Thursday, May 27, 2010

BREAKING NEWS: President's proposal to ban license issuance "supported" by MPs

news.mn reports about 25 minutes ago that during today's closed session of parliament, MPs voiced support for the President's decision to temporarily ban license issuance and transfer.

Ministry of Finance made proposal to sack 2071 workplaces.

- 4,520 million MNT will be saved for the budget after this operation.

MP’s Continue to be Stuck on Railway Decision

No agreement on the railway transportation policy is in sight. No decision can be taken on this very important part of the wider minerals policy as MPs continue to be stuck on both the direction of the new network and on the width of the track. Some MPs give their view.

Australia’s Hunnu expands coal business in Mongolia

PERTH (miningweekly.com) – ASX-listed Hunnu Coal has acquired a 90% interest in the Tsant Uul coal project, in Mongolia, as part of its strategy to become a major coal developer in the South Gobi province.

FRONTIERS-Doing business in Mongolia a tightrope walk

(Reuters journalists have produced a special multimedia package on frontier markets including stories, video reports, pictures, research and graphics. To see the full package click here)
* Mongolia resource bonanza at risk from geopolitics
* Russia, China vie for dominance in landlocked nation

Premier Wen's Asia tour to boost cooperation, says vice FM

BEIJING, May 26 (Xinhua) -- China will strengthen cooperation with the Republic of Korea (ROK), Japan, Mongolia and Myanmar through Premier Wen Jiabao's four-nation tour from May 28 to June 3, a senior Chinese official said Wednesday.

Wednesday, May 26, 2010

Mongolia - 9% Growth In 2010, Downside Risks

BMI View: We hold to our forecast for the Mongolian economy to grow by 9.0% this year, on the back of strong capital inflows and relatively robust external demand. That said, we note that a crisis in the agricultural sector will remain a downside risk to our forecast. In addition, in line with our global macro strategy we believe that external (specifically Chinese) demand will cool in H210 and into next year, leading to a slowdown in growth, although we remain extremely bullish through the medium term.

Polo Resources to sell its 50 per cent interest in Mongolian joint venture

TORONTO - Polo Resources Ltd. (TSX:POL) says it will sell its 50 per cent interest in a joint venture company, receiving about US$35 million plus royalties for its Mongolian coal and uranium assets.

Prophecy Secures Rail Loading Facilities to Transport Over 1.5 Million Tonnes Per Year of Mongolian Coal to Russia & China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2010) - Prophecy Resource Corp. (the "Company") (TSX VENTURE:PCY)(OTCBB:PCYRF)(FRANKFURT:1P2) reports it has signed an agreement securing the loading of and the capacity to transport 1.5 million tonnes of coal annually through Mongolia's Sukhbaatar Railroad Station (Trans-Mongolian Railway) with the option to increase capacity based on availability.

Tuesday, May 25, 2010

Ivanhoe points Rudd to Mongolia mine tax

The Rudd government should take heed of Mongolia's failed attempt to impose a hefty windfall profits tax on mining companies, Ivanhoe Australia Ltd says.

Chinese agricultural experts give assistance to Mongolia

Fourteen agricultural experts from Inner Mongolia selected by the Ministry of Agriculture recently left for Mongolia to participate in the two-year China—Mongolia "South-South Cooperation" Project, providing technological aid.

Micromine gains feasibility standard certification for mineral projects in Mongolia

Micromine, a mining and exploration software solution provider, has been certified by the Mongolian Government as a company authorised to conduct feasibility standard studies in the country. This allows the company to complete any geology, resources, mining and other related sections of studies that are submitted to the government for permitting and commissioning of mineral projects in Mongolia.

Oyu Tolgoi copper-gold project - primary financing advances

The EBRD and the IFC have signed a joint mandate letter with Ivanhoe Mines to advance primary financing for the Oyu Tolgoi project in Mongolia. 

Tavan Tolgoi Investment Agreement will be discussed on Wednesday

The National Security Council made its comment on Tavan Tolgoi Investment Agreement. Therefore, on Wednesday, the Cabinet Ministers’ Meeting will discuss the issue on Tavan Tolgoi and plans to present the draft agreement to the State Great Khural. As for Tavan Tolgoi project, there are over 10 bidders expressed their interests. Also, Mongol 999 Consortium, a consortium of the Mongolian companies, expressed its interest.

1.4 trillion MNT (US$1 billion) will be used for “Mongol Livestock” program


Last week, the State Great Khural adopted “Mongol Livestock” Program. The program has two phases in 2010 – 2021. MP Ts.Sedvaanchig has more.

Development Council of the Southern Gobi is established

The irregular Meeting of Cabinet Ministers was held last Friday and discussed the issue of establishing the Development Council of the Southern Gobi. The Council will be established based on the Government Resolution 57 of 2009, Article 4.1 of Investment Agreement, signed between the Government of Mongolia and IMMI, Ivanhoe Mines Limited, Rio Tinto International Holdings limited companies.

Cabinet Meeting will be held in Umnugobi Aimag

Desertification is serious issue in Mongolia and World Day to fight Desertification is approaching.

MPs consider new legal status for Ulaanbaatar

Parliament discussed on Friday revising the legal status of Ulaanbaatar, following the big rise in its population in recent years. Migration from rural areas has, according to M.Enkhbold who proposed the draft amendments, has increased the population of the capital city by 471,500. It is now one of the 477 cities in the world with more than one million people. It also has 50 percent of the total Mongolian population and 70 percent of the country’s urban population.

MONGOLIA – Shivee West exploration

Entree Gold is set to begin first phase exploration of the Shivee West copper-gold-molybdenum prospect in southern Mongolia.

Kashgar economic zone, putting Xinjiang a forward position of energy geopolitics

Summary

China declared at a high-profile summit the establishment of Kashgar Special Economic Zone in Xinjiang Uighur Autonomous Region, introducing preferential investment and taxation policies favorable to local governments and players.

Manas Petroleum Corp. (MNAP.OB) Posts Q1 Results

QualityStocks would like to highlight Manas Petroleum Corp. (OTCBB: MNAP). Manas Petroleum is an international oil and gas company with primary focus on exploration and development in south-eastern Europe, Central Asia and South America.

Rio runs with risk

May 24, 2010 (The Age - ABIX via COMTEX) -- Opposition by the mining sector is growing to the Australian Government's proposed new 40% resources rent tax in response to the Henry taxation system review.

Khan Resources Admits CNNC Decision

In the recent development around resource “war” on Mongolia’s uranium district, Canadian Khan Resources, which holds interests in main uranium properties in the eastern part of the country, announced on May 21 that CNNC Overseas Uranium Holding has failed to obtain an approval for its offer to acquire all of the common shares of Khan at C$0.96 in cash per share.

Mongolia for deepening economic ties with India

Moscow, May 24 (PTI) Mongolian President Tsakhia Elbegdorj today underlined the need to deepen economic cooperation with India, with which the Central Asian nation has "age-old Buddhist ties".

Mongolia to host annual meeting of APPF

The 19th Annual Meeting of the Asia-Pacific Parliamentary Forum (APPF) will be held in Mongolia in January 2011.

Mongolia: Brewer Receives USD25 mln Loan to Diversify its Beer Business

May 24 - The EBRD is providing $25 million loan to APU, a private brewery operating in Mongolia, to support company's drive to expand production capacity and diversify its product range.

Monday, May 24, 2010

Hunnu Coal in trading halt

May 24, 2010 - 2:29PM
 
Hunnu Coal Ltd was placed in a trading halt on Monday, pending an announcement by the company.

State Investment has increased 7 times

“General Guideline to Register State Investment”, developed by the National Development and Innovation Committee, was approved by the resolution of the Government. Within the framework, the General Manager of the State Budget ordered to submit the report of investment, prioritized by their importance based on the project research and feasibility, to the National Development and Innovation Committee by February 5 every year.

Mongolia’s 2010 State Budget and Talks of Revision Amid Inflation Concerns

Sensitive financial issues were discussed at a “secret” meeting on Monday attended by members of the Standing Committee on the Economy, and representatives of the International Monetary Fund, the MongolBank, and the National Statistics Office. They talked mainly about the budget deficit and the threat of inflation.

Polo sells its interest in Peabody Polo resources to Winsway

24 May 2010

Polo Resources Limited

("Polo" or the "Company")

Governor of Russia's Sverdlovsk visiting Mongolia

Posted 07:53 AM ET

[By B. Huder] Ulaanbaatar, May 23, 2010 (BBC Monitoring via COMTEX) -- Governor of Russia's Sverdlovsk Oblast Mr Aleksandr Misharin arrived Sunday [23 May] in Mongolia to pay a visit at invitation of N. Altanhuyag, the first deputy premier and head of the Mongolia-Russia Inter-Governmental Commission. The official visit of the governor will start on Monday.

Erdene Announces Highlights of AGM

HALIFAX, NOVA SCOTIA, May 21, 2010 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. /quotes/comstock/11t!erd (CA:ERD 0.41, +0.03, +6.49%) ("Erdene" or "Corporation"), a diversified minerals company with assets in Canada, the United States and Mongolia, commented on the results of its Annual General Meeting of Shareholders, held on May 20, 2010. The meeting and subsequent presentation is available on Erdene's website at www.erdene.com.

RPT-UPDATE 1-Ivanhoe takes steps on Mongolia mine financing

(Repeats to widen distribution)

* EBRD, IFC consider financing Mongolian copper-gold mine

* EBRD, IFC may provide up to $300 mln each

Friday, May 21, 2010

Mongolian visa

Any foreign visitor wishing to enter Mongolia must have a valid passport and visa.

MNT 300,000 for every herder family with total loss of livestock

Deputy Prime Minister and Chairman of the National Emergency Commission M.Enkhbold has revealed how the MNT 3.4 billion (approximately USD2.5 million) given by the Asian Development Bank (ADB) for dzud relief will be used.

Ivanhoe Energy appoints Carlos A. Cabrera and Alex Molyneux to Board of Directors

CALGARY, May 20 /PRNewswire-FirstCall/ - Ivanhoe Energy Inc.'s (TSX: IE, NASDAQ: IVAN) Board of Directors announced today that Carlos A. Cabrera and Alex Molyneux have been appointed to Ivanhoe Energy's Board of Directors.

Garrison Announces Approval of Social Impact Study of Tovshiir Gold Project

TORONTO, ONTARIO, May 20, 2010 (MARKETWIRE via COMTEX) -- Garrison International Ltd. /quotes/comstock/11v!gau (CA:GAU 0.06, -0.02, -20.00%) ("Garrison") is pleased to announce that the Mongolian Government has formally approved the Social Impact Study of the Tovshiir Gold Project prepared and submitted by Garrison.

Thursday, May 20, 2010

UPDATE 1-Wide interest in Ivanhoe project stake-exec

* Major mining groups interested in Oyu Tolgoi in Mongolia
* Ivanhoe natural seller since it mainly exploration firm
* Would respect wishes of partner Rio Tinto

PM wants outsiders on boards of State companies

Prime Minister S.Batbold instructed State Property Committee chief D.Sugar on Tuesday to include representatives of civil organizations, professional associations, academics and researchers on the board of directors of state owned organizations and companies.

Fresh thoughts likely on revised budget

Sensitive financial issues were discussed at a “secret” meeting on Monday attended by members of the Standing Committee on the Economy, and representatives of the International Monetary Fund, the MongolBank, and the National Statistics Office. They talked mainly about the budget deficit and the threat of inflation. 

Senior CPC Official Vows to Enhance Exchange with Mongolia's Democratic Party

2010-05-19 20:32:07     Xinhua      Web Editor: Han Yueling 

Wang Gang, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, on Wednesday pledged to enhance exchange and cooperation with the Mongolian Democratic Party (MDP).

Ivanhoe Says $4.6 Billion Project May Get New Partner (Update1)

May 19, 2010, 11:22 AM EDT
(Updates with chairman’s comments from second paragraph.)
By Jesse Riseborough
May 19 (Bloomberg) -- Ivanhoe Mines Ltd., building a $4.6 billion copper and gold mine in Mongolia with Rio Tinto Group, said it may bring in another partner after receiving interest in the Oyu Tolgoi project.

Tuesday, May 18, 2010

Rio Tinto Copper CEO: Tight Supply Situation Over Next Decade

LONDON -(Dow Jones)- The medium- to long-term outlook for copper is positive with a tight supply situation expected over the next decade, the head Rio Tinto's copper division said Monday.

SouthGobi Suspends Mongolia Mine Rail-Link Plan

(Update1)
2010-05-18 03:27:00.825 GMT

    (Updates with CEO comment in fourth paragraph.)

By John Duce
    May 18 (Bloomberg) -- SouthGobi Resources Ltd., the coal miner backed by China’s sovereign wealth fund, halted plans to build a rail link between its pit in southern Mongolia and the Chinese border because of uncertainty over government policy.

Government clears through to establish “Sainshand” Industrial Complex



The Cabinet Meeting was held last Wednesday to start building Industrial Complex area at Sainshand and intensify its activities.

Draft on development bank completed

The working group established by the Government to prepare a draft plan to set up a development bank has finished its work. The draft was presented to the Government earlier last week.

Monday, May 17, 2010

Discover Mongolia 2010 to Take Place on September 8-10, 2010

The Organizing Committee of Discover Mongolia is pleased to announce that the 8th annual International Mining Investors Forum shall take place in Ulaanbaatar, Mongolia, on September 8-10, 2010.

Chinese agricultural experts give assistance to Mongolia

Fourteen agricultural experts from Inner Mongolia selected by the Ministry of Agriculture recently left for Mongolia to participate in the two-year China—Mongolia "South-South Cooperation" Project, providing technological aid.

Voyager Resources kicks off drilling at Daltiin Ovor gold project

Voyager Resources (ASX: VOR) has reported that Reverse Circulation (RC) drilling has commenced at its high grade Daltiin Ovor Gold Project in Mongolia.

Itochu Targets Mongolian Coal to Expand Trade as Prices Surge

May 17, 2010, 12:37 AM EDT
By Masumi Suga and Ichiro Suzuki
May 17 (Bloomberg) -- Itochu Corp., Japan’s fourth-largest trading company, invested in Winsway Coking Coal Holdings Ltd. to secure coal from Mongolia, stepping up competition with China and Russia for the steelmaking ingredient as prices jump.

Czech PM to visit Mongolia

English.news.cn   2010-05-17 16:18:18
ULAN BATOR, May 17 (Xinhua) -- Czech Prime Minister Jan Fischer will pay an official visit to Mongolia on Wednesday and Thursday, the government of Mongolia said Monday.

Friday, May 14, 2010

Listing rules cloud HK's mining IPO hopes

(Reuters) - Hong Kong's ambition to turn its stock exchange into a major destination for mining IPOs may be a slow burn given its existing ban on pure exploration companies and the bourse's fuzzy record on disclosure.

Thursday, May 13, 2010

Management of MSE Will Be Contracted by Competitive Selection

According to Media Office of the Government on May 12,2010 regular Cabinet meeting today discussed and made following decision.

Mongolia ready to be with J&K in several sectors

Peerzada Ashiq, Hindustan Times
Srinagar, May 12, 2010

Mongolia has expressed interest in collaborating with Jammu and Kashmir in the in the fields of tourism, education and culture.

Wednesday, May 12, 2010

President Ts.Elbegdorj’s visit to US postponed

President Elbegdorj’s visit to the US in mid-May has been postponed because of scheduling difficulties at the White House.

Free trade pact with Mongolia on the cards

China has initiated feasibility studies for a free trade agreement (FTA) with Mongolia to further strengthen bilateral trade ties between the two nations, a top official from the Ministry of Commerce said on Tuesday.

Tuesday, May 11, 2010

China, Mongolia pledge to work together to fight corruption

He Yong (R), Deputy Secretary of the Communist Party of China (CPC)'s Central Commission for Discipline Inspection, shakes hands with Mongolian People's Revolutionary Party General Control Committee Chairman L. Dondog during their meeting in Beijing, capital of China, May 10, 2010. (Xinhua/Li Tao)

Monday, May 10, 2010

Some issues undecided for new railway


Critical decisions are under consideration for rail transportation to strategic deposits
It has become necessary to develop a new railway for transporting mining products, extracted from strategic minerals deposits in Mongolia, to refineries.

Friday, May 7, 2010

East Asia Minerals Appoints Edward C. Rochette as Director

VANCOUVER, BRITISH COLUMBIA, May 06, 2010 (MARKETWIRE via COMTEX) -- East Asia Minerals Corporation /quotes/comstock/11v!e:eas (CA:EAS 7.55, -0.29, -3.70%) is pleased to announce the appointment of Mr. Edward C. Rochette to the Company's Board of Directors. Mr. Rochette is a lawyer, and an internationally known negotiator and transaction specialist with 30 years of experience in the acquisition of mining rights, international business, land management and natural resource transactions.
The Board of Directors and Management Team welcome Mr. Rochette to the Board of East Asia Minerals as it moves into its next stage of growth. Mr. Rochette's extensive and expert background further adds to the depth of the Board and in particular adds important strength to the international and law component of the Board.

Thursday, May 6, 2010

ING Appoints Investment Banking Head For Mongolia - Memo

HONG KONG (Dow Jones)--ING Groep NV (ING) has appointed a head of corporate and investment banking for Mongolia, the company said in an internal memo seen by Dow Jones Newswires, possibly becoming the first major bank to create such a post dedicated to Mongolia.

Wednesday, May 5, 2010

FACTBOX-Key political risks to watch in Mongolia

By David Stanway

BEIJING, May 3 - Landlocked Mongolia sits on vast quantities of untapped mineral wealth and analysts say it could be one of the fastest growing economies of the next decade, as well as a key investment target for global mining giants.

Mongolia may decide soon on uranium joint venture with Russia

The government of Mongolia could soon decide on establishing a joint venture with Russia to develop a Mongolian uranium deposit, the head of the Russian civilian nuclear power corporation, Rosatom, said on Tuesday.

Tuesday, May 4, 2010

Mongolian Top-100 enterprises 2009


                                                
   TOP 100 companies 2009

Khan Resources: Center of Russian-Chinese Resource War in Mongolia

By Melissa Pistilli—Exclusive to Uranium Investing News
Mongolian President Tsakhia Elbegdorj finished off a nearly week-long state visit to China Monday and the question on the minds of some in the uranium market is whether or not the battle over Mongolia’s Dornod uranium deposit was discussed between the two nation’s heads of state.

Monday, May 3, 2010

Best countries for junior gold explorers

By Adam Hamilton & Scott Wright 03.05.2010
Since most countries accurately report mine output, and several agencies catalog this information, we know where in the world gold is being produced.  But where in the world are the juniors exploring for gold?  Are they spinning their drills proportionate in geography to where the miners are operating?  I hear questions like this all the time, but unfortunately there is no collective means of knowing where the juniors are concentrating their efforts.