Mongolia’s Cabinet has decided to review a draft agreement on ownership of Tavan Tolgoi, a potentially huge coking coal project in the Gobi Desert that has attracted interest from some of the world’s biggest mining companies.
The decision means the Mongolian government will set up a working group to renegotiate ownership and investment rights for the [...]
India’s coal mining sector must eventually open up to allow foreign companies to own equity stakes if much-needed domestic production is to rise as fast as possible, state-run MMTC Chairman Sanjiv Bhatra told Reuters on Monday.
“For India as a whole there is no alternative but to open up to foreign investments through privatisation,” he [...]
Cia. Vale do Rio Doce plans to build a terminal at Beira port in Mozambique to export coal from its planned Moatize mine.
The terminal will be able to handle 12 million metric tons a year and will have a storage capacity of 600,000 tons, Cezar Medina of Rio Doce Mozambique said at the Coaltrans conference [...]
Sphere Investments, an Australian-listed company 18.4 percent owned by Saudi steel firm Hadeed and Qatar Steel, said that it will export seven million tons a year of Mauritania’s high grade direct reduction iron ore pellets from 2010 to the Middle East and North Africa (MENA) region, Gulf News reported.
To establish a long-term presence and tap [...]
Jindal Steel and Power has signed a contract with the Bolivian government to develop the El Mutun iron ore mine in the Latin American country, Naveen Jindal, managing director of the company, said here Thursday.
The Jindals are investing $2.1 billion in Bolivia to set up an integrated steel unit, which will have a capacity [...]
In a dire forecast, the Paris-based International Energy Agency is warning of an impending crunch in the supply of oil and natural gas needed to power world economic growth in coming years.
The IEA is the energy watchdog of the world’s 26 most-advanced economies, and its pessimistic assessment is contained its latest annual medium-term forecast to [...]
China’s strong demand for coal and iron ore is adding to the upward pressure on freight rates, which have risen sharply as the ship line-up builds in Australia after storm disruptions early this month.
Industry officials and traders said there was no sign of a slowdown in Chinese iron ore demand, despite Beijing imposing tax changes [...]
China’s Yanzhou Coal Mining Co. Ltd. has agreed to sell 200,000 tonnes of thermal coal to Japanese utilities at $75 per tonne FOB, a 15 pct rise on 2006 prices but a fraction of the volume sold last year, a source familiar with the deal said on Thursday.
Yanzhou exported around four million tonnes to Japan [...]
Venezuela moved closer to nationalizing its oil-rich Orinoco River basin, after four foreign oil companies signed deals giving Venezuela the lion’s share of the profits and two US companies pulled out altogether.
“ExxonMobil and ConocoPhillips are ending their participation in the exploration ventures,” Oil and Energy Minister Rafael Ramirez said Tuesday at the signing ceremony with [...]
Japan is feeling the heat over sharply rising prices for non-ferrous metals, especially rare metals, which are used in a wide range of high-technology products.
Global competition is intensifying for non-ferrous metals, including copper and lead, as well as for such energy resources as oil, natural gas and uranium. Prices have risen sharply in recent years [...]
