Move comes on the heels of Rio Tinto’s decision to resume work on a $5.3 billion expansion of the Oyu Tolgoi copper mine, following a three-year delay due to disputes with authorities.
Mongolia Mining News
Construction of the massive mine's underground portion will begin within months, with first production expected by 2020.
The Alliance for Responsible Mining announces today that Fairmined Ecological Gold from the Mongolian organization XAMODX and five mining organizations in la Llanada, Colombia is now available.
In the final part of our probe into the curious case of Khan Resources, we review events leading to the seizure of the company’s Mongolian assets and its chairman’s unusual death in an Ulaanbaatar hotel.
In the second installment of the curious case of Khan Resources, we explore the company’s turbulent history in Mongolia and document a deal with Russia’s leadership to swap its uranium mines for hundreds of millions of dollars in aid and debt forgiveness.
The curious case of Khan Resources exposes how Mongolia seized uranium mine deposits from their Canadian legal owner and transferred them to Russian government control. And with elections imminent, the Mongolian government is now trying to clean up the mess. (Part One of a Three Part Series)
The more than 2,000 people who gathered in Ulaanbaatar's Freedom Square claimed foreign companies have exploited Mongolia's mineral wealth, which accounts for 94% of the nation's exports.
The ramp up in Mongolian coal production will be faced with decreasing demand from China, the major importer of Mongolian coking coal.
The move comes as the Asian country is launching a new program this week that aims to attract mining exploration.
The nation has struggled to manage its resources leading to disagreements and protests of mining operations.
During the PFI Awards Dinner held in London on Feb. 3.
After a five-year delay, the country’s parliament has finally approved Centerra’s plans to mine the Gatsuurt gold deposit.
Figures include 520,695 ounces of gold from the Kumtor mine, in the Kyrgyz Republic, and 16,226 ounces of gold from the Boroo mine, in Mongolia.
The $4.4 billion deal involved international financial institutions and export credit agencies representing the governments of the U.S., Canada and Australia, along with 15 commercial banks.
The agreement, which is said to involve up to 15 banks, could be signed as early as Wednesday.
Vancouver-based company said it is waiting for "final notice to proceed" for $5 billion expansion of giant copper-gold mine in Mongolia mine.
Erdene is pleased to report high-grade gold intersections from the Company's recently completed, maiden drill program at its wholly-owned Bayan Khundii gold project in southwest Mongolia.
The company said it would announce a final decision on the matter early next year.
Construction of the gold mine, located in the south-central Kayseri province, should start in early 2016, followed by production by mid-2017.
Development of the mine, halted by politics and weak government institutions, reflects the resource curse as Mongolia’s Parliament failed to transfer ownership of the coal mine.
Investigation launched into Mongolian iron ore mine financed by European Bank for Reconstruction and Development for impacts on local communities
The investigation comes in response to a complaint filed to the EBRD’s Project Complaint Mechanism (PCM) in December 2014 from herders affected by the project.
Rio will buy all of Turquoise Hill soon says new report, but 'there's no incentive to promote the true value' of Vancouver co's giant Mongolia copper mine.
The move is part of a plan to sell the government's holdings in 10 state-owned companies over this year and next to boost foreign investment and revive growth.
The company, which owns a gold project in Mongolia, is optimistic about the country's stance towards foreign mining investment over the coming years.
The company, however, says it has not yet received any direct communication from Mongolia on the matter.