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The world's biggest miners want more copper but nobody's selling

By: Bloomberg     17th July 2018 It’s the mining world’s biggest dilemma: everyone’s hunting for copper deals, but even the richest producers just can’t pull the trigger. The largest miners all say they’re bullish on copper and looking for growth in the metal that’s forecast to be in ever-greater demand as cities expand and... 

Rio Tinto ready to splash out on copper

By: Reuters     29th June 2018 Rio Tinto wants copper badly, and it's ready to pay top-dollar. The global miner would be willing to fork out a large premium over market value to secure a prime asset as it tries to reduce its reliance on iron ore, company and banking sources told Reuters. 

Casting methodology ensures high-quality sheave wheels

By: Paige Müller     22nd June 2018 Mining sheave wheels fabricated using the casting methodology are stronger than their welded counterparts, extending the life span of mining shafts and allowing that sheave wheels be custom-made to suit specific design and application conditions, states foundry and casting specialist KEW... 

Canada’s Erdene is Mongolia exchange’s first cross-listed firm

By: Creamer Media Reporter      14th June 2018 TSX-listed Erdene Resource Development has launched a secondary listing of its common shares on the Mongolian Stock Exchange (MSE), becoming the first cross-listed, and only precious metals exploration company listed on the MSE. Erdene, which has interests in four exploration licences and a... 

Entrée Resources sells Cañariaco royalty

By: Nadine James     8th June 2018 TSX- and NYSE-listed Entrée Resources has sold its 0.5% net smelter return royalty on Candente Copper’s Cañariaco copper project, in northern Peru, to TSX- and LSE-listed natural resources royalty and streaming company Anglo Pacific Group. Under the terms of the agreement with Anglo Pacific,... 

China remains dominant coal consumer, producer

By: Natasha Odendaal     1st June 2018 China, India and the US will remain the largest consumers of thermal coal, while China, India and Russia will remain the largest consumers of coking coal during the period to 2027, a new report by BMI Research shows. In its ‘Industry trend analysis: global forecast to 2027’ report, BMI forecasts... 

Currency movements to deliver mixed results for African countries

By: Natasha Odendaal     1st June 2018 The forecast currency movements over the next decade is likely to deliver mixed impacts for African mining operations, with South Africa’s currency expected to depreciate against the dollar over a ten-year horizon. BMI Research’s latest report, ‘Currency movements to 2027: Winners and losers in... 

Chile's Pinera taps businessman Benavides as Codelco chair

By: Reuters     25th May 2018 Chilean President Sebastian Pinera named Juan Benavides, a former CEO of Chile retail leader Falabella, as chairperson of the board of directors at Codelco, the world's top copper producer, the government said on Friday. Benavides was currently serving as chairman at Chilean private pension fund... 

Only one-third of the 15 largest copper producers reported positive production trends – S&P Global

By: Henry Lazenby     25th May 2018 Only about one-third of the 15 largest copper producers with output of more than 40 000 t of copper per quarter reported positive production trends during the first quarter of this year, driving quarter-on-quarter output 4.8% or 136 548 t lower, a new report by S&P Global has found. However, on... 

Rising resource nationalism seen as 'fire burning' for miners

By: Bloomberg     17th May 2018 A rising tide of resource nationalism is causing miners to rethink where they invest and creating volatility for a sector already buffeted by brewing trade wars. “A significant industry issue is resource nationalism,” Rio Tinto Group CEO Jean-Sebastien Jacques told investors at a conference in... 

Pre-construction work gets under way at Nevada Copper’s promising Pumpkin Hollow

By: Henry Lazenby     11th May 2018 The proponent of what will probably be North America’s next new copper mine development, Nevada Copper, has signed a pre-works agreement with Cementation USA and secured key long-lead time items, further derisking the restart of construction of the company's fully permitted and shovel-ready... 

Turquoise Hill wants more say in Oyu Tolgoi management

By: Esmarie Swanepoel     4th May 2018 TSX-listed Turquoise Hill Resources is expected to increase its direct participation in the management of the Oyu Tolgoi mine, in Mongolia. The company’s board of directors told shareholders this week that it had reviewed its involvement in the copper and gold project, after shareholder... 

Companies reach shaft sinking milestones

20th April 2018 Multinational mining company Turquoise Hill Resources’ Oyu Tolgoi copper/gold mine in Mongolia, has achieved significant underground development milestones with the completed sinking of two shafts this year. The Oyu Tolgoi, one of the world’s largest new copper/gold mines, is located in the South... 

Rio Tinto lifts iron, bauxite and copper output, warns sanctions could impact aluminium

By: Esmarie Swanepoel     18th April 2018 Diversified giant Rio Tinto has reported production increases at its iron-ore, bauxite and copper divisions, while warning shareholders that US sanctions against Russian companies could impact aluminium production in 2018. “We delivered a solid operational performance across most commodities in... 

Rio Tinto’s Thompson deals with misconduct allegations at AGM

By: Esmarie Swanepoel     12th April 2018 Mining major Rio Tinto has again denied allegations of withholding information from shareholders regarding its Mozambican coal assets, with chairperson Simon Thompson saying that the company would “vigorously” defend itself against these allegations. The UK’s Financial Conduct Authority (FCA)... 

Miners urge new Chile government to give exploration a boost

By: Reuters     12th April 2018 Copper mining industry leaders meeting in Santiago this week called on Chile's month-old government to open up exploration or risk losing investment as companies hunt elsewhere for new projects. Chile produces around a third of the world's copper, making it by far the biggest exporter of the... 

Rio Tinto discloses details of the $5.1bn tax payments

By: Anine Kilian     9th April 2018 Diversified miner Rio Tinto on Tuesday revealed that its tax payments and royalties paid had increased from $4-billion in 2016, to more than $5.1-billion in 2017, with the majority of taxes paid in Australia. In its latest voluntary taxes paid report, published on Tuesday, Rio Tinto detailed that... 

Rio sees $5bn copper expansion on track amid Swiss probe

By: Bloomberg     26th March 2018 Rio Tinto Group has yet to be contacted by Swiss authorities over a bribery investigation related to Mongolia’s giant Oyu Tolgoi copper and gold mine and the site’s $5.3-billion expansion remains on track, according to the producer’s top executive. The attorney general of Switzerland is... 

Aspire halts drilling at Nuurstei, reviews rail feasibiity

By: Esmarie Swanepoel     22nd March 2018 Coal developer Aspire Mining has temporarily halted the drilling programme at its Nuurstei coking coal project, in Mongolia, as it holds additional discussions with the nearby communities. Aspire holds a mining lease for its Nuurstei coking coal project, which gives the company a 30-year tenure... 

Global copper deficit widens 21% in 2017 as refined supplies stagnate

By: Henry Lazenby     21st March 2018 The latest data from the Lisbon, Portugal-based International Copper Study Group (ICSG) points to a 21% year-on-year widening in the global deficit of refined copper, as refined supplies remain stagnant. During 2017, the global refined copper balance slid to a deficit of 163 000 t of red metal,... 

Oyu Tolgoi completes sinking Shaft 5

By: Henry Lazenby     21st March 2018 Mongolia’s massive Oyu Tolgoi copper/gold mine has achieved its latest important milestone after sinking of the new Shaft 5 has been completed. The shaft has a final depth of 1 178 m. 

As copper booms, miners take hunt to Mongolian dunes

By: Reuters     13th March 2018 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant... 

Mongolian court sides with government in copper mine ownership row

By: Reuters     1st March 2018 Mongolia's Constitutional Court ruled on Wednesday that Mongolian Copper Corporation (MCC) never had the right to 49 percent of one of Asia's biggest copper mines, supporting an earlier resolution by the government to buy back the stake. The ownership battle is set against the backdrop of miners... 

Himoinsa solutions provide light, power to Southern African mines

23rd February 2018 Designer and manufacturer of diesel and gas generator sets, hybrid generators, lighting towers and control panels Himoinsa Southern Africa is delivering solutions to power mines across Southern Africa, emphasising that its generators and lighting towers are robust and durable enough to provide... 

World refined copper deficit widens to 195 000 t – ICSG

By: Henry Lazenby     21st February 2018 The global refined copper balance for the first eleven months of 2017 indicates a deficit of about 195 000 t, some 27% wider than at the same time a year earlier, the latest data from the Lisbon-based International Copper Study Group (ICSG) shows. The think tank attributed the widening deficit to... 

Mongolia says can build power plant to supply Oyu Tolgoi mine

By: Reuters     20th February 2018 Mongolia can build a power plant at its Tavan Tolgoi coal mine by 2021 to supply the Oyu Tolgoi copper project, energy officials said on Tuesday, as the government seeks to hold Rio Tinto to an agreement to use Mongolian power. Tensions have mounted between the Mongolian government and its... 

Rio Tinto considering power options for Oyu Tolgoi

By: Mariaan Webb     16th February 2018 Global miner Rio Tinto is considering its options for domestic power generation for the Oyu Tolgoi mine, including building an on-site power station, the company said on Friday, as it confirmed that the government of Mongolia had terminated a framework agreement for an energy plan for the South... 

Chaarat appoints new COO

By: Creamer Media Reporter      14th February 2018 Aim-quoted Chaarat Gold has appointed Peter Carter as COO. The company, which is developing the Chaarat project in Kyrgyz Republic, said on Wednesday that Carter had more than 30 years' experience in openpit engineering, mine management and project development.  

Mongolia's January coal exports drop nearly 25% from last year

By: Reuters     14th February 2018 Mongolia's coal exports dropped by nearly a quarter in January from a year earlier, with deliveries disrupted by ongoing congestion at the border with key trading partner China. The fall was part of a 6.3% year-on-year decline in overall mineral exports, according to data published by Mongolia's... 

Resource-rich Mongolia rejects cap on foreign workers for 2018

By: Reuters     13th February 2018 Mongolia will not put a cap on immigration in 2018, authorities said on Tuesday, after lawmakers rejected new policy proposals that set to put tough restrictions on the numbers of foreign workers in the remote north Asian nation. Some members of Mongolia's Parliament sought to limit the number... 

Rio Tinto returns $9.7bn to shareholders in 2017

By: Natasha Odendaal     7th February 2018 Mining major Rio Tinto has delivered record full-year ordinary dividends of $5.2-billion, equating to 290c a share, and bringing total cash returns to shareholders for the year ended December 31, 2017, to $9.7-billion. The company posted an operating cash flow of $13.9-billion, underlying... 

Mining essential to human progress – Rio Tinto

By: Martin Creamer     5th February 2018 The images of large yellow mine trucks flashed across the big screen at this year’s Mining Indaba looked pretty ordinary. But that misperception was quickly cut short when Rio Tinto CE Energy and Minerals Bold Baatar told the full-house audience: "What you're watching are robots on wheels.... 

Rio Tinto accused of $700m tax dodge on Mongolian mine

By: Bloomberg     31st January 2018 Rio Tinto Group has been accused by a Dutch non-profit group of avoiding about $700-million in taxes related to its Oyu Tolgoi copper mine in Mongolia. The company denied the allegations. Rio and its Canadian subsidiary Turquoise Hill Resources used so-called mailbox companies in Luxembourg and... 

Virtual Reality Training, WorksiteVR Quest: A Leap Forward in Personnel Induction at Rio Tinto’s Oyu Tolgoi Mine.

25th January 2018 Immersive Technologies developed a series of WorksiteVR Quest www.immersivetechnologies.com virtual reality scenarios designed to facilitate a blended learning model in conjunction with eLearning and practical activities. Mine site inductions are necessary however often dry, boring, and... 

China's 2017 coal imports from Russia surge after N Korea ban – customs

By: Reuters     25th January 2018 China's coal imports from Russia and Mongolia soared in 2017, customs data showed on Thursday, as the two countries filled a supply gap caused by a series of trade sanctions on North Korea. Arrivals from Russia surged 36.3% from 2016 to 25.3 million tonnes, data from the General Administration... 

Oyu Tolgoi reaches milestone with shaft completion, maintains force majeure

By: Mia Breytenbach     23rd January 2018 Rio Tinto subsidiary Turquoise Hill said that Oyu Tolgoi, a copper and gold mine in the southern Gobi desert, in Mongolia, has marked an early development milestone at the Hugo North Lift 1, with the completion of the sinking of Shaft 2, including reaching final depth, shaft bottom mass... 

Copper production declined in first ten months of 2017 – ICSG

By: Schalk Burger     23rd January 2018 Worldwide copper mine production declined 2.6% in the ten months to October 2017, while concentrate production declined by 2.2% and production through solvent extraction-electrowinning declined by 4.3% in the same period, according to the intergovernmental copper body The International Copper... 

Rio Tinto strengthens presence in Mongolia with new exploration office

By: Creamer Media Reporter      22nd January 2018 Global mining major Rio Tinto will open a new office in “strategically important” Mongolia to strengthen its presence in a country in which it had already invested $7-billion in the last eight years. The office in Ulaanbaatar will be separate from Oyu Tolgoi – the large copper and gold mine that... 

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