September 21, 2011

Ivanhoe roiled as Mongolia rethinks Oyu Tolgoi, says partner Rio makes ‘unauthorized’ statements

News that the Mongolian government is rethinking a 2009 deal that gave Ivanhoe Mines and Rio Tinto a 66% stake in the massive Oyu Tolgoi gold and copper project has…

September 21, 2011

India may face 200 mn tonnes coal shortage

Shortage in supply of coal from domestic sources is likely to exceed 200 million tonnes during the next (12th) Five Year Plan (2012-17) if proactive measures were not taken to…

September 21, 2011

Mercator buys 50 pc stake in Indonesian mine for USD 30 mn

Mercator Lines has acquired 50 per cent stake in a coal mine in Indonesia's Kalimanthan province for about USD 30 million (Rs 145 crore), a top company official said today.

September 21, 2011

Coal takes off

Without international agreements to limit greenhouse gas emissions, a new energy report sees world coal consumption taking off, rising from 139 quadrillion Btu in 2008 to 209 quadrillion Btu in…

September 21, 2011

Each day of the strike at Grasberg costs Freeport-McMoran 3 million pounds of copper and 5 thousand ounces of gold

Freeport-McMoran Copper & Gold reported on Wednesday that the strike at its Grasberg operations in Papua, Indonesia, which began Sept. 15, is costing the company about 3 million pounds of…

September 21, 2011

China, India vie in tough race to acquire big chunk of Australian coal fields

Three years before it has yet to really produce coal, the northern Galilee Basin is already fully booked to Indian and Chinese coal mining companies. The Australian Newspaper said India's…

September 21, 2011

Indian iron ore corruption scandal spreads to Goa

The Hindustan Times reports that Goa's mining minister, Digambar Kamat, is being accused by the BJP party and members of his own party for participating in illegal mining. The website…

September 20, 2011

Rio on track to mine 240m tonnes of iron ore; analyst downplays oversupply concerns

An $85 billion expansion of the iron ore industry in Australia will not depress the price of the crucial steelmaking ingredient because the major producers will simply curtail their outputs.…

September 20, 2011

Mongolia eyes changes to Oyu Tolgoi copper deal

The Mongolian government is discussing possible changes to a 2009 investment agreement for the massive Oyu Tolgoi copper-gold deposit, media reports quoted Mongolia's finance minister, S. Bayartsogt, as saying Tuesday.…

September 20, 2011

Mongolia discussing changes to Oyu Tolgoi copper deal -report

The Mongolian government is "discussing" possible changes to a 2009 investment agreement for its massive copper-gold deposit at Oyu Tolgoi, media reports quoted the country's Finance Minister S. Bayartsogt as…