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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.

Coal Mine

Newera Resources finds more shallow coal in Mongoli

Posted: November 1, 2012 on: business, Mining

Newera Resources (ASX: NRU) has concluded maiden drilling at its Shanagan East Coal Project in Mongolia with the most recent holes drilled intersecting shallow coal.

Tavan Tolgoi Mine

Mongolia pulls plan again to triple-list coal mine

Posted: November 1, 2012 on: business, Economical, Mining

Poor prices and demand for its steel-making commodity means Erdenes Tavan Tolgoi will have to wait a year before trying to raise US$3 billion

Tavan Tolgoi Mine, Mongolia

Erdenes-Tavan Tolgoi Says IPO Unlikely Before 3Q

Posted: October 30, 2012 on: business, Economical, Mining

Mongolia-based Erdenes-Tavan Tolgoi Co. said Tuesday the company's planned $3 billion Hong Kong, London and Ulan Bator initial public offering is unlikely to be held before the end of the third quarter because of poor market conditions and weak coal prices.

Kincora Copper Mine Site

Kincora Copper’s more aggressive exploration is ‘very positive step’ – broker

Posted: October 30, 2012 on: Mining

Mongolia-focused Kincora Copper (CVE:KCC) is taking a “very positive step” by using more aggressive geophysical tools, according to broker Ocean Equities.

Copper

Kincora Copper announces C$6 million financing for Bronze Fox

Posted: October 29, 2012 on: business, International, Mining

Vancouver-based Kincora Copper (CVE:KCC) is raising up to C$6 million via a private placing.

Walter Energy

Walter Energy Reveals Q3 Impairment

Posted: October 28, 2012 on: International, Mining

Walter Energy (NYSE:WLT) reports that its third quarter earnings will include a goodwill impairment charge of up to $1.1 billion, resulting from modifications in the world outlook for met coal, along with sluggishness of late in global demand.

Coal Mine

Peabody profit estimates beaten by cost cuts, China coal demand

Posted: October 25, 2012 on: business, Mining

Coal miner Peabody Energy Corp., who was offered a contract to develop Tavan Tolgoi's West Tsankhi, raced past analysts' estimates as cost cuts started to pay off and sales volumes in Australia climbed on a pick-up in demand from China, sending its shares up as much as 14 percent.

Caterpillar

Caterpillar reduced 2012 forecast signals dim outlook for mining firms

Posted: October 25, 2012 on: business, International, Mining

Caterpillar Inc., the heavy machinery brand distributed by Wagner Asia Equipment LLC in Mongolia, slashed its 2012 forecast for the second time this year and warned the global economy was slowing faster than it had expected.

Coal Mine

Peabody expects to resume Mongolia coal mine talks in 2013

Posted: October 25, 2012 on: International, Mining

U.S. coal miner Peabody Energy expects to resume talks in early in 2013 with Mongolia's government over acquiring a stake in the undeveloped western Tsankhi block of Tavan Tolgoi.

Entree Gold project in Mongolia May 2012

Entrée Gold says share price drop tied to political uncertainty in Mongolia

Posted: October 25, 2012 on: business, International, Mining

A recent drop in the share price for Entrée Gold, Inc., has been labeled “disappointing,” but the Canadian mining exploration company working in Mason Valley says it does not feel that decline reflects the underlying value of either of its two main projects, including the Ann Mason Project.

Real Estate Mongolia

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