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Power plant delays fuel tensions over Rio's giant Mongolia copper mine

By: Reuters     13th September 2018 Nearly 10 years on from the launch of a giant copper and gold project in Mongolia, Rio Tinto is still looking to secure a domestic power source it needs for the mine under an agreement with the government. Oyu Tolgoi, located in the South Gobi region near landlocked Mongolia's southern border... 

Mongolian Parliament OKs plan to sell 30% of Tavan Tolgoi mine

By: Bloomberg     29th June 2018 Mongolian lawmakers approved a plan to sell up to 30% of the troubled Tavan Tolgoi coal mine in the Gobi desert, the latest attempt to develop what’s anticipated to be massive coking and thermal coal deposits. The north Asian country’s Parliament on Friday voted in favor of an initial public... 

Companies reach shaft sinking milestones

20th April 2018 Multinational mining company Turquoise Hill Resources’ Oyu Tolgoi copper/gold mine in Mongolia, has achieved significant underground development milestones with the completed sinking of two shafts this year. The Oyu Tolgoi, one of the world’s largest new copper/gold mines, is located in the South... 

As copper booms, miners take hunt to Mongolian dunes

By: Reuters     13th March 2018 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia's Gobi Desert. For years Rio Tinto has been the sole international copper mine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant... 

Mongolian court sides with government in copper mine ownership row

By: Reuters     1st March 2018 Mongolia's Constitutional Court ruled on Wednesday that Mongolian Copper Corporation (MCC) never had the right to 49 percent of one of Asia's biggest copper mines, supporting an earlier resolution by the government to buy back the stake. The ownership battle is set against the backdrop of miners... 

Mongolia says can build power plant to supply Oyu Tolgoi mine

By: Reuters     20th February 2018 Mongolia can build a power plant at its Tavan Tolgoi coal mine by 2021 to supply the Oyu Tolgoi copper project, energy officials said on Tuesday, as the government seeks to hold Rio Tinto to an agreement to use Mongolian power. Tensions have mounted between the Mongolian government and its... 

Mongolia's January coal exports drop nearly 25% from last year

By: Reuters     14th February 2018 Mongolia's coal exports dropped by nearly a quarter in January from a year earlier, with deliveries disrupted by ongoing congestion at the border with key trading partner China. The fall was part of a 6.3% year-on-year decline in overall mineral exports, according to data published by Mongolia's... 

Resource-rich Mongolia rejects cap on foreign workers for 2018

By: Reuters     13th February 2018 Mongolia will not put a cap on immigration in 2018, authorities said on Tuesday, after lawmakers rejected new policy proposals that set to put tough restrictions on the numbers of foreign workers in the remote north Asian nation. Some members of Mongolia's Parliament sought to limit the number... 

Rio Tinto strengthens presence in Mongolia with new exploration office

By: Creamer Media Reporter      22nd January 2018 Global mining major Rio Tinto will open a new office in “strategically important” Mongolia to strengthen its presence in a country in which it had already invested $7-billion in the last eight years. The office in Ulaanbaatar will be separate from Oyu Tolgoi – the large copper and gold mine that... 

MONGOLIA'S ZAMA-ZAMAS

By: Martin Creamer     9th June 2017 Illegal miners take a break in Mongolia's largest illegal coal mine, which is located 40 km from the capital city of Ulaanbaatar. Nobody knows for sure how many bodies are buried in the Nailakh mine’s makeshift pits, but it is said to suffer one fatality for every 56 000 t of coal mined, making... 

Turquoise Hill stocks rise despite narrower FY profit

By: Henry Lazenby     28th March 2017 The NYSE-listed stock of Rio Tinto subsidiary Turquoise Hill Resources rose sharply after market close on Monday, gaining nearly 6% to $3.24 a share, after the company reported a full-year profit for 2016 and a positive production outlook for this year. In 2016, Turquoise Hill recorded net income... 

Turquoise Hill restarts Oyu Tolgoi concentrate shipments

By: Henry Lazenby     15th December 2016 Canadian copper miner Turquoise Hill Resources has restarted shipments of copper concentrate from the Oyu Tolgoi copper/gold mine, in Mongolia, across the Chinese border. The Vancouver-based Rio Tinto subsidiary on Wednesday said talks with Chinese and Mongolian authorities have resulted in a new... 

Rio CEO says Mongolia won’t receive mine dividend for ten years

By: Bloomberg     7th October 2016 Rio Tinto Group said Mongolia won’t receive any dividend from the giant Oyu Tolgoi mine for ten years as the world’s second-biggest mining company prioritizes completing a $5.3-billion underground expansion. Oyu Tolgoi, which at its peak will be one of the top five copper mines in the world, is... 

Free-falling Mongolia won’t be saved by commodity revival

By: Bloomberg     25th August 2016 The commodity super-cycle that peaked in 2011 powered Mongolia to world-beating growth. Then came the bust and China’s recent economic slowdown that’s pushed the land of Genghis Khan into an unprecedented economic crisis this summer. Yet even though the commodity market finally has a pulse again... 

Mongolia ends fight over $100m mining licence arbitration

By: Reuters     7th March 2016 Mongolia has settled a dispute over an arbitration award that required it to pay more than $100-million last year to a Canadian miner for revoking a uranium mining licence, just as it launches a push this week to attract new exploration interest. "The government of Mongolia and Khan Resources... 

Prophecy expects to imminently award Mongolian turnkey contract

By: Henry Lazenby     20th August 2015 Canadian project originator Prophecy Development expects to close a binding turnkey engineering, procurement and construction (EPC) contract for its Mongolia-based Chandgana coal/energy project this quarter. The TSX-listed company advised on Wednesday that the preferred bidder would be ready to... 

Oyu Tolgoi concentrate thickener rake arms fail again

By: Henry Lazenby     10th September 2014 Turquoise Hill Resources, a subsidiary of diversified major Rio Tinto, on Tuesday reported that the rake arms in one of the two tailings thickeners at the Oyu Tolgoi copper/gold mine  had failed again. Having started production during last year, output at the massive mine was heavily impacted by... 

Mongolia awards coal licence to Modun Resources

By: Idéle Esterhuizen     11th July 2013 The Mineral Resources Authority of Mongolia (MRAM) has approved Australia-listed coal explorer Modun Resources’ application for a mining licence for the Nuurst thermal coal project, 120 km south of Ulaanbaatar. The mining licence had been granted over an area of 2 497 ha, covering the planned... 

Mine software provided for Mongolian mine engineering students

By: Zandile Mavuso     10th May 2013 Mining technology developer Maptek reports that it has given fourth-year mine engineering students at the Mongolian University of Science and Technology (MUST) in Ulaanbaatar, Mongolia, access to opencut and underground mine design, pit optimisation and geostatistical applications through its... 

Ivanhoe founder steps down as it agrees finance deal with Rio Tinto

By: Henry Lazenby     18th April 2012 TSX-listed Ivanhoe Mines on Wednesday said its founder and CE Robert Friedland resigned as part of a financing deal with Rio Tinto to see the Oyu Tolgoi copper/gold project in Mongolia through to the start of commercial production by 2013. Friedland resigned together with six other directors and... 

SA conveyance safety company awarded Mongolian contract

By: Gia Costella     30th March 2012 Horne Conveyance Safety, the Canadian subsidiary of the South African Horne Group, has installed Levelok chairing and emergency-braking systems on a cage earmarked for Canada-based international mining company Ivanhoe Mines’ Oyu Tolgoi No 1 shaft, in Mongolia 

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