Despite a last-minute bid from commodity trader Glencore, Rio Tinto has decided to sell its coal operations in the Hunter Valley of New South Wales to Yancoal Australia. The sale price for the operations of Rio’s subsidiary Coal & Allied is US$2.45 billion.
Southern Gold’s subsidiary, Southern Gold Korea, has received approval from South Korean mining regulators, which enables the re-opening of and access to the historic Gubong underground gold mine. It was South Korea’s second largest gold mine with multiple gold-bearing quartz veins mined over 60 years.
After completing a restructure Entrée Resources has retained ownership of its joint venture interest in the construction stage Oyu Tolgoi underground mining project in Mongolia as its flagship asset, with other royalty assets in Peru and Australia.
The second hole of the 2017 season drilled at the East Zone on Kenadyr Mining’s Borubai project in the Kyrgyz Republic, has intersected 50 metres @ 8.15 g/t gold, from a downhole depth of 151 metres. The zone is directly adjacent to Zijin Mining Group’s operating Taldy Bulak Levoberejnyi (TBL) Project.