INTERNATIONAL COAL NEWS

News Wrap

IN THIS morning's News Wrap: Turquoise Hill is yet to resolve differences with Mongolia over Oyu ...

Lou Caruana

Turquoise Hill is yet to resolve differences with Mongolia over Oyu Tolgoi

Rio Tinto's ambitious multibillion-dollar copper project in Mongolia, Oyu Tolgoi, is starting to hit its straps operationally, but its future remains clouded by a growing number of disputes with the Mongolian government, according to the Sydney Morning Herald.

Rio and the Mongolian government have traditionally sparred over the size of the developing nation’s stake in the giant copper and gold mine, but the two parties are also yet to agree on an outstanding $127 million tax bill, how to finance a proposed expansion of the mine, how to build it and certain mine permits.

The disputes are holding back development of the $6 billion second-stage underground project at Oyu Tolgoi, which contains a much bigger prize than the open pit.

Eddie Sugar onboard to boost Crusader Resources

The architect behind the stunning share price rise of Liquefied Natural Gas LTd has turned his attention to Brazilian iron ore and gold play Crusader Resources, according to The Australian.

Perth-based Crusader yesterday announced it had signed up Eddie Sugar’s EAS Advisors in an attempt to drum up the interest of North American investors in its suite of Brazilian resources assets.

Lock The Gate cries foul over photograph removal

A photograph at an Ipswich mining forum has turned into a minor international incident after a federally funded organisation sought to prevent its distribution, according to the Sydney Morning Herald.

The photograph, taken during a workshop for a visiting delegation with mining interests from developing countries, featured delegates posing with Lock The Gate’s trademark yellow triangle signs.

The meeting was part of a four-week program run by the federally funded International Mining for Development Centre, which offers advice to developing nations with burgeoning mining industries.

When the photograph appeared on Ipswich Councillor David Pahlke’s website, the IMDC sent him a letter asking for it to be removed.

Lock The Gate spokeswoman Julie Devine, who gave a presentation to the delegation and supplied the signs, said there was a “veiled threat” to end consultation between IMDC delegates and community groups such as Lock The Gate.

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