Recent news
ETT IPO in MarchApril next year: B.Enebish
B.Enebish, Chief Executive Officer of Erdenes Tavan Tolgoi LLC, tells S.Bold-Erdene why the company’s much-anticipated IPO has been delayed and how it may all turn out to be more beneficial.
Strategy on strategic mineral missing
The term “strategically important” in reference to certain mineral deposits has long been used in the laws of both Russia and Mongolia but there is considerable ambiguity in people’s mind about its intention and application.
The amended Law on Environmental Impact Assessment
The Parliament of Mongolia passed on May 17 an amended Law on Environmental Impact Assessment (EIA) that had been submitted to it on December 30, 2011. As every mining activity has some impact on the environment, the new amendments, as well as the untouched provisions of the law, are to be carefully considered by the mining industry.
“Building a mega plant is always a challenge”: Thyssen Krupp
ThyssenKrupp Uhde, a subsidiary of ThyssenKrupp, is one of the world’s leading engineering companies. Uhde is a global leader in CTL technology and is to build a coal-to-liquid plant in cooperation with Industrial Corporation Mongolia LLC. As he answers some questions from MMJ, Claudio Marsico, Director of Sales, ThyssenKrupp, says his company can offer Mongolia much more than the plant whose construction should begin in a month or two.
“Our main advantage is our experience in Mongolia”
The Liebherr Group, comprising more than 120 companies and with 60 years of experience, has been working in Mongolia since 2002, with Monnis as its official distributor. During Future Mongolia, MMJ asked Axel Dolcken, General Manager, Earth Moving & Mining Division,Liebherr Exports, about his company and the partnership in Mongolia.
Mongolia’s Strategic Investment Law – ‘The golden average’ … or not?
Parliamentarians and others who support the new Law on Regulation of Foreign Investment in Business Entities Operating in Sectors of Strategic Importance (Strategic Investment Law) have been quick to say that Mongolia’s new regime to regulate foreign investment is very similar to Australia’s Foreign Investment Review Board (FIRB) regime.
What are shale oil, shale gas and oil shale?
Oil shale is one of the most prolific hydrocarbon resources on earth. Massive deposits are found in a number of countries around the globe, including Australia, Brazil, China, Estonia, Israel, Jordan, and the United States. Preliminary geologic surveys and evidence from oil shale outcrops indicate that Mongolia may also have oil shale resources of a size and quality that are commercially viable.
INVITATION TO SUBMIT NOMINATIONS FOR MINING JOURNAL AWARDS 2012
For the third year in a row, The Mongolian Mining Journal will be honouring the best performers in the mining sector with Mining Journal Awards in the beginning of December.
At a time when, as elsewhere in the world, the mining sector in Mongolia faces challenges and obstacles, the Mongolian Mining Journal finds it all the more important to encourage individuals and organisations that are sustaining the industry and to publicly recognise their achievement.
Aspire’s Ovoot likely to grow into Tier 1 resource
Aspire Mining Ltd. has already defined the second largest coking coal reserve in Mongolia, after TavanTolgoi, and additional coal intersected during drilling outside the existing resource at its Ovoot coking coal project could increase the size. There is still plenty of room for Ovoot to grow into a Tier 1 resource, with only around 20% of the Ovoot Basin explored by Aspire.
Dark cloud from China covers Mongolia
Minister of Finance Ch.Ulaan announced in August that State revenue until then was MNT1.2 trillion less than what had been estimated in the budget.
Mark the figure it is not MNT100 billion, MNT200 billion or even MNT500 billion, but a whopping MNT1.2 trillion. The shortfall has put the Human Development Fund in a critical situation and it is not clear how State-funded construction works will continue. Just before his statement, several coal companies had put exports on hold.
The “Reform” Government’s proposed Action Plan
We give below selected parts of the 2012-2016 Action Plan formulated by the Government and awaiting approval by Parliament.
Every Mongolian to have a job and an income
• Keep inflation in single digit and the purchasing power of the MNT stable.
• Restrict budget deficit to no more than 2% of GDP.
• 80% of imports by sectors other than mining will be exempt from tax.
How depressing is Australia’s official 2013 iron ore and coking coal chart
The commodities outlook of the Bureau of Resources and Energy Economics, the Australian government’s official forecaster, is not nearly as upbeat as many producers’ own predictions. In its latest quarterly overview BREE forecasts that in 2013, the average contract price for FOB Australia iron ore is set to decrease 20% to US$101 a tonne down from an expected average of $126 a tonne this year.
Coking coal market quiet as steelmaker bids stable
The seaborne coking coal market was unchanged Wednesday as several Chinese market participants gave indicative bids at current levels. Platts assessed both premium low-vol and mid-vol hard coking coal with 64% CSR (coke strength after reaction) unchanged at $140.50/mt FOB and $124/mt FOB Australia respectively. Purchasing managers at two large Chinese mills said prices for Australian premium material were exhibiting some signs of stability.
China Iron Ore Price Index Falls For 4 Consecutive Weeks
= Price gap between imported ore (including tax) and domestic ore expands to about RMB 55 =
According to China Iron & Steel Association (CISA), China Iron Ore Price Index (CIOPI, April 1994=100, 62% Fe content) for the second week (10 - 14) of September 2012 turned out to be 358.33 with a decrease by 17.58 points (4.7%) from the previous week, which hit the lowest level since CISA started to announce CIOPI from September 2011 for four consecutive weeks.
China Aug coal imports down on yr for 1st time
China’s coal imports fell for the first time this year in August compared with the year-ago level, as overseas coal is losing its price advantage over domestic supplies following the recent price falls and sluggish demand in China. Coal imports, including lignite, amounted to 20.44 million tonnes in August, slumping 15.8% from the month before, and down 0.7% from one year ago, showed the latest data from the General Administration of Customs.
China’s iron-ore miners cut output as prices fall
A slide in iron-ore prices to three-year lows is forcing many high-cost miners in top consumer China to curb output, industry sources say, in a move that could reduce the surplus in a market weighed down by near record Chinese stocks.China produces about one-billion tons a year of iron ore and buys 60% of the steelmaking raw material traded globally.
Proposal for controlling coal output may hardly turn into reality in China
Fourteen of China’s largest coal groups, including China Shenhua, China coal energy and Shanxi coking coal Group, issued a joint statement on August 30th 2012, proposing that all of China’s coal miners appropriately control production in order to stabilize the domestic market against the lackluster demand. Insiders consider it unlikely for Chinese miners to control their production spontaneously given by the huge cost pressures involved.
Mongolia’s Mining and Mineral Game
Mongolia’s newly elected government is implementing “Resource Nationalism” to restrict foreign investments. Currently China controls 70% of Mongolia’s mining assets and politicians are looking to limit foreign control. Last month, Chalco was forced to give up the acquisition of SouthGobi. Still Chinese control is prominent.