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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.

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.

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.

Kincora Copper intersects gold at Bronze Fox

Posted: August 9, 2012 on: Mining

Kincora Copper (CVE:KCC) disclosed partial assay results from the West Kasulu zone at Bronze Fox as well as Tourmaline Hills in southwest Mongolia.

Petro Matad bolsters future work with new exploration manager

Posted: August 8, 2012 on: Mining

Mongolia focused oil firm Petro Matad has bolstered its planned work programmes by hiring an experienced exploration manager.

Coal to Drop as Steel Output Slows in BHP Setback: Commodities

Posted: August 8, 2012 on: business, Economical, Mining

Aug. 8 (Bloomberg) -- Coal used to make steel is set to drop to the lowest price in two years, eroding earnings at BHP Billiton Ltd. and Rio Tinto Group, as European demand wanes and China shifts supply contracts to Mongolia from Australia.

Local graduate heading to Mongolia

Posted: August 8, 2012 on: General, Mining

Today, former Durango High School student Lucas Beard, son of Kim Eisner and Dana Beard, will move to Mongolia on a coveted yearlong Fulbright scholarship to study Chinese immigrants working in mines.

Erdene Finalizes Agreement to Separate Donkin Coal and Mongolian Minerals Exploration Projects into Separate Public Companies

Posted: August 8, 2012 on: business, Mining

Erdene Resource Development Corp. ("Erdene" or the "Company") CA:ERD +4.55% is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with Advanced Primary Minerals Corporation ("APM") 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. The transaction is being completed by way of a court-approved plan of arrangement (the "Arrangement").

Prophecy Coal debuts power division to focus on power sector in Mongolia

Posted: August 7, 2012 on: business, Mining

Prophecy Coal Corp. (CVE:PCY) Tuesday unveiled its power division named Prophecy Power, a unit to focus on the power sector in Mongolia

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