Coal – Bloomberg reported that this year, Erdenes Tavan Tolgoi LLC will start mining the West Tsankhi coal area, located in Mongolia, in order to get out of debt and pay off Aluminum Corporation of China Ltd. (NYSE:ACH).
Articles Tagged "Mongolia"
Gold – Gold companies enjoyed a lift from gold price gains on Wednesday, although some of that was given up Thursday with the release of positive US employment data.
Coal – The US is pushing to block coal exports as Japan and India compete for supply.
Copper – MINING.com reported that the United States' refusal to vote on World Bank funding aimed at expanding Rio Tinto's (ASX:RIO,LSE:RIO,NYSE:RIO) Oyu Tolgoi copper-gold mine has thrown a wrench in the company's plans as it has created pressure for the company to substantially change the project. Among other things, the US is reportedly concerned that the project's Environmental and Social Assessment "has gaps in critically important information."
An overview of fluorspar's uses and types and a look at why getting involved in the fluorspar market could be a good choice.
Copper – Mongolia may have $2 trillion in untapped natural resources, and as only 1 percent of its land has been licensed for mining, it is an exciting exploration prospect. But the government’s flip-flopping on its investment agreement regarding Rio Tinto's massive Oyu Tolgoi copper mine, along with challenges associated with infrastructure and exports, could deter investors.
Iron – Ferro Iron Ore Corp. (TSXV:RRO) announced a merger agreement with Continent Treasure Limited to obtain a 77.5% interest in a Mongolian exploration license.
Coal – Reuters reported that Enebish Baasangombo, CEO of Erdenes Tavan Tolgoi LLC, has resigned for personal reasons. Hopes are high that Batsuur Yaichil, the new CEO, may speed up the launch of the long-delayed Tavan Tolgoi coal project.
Uranium – Barakah One, a nuclear power company based in the United Arab Emirates, recently received a $2 billion loan that will allow it to construct the country's first nuclear power plant. The nuclear situation in Iran is less rosy.
Coal – Chinese state-controlled aluminum miner Chalco has dropped a $926 million bid for up to 60 percent of SouthGobi Resources. The stake is owned by Canadian company Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ), developer of the massive Oyu Tolgoi copper-gold complex in Mongolia and formerly Ivanhoe Mines.