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Sumo wrestling struggles to find a home base
The man once known as Maenoyu Taro has lost some weight since retiring from professional sumo wrestling. Once an imposing 170 kilograms, he has slimmed down to 150, a mere 330 pounds. It’s not fighting weight, but still enough to fill out a bulky suit – and plenty to command the respect of the students [...]
From ‘Minegolia’ to a country in crisis: Mongolia looks to reverse its fortunes
Chimgee remembers the days people crowded in front of her meat market stall, waiting to buy from her storage locker jammed to the ceiling with beef, goat, sheep, camel and horse carcasses.
Ivanhoe Energy declares bankruptcy as restructuring talks with creditors fail
Ivanhoe Energy Inc. says it is bankrupt after restructuring talks with creditors proved unsuccessful.
Defiant former political prisoner remains true to Mongolian cause
In the 19 years he spent as one of China’s longest-serving political prisoners, Hada says he was beaten, injected with drugs and threatened with death. Authorities wanted him to recant his advocacy for the country’s ethnic Mongolians, whose autonomy and independence he has long sought. He refused.
Khan Resources takes Mongolia expropriation to arbitration panel
Canada’s Khan Resources is gambling that an international arbitration case in Paris will allow it to regain control of a uranium project that, it claims, was illegally expropriated by the Mongolian government, leaving it with nothing but angry investors.
Mongolia: a capital of contradictions you don’t want to miss
Just moments earlier, as we stood waiting at a dusty bus station, she had adopted a look of utter bewilderment and almost offence as I replied to the often-asked question of how long I had been in Ulan Bator: three weeks.
Remember Ivanhoe and be wary of Turquoise Hill’s Mongolian mine
Hi Lou, Turquoise Hill Resources Ltd. has a major gold /copper mine in Mongolia that is just starting to produce. Owned 51 per cent by Rio Tinto, with a chunk belonging to the Mongolian government. Good location to the main industrial centre of China, and hard working non union workers. What are your thoughts? – [...]
Rio Tinto faces Mongolian power struggle
In the middle of the Gobi Desert in Mongolia, Rio Tinto’s flagship $5.2-billion (U.S.) copper-gold mine stands nearly completed except for one thing: The mine is waiting for the power to be switched on.
Can Mongolia avoid Nigeria’s mistakes?
In much of the developing world, natural resources seem to offer a handy way out of poverty. But they also present a curse. Mongolia, where the centre-right Democratic Party led last week’s elections on a wave of resource nationalism, would be wise to avoid the mistakes of Nigeria and other nations. Government and private fingers [...]
Ivanhoe and Chalco agree to extend Chinese takeover bid of SouthGobi
Aluminum Corp. of China (Chalco) has agreed to a 30-day extension for its bid for Ivanhoe Mines’s controlling stake in SouthGobi Resources that has come under scrutiny by the Mongolian government.
Ivanhoe says Mongolian mine on target for production
Ivanhoe Mines Ltd. (IVN-T9.070.323.66%) has reported a narrowing of its first-quarter loss as the Vancouver-based miner said its promising Oyu Tolgoi copper-gold project in Mongolia remains on track for commercial production next year.
Ivanhoe’s Oyu Tolgoi may need power plant sooner than planned
Ivanhoe Mines Ltd. (IVN-T21.490.743.57%) warned Monday that if a deal to import power from China for its Oyu Tolgoi copper and gold mine in Mongolia falls through, the company may have to construct a coal-fired power plant ahead of schedule. Building the power plant would delay commercial production and add to the initial costs of [...]
BlackBerry services hit for second day
BlackBerry users across Europe, the Middle East and Africa were hit with service disruptions to their smart phones for a second day after an unexplained glitch cut off Internet and messaging services for large numbers of users around the world.
Won’t force change to mine deal, Mongolia says
Mongolia is backing off plans to grab a larger stake of the massive Oyu Tolgoi copper-gold project following warnings from its majority owner, Canada’s Ivanhoe Mines Ltd. (IVN-T17.572.0313.06%), that such a move would create mistrust among future international investors. Statements from government officials put an end to weeks of speculation that the country might seek [...]
Ivanhoe Mines overreliant on a benevolent Mongolia
Investors should consider last week’s events in Mongolia as a warning shot for the long-term geopolitical risks associated with Ivanhoe Mines Ltd.’s (IVN-T15.540.946.44%)massive copper and gold project in Mongolia. The Mongolian government’s brazen attempt to renegotiate the terms of ownership of the Oyu Tolgoi mine comes less than two years after a formal agreement was [...]
The challenging birth of a Mongolian copper mine
So how hard is it to construct a giant copper (HG-FT3.11-0.13-4.14%) mine in the middle of the Gobi Desert? Standing in a ger near the Oyu Tolgoi copper-gold mine, a former president of Mongolia had an answer. “Oyu Tolgoi has had a very difficult time getting started, like an elephant giving birth,” said former president [...]
Ivanhoe Mines pushes back at Mongolia over copper mine
Canada’s Ivanhoe Mines Ltd. (IVN-T15.00-1.51-9.15%) is battling back against moves by the Mongolian government to secure a larger chunk of the promising Oyu Tolgoi copper-gold project, but investors are bailing out. The Vancouver-based miner said it expects Mongolia to honour a 2009 investment agreement giving the country a 34-per-cent stake in Oyu Tolgoi for 30 [...]
Khan Resources stranded in the bitter Mongolian cold
Underneath the endless brown steppe in the remote northeastern corner of Mongolia, known as Dornod, lies a vast store of uranium. It’s a four-hour drive on a dirt track from Mongolia’s capital, Ulan Bator, to what is now just a collection of yurts. Six security guards, employees of Canadian junior miner Khan Resources Inc., (KRI-T0.29-0.01-3.33%) [...]
Ivanhoe touts ‘significant’ China gas find
Ivanhoe Energy IE-T has announced what it’s calling a “significant” natural gas discovery at its subsidiary Sunwing in southwest China, expecting to help meet China’s energy needs. Calgary-based Ivanhoe said Tuesday the Yixin-2 well has initial flow rates of up to 13 million cubic feet per day recorded. Shares of the company were ahead 15 [...]
In Mongolia, two Westerners learn what selfless giving is all about
Several years ago, my wife and I rode the trans-Mongolian Express to Ulan Bator, and then hitched a 17-hour tooth-shattering ride to the outpost of Moron. Perched near the Russian border – where the mountains, larch forests and clear lakes of Siberia collide with the central Asian grasslands – the city was a maze of [...]
Harper hosts Mongolian PM at launch of free-trade talks
Mongolia views the Canadian economy as a model to follow, nestled as it is next to a world superpower and relying on mining to expand its largely agricultural economy. On Tuesday, Prime Minister Stephen Harper hosted Mongolian Prime Minister Sükhbaatar Batbold for a bilateral meeting in Ottawa, where they launched the early stages of free [...]
Entertainment that soars
One eagle hunter is impressive. Put 50 together and you have one of the greatest aerial and equestrian shows on Earth. The first hunter of the competition is a respected veteran (age takes precedence in western Mongolia). He kicks his stallion lightly and trots to the end of the arid plain. There, at the base [...]
Mongolia inks deal for casino-resort near the Gobi Desert
Its proximity to a desert is about the only thing the Mongolian border town Zamyn Uud has in common with the gambling Mecca of Las Vegas. But Mongolian planners and U.S. entrepreneurs hope the tiny town, on the edge of the Gobi, where livestock outnumber people on the main rail link between China and Russia [...]
China prepares strategically for downturn
China is cutting back on its commodities binge through a series of recent investment choices that signal a change in strategy as its economy slows. In the past few weeks, China has pulled out of mining deals, curbed production, let stockpiles sink, expanded a resources tax and announced gold will not be a key investment [...]
Ivanhoe moves to secure Oyu Tolgoi funding
Ivanhoe Mines (IVN-T14.350.644.67%) has signed a preliminary agreement with two international financial institutions to secure up to $1.8-billion in financing for the the Oyu Tolgoi copper-gold mine in southern Mongolia, the company said Friday. Ivanhoe said in a statement the European Bank for Reconstruction and Development (EBRD) and the World Bank Group’s International Finance Corp [...]
Mongolia project to be among world’s largest: Ivanhoe Mines
Ivanhoe Mines Ltd. (IVN-T15.650.161.03%) says an independent study shows that its Oyu Tolgoi copper-gold project in Mongolia will be among the top three of its kind in the world when it reaches full production in 2013.
Ivanhoe puts defence plan in place
The board of directors at Ivanhoe Mines Ltd. (IVN-T18.53-0.22-1.17%) has adopted a defence plan that can be triggered in the event of an attempted takeover of the company. The plan, which is designed to ensure the fair treatment of Ivanhoe shareholders, doesn’t affect the contractual rights of Rio Tinto PLC (RTP-N241.11-1.47-0.61%) to increase its present [...]
Mining financier Robert Friedland’s next big deal could be with resource-hungry China now that a state-owned company has its sights on his Oyu Tolgoi copper-gold development project in Mongolia
Mining financier Robert Friedland’s next big deal could be with resource-hungry China now that a state-owned company has its sights on his Oyu Tolgoi copper-gold development project in Mongolia. A Chinalco executive said last week the metals giant wants to invest in Oyu Tolgoi, in which Mr. Friedland’s Ivanhoe Mines Ltd. has a majority interest, [...]