Published News » Mining

TORONTO, ONTARIO, Mar 01, 2010 (MARKETWIRE via COMTEX) -- Khan Resources Inc. ("Khan") announced today that it acknowledges that Atomredmetzoloto JSC ("ARMZ"), a Russian state-owned nuclear energy corporation, intends to allow its unsolicited offer to purchase all of the outstanding common shares of Khan (the "Shares") for $0.65 per Share to expire. The decision by ARMZ to aba

MELBOURNE (Reuters) - Global miner Rio Tinto (RIO.L) will increase its stake in Canada's Ivanhoe Mines (IVN.TO) by 2.7 percent to 22.4 percent for $233 million, in a move tied to plans to jointly develop the giant Oyu Tolgoi copper mine in Mongolia.

March 1 (Bloomberg) -- Rio Tinto Group, the world’s third- largest mining company, will spend C$245 million ($233 million) to increase its holding in Ivanhoe Mines Ltd., its partner in the Oyu Tolgoi project in Mongolia.

Rio will buy 15 million shares at C$16.31 each, the London- based company said today in a statement to the Australian Stock Exchange. That will lift its holding

Feb. 23 (Bloomberg) -- Energy Resources LLC, a closely held coking coal producer in Mongolia, is considering an initial public offering in Hong Kong or London, the majority shareholder said.

“It’s just an idea at the moment, but we are looking to raise funds and an overseas listing is a good way to raise the profile of the company,” Gankhuyag Adilbish, managing director of MCS Holdin

The European Bank for Reconstruction and Development (EBRD) is making a $35 million loan available to the Mongolian arm of Australian Contractor, Leighton, to help finance the company's ability to offer contract mining services there.

Foreign mining companies are likely to remain involved in developing Mongolia’s huge Tavan Tolgoi coal project, in spite of government statements indicating that Ulan Bator would prefer to keep 100 per cent equity ownership.

A spokesman for Sükhbaataryn Batbold, the Mongolian prime minister, on Tuesday denied reports that a plan to auction 49 per cent of Tavan Tolgoi to f

ULAN BATOR, Mongolia - Mongolian Prime Minister Batbold Sukhbaatar said he wants to keep full ownership of a key coal asset in government hands, potentially restricting access to a source that had drawn strong interest from Western mining companies.

Speaking to reporters at the first Mongolia Economic Forum, Mr. Batbold said he favors keeping Tavan Tolgoi, a huge co

ULAN BATOR, Feb 8 (Reuters) - Mongolia's decision not to auction a stake in the massive Tavan Tolgoi coal project will allow the nation a greater return on the deposit, Prime Minister Sukhbaatariin Batbold said on Monday, confirming an earlier Reuters report that the sale would be cancelled.

The government had previously planned to sell a 49 percent share in the Tavan Tolgoi deposit