World Mining News

AKIPRESS.COM – At the regular meeting of the Mongolian Cabinet on March 2, Minister of Energy N.Tavinbekh presented the progress of the Erdeneburen hydropower plant project, which is being implemented as part of the ‘New Revival Policy’, Montsame reports. The Ministry of Energy signed a turnkey contract with the project’s contractor last September to ensure the timely construction of the Erdeneburen …

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 …

“From where I sit, the opportunity in front of us is huge,” BHP’s (NYSE: BHP; LSE: BHP; ASX: BHP) chief technical officer Laura Tyler told the PDAC’s virtual convention. “I see great prosperity as we collaborate to discover the commodities of the future … faster, more efficiently, and more sustainably than ever before.”Speaking from Adelaide in Australia, Tyler noted that …

The London Court of International Arbitration (LCIA) has recently rendered a final award in favour of Canadian uranium miner Denison Mines (TSX: DML) for the previously disclosed arbitration proceedings between the company and Czech-based firm Uranium Industry (UI). In November 2015, Denison completed the sale of its mining assets and operations located in Mongolia to UI pursuant to an amended and restated share purchase. The primary …

Canada’s Turquoise Hill Resources (TSX, NYSE: TRQ) is taking Rio Tinto (ASX, LON, NYSE: RIO) to arbitration over the mining giant’s role and obligations to support the company in securing additional funding for the vast Oyu Tolgoi copper-gold-silver mine in Mongolia. Turquoise Hill said a special committee of its board, which approved the arbitration, concluded that Rio’s approach to the financing of …

Government seeks review into expansion project that is late and billions of dollars over-budget Rio Tinto is facing further pressure in Mongolia, where the government is seeking an independent review into delays and huge cost blowouts in the underground expansion of one of the mining group’s most important projects. Ulaanbaatar wants the joint venture that owns Oyu Tolgoi, a vast …

(MENAFN)Mongolia and the World Bank have struck two deals having a value of USD21 million in order to lessen the effects of coronavirus on the economy, according to Mongolian Finance Minister Chimed Khurelbaatar on Monday.Khurelbaatar and Andrei Mikhnev, World Bank country manager for Mongolia, have signed the deals on Monday.USD20 million out of the total amount are a soft loan …

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 …