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Rio Tinto, Mongolia resolve issues over $6.925B Oyu Tolgoi copper project; underground operations to start

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Rio Tinto, Turquoise Hill Resources (TRQ) and the Government of Mongolia have reached an agreement that will move the Oyu Tolgoi (OT) copper mine project ( earlier post ) forward, resetting the relationship between the partners and increasing the value the project delivers for Mongolia.

Mongolia 150
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Rio Tinto and First Quantum Minerals partner to progress the La Granja copper project in Peru

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Porphyry copper deposits account for approximately 60% of global copper production, and are typically mined using open-pit methods. USGS map of global mineral resources. billion tonnes at 0.51% copper (130 Mt at 0.85% Cu Indicated Mineral Resources and 4,190 Mt at 0.50% Cu Inferred Mineral Resources).

Peru 273
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Hexa Research forecasts $10.96B global rare earth elements market by 2020

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will drive global market growth, resulting in a global rare earth elements market reaching $10.96 China, with more than 93% of the global production, was the largest producer of neodymium in 2012. Molycorp and Inner Mongolia Baotou Steel Rare Earth Hi-Tech Co. billion in 2020.

2020 150
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NIO unveils production electric SUV for China market; NIO ES8 to launch end of this year

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China-based electric vehicle startup NIO unveiled the NIO ES8, an electric SUV planned for serial production for the China market later this year. NIO is a global start-up; NIO has more than 2,000 employees in San Jose, Shanghai, Munich, London and eight other locations. NIO intends to equip the ES8 with a swappable battery pack.

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Molycorp to accelerate initial start-up of new rare earth processing facility; $114M additional investment

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Every month that we accelerate our start-up provides that much more product to customers who need it now. This acceleration also expands the diversity of global supply, which is an increasingly urgent matter for rare earth consumers. —Mark Smith.

Mongolia 210
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4,500th GE Evolution Series Locomotive enters service; reductions in fuel consumption and emissions

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The Evolution Series Locomotives operate in key rail markets worldwide, including in the US, Canada, Mexico, Brazil, Egypt, Kazakhstan, China, Mongolia, and Australia. The Texas facility will manufacture, assemble and remanufacture GE’s rail and transportation-related products.

Emissions 210
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Duke study finds China’s synthetic natural gas plants will have heavy environmental toll; 2x vehicle GHG if used for fuel

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Coal-powered synthetic natural gas (SNG) plants being planned in China would produce seven times more greenhouse gas emissions than conventional natural gas plants, and use up to 100 times the water as shale gas production, according to a new study by Duke University researchers published in the journal Nature Climate Change. —Robert B.

Gas 220