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Miners face a changed landscape on return to Mongolia
If investors are reconsidering Mongolia at a time of rising commodity prices, they will find an ecosystem with a range of ownership and governance models from fully state-owned to joint ventures with domestic and foreign companies, to entirely private projects.
Rio Tinto clashes with Bernstein over Mongolian mine report
Rio Tinto and Bernstein Research have clashed over a report that examined the investment case for the miner’s flagship copper mine in Mongolia.
Mongolia and Angola are most exposed to China, says Moody’s
How do you gauge a commodity exporter’s exposure to China? It sounds simple: the greater the share of commodities in a country’s exports, and the more those exports go to China, the greater the threat posed by China’s slowing economy and Beijing’s efforts to divert it from industrial investment to private consumption.
Rio Tinto vows to not cut copper output despite falling prices
Rio Tinto has warned that it will not cut copper production, saying it would be illogical to hold back output and leave space in the market for higher-cost rivals.
Hotel insider: Shangri-La, Mongolia
Looking south from the Horizon Club Lounge on the top floor of the new Shangri-La in Ulan Bator, I could see the single track of the trans-Siberian Railway, which loops down from Irkutsk in Russia for the 26-hour journey to the Mongolian capital. In the foreground, was the National Amusement Park — opened in 1969, [...]
China’s delusions of regional hegemony
The corollary of the decline of the west is not the rise of Asia. It is the erosion of Asia, at least as an idea, as rivalries within geographic Asia overtake the notion of regional cohesion that once bound these countries together.
Mongolia coalition on the rocks after six ministers axed
Mongolia’s governing “super coalition” is on the rocks following the forced resignation from the cabinet of six ministers belonging to the Mongolian People’s party.
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 and Rio Tinto agree $5bn Oyu Tolgoi mine expansion
Rio Tinto has reached a deal with Mongolia allowing the miner to restart a long-delayed $5bn development at Oyu Tolgoi, one of the world’s largest copper deposits.
Lunch with the FT: Saikhanbileg Chimed
At the Marshal House, a pastel peach building in the centre of the Mongolian capital Ulaanbaatar, it feels like time has stopped. A tall soldier waves me through ornate iron gates while another lights a fire against the cold spring air in the grand reception room. The thick carpets, full-length drapes and square marble columns [...]
Mongolia seeks to annul $100m Khan Resources claim
Mongolia’s justice ministry said it would seek to invalidate a $100m arbitration claim by Canada-listed Khan Resources, following the breakdown of talks and the death of the company’s chairman.
Mongolia PM confirms agreement in principle on Rio Tinto mine
Mongolia says it has broken the deadlock in negotiations about phase two of Rio Tinto’s $12.6bn Oyu Tolgoi gold and copper mine, as the resource-rich country seeks to woo back foreign investors.
Rio’s Mongolian wrangle prefigures bigger fight over smaller spoils
Mongolians do not always do what foreigners think they should. The warriors of Genghis Khan pinged arrows from a distance at adversaries who had pencilled “pitched battle” into their day planners. This was unsporting but effective. Now, Mongolia’s new prime minister, Saikhanbileg Chimed, has announced a referendum by text message on whether to develop further [...]
Mongolia holds text message vote on mining v austerity
Mongolia is holding an “X Factor” style referendum by text message after the prime minister turned to direct democracy to help shape the country’s economic policy.
Out of steppe: the $28bn plan to modernise Mongolia’s Ulan Bator
In 1990 Enkhtuya Baatar was a nomadic herder living in Mongolia’s northern Bulgin province when, one day, wolves began picking off her sheep. When a bitter winter, known as a zud, killed her remaining livestock Baatar, now 55, had little choice but to pack up and move her husband and four children to Ulan Bator, [...]
Mongolia’s new government must move quickly to restore confidence
Chimed Saikhanbileg, Mongolia’s incoming prime minister, must do more than simply continue the policies of his predecessor, ousted amid accusations of economic mismanagement and corruption.
Russia to increase gas supply to China
Russia and China have signed a memorandum of understanding to supply gas from western Siberia to China, in the second big gas deal to be sealed this year as President Vladimir Putin builds investment ties with China to counter increasing isolation from the west.