Mongolia Online / Tamir / Published News

Russia and Mongolia sign uranium deal, settle debt

Tamir — Wed, 26 Aug 2009 00:13:26 -0400

Russia and Mongolia agreed on Tuesday to launch a uranium mining venture after settling a $150 million debt that will allow the Soviet-era allies to proceed with other projects in infrastructure and farming.

State-owned firms from both countries formed a joint venture to develop the Dornod uranium field in Mongolia's northeast.

The Russian-Mongolian joint venture comes during a visit by Russian President Dmitry Medvedev.

4 Vote(s)

IMF approves $39.4 mln disbursement to Mongolia

Tamir — Thu, 25 Jun 2009 23:03:05 -0400

The International Monetary Fund approved a $39.4 million disbursement to Mongolia and said implementation of the IMF-backed economic program had helped stabilize the economy.

4 Vote(s)

China, Mongolia to hold joint peacekeeping exercise

Tamir — Thu, 25 Jun 2009 23:02:50 -0400

The military forces of China and Mongolia are to launch a joint peacekeeping exercise Friday in the Beijing area, the Information Office of China's Defense Ministry said in a press release.

Coded "Peacekeeping Mission-2009", the exercise will be the first joint peacekeeping exercise China has held with another country, as well as the first joint military training between China and Mongolia.

4 Vote(s)

Ivanhoe Continues Talks With Mongolia on Mining Deal

Tamir — Sat, 20 Jun 2009 02:59:24 -0400

Representatives of Ivanhoe Mines Ltd.'s $3 billion Oyu Tolgoi project in Mongolia have held talks with the government there for the past two weeks to forge an investment agreement, but there is no clear timetable for progress.

Resources companies have been awaiting a solid investment framework for years to mine Mongolia's copper, gold, coal and uranium riches. Talks to forge an investment deal dragged particularly after Mongolia's government in 2006 announced it would seek a stake of up to 50% in strategic mining projects, as well as imposing a windfall tax on company profits from copper and gold production.

4 Vote(s)

Centerra Gold's Boroo Mine operating licence in Mongolia suspended for up to three months

Tamir — Sun, 14 Jun 2009 02:46:59 -0400

Centerra Gold Inc. (TSX:CG) says its operating licence for the Boroo Mine in Mongolia has been suspended for up to three months after a report from a government inspection agency that visited the Boroo minesite.

The suspension comes a few weeks after unionized workers at the mine stopped work and demanded more money. Centerra said Friday the three-month suspension is related to operating issues such as record keeping, incorrect land use, and improper operating procedures.

"The company is working closely with the authorities to understand the issues and to resolve these issues in a timely manner," the Toronto gold miner said in a release.

3 Vote(s)

Mongolia offers to help U.S. with N. Korea

Tamir — Sun, 14 Jun 2009 01:56:21 -0400

Mongolia has offered to mediate between the United States and North Korea because of its good ties with both countries, and Secretary of State Hillary Rodham Clinton has expressed interest, Mongolian Foreign Minister Sukhbaatar Batbold said.

4 Vote(s)

MONGOLIA: RUSSIA NIXES US DEVELOPMENT FUNDS FOR ULAANBAATAR

Tamir — Tue, 09 Jun 2009 11:48:23 -0400

Mongolia is accepting Russian demands to refuse US government funding for a railroad project and will ask the United States to redirect the funding to another project, the country's foreign minister said during a visit to Washington.

Under the Millennium Challenge Corporation aid program, which rewards countries that liberalize their political and economic systems, Mongolia is set to receive $188 million in US funding to modernize its aging rail infrastructure. Russia, however, has objected to Mongolia taking the funding.

3 Vote(s)

UN envoy to Liberia honours Mongolian peacekeepers in Sierra Leone

Tamir — Tue, 09 Jun 2009 11:48:21 -0400

8 June 2009 - The top United Nations envoy to Liberia today paid tribute to the Mongolian blue helmets, tasked with protecting the UN-backed Special Court for Sierra Leone (SCSL), for their efforts to promote peacebuilding in West Africa.

"Mongolian peacekeepers have acquired a reputation for bringing exceptional discipline to peacekeeping operations, an international outlook and an ever-ready approach to their tasks, regardless of the environment they find themselves in," said Ellen Margrethe Løj, Special Representative of the Secretary-General and head of the UN Mission in Liberia (UNMIL).

3 Vote(s)

Mongolia, US talk on redirecting aid

Tamir — Tue, 09 Jun 2009 11:48:14 -0400

Mongolia's foreign minister met with top US officials Tuesday on redirecting nearly 200 million dollars in aid after Russia vetoed US help to improve the rail network.

Foreign Minister Sukhbaatar Batbold held talks with US Secretary of State Hillary Clinton, who offered full support to the young democracy which shook off communism in a peaceful 1990 revolution.

3 Vote(s)

Kiwi will risk life and limb in world's toughest horse race to provide homes for Mongolian kids

Tamir — Tue, 09 Jun 2009 11:46:36 -0400

A New Zealander living in Perth who says he is not a good rider will hop on different horses to compete in the world's longest and toughest horse race, over 1000km across Mongolia later this year in the inaugural Mongol Derby.

Dave Murray, formerly of Tekapo, will be one of 25 riders from nine countries to race across the Mongolian plains from August 22, each of them changing horses every 40km.

Murray, 29, will raise funds to go toward the official charity Mercy Corps to support nomadic families and herders across Mongolia.

3 Vote(s)

Medvedev’s congratulation address to new Mongolian president

Tamir — Tue, 09 Jun 2009 10:46:49 -0400

MOSCOW, June 5 (Itar-Tass) - President Dmitry Medvedev hopes that his first meeting with the newly elected President of Mongolia, Tsakhiagiin Elbegdorj, will be held in Yekaterinburg this June. He expressed this hope in his congratulation address to the new Mongolian head of state, the Kremlin press service reported on Friday.

The document says in part: "I am sure that Mongolia's policy to consolidate its strategic partnership and good-neighbour relations with Russia will be further promoted under your leadership.

"I am prepared to establish working business contacts with you. I invite you to take part in the meeting of the SCO heads of state and of observer nations, and also in the plenary meeting of the Organisation, which is to be held within the framework of the SCO Summit (at Yekaterinburg from June 15-16, 2009). I believe we shall have an opportunity to arrange our first personal meeting at Yekaterinburg.

"We are attaching great importance to the forthcoming 70th anniversary of our joint victory at Khalkin-Gol. I am sure that we shall befittingly mark this memorable date in the history of the relations between our two countries," the document says.

4 Vote(s)

Mongolia fiscal target on track

Tamir — Sun, 07 Jun 2009 21:27:09 -0400

Mongolia is on track to meet its end of year fiscal target but the authorities will need to maintain expenditure controls, the International Monetary Fund said on Friday.

In a statement, the IMF said Mongolia had so far successfully implemented its $229.2 million IMF program since April and a staff mission would recommend disbursement of the next tranche of $40 million under the loan.

3 Vote(s)

Xinjiang Opens China-Mongolia Cross-border Tourist Route

Tamir — Tue, 02 Jun 2009 12:25:55 -0400

Xinjiang Uygur Autonomous Region has opened its first China-Mongolia cross-border tourist route in Qinghe County.

The route is from Tarkshken border crossing in Qinghe County, Xinjiang to Bulgan, Mongolia. Tourists from both sides can travel to specific areas with a valid border pass.

Qinghe Kanas International Travel Service Ltd and Xinjiang Overseas International Travel Service Company are the only two travel agencies that are allowed to organize group tours to Bulgan.

Tourists will go to Bulgan by international shuttle bus. They will have to register with a travel agency for a border pass one day before traveling to Bulgan.

3 Vote(s)

Gulfside Clarifies Its Disclosure on Its Onjuul Coal Property

Tamir — Sat, 30 May 2009 19:51:44 -0400

Canadian mining company, Gulfside Minerals Ltd. issued a press release regarding its purchase of mining exploration licenses in Mongolia.

"The company has signed final Share Purchase Agreements with two private Mongolian companies to acquire a 100% interest in and operate three Mining Exploration Licenses encompassing portions of the Khar-khonkhor (Black Hole) Brown Coal Deposit and the Onjuul (Onjuul) Brown Coal Deposit located within the Choir-Nyalga Coal Basin of SW Mongolia. The licenses are situated about 170 km SW of the city of Ulaanbaatar and 50 km SE of the Buren Soum (sub-province) center in Tuv Aimag (Central Province)."

3 Vote(s)

Canoel announces agreement to purchase oil exploration and development block in Mongolia

Tamir — Sat, 30 May 2009 18:52:24 -0400

Canoel International Energy Ltd. entered into an Agreement to become the operator of a large oil exploration block in Mongolia, which is located in the Mongolian part of the Gobi desert, immediately north of the boundary with China. It covers 13'575 square kilometres (about 3.37 million acres).

Hans Oesterle, Vice President for Exploration says: "Preliminary work identified several large structures in Block XXIII under major regional thrust faults. These leads need to be verified by modern seismic data; but the current size of the mapped structures is such that any discovery will be of significant size. Future production will satisfy local requirements, but surplus production can be transported by railway to the Chinese refinery at nearby Dong Wu".

4 Vote(s)

Mining investors await Mongolian signal - will Oyu Tolgoi move forward quickly?

Tamir — Thu, 28 May 2009 01:57:36 -0400

Foreign investors in Mongolia are playing a waiting game after this week's presidential election, hoping the new head of state will soon approve a major mining project that is key to jump-starting the economy.

Opposition Democratic Party (DP) candidate Tsakhiagiin Elbegdorj won the poll, promising to ensure that Mongolian citizens benefit more from the wealth lying underground.

The multi-billion-dollar question for investors now is whether the government will finally reach a deal on the massive Oyu Tolgoi copper and gold project with its potential developers, Ivanhoe Mines and Rio Tinto.

3 Vote(s)

US State Department on Mongolian Presidential Election

Tamir — Thu, 28 May 2009 01:55:12 -0400

Ian Kelly, Department Spokesman of the Office of the Spokesman of the Bureau of Public Affairs issued a press release on May 26, 2009.

"We wish to congratulate the people of Mongolia on their recent presidential election. In a free and peaceful democratic election on Sunday, May 24, Mongolian voters elected Democratic Party candidate Tshahiagiin Elbegdorj.

We applaud the people and government of Mongolia for conducting Sunday's election in a fair and transparent manner, in accordance with the Mongolian constitution. Preliminary evaluations of independent observers indicate election problems were minimal, and there have been no reports of election-related violence. This election is a clear demonstration of Mongolia's continued commitment to democratic reform and represents a real achievement for such a young democracy.

We look forward to continuing to work with the Mongolian government to enhance and deepen the warm relationship between our two countries."

3 Vote(s)

Ivanhoe Mines shares take hit on Mongolian leadership change

Tamir — Wed, 27 May 2009 02:03:40 -0400

Ivanhoe Mines Ltd., developing the Oyu Tolgoi copper-and-gold deposit in Mongolia with Rio Tinto Group PLC, fell on speculation the country's new President may slow approval of a draft agreement to proceed with the project.

Ivanhoe has been trying for more than five years to complete an investment pact with Mongolia to develop Oyu Tolgoi. London-based Rio Tinto called the deposit "the world's largest undeveloped copper-gold resource" when it agreed to buy 10% of Ivanhoe in October, 2007.

4 Vote(s)

Workers strike at Centerra's Mongolia mine | Reuters

Tamir — Wed, 27 May 2009 02:03:05 -0400

Centerra Gold (CG.TO) said on Tuesday that unionized workers at its Boroo gold mine in Mongolia have walked off the job demanding higher wages, prompting the company to suspend operations at the mine.

Centerra, which is partly owned by Canadian uranium producer Cameco Corp (CCO.TO), said it believed the work stoppage is illegal.

4 Vote(s)

Mongolia eyes its own nuclear power plant | World | Reuters

Tamir — Tue, 26 May 2009 04:12:15 -0400

Mongolia is hoping to eventually build its own nuclear power plant and has already begun a feasibility study on the project, the head of the country's new Nuclear Energy Agency said on Tuesday.

4 Vote(s)

Statue embodies Mongolian culture - The Denver Post

Tamir — Mon, 25 May 2009 17:23:50 -0400

The unveiling of the sculpture at Ulaanbaatar Park is a moment of pride for immigrants living in Denver.

The heart of the Denver Mongolian community throbbed with traditional fervor Sunday as an emblematic sculpture was unveiled in Lowry.

Dancing, singing and a contortionist's show served as precursor to the ribbon-cutting and blessing of a 20-foot stainless steel tulga statue. The Mongolian tulga is a four-pronged fireplace positioned in the center of a nomadic household called a gher, or yurt.

The celebration continues a five-year relationship between Denver and the Mongolian city of Ulaanbaatar. The two became sister cities in 2004.

3 Vote(s)

Moscow sets out to conquer Mongolia’s gold, coal and copper - Asia News

Tamir — Mon, 25 May 2009 17:11:43 -0400

Russia is seeking to boost its economic relations and collaboration with Mongolia, in an attempt to gain access to the nations' vast mineral reserves which include uranium. But experts are still waiting to see if Ulaan Baatar will be drawn from its traditional "multi-vectored" diplomacy which cultivates ties with Moscow and Beijing, but also with other powers, in particular the United States

1 Vote(s)

Mongolia election could hinder Rio mine clearance

Tamir — Mon, 25 May 2009 17:09:18 -0400

Mongolians head to the polls to elect a new president in a tight race that will help determine when and how the country will reach consensus on working with foreign investors to tap its vast mineral wealth.

Most immediately at stake is whether parliament can quickly ratify a long-awaited draft investment agreement on the $US3 billion ($A3.88 billion) Oyu Tolgoi copper and gold project, set to be developed by Ivanhoe Mines and Rio Tinto.

4 Vote(s)

Mongolia presidential polls | Video | Reuters.com

Tamir — Mon, 25 May 2009 17:09:18 -0400

The country faces a tight race pitting the incumbent president against a political veteran challenger urging reform.

3 Vote(s)

Video - Mongolia votes in presidential elections | euronews

Tamir — Mon, 25 May 2009 17:09:18 -0400

Voting is underway in Mongolia for a tightly contested presidential poll a year after parliamentary elections triggered deadly riots.

The ballot is being closely watched from outside with foreign investors keen to tap into Mongolia's vast mineral wealth.

3 Vote(s)

YouTube - Mongolia riots after election 2008

Tamir — Mon, 25 May 2009 16:11:43 -0400

The results of the parliamentary elections back in July 2008 caused riots in Ulaanbaatar, Mongolia. Demonstrators attacked and set on fire the headquarters of the Mongolian People's Revolutionary Party.

4 Vote(s)

New World Bank Strategy To Support Mongolia As It Faces Impacts Of Economic Downturn

Tamir — Sat, 23 May 2009 22:34:55 -0400

The World Bank's Board has endorsed a new strategy of support for Mongolia as the country comes to terms with the short and long-term impacts of the global economic downturn.

A new interim strategy, approved today, provides a framework of support for the next 18 months while economic conditions in Mongolia stabilize. Its goal is to support the Government of Mongolia to address urgent crisis needs while also addressing longer term reforms needed to reduce the impact of future shocks.

"It focuses on three key areas: improving fiscal sustainability in a mineral-based economy; protecting the poor and vulnerable; and encouraging transparent and prudent mining investments and a more competitive and stable medium-term business investment climate," World Bank announced.

4 Vote(s)