The Mongolian Mining Journal

Rosneft to supply oil worth $1 billion in five years Rosneft has signed two 5-year contracts for oil products supplies with Magnai Trade and Shunkhlai, committing itself to supply more than one million tons of oil products worth more than $1 billion at current prices between June 2014 and May 2019.

“Mongolians must ask their own questions, find their own answers” Dr Julian Dierkes is associate professor at the Institute of Asian Research at the University of British Columbia in Canada. He has been a regular visitor to Mongolia in the past ten years and writes on developments in the country in various journals.

AN ECONOMIC IMPACT ASSESSMENT OF THE IRON ORE SECTOR IN MONGOLIA Mongolia’s iron ore sector is high cost, small size, and low quality that impedes the competitiveness and is unattractive to investors

Newera begins coal magnetic survey at Ulaan Tolgoi The recently started ground magnetic survey covering the northern sector of Newera Resources’ Ulaan Tolgoi project in the South Gobi basin is expected to be completed within two weeks.

China approves opening-up of Erenhot border areas A new experimental area for development and opening up at the border of north China’s Inner Mongolia Autonomous Region has been approved. It is a breakthrough for Erenhot, an inland port city which borders Mongolia, coming after two years of preparations.

“The amendments will reintroduce a sense of urgency to the mining sector” B.Baatartsogt, head of the geological policy department of the strategic policy and planning authority at the Ministry of Mining, was part of the working group on amendments to the Minerals Law, to bring it in sync with the recently adopted State Policy in the Minerals Sector. N.Ariuntuya talks to him on the amendments, now awaiting discussion in Parliament.

Prescription vs practice Prescriptive prudence usually has no chance when pitted against political expediency. Some populism is inherent in democratic practice – after all the whole business is of, by, and for the people, we are told – and even if expediency is bad, there is no guarantee that the untried prescription would have been actually better.

Mongolian team visits multi commodity exchange in Mumbai A high level 5-member delegation from Mongolia recently visited the Multi Commodity Exchange of India in Mumbai to get familiar with the various operational, economic and self-regulatory aspects linked to successfully operating a commodity exchange. The delegation was led by O. Erdenebulgan, Vice Minister, Ministry of Mining.

Future Mongolia 2014, Ulaanbaatar, Mongolia Future Mongolia 2014, Ulaanbaatar, Mongolia

Coal Processing and Mining Technology, Ulaanbaatar, Mongolia Coal Processing and Mining Technology, Ulaanbaatar, Mongolia

POSCO sets up subsidiary for SNG plant in Mongolia South Korea’s top steelmaker Posco has established a subsidiary to operate a synthetic natural gas (SNG) business that is planning extend operations to Mongolia.

Copper exports rise 53% in March, coal, oil and gold also up Figures released by the National Statistical Office show that Mongolia exported 53 per cent more copper concentrate in March than in the same month last year, mainly because of rising output at Oyu Tolgoi.

First stability certificates under new law likely this month S. Javkhlanbaatar, Director General of the Foreign Investment Regulation and Registration Department at the Ministry of Economic Development, answers questions from S. Bold-Erdene of MMJ on how the new Investment Law is working.

Draft regulations governing investment agreements This is a translation of the just released draft regulations governing investment agreements under the new Investment Law. We have tried to keep the translation accurate but it is neither literal nor authorised.

Costly delay over a new petroleum law A draft petroleum law was submitted to Parliament almost a year ago, and it is surprising that our lawmakers have not yet had the time to discuss it.

Mongolia EITI report has been analyzed by students from UBC The Extractive Industries Transparency Initiative (EITI) is a global coalition of governments, companies and civil society working together to improve openness and accountable management of revenues from natural resource development.

Shenhua concedes environmental demands in Ordos project The Shenhua Group is to stop extracting groundwater for their flagship coal to liquid project in Inner Mongolia’s Ordos, an area struggling with severe water shortages affecting farmers and herders.

9 companies win Oyu Tolgoi Gobi Gem awards Nine companies were named as Oyu Tolgoi’s best Mongolian suppliers in 2013 at the fifth ‘Gobi Gem - Supplier Recognition Awards’ ceremony in Ulaanbaatar last month.

Erdenes TT starts receiving money for West Tsankhi coal sale Erdenes Tavan Tolgoi Chief Financial Officer B. Enkhbat has revealed that the company received $17 million on 18 April from contracts signed with eight buyers for 4.25 million tons of coal.

‘Break time’ beckons We owe the clever phrase to L.Bayaraakhuu, CEO of the Mongolian Association of Metal Producers, who recently said his organisation hoped the industry would be able to revive itself in the ‘break time’ that appears to be almost upon us.