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NEWS - business

All the latest business news concerning Mongolia. News that is shaping the future of the country and its private sector.

Oyu Tolgoi Mine

Mongolia mining minister seeks bigger Oyu Tolgoi stake: report

Posted: August 24, 2012 on: business, Economical, Mining, Political

Mongolia should seek to raise its stake in the giant Oyu Tolgoi copper and gold project, the country's new mining minister said, adding weight to concerns among foreign investors about rising resource nationalism following a June election.

Aspire Mining’s drilling unearths more coal beyond Ovoot Coking Coal Resource

Posted: August 21, 2012 on: business, Mining

Aspire Mining (ASX: AKM) has already defined the second largest coking coal Reserve in Mongolia, intersecting coal during drilling outside the existing Resource at its Ovoot Coking Coal Project in Mongolia could increase the size.

SouthGobi Resources profit spirals as licensing uncertainties remain

Posted: August 13, 2012 on: business, Economical, Mining

Mongolia-focused coal miner SouthGobi Resources recorded spiralling profit during the second quarter, after the Mongolian government suspended its mining licence following an April takeover bid by Chinese aluminium firm Chalco.

Ivanhoe Mines starts trading as Turquoise Hill

Posted: August 12, 2012 on: business, Mining

The company formerly known as Ivanhoe Mines Ltd has started trading on the Toronto Stock Exchange under its new name and ticker symbol: Turquoise Hill Resources Ltd.

Kincora intersects copper and gold mineralization in Mongolia

Posted: August 12, 2012 on: business, Mining

Kincora Copper has announced the partial results of the qualitative and quantitative analysis from the Hole BF62 located in the West Kasulu zone at Bronze Fox and from the license Tourmaline Hills in Southwest Mongolia.

Mongolian Mining Cuts 2013-14 Coal Output Target

Posted: August 12, 2012 on: business, Mining

Mongolian Mining Corp. (0975.HK), Mongolia"s top coal producer by volume, has cut its 2013-14 overall output target by over 13% due coking and thermal coal price differentials, logistical issues and weaker demand, Chief Executive Battsengel Gotov told Dow Jones Newswires.

Capital city – a development hobble

Posted: August 12, 2012 on: business, Economical, General

You can consider yourself lucky if you spend no more than an hour to go three kilometers from the Three Dogs circle to the west junction of Narantuul market. Also, it takes two hours to go the same distance from the Officer’s Palace to the Eastern Crossroads junction.

Mongolia gets new PM, ends weeks of uncertainty

Posted: August 12, 2012 on: business, Mining, Political

Norov Altanhuyag of the Democratic Party (DP) was confirmed as Mongolia’s new prime minister on Friday, ending weeks of political uncertainty after the party failed to win enough seats in a June election to form a government on its own.

Erdene inks pact with APM to separate Donkin Coal project in Mongolia

Posted: August 9, 2012 on: business, Mining

Erdene Resource Development Corp announced that it has entered into a definitive agreement with Advanced Primary Minerals Corporation to exchange all of Erdene's North American property interests, comprised primarily of Erdene's interest in the Donkin Coal Project in Cape Breton, Nova Scotia, for shares of APM.

Prophecy Coal suspends mining at Mongolia operation

Posted: August 9, 2012 on: business, Mining

Canada-based company Prophecy Coal on Thursday said it had temporarily suspended mining since July at its Ulaan Ovoo coal mine, in Mongolia,owing to its 187 000 t stockpile being enough to meet contractual obligations to the end of the year.

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