World Mining News

Rio Tinto’s Turquoise Hill Declares Force Majeure At Mongolian Mine

LONDON (Alliance News) – Canadian-listed Turquoise Hill, 51% owned by miner Rio Tinto PLC, on Wednesday said it had declared a force majeure at the Oyu Tolgoi mine in Mongolia in relation to a protest by Chinese coal transporters. Turquoise Hill said the protesters last week used a “large number” of vehicles to obstruct the main access road within China …

Read More »

Rio Tinto halts shipments from Mongolia mine after tax, border disputes

Mining giant Rio Tinto has halted shipments of copper concentrate from its giant Oyu Tolgoi copper mine following a week-long dispute at the border crossing to China and a new tax bill from the Mongolian government. A dispute between Chinese trucking companies and Mongolian officials over health insurance for drivers has halted coal and copper transport at the remote Gants …

Read More »

Hillcrest Asset Management Decreased Winnebago Industries (WGO) Holding; MONGOLIAN MINING CORPORATION ORD CAYMAN (MOGLQ) SI Decreased By 97.53%

MONGOLIAN MINING CORPORATION ORD CAYMAN (OTCMKTS:MOGLQ) had a decrease of 97.53% in short interest. MOGLQ’s SI was 2,500 shares in January as released by FINRA. Its down 97.53% from 101,400 shares previously. It closed at $0.0326 lastly. It is down 0.00% since January 12, 2017 and is . It has underperformed by 16.70% the S&P500. Hillcrest Asset Management Llc decreased Winnebago …

Read More »

Peabody Energy back to the NYSE as emerges from bankruptcy

US coal miner Peabody Energy (NYSE:BTU), the world’s largest privately owned producer of the fossil fuel, made a fresh debut on the New York Stock Exchange on Tuesday after emerging from an almost to the date year-long bankruptcy protection. Shares in the St. Louis-based company began trading at $31.50, but were already down 5.65% to $29.25 at 11:43AM ET, still …

Read More »

INTERACTIVE MAP: World’s top 10 gold deposits

To give a true picture of the size and potential of the globe’s largest deposits of gold, MINING.com and sister company IntelligenceMine ranked the orebodies according to total resources – measured, indicated and inferred. Many companies include proven and probable reserves that can be economically extracted in resource estimates and the ranking was adjusted where this wasn’t the case. Overall resources …

Read More »

Mongolia paves the way for IMF bailout

Feb 10 Mongolia’s parliament moved towards meeting the conditions of an International Monetary Fund (IMF) bailout of $3-5 billion on Friday, as lawmakers voted to grant greater independence to the Development Bank of Mongolia. The country is scrambling to avoid missing a $580 million sovereign-guaranteed debt repayment, issued by the Development Bank, due in March. The economy has been badly …

Read More »

Rio Tinto logs first annual gain since 2013 on iron ore rally

Rio Tinto (ASX, LON:RIO), the world’s second largest miner, delivered strong signs of a long-awaited turnaround in the industry by posting its first gain in annual profit since 2013. Higher iron ore prices boosted Rio’s profit 12% to $5.1 billion last year, a significant turnaround from 2015, when it posted its worst underlying earnings in 11 years.The company, which is …

Read More »

Southern Copper wants to shoot the lights out

Southern Copper Corp (NYSE:SCCO), the world’s fifth largest copper producer in terms of output, has plans to increase copper production by two-thirds in just six years thanks to a raft of projects coming on stream towards the latter part of the decade. Last year the company, controlled by diversified resource and infrastructure giant Grupo Mexico, produced 906,000 tonnes of the …

Read More »

New WA iron mine to start production in H1 2017

A new iron ore facility in Western Australia expects to start mining in early 2017. Final approval for the Iron Hill mine, being developed by Mount Gibson Iron Limited (ASX:MGX), came from the Western Australia environment minister. The state’s environmental protection agency (EPA) gave the project the green light in July. The new mine, located just 3 km from the company’s existing Extension …

Read More »

Caterpillar to present more than machines at MINExpo 2016

Caterpillar will support MINExpo 2016 with an exhibit showcasing machines, technology, expertise and practical knowledge that miners can apply to help address their cost, productivity and efficiency challenges in today’s mining environment. Though Cat® machines—for both surface and underground mining—will fill the view, the talk will focus on how Cat technology and know-how combines to help mining operations address and …

Read More »
Translate »