bank (NAB), as demand for seaborne metallurgical coal weakens on falling Chinese imports.
Thermal coal prices steady at US$50 – US$60/t
Cuts to thermal coal production around the world have helped to stabilise spot prices between US$50 and US$60 per tonne since April but weak demand will limit the chances of a price recovery in the short term, according to National Australia Bank (NAB).
Mongolia unlikely to seal $4 bln coal mine deal – minister
A delayed $4 billion deal aimed at spurring development of Mongolia’s enormous Tavan Tolgoi coal mine has only a slim chance of going ahead, partly due to China’s slowing growth, one of the country’s chief negotiators said on Thursday.
First Steel, Now Copper: Rio Stays Optimistic on Chinese Growth
Rio Tinto Group isn’t just bullish about China’s steel demand, it’s also upbeat about copper use in the world’s biggest consumer.
Copper price rallies 6%
In New York trade on Friday copper for delivery in December soared nearly 6% at the open, jumping to a seven-week high following the announcement of steep production cuts by Glencore and a surge in Chinese concentrate imports.