The value of the commodity has fallen by about 35% over the latest 12-month period, hitting Australia’s economy harder than expected.
Negotiations between the parties, however, are expected to continue over the summer.
The company, however, says it has not yet received any direct communication from Mongolia on the matter.
While details remain unknown, it is believed the fix would be launched via the Shanghai Gold Exchange, the world's biggest physical bullion exchange.
But the Indian company said it remains committed to the US$12bn Carmichael project in Queensland, Australia.
The rapid run-up in Chinese shares this year is dimming the allure of another popular investment: gold. Luckily for fans of the metal, demand is looking healthy in India, the other big retail market in Asia.
Analysts from Goldman Sachs, Citi and ANZ predict prices will drop again below $50 a tonne.
The government approved the renewal of agreement for supplying up to 16.5 million tonnes (MT) of high grade iron ore to steel plants in Japan and South Korea over three years till March 2018.
A total of 56 passengers are being investigated.
Swiss-based mining giant Glencore says it will pay a new entity within its global chain to market and distribute its coal as it moves to close its Singapore office.
The world's largest potash miner is said to be mulling a merger with Uralchem, one of its main shareholders.
Hobbled by too much supply and not enough demand, especially in China, the coal needed to produce steel has fallen to levels not seen since 2004.
Israel's ICL has signed several contracts to supply its Indian customers with a total of 835,000 tonnes of potash.
In this post I revisit the energy production and consumption data for China looking for clues about the future direction of global energy markets.
Showing over 1,250 attempted transactions, this list includes both successful and failed attempts in order to visualize the ebb and flow of Chinese investments up until mid-2014.
Together these giant gold operations produce more than 10 million ounces per year.
PwC's John Gravelle on the mining industry's austerity drive, price realities and declining exploration spending.
Timetric data from over 630 mines across six regions, highlights a range of investment priorities in different areas of technology.
They are calling the company's shareholders “not to pay the price of ignorance” when it comes to investing in the Solwara 1 deep sea copper, gold mining project in Papua New Guinea.
Afghanis say that since the Aynak copper mine was set up, their lives have become plagued with conflict and environmental destruction.
It’s been a little over a year since Narendra Modi took office in India, and so far the results have been mostly positive for the South Asian country and the surrounding region…
A new report shows China's move away from industrialization and construction to consumption and services is happening much quicker than previously thought.
While the term "diamond" comes from the Greek word "Adamas", meaning "unconquerable", the earliest gems were found in India, in 4th century BC.
A third of money raised is destined for Canadian projects while Australia's share of global total drops to only 5%.
Over the last decade economic events or environmental issues came out as top risks to the world according to the annual WEF survey. Not this year.
Coal prices in Asia are already at levels that have forced some producers to curb supply and are unlikely to fall more than another $10, industry officials said.
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