Recent news
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.
Chinese White Paper pledges international REE cooperation
In the first white paper of its kind on the country’s rare earth industry, China has pledged to improve relevant laws and regulations, as well as cooperate internationally on rare earth exports and the development of new rare earth technologies.
Most of China’s ODI in Q1 went to minority deals
Resource deals dominated China’s outbound investment of $21.4 billion in the first three months of 2012, with assets in South America the most sought after by mainly State-backed buyers, a study shows.A $4.8-billion deal struck in March by state-controlled Sinopec, China’s second-largest oil-and-gas producer, for 30% of Petrogal Brazil was the quarter’s single biggest deal and one underlining an emerging trend of China purchasing minority stakes.
Most of China’s ODI in Q1 went to minority deals
Resource deals dominated China’s outbound investment of $21.4 billion in the first three months of 2012, with assets in South America the most sought after by mainly State-backed buyers, a study shows.A $4.8-billion deal struck in March by state-controlled Sinopec, China’s second-largest oil-and-gas producer, for 30% of Petrogal Brazil was the quarter’s single biggest deal and one underlining an emerging trend of China purchasing minority stakes.
Most of China’s ODI in Q1 went to minority deals
Resource deals dominated China’s outbound investment of $21.4 billion in the first three months of 2012, with assets in South America the most sought after by mainly State-backed buyers, a study shows.A $4.8-billion deal struck in March by state-controlled Sinopec, China’s second-largest oil-and-gas producer, for 30% of Petrogal Brazil was the quarter’s single biggest deal and one underlining an emerging trend of China purchasing minority stakes.
“A bark of hope” for missing miners
Two year-old Ginny--a beautiful, brindled-coloured Dutch Shepherd living in Virginia--carries considerable weight on her slender shoulders as a four-legged pioneer in mine rescue.While friendly and sweet-natured during brief introductions at the 2012 National Search and Rescue Conference in Lake Tahoe, Nevada, Ginny is all business when it comes to doing her job as the world’s first mine search and rescue dog, trained to perform search and rescue in both underground and surface mines.
RUSAL Q1 net profit plunges 84%
Russia’s UC RUSAL Plc, the world’s biggest aluminium producer, posted an 84% drop in first-quarter net profit as prices fell, potentially fuelling a shareholder row over the company’s refusal to sell its stake in Norilsk Nickel.RUSAL’s management, led by its controlling shareholder Oleg Deripaska, has resisted pressure to dispose of its 25-percent share in the world’s largest nickel and palladium company to pay down debts at a time when aluminium markets are weak.
Company defends seafloor phosphate mining in Namibia
The proposed seafloor phosphate mining project in Namibia will be undertaken in an environmentally responsible and sensitive manner. Technology is available to ensure minimal environmental interference and the phosphate mining planned will be even more sensitive to the environment than current diamond marine mining in the area, says Namibian Marine Phosphate project GM DavidWellbeloved, himself a yachting enthusiast and sea lover.
Ivanhoe Mines wants to be called Turquoise Hill Resources
If ever there was any doubt about what Rio Tinto was really after in its pursuit of Canadian miner Ivanhoe Mines, the answer has now become clear. Ivanhoe Mines recently said it would ask shareholders in June to approve a new name for the company: Turquoise Hill Resources.
Mongolia: Caught between democratisation and Rio Tinto
Mongolians have recently evoked the spirit of their founder, Genghis Khan, who built the Mongolian empire in 1206. Everywhere you go, he is omnipresent, and for good reason. Having had to face giants such as the Soviet Union and China in the last few hundred years, Mongolia is now embarking on a new journey and taking on one of the world’s mining giants, Rio Tinto.
MMJ new issue
You will come across the word “strategic” frequently in the present issue of the MMJ, especially on the pages in Mongolian. One reason for this is that this issue covers various aspects of the law regulating foreign investment in strategic sectors. Another is that we begin in this issue a comprehensive introduction to the 39 deposits listed as strategic.
The final days are upon us
Between this issue and our next, Mongolia will be in the grips of election fever, and that is my excuse for laying aside matters financial or economic for this month’s column. I shall not stray from our consistent and scrupulously followed policy of not commenting on domestic partisan politics, but I am as interested as anybody else in the outcome and how it is achieved.
ETT pushes back market debut to 2013 Q1
ErdenesTavanTolgoi, owner of one of the largest coking coal deposits in the world, has pushed back plans for its international share market debut to the first quarter of 2013.Chief Executive B.Enebish has said a listing in February or March next year was “more realistic” than hopes of a market debut in 2012.
ETT pushes back market debut to 2013 Q1
ErdenesTavanTolgoi, owner of one of the largest coking coal deposits in the world, has pushed back plans for its international share market debut to the first quarter of 2013.Chief Executive B.Enebish has said a listing in February or March next year was “more realistic” than hopes of a market debut in 2012.The state-owned company is planning to list 29 percent of its shares in a float that analysts expect could raise about $3 billion.
Need to change our fuel and energy perspective
This month I wish to discuss a new strategic perspective on sustainable development of fuel and energy.
We Mongolians do not take kindly to any change in the terms that we are accustomed to.
