World Mining News

Government had talked of raising up to $3bn in Hong Kong stock sale ULAANBAATAR – Mongolia has shelved plans to sell up to $3 billion in shares of the country’s flagship coal mine on an international stock market, as officials say the funds are no longer needed. Officials had previously signaled plans to hold the long-planned initial public offering for …

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 …

Glencore’s Katanga Mining sent 350 workers to be repatriated this week after the copper and cobalt miner delayed the commissioning of an acid plant they were working on in Democratic Republic of Congo’s Lualaba province. Katanga Mining’s 75%-owned subsidiary Kamoto Copper Co (KCC) had sent the 350 Indian contractors from the mine site near Kolwezi to Lubumbashi, capital of Haut-Katanga …

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. …

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 …

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 …

Rio Tinto, operator of the giant Oyu Tolgoi copper-gold mine in Mongolia, said its copper concentrate shipments to China had slowed due to efforts by the authorities to contain the spread of the coronavirus. “We have advised customers that we are engaging with authorities who are working on re-establishing regular and safe border crossings,” a spokesman for the miner said …