China News

ULAN BATOR, Jan. 25 (Xinhua) — The Mongolian government and Anglo-Australian mining giant Rio Tinto have settled a long-running dispute over underground expansion for the Oyu Tolgoi copper-gold mining project, allowing the mine’s underground mining construction to commence, the Mongolian government’s press office said Tuesday. “I believe that the commencement of the Oyu Tolgoi underground mining construction demonstrates to the …

Rio Tinto, a Toronto listed mining group, is once again going ahead with its most important growth project, the Oyu Tolgoi copper mine in Mongolia. The project began after the company reached an agreement with the government of Mongolia, and solved key issues hindering the $7 billion expansion of the project. On Jan. 25, an underground caving process was launched, which …

ULAN BATOR, Sept. 8 (Xinhua) — Mining operations have damaged at least 18,366 hectares of land across Mongolia as of 2020, the country’s Environment and Tourism Ministry said Tuesday. “Mongolian government’s action plan (2020-2024) includes 10 key green development activities. One of them is the rehabilitation of areas damaged by mining activities,” the ministry said in a statement. It is …

Gold’s monster rally took a pause on Friday as the US dollar received some respite from investors looking for a hedge against the deepening rift between Washington and Beijing. But bullion is still on track for a ninth straight weekly gain — the longest streak in about a decade. Spot gold was 1.2% lower at $2,035.26 per ounce by 11:25 …

Mongolia has cancelled an executive order to fund its giant Tavan Tolgoi coal project through an international initial public offering (IPO), citing “political distortions” and the current dire state of global financial markets. Erdenes Tavan Tolgoi (ETT), the state-owned company that holds the license to the deposit, had been working with an adviser for preparations of the planned IPO, which included a listing in the …

Work at the Oyu Tolgoi copper-gold mine in Mongolia has slowed because of government curbs to curtail the spread of a coronavirus, Rio Tinto Ltd said on Monday. Since confirming its first infection last week, Mongolia has tightened stringent border and travel checks adopted since January to keep out the virus, which has now infected more than 156,000 people globally. …

Mongolia has resumed coal exports to China via the boarder point of Gashuun Sukhait, Chinese state media agency Xinhua reported on Tuesday, citing Mongolian finance minister. Ulaanbaatar had suspended coal exports to China in February in order to prevent the spread of the coronavirus. Mongolia expects to fully recover deliveries of coal to China soon, according to the Xinhua report. …

Corruption probe linked to a former Mongolian finance minister who helped clear the way for a disputed Rio Tinto mining project. ZURICH- Switzerland’s highest court has upheld the seizure of $1.85 million in Swiss bank accounts, part of a corruption probe linked to a former Mongolian finance minister who helped clear the way for a disputed Rio Tinto RIO.L mining …

BEIJING – Mongolia has resumed coal exports to China via the boarder point of Gashuun Sukhait, Chinese state media agency Xinhua reported on Tuesday, citing Mongolian finance minister. Ulaanbaatar had suspended coal exports to China in February in order to prevent the spread of the coronavirus. Mongolia expects to fully recover deliveries of coal to China soon, according to the …

Global pandemic is the latest challenge to Rio Tinto’s troubled Mongolian copper project, with the miner warning that progress had been slowed by efforts to restrict the spread of the coronavirus. Rio said work on the multibillion-dollar underground expansion of the Oyu Tolgoi mine was continuing, but slowly, and the miner did not rule out further delays beyond the schedule …