Before joining the Investing News Network as senior editor, Andrew was an editor at MINING.com, a mining and mineral exploration blog covering the global mining industry and commodities markets. With a background in newspaper and trade magazine reporting, Andrew has written for the Black Press newspaper chain in British Columbia, Business in Vancouver and Baum Publications, where he edited magazines on construction and environmental technology. Andrew also has experience in transportation logistics, having worked at the Port of Vancouver and for Korean shipping giant Hanjin. He studied journalism and political science, and earned a Master's degree from the London School of Economics. In his spare time Andrew enjoys cooking, playing squash and travel.
Chinese state-controlled aluminum miner Chalco has dropped a $926 million bid for up to 60 percent of SouthGobi Resources. The stake is owned by Canadian company Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ), developer of the massive Oyu Tolgoi copper-gold complex in Mongolia and formerly Ivanhoe Mines.
Reuters reported that European coal prices are likely to remain stable, as higher Colombian exports after the resolution of a rail strike in that country, are offset by slowing supplies from the Unites States.
Problems for the coal sector continue, stemming from a supply glut and reduced demand in key consuming markets. However, the head of the world’s largest thermal coal exporter says the bottom of the market has been reached, and that prices should begin rising again after year-end.