HOTLINE: Mongolian copper etched in history

After being buried under the earth for years, a piece of copper has found its way to Mongolia’s national museum.

After being buried under the earth for years, a piece of copper has found its way to Mongolia’s national museum.

Earlier this month, a ceremony was held to place a sample of copper concentrate produced by Oyu Tolgoi on display at the Geology and Minerals Hall of the Mongolian National Museum.

“This was the first time copper concentrate mined in South Gobi assumed its place in our nation’s cultural, historic and natural exhibits […],” the company said.

“This concentrate is a resource of Mongolia […],” Dr D Sukhbaatar, director of the Mongolian National Museum, said.

The lump of red metal has so far done well to stand the force of elements to become a part of history.

Here’s hoping that the arbitrations going on involving Mongolian copper producer Erdenet, and Standard Bank’s recent decision to sell its loan book there, do not reduce copper’s capacity to become a part of Mongolia’s growth story.

editorial@metalbulletin.com

What to read next
The global copper market has finally received the widely anticipated news that imports to the US will be tariffed from August 1. The finer details of the tariffs, including their scope, and whether key copper-exporting nations like Chile, Canada and Peru will be exempt, remain unclear.
LME copper prices took a significant hit following US President Donald Trump's announcement of a potential 50% tariff on copper imports. The uncertainty surrounding the timeline and implementation of the tariff has left market participants hesitant, with analysts noting its immediate impact on price momentum and trading activity.
Fastmarkets has launched MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonne on July 9 due to an expected increase in Indonesia-origin aluminium exports. MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonneQuality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sowQuantity: Min 500 tonnesLocation: FOB IndonesiaTiming: […]
To increase the transparency of our methodology, Fastmarkets clarifies that the quotation period of the MHP nickel payable indicator is the month of delivery, or the month M. Any data points Fastmarkets received otherwise will be normalized to the M month based on the monthly spreads of the prevailing exchange-traded Class-1 nickel reference price, or […]
'Probably miscalculated’ assumptions at Kakula mine force Ivanhoe to overhaul entire Kamoa-Kakula complex, explains CEO Marna Cloete.
Following an initial consultation with the market, Fastmarkets is proposing to:  The new specifications would be as follows, with amendments in italics: MB-CU-0002 Copper grade 1 cathode premium, ddp Midwest US, US cents/lb Quality: Grade A 99.9935% min copper cathode conforming to LME specifications BS EN 1978:2022 – Cu-CATH-1 or Grade 1 Electrolytic Copper Cathode ATSM B1115-10 Quantity: Min […]