Search Results for: mongolia
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Zijin thwarted by China Gold Industry Spill Worst in two years
Zijin Mining Group Co., China’s largest producer of gold, which is planned for two major foreign acquisitions this year. President Chen Jinghe place is saddled with regulatory probes and a plunging share price after the worst accident in the environment sector in years. “The company should focus on cleaning up, and their expansion plans in and out of China may be on the back burner” for the next year or two, Said Helen Lau, a Hong Kong-based analyst at UOB Kay Hian-Ltd. (more…) -
Analysis: Rising taxes on mining maps, but no shock moves
LONDON (Reuters) – The miners may have to face higher tax rates around the world, life after a compromise deal was hammered in Australia, but they will take solace from the lower likelihood of countries unilaterally raising taxes. Australia’s plans for a tax on windfall profits dumped on Friday after an intensive campaign against the mine workers and wrung an agreement for a new tax formula that is still increasing rates. (more…) -
Massey Energy Coal Miner denies that the sale
NEW YORK – Coal Miner Massey Energy Co. (MEE.N) said on Wednesday that the news suggests it is reparing to put up for sale are false. Yet the company continues to have discussions with several entities regarding various asset sales and / or joint venture opportunities, but said in a statement. The comments came seven weeks after 29 miners were slain in an explosion at a Massey-owned mine in West Virginia. (more…) -
Rio Tinto Australia fears mining taxes may spread
MELBOURNE – Global miner Rio Tinto Ltd (RIO.AX) (RIO.L) said on Wednesday it was concerned that other countries could lead to Australia by the introduction of a windfall tax on mining profits to follow. Australia new super profits, due to come into force in mid 2012, has angered the mining industry, which has warned that leads me expansions in danger and could push foreign investment. (more…) -
Major mining companies interest in buying a Oyu Tolgoi copper-gold project in Mongolia
LONDON – Major mining companies have strong interest in buying a Oyu Tolgoi share in the copper-gold project in Mongolia is shown, majority owner Ivanhoe Mines (IVN.TO) said Wednesday. “We’ve had a lot of interest, we have a lot of interest from other majors had,” Vice-Chairman Peter Meredith said on the sidelines of the World Mining Investment Congress. He added the sale would be done with the knowledge of Rio Tinto (RIO.L) (RIO.AX), the operator of Oyu Tolgoi to be due to one of the three world’s largest copper-gold mines. (more…)