Mine

Erdenet Mining mulls copper cathode plant Erdenet Mining Corp is carrying out a feasibility study for the construction of a 100.000-tpy copper smelter, according to commercial department head N. Enkhbaatar.

Fluorspar mining gets a boost Fluorspar is not among the top export items in Mongolia, but is beginnings to play an increasingly important role in the country’s economy. Total production is 2012 was 420,000 tons, according to the United States Geological Survey (USGS), making it the world’s third largest producer.

Mongolia issues 1-year contract to 3 local firms to mine West Tsankhi In a bid to boost coal output with immediate effect, Mongolia has lined up three local firms to mine the West Tsankhi block of the giant Tavan Tolgoi coal mine for a year.

Discover Mongolia-2013

MNO LLC’s Baga Hailaast gold mine in Zaamar soum Photo by Rentsendorj.B GAMMA

How Mongolia became the mouse that roared Turquoise Hill Netherlands is a little-known Amsterdam-based company with three employees, no office, and not even its own mailbox. To the government of Mongolia, though, the company represents billions in taxes that it will never see.

The Secret wealth of OYU TOLGOI In the past 4 to 5 years, one reason of Mongolian economy has become attractive to foreign investors was related to the development of the OT project. Political figures and experts have acknowledged this.

Rio Tinto to begin shipping copper from Oyu Tolgoi mine on Friday Reuters reports that shipments of copper from the Oyu Tolgoi mine will begin on Friday, June 14th. Oyu Tolgoi is critical to Rio Tinto, which is the majority owner of the mine, not only because of the scale of the operation—which is expected to produce 330,000 tons of copper each year for the next ten years, as well as 495,000 ounces of gold—but also because the company would like to reduce its dependence on iron ore and rid itself of small and unprofitable assets.

Chinese nationals suspected of illegal gold mining arrested in Ghana More than 100 Chinese nationals have been detained by police in the Ashanti region of Ghana. The Chinese citizens are suspected of illegally participating in gold mining. The detentions are part of a larger effort to stop illegal gold mining in the West African country, which is the second largest producer of gold on the continent after South Africa.

Chinese smelters await copper concentrate from Oyu Tolgoi An accident at the Grasberg mine in Indonesia which killed 28 people is causing concern at Chinese smelters because copper supplies are decreasing.

A mine containing copper and gold has been discovered in northwest China According to the Chinese state news agency Xinhua, Geologists have discovered a large gold mine in the western part of Xinjiang Province in the Ili Valley, near the border with Kazakhstan. The mine is believed to contain more than 53 tons of gold, worth about $3.2 billion.

One thousand march as twenty-eight feared dead in collapse of training center at Grasberg mine High in the mountains of an isolated region of Indonesia an underground training facility which is part of Grasberg mine collapsed last Tuesday. Ten people have been rescued, but 14 are confirmed dead and another 14 are still missing and are also feared dead.

Erdenes Tavan Tolgoi to mine the West Tsankhi coal area Erdenes Tavan Tolgoi plans to start mining coal in the West Tsankhi area. The goal is to increase the company’s production to pay off debts of $186 million to Aluminum Corporation of China or Chalco and $200 million to the state-owned Development Bank of Mongolia.

Oyu Tolgoi to begin shipping copper earlier than expected Rio Tinto appears to be on course to ship copper from the Oyu Tolgoi earlier than was anticipated. Sam Walsh, the company’s CEO, has indicated that it has settled its differences with the Mongolian government and is ready to move ahead.

While Mongolian coal exports plummet, U.S. coal exports are on the rise In the next 5 years, 175 coal-burning power plants in the United States are predicted to close, which represents 8.5% of total electricity produced by coal in that country.

Fears grow that Rio Tinto’s smelter in New Zealand may close as aluminum prices drop The government of New Zealand offered Rio Tinto a short-term subsidy to help pay for electricity for its aluminum smelter in Tiwai Point in southern New Zealand.

Cozy relationship in China between government and state mining businesses is scarring the environment The case of China presents a unique set of obstacles to protect the environment from mining activities. State companies retain strong ties to the government and continue to provide many of the services the state previously supplied.

Report released Monday indicates spiraling costs of Oyu Tolgoi project A report released by Turquoise Hill on Monday estimates that the cost of second-phase development of its Oyu Tolgoi copper and gold project at $5.1 billion. This equals what the company had estimated the year prior.

SouthGobi Resources blames suspension of licenses for fourth quarter losses Reuters reports that SouthGobi Resources Ltd’s revenue plummeted to $53 million from $179 million the year prior.

Centerra reports higher output, lower costs at Boroo Centerra Gold has reported that gold production at the Boroo mine in the fourth quarter of 2012 was 29,878 ounces, compared to 12,866 ounces in the same period of 2011. The production increase of 12,614 ounces is a result of processing higher grade ore from Pit 6 and the addition of 7,486 ounces of production from the heap leach operation which resumed in October 2012.