Recent news
The man who saved the world
Given the MMJ’s unwavering commitment to upholding industrial responsibility to and for the environment, we cannot let go unnoticed the death in March, when our last issue was almost ready to be published, of American chemist F. Sherwood Rowland, even if his career and courage had no direct links with mining.
Origo reports world class molybdenum resource at Mandal Moly project
Origo Partners reports that the results of the recently completed maiden JORC compliant resource statement for Moly World Ltd’s Mandal Moly molybdenum and tungsten project reveal a total resource of 203.4 million tonnes of ore grading 0.1261 per cent molybdenum with total contained molybdenum metal of 256,000 tonnes.
Metallurgy complex needed immediately
President Ts. Elbergdorj’s speech at the recent Economic Forum was marked by his concern that iron ore was being transported to China day and night. It would indeed be sad if we run out of the reserves when we finally set up the capacity to process iron ore. One is reminded of the Mongolian saying, “Putting on the coat after the rain is gone”.
PARTS OF SPEECH
“Runaway public spending, authorised by politicians with their eye on the election, has been responsible for about half the11 per cent inflation. The central bank has been left to clean up the mess.”
Prophecy Coal to raise $800 million for power plant
Prophecy Coal Corp expects to raise $800 million in debt and equity financing by September to build a coal-fired 600-megawatt power plant in Mongolia, and expects to conclude a power purchase agreement with the Mongolian government by May.The price is expected to be slightly less than what the Government currently pays for importing electricity from Russia, said Joseph Li, a director and chief operating officer of Toronto-listed Prophecy Coal.The agreement is expected to last at least 25 years.
Coal is pass let us look for gas from it
Our future depends upon our mastery of technology. Japan and South Korea prosper by the power of their technology and German technology has become synonymous with the nation itself. In the world today a country cannot expect to develop without access to and use ofadvanced technology. Apart from the other captivating features of technology, its application has a special economic importance for Mongolia.
New railway move ensures TT will not be derailed
Work on the Tavan Tolgoi project continues to progress, belying talk that it is in limbo, and despite efforts by vested interests since 2008 to halt it through trying to take control of the whole railway construction work.
Power problem could delay OT progress
OyuTolgoi looms as one of Rio Tinto’s most exciting growth projects on the back of the company’s recent takeover of the project’s majority owner Ivanhoe Mines, but difficulties in delivering power to the mine’s remote location are continuing to fester, with Ivanhoe confirming that a deal to import power from China had still not been reached.
Centerra Gold violated laws, NGOs tell Canadian Govt
A consortium of Canadian and Mongolian organisations has filed a complaint with the Canadian government over apparent violations of Mongolian law and international corporate responsibility guidelines by Centerra Gold Inc. in its Mongolian operations.
Chalco to buy up to 60% of SouthGobiin $926- million deal
Chinese aluminium giant Chalcohas agreed to pay $926 million for a controlling stake in SouthGobi Resources in a deal with Robert Friedland’s Ivanhoe Resources.Ivanhoe said a sell-down would free up capital that could be invested in the OyuTolgoi mine.Under the deal, state-owned Chalco plans to buy up to a 60 percent stake in SouthGobi for C$8.48 per share.
Haranga Resources defines maiden JORC Iron Ore Resource at Selenge
Haranga Resources has defined a maiden JORC Resource for the Selenge Iron Ore Project.
The JORC Inferred Resource is based at the Bayantsogt prospect, one of four primary exploration targets at Selenge. It comprises 32.8 million tonnes of iron ore at an average grade of 24.4% iron, based on a 15% iron cut-off grade. Mineralisation remains open in all directions and at depth.
Hunnu’s coal reserves in Mongolia total 766 million tons
Hunnu Coal Ltd. has posted a JORC compliant resource of 676 million tons at its UnstKhudag mine, located 360 km from Ulaanbaatar. The mine has a confirmed resource of 541 million tons and 60 million tons of inferred resources.
“My personal wish is to have people’s capitalism”
In this informal and wide ranging conversation with L.Bolormaa, Minister of Mineral Resources and Energy D.Zorigt looks back at his years in office, marked by a shift in the popular perception of mining.
Is Mongolia ready to join the shale oil bandwagon?
Expectations of reduced energy dependence were raised when Mineral Resources and EnergyMinisterD.Zorigt declared at the Economic Forum that once “some important agreements” were out of the way, the Government wouldpay serious attention to developing the country’s shale oil resources.
