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The Lost World of Genghis Khan
For weeks, the heat has been building across central Asia. The days smoulder like a wet fuse. Desert mirages send distant mountains airborne, and form phantom lakes amid the Gobi bleakness. There’s something in the air now, some threat that drives the grey cranes south and sets the Buddhist prayer flags riffling. August has turned [...]
Vancouver resources conference to highlight Central Asia’s potential
The main trade group promoting business relations between Canada and Central Asia sees China’s recent infrastructure investment initiative in the region — which observers liken to the construction of a modern Silk Road — as a major opportunity for Vancouver’s resource sector.
5 must-see off-track locations
Close your eyes and picture your favourite holiday destination. What do you see? As a Canadian, you’re probably visualizing white sand beaches, crystal clear water, palm trees and tropical jungles. But your next vacation could be so much more than sangrias, sunbathing and snorkelling. What if you could dive into a culture head first and [...]
Mongolia, Rio Tinto both have reasons to settle Turquoise Hill dispute
Vancouver — A cost overrun of a couple of billion bucks at Oyu Tolgoi (Turquoise Hill), Mongolia’s new mega-mine, is no doubt significant even to a big company like Rio Tinto with sales last year topping $50 billion.
Vancouver firm takes action against Mongolia
South Gobi Resources Ltd. has filed a notice of investment dispute on the government in Mongolia, where officials are leery about the possible sale of the Canadian company to a state-owned Chinese concern.
Manthorpe: Mongolian elections mark key step on democratization road
Depending on whom one believes, Mongolia’s former president Nambaryn Enkhbayar is either a champion of democracy targeted for judicial persecution by an increasingly authoritarian regime or he is a corrupt charlatan whose finely crafted portrayal of martyrdom hoodwinked Washington, the United Nations and the European Union.
SouthGobi Says Customers Cut Orders on Mongolian Mine Concerns
SouthGobi Resources Ltd., the coal producer which Aluminum Corp. of China Ltd. has agreed to buy, said some customers have cut orders after the Mongolian government requested the suspension of projects.
Ivanhoe advisers contacted potential investors for some assets
Ivanhoe Mines Ltd., the mining company founded by billionaire Robert Friedland, said its advisers contacted potential investors for some assets, including its 57 percent stake in coal producer SouthGobi Resources Ltd. The advisers “worked with the company to evaluate direct, unsolicited expressions of interest received from a number of international companies,” Vancouver-based Ivanhoe said yesterday [...]
Ivanhoe Energy shares up on Mongolia drilling success
Canadian heavy oil producer Ivanhoe Energy Inc said it intends to drill two wells at its Nyalga Block XVI in Mongolia, with the option to drill up to three additional wells in an initial exploratory program, sending its shares up as much as 12 per cent on Tuesday morning.
Mongolia works to avoid the curse of resource wealth
No one missed the symbolism when earlier this month the Mongolian government announced which companies are getting the rights to develop the western block of the world’s largest known coal reserve, Tavan Tolgoi, in the Gobi Desert. The Chinese company Shenhua Energy won the right to develop 40 per cent of the block, a Russian [...]
Rio Tinto pays $502 million to boost Ivanhoe stake to 46.5%
Rio Tinto Group, the second-largest mining company by sales, will pay $502 million to increase its holding in its partner in a Mongolian mine development, Ivanhoe Mines Ltd., to 46.5 percent. Rio will exercise its remaining warrants over Ivanhoe stock to buy 55.1 million shares at $9.10 a share, increasing its holding from 42 percent, [...]
SouthGobi proves its coal business in southern Mongolia, ready to push production
In four years, Vancouver-based SouthGobi Resources Ltd. has gone from being a company with six employees, a coal deposit and an unproven market to one with 450 employees pulling 1.3 million tonnes of coal out of an open pit in southern Mongolia in 2009 and selling it in China. The company booked $36 million in [...]