The Mongolian Mining Journal

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.

Revealed treasures draw superpowers to frigid Arctic field With Arctic ice melting at record pace, the world’s superpowers are increasingly jockeying for political influence and economic position in outposts previously regarded as barren wastelands.

New technology to process copper without smelting A plant is under construction in the once-thriving copper-mining area of the Northern Cape that will make use of a new low-power South African-developed technology that is able to process stranded copper ore concentrates into 98%-pure copper crystals without the need for any smelting.

Voyager to resume drilling at KhulMorit this year Voyager Resources plans to resume diamond core drilling in its 80% owned KhulMorit project later this year to focus on copper porphyry.

“It is not true that all State entities run at a loss” Ts.Nanzaddorj, the new head of the State Property Committee, tells O.Khostsetseg of the tasks ahead and privatisation plans.

Mines and Money London, UK, 4-5 December, 2012 Mines and Money London, UK, 4-5 December, 2012

Amen to those who say, “It’s not over” Granted he said this in a metaphysical vein and was certainly not thinking of metallic ones, there is much truth even for readers of this journal in Isaac Bashevis Singer’s comment, “Our knowledge is a little island in a great ocean of non-knowledge.

BaruunTsankhi: Low-key start to high-yield project Finally there is news from BaruunTsankhi, the biggest coalfield region in the vast TavanTolgoi deposit. A decision is yet to be taken on the choice of strategic investors to operate BaruunTsankhi, though on this depends outside perception of Mongolia’s stance on foreign investment.

GoldField Mining Expo Kalgoorlie, WA, Australia, 30 Oct – 01 Nov , 2012 GoldField Mining Expo Kalgoorlie, WA, Australia, 30 Oct – 01 Nov , 2012

Boroo Gold gets permission to resume heap leach operations Toronto-based Centerra Gold has received regulatory approval to resume heap leach operations at its Boroo mine, where operations were suspended in June, 2009, following charges of impropriety by the Mongolian government on issues such as record keeping, land use, and operational procedures.

GOVERNMENT ACTION PROGRAMME 2012-2016 Following approval by Parliament,the new government’s manifesto for its entire term has become the formal map for the country’s direction in the coming four years. We give below an English version of the parts of it that are of interest to our specialised readership.

West Tsankhi’s opening, commodity market West Tsankhi’s opening, commodity market

Mine closure policy- the “vaccine” for risks Mine closure policy- the “vaccine” for risks

Mines and Money Australia Sydney, Australia 15-17 October, 2012 Mines and Money Australia Sydney, Australia 15-17 October, 2012

Peabody is invited to cooperate in developing the West Tsankhi Erdenes Tavantolgoi , which has started to develop the Tavantolgoi’s “second” mine known as West Tsankhi , taken next step to progress its operation. The company’s sent to the Peabody Energy the proposal to cooperate in developing the West Tsankhi as a contract miner.

Petro Matad extends exploration period for XX block for 5 years Petro Matad has said it will spend up to US$47 million on exploration programmes on the XX block in Mongolia over the next five years. This comes as the Mongolian authorities extended the exploration period under the production sharing contract (PSC) for the block. Work at block XX has up until now focused on the DavsanTolgoi target, which disappointed last year.

Keeping the status quo in Rio MNMA head D. Damba is not happy with the address of Minister of Minerals D. Gankhuyag at this year’s Discover Mongolia. Damba feels it was short on specifics and gave eagerly waiting investors few clear indications of how the Government felt about several issues of seminal importance. I would not blame the Minister for this. His government is still pretty new and will take time to formulate a policy that addresses existing, or creates new, momentous concerns.

“Criteria to determine State’s share of strategic deposits should be clear and fair” In his first interview to the media since assuming office as director of the Mineral Resource Authority -- an Implementing Agency of the Government -- G.Altansukh answers wide ranging questions from G.Iderkhangai of the Mongolian Mining Journal.

Nippon Steel, Sumitomo Metal to expand Australia port Nippon Steel Corporation (“Nippon Steel”) and Sumitomo Metal Industries, Ltd. (“Sumitomo Metals”) have announced that they have decided to invest to expand capacity at Cape Lambert by 70 million tons per year, along with the replacement of existing port facilities (“Port Expansion”), which are jointly operated with Rio Tinto group (“Rio Tinto”) in the Pilbara region of Western Australia.

Anglo American to Cut Coking Coal Output - Executive Anglo American PLC plans to reduce coking coal output in the coming months as it reviews existing operations and projects in the face of weak prices and high costs, the miner’s coking coal chief said Wednesday as he warned industry-wide cuts will continue to deepen.