Mine
Khan Resources not alone in opting for arbitration
Toronto-based Khan Resources is gambling that an international arbitration case in Paris will allow it to regain control of a uranium project that, it claims, was illegally expropriated by the Mongolian government, leaving it with nothing but angry investors.
OT to produce more than Erdenet in 2014
The present year should see production volume at Oyu Tolgoi surpass that of Erdenet, according to the latest update on the project jointly presented by the Prime Minister and Erdenes OT directors in December.
Mongolia signs deal with illegal gold miners
The government has signed a deal with the country’s gold producers association, which aims to reduce illegal extraction of the metal by reducing barriers for them to become formal miners.
Shenhua to buy 1 billion tons of TT coal, build railway
Ya. Batsuuri, CEO of state-owned Erdenes Tavan Tolgoi, has said three mining companies have agreed to export 1 billion tons of coal to China’s Shenhua Group Corp. in the next 20 years. The total value of the exports at current prices would be about $50 billion
Erdenet Mining mulls copper cathode plant
Erdenet Mining Corp is carrying out a feasibility study for the construction of a 100.000-tpy copper smelter, according to commercial department head N. Enkhbaatar.
Fluorspar mining gets a boost
Fluorspar is not among the top export items in Mongolia, but is beginnings to play an increasingly important role in the country’s economy. Total production is 2012 was 420,000 tons, according to the United States Geological Survey (USGS), making it the world’s third largest producer.
How Mongolia became the mouse that roared
Turquoise Hill Netherlands is a little-known Amsterdam-based company with three employees, no office, and not even its own mailbox. To the government of Mongolia, though, the company represents billions in taxes that it will never see.
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.
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.
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.
