News briefs
Videos capture impact of mining in 2 regions of Mongolia
The dramatic expansion of Mongolian mine sites from initial diggings to their present size has been captured using satellite imagery for the first time by researchers at The University of Queensland’s Sustainable Minerals Institute (SMI).
Japanese researcher fears radiation exposure among herders
In a bid to gauge the extent of radioactive contamination in Mongolia, Ryoko Imaoka, an associate professor of Mongolian studies at Osaka University, has been supplying used cameras to herders so they can document the frequency of deformed livestock, which appears to be on the increase, particularly near uranium mines.“With the transition to a market-based economy rapidly in progress, environmental pollution is becoming a serious problem,” said Imaoka, 51.
It has always been a magazine of the times
Looking back, 2008 was a landmark year for the mining industry of Mongolia. Mining began in many deposits, reserve estimates in several already discovered deposits were re-estimated, and talks began on operating Oyu Tolgoi and Tavan Tolgoi.
Will Rio Tinto’s Simandou project in Guinea move forward?
Guinean former Minister of Mines Mahmoud Thiam claims that the Rio Tinto Group will likely suspend its efforts to develop one of the largest sources of iron ore in the world because the country’s government cannot afford to invest in needed transportation infrastructure.
Coking coal export earned $590 million last year
Minister for Mining D. Gankhuyag has reported that 31.1 million tons of coking coal was mined in 2012, of which 20.5 million tons was exported for approximately $590 million. Also, 14,483,138 barrels or about 2.3 million tons of crude oil was drilled, of which 14,090,509 barrels were exported for MNT332.3 billion.
Prowling for big oil in Mongolia, Wolf Petroleum signs PSC
Wolf Petroleum, formerly Strzelecki Metals, has signed a production sharing contract for the 23,047-sq km Sukhbaatar exploration block 27, located in and eastern Mongolian region with proven and producing petroleum systems and adjacent to Wolf’s existing BU Block.
Entree Gold reports on Q3
Entree Gold Inc. has filed its interim operational and financial results for the quarter ended September 30, 2012. Its highlights include references to the Lookout Hill Joint Venture in Mongolia where the company looks forward to development production from the Lift 1 underground operations on the Entree-OTLLC joint venture ground expected as early as 2015.
Australia identifies ‘pillars of productivity’ in ‘Asian Century’
The scale and pace of Asia’s rise in the coming decades offered opportunities for Australia across all sectors of the economy, including natural resources, Deputy Prime Minister and Treasurer Wayne Swan said in a statement following the release of Prime MinisterJulia Gillard’s foreign policy plan aimed at improving Asian ties.
Prophecy Coal reports results of Chandgana Tal PEA
Prophecy Coal has said a preliminary economic assessment (PEA) for its two Chandgana Tal mining licences contain an estimated 124 million tons of coal in the measured resources category, providing for a potentially economically viable project.
Herders file complaint with IFC against World Bank aid to OT
A group of Mongolian herder households filed a complaint demanding just compensation for the impacts of Rio Tinto’s Oyu Tolgoi copper and gold mine and its associated facilities in the South Gobi desert. Despite the OT Project’s numerous problems, the World Bank’s International Finance Corporation (IFC) and Multilateral Insurance Guarantee Agency (MIGA) are considering a financing package of US$900 million in loans and up to US$1 billion in political risk insurance.
Aspire’s Ovoot likely to grow into Tier 1 resource
Aspire Mining Ltd. has already defined the second largest coking coal reserve in Mongolia, after TavanTolgoi, and additional coal intersected during drilling outside the existing resource at its Ovoot coking coal project could increase the size. There is still plenty of room for Ovoot to grow into a Tier 1 resource, with only around 20% of the Ovoot Basin explored by Aspire.
Rio Tinto provides free Olympic medals metal, and comes under fire
Those with axes to grind have been out there for some months trying, but mostly failing, to make their political points criticising the environmental record of the provider of the metal which goes into the minting of the Olympic gold, silver and bronze medals. Virtually all of this metal is being donated by Kennecott, the Rio Tinto subsidiary which operates the huge Bingham Canyon mining complex outside Salt Lake City in Utah.
