Mongolia Online | Published News

Earthquake hits eastern Mongolia

mongoliaonline — Fri, 30 Jul 2010 00:42:58 EDT

An earthquake measuring 4.9 on the Richter scale hit Zuunbayan County, Dornogobi Province, in eastern Mongolia Friday morning, the Mongolian Astronomical and Geophysical Research Institute said.

A researcher from the institute said the epicenter was initially determined at 44.5 degrees latitude and 109.6 degrees longitude, 30 km west of Zuunbayan County and 250 km from

1 Vote(s)

Fifth Women's Chess GP held in Mongolia

mongoliaonline — Fri, 30 Jul 2010 00:36:47 EDT

The fifth Women's Chess Grand Prix opened in Mongolia on Thursday.

FIDE President Kirsan Ilyumzhinov said,"the tournament is the highest ranking in the history of women's chess championships and tournaments.

In the tournament, four former world champions will compete simultaneously.

1 Vote(s)

Mongolia Sunrise to Sunset: One family's story

mongoliaonline — Fri, 30 Jul 2010 00:34:28 EDT

A group of SOFA-sponsored runners from Okinawa spent last week competing in the Mongolia 100K and 42K ultra-marathon running races.

Highlighting the group’s feats, Anna Boom took first in the women’s division and placed fifth overall in the 100K race. Two high school-aged students, Avery and Corinne Lennard, each took part in the 42K race;

1 Vote(s)

EBRD and Mongolia’s Khan Bank sign first co-financing facility

mongoliaonline — Thu, 29 Jul 2010 03:11:26 EDT

The FINANCIAL -- The EBRD and Mongolia’s largest bank Khan Bank have signed a participation agreement for USD 10 million under the EBRD Medium-Sized Co-Financing Facility (MCFF).

"The MCFF is designed to provide co-financing by EBRD for up to 50 per cent of Khan Bank’s loans to selected customers. This will allow Khan Bank to expand its lending capacity pro

7 Vote(s)

Japan, Mongolia agree to cooperate on mineral resource development

mongoliaonline — Thu, 29 Jul 2010 03:05:22 EDT

TOKYO, July 29 (AP) - (Kyodo)—Japan and Mongolia agreed Thursday to closely cooperate with each other in the development of mineral resources and energy in Mongolia through technology transfer and investment, Japanese officials said.

Chief Cabinet Secretary Yoshito Sengoku met with visiting Mongolian Mineral Resources and Energy Minister Dashdorj Zorigt and brief

7 Vote(s)

Chalco trading lanced amid Chinalco's Ivanhoe talks

mongoliaonline — Thu, 29 Jul 2010 02:48:08 EDT

Aluminum Corporation of China (Chalco) has suspended its shares pending an announcement on an ''important discussion''.

Chalco's parent company, Chinalco, is in talks with Rio Tinto to buy a stake in the $US4.6 billion ($A5.09 billion) Oyu Tolgoi mine in Mongolia or the British company's partner in the project, Ivanhoe Mines.

7 Vote(s)

US secretary of state to visit Mongolia next year

mongoliaonline — Tue, 27 Jul 2010 01:27:37 EDT

ULAN BATOR - US Secretary of State Hillary Clinton will pay an official visit to Mongolia next year, Mongolian media said Monday.

Mongolian Foreign Minister Zandanshatar Gombojav met Clinton on the sidelines of the foreign ministers' meeting of the Association of Southeast Asian Nations (ASEAN) held in Hanoi, Vietnam, from July 22 to 23.

1 Vote(s)

Mirfield horse rider Susi saddles up for Mongol Derby

mongoliaonline — Mon, 26 Jul 2010 13:38:27 EDT

A horse rider from Mirfield is preparing for the challenge of her life as she heads to Mongolia to take part in a 600 mile dash on horseback.

Susi Sadler is one of just a handful of British riders joining the epic race across the bleak Mongolian Steppe.

1 Vote(s)

Sumo: Hakuho 1st to three-peat with perfect 15-0 records

mongoliaonline — Sun, 25 Jul 2010 00:15:10 EDT

A day after capturing his 15th career title, Mongolian grand champion Hakuho capped off a stellar performance with a superhuman feat against ozeki Baruto on Sunday, making him the only man in the history of sumo to win three consecutive meets with perfect 15-0 records.

25 Vote(s)

Beyond Hakuho: Advancing Japan-Mongolia Relations

mongoliaonline — Sat, 24 Jul 2010 00:07:32 EDT

Tokyo -- To the extent that Mongolia receives any attention in contemporary Japan, it is usually in the context of the minor scandals of former Yokozuna Asashoryu and the splendid recent performances of Yokozuna Hakuho.

It would be a mistake, however, to leave it at that, because Japan-Mongolia relations do seem to be picking up some momentum in recent months.

26 Vote(s)

Heat Wave Sweeps across Mongolia

mongoliaonline — Sat, 24 Jul 2010 00:02:07 EDT

Heat waves will continue to sweep across many parts of Mongolia until Aug. 25, Mongolia's meteorological authorities reported Saturday.

With temperatures at 36-39 degrees Celsius, the eastern part of the country and the areas along River Orhon and River Selenge in northern Mongolia will experience a sultry weather in the summer heat, reported Mongolia's Institute of Me

26 Vote(s)

Cornwall to Mongolia

mongoliaonline — Fri, 23 Jul 2010 00:11:03 EDT

The Mongol Rally is 10,000 miles of mountains, deserts, and bad roads.

Yet the prospect of no such luxuries as motorways and service stations certainly appeals to the adventurers of Cornwall.

The latest explorers to take up the Mongol Rally are David Sawyer and Matt Hawkins.

The duo have spent hours training for the event, or have they? Matt says the in

26 Vote(s)

Inquest to be held into shooting of Bath man in Mongolia 13 years ago

mongoliaonline — Thu, 22 Jul 2010 23:48:14 EDT

An inquest will finally be held next week into the shooting 13 years ago of an agricultural consultant from Bath in Mongolia.

A police investigation into the death of Tim Jarman in the Asian country was closed in 1999 but the Avon coroner’s office says it is only now that it has the right paperwork for a hearing to take place.

The inquest into the 50-year

20 Vote(s)

Mongolia Coal Railway Will Link with Russia

mongoliaonline — Thu, 22 Jul 2010 23:40:29 EDT

Mongolia and Russia may speed up its previous talks to establish a joint venture Dornod Uranium and modernization of railway and mining cooperation, the 14th Mongolia-Russian inter-governmental commission meeting agreed in protocol, which concluded this week in Ulaanbaatar.

During the meeting, in which Russian side is represented by visiting Transportation Minister Igor Levitin, sides

20 Vote(s)

Mongolia - Departing Country Manager Shares His Thoughts on Mongolia’s Economic Growth

mongoliaonline — Thu, 22 Jul 2010 03:30:09 EDT

Ulaanbaatar, July 22, 2010 – Today representatives from the banking sector, private sector, academic community, media and the public attended a public lecture, presented by Arshad Sayed, titled ‘Mongolia's economic growth: what’s next?’.

Arshad, who has held the position of resident representative of the World Bank Mongolia office, shared fin

1 Vote(s)

Fluor agrees to proceed with Mongolia mine project

mongoliaonline — Wed, 21 Jul 2010 23:43:57 EDT

Fluor Corp. said Thursday it will book $1 billion in the second quarter for work tied to a copper and gold mine in southern Mongolia.

The work of Fluor, an Irving, Texas-based engineering and construction firm, will include overall program management and engineering, procurement and construction management for construction of parts of the mining complex.

That encompasses constr

20 Vote(s)

Fluor Receives Notice to Proceed for Ivanhoe Mines Project in Mongolia

mongoliaonline — Wed, 21 Jul 2010 23:35:47 EDT

IRVING, Texas, Jul 22, 2010 (BUSINESS WIRE) -- Fluor Corporation announced today that the company has reached an agreement with Ivanhoe Mines Ltd. to move forward with full-scale work at its gold and copper mine development project in southern Mongolia. Fluor's scope of work will include overall program management (PM) as well as engineering, procurement and construction manag

2 Vote(s)

Khan Mongolia Court Case Postponed

mongoliaonline — Wed, 21 Jul 2010 22:56:54 EDT

TORONTO, ONTARIO, Jul 22, 2010 (MARKETWIRE via COMTEX) -- Khan Resources Inc. announced today that the Mongolian Capital City Administrative Court has postponed the hearing of a case brought by its 100%-owned subsidiary, Khan Resources LLC which challenges the legal basis of a notice by the Mongolian Nuclear Energy Agency (NEA) to invalidate Khan Mongolia's exploration license

1 Vote(s)

Driving the Genghis Goddess to Mongolia for charity

mongoliaonline — Wed, 21 Jul 2010 22:48:42 EDT

Marco Kesseler, Tom Jamieson, Jon Choksye and Edd Macey are driving to Mongolia in a 1953 Green Goddess fire engine. They have called it the Genghis Goddess and will join teams from around the world for the Mongol Rally challenge.

2 Vote(s)

Russia's En+Group, Renova want to develop Mongolian coal deposit - govt

mongoliaonline — Tue, 20 Jul 2010 22:29:10 EDT

Russian Transport Minister Igor Levitin confirmed on Wednesday that the Russian companies En+Group and Renova Group are interested in developing Mongolia's Tavan-Tolgoi deposit, together with Russian Railways (RZhD).

"We support new suggestions from the consortium to the working group of the Mongolian government on the integrated development of the deposit," Levitin said in a statement

1 Vote(s)

Giorgio Armani Opens First Stores in Mongolia, Vietnam to Tap Asian Demand

mongoliaonline — Tue, 20 Jul 2010 04:10:48 EDT

Giorgio Armani SpA, the Italian fashion company whose clothes are worn by celebrities including Angelina Jolie and Leonardo DiCaprio, said it opened its first stores in Mongolia and Vietnam as it seeks to tap Asian demand.

Emporio Armani boutiques opened in Ulan Bator, Mongolia and Ho Chi Minh City, Vietnam, where the clothier also added a cafe, the Milan-based compan

13 Vote(s)

Mongolian PM, U.S. envoy discuss bilateral ties, cooperation

mongoliaonline — Tue, 20 Jul 2010 04:02:10 EDT

Prime Minister Batbold Sukhbaatar on Monday discussed bilateral ties and cooperation with visiting U.S. Deputy Secretary of State of James B. Steinberg.

Batbold said Mongolia-U.S. relations are developing in good fashion and the two countries have made progresses in social, political and economic sectors, the official press office reported.

13 Vote(s)

Ivanhoe adds to 'core lender' group for $4,6bn Mongolia mine

mongoliaonline — Mon, 19 Jul 2010 03:54:31 EDT

TORONTO (miningweekly.com) – Vancouver-based Ivanhoe Mines has appointed BNP Paribas, Standard Chartered and Export Development Canada (EDC) to complete its core lender group of five financial institutions that will lead the arrangement of a project finance debt package for the Oyu Tolgoi copper and gold mining complex in Mongolia.

Ivanhoe said in May that it

13 Vote(s)

More lenders join group lining up financing for Ivanhoe's Mongolian project

mongoliaonline — Mon, 19 Jul 2010 03:08:04 EDT

LONDON - Ivanhoe Mines Ltd. has added three more lenders — including Export Development Canada — to a group arranging a debt financing package worth up to $2 billion for the Oyu Tolgoi copper and gold mining project in Mongolia.

The company said Monday that the agreement also includes Paris-based BNP Paribas and London-based Standard Chartered, and mark

13 Vote(s)

Khan Resources wins round in battle with Mongolian nuclear agency

mongoliaonline — Sun, 18 Jul 2010 23:27:26 EDT

TORONTO - Shares of Canadian uranium company Khan Resources Inc. jumped nearly 90 per cent after it announced it has won a round in its legal battle with the Mongolian Nuclear Energy Agency.

Shares in the company climbed 20.5 cents to 43.5 cents Monday on the Toronto Stock Exchange after an administrative court ruled the government agency had no legal authority to

1 Vote(s)

Mongolia’s president dives to Baikal’s bed

mongoliaonline — Fri, 16 Jul 2010 23:17:43 EDT

[Video] Mongolian President Tsakhiagiin Elbegdorj is going diving in Lake Baikal, using the Mir-1 submersible.

42 Vote(s)

Mongolian leader becomes first president to dive to bottom of Lake Baikal

mongoliaonline — Fri, 16 Jul 2010 22:52:45 EDT

Mongolian President Tsakhiagiin Elbegdorj became the first president to dive the bottom of the world's deepest lake, Baikal, in the Mir-1 mini-submarine, a representative for the Fund for the Protection of Lake Baikal said.

"Mongolian President Tsakhia Elbegdorj and a representative of the Fund for the Protection of Lake Baikal's advisory board, Mikhail Slepenchuk, explored the depths

42 Vote(s)

Rio, Ivanhoe Relationship Sours

mongoliaonline — Thu, 15 Jul 2010 03:17:11 EDT

SYDNEY—The close relationship between global miner Rio Tinto Ltd. and Canadian company Ivanhoe Mines Ltd. appears to be unraveling just as their biggest joint project starts moving toward production.

At the center of the dispute lies a slow-motion tug-of-war over control of Mongolia's Oyu Tolgoi mine, the world's largest undeveloped deposit of copper and gold, du

24 Vote(s)

Mongolia approves plan for coking coal IPO

mongoliaonline — Tue, 13 Jul 2010 22:13:38 EDT

Mongolian lawmakers have overwhelmingly approved a plan authorizing the government to raise $1.5 billion to develop the huge Tavan Tolgoi coking coal deposit through an overseas share sale.

The plan approved by parliament calls for selling a 30 percent stake in Erdenes-Tavantolgoi, the state-owned company that will develop the mine in the southern Gobi desert, to forei

51 Vote(s)

Family: man charged for not reporting missing man

mongoliaonline — Tue, 13 Jul 2010 22:03:14 EDT

CAPE GIRARDEAU, Mo. (AP) -- The father of a southeast Missouri man who died while hiking in Mongolia said another American faces charges for waiting too long to report the man missing.

Colin McLain, of Cape Girardeau, was working in Mongolia as a temporary legal adviser to the country's leaders when he was found dead in a national park in early July.

McLain's f

49 Vote(s)

Ivanhoe Surges During Rio Tinto Battle

mongoliaonline — Tue, 13 Jul 2010 03:24:54 EDT

NEW YORK (TheStreet) -- Shares of Ivanhoe Mines(IVN) are surging ahead by more than 12% on Tuesday morning as a battle is being waged with joint venture partner Rio Tinto(RTP) over control of a copper mine in Mongolia.

Shares of Ivanhoe were among the biggest gainers in the market on Tuesday morning after the mining company said it was sticking with a controversi

1 Vote(s)

Ivanhoe project drawing investor interest

mongoliaonline — Wed, 07 Jul 2010 23:27:30 EDT

Three early contenders. Billions needed for Mongolian mine

A Chinese aluminum company, a European development bank and a division of the World Bank have emerged as early contenders to invest in Oyu Tolgoi, the Mongolian mega-project controlled by Ivanhoe Mines Ltd. that is drawing huge interest from third parties.

When Vancouver-based Ivanhoe signed an investme

51 Vote(s)

Sojitz to Expand Coal Trade 18% With Access to Mongolian Mine

mongoliaonline — Wed, 07 Jul 2010 23:24:11 EDT

July 8 (Bloomberg) -- Sojitz Corp. will boost coal trading by about 18 percent after the Japanese trading company won an agreement from Prophecy Resource Corp. to market the fuel to China from a Mongolian mine.

Coal trading will rise to about 20 million metric tons a year in the year starting April 1, 2012, from 17 million tons, Yoshi

50 Vote(s)

Mongolia Plans to Offer 30% Tavan Tolgoi Company

mongoliaonline — Wed, 07 Jul 2010 22:56:15 EDT

July 8 (Bloomberg) -- Mongolia plans to sell 30 percent of a company controlling the Tavan Tolgoi coking coal deposit in share sales to help fund $1.5 billion of initial development cost, the mining minister said.

The share offerings may take place overseas or in Mongolia and a government-owned company will retain a 40 percent stake,

50 Vote(s)

In Mongolia, sex tourism by S. Korean males leads to anti-Korean sentiment

mongoliaonline — Wed, 07 Jul 2010 22:52:03 EDT

With Korean men contributing to growth of industry, the damage to Korea’s image has increased

South Koreans’ sex tourism to Mongolia remains widespread. According to an investigative report by The Hankyoreh, Mongolians accused South Korean tourists of spawning a culture of buying sex in their country. In 2002, a South Kor

51 Vote(s)

Family of man who died in Mongolia still awaiting autopsy results

mongoliaonline — Wed, 07 Jul 2010 22:31:15 EDT

The family of a local man who died on a hiking trip in Mongolia is still waiting on autopsy results through the U.S. Embassy there, the man's father said Wednesday.

Colin McLain, a 2003 graduate of Central High School, left for Mongolia in May to begin an eight-week "externship" for the legal adviser to the country's leader. He was found dead in Bogdkhan National Park after he was repo

21 Vote(s)

2 Michigan natives to embark on journey to Mongolia

mongoliaonline — Wed, 07 Jul 2010 22:18:16 EDT

Two Michigan natives are going on the ultimate adventure to cross more than a third of the earth’s surface.

Ross Lewicki, 26, of Detroit and Todd Callahan, 25, a former Grosse Pointe resident, are gearing up for the 2010 Mongol Rally. It’s a thrilling and potentially dangerous international driving race hosted by a United Kingdom-based adventure company.

20 Vote(s)

Rio Tinto says Chinese aluminum company wants stake in Ivanhoe or Mongolian mine

mongoliaonline — Wed, 07 Jul 2010 08:49:44 EDT

MONTREAL - Rio Tinto says a Chinese aluminum company is interested in buying a minority equity stake in Ivanhoe Mines Ltd., or a direct interest in Ivanhoe's US$4.6-billion Oyu Tolgoi copper and gold development in Mongolia.

In a filing Wednesday with U.S. regulators, the London-based global mining giant said it continues to talk with the Aluminum Corporation of China (Chinalco) -

16 Vote(s)

EBRD: First local currency financing for micro and small businesses in Mongolia

mongoliaonline — Wed, 07 Jul 2010 01:57:01 EDT

The FINANCIAL -- The EBRD is boosting the availability of local currency financing in Mongolia with a synthetic loan in Mongolian Togrog worth $8 million to XacBank for on-lending to local micro, small and medium-sized enterprises (MSMEs).

Established in 1998, XacBank is the second largest microfinance bank in Mongolia, with a wide network of branches throughout the co

17 Vote(s)

Mongolia promotes use of traditional script

mongoliaonline — Wed, 07 Jul 2010 01:52:08 EDT

ULAN BATOR, July 6 (Xinhua) -- Mongolian President Elbegdorj Tsakhia on Tuesday issued a decree to promote the use of the traditional Mongolian script.

"Official letters by president, speaker of the parliament, prime minister and cabinet members of government to officials of other countries in similar positions shall be written

5 Vote(s)