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Petroleum / Mining in Mongolia

  • Mineral-rich Mongolia grapples with ‘resource curse’

    MONGOLIA, 2015/05/04 Chanting prayers to Tenger, the all-knowing holy sky, Mongolian shamans in fur and feather headdresses protested against a Canadian mining project they say threatens ancient grave sites. “It’s for our love for Mongolia, to protect our resources and territory,” said Tseyen-Oidoviin Sarantuya, who travelled additional than 1,000 kilometres (620 miles) to demonstrate in Ulan Bator’s major square against the venture. “I want people to know that Mongolia should remain Mongolian,” she said.
  • Rio Tinto delays project at government's request ahead of presidential polls.

    MONGOLIA, 2013/06/30 Wednesday's presidential elections and a revenue spat have reportedly caused the delay of the initial copper export at Mongolia's $6.6 billion Oyu Tolgoi mine. Anglo-Australian mining giant Rio Tinto said its plan to start exporting copper from the $6.2 billion copper and gold mine on Friday had been delayed, heightening investor concerns about the risks of mining in the country. Uncertainty over what was behind the delay sparked an exodus out of shares in other Mongolian miners on Friday, with Canadian and Australian listed miners exposed to the country sliding between 10 and 20 %.
  • Mongolia: Could things be looking up for Tavan Tolgoi?

    MONGOLIA, 2013/05/23 The national-owned deposit, Tavan Tolgoi, has enough coking coal to feed China¡¯s import needs for additional than 40 years. However due to mismanagement and weak coking coal prices, the mine has fallen on hard times. In January, it was running so short of cash that it suspended shipments to its major customer. That customer, China¡¯s national-owned Chalco, is as well one of the mine¡¯s biggest creditors, next a 2011 transaction under which Chalco lent the mine $250m that was to be repaid in coal shipments.
  • Zhang Xiaoqiang, deputy director of China's National Development and Reform Commission,

    CHINA, 2013/01/18 China and Mongolia have broad prospects to deepen cooperation in mineral resources and energy, a senior Chinese official said Tuesday. Zhang Xiaoqiang, deputy director of China's National Development and Reform Commission, said the two nations should enhance cooperation in mining and energy areas through joint development of large mining projects and construction of transportation infrastructure.