Mining Press Roundup: Chinese Border Checks Choke Rio Tinto's Oyu Tolgoi Copper Shipments

Copper concentrate exports from Rio Tinto's Oyu Tolgoi mine in Mongolia have dropped about 70% over the past two weeks because of Chinese border restrictions, the Associated Press reported Thursday, as relayed by MINING.COM. Oyu Tolgoi is a core copper asset for Rio Tinto, and the border crossing is also where its sales are counted. The slowdown comes as the World Bank says copper availability has already tightened, which makes any interruption at a mine of this scale more consequential for the market.

Rio Tinto: Oyu Tolgoi Shipments Slow at the Chinese Border

Oyu Tolgoi's daily truck convoys have fallen to about four from 12 to 13, mine operator Oyu Tolgoi LLC told the Associated Press, according to MINING.COM. The restrictions affect the crossing between Mongolia's Gashuunsukhait port and China's Ganqimaodu port. Mongolian border officials attributed the slowdown to infrastructure and technology upgrades in China, including an in-vehicle facial-recognition system for truck drivers. The Associated Press, citing Mongolian authorities, said the work began in August and could continue until the end of December.

The mine matters to Rio Tinto's numbers. Oyu Tolgoi produced 113,500 tonnes of copper in concentrate in the third quarter, up 27% from a year earlier, and accounted for about 56% of Rio Tinto's consolidated copper output for the period, MINING.COM reported. Rio Tinto owns 66% of the operation and manages it, and Mongolia's government holds the remaining 34%.

The reporting mechanics are worth noting. Rio Tinto records Oyu Tolgoi's payable metal in concentrate when customers collect it at the Mongolia–China border, so the crossing is also where the mine's reported sales are measured. In the first nine months of 2026, the mine produced concentrate containing 312,000 tonnes of copper, against sales of 310,600 tonnes of payable copper. Those figures predate the reported slowdown. The same is true of Rio Tinto's group copper guidance. In its Oct. 14 update the company maintained a forecast of 800,000 to 870,000 tonnes for this year, and that forecast also predates the border problems. Longer term, Rio Tinto is targeting average annual production of about 500,000 tonnes from Oyu Tolgoi's open pit and underground mine from 2028 through 2036.

World Bank: Copper Price Estimate Raised

The backdrop is a market where supply is already stretched. The World Bank raised its 2027 copper price estimate 18% from April to $13,000 per tonne in its October outlook, released Wednesday, MINING.COM reported. The bank said that $13,000 is only 1.5% below the $13,200 average it now projects for this year.

The bank said mine disruptions and the movement of refined metal into U.S. warehouses helped tighten copper availability elsewhere. It also noted that the Democratic Republic of Congo banned copper concentrate exports in August to encourage domestic processing, although exemptions could limit the immediate impact. Equity markets are showing little alarm so far. COPX, the copper miners ETF, closed at $76.83 on Oct. 28, up 0.2%, according to market data.

Eldorado Gold: Lower Guidance and Higher Skouries Costs

Eldorado Gold cut its 2026 gold forecast by 18% at the midpoint, to 425,000–475,000 oz. from 495,000–600,000 oz. previously, MINING.COM reported. Quarterly results issued late on Wednesday also disclosed $160 million (C$224.6 million) in additional Skouries costs, plus $80 million of previously planned spending now expected before commercial production.

Skouries is at the centre of the revision. Its expected gold output this year shrank to 10,000–35,000 oz. from 60,000–100,000 oz., a 72% reduction at the midpoint. Total Skouries project capital is now estimated at $1.43 billion, up $110 million. Eldorado's free cash flow deficit widened to $191.1 million from $87.4 million a year earlier as spending continued at Skouries and McIlvenna Bay.

The market reacted. Eldorado dropped 7.9% to C$44.44 Thursday morning in Toronto, valuing the company at about C$11.6 billion ($8.3 billion). Jefferies analyst Fahad Tariq wrote that "another capital increase and materially lower 2026 production reinforce execution concerns heading into 2027."

Perpetua Resources: US Army Backs Tungsten Evaluation at Stibnite

Perpetua Resources received a new 36-month, $40 million award through the U.S. Army's Defense Ordnance Technology Consortium to evaluate producing tungsten concentrate at its Stibnite project in Idaho, MINING.COM reported. Perpetua said it will match the Army's $40 million contribution in the joint investment. The initial 18-month phase is expected to cost approximately $18 million and be shared equally between Perpetua and the Army.

The supply case is plain. There has been no commercial tungsten mining in the United States since 2015, and the country is wholly reliant on imports, with recent Chinese export controls and new federal sourcing restrictions adding to supply risk. Drilling at Perpetua's Hangar Flats deposit returned 9.8 meters grading 4.6% tungsten, 8.3% antimony, which underpins the new award. The award brings total U.S. Government awards to the company for critical minerals to $126 million since 2022.

Nova Minerals: Final Alaska Permits for Antimony Project

Nova Minerals announced late Tuesday that it received final approvals from the Alaska Department of Natural Resources for the plan of operations and reclamation plan for its Department of War funded antimony project, completing its permitting process, MINING.COM reported. Nova said it secured all required permits within approximately three months of submission.

Phase 1 of the Alaska antimony development is fully funded through $43.4 million in Department of War funding for military-grade antimony trisulfide. CEO Christopher Gerteisen said the final permits move the project "from development planning toward construction and targeted production in 2027."

Rio Tinto: Argentine Lithium Projects Open

Rio Tinto opened two Argentine lithium projects, the Fénix 1B expansion and Sal de Vida in Catamarca province, backed by a combined $1.4-billion investment, MINING.COM reported. Both achieved first production in the second quarter of 2026, ahead of schedule. Together they will add 25,000 tonnes of annual lithium carbonate equivalent (LCE) capacity once fully operational, the company said. The two sites use different technology: Fénix uses direct lithium extraction (DLE), while Sal de Vida relies on conventional evaporation ponds.

CEO Simon Trott said the company is executing "towards our global target of 200,000 tonnes lithium carbonate equivalent annual production capacity by 2028." Rio Tinto plans to submit its proposed Fénix II expansion, which would need about $1 billion in additional investment, to Argentina's RIGI in 2027. Argentine lithium shipments generated $1.467 billion between January and August 2026, a 190.5% increase from the same period a year earlier. LIT, the lithium ETF, closed at $62.69 on Oct. 28, up 0.1%, per market data.

Glencore: Cobalt Output Falls as Material Is Held Back

Glencore produced 13,700 tonnes of its own-sourced cobalt through September, down from 28,500 tonnes a year earlier, according to its third-quarter production report released Thursday and cited by MINING.COM. The company said it is increasingly retaining cobalt contained in mixed ore in solution rather than converting it into saleable hydroxide, and it excludes the retained material from reported production.

The volume held in solution remains undisclosed, which makes it difficult to assess how much additional supply could eventually reach the market. The policy backdrop is Congolese. The Democratic Republic of Congo suspended cobalt exports in 2025 after prices slumped to nine-year lows, then introduced quotas that are expected to remain in place until at least the end of 2027.

What It Means

Supply security runs through most of today's news. The Oyu Tolgoi slowdown shows how a border procedure, rather than a geological or operational problem, can restrict a major copper source. It lands as the World Bank points to mine disruptions and U.S. warehouse stockbuilding as sources of tightness. Rio Tinto's guidance and nine-month figures predate the slowdown, so the fourth-quarter numbers will be the first real test of its effect.

Governments are also directing capital toward critical minerals. The U.S. Army and the Department of War are funding tungsten and antimony in Idaho and Alaska, while Argentina's lithium output is ramping with new Rio Tinto capacity. Eldorado's results are a reminder that cost and schedule risk remain even in a strong metals market.

This roundup covers press releases published on October 29, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.