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Thermal coal prices hit 6-year high
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 exec jailed for corruption in China let free
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 price rallies to highest since January 2014
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 says investors to take stance on Oyu Tolgoi as ‘test case’
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.
Rio Tinto says climbing costs, resource nationalism once again big threats
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.
Mongolian Copper Corp considers international fight for Erdenet mine
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.
Copper price bears are out as first surplus in six years predicted
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 to build power plant at Oyu Tolgoi copper-gold mine in Mongolia
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.
Apple in talks to buy cobalt directly from miners
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.
Copper falls most in six weeks as metals rally starts to give
After a robust rally, metals prices are starting to pull back.
Copper rallies to three-year high as China plant halts output
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.
Massive Oyu Tolgoi mine to more than double gold production in 2018
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%.
Scientists produce high-grade rare earths from coal
Scientists from the University of Kentucky have produced nearly-pure rare earth concentrates from coal, using an environmentally-conscious and cost-effective process.
In bizarre twist, coal may become a scarce commodity: Russell
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.
Xi’s China a boon for mining
Most analysis of the 19th National Congress of the Communist Party of China has focused on how President Xi Jinping is consolidating his already considerable power acquired through a purge of opponents in a corruption crackdown that shows no sign of slowing down.
Copper price: Rio slashes production guidance
On Monday, the copper price surged to $3.25 a pound or $7,165 a tonne, its highest level in more than three-and-half years over optimism about the strength of the economy of top consumer China and worries about global supply.
Chinese companies to build 700 coal plants in and outside China
Coal is dead. Coal mining is a sunset industry. Donald Trump is crazy if he thinks he can revive Big Coal. While all these statements have become part of global consciousness when it comes to the future of the much-maligned fossil fuel, a report by Urgewald, a Berlin-based environmental group, casts doubt on at least [...]
Miner Kincora secures EBRD help to explore Mongolia
Canadian-listed miner Kincora Copper on Friday said the European Bank for Reconstruction and Development would acquire a 6.16 percent stake in the company for 1.4 million Canadian dollars ($1.1 million) to further its exploration in Mongolia.
Copper price powers on but doubts are starting to creep in
December copper futures trading on the Comex market in New York powered ahead on Monday after hedge funds pushed bullish bets on the metal to fresh record highs. Copper touched a high of $3.1095 a pound ($6,855 per tonne) up more than 1% from Friday’s closing price and the highest since October 2014. Copper is [...]
Copper price surges to 32-month high as hedge funds place $20 billion bet
Copper futures trading on the Comex market in New York raced ahead on Wednesday as global supply disruptions came back into view and large-scale speculators place huge bets on rising prices.
North Korea ban lifts coking coal price
The price of coking coal jumped on Friday with the industry benchmark price tracked by the Steel Index up 2.8% to $167.60 a tonne. Premium hard coking coal prices (FOB Australia) are now at the highest level since mid-May.
Copper price jumps on Chinese imports surprise
In February copper hit a 21-month high on the back of optimism that Donald Trump’s $500 billion-plus infrastructure plan would add fuel to the fire of Chinese economic stimulus already working its way through commodity markets.
Commodity prices slump to 50-year low against US stocks
The Dow Jones, S&P 500 and Nasdaq closed at record highs on Friday despite signs that US jobs growth is slowing down and that expansion of the world’s largest economy remains stuck around the 1% level.