Centerra Gold says search for missing employees underway at Kumtor mine

CAT keeps slashing costs as it tries to offset issues out of its control, such as the falling price for everything from iron ore to oil.

Documents obtained and verified by The Australian, show that Rio Tinto offered Mongolia to forsake a “net smelter return” of 2% cent of the project’s revenue.

It also said it has reduced its net debt balance by more than $400 million.

The country’s parliament has designated its Gatsuurt Project as strategically important, paving the way for Centerra's application for the necessary approvals.

Red metal output at the mine, over 18 months behind schedule and $750 million over budget, is expected to ramp-up by July.

December is a period that sees lower levels of exploration and resource announcements, and last month was every bit as disappointing as expected, an SNL report shows.

New evidence has emerged of China's interest in digging for oil, gas a minerals in the frozen continent.

The global miner and commodities has estimated spending on oil projects for this year and next of $2 billion and $1 billion on coal expansions.

The company pointed to the transition of its Argyle mine from open pit to underground, as well as a shift toward processing lower-grade ore at Diavik as the main reasons for the drop.