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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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