mineral exploration project – commodity prices – mining stock- trade and market

Mongolia Energy Corp, a former technology company that remade itself into a natural resources developer in 2007, will deliver its first coking coal cargo this August and is also looking at projects beyond Mongolia, a senior executive said.

Mineral rich Mongolia is attracting more attention from global investors after a deal in October with Ivanhoe Mines and Rio Tinto to develop the $3 billion Oyu Tolgoi mine, one of the world’s biggest untapped copper and gold deposits.

Growth of industrial sector in China is a remarkable growth. growth in industrial sector demand growth was followed by a significant supply of energy, so that the government of China should make the production of coal and imported coal as an energy source. In 2009 the import of coal and coal production of China has increased sharply.

Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could undermine export markets for the Australian commodity.

Rio Tinto chief executive Tom Albanese said he knew the leader of an energy company who likened opportunities in Mongolia to a ‘‘religious experience’’.

The trend of the coking coal market still remains obscure theses days. As the steel market remains gloomy and coal market is not likely to go up by any extent. Sources also indicate that some steel mills requested cuts on coal price.