www.unuudur.com: The latest news of Mongolia in the World

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.

Свое недовольство результатами тендера, проведенного с Улан-Баторе, заявила Чрезвычайный и Полномочный посол США в Монголии Пайпер Энн Уинд Кемпбелл обращаясь к руководителю специальной рабочей группы правительства Монголии в ранге министра М. Энхсайхану.

It is widely reported that a consortium of China’s Shenhua Energy, Japan’s Sumitomo and Mongolia’s Energy Resources (a subsidiary of Mongolian Mining Corp) has won the tender to develop the 7,400 Mt Tavan Tolgoi coal deposit in Mongolia, though none of the companies’ websites currently carry any announcement. The consortium is said to have beat [...]

A group comprising Mongolia’s Energy Resources, China Shenhua Energy and Sumitomo have won the right to develop one of Mongolia’s largest metallurgical-coal deposits, beating a bid from US miner Peabody Energy.

A group comprising Energy Resources LLC, China Shenhua Energy Co. and Sumitomo Corp. (8053) won the right to develop one of Mongolia’s largest metallurgical-coal deposits, beating a bid from U.S. mining company Peabody Energy Corp.

Peabody Energy Corp. (BTU) and a group consisting of Energy Resources LLC (975), China Shenhua Energy Co. (1088), and Sumitomo Corp. (8053) are the two remaining bidders for a contract to develop Tavan Tolgoi, one of Mongolia’s largest coking coal deposits.

China Shenhua Energy Co Ltd will be part of a consortium bidding to develop the giant Mongolian coal project Tavan Tolgoi, the Chinese coal producer said on Thursday.

Five mining companies, including an international consortium, have said they would bid to develop Mongolia’s giant Tavan Tolgoi coal project, as the landlocked Asian nation restarts a long-awaited tender to develop the world’s largest coking coal deposit.

Energy Resources LLC, a unit of Hong Kong-listed Mongolian Mining Corp. (975), has formed a consortium to bid to develop mines in the Tavan Tolgoi coal basin.

Mongolian coal producers are “burning cash” and face pressure in the next 12 months because low prices and weak demand from China will persist, according to Moody’s Investors Service.

Macmahon Holdings has raised the possibility of legal action against a Mongolian coal miner over a disputed contract worth hundreds of millions of dollars.

China is to apply import duties on coal from October 15 in an effort to prop up its domestic coal industry, which is suffering from slumping prices, heavy debts and new domestic capacity.

China, the world’s top coal importer, will levy import tariffs on the commodity after nearly a decade, in its latest bid to prop up ailing domestic miners who have been buffeted by rising costs and tumbling prices.

Macmahon Holdings Ltd. (MAH) and two of its subsidiaries in Mongolia called a three-week truce with coal miner Erdenes Tavan Tolgoi JSC as the two sides negotiate over unpaid claims.

Erdenes Tavan Tolgoi which owns rights to most of the massive Tavan Tolgoi coal deposit – has had to cease production in a financial dispute with contractor Macmahon Holdings.

Tougher Chinese policies aimed at reducing the country’s dependency on coal would help restrain global coal demand growth over the next five years, the International Energy Agency (IEA) found in its yearly ‘Medium-Term Coal Market Report’ released in Paris on Monday.

Three companies that mine coal in Mongolia’s Tavan Tolgoi basin have agreed to export 1 billion tons of the fuel to China’s Shenhua Group Corp. in the next 20 years, said the chief executive officer of one of the suppliers.

Three companies that mine coal in Mongolia’s Tavan Tolgoi basin have agreed to export 1 billion tons of the fuel to China’s Shenhua Group Corp. in the next 20 years, said the chief executive officer of one of the suppliers.

It is not the best of times for Mongolia’s two largest mines. Both are falling well short of their moneymaking potential and, ever mindful of this, the government is in talks with its partners in each project to open a new chapter in the Mongolian investment story.

Mongolia is desperate to turn around the slump in its economic growth and the steep fall-off in foreign investment.

Thermal coal dipped to US$78 on Wednesday as a result of weak demand, nearing its lowest level since 2009 and raising questions about its profitability.

The landlocked country aims to regain the top position it lost in the first half by 2015 when transport link to major China market is completed

Mongolia has lined up three local firms to mine the West Tsankhi block of the giant Tavan Tolgoi coal mine for a year, an executive at the state-owned mining company said on Friday, as the country aims to boost coal output.

The Mongolian Ministry of Environment and Green Development has announced the closure of Tsagaan Khad, a coal customs stockyard on the Mongolian side of the border with China, citing environment damage from coal haulage, but the measure has yet to be enforced, a marketing executive at a local coal mining company told Platts Wednesday.

Инвестфонд “Евразия финанс” президента FIDE и экс-главы Калмыкии Кирсана Илюмжинова может принять участие в строительстве железных дорог в Монголии. Фонд претендует на 26% в проекте строительства почти 2 тыс. км новых путей стоимостью $5,2 млрд в южной части страны. Новая железная дорога необходима в том числе для освоения угольного месторождения Таван-Толгой, долю в котором хотело [...]

Asian benchmark thermal coal prices were pegged at $85 a tonne on Thursday amid increasing gloom at industry’s primary gathering.

Mongolia’s Parliament passed Friday a long-awaited securities law that paves the way for the government to launch a $3 billion initial public offering for the state-owned Tavan Tolgoi, the world’s largest coal deposit.

Erdenes Tavan Tolgoi LLC will begin this year to mine Mongolia’s West Tsankhi coal area as part of the debt-laden company’s plan to ramp up output and pay off money owed to Aluminum Corp. of China Ltd.

Mongolia’s economic growth slowed in the first quarter after coal prices fell and moderating Chinese demand reduced the nation’s exports.

BHP Billiton Ltd. (BHP), the world’s biggest exporter of steelmaking coal, may face a drop in contract prices to a record low in the third quarter amid rising supply and weaker Asian demand.