Mine

Nippon Steel, Sumitomo Metal to expand Australia port Nippon Steel Corporation (“Nippon Steel”) and Sumitomo Metal Industries, Ltd. (“Sumitomo Metals”) have announced that they have decided to invest to expand capacity at Cape Lambert by 70 million tons per year, along with the replacement of existing port facilities (“Port Expansion”), which are jointly operated with Rio Tinto group (“Rio Tinto”) in the Pilbara region of Western Australia.

Anglo American to Cut Coking Coal Output - Executive Anglo American PLC plans to reduce coking coal output in the coming months as it reviews existing operations and projects in the face of weak prices and high costs, the miner’s coking coal chief said Wednesday as he warned industry-wide cuts will continue to deepen.

How depressing is Australia’s official 2013 iron ore and coking coal chart The commodities outlook of the Bureau of Resources and Energy Economics, the Australian government’s official forecaster, is not nearly as upbeat as many producers’ own predictions. In its latest quarterly overview BREE forecasts that in 2013, the average contract price for FOB Australia iron ore is set to decrease 20% to US$101 a tonne down from an expected average of $126 a tonne this year.

Proposal for controlling coal output may hardly turn into reality in China Fourteen of China’s largest coal groups, including China Shenhua, China coal energy and Shanxi coking coal Group, issued a joint statement on August 30th 2012, proposing that all of China’s coal miners appropriately control production in order to stabilize the domestic market against the lackluster demand. Insiders consider it unlikely for Chinese miners to control their production spontaneously given by the huge cost pressures involved.

Rio comes up tops in Transparency International report Mining giants Rio Tinto and BHP Billiton have come up tops in a recent report by anticorruption group Transparency International, placing second and third respectively out of 105 largest publicly traded companies, with Norway’s Statoil taking the highest ranking.

Candidates for strategically important deposits: Part II An appendix to the State Great Khural Decree No.27 of 2007 refers to 39 deposits which might qualify to be classified as strategically important deposits if they fulfil certain criteria. These are known as candidate deposits. Our July issue gave general information on 13 of them, and this month we cover another 13 deposits. We do not give comprehensive details, but mention present ownership of the mines and give an idea of how these are working at the moment.

MRA accepts Gutain Davaa gold resource for registration The Mineral Resources Authority has accepted for registration, after review and approval by a number of experts, the high grade gold resource at the Toordogiin Shil Prospect on the Gutain Davaa Project of Meritus Minerals Ltd. Under the Mongolian system, the resource is classified as a B+C Resource of 3.17415 tonnes of gold at an average grade of 5.73gAu/t. Because of the methodology, this is not compliant with NI 43-101 or JORC Code reporting standards.

Strategy on strategic mineral missing The term “strategically important” in reference to certain mineral deposits has long been used in the laws of both Russia and Mongolia but there is considerable ambiguity in people’s mind about its intention and application. Some find the demarcation unnecessary, while others go so far as saying it is offensive, but the apparent justification behind identifying some deposits as strategic is to facilitate

Sharyn Gol JSC Sharyn Gol JSC (MSE: SHG “Sharyn Gol”) is pleased to announce that the Ministry of Nature, Environment and Tourism has accepted its Environmental Impact Assessment Report for the planned new open pit mine at the Shaazgait thermal coal deposit (“Shaazgait”).

Elbegdorj wants TT partner chosen by year-end President Ts.Elbegdorj has set an end-of-year deadline to select companies to develop part of TavanTolgoi, seeking to resolve a year-long battle for the resource between groups from five nations. Peabody Energy Corp., OAO Russian Railways, and China’s Shenhua Group are among companies affected by stalled talks to develop the West Tsankhi area of the coal deposit. Elbegdorj has said resolving the impasse will be among the top priorities of the new government.

ETT IPO in MarchApril next year: B.Enebish

Company defends seafloor phosphate mining in Namibia The proposed seafloor phosphate mining project in Namibia will be undertaken in an environmentally responsible and sensitive manner. Technology is available to ensure minimal environmental interference and the phosphate mining planned will be even more sensitive to the environment than current diamond marine mining in the area, says Namibian Marine Phosphate project GM DavidWellbeloved, himself a yachting enthusiast and sea lover.

Ivanhoe Mines wants to be called Turquoise Hill Resources If ever there was any doubt about what Rio Tinto was really after in its pursuit of Canadian miner Ivanhoe Mines, the answer has now become clear. Ivanhoe Mines recently said it would ask shareholders in June to approve a new name for the company: Turquoise Hill Resources.

Mongolia: Caught between democratisation and Rio Tinto Mongolians have recently evoked the spirit of their founder, Genghis Khan, who built the Mongolian empire in 1206. Everywhere you go, he is omnipresent, and for good reason. Having had to face giants such as the Soviet Union and China in the last few hundred years, Mongolia is now embarking on a new journey and taking on one of the world’s mining giants, Rio Tinto.

ETT pushes back market debut to 2013 Q1 ErdenesTavanTolgoi, owner of one of the largest coking coal deposits in the world, has pushed back plans for its international share market debut to the first quarter of 2013.Chief Executive B.Enebish has said a listing in February or March next year was “more realistic” than hopes of a market debut in 2012.

ETT pushes back market debut to 2013 Q1 ErdenesTavanTolgoi, owner of one of the largest coking coal deposits in the world, has pushed back plans for its international share market debut to the first quarter of 2013.Chief Executive B.Enebish has said a listing in February or March next year was “more realistic” than hopes of a market debut in 2012.The state-owned company is planning to list 29 percent of its shares in a float that analysts expect could raise about $3 billion.

Big miners face tough questions on capex inflation Rio Tinto and other big miners have been facing tough questions from shareholders over ever larger and more capital intensive projects at a time when robust commodity prices have cooled.

ETT pushes back market debut to 2013 Q1 ErdenesTavanTolgoi, owner of one of the largest coking coal deposits in the world, has pushed back plans for its international share market debut to the first quarter of 2013.Chief Executive B.Enebish has said a listing in February or March next year was “more realistic” than hopes of a market debut in 2012.

Origo reports world class molybdenum resource at Mandal Moly project Origo Partners reports that the results of the recently completed maiden JORC compliant resource statement for Moly World Ltd’s Mandal Moly molybdenum and tungsten project reveal a total resource of 203.4 million tonnes of ore grading 0.1261 per cent molybdenum with total contained molybdenum metal of 256,000 tonnes.

Haranga Resources defines maiden JORC Iron Ore Resource at Selenge Haranga Resources has defined a maiden JORC Resource for the Selenge Iron Ore Project. The JORC Inferred Resource is based at the Bayantsogt prospect, one of four primary exploration targets at Selenge. It comprises 32.8 million tonnes of iron ore at an average grade of 24.4% iron, based on a 15% iron cut-off grade. Mineralisation remains open in all directions and at depth.