Нүүр English news

Southgobi Resources Fires CEO After Chalco Withdraws Takeover

SouthGobi Resources Ltd. (SGQ), which mines steelmaking coal in Mongolia, fired Chief Executive Officer Alexander Molyneux, effective immediately, eight days after Aluminum Corp. of China Ltd. dropped its C$925 million ($949 million) takeover bid.Molyneux will be replaced by Ross Tromans, the Vancouver- based company said in a statement today. Tromans formerly managed coal marketing at Rio Tinto Group, the London-based mining company that controls SouthGobi through its ownership of Vancouver’s Turquoise Hill Resources Ltd.Aluminum Corp. of China, known as Chalco, dropped its offer to buy a 60 percent stake in SouthGobi at C$8.48 a share, according to a statement Sept. 3. The deal stalled in May when Mongolia passed a law restricting foreign state-owned companies from controlling key assets. SouthGobi halted all mining in Mongolia as of June 30, according to a statement on Aug. 13.


November start for Mongolian mine

ASX-listed Guildford Coal was expecting coal production from its Mongolian operation to start in November this year, after its 75%-held subsidiary Terra Energy said that mining would start in the September quarter.The North Pit of the South Gobi operation was expected to deliver some three-million tons a year of coking coal in the first full year of operation, ramping up to four-million tons a year during the following year.Terra Energy said in a statement that the future development of additional pits would likely increase mine production up to ten-million tons a year from the multiple pit complex within an anticipated five-year timeframe.


Who loses out in China’s coal consolidation?

As part of a plan to double the amount of railway capacity it owns, China’s Shenhua Energy Company is in talks with the Ministry of Railways to invest 10 billion yuan ($1.6 billion) in rail expansion projects in the coming months. The projects would help increase the amount of rail capacity Shenhua owns – currently almost 1600km – to 3170km. The expanded rail lines will better link major mining operations such as Datong in Shanxi, Ganqimaodu and Zhungeer in Inner Mongolia, and possibly the enormous Tavan Tolgoi mine in Mongolia to Shenhua’s major eastern ports in Huanghua and Tianjin. From there, the coal most likely will be shipped to southern Chinese coastal cities in Guangdong and surrounding provinces, where demand is high but local reserves are scant.


FeOre achieves 62% iron grade concentrate in Ereeny Project study

FeOre (ASX: FEO) has demonstrated that its Ereeny Project in Mongolia is capable of producing a 62% iron grade concentrate following the completion of a process and processing facility study.Encouragingly, with the establishment of the processing technique developed, the project is likely to yield high grade iron ore, which will deliver an optimised return on investment.The study, which was conducted by China Minmetals Corporation subsidiary Changsha Research Institute of Mining and Metallurgy Co., showed this grade could be achieved through industry standard multi-stage grinding and staged magnetic separation processing.


The New Great Game: Potential Impact of Mongolia’s Mineral Development on China, Russia, Japan and Korea

The need for key minerals to feed the Chinese economic juggernaut, as well as the advanced economies of Japan and South Korea, has attracted the attention of the global political and financial investment communities. Mongolia, home to vast resources of coal, copper, rare earth minerals, uranium, gold and silver, had a 17% growth rate in 2011 and this year to date. It has the potential to strongly influence the political, economic, and environmental atmosphere of its North Asian region. Mongolia’s version of resource nationalism is not only of concern to the regional players, but also to the United States’ strategic and political interests in Asia for the next several decades.


Prophecy up 4.8% after Southgobi deal puts Mongolian coal back in focus

TSX-listed Prophecy Coal was trading up nearly 5% by early afternoon on Monday, riding the coat tails of fellow Mongolian coal miner SouthGobi.Ivanhoe Mines, in need of cash to complete its $5 billion copper gold project in Mongolia, earlier sold a controlling stake in its coal subsidiary in the Central Asian country to a Chinese consortium at a 28% premium to the prevailing price.


China mine hunt turns to Africa, S America, Asia

Chinese firms are on the prowl for mining investments in Africa, South America and central Asia as they look to feed ever expanding domestic demand for key commodities, but are switching away from Australia and Canada, which are getting too expensive.Iron-ore and copper have been the hot targets over the past few years, but more recently, China Guangdong Nuclear Power Corp has gone after uranium in Africa, and firms are now seeking gold, nickel, tin and coking coal, too.

  • «
  •  Start 
  •  Prev 
  •  1 
  •  2 
  •  3 
  •  4 
  •  5 
  •  6 
  •  7 
  •  8 
  •  9 
  •  10 
  •  Next 
  •  End 
  • »

Мэдээний төрлүүд


Арматур зарна Утас 70104863

  • Хаанбанк

  • Голомтбанк

  • Алт

  • Зэс

  • Төмөр

  • Уран

  • Нүүрс

  • Шинэ нийтлэл

  • Их уншигдсан

Нийт хандалт

mod_vvisit_counter7 хоног27
mod_vvisit_counterЭнэ сар2494