Ulaanbaatar, Mongolia, /MONTSAME/ "Benefits of the Investment Agreement include more than 50 per cent of cash flow to Government of Mongolia," said the Oyu Tolgoi CEO Cameron McRae in his statement made September 19. He highlighted the benefits of the Investment Agreement that governs Oyu Tolgoi, pointing out that the Government of Mongolia will receive more than 50 per cent of all cash generated by the business over the lifetime of the project.
21 Sep 2011
17 Sep 2011
By David Stanway
ULAN BATOR (Reuters) - Foreign investors in mineral-rich Mongolia hope parliament will revoke a controversial law banning mining in the country's river and forest areas when it convenes for its busy autumn session next month.
The ban, imposed in 2009, has been derided as "half-baked" and "knee-jerk" by representatives of foreign mining investors in Ulan Bator. While dozens of projects have been shut down, hundreds more remain in operation, but in a state of legal limbo.
16 Sep 2011
Prophecy Coal (CVE:PCY) announced Thursday that the Mongolian Ministry of Natural Resources and Energy has officially endorsed its proposed Chandgana Power Plant project.
Last August, the company, which is focused on energy, nickel and platinum group metals projects, appointed local Mongolian consultants to initiate feasibility and other studies on the planned 600MW Chandgana mine power plant, as Prophecy holds the Chandgana coal deposit in central Mongolia.
12 Sep 2011
by Peter Epstein
The emerging coking coal exporting countries of Mozambique and Mongolia will increasingly be key drivers of supply. As was stated in the opening paragraph, some companies have already set down roots in these two frontier countries. However, Teck remains 100% exposed to Canada. Don't get me wrong, their Canadian coal operations are very good, but having all of one's eggs in one basket is risky. Seeing as there are already two dominant emerging coking coal players in Mozambique, Rio Tinto and Vale (VALE), Teck would have a hard time establishing a foothold in that country. However, in Mongolia one of the two dominant coal producers is a prime takeout candidate for a company like Teck. That company is named SouthGobi Resources (SGQRF.PK).
11 Sep 2011
Banpu Plc, Thailand’s biggest coal producer, agreed to buy the shares it doesn’t already own in Hunnu Coal Ltd. (HUN), valuing the Australian explorer seeking to develop mines in Mongolia at A$477 million ($493 million).
Banpu, which owns about 12 percent of Hunnu Coal, is offering A$1.80 cash for each share, the Bangkok-based company said today in a statement. That’s 30 percent more than the Sept. 8 close of the Perth-based company, whose board today unanimously recommended the bid.
2 Sep 2011
Espoo, Finland – Outotec has agreed on collaboration with the Ministry of Minerals Resources and Energy of Mongolia (MME) during the visit of Ms. Tarja Halonen, President of the Republic of Finland, to Mongolia today. According to the agreement, Outotec supports MME as a technical advisor to develop mining and metallurgical processing of Mongolian mineral resources in the most sustainable way.