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.
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.
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.
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.
Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.
Shares in Vancouver firm up 12% after parent Rio Tinto and Mongolia sign landmark deal to fund $5 billion underground expansion of giant copper-gold mine.
India's Prime Minister Narendra Modi has made a master move in deciding to undertake an official visit to Mongolia this week.
The failed deal was supposed to allow Turquoise Hill to finally break ties with the Mongolian coal miner that was once worth over $2.4 billion.
The two sides met last week, but failed to reach an agreement on a dispute that has dragged on for six years.
Doak, the chairman of Toronto-based uranium exploration and development company Khan Resources, was found dead Thursday morning in his hotel room.
Once the fastest growing economy in the world, foreign direct investment in Mongolia collapsed over the space of just two years.
The country's parliament decided Tavan Tolgoi needs the approval of legislators before going ahead.
After two years of bitter wrangling Mongolian cabinet approves Vancouver firm's $5 billion expansion of massive copper-gold mine in Gobi desert.
Prime Minister Chimed Saikhanbileg said Friday his country should take charge of how long a dispute a expansion of the copper and gold mine has taken.
According to Timetric’s Mining Intelligence Center (MIC), Asian mines are transitioning towards digital mining, as demonstrated by continuing investment in design software and mine surveying.
Geologists found evidence of large amounts of silver smelting that ended up contaminating a vast area in southwest China.
An international arbitration tribunal has ordered Mongolia to fork over $100 million for expropriating the Dornod uranium project from Khan Resources (CNSX:KRI) back in 2009.
They are the only producer of Fairmined Ecological Gold, a special Fairmined label for Fairmined Gold produced without the use of mercury or cyanide.
Chinese Novel Sunrise Investments has agreed to buy 48.7 million shares in SouthGobi —which was once worth over US$2.4 billion —for 35 cents per share in cash.
US citizen Justin Kapla and two Philippine nationals sentenced to 5 – 6 years in jail while working for coal miner SouthGobi appeal to Mongolian president.
Mongolia may give up government shareholding in mining projects altogether.
Banned from travel since 2012, three SouthGobi workers, a coal firm owned Vancouver's Turquoise Hill, are now going to jail for 5-6 years for tax evasion.
Documents obtained and verified by The Australian, show that Rio Tinto offered Mongolia to forsake a “net smelter return” of 2% cent of the project’s revenue.
Mongolia’s dollar bonds and currency sank to record lows this month as a slide in commodity prices and a dispute with Rio Tinto Group over developing one of the world’s largest copper and gold mines kept foreign investors away.
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