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Ivanhoe Completes Merger Transaction, Collects Mongolian Assets

administrator — Mon, 30 Nov 2009 19:12:25 -0500

Ivanhoe Energy announced today, November 30, that the merger between PanAsian Petroleum Inc. and an Ivanhoe Energy subsidiary has been completed. This merger, announced on November 18, 2009, provides Ivanhoe Energy with the exclusive right to explore, develop and produce oil or gas within Block XVI in Mongolia's Nyalga Basin.

Block XVI covers 16,839 square kilometres and is located approximately 100 kilometres southeast of the capital of Mongolia, Ulaanbaatar.

Ivanhoe Energy intends to combine the Block XVI development rights with Sunwing Energy Ltd., Ivanhoe's 100%-owned subsidiary for oil and gas operations in Asia.

2 Vote(s)

Russia's ARMZ eyes Mongolian uranium in Khan bid

administrator — Mon, 30 Nov 2009 18:54:00 -0500

Russian state uranium miner ARMZ plans an offer to acquire Canada's Khan Resources in a $33 million all-cash deal that would secure access to a large uranium field in Mongolia and boost its drive to expand abroad.

Prime Minister Vladimir Putin this year granted $1.5 billion to state nuclear giant Rosatom, the parent company of ARMZ, to boost the war chest of the world's second-largest uranium miner by resource base as it pursues assets abroad.

2 Vote(s)

The Search for Ghengis Khan In Mongolia, Ambivalence Greets Efforts to Find the Great Khan's Tomb

administrator — Mon, 09 Nov 2009 21:12:49 -0500

According to legend, when Genghis Khan died in 1227 in what is now northern China, his lieutenants wanted to keep the death a secret from the Mongols' enemies. So as the party accompanying his body made its way back to Mongolia, they killed every person they saw on the way - more than 20,000 - so news of the death wouldn't spread. Then, when they buried Genghis, they either redirected a river to cover the site, or set horses to trample the ground so no trace would be seen, or killed all the people who buried him, and then killed those killers.

There is no hard evidence that any of those things happened. It may well be that they are after-the-fact embellishments designed to explain a remarkable circumstance of history: the location of Genghis' tomb remains a mystery.

3 Vote(s)

Mongolia turns to horse meat as H1N1 spreads in Asia

administrator — Tue, 03 Nov 2009 05:42:19 -0500

The price of horse meat has risen in Mongolia, as a surge in H1N1 cases and dearth of vaccines has people turning to folk remedies.

Seven people died and 630 cases have been treated in the two weeks since the H1N1 strain of influenza first appeared in Mongolia, forcing the government to close kindergartens, extend a holiday for secondary schools and cancel sports and cultural events, the English-language UB Post reported on Tuesday.

2 Vote(s)

Paris out, Mongolia in for luxury fashion

administrator — Sun, 01 Nov 2009 19:21:29 -0500

With spending on luxury goods down across the developed world in the economic crisis, luxury brands are increasingly looking far beyond the chic avenues of New York, London or Paris for revenue.

The new names on the lips of luxury professionals are far less familiar: Almaty, Shenzhen, Ulan Bator, respectively the commercial capital of Kazakhstan, a major Chinese provincial centre and the capital of Mongolia.

2 Vote(s)

Centerra still waiting for Mongolia heap leach go-ahead

administrator — Fri, 30 Oct 2009 17:00:40 -0400

Toronto-based Centerra Gold is hoping to receive the final approval from Mongolia's government to restart heap leaching operations at the company's Boroo mine, CEO Stephen Lang said on Friday.

The mine has bit hit by a string of setbacks this year, after workers went on strike over wages in June, and then authorities issued an order to suspend the mine's operating licences.

3 Vote(s)

Landlocked Mongolia flies flag on high seas

administrator — Fri, 30 Oct 2009 02:59:04 -0400

Inside a small office in Mongolia's capital Ulan Bator, Banzaragchaa Altan-Od fields calls from ship captains and ports around the globe -- an unusual job for someone in a landlocked nation.

The Mongolian Maritime Administration, based in a city located about 1,400 kilometres (850 miles) from the nearest ocean port, has registered more than 1,600 ships since it opened its doors in 2003.

3 Vote(s)

CIC to invest US$700 mln in Mongolian miner

administrator — Wed, 28 Oct 2009 19:20:41 -0400

China Investment Corp, the country's US$300-billion sovereign wealth fund, has agreed to invest up to US$700 million in Iron Mining International Ltd, a privately-owned Hong Kong-registered company focused on iron mining in Mongolia, sources reported.

2 Vote(s)

Rio Tinto ups stake in Mongolia project partner Ivanhoe

administrator — Wed, 28 Oct 2009 17:36:35 -0400

Rio Tinto Ltd has lifted its stake in Canada's Ivanhoe Mines Ltd to 19.7 per cent under an agreement to jointly develop Ivanhoe's $US3 billion ($A3.29 billion) Oyu Tolgoi copper-gold project in Mongolia.

3 Vote(s)

Mongolia lists 8 potential bidders for coal project

administrator — Fri, 23 Oct 2009 19:29:14 -0400

Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzorig, deputy director of Erdenes MGL, the Mongolian government company that will hold at least 51 percent of the equity.

3 Vote(s)

Metal Miners in Mongolia Dig In - WSJ.com

administrator — Tue, 20 Oct 2009 02:49:19 -0400

Some foreign investors hope the sprawling desert country of Mongolia will become the next big resource story, following a landmark agreement with the government to develop one of the world's biggest copper-and-gold deposits.

1 Vote(s)

Mongolia's media scene: a mad mix

administrator — Tue, 20 Oct 2009 02:23:19 -0400

Mongolia's media has flourished since the end of communism two decades ago, but the result is a crazy mix of countless TV stations and newspapers, mass piracy, slander, rumours and corruption.

2 Vote(s)