Stakes high for Rio Tinto, Mongolia as Oyu Tolgoi talks loom

Iron ore production rose 3.3% compared with the same period last year to hit a fresh quarterly record of 95.1 million tonnes.

Fire shrinks Mt Whaleback iron ore production, but output at world's largest copper mine Escondida in Chile jumps 23%.

Delayed ramp-up at Escondida, mine sequencing at Kennecott.

Investors in Queensland Mining (ASX:QMN) got an unexpected surprise Monday morning after the company announced Friday it was selling its White Range copper, gold and cobalt project.

The metal has doubled in prices since late 2015 and investor demands are rising for this "hot commodity."

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Upfront capital costs for the development of the Jan Karski mine totals $630 million with Chinese lenders expected to financing 85 percent of it.

The project will be the Japanese company’s first desalination plant and it is estimated to require an investment of around $623 million (70 billion Yen).

Sale is part of Rio’s planned exit from Australian coal to focus on iron ore, copper and aluminum.