Turquoise Hill Resources Ltd. rose to a one-month high after Mongolia’s Prime Minister Altankhuyag Norov said his government fully supports project financing to restart construction on the second phase of the Oyu Tolgoi mine.
Turquoise Hill Resources Ltd., the miner controlled by Rio Tinto Group, said all parties in the Oyu Tolgoi copper mine in Mongolia agreed to seek a funding extension for the underground expansion amid talks with the government.
Copper is heading for the biggest surplus in 13 years as new supply hits the market. The excess may turn out to be smaller than investors expect as new mines struggle to ramp up, according to the metal’s biggest producer.
Defense Secretary Chuck Hagel met Chinese President Xi Jinping today to push for better military ties, a day after his being told by his counterpart in Beijing that China won’t be contained by the U.S.
Alexander Molyneux, chairman- designate of Blumont Group Ltd., one of three Singapore stocks whose trading is being probed by police and the regulator, dropped a plan to buy shares in the company because of lawsuits.
Anglo American Plc said copper operations are running “exceptionally well,” opening the door to exceeding output forecasts, as the London-based miner seeks to boost operations after project writedowns and lower profits.