Eurochem produces first potash at new $2bn Russian plant

MINEX FORUM | March 13, 2018
img0 Russia-focused fertiliser producer Eurochem said it has produced its first potash at its new $2-billion Usolskiy plant in Russia. The project may intensify competition among suppliers of the crop nutrient in the region, traditionally dominated by Russia’s monopoly producer Uralkali and Belarusian miner Belaruskali. Privately-held Eurochem, one of the world’s largest producers of nitrogen-based fertilisers, plans to produce the first ready-for-sale potash at its new Russian plant in the second quarter ...

Polish JSW beats forecasts with 2017 profit, but suspends dividend

MINEX FORUM | March 13, 2018
img0 ARSAW – JSW, the European Union’s biggest coking coal producer, said on Monday its 2017 net profit jumped to 2.54-billion zlotys ($745.31-million) from 6.7-million zlotys a year earlier, driven by a 65% rise in the average coking coal price. Analysts polled by Reuters had expected state-run JSW to report a net profit of 2.41-billion zlotys for 2017 and 620-million zlotys for the fourth ...

As copper booms, miners take hunt to Mongolian dunes

MINEX FORUM | March 13, 2018
img0 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia’s Gobi Desert. For years Rio Tinto has been the sole international coppermine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant Oyu Tolgoi project. Others have steered clear due to the risks of operating in a ...

Anti-corruption body asks Rio for Oyu Tolgoi-related info

MINEX FORUM | March 13, 2018
img0 Situated in the southern Gobi desert of Mongolia, about 550 km. south of the capital, Oyu Tolgoi is one of the largest high-grade copper deposits in the world. (Image courtesy of Oyu Tolgoi LLC..) Rio Tinto-controlled Turquoise Hill Resources said Tuesday it had received an “information” request from the Mongolian Anti-Corruption Authority (ACA) to provide financial data associated ...

Russia and China to work on joint uranium mining project

MINEX FORUM | March 13, 2018
img0 Stages of uranium processing. Photo by ARMZ Uranium Holding Co. Rosatom announced on Monday that the Russia-China Investment Fund for Regional Development will kickstart the financing for a uranium mining project in Russia’s Zabaikalsky Territory. Zabaikalsky is located in the southeastern region of Transbaikalia and has a 998-kilometre border with China and a 868-kilometre border ...