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Mongolian Mining Plans $700M IPO, Term Sheet Says

mongoliaonline — Wed, 25 Aug 2010 05:00:22 EDT

Sept. 1 (Bloomberg) -- Mongolian Mining Corp. is selling about $700 million of stock in an initial public offering, the first by a Mongolian company in Hong Kong, according to a term sheet sent to investors by the sale’s arrangers.

Mongolian Mining, formerly known as Energy Resources, plans to price its shares on Sept. 24 and start trading on Oct. 5, the term sh

490 Vote(s)

Master mechanic satisfied with working life in Mongolia

mongoliaonline — Wed, 25 Aug 2010 01:26:19 EDT

If moving up in the world means graduating from high school in Merritt and landing a high profile mining job in Mongolia, consider Bradley Bennett a perfect example.

After sitting in the front row of the Merritt Secondary School graduating class on a warm June day at the de-iced Nicola Valley Memorial Arena a few months ago, the 56-year-old heavy duty mechanic is now s

91 Vote(s)

NAR Forges Long Term Collaboration with Sinosteel Trading

mongoliaonline — Tue, 24 Aug 2010 06:02:11 EDT

Hong Kong, Aug 24, 2010 (ACN Newswire via COMTEX) -- North Asia Resources Holdings Limited ("NAR" or the "Company") announced that the Company has signed a memorandum of understanding (the "MOU") with Sinosteel Trading Co., Ltd. ("Sinosteel Trading") on 18 August 2010 for long-term cooperation with respect of the Company's iron ore mining operation in Mongolia.

Under the MOU, S

93 Vote(s)

China Day Ahead: Mongolian Mining's Hong Kong IPO Approved, Baoshan Loss

mongoliaonline — Tue, 24 Aug 2010 04:45:07 EDT

Mongolian Mining Corp. received approval from the Hong Kong Stock Exchange for a $1 billion initial public offering, the first by a Mongolian company in the territory, according to two people familiar with the IPO.

Mongolian Mining, formerly known as Energy Resources, plans to list as much as 25 percent of its freely traded shares after the initial sale, said the people, who declined t

487 Vote(s)

NYSSA Holds First Mongolia Investment Conference

mongoliaonline — Tue, 24 Aug 2010 04:38:45 EDT

NEW YORK--(BUSINESS WIRE)--The New York Society of Security Analysts (NYSSA) will hold its first conference on investing in Mongolia. Regional experts will discuss the country’s economic outlook and investment potential, and executives from Mongolian public companies will discuss their businesses.

Mongolia is expected to become one of the world’s fastest gr

486 Vote(s)

Mongolia is Least Attractive for Mining

mongoliaonline — Mon, 23 Aug 2010 16:12:23 EDT

Mongolia is seen as the world’s least attractive jurisdiction for mineral exploration and development, according to the survey released today by the Fraser Institute, Canada’s leading public policy think-tank.

The updated survey of international mining executives was conducted between June 1 and June 30.

37 Vote(s)

Mongolian Mining Said to Receive Approval for $1 Billion Initial Offering

mongoliaonline — Sun, 22 Aug 2010 17:40:54 EDT

Mongolian Mining, formerly known as Energy Resources, plans to list as much as 25 percent of its freely traded shares after the initial sale, said the peopl

198 Vote(s)

Khan Files Formal Claim Against ARMZ

mongoliaonline — Sat, 21 Aug 2010 00:39:41 EDT

TORONTO, ONTARIO, Aug 20, 2010 (MARKETWIRE via COMTEX) -- Khan Resources Inc. ("Khan") announced today that it has filed a statement of claim against Atomredmetzoloto JSC ("ARMZ") and its affiliate JSC Priargunsky Industry Mining and Chemical Union ("JSC PIMCU") with the Ontario Superior Court of Justice.

The statement of claim alleges, among other things, that the har

48 Vote(s)

Ivanhoe Mines defiant in Rio Tinto stoush

mongoliaonline — Tue, 17 Aug 2010 23:48:01 EDT

Ivanhoe Mines said its battle with Rio Tinto for control of Mongolia's Oyu Tolgoi mine was continuing.

It said it was sticking to a shareholders' rights plan that had led its project partner to go to arbitration.

The plan, adopted by Ivanhoe's board in April, could make it difficult for Rio to take a majority stake in Ivanhoe, which is developing Oyu Tolgoi, a

51 Vote(s)

Ivanhoe Sticks To Shareholders' Plan As Arbitration Continues

mongoliaonline — Tue, 17 Aug 2010 23:42:52 EDT

LONDON, Aug 17, 2010 (Dow Jones Commodities News Select via Comtex) --Ivanhoe Mines Ltd. (IVN.T) Tuesday said its battle with Rio Tinto PLC for control of Mongolia's Oyu Tolgoi mine is continuing, and it is sticking to a shareholders' rights plan that has led its project partner to go to arbitration, Ivanhoe said Tuesday.

The plan, adopted by Ivanhoe's board in April,

58 Vote(s)

SouthGobi shares slide 7.4% in Hong Kong

mongoliaonline — Tue, 17 Aug 2010 23:22:26 EDT

HONG KONG (MarketWatch) -- Shares of Mongolia-focused coal producer SouthGobi Resources Ltd. tumbled 7.4% in Hong Kong Tuesday. The day's steep fall in heavy trading volumes marks the fifth straight day of declines and came a day after the company's majority owner, Canada's Ivanhoe Mines Ltd., reported a $30 million loss.

59 Vote(s)

Mongolia can undercut Aussie coal export

mongoliaonline — Mon, 16 Aug 2010 06:25:38 EDT

Mongolia is emerging as a major competitor to Australian coal exports due to its vast untapped reserves, cost efficiency and close proximity to China.

Mining giant Leighton Holdings Ltd says Mongolia has at least has 10 to 15 billion tonnes of recoverable coal that could be supplied to China for less than US$100 per tonne.

Leighton Asia is the only internationa

37 Vote(s)

Mongolia races to meet China’s needs

mongoliaonline — Mon, 16 Aug 2010 02:50:25 EDT

SouthGobi Resources owns the right asset in the right place at the right time. The Hong Kong-listed Mongolian mining company is controlled by Ivanhoe Mines of Canada, and operates the Ovoot Tolgoi mine just 40km from the border with China.

Since March, Oovot Tolgoi has produced about 200,000 tonnes of coal a month, most of it destined for Chinese steel mines and power plants.

38 Vote(s)

As Mongolia develops, Canada leads the way

mongoliaonline — Sun, 15 Aug 2010 05:33:07 EDT

ULAANBAATAR, MONGOLIA – Instead of the traditional barbecues and fireworks that are part of Canada Day celebrations at home, Canadians here marked July 1 listening to a tuxedoed Mongolian baritone perform our anthem at an embassy reception outside a former dictator’s palace

Not surprisingly, many of the ex-pat guests were mining company executives. As Mongo

38 Vote(s)

Russia to consider possibility of setting up JV in uranium with Mongolia

mongoliaonline — Sat, 14 Aug 2010 05:11:35 EDT

Russian government has introduced into the lower house of the Russian Parliament, the State Duma, an intergovernmental agreement with Mongolia on setting up joint uranium mining company with limited liability Dornod Uran.

The agreement was signed by head of the Russian state corporation Rosatom Sergei Kirienko and head of the Atomic Energy Authority of Mongolia Sodnomy

38 Vote(s)

SouthGobi Resources Aims to Secure Second Mongolian Coal Mining License

mongoliaonline — Fri, 13 Aug 2010 05:02:58 EDT

SouthGobi Resources Ltd., backed by China’s sovereign wealth fund, aims to get a mining license for a second coal pit in Mongolia by the year-end.

The company will apply for a permit for the Soumber deposit in the coming months, Chief Executive Officer Alexander Molyneux said at a media briefing in Hong Kong today. About $205 million is needed to develop the mine

38 Vote(s)

New Entree Coal License in Mongolia

mongoliaonline — Fri, 13 Aug 2010 04:47:37 EDT

Entree Gold has received a mining license covering the Nomkhon Bohr coal discovery, which was outlined through exploration efforts in 2008-2009.

The new mining license comprises about 14,030 hectares and covers the north-west corner of the former Togoot exploration license.

The portion of the property included in the mining license is mainly underlain by Permian sediments, whic

51 Vote(s)

Erdene Provides Project Updates and Second Quarter Financial Results

mongoliaonline — Fri, 13 Aug 2010 02:59:19 EDT

HALIFAX, NOVA SCOTIA, Aug 12, 2010 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. today provided an update on its principal projects in conjunction with the release of its second quarter 2010 financial results.

47 Vote(s)

FACTBOX-Key political risks to watch in Mongolia | Energy & Oil | Reuters

mongoliaonline — Wed, 04 Aug 2010 01:13:55 EDT

BEIJING Aug 2 (Reuters) - Landlocked Mongolia sits on vast quantities of untapped mineral wealth and analysts say it could be one of the fastest growing economies of the next decade, as well as a key investment target for global mining giants.

The $5 billion Oyu Tolgoi project, jointly owned by Ivanhoe Mines (IVN.TO: Quote) and the Mongolian government, will be the wor

35 Vote(s)

JBIC: In Pact With Mongolia For Energy, Minerals Cooperation

mongoliaonline — Wed, 04 Aug 2010 01:02:46 EDT

TOKYO, Aug 03, 2010 (Dow Jones Commodities News via Comtex) -- Japan Bank for International Cooperation said Tuesday it has signed an agreement with the Mongolian government to enhance ties in the areas of energy and mineral resources.

Through this, JBIC hopes to help Japanese companies seal more deals in the central Asian country, the Japanese national bank said in a

42 Vote(s)

Mongolia may kill Aussie coal: Friedland

mongoliaonline — Tue, 03 Aug 2010 23:32:44 EDT

Mongolia's lower-tax coal sector could rob global market share from Australia, Canadian billionaire mining executive Robert Friedland says.

Mr Friedland, who chairs the Toronto stock exchange-listed miner Ivanhoe Mines Ltd and its 90 per cent owned Ivanhoe Australia Ltd, said "Mongolia could kill Australian coal" because its mining tax was lower than in Australia.

Ivanho

69 Vote(s)

Hogan Lovells Enters Mongolia

mongoliaonline — Tue, 03 Aug 2010 23:23:45 EDT

Megafirm Megafirm Hogan Lovells, which was created earlier this year through the merger of U.K.-based Lovells and Hogan & Hartson, is planting its flag in Mongolia.

LegalWeek reports the firm is entering the country through a formal alliance with Mongolian firm GT's Advocates. According to LegalWeek, Hogan Lovells is the first transatlantic firm to enter Mongolia.

43 Vote(s)

Khan wins Mongolian case, says to re-register licences

mongoliaonline — Tue, 03 Aug 2010 23:19:36 EDT

(Reuters) - Khan Resources Inc said a Mongolian Administrative court ruled in its favor and invalidated the Nuclear Energy Agency's (NEA) decision to cancel its unit Khan Resources LLC's mining licence, sending its shares up 32 percent.

Khan said it will continue the process of re-registering its licenses for both its units in the country under the Nuclear Energy Law of Mongolia

54 Vote(s)

Mongolia approves construction of railway line in Tavan Tolgoi coal deposit

mongoliaonline — Mon, 02 Aug 2010 20:18:23 EDT

03 August 2010 Mongolia's parliament has approved construction of a 1100 km railway linking the Tavan Tolgoi coal deposits with Saynshand and the existing line from Russia to Bayantumen. This 1520 mm gauge option was chosen in preference to a shorter standard gauge line to China in the hope of developing new coal export markets via Russia.

Source Railway Gazette

1 Vote(s)

Petro Matad says tests confirm oil find, shares up

mongoliaonline — Fri, 30 Jul 2010 03:46:09 EDT

LONDON, July 30 (Reuters) - Mongolia-focused oil explorer Petro Matad said that analysis carried out on the drilling results of its first well in Eastern Mongolia confirmed that oil was present, sending its shares soaring.

26 Vote(s)

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

mongoliaonline — Thu, 29 Jul 2010 02:11:26 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

29 Vote(s)

Chalco trading lanced amid Chinalco's Ivanhoe talks

mongoliaonline — Thu, 29 Jul 2010 01:48:08 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.

27 Vote(s)

Mongolian mining company guards clash with illegal miners

mongoliaonline — Wed, 28 Jul 2010 01:42:19 EDT

Security guards of a mining company in western Mongolia clashed with illegal miners known as "ninja miners," leaving many of the combatants injured, local media said Wednesday.

About 50 security guards of a gold mining company fought for over two hours with about 200 ninja miners and local residents in Omnogobi county of Uvs province in western Mongolia.

Many w

28 Vote(s)

DeTeam to acquire 2.14 bln tons of coal in Mongolia

mongoliaonline — Mon, 26 Jul 2010 00:26:22 EDT

Jul. 26, 2010 (China Knowledge) - DeTeam Co Ltd recently announced plans to spend US$10 million to acquire entire equities of Shine Shivee LLC, which owns exploration rights on seven collieries with coal reserves totaling 2.14 billion tons in Mongolia.

32 Vote(s)

Fluor agrees to proceed with Mongolia mine project

mongoliaonline — Wed, 21 Jul 2010 22:43:57 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 22:35:47 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 21:56:54 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)

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

mongoliaonline — Tue, 20 Jul 2010 21:29:10 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 03:10:48 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)

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

mongoliaonline — Mon, 19 Jul 2010 02:54:31 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 02:08:04 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 22:27:26 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)

Rio, Ivanhoe Relationship Sours

mongoliaonline — Thu, 15 Jul 2010 02:17:11 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

25 Vote(s)

Mongolia approves plan for coking coal IPO

mongoliaonline — Tue, 13 Jul 2010 21:13:38 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

52 Vote(s)

Ivanhoe Surges During Rio Tinto Battle

mongoliaonline — Tue, 13 Jul 2010 02:24:54 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)