A fundamental choice for Critical Minerals development: "Fascism or radical democracy?"

The global demand for critical minerals like lithium and copper is surging, but how we attempt to quickly extract them, argues Katherine Teh , Executive Chairman of Spektrum Development , presents a fundamental choice: embrace authoritarian tactics that disregard communities or pursue transparent, consent-based development. In this pivotal moment, the stakes are high-ranging, from environmental destruction to lost economic potential. Which path should be chosen? Katherine Teh of Spektrum Development addressing the 2024 ACFID Conference WE ARE AT a crossroads in the energy transition. The gap between what the mining industry promises and what it delivers has been widening, creating not only delays but the potential for significant socio-economic and environmental risks. As the demand for critical minerals like copper, graphite, and lithium increases, we’re facing mounting challenges in securing these resources quickly enough to support the transition to renewable energy. The Problem...

Mongolia Energy to deliver first coal to Bayi Steel

Hong Kong-listed Mongolia Energy Corp will deliver its first coking coal shipment this August.The company's Khushuut project in western Mongolia will supply quality coal to China's steel industry in Xinjiang Province, with Bayi Steel, a unit of China's largest steelmaker Baosteel Group, as its first customer.

Khushuut is an open-pit mine in Khovd province and MEC has appointed Leighton Holdings as its contractor. The company has also been building a 340 km road linking the Khushuut mining area to the Mongolia-China border, which is about 550 km to Urumqi, the provincial capital of Xinjiang.

MEC aims to sell its coking coal at an FOB price of $120/t versus a production cost of about $35/t. Including transportation, its coal may sell at roughly $165/t.