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Rio Tinto strikes power deal for Oyu Tolgoi
The world’s second-largest miner, Rio Tinto, has reached an agreement with Mongolia regarding the construction of a power plant to supply the giant Oyu Tolgoi copper and gold mine, located in the Gobi Desert. The new deal is a revision of the original power source...
Copper heads for best quarter since 2010 as supply worries mount
Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged about 20%...
Shrinking aerospace demand to keep pressure on cobalt
Cobalt prices are at 10-month lows due to sagging demand from the electric vehicle and aerospace sectors amid the covid-19 pandemic and look likely to slide further as airlines defer maintenance. Airlines such as Australia’s Qantas, Qatar Airways and Singapore...
Chilean mines minister sees 3.5% drop in copper output
Chile’s mines minister Baldo Prokurica on Friday cited figures projecting a decline in the country’s copper output of 200,000 tonnes as a result of the growing impact of the new coronavirus on the industry. Prokurica said the Cochilco copper commission’s projection,...