Recent news
Coal is pass let us look for gas from it
Our future depends upon our mastery of technology. Japan and South Korea prosper by the power of their technology and German technology has become synonymous with the nation itself. In the world today a country cannot expect to develop without access to and use ofadvanced technology. Apart from the other captivating features of technology, its application has a special economic importance for Mongolia.
New railway move ensures TT will not be derailed
Work on the Tavan Tolgoi project continues to progress, belying talk that it is in limbo, and despite efforts by vested interests since 2008 to halt it through trying to take control of the whole railway construction work.
Power problem could delay OT progress
OyuTolgoi looms as one of Rio Tinto’s most exciting growth projects on the back of the company’s recent takeover of the project’s majority owner Ivanhoe Mines, but difficulties in delivering power to the mine’s remote location are continuing to fester, with Ivanhoe confirming that a deal to import power from China had still not been reached.
Centerra Gold violated laws, NGOs tell Canadian Govt
A consortium of Canadian and Mongolian organisations has filed a complaint with the Canadian government over apparent violations of Mongolian law and international corporate responsibility guidelines by Centerra Gold Inc. in its Mongolian operations.
Chalco to buy up to 60% of SouthGobiin $926- million deal
Chinese aluminium giant Chalcohas agreed to pay $926 million for a controlling stake in SouthGobi Resources in a deal with Robert Friedland’s Ivanhoe Resources.Ivanhoe said a sell-down would free up capital that could be invested in the OyuTolgoi mine.Under the deal, state-owned Chalco plans to buy up to a 60 percent stake in SouthGobi for C$8.48 per share.
Haranga Resources defines maiden JORC Iron Ore Resource at Selenge
Haranga Resources has defined a maiden JORC Resource for the Selenge Iron Ore Project.
The JORC Inferred Resource is based at the Bayantsogt prospect, one of four primary exploration targets at Selenge. It comprises 32.8 million tonnes of iron ore at an average grade of 24.4% iron, based on a 15% iron cut-off grade. Mineralisation remains open in all directions and at depth.
Hunnu’s coal reserves in Mongolia total 766 million tons
Hunnu Coal Ltd. has posted a JORC compliant resource of 676 million tons at its UnstKhudag mine, located 360 km from Ulaanbaatar. The mine has a confirmed resource of 541 million tons and 60 million tons of inferred resources.
“My personal wish is to have people’s capitalism”
In this informal and wide ranging conversation with L.Bolormaa, Minister of Mineral Resources and Energy D.Zorigt looks back at his years in office, marked by a shift in the popular perception of mining.
Is Mongolia ready to join the shale oil bandwagon?
Expectations of reduced energy dependence were raised when Mineral Resources and EnergyMinisterD.Zorigt declared at the Economic Forum that once “some important agreements” were out of the way, the Government wouldpay serious attention to developing the country’s shale oil resources.
MRAM approves Sharyn Gol’s revised reserve in coal project
Sharyn Gol JSC has announced that the Mineral Resources Authority of Mongolia (MRAM) has approved a newly revised mineral reserve of 146.3 million tonnes at its flagship thermal coal project in northern Mongolia. The reserve is fully compliant with the Mongolian Mineral Reserve Reporting Standard and registered with the Mongolian Mineral Reserve Fund.
China raises resource tax rates
China has raised from February 1 its resource tax on iron, tin, molybdenum, magnesium, talc, and boron in a move aimed at conserving resources and curbing pollution.
Major iron-ore miners studying China’s trading platform
The world’s top three iron-ore producers are in talks to join China’s first physical iron-ore trading platform, an official from the China Iron and Steel Association (CISA) has said. “The three major miners are active and in talks with us,” Wang Xiaoqi, vice-chairman of the association, told reporters, referring to Brazilian miner Vale, Australia’s BHP Billiton and Rio Tinto .
Minmetals on the prowl
China’s Minmetals Resources is looking for more acquisitions after sealing the $1.3-billion takeover of Africa-focused Anvil Mining, CEAndrew Michelmore has said. The company will continue looking for copper, zinc and nickel sulphide assets in Africa, North and South America, parts of Asia as well as Australia, he said, after failing in a $6.5-billion bid for Equinox Minerals last year.
Yanzhou Coal gets a breather in Australian takeover bid
China’s Yanzhou Coal Mining has crossed a key hurdle in the takeover of Australia’s Gloucester Coal and got an additional 12-month lifeline to bring down its stake in its Australian unit to less than 70%. Australian federal treasurerWayne Swan approved the deal between Yanzhou’s unit Yancoal and Gloucester Coal with some conditions and cited global market volatility as the reason for giving the Chinese more time to cut its stake.
RUSAL sees more aluminium cuts in 2012
Top aluminium producer RUSAL Plc has said that it expects more companies to cut aluminium output this year, with China accounting for about a third of global cuts, but still forecast that global output would top demand.
Venezuela picks Chinese company to develop gold project
Venezuela will develop its huge Las Cristinas gold project in partnership with Chinese state investment company CITIC. The Government last year cancelled Canadian company Crystallex International’s permit to develop the long-troubled mine project south of the Orinoco river.