Rio Tinto Group, the world's second-largest mining company, is locked in talks with Mongolia over developing the second stage of the Oyu Tolgoi copper and gold mine, saying only a few matters remain on the table.
"We are down to a few issues and these issues are deal breaker type issues," chief executive Sam Walsh said Saturday in an interview in...
Rio Tinto CEO says Nov plan to restart Oyu Tolgoi was "best and final offer
(Repeats story published on Saturday; no changes to text)
* Rio in talks with Mongolia on "detail" of Oyu Tolgoi restart
* Financing for second phase needs renegotiating
* Timing for completion of second phase still unclear
By Terrence Edwards
ULAN BATOR, March 28 (Reuters) - Proposals made to the Mongolian government by global mining giant Rio...
‘Mongolians in China are not free’
In December, a Chinese Mongolian teenager was exonerated from a crime he had committed in 1996. But it was a little too late: Huugjilt had been executed for the crime — the rape and murder of a woman in a public toilet — the same year. China’s state-controlled newspapers and news agencies splashed the news for days. Commentaries talking about judicial...
Rio Tinto CEO says Nov plan to restart Oyu Tolgoi was "best and final offer"
(Reuters) - Proposals made to the Mongolian government by global mining giant Rio Tinto last November to restart the long-delayed Oyu Tolgoi copper mine were the firm's "best and final offer" and won't be changed, Rio's chief executive said.
Rio submitted the proposals to resolve some outstanding issues, including a $127 million tax claim that has...
Investors fear for Mongolia's finances
HONG KONG, March 23 (IFR) - Mongolia will struggle to repay its debts in the next three years, analysts and investors have warned, if it is unable to reverse a drop in economic growth.
Despite the country's vast reserves of gold, copper and coal, weak commodity prices have weighed heavily on Mongolia's finances. GDP growth of 7.8% in 2014 is still...
Mongolia’s Dubious Merchant Navy
The country risks serious damage to its reputation with its questionable maritime activities.
With more than 250 days of sun a year, Mongolia’s moniker – Land of the Blue Sky – is well deserved; its association with the deep blue sea, though, is less obvious. The nation’s capital, Ulaanbaatar, is located more than 1,300 kilometres from the ocean,...
Oyu Tolgoi Files Statutory Feasibility Study
Turquoise Hill Resources today announced that Oyu Tolgoi has filed a statutory 2015 Oyu Tolgoi Feasibility Study (OTFS 2015) with the Mongolian Minerals Council (MMC). Under Mongolian law, Oyu Tolgoi is required to submit an update to the feasibility study at least every five years; the 2009 Oyu Tolgoi Feasibility Study was accepted in March 2010.
When...
Cold comfort in Ulan Bator, world`s chilliest capital
Ulan Bator: Clad in a fox fur hat and dog hair boots, Mongolian merchant Undrakhiin Batulzii says his compatriots have over centuries mastered the art of beating the brutal winters of the steppes.
Ulan Bator is regarded as the world`s coldest national capital and can see bone-chilling winter lows of minus 40 degrees Celsius, tough even for the hardy...
Diplomatic Access: Mongolia
Mongolian Ambassador to the U.S. Altangerel Bulgaa discusses Mongolia’s vision for Asia.
Image Credit: Official White House Photo by Lawrence Jackson
In our first interview, His Excellency Altangerel Bulgaa, Ambassador of Mongolia to the U.S., gives The...
Mongolian Institute for National Strategy interviews Byambasaikhan, CEO of Erdenes Mongol
There are not many examples globally where governments have successfully led “non-service related” businesses profitably and are “leaders in class”. In the mining sector the keys to success are to have a high quality orebody and world class management approaches, which implies a world class team.
In practice this means to be highly safe,...
