Mongolia’s prime minister is pushing to end the deadlock with Rio Tinto Group (RIO) over the expansion of the Oyu Tolgoi copper and gold mine by the end of this year, according to an industry official of the landlocked nation.
Prime Minister Altankhuyag Norov sent an order to solve the dispute by the end of this year to government departments...
Russia, China & Mongolia Begin Trilateral Talks
The first round of talks will take place at the deputy foreign minister level and focus on transit corridors.
Following up on Vladimir Putin’s September invitation for trilateral talks, Russian, Chinese and Mongolia deputy foreign ministers met in Ulaanbataar for the first-ever Russia-Mongolia-China trilateral consultation. Russian Deputy...
Rio Tinto poised for write-off on delayed Mongolian copper mine
RIO TINTO looks set to take a $US2.5 billion writedown on its huge but troubled copper project in Mongolia.
Construction of the $US5 billion Oyu Tolgoi mine has become ensnared in a tax dispute with the government.
The mine has the potential to transform an economy that is on a par with Angola or Swaziland in national income per head. The International...
Fitch: Mongolian Banks Face Rising Risks from Subsidised Mortgages
(The following statement was released by the rating agency) HONG KONG, October 31 (Fitch) Mongolian banks' mortgage exposure continues to rise amid the government's commitments to provide affordable housing to low- to medium-income households, and to contain inflation, Fitch says in its Asia-Pacific Banks: Chart of the Month report. Ongoing securitisation...
Mongolia Eager for Oyu Tolgoi Deal by Year End, Official Says
Mongolia’s prime minister is pushing to end the deadlock with Rio Tinto Group (RIO) over the expansion of the Oyu Tolgoi copper and gold mine by the end of this year, according to an industry official of the landlocked nation.
Prime Minister Altankhuyag Norov sent an order to solve the dispute by the end of this year to government departments...
Russia hails ties with China, Mongolia as trilateral consultations open
ULAN-BATOR, October 30. /TASS/. Russia is satisfied with a dynamic pace of ties with China and Mongolia, Deputy Foreign Minister Igor Morgulov said in his opening remarks at the first Russian-Mongolian-Chinese consultations at the deputy foreign ministerial level.
Russia,...
Mongolia Coal Miners ‘Burning Cash’ as Prices Drop, Moody’s Says
Mongolian coal producers are “burning cash” and face pressure in the next 12 months because low prices and weak demand from China will persist, according to Moody’s Investors Service.
Coking coal at Queensland has declined 17 percent this year to $112.80 per metric ton on Oct. 16, extending annual losses since 2010, according...
Rail options open for Aspire's Mongolian coal
PERTH (miningweekly.com) – The shareholders of coaldeveloper Aspire Mining on Monday smiled on the news that the company’s Ovoot project, in Mongolia, had been presented with a rail solution.
The Mongolian government recently...
Inner Mongolia: Hundreds of Herding Families Forced Off Their Pastures
As part of an ‘ecological recovery’ program, Chinese authorities have evicted hundreds of Mongolian herders and their families from their pastures. It is suspected that the confiscated land will be used for strip-mining and exploited for its natural...
Rio Tinto has withheld $US4.2 billion needed to push ahead with giant Mongolian copper venture
Rio Tinto is leaving $US4.2 billion in financing needed to move forward its troubled Oyu Tolgoi project in limbo until the miner can get greater clarity from the Mongolian government.
Rio copper boss Jean-Sebastien Jacques told Fairfax Media on Tuesday that the miner had not requested a formal extension to a lapsed deadline for project financing...
Mongolian women 'want status over big families'
A new study suggests the aspirations of women in Mongolia have rapidly shifted. Before the rapid economic transition of the 1990s, the wealthiest women in the Communist-style era had big families. However, women today are less interested in babies and driven more...
State Bank to Issue JCB Debit Card in Mongolia
Tokyo and Ulan Bator, Oct 14, 2014 - (ACN Newswire) - JCB International Co, Ltd. ("JCBI"), the international operations subsidiary of JCB, and State Bank, a government-run bank in Mongolia, are pleased to announce a new partnership for issuing JCB branded cards to the people of Mongolia. State Bank plans to launch debit card issuing in the spring of...
Mongolia will never host US military base - president
Mongolia will never host an American military base, Mongolian President Tsakhiagiin Elbegdorj said Monday in an exclusive interview with TASS.
“When we ask Mongolian residents with which country it is necessary to cooperate, statistics show 60% prefer Russia, 15-20% choose China,” Elbegdorj, who was in Moscow for several hours prior to his visit...
The pits
Mongolia loses its shine—and some of its treasured autonomy
Oct 11th 2014 | ULAANBAATAR | From the print edition
NOT long ago Mongolia seemed a blessed land, with growth rates—over 17% in 2011 and around 12% in each of 2012 and 2013—that were the envy of the world. Mining was the promise in a country with annual GDP per...
