Ангилал: Уул уурхай
Mongolia premier pledges to end Tavan Tolgoi coal mine impasse
Mongolia will “in the very near future” end an impasse over investment in a $5bn coal mine and push forward “Steppe Road” infrastructure plans with Russia and China, the prime minister has said as he seeks to shore up investor support for his country’s flagging economy.
Mongolia’s mining sector ready to take off again — Erdene Resource
Foreign investors, whose dollars make up a big component of Mongolia’s $11.7 billion economy, have been recently put off by a combination of falling commodities prices and the hectic views of the its policy makers.
SouthGobi former CEO claims $1m in damages
Dual-listed SouthGobi Resources’ former president and CEO Alexander Molyneux served the Mongolia-focused metallurgical and thermal coal miner with a notice of civil claim, filed in the British Columbia Supreme Court, it said on Thursday.
Mongolia to pay $100 million owed to Canada’s Khan Resources
The government of Mongolia will honour a $100 million arbitration payment to Canada’s Khan Resources (TSX:KRI), awarded by an international court in March, following the breakdown of talks and the recent death of the company’s chairman.
$8 trillion alternative energy boom is a win for copper
Here’s a bit of energizing news: In 2014, for the first time in four decades, the global economy grew along with energy demand without an increase in global carbon emissions.
Rio Tinto to invest in Mongolia gold, copper mine this year: Mongolia PM
Mining firm Rio Tinto Ltd has pledged to invest at least $250 million to $300 million in the construction of the underground section of the massive Oyu Tolgoi copper and gold mine in Mongolia this year, Mongolia’s prime minister said on Friday.
Australian coking coal miners get boost from low prices, China deal: Russell
Australian coking coal miners have received two recent, and rare, pieces of good news, one obvious and the other counter-intuitive.
SouthGobi Announces Progress on its Funding Plan, an Extension of the TSX Delisting Review to Permit Completion of the Proposed Private Placements, and the Revised Timing for its 2015 AGM
SouthGobi Resources Ltd. (SGQ)(1878) (“SouthGobi” or the “Company”) announces progress on its funding plan (the “Funding Plan”) to meet the Company’s obligations as they fall due and continue to achieve its business objectives. The Company also announces the extension of the Toronto Stock Exchange (“TSX”) delisting review to permit completion of the proposed private placements [...]
Short-term boost to Asian coal prices
Prices for Australian thermal coal have jumped almost 8% since the beginning of the month as an El-Nino related heat wave in Southeast Asia has increased demand for power, while hitting hydropower generation levels, forcing utilities to boost electricity production from alternative sources.
Mongolian miner signs deal to ship coal to North Korea
A Mongolian coal miner has signed a deal with a shipping company to deliver its coal via Russia to North Korea’s Rason port, part of the landlocked north Asian nation’s efforts to find new ways to reach overseas markets such as Japan and South Korea.
Geopolitical risks are climbing – interstate conflict is top risk in 2015
Every year, the World Economic Forum publishes an annual report on global risks that covers the factors and underlying drivers that could most likely disrupt global economic activity. Most of the time over the last decade, the survey of 900 global experts finds the top risks to revolve between potential economic events such as collapsing [...]
Guildford Coal Attempting To Conquer Mongolia’s Coal Mining Industry
Guildford Coal Limited (GUF: ASX) is an Australian mining company with a large portfolio of coal assets in Mongolia, Central Asia and Australia. These days it is not easy to be a coal miner as environmental sentiment towards coal mining continues to evolve. Coal prices have halved in value and are currently trading at a [...]
Khan Resources Takes $104 Million Mongolia Dispute to U.S. Court
Khan Resources Inc., the Canadian mining company claiming $104 million from Mongolia for lost licenses, petitioned a U.S. court to weigh in on the protracted dispute.
China’s steel, iron, coal industry growth collapsing
China’s economic growth is expected to slow to 7% in 2015 and may even slip below that – the slowest pace since 1990.
Petro Matad receives government’s approval for farm-out in Mongolia
Petro Matad, a petroleum explorer based in Mongolia, has received government approval for the farm-out to BG Group for a 78% interest in its interests in blocks IV and V in central Mongolia.
Khan Resources v The Government of Mongolia: how to assess compensation for expropriation
Over the last few years, there has been an increase in arbitration cases in the resources sector arising from the direct expropriation of property and assets into state ownership as well as the indirect expropriation through regulatory and fiscal measures such as increased taxation or restrictions on imports and exports.
Rio Tinto confident banks are backing Oyu Tolgoi
Rio Tinto’s top copper and coal executive Jean-Sébastien Jacques says some banks have already recommitted to help finance the $US4 billion ($5.2 billion) the miner is seeking for its stalled copper and gold project in Mongolia.
Mongolia’s mining sector “well placed” to grow
Mongolia’s mining sector is “well placed for continued expansion over the next few years,” according to a new report from BMI Research, “as foreign investors continue to leverage the country’s significant mineral reserves, robust infrastructure framework and proximity to major export markets, such as China.”
Coal prices to fall globally
A shift by Chinese buyers away from foreign suppliers to Mongolian coking coal, combined with increased optimism over a return of foreign investors, may offset the sharp global downturn in both demand for commodities and in coal prices, though it will be some time before the effects of any rebound are felt in the industry.
Commodities’ Biggest Drop of 2015 Underscores Goldman Bear View
Commodities fell, heading for the biggest two-day selloff since November, as speculation over rising U.S. interest rates fueled a rally in the dollar.
TURQUOISE HILL RESOURCES LTD. SHORT INTEREST DROPS BY -10.8%
Turquoise Hill Resources Ltd. (NYSE:TRQ) has witnessed a drop of 10.8% or 2,223,887 shares in its short figure. The short interest diminution took it from 20,673,093 on April 30,2015 to 18,449,206 on May 15,2015. In terms of floated shares, the short interest was calculated to be 2%. The days to cover are 4 given that [...]
Turquoise Hill Resources (TRQ) – Analysts’ Recent Ratings Changes
Turquoise Hill Resources (NYSE: TRQ) recently received a number of ratings updates from brokerages and research firms:
Agreement between Mongolia and Rio Tinto opens door to future mining projects, economic growth
On May 18, 2015, the Government of Mongolia, Rio Tinto and the Rio Tinto subsidiary, Turquoise Hill Resources, reached agreement on development of the underground phase of the Oyu Tolgoi mining project. The agreement, termed the “Oyu Tolgoi Underground Mine Development and Finance Plan,” sets the stage for future development and investment by Rio Tinto [...]
Mongolia to be transformed by giant Rio Tinto copper mine
Land of Genghis Khan to become global copper superpower after mega deal to build giant underground Oyu Tolgoi mine
Rio Tinto to Raise Up to $6 Billion for Mongolian Mine Expansion
Rio Tinto Group will seek to raise as much as $6 billion of external funding for the Oyu Tolgoi underground mine in Mongolia as the company prepares a war chest to develop one of the world’s largest untapped deposits of copper and gold.
Урановая дружба довела до арбитража
Газета Financial Times 15 мая опубликовала «неформальное» интервью с молодым монгольским премьер-министром Чимэдийном Сайханбилегом. За душистой бараниной глава кабинета пытался доказать, что Монголия рада западным инвестициям, и ее законы и порядки год от года всё больше благоприятствуют вложениям в горнорудный сектор. Вопрос «Ну а китайским инвестициям в Гоби?» вызывал весьма откровенный ответ: «Угроза китайской экспансии [...]