There is growing international alarm over a new variant of the coronavirus in the UK, with a host of countries imposing travel bans.

More than 40 countries have barred UK arrivals, as the EU held talks on forming a common policy.

Sweden banned foreign travellers from Denmark after cases of the variant were discovered there.

The new strain is more transmissible but there is no evidence it is more deadly.

New coronavirus variant: What do we know?

Tracking the global pandemic: Where has been hit hardest?

As the list of countries imposing travel restrictions on the UK grew, the World Health Organization (WHO) sought to put the risks in context.

WHO emergencies chief Mike Ryan said new strains were a normal part of the evolution of a pandemic, and that it was not "out of control", contradicting the UK's Health Secretary Matt Hancock, who used those words on Sunday.

In another development, travellers from South Africa are also facing bars from some countries after another new variant of the virus was discovered that is unrelated to the one found in the UK.

What's happening in Europe?

Much of the continent has banned UK arrivals in an attempt to halt the spread of the new strain.

France imposed a ban on passengers and freight from the UK, causing disruption at the key southern British port of Dover.

UK Prime Minister Boris Johnson said he was working with French President Emmanuel Macron to resume trade, and that he hoped the issue would be resolved "as soon as possible".

The French Transport Minister Clément Beaune said his country would by Tuesday announce what would replace the initial 48-hour ban on travellers and lorries.

In Brussels, officials have been holding talks on finding a co-ordinated response from the EU's 27 members.

No decision is expected until Tuesday, but one option discussed was demanding that UK arrivals test negative for Covid-19 before they leave.

There was some better news from the continent on Monday, with the EU's medicines regulator approving the Pfizer-BioNTech coronavirus vaccine, paving the way for jabs to be given as early as Sunday.

And in the rest of the world?

Many other countries, from India, to Iran, to Canada have banned UK arrivals.

The US is yet to follow suit, but two airlines - British Airways and Delta - will only allow passengers who test negative for the coronavirus to fly to New York's John F Kennedy airport.

Saudi Arabia, Kuwait and Oman have shut their borders completely to international passengers.

Along with Denmark, the new strain has also been detected in Australia, Italy and the Netherlands.

The handful of cases found in Denmark prompted Sweden to ban arrivals from there, the first time it has imposed such restrictions on a neighbour.

"There is an obvious risk that Danes will be tempted to cross over to Sweden to shop for Christmas presents," Home Affairs Minister Mikael Damberg said, according to the AFP news agency.

Some experts believe that the new strain has already spread beyond where it has been reported, crediting the UK's use of genomic surveillance for detecting it.

"I think we will find in the coming days that a lot of other countries will find it," Marc Van Ranst, a virologist from the Rega Institute for Medical Research in Belgium, told broadcaster VRT.

Ulaanbaatar /MONTSAME/. Prime Minister of Mongolia U.Khurelsukh received WHO Representative in Mongolia Sergey Diorditsa today.

During the meeting, they exchanged views on the current state of COVID-19 pandemic and the measures being taken to tackle the spread. Prime Minister U.Khurelsukh emphasized that the government of Mongolia intends to import high-quality vaccines approved by the World Health Organization as soon as possible. He also thanked the United Nations, especially the World Health Organization, for continuing to provide assistance and support to Mongolia in overcoming the pandemic, and said that professional and methodological advice on combating the pandemic and controlling the spread of the infection has been most significant.

The parties discussed the possibility of importing vaccines to Mongolia in the first quarter of 2021 within the framework of COVAX. Representative Sergey Diorditsa also provided information on the progress of some vaccines being developed internationally.

Moreover, he underscored that the measures taken by the Government of Mongolia and the State Emergency Commission, the transition to a state of readiness,

Ulaanbaatar /MONTSAME/. At its irregular meeting held today on December 21, the Cabinet made the decision to reintroduce strict lockdown partly in Ulaanbaatar city starting from 6 AM, December 23 until 6AM, January 6.

During the press conference, Deputy Prime Minister Ya.Sodbaatar highlighted that the decision was made based on the suggestions received from the Ministry of Health, the National Center for Communicable Diseases as well as scholars and researchers. He also noted that the measures have been set to be implemented from 6 AM December 23 in order to provide the opportunity for citizens who had left for rural parts of the country to return to the capital city and make necessary preparations.

He said, “Ever since the start of the outbreak, the Government of Mongolia prioritized the protection of our citizens’ health and safety. Thus, our strategy so far has been to take appropriate measures in order to stop further infection and to not cause an overload on the healthcare sector. Due to close contact, cases continue to be recorded daily in the cluster of Bayanzurkh district in the capital city. Furthermore, as patients that were discharged from the Bayanzurkh hospital on December 11-15 have also recently tested positive for the virus, professional institutions have warned us of the increased risk of the spread of infections. As the movement of citizens will significantly increase in correlation with the celebration of the New Year despite the decision to suspend widespread celebration, we made this decision in prevention of further increase in risk.”

While previously 13 sectors were allowed to run their operations during the strict-lockdown, this time the Cabinet will be allowing the operations of 15 types of businesses, which include food stores and supermarkets, food manufacturers, food distribution, gas stations, fuel suppliers, public toilets, disinfection and sterilization places, hospitals, courts and prosecution offices, pharmacies, power stations, banks, communications and media, and funeral services.

The metallurgical coal and infrastructure company plans to export up to 4 million tonnes of coking coal to China once its Ovoot Project in Mongolia comes into production.

Aspire Mining Ltd - Aspire Mining’s Mongolian project poised to benefit from China’s rumoured shift away from Australian coal

The company’s share price doubled last week after speculation about a Chinese ban on Australian coal

Aspire Mining Ltd is the only ASX-listed company to have coking coal assets in Mongolia and could be well-placed to benefit from recent speculation that China is shifting away from Australian coal.

The company owns the world-class Ovoot Coking Coal Project, and while rumours around the Chinese sentiment focus on thermal coal, the company experienced a sharp share price bump last week as investors anticipated a complete coal ban.

Last Monday, the company sat at around 7.2 cents per share and after Chinese State Media alluded to restrictions on Australian coal and a refocus to prioritise imports from Mongolia, Russia and Indonesia, the share price doubled before levelling out at around 8.6 cents.

China recently introduced tariffs on Australian goods including wine, barley and beef and the unofficial coal ban has only increased tensions between the two countries.

Coal market in Mongolia

Mongolian coking coal export volumes to China have been recovering from a border shutdown between the two countries earlier in the year.

For the six months ended June 2020, China imported 7.2 million tonnes of coking coal from Mongolia (a 56% decline from the prior year) while imports from Australia rose 65% year-on-year to 24 million tonnes.

However, for the balance of the second half of the year Mongolian coking coal exports are expected to revert to more normalised levels while Australian exports to China slow.

In September 2020 Mongolia exported 3.9 million tonnes to China, which represented 58% of China’s coking coal exports.

In contrast, Australia exported just 2 million tonnes to China that month.

The first news of curtailments to Australian coal imports was reported in October, placing Aspire in the perfect position to benefit from any increase in Mongolian exports going forward.

Ovoot Project development

The company is targeting early production of washed coking coal from a first-stage development of the Ovoot Project, known as the Ovoot Early Development Plan (OEDP).

The start of development is linked to the completion of the Definitive Environmental Impact Assessment (DEIA), which has been impacted with access the site to commence the ground activities halted by the deferral of local community engagement meetings due to COVID-19 control measures.

The OEDP and pre-feasibility study is focused on a truck and rail operation to deliver up to 4 million tonnes per annum to end markets in China and Russia.

Infrastructure map showing Ovoot transport route to steel customers

September trial shipment

During the September quarter, a trial shipment of 3,300 tonnes of coking coal was moved by rail from an existing mine in Mongolia to the city of Ulanqab in China, which after beneficiation will be railed further to Tangshan and the Port of Caofeidian.

This is an important target market for Ovoot coking coal as the company plans to truck coking coal from the mine site to access rail at the city of Erdenet.

Strong financial outlook

At the end of the September quarter, the company was fully cashed up, with a cash balance of A$38.5 million to fund the Ovoot Project development and no debt.

This strong financial outlook is partially due to a $33.5 million placement in September 2019, which saw major shareholder Tserenpuntsag Tserendamba increase his holding to 51% and strategically reposition Aspire as a Mongolian led company.

Notably, the placement price was 2.1 cents per share, and with a share consolidation of 10 to 1 in December 19– makes for a placement price the equivalent of 21 cents today which is substantially higher than the current share price.

Funding commitments through to production

In addition, financial support is secure with Tserenpuntsag supplying a letter of intent around provision of a corporate guarantee for up to $100 million to support future project financing for the OEDP and pro-rata equity contributions to maintain a 51% shareholding in Aspire alongside all shareholders to fund Ovoot into production.

The company is confident that the development of the Ovoot Coking Coal Project will leave Aspire well placed to take advantage of any shift from China away from Australian coal.

Mongolia has confirmed 32 new cases of coronavirus, all but one from the localized outbreak at Ulaanbaatar’s Bayanzurkh District General Hospital; the single casewas a passenger from Frankfurt flight.

So far, Mongolia has 993 confirmed cases of coronavirus; 531 of them are locally transmitted.

Furthermore, six Mongolian provinces where the coronavirus infection had initially spread when the fist local transmissions occurred, are now considered to have taken full control of the situation as there had been no new cases in 10-18 days.

As of today, Ulaanbaatar has 206 confirmed cases of coronavirus, there have been 216 in Selenge Province, 45 in Darkhan-Uul Province, 32 in Dornogobi, 25 Orkhon, four in Gobisumber and three in Arkhangai provinces.

Seafarers stuck for months on vessels carrying Australian coal off China’s coast are trapped between authorities who won’t let them unload their cargoes and buyers who won’t let them leave.

Worsening relations between Beijing and Canberra have stranded 74 vessels, about 8.1 million tons of coal, and an estimated 1,480 mariners off Chinese ports, according to an analysis of shipping data by Bloomberg. The original charterer of two of the vessels wants them to sail somewhere else to relieve the exhausted seafarers, but so far the traders who own the cargo won’t agree.

“It’s the end receiver who has not given the green light” for the Jag Anand vessel to sail to another country where it could change crews, said Jan Dieleman, the president of Cargill Inc.’s ocean transportation business. The Minneapolis-based company is the original charterer of that ship and the Navios Coral vessel, which have both been moored off the port of Jingtang since June, waiting to discharge their loads of Australian coal.

The Jag Anand’s crew told port authorities it was ready to unload when it arrived and the holder of the bill of lading has said the ship must discharge its cargo before departing, according to Dieleman. He declined to identify the end receiver of the cargo, but said that if the ship attempted to depart for another country to swap crews without their approval, the vessel could be arrested and seafarers imprisoned.

“We want to get these people not just off the ship, we want to get them home,” said Dieleman.

Tangshan Baichi Trading Co. is the receiver of the coal on the two vessels, although the firm could have subsequently resold the cargoes to other end users, according to a person familiar with the matter who asked not to be identified because the information is private. The company is the region’s biggest coal importer and owns three coal washers, a coking plant and has an investment unit focused on domestic coal and coke futures, according to its website.

Calls to the company’s office in Tangshan city went unanswered. China’s General Administration of Customs didn’t immediately respond to faxed questions.

Covid-19 controls

Some of the stranded mariners are growing desperate. China has halted most crew changes to stop the spread of covid-19, and some of seafarers have worked nearly 20 months without a break, according to the National Union of Seafarers of India.

On the Anastasia, another stranded vessel, four crew members are on suicide watch, according to a report in the Sydney Morning Herald. The crew of the Jag Anand appealed for help in a photo distributed by the National Union of Seafarers of India, holding up hand-written signs with messages like “negotiate with charterer” and “our lives are important than your cargo.”

Relations between Australia and China have steadily deteriorated this year, with Beijing putting tariffs on imports of barley and wine and also informally restricting imports of coal. The state-run newspaper Global Times has reported that the government economic planner had appeared to formalize that ban, allowing power plants to import coal without restriction unless it was from Australia.

Diverting ships to relieve mariners often comes down to costs, according to Carl Schou, chief executive officer of Wilhelmsen Ship Management, which is in charge of operations for three ships that are waiting off Chinese ports. In some cases, ship owners are resistant to divert ships to change exhausted crews.

“Diverting a ship from China to wherever does cost a lot of money and somebody has to pay for that,” he said. “There is a discussion who should pay for that — the owner, the charterer — should it be a split cost? Not many owners are willing to take such a cost right now.”

When asked last month about a ship stranded off of Jingtang, China’s foreign ministry blamed a freight forwarder for refusing to let the vessel depart.

Several vessels stranded for months recently discharged their shipments of Australian coal, according to data intelligence firm Kpler, although its unclear if the deliveries have cleared customs or if the shipments are being held in bonded storage.

Other cargo owners appear to have sold their coal shipments outside China. The Aquaknight and GH Harmony vessels, which waited outside Bao’an Shenzhen and Caofeidian ports since August and October without discharging their shipments, recently signaled they were headed to Vietnam and Japan, according to Kpler.

But shipments of Australian coal continue to move to China. Earlier this month, the Jin Lang vessel departed from the Hay Point terminal in Queensland into the open seas. Its current destination? The port of Zhanjiang in China.

(By Aaron Clark, Kevin Varley and Ann Koh, with assistance from Alfred Cang, Matt Turner, Winnie Zhu and Martin Ritchie)

A new report by Fitch Solutions forecasts global copper mine production to increase by an average annual rate of 3.7% over 2021-2029, with total output rising from 21.5mnt to 27.8mnt over the same period.

Year-on-year, the market analyst sees production of the red metal expanding 6.9% as a result of multiple new projects coming online and low-base effects due to covid-19 lockdowns reducing output in 2020.

Spence Growth Option project is expected to deliver first production between December 2020 and March 2021. The operation is projected to increase payable copper production by 185kt per annum once ramped up.

Fitch’s forecast also takes into consideration the return of most workers to the Escondida mine, although BHP has already said that output will be lower than usual through the 2022 fiscal year as a result of the reduced workforce levels.

“However, the return of workers will boost copper output back into normal range, which the firm is holding at roughly 1,200kt per annum on average,” the report reads. “Furthermore, depending on when the Spence Growth Option project mentioned earlier ultimately begins production and can ramp up to its full run rate, we expect it will also contribute positively to 2022 growth.”

The analyst points out that the copper forecast is also counting on Lundin Mining (TSX: LUG) being able to reach an amicable solution with its Chilean unions by year-end and, thus, not impacting production for 2021.

Lundin projects copper mine production at Candelaria to range between 185kt and 195kt in 2021, which is up from the 142kt produced in 2019 and is slated to be higher than what is produced in 2020.

According to Fitch, growth following 2021 will benefit from the delayed project ramp-ups such as Teck Resources’ Quebrada Blanca Phase 2 project, which is expected to begin production over the second half of 2022.

Project development had been delayed by five-to-six months due to the covid-19 pandemic but has since restarted, and the company now estimates copper production over the first five years will average 286kt per annum.

All of these developments led Fitch to revise up its 2022 and 2023 forecasts to 4% and 3.2% respectively from 2.9% and 1.9% previously.

When it comes to Peru, the world’s no. 2 copper producer, Fitch expects its outlook for copper mine production to bounce back strongly in 2021, growing by 20% y-o-y, as a result of strong low-base effects and new projects coming online.

CHINESE INVESTMENT WILL PLAY AN INCREASINGLY IMPORTANT ROLE IN PERU’S COPPER SECTOR

The Andean country currently has 48 mining projects at different stages of development and another 54 exploration projects.

“Peru is tied for second for the world’s largest copper reserves at 87mnt as of 2019, 10% of known reserves,” the report reads. “We believe Chinese investment will play an increasingly important role in Peru’s copper sector. Miners are seeking to diversify their supply chain to compensate for Chinese domestic consumption being greater than their supply.”

Based on official information, Peru is expected to see $10.2 billion invested in five mining projects over the next decade by Chinese firms.

China and the DRC

Within China, copper production is expected to increase at an average rate of 1.5% per annum over 2021-2029, compared with an average growth rate of 4.6% over the past 10-year period.

The market analyst says that this slowdown in production growth will be driven by closures of low-grade copper mines and delayed planned capacity expansions.

Despite this outlook, domestic copper production is expected to be positive as new projects come online and the Asian country develops foreign assets to improve its resource security.

“Chinese copper miners will remain committed to investing in copper deposits abroad to secure access to high-grade, low-cost material,” Fitch states. “For instance, in October 2019, Zijin Mining announced that it would spend $146 million to increase its interest in Ivanhoe Mining. The purchase will make Zijin the second-largest shareholder in the company developing the Kamoa-Kakula copper mine in the Democratic Republic of the Congo.”

Kamoa-Kakula, on the other hand, is set to be one of the largest contributors to growth within the DRC’s copper sector, whose production is expected to grow 12% y-o-y in 2021, following a 3.5% contraction in 2020.

The prediction is based on the fact that, in August, Ivanhoe Mines (TSX: IVN) reported that the development of the Kakula copper mine had been progressing ahead of schedule, with the firm expecting to achieve first copper concentrate in Q321.

This and other projects, together with steady output from China Moly’s Tenke Fungurume mine and Glencore’s (LON: GLEN) Katanga mine, are the foundations of Fitch’s forecast, which takes into account Glencore’s decision to idle the Mutanda copper-cobalt mine from 2020 to 2022.

New York (CNN Business)What started off as a meme-inspired parody cryptocurrency has now become the center of a series of tweets in a bitcoin sound-off from Elon Musk.

The Tesla (TSLA) CEO tweeted some Bitcoin banter Sunday, included calling bitcoin BS. He shouted out Dogecoin in a tweet saying, "One Word: Doge."

The tweet sent shares of Dogecoin up nearly 20% and landed it on the list of trending Twitter topics. The tech billionaire even went as far as updating his Twitter bio with the title "Former CEO of Dogecoin."

Musk's Twitter antics come as the dominant cryptocurrency surged to all-time highs during the coronavirus pandemic. Last week, bitcoin skyrocketed past the $20,000 mark -- topping $24,000 -- as the currency continues to grow in popularity among investors.

This isn't the first time Musk has tweeted about Dogecoin, the bitcoin descendant. '

The SpaceX CEO mentioned the digital coin in July when he tweeted "It's inevitable" with an image depicting the dogecoin standard engulfing the global financial system. The tweet sent shares up 14% at the time.

Dogecoin was created in 2014 as a parody to a popular internet meme "doge", which involved a picture of a Shiba Inu dog. Although the virtual coin started off as a joke, it currently has a market value of nearly $570 million.

Two students at Liaoning University from Mongolia offered to make a special dish for a doctor in Shenyang who joined the fight against the COVID-19 outbreak in Central China's Hubei province. The food was prepared earlier with mutton donated by the Mongolia government.

"We want to present our highest respect," said Ariunjargal Gerelbat. "A friend in need is a friend indeed. China provides all-round help for my motherland in the battle with virus. Now I would like to express my gratitude with delicious food."

During the epidemic, China deployed supplies to assist the Mongolian government in fighting against the disease. The Mongolian government and people were so grateful that they promised to send sheep to China as a gift. The mutton arrived recently and was distributed to medics and other people working on the front line in the fight against the pandemic.

Ariunjargal Gerelbat and Daramzagd Galbadrakh decided to cook Mongolian-style mutton for Hu Weina, a doctor from the No 4 Affiliated Hospital of China Medical University who joined the fight against COVID-19 in Hubei province.

"The epidemic has been brought under control and life returns to normal thanks to the selfless efforts of many medical workers like Dr Hu. I feel very close to Hu, who I regard as my sister," Daramzagd Galbadrakh said.

In the kitchen of Hu's home, the two students worked with Hu and the aroma of milk tea and stewed mutton filled the room.

Chen Mo contributed to the story.