NEWS - Mining
As the Mongolian economy relies on mining as its main source of revenue, here are all the major news concerning the development of mining in Mongolia as well as news concerning mining companies operating in Mongolia.
Mongolia Growth Group Ltd. Agrees to Sell Shares of Mandal General Insurance to UMC Capital
Posted: May 17, 2012 on: business, Economical, MiningMGG is pleased to announce that it has agreed to and signed a binding term sheet agreeing to sell shares of Mandal General Insurance (MGI) to UMC Capital, the operators of MGI, at a purchase price equivalent to MGG's original funding cost in June of 2011.
Ivanhoe says Mongolian mine on target for production
Posted: May 17, 2012 on: business, International, MiningIvanhoe Mines Ltd. (IVN-T9.070.323.66%) has reported a narrowing of its first-quarter loss as the Vancouver-based miner said its promising Oyu Tolgoi copper-gold project in Mongolia remains on track for commercial production next year.
Chalco Targeted as Mongolia Seeks to Limit State Deals
Posted: May 17, 2012 on: business, Economical, MiningMongolia, the commodity-rich nation that posted the world’s fastest economic growth in 2011, is on course to pass a law by June that will bar foreign state-owned companies from controlling its key assets.
Forest of fossils faces threats from coal mines
Posted: May 15, 2012 on: Environment, General, MiningHad it not been for coal mining, Wang Jun may never have made his most important discovery: a forest buried by a volcanic eruption almost 300 million years ago.
SouthGobi posts profit, says Mongolia mines open
Posted: May 15, 2012 on: Economical, MiningSouthGobi Resources, a coal miner with operations in Mongolia, reported a first-quarter profit on Monday, as its sales nearly doubled and its average selling price rose.
SAIL signs MoU with Mongolia to develop iron ore, coal deposits
Posted: May 11, 2012 on: business, International, Mining, PoliticalSteel Authority of India Ltd (SAIL) plans to develop iron ore and coal mines in Mongolia in collaboration with the local government.
Tax revenue from Mongolia’s mining: US$330 per Mongolian
Posted: May 11, 2012 on: Economical, General, MiningWith a population of 2.8 million people, Mongolia collected US$330 per person from its oil and mining resources, shows the country’s 2010 EITI report that was released on Tuesday 8 May.
Xanadu Mines works to consolidate copper and gold portfolio with Mongolian acquisition
Posted: May 10, 2012 on: business, Economical, MiningXanadu Mines (ASX: XAM) will add the prospective Oyut Ulaan copper-gold project in the South Gobi region of Mongolia to its exploration portfolio with the proposed acquisition of Temujin Mining Corporation’s wholly owned subsidiary Vantage LLC.
Mongolia May Drop Foreign Owners' Cap in Mining
Posted: May 10, 2012 on: business, Economical, MiningThe Mongolian government is set to soften a proposed foreign investment law, which seeks to impose a 49 percent cap on foreign ownership in 'strategic' assets including the country's booming mining sector, industry executives told CNBC.
India to acquire coking coal mine in Mongolia
Posted: May 10, 2012 on: business, International, MiningIn a move to reduce dependence on highly priced Australian coking coal, India will acquire a mine in Mongolia and also set up the first steel plant in the quality coal rich country.
Prophecy Coal’s Ulaan Ovoo mine now the largest supplier of coal to Mongolian power plants
Posted: May 8, 2012 on: MiningCoal miner Prophecy Coal (TSE:PCY) Tuesday announced its Ulaan Ovoo mine has become the largest independent supplier of coal to Mongolian power plants in just over a year.
SouthGobi says unit helping Mongolia anti-graft probe
Posted: May 8, 2012 on: MiningCoal miner SouthGobi Resources Ltd says it is co-operating with Mongolia's anti-corruption agency regarding an investigation into a third party which was likely to blame for a sharp fall in its share price.
Mongolia prepares for boom in commodities
Posted: May 8, 2012 on: business, International, MiningThe London Stock Exchange last week played host to international resources investors clamouring to grab a chunk of the commodity-fuelled economic boom that is sweeping Mongolia.
"MINING MONGOLIA-90" FORUM WILL RUN
Posted: May 8, 2012 on: business, International, MiningWithin the 90th anniversary on establishment of Mongolian mining section, a “Mining Mongolia-90” international forum will take place May 9-10 in Ulaanbaatar.
Mongolia's mine law change unlikely to be retroactive - minister
Posted: May 3, 2012 on: MiningVice finance minister, Chuluun Ganhuyag, says the proposed new law will only apply to investment in certain deposits, but the list will go beyond the country's current list of strategic assets.
Mongolia Wary of Chinese Investment
Posted: May 1, 2012 on: business, MiningFor adventurous frontier investors in Asia, last year was all about Mongolia. Now Myanmar is the darling of 2012, as it slowly opens up to the outside world.
Aspire Mining Limited Boosts Healthcare Services in Northern Mongolia
Posted: April 26, 2012 on: General, MiningMongolian coal explorer Aspire Mining Limited is pleased to advise that it has agreed to assist to fund the completion of construction of a local hospital near to the Company"s Ovoot Coking Coal Project ("Ovoot") in northern Mongolia.
Mongolia: mine ownership gets political
Posted: April 26, 2012 on: Mining, PoliticalA nasty bout of resource nationalism in Central Asia is worrying investors brave enough to invest in frontier markets.
