Wednesday, June 30, 2010

World Economic Forum shines spotlight on fair mineral development in Mongolia

Fair mineral development in Mongolia was the issue the World Economic Forum drew almost 100 business, government and civil society leaders together in June to tackle. The Mongolian Presidency, which has just finalized an agreement to start operations on one of the world's richest iron ore and copper deposits which is expected to contribute significantly to its GDP, co-hosted the roundtable in Ulaanbaatar.

Mongolian President Receives Vietnamese Ambassador

Mongolia attaches great importance to developing ties with Vietnam – an important partner in Southeast Asia, says Mongolian President Ts.Elbegdorj.

Sokrat: LTPL intends to supply Mongolia with 13-15 locomotives

Luhanskteplovoz [LTPL UZ, BUY], the leading Ukrainian locomotives producer, intends to sign a contract with the help of Transmashholding (LTPL’s owner) with Mongolian Railways for the delivery of 13-15 locomotives between now and 2011, said LTPL’s CEO, Mr. Bykadorov. He also added that the company is in negotiations with Syria regarding the modernization of locomotives and the delivery of new equipment.

Mongolia Plans Six IPOs in Hong Kong, Country Head for EBRD Says

June 29 (Bloomberg) -- Mongolia plans six initial public offerings in Hong Kong, the head of the European Bank for Reconstruction and Development in Mongolia, Philip ter Woort, said in Moscow.

Mongolia, Saudi Arabia to boost mining cooperation

ULAN BATOR, Jun 29, 2010 (Xinhua via COMTEX) -- Mongolia and Saudi Arabia on Tuesday pledged to step up their cooperation in the mining and minerals sectors.

Rio Tinto upping stake in Ivanhoe; ensures funding for Mongolian copper project

LONDON, England - Rio Tinto (NYSE:RTP) said Tuesday that it is increasing its stake in Ivanhoe Mines Ltd. (TSX:IVN) by 7.3 per cent to almost 30 per cent as Ivanhoe continues to develop its Oyu Tolgoi copper-gold project in Mongolia.

Ivanhoe Mines Announces Early Exercise of Warrants by Rio Tinto

Purchase of Shares Worth US$393 Million Increases Rio Tinto Ownership in Ivanhoe Mines to 29.6% Funds to Be Used to Advance Construction of the Oyu Tolgoi Copper-Gold Mining Complex in Mongolia.

Tuesday, June 29, 2010

Mongolia’s Economic Outlook 2010

Mongolia’s economy started to recover as global commodity prices picked up and the government adopted an extensive policy reform program, stated Asian Development Bank’s (ADB) recent report on the country’s economic outlook. Following is an excerpt of the report.

Race for Mongolia’s Coal Resource

Local Mongolian business communities and non-profit organizations lately tend to pressure more on the government to support Mongol-999 Joint Stock Company, a national consortium that joined around 2,000 private businesses in a hope to win Tavan Tolgoi project.

Mongolia seeks increased links with India in IT, mining

Mongolia Monday said it was looking for increased trade and commerce with India in the fields of mining and information technology.

SouthGobi Resources Commences Construction of Coal-Handling Facility at Its Ovoot Tolgoi Mine in Southern Mongolia

HONG KONG, CHINA, Jun 28, 2010 (MARKETWIRE via COMTEX) -- Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. /quotes/comstock/11t!e:sgq (CA:SGQ 12.71, +0.21, +1.68%) (SEHK: 1878), announced today that the company has commenced construction of a coal-handling facility ("CHF") at its producing Ovoot Tolgoi coal mine in southern Mongolia.

Monday, June 28, 2010

New maternity hospital planned

Mothers are hopeful to give birth in a more secure and comfortable environment. Government head and Health Minister promised that a new maternity hospital would be built and current maternity hospitals will be modified by next year. After seeing the maintenance work and activity of Maternity Hospital #1 on June 18, Prime Minister S. Batbold said, “I met mothers and they are satisfied. It is the start of our works to be implemented for the health of mothers and infants.

Origo Takes Stake In Mongolian Miners

Investment firm Origo Partners has stepped up its presence in Mongolia by putting money into two exploration companies based in the region.

Celebrations to mark 60th anniversary of establishing Polish-Mongolian diplomatic ties

Celebrations commemorating the 60th anniversary of establishing diplomatic relations between Poland and Mongolia will be held on June 28th 2010 in Warsaw. The celebrations will be hosted by Foreign Minister Radosław Sikorski and Ambassador of Mongolia to Poland Otgon Dambiinyam.

Mongolian president asserts need to strengthen relations with Vietnam

Hanoi (VNA) -Mongolian President Tsakhiagiin Elbergdorj has emphasised the significance of the country's relationship with Vietnam , an important Southeast Asian partner.

Friday, June 25, 2010

Mongolia approves rail policy for developing coal deposits, railway to link with Russia

ULAN BATOR, Mongolia (AP) - Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the south, the latest move in the long-delayed project that will help make the poor but mineral-rich nation less dependent on exporting to China.

Outlook For Northeast Asian Banking Systems Is Stable: Moody's

(RTTNews) - Moody's Investors Service said Thursday that the Northeast Asian banking system outlook remains stable.

Polo Resources Limited ("Polo" or "the Company") - Termination of Merger Discussions with Caledon Resources and Purchase of Ordinary Shares in Caledon Resources

TORONTO, June 24 /CNW/ - Polo Resources, the mining company with coal and uranium interests in Africa, Australia and Asia, announces further to the announcement on 27 April 2010 regarding Caledon Resources plc ("Caledon"), Polo no longer intends to make an offer to acquire the entire issued and to be issued share capital of Caledon.

Coal miner Peabody eyes Australia, Mongolia expansion

* Still interested in Australia expansion

* Looking at Mongolia mine operations

* Exploring West Coast port for Asian exports

Thursday, June 24, 2010

Mongolia coal intersected significant coal seams

It is reported that a new 4500 meter resource drilling program at Aspire Mining’s Ovoot Coking Coal Project in northern Mongolia has intersected significant coal seams. The company has completed two holes to target depth 1.5km apart, both of which intersected significant coal seam thicknesses. One hole intersected 20 meters from 143 meters depth and the second intersected 6.2 meters from 99 meters. Drilling of the former hole is continuing.

India looks at buying mining assets in Mongolia

Mining ties

An Indian delegation consisting of officials from both the Government and private sector visited Mongolia recently

Mongolia to liaise with India to develop mining, infra

June 23 (PTI) -- Mongolia that possesses some of the world's largest mineral resources like copper, gold, uranium and coal, wants to partner with India to develop its mines and infrastructure sector, a top Mines ministry official said today.

Mongolia: Emerging Mineral Giant

As the search for new mineral deposits sends companies to the far reaches of the globe, emerging economies play a vital role. The lack of exploration and development in these economies has kept vast mineral wealth largely untapped. This is evident in the new reports of Afghanistan’s mineral wealth, which should come as no surprise.

S3 Investment Company CEO Attends Mongolia Investment Conference in Ulaanbaatar

DANVILLE, Calif., Jun 23, 2010 (GlobeNewswire via COMTEX) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) today announced that the company's Chairman and CEO Jim Bickel has attended a conference titled "Mongolia: Capital Raising" held on June 15-16, 2010 at the Chinggis Khaan Hotel in Ulaanbaatar, Mongolia. This annual conference focused on capital raising by Mongolian private sector and the Mongolian government by way of privatization and/or sovereign bond issues. According to conference organizers, investment opportunities in Mongolia have become exponentially abundant as the country is aggressively emerging from severe economic crisis last year and its mining sector is poised to boom.

Wednesday, June 23, 2010

Petro Matad spuds Davsan Tolgoi-1 on XX block in Eastern Mongolia

Petro Matad (LON:MATD) has spudded the Davsan Tolgoi-1 (DT-1) exploration well, the first to be drilled in the 2010 campaign on the company’s Production Sharing Contract (PSC) on Block XX in Eastern Mongolia. DT-1 is being drilled vertically to an estimated target depth of approximately 1,440 metres, and drilling is expected to take 30 days to complete.

Origo Partners PLC investments in Mongolian exploration companies

Origo Partners Plc ("Origo") is pleased to announce that it has strengthened its presence in Mongolia by completing investments in two Mongolian based exploration companies following its successful placing to raise US$30 million on 11 June 2010. Both companies have exploration licenses in areas where significant mineral occurrences have already been identified and are led by teams with experience in identifying and developing Mongolian mineral assets.

Investment Agreement term would become 15 years only


Recently SGK discussed a draft law on decreasing investment agreement length from 30 years to 15 years. This draft law was presented on July 2009. There were some Q&A session on the draft before MPs approved to discuss the law at the general session of SGK.

N. China autonomous region to sell breeding pigs to Mongolia

North China's Inner Mongolia Autonomous Region has secured its first ever deal to export breeding pigs to the Republic of Mongolia, with a shipment of 60 animals set for August, the exporter announced Tuesday.

Chinese inland province, Mongolia vow to expand ties

ULAN BATOR, June 22 (Xinhua) -- China's Inner Mongolian Autonomous Region and neighboring Mongolia have vowed to expand economic, educational and cultural cooperation fight desertification.

Khan Resources prepares suit against Mongolia, claiming licences taken illegally

TORONTO - Khan Resources Inc. (TSX:KRI) says it's pursuing legal action to recover what it alleges was "illegal expropriation" of its uranium licences in Mongolia and has hired a Washington, D.C. law firm to handle the case.

Leighton on profit target

LEIGHTON Holdings says it is on track to achieve its expected full-year profit of more than $600 million, as the world's biggest contract miner looks at expansion overseas.

Khan Announces Organizational Changes and Update on Legal Actions

TORONTO, ONTARIO, Jun 22, 2010 (MARKETWIRE via COMTEX) -- Khan Resources Inc. /quotes/comstock/11t!e:kri (CA:KRI 0.24, -0.01, -2.08%) ("Khan" or the "Company") announced today key organizational changes, as well as an important update about legal actions it is pursuing in the fight to protect its interests in Mongolia and to preserve and enhance value for its shareholders.

Z.Enkhbold: Tavan Tolgoi to be resolved before SGK session ends

Z.Enkhbold, Head of the Standing Committee on Security and Foreign Policy shares his opinion on Tavan Tolgoi.

Chinese premier's visit will enhances bilateral cooperation: Mongolian PM

ULAN BATOR, June 22 (Xinhua) -- Mongolian Prime Minister Sukhbaataryn Batbold said Tuesday Chinese Premier Wen Jiabao's visit to Mongolia early June contributed significantly to bilateral relations and cooperation, especially in economic and commercial ties.

Tuesday, June 22, 2010

Mongolia, gold and a relaxed yuan - David Hargreaves, Mining Consultant: WH Ireland

A look at the difference between steel industry metals and LME metals, the impact of a relaxed yuan, a bit on precious metals and the outlook for Mongolia

Policy rate left unchanged

Central Bank directors have decided to keep the policy rate unchanged at 11 percent.

Forum debates model mining agreement

The President’s Office last week organized a two-day conference on proper development of the mineral sector under the auspices of Davos Economic Forum, an organization set up under suggestions from President Ts.Elbegdorj. It was attended by representatives from the Government, investors, civil unions and experts in the field.

MEETING OF ASIA PACIFIC TRADE AGREEMENT TO BE HELD

The 36th meeting of the Asia-Pacific Trade Agreement (APTA) will be held June 21-22 in the Ministry of Foreign Affairs of Mongolia.

Leighton reiterates full year guidance

Construction giant Leighton Holdings Ltd has reiterated that it is track to achieve its expected full year profit and has a strong balance sheet.

Japan, Mongolia to hold study group meeting on free trade accord+

TOKYO, June 21 (AP) - (Kyodo)—Japan and Mongolia will hold two-day talks in Ulan Bator from Thursday to study whether the two countries should conclude a bilateral free trade agreement, the Japanese government said Monday.

Runge opens Mongolian office, wins new contract


Queensland-based mining technology services company Runge has won a significant scoping study contract for a Mongolian mining house just months before opening its own office within the country.

China’s May Coal Imports Rise 17%; Prices Climb on Demand Gain

June 21 (Bloomberg) -- China, the world’s second-biggest energy user, increased coal imports by 17 percent in May because of a rebound in the economy.

Ivanhoe Mines (NYSE:IVN) Beats Gold Price Trend Today - Up Over 2 Percent

Ivanhoe Mines (NYSE:IVN) (TSE:IVN) went against the grain of gold prices today, and pushed up over 2 percent, gaining $0.30, or 2.02 percent at the close in New York.

Kh.Battulga: USD 6 billion is required for new railways

Kh. Battulga, Minister for Road, Transport, Construction and Urban development was interviewed about the railway policy:

Red Hill Energy Inc.: Drilling Completed at Prophecy's Chandgana-Khavtgai Coal Project, Updated NI 43-101 Resource Report Is Expected by August

VANCOUVER, BRITISH COLUMBIA, Jun 21, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy (CA:PCY 0.58, 0.00, 0.00%) (PINK SHEETS: PRPCF)(FRANKFURT: 1P2) is pleased to report the successful completion of its spring exploration program on its 100% owned Chandgana-Khavtgai license in Khentii aimag (province), Mongolia. The work program consisted of 12 drill holes for a total of 2,205 metres including 903 metres of core drilling, and five lines of seismic geophysical survey for a total of 7.4 line km.

Monday, June 21, 2010

Visitor arrivals to Mongolia surge in first five months of 2010

ULAN BATOR, Jun 20, 2010 (Xinhua via COMTEX) -- Foreign tourist arrivals to Mongolia have surged 59 percent in the first five months of 2010, compared to the same period of last year, the Ministry of Nature, Environment and Tourism said Sunday.

Mongolian president speaks highly of relations with China

Text of report in English by official Chinese news agency Xinhua (New China News Agency)

[Xinhua: "Mongolian President Speaks Highly of Relations With China"]

ULAN BATOR, June 19 (Xinhua) - Mongolian President Tsakhia Elbegdorj said here Friday that the good-neighbourly partnership of mutual trust between his country and China is developing across all areas.

Leighton takes train to Mongolia's mining boom


On a bright and breezy summer's afternoon in the Mongolian capital of Ulaanbaatar, Wal King, is enjoying a favoured pastime: walking.

India and Mongolia exploring tie-ups in mining, technology

June 18 (PTI) -- India is looking at possible tie-ups with Mongolia in the fields of mining, technical cooperation and development of infrastructure, a top official today said.

Ivanhoe and Rio differ on Oyu Tolgoi mine size

Matt Chambers
From: The Australian
June 19, 2010 12:00AM

RIO Tinto has refused to back an increase in the planned size of the $US4.6 billion ($5.3bn) Oyu Tolgoi copper and gold mine in Mongolia.

Friday, June 18, 2010

Peabody Energy (NYSE: BTU) Targets Significant Value Creation Amid Long-Term Supercycle for Coal

NEW YORK, June 17 /PRNewswire-FirstCall/ -- Peabody Energy's executives today observed that the company is in a strong position to create significant growth and shareholder value against the backdrop of very favorable long-term supply and demand fundamentals for the global coal industry. The outlook came at the company's 2010 Analyst and Investor Forum in New York, where senior executives reviewed the company's long-term projects and prospects.

Indian Mines Delegation Calls on Prime Minister of Mongolia

A high level government and business joint delegation on mines sector, led by the Secretary, Ministry of Mines, Smt. Santha Sheela Nair, visited Mongolia and China recently. During their visit to Mongolia, the delegation called on the Prime Minister of Mongolia, Mr. Batbold S. and briefed him about the proceedings of the first JWG meeting and identification of specific issues. The Mongolian Prime Minister said that the Indian side should aim at mineral-based value addition projects and associated infrastructure development.

Chinalco To Develop Mongolian Copper Gold Mine

Aluminum Corporation of China, or Chinalco, is negotiating with Mongolia about its participation in the project of Oyu Tolgoi, a copper-gold mine of Mongolia. The earliest time for the final decision of Chinalco's participation would be in July, and the labor contract would be a booster for that.

Mongolia can be next big commodity story, says RCM CIO

Mongolia is set to reap large economic benefits from neighbouring China’s increasing demand for commodities over the next few decades to accommodate the country’s expected growth, according to RCM’s Asian expert Raymond Chan.

Mongolia plans $1.2 billion bond issuance

Mongolia's frontier economy and mineral wealth attracts international interest amid discussions to tap the international capital markets this year.
By Rupert Walker | 18 June 2010

Mongolia Seeks Investors for $10 Billion Desert Building Boom

By Hanny Wan

June 18 (Bloomberg) -- Mongolia is seeking investors to partner it in a $10 billion desert industrial complex that will allow it meet rising Asian demand for coal and copper from some of the world’s largest untapped mineral resources.

In resource-rich Mongolia, debate lingers on China ties

* Mongolia politicians determined to avoid China-dependency

* Govt aims for diversified customer base for minerals

* Split on large industrial park vs. railway construction

The aimags of the Gobi region are going to be urbanized

The mining boom pushes the aimags of the gobi to urbanise themselves.Source : Tseg.mn

As the mining boom takes hold of the Gobi aimag in Mongolia, workers are required and urban centers needed. Investments to achieve this has been agreed by the ADB bank in Mongolia.

Thursday, June 17, 2010

Aberdeen Reports Shareholders' Equity of $1.19 Per Share and Quarter End Financial Results

Jun 15, 2010 07:00 ET

- Investment Portfolio Increases to $69.7 Million or $0.80 Per Share

- Royalty Income of $514,074 Received in the First Quarter

- Asset Base Continues to Benefit From Strong Gold Price Environment and Enviable Global Resource Deal Flow

MERITUS RECEIVES RESULTS OF UP TO 231.2g Au/t FROM FLOAT SAMPLES AT MONGOLIAN GOLD PROJECT

Vancouver, B.C.: Meritus Minerals Ltd. (MML) (C-MER) (the "Meritus" or "Company") is pleased to announce that it has now received results from recent sampling at the Gutain Davaa Project in Mongolia. An independent consultant, who is preparing a NI 43-101 report to satisfy the requirements of the TSX Venture Exchange, and Meritus staff collected samples from the Toordogiin Shil and Toordogiin Hayr Prospects at Gutain Davaa during a recent visit.

Groundbreaking ceremony for UHG to Gashuun Suhait Road

June 16 (summarized by Mogi from www.open-government.mn) On the same article above Government Press Office announces the start of a 245 km paved road from Energy Resources UHG mine in TT to the Gashuun Suhait Border Point. The groundbreaking ceremony was held on May 27.

Cabinet releases export data for miners operating in TT

June 16 (www.open-government.mn) Government Press Office website releases the following info regarding coal mining in TT and Nariin Suhait.

PFI - Oyu Tolgoi mine picks two

* Two banks selected on world scale mine
* Funding for US$4.6bn scheme to be multi-tranched

By Rod Morrison

FINANCE VIDEO: Mongolia Energy Corporation (HKG:0276) Executive Gordon Poon Speaks at Beijing Mines and Money 2010.

The principal business is that of an energy and natural resources developer and currently have projects and investments in the independent nation of Mongolia and Xinjiang, PRC. As an energy and resources developer, MEC acquire concession areas, and with an international team of experts, coordinate all aspects of mine development, including exploration, mine design and extraction to international standards.

Stock exchange brawl looming over Mongolian IPOs

Tokyo, Seoul and Hong Kong are all jostling for a slice of the action from resource-rich and landlocked Mongolia Posted: Wednesday , 16 Jun 2010

Entree Files NI 43-101 Technical Report on Hugo North Extension and Heruga Development Options

Entree Gold Inc. (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA - "Entree" or the "Company") has filed a comprehensive NI 43-101 Technical Report ("ETR10") on SEDAR, which can be viewed in its entirety on www.sedar.com or Entree's website at www.entreegold.com.

Mongolia to sell off mining assets

MONGOLIA'S plan to privatise its state-owned assets will allow international investors access to some of the world's largest untapped mineral resources through initial public share sales, most likely in Hong Kong.

Mongolia to Let Investors Tap Resources Through Overseas IPOs

By Hanny Wan                              
June 16 (Bloomberg) -- Mongolia’s plan to privatize its state-owned assets will allow international investors access to some of the world’s largest untapped mineral resources through initial public share sales, most likely in Hong Kong.

Independent: Mongolia set to list vast mineral assets in London

By Alistair Dawber

Mongolia, home to potentially some of the world's largest mineral deposits, is set to float some of its state-owned mining assets after receiving proposals from a number of bourses, including the London
Stock Exchange (LSE).

Lithuania and Mongolia discussed economic cooperation during consultations in Ulaanbaatar


During consultations in Ulaanbaatar on June 15, Lithuanian Vice-Minister of Foreign Affairs Sarunas Adomavicius and Deputy Minister for Foreign Affairs and Trade of Mongolia Bayarbaatar Bolor discussed the most important aspects of bilateral political and economic relations, as well as cooperation in the areas of economy, transport, science, culture, education and renewable energy, informed BC press service of Lithuanian Foreign Ministry.

Analysis: Asia exchanges battle for resource-rich Mongolia IPOs

(Reuters) - Asia's major stock exchanges have launched an all-out battle for IPOs from the land of Genghis Khan, with Tokyo, Seoul and Hong Kong jostling for a slice of the action from resource-rich and landlocked Mongolia.

Mongolia Scales Back Bond Sale Plan to $500 Million

(Updates with details on Mongolia from 3rd paragraph.)

By Hanny Wan and Lilian Karunungan

June 16 (Bloomberg) -- Mongolia’s government scaled back its plans for global bond sales this year, after Europe’s debt crisis drove up borrowing costs.

Wednesday, June 16, 2010

PM S.Batbold: I have no conflict of interest towards Tavan Tolgoi

Last Friday, Prime Minister S.Batbold presented his principle of Tavan Tolgoi project implementation to the State Great Khural. MPs generally, supported his idea of splitting the deposit into two parts. In his speech to the State Great Khural, Prime Minister S.Batbold said that “ …proposal of realizing Tavan Tolgoi deposit based on the will to become developed nation and creative minded people. We included solutions to provide opportunity to distribute economic benefit evenly to public using shares and to health, education and housing….”

Minimum profit from Tavan Tolgoi will reach US$5.5 billion

MPRP group meeting at the State Great Khural held and discussed the issue on Tavan Tolgoi Investment Agreement and its following documents. MP D.Zorigt, Minister for Mineral Resource and Energy, made press release on the decision. The Government made two alternatives on Tavan Tolgoi operation.

Inflation reaches 16.1 percent in Ulaanbaatar

Inflation at the end of May was 13.1 percent nationwide and 16.1 percent in Ulaanbaatar, where meat prices rose 50 percent and that of vegetables 20 percent. There are concerns that the inflation rate would rise to the level of two years ago, when it stood at 34 percent, with the price of wheat and flour rising the most.

Border railways to end bottleneck on China-Mongolia trade

HOHHOT, June 2 (Xinhua) -- At least two railways will cross north China's East Ujimqin Plain in Inner Mongolia to break a bottleneck on trade across the China-Mongolia border in the next two years.

Entrée Receives Green Light for Merger with PacMag Metals

VANCOUVER, June 15 /PRNewswire-FirstCall/ - Entrée Gold Inc. (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA - "Entrée" or the "Company") is pleased to announce that the Federal Court of Australia has approved the schemes of arrangement ("Schemes") between PacMag Metals Limited ("PacMag") and its shareholders and optionholders to effect a merger between PacMag and Entrée ("Transaction").

Hong Kong Bourse Met With Mongolian Mining Companies on Listing

June 16 (Bloomberg) -- Hong Kong Exchanges & Clearing Ltd. has met Mongolian mining companies seeking to list in the city, said Chief Marketing Officer Lawrence Fok, who is in the North Asian country for a forum on corporate capital raising.

Tuesday, June 15, 2010

(BBC) BBC Mon Asia-Pac: Mongolian industrial output up 12.2

BBC Mon Asia-Pac: Mongolian industrial output up 12.2 per cent in first five months over 2009
2010-06-14 12:49:32.598 GMT

Hunnu Coal Starts Drilling at the Unst Khudag Coal Mine

Hunnu Coal Starts Drilling at the Unst Khudag Coal Mine. Hunnu Coal, Australia listed mining company, which acquired 60% of the Unst Khudag Coal mine on April 12, 2010 announced today that it commenced an exploration and development drilling programme at the mine. According to the Company, the programme intends to confirm the current exploration target of 250mn tonnes to 500mn tonnes of coal within the mining license area and to identify the extent of the coal seam into the adjacent licensed exploration area. A total of 33 drill holes are expected to be completed for approximately 5,000 metres. The findings from the exploration and drilling programme will be released in coming months, according to Hunnu Coal.

MEC Appoints Dennis Carl Price as Chief Operating Officer

Mongolia Energy Corporation Limited (HKSE: 276) ("MEC" or the "Group") is pleased to announce that Mr. Dennis Carl Price ("Mr. Price") has joined the Group as Chief Operating Officer - Mongolia, effective May 14, 2010.

Ivanhoe Mines (NYSE:IVN): Miner of the Future?

Ivanhoe Mines (NYSE:IVN) may have positioned themselves as one of the top mining companies of the future, as their stake in the copper-gold mining project Oyu Tolgoi in Mongolia, ensures them a place among the top mining companies at minimum, and potential to be among the largest.

Australian miner Hunu Coal acquires new coal reserves in Mongolia

Perth, Australia-based coal miner Hunu Coal, which has assets in Mongolia, has recently announced that it has acquired a 60 percent interest in the Buyan coal project, which is located within the giant Tavan Tolgoi coking coal field in the Umnugobi province of Mongolia.

Foreign dollars for Mongolia boost

Mongolia is looking for foreign investors to help it boost domestic crude oil production tenfold in the next three years, a senior Mongolian diplomat said today.

MONGOLIA – Drilling program under way

King Solomon Mines is undertaking drilling at its Bu Dun Hua, Marmot and Deyinhar North gold, copper and molybdenum prospects in Mongolia.

MONGOLIA – Hugo North Extension estimate

The first ore reserve estimate for Entrée Gold’s Hugo North Extension deposit shows probable reserves of 27 million tonnes grading 1.85% copper and 0.72 grams/tonne gold.

Mongolia aims to list gold mine; seeks LSE, Nasdaq help

ULAN BATOR June 15 (Reuters) - Mongolia plans to list its Oyu Tolgoi mine, one of the world's biggest untapped copper and gold deposits, and is receiving proposals from global stock exchanges to assist with turning its state-run stock market into a private enterprise, a government official said on Tuesday.

Monday, June 14, 2010

Government Cabinet meeting will be hold in desert

The Government of Moldavia held an underwater meeting last year to draw international attention to climate change. Like this, President Ts. Elbegdorj announced at Copenhagen Conference that the Government Cabinet of Mongolia will hold a meeting in the desert in order to draw international attention to desertification. Accordingly, the Office of the Government had been preparing for Cabinet meeting in Omnogobi. However, the meeting has been delayed until September.

Foreign Minister G. Zandanshatar: Mongolia will launch uranium cooperation with Kazakhstan

Foreign Minister G. Zandanshatar took part in ministerial meeting as a part of 3rd Summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA), which was held in Istanbul, Turkey and also closed significant negotiation for Mongolia.

Mongolia to export up to 240 saker falcons this year

ULAN BATOR, Jun. 12, 2010 (Xinhua News Agency) -- Mongolia had set a quota of 240 saker falcons for export this year, Minister of Environment, Nature and Tourism L. Gansuh said Friday.

Oyutolgoi Board holds first meeting

The Representative Administrative Board of Oyutolgoi LC has held its first meeting with G.Batsukh in the chair. Over two days the board discussed and then approved working procedures and also set the date of the next meeting.

Mongolians to share TT profits


Tavan Tolgoi coal deposit will be under 100 percent state ownership and every Mongolian will enjoy a preference to own shares of Tavan Tolgoi, a leading coal deposit in the world with a reserve of 6.4 billion tonne.

T.Ochirkhuu: We have to accept what the IMF says

Deputy Minister for Finance T.Ochirkhuu answers questions on the state budget.

Shenhua reiterates interest in Tavantolgoi

Shenhua, China’s leading coal miner, has been interested in Tavan Tolgoi since 2003. The company’s president Ling Wen recently said Shenhua had submitted its bid for a second time, adding that it “has the greatest competitive advantage over other bidders”.

Push to draw Chinalco into Oyu Tolgoi project

THE governments of China and Mongolia are discussing a potential labour agreement which, if finalised, will transfer 2500 Chinese to work for the copper-gold mining project Oyu Tolgoi in Mongolia, the 21st Century Business Herald reported yesterday.

Chinalco to co-develop Mongolian copper-gold mine

Aluminum Corporation of China, or Chinalco, a large Chinese resources company, is now negotiating with Mongolia about its participation in the project of Oyu Tolgoi, a copper-gold mine of Mongolia. If a labor contract is signed successfully, about 2,600 Chinese workers are expected to work for the project, said a member of the Chinese delegation on Thursday.

Petro Matad restarts Davsan Tolgoi operations as foot-and-mouth restrictions are lifted

Petro Matad (LON:MATD) has restarted operations at its Davsan Tolgoi prospect in Block XX, in Mongolia's Dornod Aimag Province, after the foot-and-mouth enforced restrictions were lifted. On 1 June, the company had to suspend operation, as the governor of Dornod Aimag imposed blanket vehicle and personnel movement restrictions in and out of the area.

MONGOLIA: Brewer APU to double capacity

Mongolia’s largest drinks company is to expand its beer production after securing a US$25m loan from the European Bank for Reconstruction & Development (EBRD).

Friday, June 11, 2010

Origo raising $30m for Chinese and Mongolian investments

Business Financial Newswire - Private equity investor Origo Partners plans to raise up to $30m via a placing through an accelerated book-building process.

Processing factory facilities and equipment will be exempted from tax

The government of Mongolia made decision to support infrastructure, processing industry and realization of major mining projects. The Cabinet Ministers’ Meeting resolved to present the draft amendment law on Value Added Tax Law. If the State Great Khural passes the amendment, some products will be exempted from tax.

Russians agree investment in Mongolian railway

2010-06-10 12:32:23.411 GMT

Text of report in English by Mongolian news agency Montsame website

[By B. Huder] Ulaanbaatar: The ambassador extraordinary and plenipotentiary of Mongolia to the Russian Federation, D. Idevhten, met Wednesday [9 June] V.I. Yakunin, president of the Russian Railways open stock venture (OSV).

Uzbek leader hopes Mongolia will be among first candidates to join Shanghai bloc

Jun 10, 2010 (BBC Monitoring via COMTEX) -- [Correspondent] Bilateral dialogues, which take place within the framework of large forums, give an opportunity to review the priorities of interstate relations from the point of view of demands of modern times.

Centerra May Make C$3 Billion of Gold Acquisitions in Next Year

By Millie Munshi

June 11 (Bloomberg) -- Centerra Gold Inc., the owner of the Kumtor mine in Kyrgyzstan, said it may spend as much as C$3 billion ($2.9 billion) buying assets in the next year to boost production.

Thursday, June 10, 2010

UNIVERSITY CAMPUSES TO BE BUILT

/MONTSAME/ At the Wednesday's cabinet meeting, some Ministers, Mayor of Ulaanbaatar city and governors of aimags were ordered to take staged measures to develop a university campus and to work out a related plan.

Mongolia joins summit members to condemn Israel over Gaza raid

Mongolia joined several l leaders from the Middle East and Asia to condemn Israel"s raid on a Turkish aid ship bound for Gaza at a summit in Istanbul on Tuesday, calling on the Jewish state to end its "inhuman" blockade of the Palestinian territory, according to a report by Reuters. All members of the Conference on Interaction and Confidence Building Measures in Asia (CICA) except Israel itself denounced it for last week"s raid. President Ts. Elbegdorj led the Mongolian delegation to the summit.

S3 Investment Company Announces Appointment of Managing Director for Redwood Private Equity Fund

DANVILLE, Calif., Jun 8, 2010 (GlobeNewswire via COMTEX) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) and its wholly owned Redwood Capital subsidiary today announced the appointment of Richard Chiang, who has extensive experience in corporate finance, as Managing Director of the Redwood Asia Fund LP. The private equity fund was formed to facilitate faster capital response to the financing needs of Redwood Capital clients and greater participation in clients' future growth.

Move One Expands Capabilities in Mongolia

NewswireToday - /newswire/ - Budapest, Hungary, 06/04/2010 - Move One has been operating in Mongolia for several years and as part of an investment plan in response to recently announced large-scale mining projects, will be expanding current operations in the country.

Kyrgyzstan to export juice and sauce for Mongolian entrepreneurs

Mongolian entrepreneurs plan to supply juice and sauce, as well as raw materials for their production from Kyrgyzstan, the Agribusiness Competitiveness Center (ABCC) informs.

Mongolian president arrives in Uzbekistan for Shanghai bloc meeting

Excerpt from report by Uzbek state-owned National News Agency website

Mongolian President Tsahiagiyn Elbegdorj arrived in our country
[Uzbekistan] on 9 June to take part as an observer in a regular
session of the council of presidents of the Shanghai Cooperation
Organization's member states, which will be held in Tashkent.

Wednesday, June 9, 2010

U.S. company opens talks with MonAtom on jointly working in uranium sector

U.S.-based Mongolia Forward has opened talks with MonAtom, Mongolia’s State-owned uranium development company, to form a joint venture to explore, mine, and process uranium in Mongolia. In accordance with the recently enacted Mongolian Nuclear Energy Law, MonAtom will own 51% of the project.

MPs criticize bond sales in 2009

The general reaction of MPs to the government’s performance in regard to the economy last year was one of dissatisfaction as Parliament discussed in Friday a report on execution of the general budget of 2009 and another report by the National Audit Agency on the budget. The reports put the budget income at MNT1 trillion 994 billion, or 32.9 percent of GDP, while expenses stood at MNT 2 trillion 336.6 billion, or 38.6 percent of the GDP.

Manas Petroleum plans gravity survey of oil blocks in Zuunbayan, Tsagaan Els

Switzerland-based Manas Petroleum Corp. has planned an upcoming gravity survey to prepare a 300-km seismic campaign on blocks 13 and 14 in Mongolia. Manas is debt free and believes that it will be able to meet with the existing funds all its cash requirements planned for the next 12 months.

Petro Matad faces another frustrating delay in Dornod

Shareholders in Petro Matad Limited, the explorer targeting frontier lands on the Mongolian-Chinese border, must be wondering what next will come between them and the company’s first well on the Davsan Tolgoi prospect. First, it was an unusually long and severe winter that forced a suspension of operations on Block XX in Mongolia; now an outbreak of foot-and-mouth disease has led to a blanket vehicle and personnel movement ban in the Dornod aimag, site of the DT-1 well site.

MONGOLIA - IOM to Assess Needs of Rural Families Displaced by Extreme Winter

IOM, in cooperation with UN partners including UNICEF, is to launch an Emergency Displacement Assessment to investigate the situation of thousands of rural Mongolian families forced to migrate from their homes to the capital Ulaanbaatar by one of the coldest winters on record.

Mongolia looks to keep control of Tavan Tolgoi coking coal deposit

Mongolia wants a state-run enterprise to own a "significant percentage" of the country's Tavan Tolgoi deposit, the largest undeveloped coking coal deposit in the world, so as to retain control of it, while a second tranche is to be operated by a group of foreign and domestic companies, Bloomberg has reported, citing Mongolian Minister for Minerals and Energy Dashdorj Zorigt.

Tuesday, June 8, 2010

Mongolia to List Major Asset

By ELLEN SHENG

Mongolian Prime Minister Sukhbaatar Batbold plans to list 20% to 30% of Tavan Tolgoi, the country's giant coking coal deposit, on the Mongolian Stock Exchange, a person familiar with the situation said Monday.

Mongolia Seeks to Retain Control of Tavan Tolgoi Mine

By John Duce

June 7 (Bloomberg) -- Mongolia wants a state-controlled company to own a “significant percentage” of Tavan Tolgoi, an untapped coking coal deposit that has attracted the interest of the world’s biggest mining companies.

Voyager Resources commences drilling at the Argalant Gold Project

Voyager Resources Limited (ASX: VOR) announces that diamond core drilling has commenced at its Argalant Gold Project in Mongolia. The initial programme is designed to test highly anomalous geophysical targets that were delineated from a recent Induced Polarisation (IP) survey conducted over the area.

Hunnu Coal walking among giants in Tavan Tolgoi Coking Coal Field in Mongolia

By acquiring a 60% interest in the Buyan Coal Project, located within the giant Tavan Tolgoi Coking Coal Field in Mongolia, Hunnu Coal (ASX: HUN) is aiming for a slice of a potentially huge resource endowment in Mongolia.

Prophecy & Sojitz Corp. Sign Cooperation Agreement to Jointly Market Ulaan Ovoo Coal to China

VANCOUVER, BRITISH COLUMBIA, Jun 07, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy (CA:PCY 0.65, +0.07, +12.07%) /quotes/comstock/11i!prpc.f (PRPCF 0.57, +0.00, +0.55%) (FRANKFURT: 3P1) and Sojitz Corporation of Japan have entered into an exclusive agreement to jointly market thermal coal from Prophecy's 208 million tonne Ulaan Ovoo coal deposit to buyers in China. The agreement also covers Japan and Korea, provided that the Coal is sold through the Chinese land border from Mongolia.

Monday, June 7, 2010

Will China get more Mongolian mining concessions after Premier Wen`s visit?

Chinese Premier Wen Jiabao concluded a two-day official visit to Mongolia, calling for a feasibility study on a China-Mongolia free trade area, and the adoption of trade and economic cooperation in the development of mineral and energy resources.

IMF representative meets Altankhuyag, Lundeejantsan, to warn against budget revision

IMF representative P.Ramlogan yesterday met with First Deputy Premier and Democratic Party head N.Altankhuag and the leader of Mongolian People"s Revolutionary Party group in Parliament, D.Lundeejantsan. He told both leaders that the IMF could not complete its mandatory annual review of the Mongolian economy until the fate of the proposed fiscal stability law was determined in Parliament.

Wen wants feasibility study on free trade area to begin

During his talks with Mongolian Prime Minister S.Batbold, Chinese Premier Wen Jiabao called for a feasibility study on a China-Mongolia free trade area, and the adoption of trade and economic cooperation in the development of mineral and energy resources. Wen, a former geologist, held talks with to promote cooperation in mineral resources development, infrastructure construction such as transportation development, finance, energy, and environmental protection.

Asian leaders to gather in Turkey for CICA

Leaders of several Central Asian countries will convene in İstanbul for a Conference on Interaction and Confidence-Building Measures in Asia (CICA) summit June 7-9.

Prophecy Completes Transportation Study on Its Ulaan Ovoo Coal Project and Tenders for Trucking Contracts From Mine Site to Railroad Offload

VANCOUVER, BRITISH COLUMBIA, Jun 04, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy (CA:PCY 0.58, -0.04, -6.45%) /quotes/comstock/11i!prpc.f (PRPCF 0.56, -0.02, -2.85%) (FRANKFURT: 1P2) reports that it has received an independent transportation Study for trucking of coal from its proposed Ulaan Ovoo mining operations to Mongolia's Sukhbaatar Railroad Station (Trans-Mongolian Railway) to fulfill secured capacity to transport a minimum of 1.5 million tonnes of coal annually to Russia and/or China.

Friday, June 4, 2010

The Chinese companies file against the Mongolian Government

Mongolian Government has case against Mr. Paushok, director of Golden East Mongolia, at the International Arbitrage court. But, in April 2010, three Chinese companies, Xinhuang Aoshi Xinglong International Industrial, China Heilongjiang International and Technical Cooperative Corp. and Beijing Shougang Mining Investment, filed against the Mongolian Government regarding their investment in Tumurtei deposit, Mongolia, to the International Arbitrage Court.

Mongolia, India to strengthen parliamentary ties

Ulaanbaatar (Mongolia), June 2 (Montsame) Lok Sabha speaker Meira Kumar is expected to visit Mongolia this month as part of the efforts to enhance parliamentary ties between the two countries.

Thursday, June 3, 2010

Mongolia - President Elbegdorj meets with Ms. McHale, Under Secretary of the US Department of State

Ms. Judith McHale, Under Secretary for Public Diplomacy and Public Affairs of the US Department of State called on a visit to the President Elbegdorj.

Mongolia will buy locomotive and carriages with the Chinese soft loan

The Chinese Premier Wen’s official visit to Mongolia has ended and Premier took off from Buyant Ukhaa International Airport.

Mongolia May Opt Broad Gauge Rail Line

Mongolia may choose broad gauge rail line as the country’s main ruling political forces are likely to narrow down their views to put an end to uncertainty over the country’s entire railway policy.

Beijing daily gives U.S. lawyer’s views on Chinese investment in Mongolia

The Global Times, a daily Chinese newspaper focusing on international issues and produced by the official Chinese Communist Party newspaper, the People"s Daily, has published in some detail the views of Michael Aldrich, an American lawyer who divides his time between Beijing and Ulaanbaatar, on the development of Mongolia"s mining-dependent economy. The lawyer feels that the Mongolian Government has realized that the country cannot properly develop without the flow of considerable capital northwards from China. It also wants to diversify the sources of foreign capital so no one country becomes the "key" investor.

Leighton wins Mongolia mining contract

By a staff reporter

Construction group Leighton Holdings Ltd has secured a $273 million, six-year contract to develop and operate Mongolia Energy Corporation's (MEC) Khushuut coal mine in western Mongolia.

Hunnu Coal: Acquires another Mongolian coal project


Hunnu Coal acquires 60 percent interest in Tsohio Coal Project in an effort to further expand in the South Gobi Coal Province.

Wednesday, June 2, 2010

Budget stability law is supported

Last Friday, the State Great Khural discussed the draft law on Budget Stability. According to Minister S.Bayartsogt, the Mongolia Development Fund was one of the efforts to provide stability of budge and due its implementation, when short run surge in commodity price occurs, unexpected revenue is spent for social welfare programs, budget investment in order to sustain and support the growth of economy and collected at the risk fund in order to secure budget stability.

Survey Says Unemployment, Standard of Living, & Inflation the Major Problems

The majority of respondents in a survey carried out by Sant Maral Foundation in April said unemployment is the main problem in Mongolia today.

Mongolia – China Economic Forum started


Chinese Premier Wen Jiabao has arrived to Mongolia on June 1st. His second day of visit to Mongolia, he provides speech at the Mongolia – China Economic Forum, started at 8.50 am, June 2nd. He will attend the opening ceremony of the Chinese Business Center.

Border Railways to End bottleneck on China-Mongolia Trade

At least two railways will cross north China's East Ujimqin Plain in Inner Mongolia to break a bottleneck on trade across the China-Mongolia border in the next two years.

CNNC signed agreement with Mongolia

ULAN BATOR — China agreed Tuesday to lend Mongolia 500 million dollars to help develop the landlocked nation's mining, infrastructure and finance sectors.

Border town bustling with business as Sino-Mongolia trade takes off

ERENHOT, Inner Mongolia: Compared with any port along the prosperous east coast of China, trade figures at the land port of Erenhot, a small Gobi town on the China-Mongolia border, are meager.

Lee group helps youth in Mongolia

Thousands of abandoned and abused children in Mongolia live in the sewers to keep warm, says the leader of an area group dedicated to helping them.

COMMISSION DECISION of on the financing of humanitarian actions in Mongolia from the general budget of the European Union (ECHO/MNG/BUD/2010/01000)

Brussels

C(2010) XXX final

THE EUROPEAN COMMISSION,

Risks to watch: Mongolia






By David Stanway

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.

Leighton's King prepares for confrontation with Hochtief

THE chief executive, Wal King, and his fellow Leighton Holdings directors are headed for a dramatic showdown with directors of the group's German parent, Hochtief, at a board meeting in Hong Kong on Sunday.

Erdene Announces Appointment of Xstrata Coal's Malcolm Cox to Board, Provides Zuun Mod Molybdenum Project Update

HALIFAX, NOVA SCOTIA, Jun 01, 2010 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. ("Erdene" or "Corporation") /quotes/comstock/11t!erd (CA:ERD 0.39, +0.01, +2.63%) is pleased to announce the appointment of Malcolm F. Cox to its Board of Directors and to provide an update on the Corporation's Zuun Mod Molybdenum Project.

China, Mongolia agree to boost cooperation in energy, trade

ULAN BATOR, June 1 (Xinhua) -- Visiting Chinese Premier Wen Jiabao and his Mongolian counterpart Sukhbaataryn Batbold agreed Tuesday to deepen bilateral cooperation in various areas including energy, trade and environmental protection.


China and Mongolia should strengthen exchanges and cooperation and advance the partnership of good-neighborliness and mutual trust between the two countries, Wen said in talks with Batbold in Ulan Bator, Mongolia's capital.