Prophecy inks coal supply deal

Prophecy Coal, which mines the fuel in Mongolia, on Thursday said it signed a contract to supply 22 100 t to a local direct reduced iron plant, with the possibility to increase this to 300 000 t/y. The TSX-listed company said the agreement set a...

Ivanhoe to launch $1.8bn rights offering

TSX-listed Ivanhoe Mines, which is majority owned by Rio Tinto, said on Wednesday it would launch a rights offering to raise about $1.8-billion. The rights offering to existing shareholders formed part of a funding agreement to enable Ivanhoe to...

Mongolia iron-ore miner in $300m Hong Kong IPO – source

Mongolian iron-ore miner Altain Khuder plans to raise about $300-million through a Hong Kong initial public offering (IPO), a source with knowledge of the matter told Reuters, underscoring a push by mining companies from the resource-rich country...

Mongolia passes watered-down foreign investment law

Mongolia's Parliament passed a controversial law aimed at capping foreign ownership in "strategic" industries like mining on Thursday, but investors expressed relief that the legislation was weaker than first anticipated. The bill has been...

What's in a name? Rio Tinto gives Ivanhoe the blues

If ever there was any doubt about what Rio Tinto was really after in its pursuit of Canadian miner Ivanhoe Mines, the answer just became crystal clear. Ivanhoe Mines said on Wednesday it will ask shareholders in June to approve a new name for the...

Ivanhoe Australia says up to 8 bidders eyeing mine stakes

Gold and copper miner Ivanhoe Australia Ltd has received interest from up to eight bidders for stakes in its projects and may in the process end up with a new controlling stakeholder, said CEO Peter Reeve. Ivanhoe Australia, with a market value...

SouthGobi posts profit, says Mongolia mines open

SouthGobi Resources, a coal miner with operations in Mongolia, reported a first-quarter profit on Monday, as its sales nearly doubled and its average selling price rose. The Toronto-listed miner said its coal mines in Mongolia were still...

SouthGobi says Mongolian mining operations continue

SouthGobi Resources said on Monday its coal mining operations in Mongolia continued despite a recent government announcement about a planned suspension of its mining licenses. After China's state-owned Chalco said in April it planned to acquire a...

Ivanhoe appoints new chairperson, reappoints director

TSX-listed Ivanhoe Mines on Friday appointed Dr David Klingner as new chairperson of the board following Rio Tinto’s taking control of the board.

Impairment on US asset sale widens Denison's Q1 loss

Denison Mines, the Toronto-based uranium producer, on Wednesday reported a widened $52-million loss for the first quarter, after the company took a $44-million impairment related to the sale of its US assets to Toronto-listed Energy Fuels,...

Xanadu buys new copper/gold project in Mongolia

ASX-listed Xanadu Mines has reached an agreement with private Canadian miner Temujin Mining Corporation to acquire the Oyut Ulaan copper/gold project, in Mongolia. Upon completing a due diligence, Xanadu would negotiate a definitive agreement...

Company Announcement: Proposal To Acquire Oyut Ulaan Copper/Gold Project In Mongolia

Xanadu Mines Ltd has executed a terms sheet with Temujin Mining Corp, a private Canadian company, to acquire the prospective Oyut Ulaan copper and gold Project in the South Gobi region of Mongolia via a purchase of Temujin’s wholly owned...