Эх сурвалж: www.steelguru.com
Erdenes TT seeks to repay Chalco amid low coal prices
Erdenes Tavan Tolgoi, Mongolia’s largest state-owned coal miner, has trimmed its debt to a Chinese customer to USD 130 million from USD 350 million, and aims to pay the remaining amount due this year.
BelAZ dump trucks put into use at coal minefield in Gobi
BelAZ dump trucks with the lifting capacity of 110 tonne have been put into operation at the coal minefield Tavan Tolgoi in the Gobi desert in Mongolia.
EBRD backing for nearby mine is big boost – Kincora Copper
Kincora Copper’s Bronze Fox copper project in Mongolia has been boosted by the European Bank for Reconstruction and Development’s backing for a nearby project.
Mongolia lawmakers urge talks to rework Oyu Tolgoi deal
Reuters reported that an influential group of Mongolian backbench lawmakers has urged Prime Minister Norov Altanhuyag to seek talks to trim mining giant Rio Tinto’s stake in the USD 13 billion Oyu Tolgoi copper and gold project in the country’s South Gobi region.
SouthGobi files dispute against government
SouthGobi Resources Mongolian subsidiary SouthGobi Sands has launched an investment dispute against the Mongolian government, citing the Mineral Resources Authority failed to execute its pre-mining agreements covering the Zag Suuj and Soumber coal deposits.
Sojitz aims to triple Mongolian coal sales to China
Reuters reported that Sojitz Corp aims to more than triple Mongolian coal sales to China within three years as it seeks to handle 10% of the country’s growing sales of the mineral to the world’s top consumer.
Mongolia has USD 1.3 trillion untapped mineral deposits
Hailed as one of the last frontiers for resources exploration, the central Asian country of Mongolia is thought to have USD 1.3 trillion in untapped mineral deposits, including coal, copper, iron ore, zinc and gold, beneath its vast deserts and steppes.
Mongolia leads coking coal exports to China in 2011
Mongolia has overtaken Australia to become China’s largest coking coal supplier in 2011 due to rapid ramp up of its coal production and competitive coal export prices.
Xanadu turns to coking coal copper and gold in Mongolia
The horde of miners looking to cash in on Mongolia’s vast mineral wealth and close proximity to China has just got bigger.
Ivanhoe Mines scraps shareholder rights plan paves way for Rio Tinto
Ivanhoe Mines said that it will scrap its shareholder rights plan, clearing the way for its single largest shareholder, Rio Tinto to take over what could be one of the world’s largest copper-gold mines.
Kincora Copper announces LOI to acquire New Mongolian Property
Kincora Copper Limited announced that it has entered into a letter of intent with Forbes & Manhattan Inc a Canadian merchant bank and Temujin Mining Corp a closely held private company, whereby the Company would acquire from Temujin all of the issued and outstanding shares of Golden Grouse LLC a Mongolian company which holds certain [...]
FeOre aims for first rail haulage of Mongolian iron ore within two years
FeOre, a Mongolia focused iron ore explorer, has been admitted to the ASX following a successful initial public offer of up to AUD 140 million shares at AUD 0.25 to raise up to AUD 35 million.
Russian billionaire to build USD 1 billion railroad to coal field
Bloomberg reported that Billionaire Mr Ziyavudin Magomedov Summa Group won the right to build a RUB 44.3 billion section of a railroad to coal fields in East Siberia near deposits to be developed by Evraz Plc and OAO Severstal.
Kincora Copper has high hopes for Mongolian deposit
Kincora Copper’s flagship asset is the Bronze Fox deposit in Mongolia which is in the same geological neighborhood as the giant Oyu Tolgoi mine just over 100 miles to the North East.
China eyes bigger role in iron ore pricing and hedging
China plans to launch an iron ore swaps business and a physical iron ore trading platform are a clear sign of its desire to take on a bigger role in pricing its biggest import commodity and protect itself against increasing volatility. A 31% slump in prices of the steelmaking raw material in October forced miners [...]
Haranga Resources hikes stake in Selenge Iron Ore Project to 80pct
Haranga Resources Limited announced that the company has acquired a further 20% interest in the joint venture company that holds the five exploration licenses comprising the Selenge Iron Ore Project.
Mongolia overtakes Australia as China largest coking coal supplier
According to Mr Huang Jingan, President of the China Coking Coal Industry Association at a summit forum about the country coking coal supply and demand situation held in Xinjiang on October 22 that Mongolia has replaced Australia to be China’s largest coking coal supplier.
Mongolia giant coal mine to start production on Dec 1
Bloomberg reported that Mongolia will start producing coal from the eastern blocks of the giant Tavan Tolgoi coal deposit in the Gobi desert on December 1 Mr Wolfgang Peters chairman of Germany BBM Operta Group which was awarded the contract to develop the eastern Tsankhi block of Tavan Tolgoi with Australia’s Macmahon Holdings in August [...]
Mongolia recognizes SouthGobi Resources COO
SouthGobi Resources Ltd announced that Mongolia has awarded Curt Church, COO the award of Altan Gadas in recognition of his contribution to developing the mining sector in Mongolia and bilateral cooperation between Mongolia and Canada in the field of mining.”
Chinese copper demand to surge by 40pct by 2015
Reuters quoted an official from the China NonFerrous Metals Industry Association as saying that China’s apparent consumption of refined copper will rise by nearly 40% to 8.5 million tonnes per year by 2015. Mr Zhao Bo director of the association’s copper department said that “Despite the prospect of a slowdown for major economies around the [...]
Rio Tinto forecasts surge in world demand for refined copper
The Australian reported that global demand for refined copper is forecast to rise by more than 40% to 27 million tonnes by 2020 and the massive Mongolian gold and copper Oyu Tolgoi project is strategically positioned to capitalize on that increase as it grows to become a top five global copper producer. Mr Cameron McRae [...]
Race for resources – VP hails US growing ties on coal resource with Mongolia
AFP reported that US Vice President Mr Joe Biden has hailed the United States’ growing ties with Mongolia on a rare visit by an American leader to the Asian nation, which is opening up its vast coal reserves to foreign investors. He met Mongolia’s President Mr Tsakhia Elbegdorj in a ceremonial traditional tent, set up [...]
TVN Corporation shares soar on Mongolian coal results
TVN Corporation shares have soared on the back of the full coal drilling results from the Nuurst Thermal Coal Project in Mongolia. The coal seam development has now been extended to over 1.6 kilometres, with a third significant 102.6 meter coal sequence intercepted. The cumulative down hole coal seam thickness is 81.4 metres thick.
Lucky Strike Resources to acquire 80pct of 6 Mongolian coal licenses
Canadian based exploration stage company Lucky Strike Resources reported that it has signed definitive agreements with five private Mongolian companies to acquire an 80% stake in six mining exploration licenses and coal properties.
China to cut copper and aluminum capacity in 2011
Reuters reported that China will close down 291,000 tonnes of outdated copper smelting capacity this year as part of a wider crackdown on 18 heavy and polluting industries. The country’s industry ministry said that the Ministry of Industry and Information Technology will also close 600,000 tonnes of outdated aluminum smelting capacity by the end of [...]
MUI Corp targets China market with option to acquire Mongolia Coal license
MUI Corporation has explained the company’s decision to option the Inner Mongolia Coal Project license as an opportunity to acquire a project licence located in the Bayanhue formation, in a proven coal, oil and gas basin. MUI was previously involved in the industrial sector. In March, MUI completed a placement to raise AUD 2,500,000 through [...]
C Limited to acquire Mongolian coking and thermal coal assets
C @ Limited has signed an agreement with an international coal developer that has a significant position in the coking and thermal coal industry in Mongolia. The agreement provides C @ Limited with an option to acquire 8 highly prospective coal exploration licenses in the South Gobi, near the Chinese border, with access to existing [...]
Mongolia targets global mining role as investments soar
BBC reported that for centuries the Gobi Desert has been regarded as a place to avoid. Its harsh landscape of barren plains, freezing winters and scorching summers has kept human habitation to small number of nomadic camel breeders eking out a solitary existence. But with the recent discoveries of copper, gold and coal, the era [...]