Mining

Rio Tinto on June 26 recommended shareholders accept a new improved offer from Yancoal for its Australian coal assets, after the China-backed firm trumped a fresh bid from Swiss commodities giant Glencore.

Rio, the world's second-largest miner, said in January it was selling Coal & Allied to Yancoal Australia -- majority-controlled by China's Yanzhou Coal -- for $2.45 billion.

The Novi Sad-based daily Dnevnik is reporting that Serbia remains the only site anywhere in the world of "the new mineral" jadarite.

The mineral was discovered in 2006 in the country's western Jadar River Valley, and according to preliminary estimates, the deposits there can cover at least ten percent of the global demand for such highly sought-after elements as lithium and borate.

Two workers are trapped after a coal mine collapsed in the Black Sea province of Zonguldak on May 30, Doğan News Agency has reported.

The collapse occurred in a mine run by a private firm in Zonguldak's Kilimli district at 8:30 p.m. on May 30. 

Tayfun Keskin, 34, and Volkan Köroğlu, 32, were trapped after the mine's roof collapsed 600 meters away from the mine's entrance. 

In comparison to many other countries of similar size, Greece is a country with a significant mineral resources background in terms of quality, quantity and variety.

Over 400 people, including representatives of tourist companies and residents of town of Tran, a small town in Tran Municipality, Pernik Province, announced that they're against the investment intensions to develop a gold mine in the region.

A Chinese company is close to a decision to take over the copper mining and smelting complex RTB Bor, in eastern Serbia.

However, they have a list of conditions they will send to the Serbian government, the daily Blic writes.

Mining giant BHP Billiton reported yesterday a dramatic rebound in half-yearly profits on the back of soaring iron ore prices and improved productivity.

The underlying profit of $3.2 billion and earnings before tax of $9.9 billion for the last six months of 2016 exceeded expectations.

Workers at the world's top copper mine, BHP Billiton's Escondida in Chile, launched what they vowed would be a "long and hard" strike on Feb. 9, causing jitters on world commodity markets.

Escondida is the first of several key mines worldwide where contracts expire this year, and markets are watching nervously to see how the strike impacts supply and prices.

Alp Gürkan, the former chair of Soma Holding, which owned a mine that was the site of Turkey's worst-ever mine disaster in 2014, demanded his acquittal at his first hearing on Dec. 26, Doğan News Agency has reported.

Gürkan said he resigned as chair of the company on December 2013 and handed over the baton to his son due to his old age.

Four more suspects were arrested on Dec. 5 after a mine disaster in the southeastern province of Siirt left 12 miners dead and four missing, the state-run Anadolu Agency has reported

The four latest arrests include an occupational safety specialist.