Ангилал: Таван толгой
China’s Shenhua suspends two coal mines, Mongolia set to benefit
China Shenhua Energy Co. Ltd has suspended operations at two large open-pit coal mines in northern China, it said late on Thursday, a move that could benefit producers across the border in Mongolia.
Coking coal price jumps to six-year high
The price of coking coal gapped higher again on Thursday with the industry benchmark price tracked by the Steel Index surging 4.6% to $314.00 a tonne due to continued supply outages following tropical storms in Australia.
Mongolian Mining Chapter 15 Bankruptcy Restructuring
Ulaanbaatar, Mongolia-based Mongolian Mining filed for Chapter 15 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 17-10695. The Company, which engages in mining, processing, transportation and sale of coal products in Mongolia, is represented by Timothy E. Graulich of Davis Polk & Wardwell.
Coking coal resumes sharp decline
After a pause last week (and even a small move higher) following 12 weeks of non-stop selling, the rout on coking coal markets resumed on Tuesday. The steelmaking raw material fell 4.7% to $154.80 on the day, the lowest since early September.
RSI Review on Shares of Mongolian Mining Cor
Investors are tracking indicators on shares of Mongolian Mining Cor (MOGLF). The current 14-day RSI is 50, the 7-day is at 43.77, and the 3-day is resting at 31.3. Many investors look to the Relative Strength Index (RSI) reading of a particular stock to help identify overbought/oversold conditions. The RSI was developed by J. Welles [...]
Massive Mongolia coal deposits could revive its flagging economy
Former frontier market darling Mongolia has had a tough time in a world of low commodity prices, with its government struggling to make ends meet, but a spike in global coal prices could see the country stage a comeback.
Mongolia Mining Corp could see debt deal before year-end
Mongolian Mining Corporation’s debt restructuring talks with its creditors are progressing well and a deal could be reached before the end of the year, the country’s Vice Minister Badamsuren Khookhor said on Monday. Hong Kong-listed Mongolian Mining Corp has been in default after missing a coupon payment in March on its $600 million 2017 issue.
World’s longest traffic jam points to Mongolia recovery
Over 60 kilometers, they line up: truck after truck, after truck. Nearly every one of them is laden with coal.
Economic collapse, Mongolia, China to restart the Tao Le cover coal mine tender: Shenhua two setbacks in the project
In order to stimulate its economy, Mongolia is expected to restart in the south of the country, the world’s largest coal tower Tolgoi tender.
Coking coal prices are on fire — up more than 80% in six months
Prices of coking coal, the steel-making kind, keep soaring on slowing supply growth from China and increased demand from Indian steel mills.
China and India could destabilize global coal market
Coal has historically played and continues to play a central role in the industrialization and development of nations. A convergence of factors, including China’s spectacular rise, has however had a significant destabilizing effect on the global coal market.
Mongolian Mining Defaults on Bond Coupon as Grace Period Ends
Mongolian Mining Corp. failed to make a $26.6 million coupon payment on bonds, in the latest sign of financial stress in the coal industry.
Moody’s: Mongolian Mining’s missed payment on bank facilities has no rating impact
Moody’s Investors Service says that Mongolian Mining Corporation’s (MMC, Ca negative) missed payment on the principal instalment and interest of its bank facilities has no immediate impact on its Ca corporate family and senior unsecured rating.
Mongolian Mining Corp. defaults
Mongolian coal company, Mongolian Mining Corp., has missed a debt repayment to lenders, including BNP Paribas Singapore and the Industrial and Commercial Bank of China (ICBC), after failing to secure a waiver or forbearance agreement from the lenders.
Монголия попросила у банка КНР $1,3 млрд на строительство железной дороги
Монголия попросила у эксим банка КНР заем в размере $1,3 млрд на строительство железной дороги, соединяющей Таван Толгой (крупнейшее в стране меторождение угля) с границей Китая, сообщает Bloomberg.
Mongolia Seeks $1.3 Billion From China to Complete Coal Railway
Mongolia is seeking a $1.3 billion loan from the Export-Import Bank of China to complete a railway connecting its Tavan Tolgoi coal deposit with the Chinese border, a project that has stalled because of lack of funds.
Developments at Mongolia’s Two Largest Mines Obscure Government’s Pre-Election ‘Go Slow’ Strategy
Looking ahead to 2016, Mongolia’s government publicized a series of major developments in its large state-owned mining projects of Oyu Tolgoi (OT) and Tavan Tolgoi (TT), which could pull the country’s battered economy out of its downward spiral of disappearing foreign direct investment (FDI) and falling GDP.
Thiess gets contract extension for Energy Resources’ Ukhaa Khudag coal mine in Mongolia
Energy Resources has awarded a four-year contract extension to CIMIC Group’s mining arm Thiess for the company’s Ukhaa Khudag coal mine in Mongolia.
Why did Mongolia’s S. Erdene set himself alight?
On Friday, November 13, S. Erdene, the head of the Mongolian Labor Union ‘Solidarity’ (Ev Sanaany Negdel) called a press conference to discuss a recent change in contract for workers at Mongolia’s Tavan Tolgoi mine, one of the largest coal mines in the world. After delivering his remarks, S. Erdene doused himself in flammable liquid [...]
ЯПОНИЯ НЕ ОТДАЕТ МОНГОЛИЮ КИТАЮ. БРАВО, ГОСПОДИН АБЭ!
Премьер Японии Синдзо Абэ заявил в Улан-Баторе, что Япония готова поддерживать Монголию на пути создания собственной стабильной экономики и самообеспечивающего развития. Япония передаст степной республике технологии по производству моторного топлива из угля и построит там железные дороги широкой колеи с угольного месторождения Тавантолгой до будущего суперцентра углехимии города Сайншанд. Сайншанд расположен на Улан-Баторской магистрали, позволяющей [...]
Mongolia struggles to develop Tavan Tolgoi coal mine
Mongolia struggles to develop its largest coal mining project, Tavan Tolgoi, with reserves of 7.4 billion tonnes of coal, after the Mongolian Government failed to secure $4 billion in funds. Development of the mine, halted by politics and weak government institutions, reflects the resource curse as Mongolia’s Parliament failed to transfer ownership of the coal [...]
Mongolia’s coal mine deal likely to stall
The Tavan Tolgoi coal mine in southern Mongolia is one of the world’s largest undeveloped coal deposits–estimated to contain reserves in excess of 6 billion tonnes of high-quality coking coal used for steelmaking, reports The Diplomat.
Mongolia unlikely to seal $4 bln coal mine deal – minister
A delayed $4 billion deal aimed at spurring development of Mongolia’s enormous Tavan Tolgoi coal mine has only a slim chance of going ahead, partly due to China’s slowing growth, one of the country’s chief negotiators said on Thursday.
Mongolia to sell stakes in Tavan Tolgoi coal mine
Mongolia is looking to sell stakes in 10 state-owned enterprises this year, including stakes in the $4 billion Tavan Tolgoi coal mine, as the country seeks to revive growth and boost investment, according to Bloomberg.
Mongolian parliament holds up foreign investment in giant coal mine
Mongolia’s parliament has stepped in at the last minute to halt a landmark deal with a consortium of foreign firms to develop the giant Tavan Tolgoi coal mine near the Chinese border, saying it needs the approval of legislators before going ahead.
Mongolia’s Debt to Chalco Stalling $4 Billion Tavan Tolgoi Deal
Mongolia’s accord with a group planning to develop its largest coking coal deposit for $4 billion is being stalled by the government’s $150 million debt to a Chinese state-owned company, Mongolian minister Enkhsaikhan Mendsaikhan said.
Mongolia desperate to kick-start deal
Talks to allow a consortium led by China’s Shenhua Energy to take over Mongolia’s largest coal mine have yet to be completed, with the project still paying off debts to another Chinese state miner, an official has said.
Negotiations drawn out over Mongolia’s largest coal mine
Talks to allow a consortium led by China’s Shenhua Energy to take over Mongolia’s largest coal mine have yet to be completed, with the project still paying off debts to another Chinese state miner, an official said on Tuesday.