The nation has struggled to manage its resources leading to disagreements and protests of mining operations.
Mongolia Mining News
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.
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.