Recent news
No halt to slide in Chinese coal imports in 2015
Oversupply continues to weigh on the performance of thermal and metallurgical coal exports into China, according to Wood Mackenzie senior analyst Jonathan Sultoon. The causes of oversupply stemmed from an earlier market enthusiasm for coal that peaked in 2010 and 2011.
The new industry policy is result-oriented and visionary
The past few years have convinced Mongolians that industrialisation does not come from populist announcements or grandiose project proposals on paper. They look around and find that whatever little has come up has been in the private sector.
Making news for making money from mining
True enough there will always be others to do the work. That is how we get the various Forbes lists. I confess to lacking curiosity about people who have such mind-boggling amounts of money, and also to not having the acumen or the insight to tell a millionaire’s son from a billionaire’s in the very unlikely event that I meet them socially. Why then, this piece on the super-rich?
Successful start of Expo Mongolia in 2015!
From 23rd to 25th March 80 regional and international companies and institutions presented their latest products from industries like agriculture, infrastructure, construction, energy, mining and transport at Expo Mongolia trade fair and conference.
Largest coal mine in Russia opens
A new 167-year-life coal mine has opened in Russia. The Arshanovsky open cut mine, in south eastern Siberia, has set a goal of two billion tonnes of coal extracted over its mine life, at a rate of around 10 million tonnes per annum.
More Chinese iron ore mines seen shutting in 2015
About a third of China’s iron ore mines have halted production and this could rise as high as 45 per cent by the end of the year if the price of the steelmaking raw material stays below $70 a tonne.
XAMODX awarded Mongolia’s first Fairmined Certificate
The NGO XAMODX is the first Mongolian organization, only the fourth in the world, and the only one outside South America to have been awarded the Fairmined Certification by the Alliance for Responsible Mining recognizing that the gold it produces is without the use of mercury or cyanide.
Concern over how Mongolian plans pose threat to Baikal
Lake Baikal is facing another environmental threat, this time from across the border with plans in Mongolia for a series of new hydroelectric power plants. Campaigners including Greenpeace have made a plea to the World Bank to block funding for the major projects, which will see the plants built on tributary rivers leading to Baikal. Among the proposals is one to dam a river and divert water to the Gobi desert.
Mongolia offers more land for mining to raise cash
Mongolia is hoping to drum up more foreign investor interest in its flagging mining industry after opening up an additional 10.1 million hectares of territory for mining exploration. The country, estimated to possess $1.5 trillion worth of mineral resources like gold, copper and iron ore, started the application process for exploration licences on Jan. 26.
