Mongolia Mining News and Commentary

Mongolia legislates caps on foreign investment

MINING.com Editor | May 17, 2012

Mongolia is capping foreign investment in certain industries, including mining, in an attempt to keep profits inside the mineral-rich nation's borders.

Rio Tinto confirms support for Ivanhoe Mines comprehensive financing package and agrees to amend certain terms of memorandum of agreement

CNW Telbec | Mining/Metals | May 23, 2012

Rio Tinto and Ivanhoe Mines Ltd. (Ivanhoe) have agreed to amend certain terms of the memorandum of agreement announced on 18 April 2012, under which Rio Tinto has agreed to support and provide certain elements of a comprehensive funding package for Ivanhoe
Denison Mines net loss widens to $52 million on sale of US assets

Frik Els | May 9, 2012

Denison Mines Corp shed 1.2% on Wednesday bringing its losses over the last week to 19% ahead of quarterly results that showed the company widened losses to $51.9 million.
Mongolia backtracks on state ownership of mining companies

Frik Els | May 9, 2012

Fearing a backlash by foreign investors in the mining sector – the foundation of the country's economy – Mongolian legislators on Tuesday watered down many of the provisions of draft legislation that gives the state greater control and ownership of mining projects.
Report: Mongolia going the way of Zimbabwe with mandatory state control of foreign miners

Frik Els | May 2, 2012

Draft legislation, a copy of which was seen by the Financial Times on Wednesday, gave "the clearest sign yet that Mongolia is uncomfortable with the large foreign investments that have so far been a mainstay of economic growth."
Bean counters taking over at Ivanhoe

Frik Els | May 2, 2012

Following the resignation of inveterate dealmaker and founder Robert Friedland a fortnight ago, Rio Tinto insiders and Arthur Andersen alumni have been appointed to lead Ivanhoe.
Mongolia's mine law change unlikely to be retroactive – minister

Mineweb | April 30, 2012

Vice finance minister, Chuluun Ganhuyag, says the proposed new law will only apply to investment in certain deposits, but the list will go beyond the country's current list of strategic assets.
Mongolia could go it alone on giant coal mine-exec

Hellenic Shipping News Worldwide | April 24, 2012

Mongolia might choose to go it alone on the development of the western block of its giant Tavan Tolgoi coal mine after struggling for years to find the right investors, an executive with the state-owned firm in charge of the project said.
SGS awarded operational contract for Oyu Tolgoi on-site laboratory in Mongolia

SGS Minerals Services | April 24, 2012

SGS has been awarded the operational contract for the on-site laboratory at the Oyu Tolgoi mine in the Southern Gobi Region of Mongolia. This 3 year operational contract was awarded to SGS at the end of 2011.
Mongolia’s ‘ninja miners’ help sate China’s lust for gold

National Post | April 19, 2012

In a hot, concrete hut filled with acetylene fumes, an elderly Mongolian miner struggles to contain her excitement as she plucks a sizzling inch-long nugget of gold from a grubby cooling pot and raises it to the light.
Mongolia's 'ninja' miners help sate China's lust for gold

Reuters | April 19, 2012

In a hot, concrete hut filled with acetylene fumes, an elderly Mongolian miner struggles to contain her excitement as she plucks a sizzling inch-long nugget of gold from a grubby cooling pot and raises it to the light.
Legendary mining financier Robert Friedland quits Ivanhoe in Rio Tinto shake-up

Cecilia Jamasmie | April 18, 2012

Anglo-Australian mining giant Rio Tinto tightened its grip on Ivanhoe Mines as part of a $3.3 billion financing deal announced this morning, leading to the resignation of chief executive and founder Robert Friedland.
Ivanhoe staggers as Ouy Tolgoi costs balloon to $13 billion

Frik Els | April 13, 2012

Ivanhoe and Rio Tinto not only have to deal with higher projected mining and processing costs at the mega-mine but also development delays and most worryingly, lower ore grades.
Ivanhoe bloodletting continues

Frik Els | April 9, 2012

The Vancouver-based miner gave up another 3% on Monday, bringing its losses over the past trading week to 15% as worries about grades and costs at Oyu Tolgoi – one of the richest copper and gold mines in the world – continue to mount.
Prophecy up 4.8% after Southgobi deal puts Mongolian coal back in focus

Frik Els | April 2, 2012

Prophecy has more than 1.4 billion tonnes of surface minable coal resources at its flagship Chandgana project and is already producing at Ulaan Ovoo in Mongolia.
CHALCO pays $925M for 60% of SouthGobi Resources

Michael Allan McCrae | April 2, 2012

In a three-way deal with Robert Friedland's Ivanhoe Mines, the Aluminum Corporation of China (CHALCO) is bidding for 60% of SouthGobi Resources' and paying $8.48 for each common share.
Prophecy Coal to raise USD 800 million for Mongolia power plant

Steel Guru | April 1, 2012

Reuters reported that Canadian energy firm Prophecy Coal Corporation expects to raise USD 800 million in debt and equity financing by September 2012 to build a coal fired 600 MW power plant in Mongolia and expects to conclude a power purchase agreement with the Mongolian government by May 2012.
Japan urges dialogue with China on rare earths

Cecilia Jamasmie | March 28, 2012

Japan, the world’s main importer of rare earths, has requested international assistance for alternatives, conservation, diversification and recycling and to continue dialogue with China to secure stable global supply
Entree Gold upgrades and expands resources at Ann Mason

Marketwire - Mining and Metals | March 27, 2012

"With over 5 billion pounds of copper estimated at the indicated level and another 3.5 billion pounds estimated at the inferred level, Ann Mason should now be recognized as a significant deposit in one of the best mining jurisdictions in the world."
World's largest coal company muscling in on world's largest metallurgical deposit

Frik Els | March 26, 2012

"Shenhua is the most competitive bidder for the project given its technology, transport infrastructure, access to the Chinese market and the backing of the Chinese government," Shenhua CEO Ling Wen told reporters.
Rio Tinto in Mongolian power struggle

Brisbane Times | March 21, 2012

A power solution for one of Rio Tinto's most prospective mines remains elusive, raising doubts over whether plans to be in production within six months can be achieved. T
Oyu Tolgoi named one of '10 Beautiful Places We Could Destroy With Human Drilling'

Frik Els | March 20, 2012

The widely read Huffington Post in one of its characteristically breathless pieces on the environment on Tuesday calls out Ivanhoe Mines’ Mongolian project.
Oyu Tolgoi to start copper and gold production in late 2012

Steel Guru | March 18, 2012

As Chile is hit by falling ore grades and Peru is hit by delays due to populist agitation, the copper market is pinning a lot on the start of copper production later this year at Rio and Ivanhoe's Oyu Tolgoi mine in southern Mongolia's Gobi desert.
Korea Resources wants at least 10% of world’s largest met coal deposit

Cecilia Jamasmie | March 16, 2012

State-run Korea Resources Corp. (KORES) is planning to invest at least US$532 million (600 billion won) in mining projects abroad this yea, particularly in the coal sector of Indonesia and North America, reports Bloomberg.
Mongolian politics pushes stake sale of massive coal mine further out

Frik Els | March 9, 2012

Mongolia's plans, first mooted in 2010, to sell a stake in its Erdenes Tavan Tolgoi coal-mining company to the public faces more delays over politics and regulatory problems while talks with companies to developed the western block of the largest coking coal deposit on the globe are also on ice.
Snowden assists Mongolia to develop an internationally recognised mineral reserve and resource classification system

International Mining | March 9, 2012

Mongolia saw the requirement for the establishment and implementation of a public reporting code for exploration results, mineral resources and ore reserves, in line with other globally recognised codes, to adequately compete on an international scale in the mining and resources industry.