The Mongolian Mining Journal

Enkhsaikhan M., Head of the Tavan Tolgoi Power Plant Project: The Magazine Is A Reliable Source Of Information Not Only For Mongolians Enkhsaikhan M., Head of the Tavan Tolgoi Power Plant Project: The Magazine Is A Reliable Source Of Information Not Only For Mongolians

“Complete oversight of all transactions has been arranged” This is the interview with Ts. Sedvanchig,until recently Executive Director of ErdenesOyuTolgoi, that created a stir in the international media. Ts. Sedvanchigwas answering questions a few days after the first shipment from OyuTolgoi was exported.

Mongolia says Mongolian laws have been breached The Government of Mongolia and Rio Tinto have been in long discussion over a series of issues regarding the OT project. It was not an authentic intention of the Government of Mongolia to disrupt the concentrate export but instead there is a mutual aim to start the export as soon as all procedures are in line with Mongolian legislative framework.

The Secret wealth of OYU TOLGOI In the past 4 to 5 years, one reason of Mongolian economy has become attractive to foreign investors was related to the development of the OT project. Political figures and experts have acknowledged this.

With suspension of Grasberg mine, Indonesia’s smelter searches for other copper suppliers Indonesia’s sole copper smelter, PT Smelting, is negotiating with suppliers of copper concentrate as a result of operations being temporarily halted at the Grasberg mine in Papua, Indonesia.

Rio Tinto to begin shipping copper from Oyu Tolgoi mine on Friday Reuters reports that shipments of copper from the Oyu Tolgoi mine will begin on Friday, June 14th. Oyu Tolgoi is critical to Rio Tinto, which is the majority owner of the mine, not only because of the scale of the operation—which is expected to produce 330,000 tons of copper each year for the next ten years, as well as 495,000 ounces of gold—but also because the company would like to reduce its dependence on iron ore and rid itself of small and unprofitable assets.

Chinese nationals suspected of illegal gold mining arrested in Ghana More than 100 Chinese nationals have been detained by police in the Ashanti region of Ghana. The Chinese citizens are suspected of illegally participating in gold mining. The detentions are part of a larger effort to stop illegal gold mining in the West African country, which is the second largest producer of gold on the continent after South Africa.

Mongolia plays host the United Nations’ World Environment Day On June 5th, Mongolia played host to the United Nations’ World Environment Day. President Elbegdorj spoke at the event and said that Mongolia hopes to become a leader in renewable energy.

Coal export income decreased by 43.4 percent YoY National Statistic Committee reported that in the first 5 months of 2013 the coal export reached 6.331 million tones.

”Future Mongolia” also offers many chances for Mongolian companies ”Future Mongolia”, taking place once again over a period of four days (19th – 22nd June) in the Buyant Ukhaa sports complex, marks the second time that a capital goods trade fair has been organised to European standards in Mongolia.

Mongolia and Zambia seeking to close tax loopholes for multinational corporations Currently, multinational corporations are finding ways to take profits out of developing countries without taxation. Both Mongolia and Zambia claim they are losing billions of dollars in tax revenue because of loopholes and are seeking ways to prevent this from happening in the future.

Chinese smelters await copper concentrate from Oyu Tolgoi An accident at the Grasberg mine in Indonesia which killed 28 people is causing concern at Chinese smelters because copper supplies are decreasing.

“Non-responsiveness is a sign of refusal, but it happens very rarely.” In this interview, the Mongolian Ambassador to Australia, R. Bold, addresses a wide range of issues related to Australia and of great importance to Mongolia. Among the topics he discusses are whether Mongolia can learn from the Australian model of development and whether the Australian government is attempting to improve communication between Rio Tinto and the Mongolian government.

A mine containing copper and gold has been discovered in northwest China According to the Chinese state news agency Xinhua, Geologists have discovered a large gold mine in the western part of Xinjiang Province in the Ili Valley, near the border with Kazakhstan. The mine is believed to contain more than 53 tons of gold, worth about $3.2 billion.

A New President The presidential election marathon has begun. We will see politics unfold until the 26th of June, the day the ballots are taken in, and maybe, even all summer long.

One thousand march as twenty-eight feared dead in collapse of training center at Grasberg mine High in the mountains of an isolated region of Indonesia an underground training facility which is part of Grasberg mine collapsed last Tuesday. Ten people have been rescued, but 14 are confirmed dead and another 14 are still missing and are also feared dead.

Erdenes Tavan Tolgoi to mine the West Tsankhi coal area Erdenes Tavan Tolgoi plans to start mining coal in the West Tsankhi area. The goal is to increase the company’s production to pay off debts of $186 million to Aluminum Corporation of China or Chalco and $200 million to the state-owned Development Bank of Mongolia.

Oyu Tolgoi to begin shipping copper earlier than expected Rio Tinto appears to be on course to ship copper from the Oyu Tolgoi earlier than was anticipated. Sam Walsh, the company’s CEO, has indicated that it has settled its differences with the Mongolian government and is ready to move ahead.

JICA study doubts if coal sector can expand much B. Altsukh, Director of the Coal Department at the Mining Agency since 2012, started his career in the Baganuur mine as a mining engineer, rising to become its Deputy Director, before moving on to work as a senior expert at the Ministry of Fuel and Energy and then at the Ministry of Mineral Resources and Energy.

Genie Energy enters agreement with Mongolia to explore oil shale resources Genie Energy announced that its subsidiary, Genie Oil Shale Mongolia (GOSM), has received authorization to work with the Petroleum Authority of Mongolia (PAM) to “explore and evaluate” oil shale resources in Central Mongolia.