Mongolia Online / administrator / Voted News

Mongolia looks to Russia, China in uranium race

administrator — Thu, 10 Dec 2009 21:40:55 -0500

Big changes in Mongolia's uranium sector mean the country's top assets are now to be divvied up mainly between Russia and China, the giant neighbours whose influence the landlocked country is perennially trying to balance.
The entry of large Chinese and Russian firms has come at the expense of junior miners from Australia and Canada, some of whom were squeezed out when Mongolia passed a uranium law this summer that gave the state 51 percent in the richest uranium deposits.

3 Vote(s)

Made in Mongolia

administrator — Fri, 04 Dec 2009 21:40:56 -0500

‘It’s great to be able to do something for women,” says Kim Rowan, above with her daughter, model Amber Jean Rowan, sporting a cute felt hat and scarf from Made in Mongolia (MIM). The pair are part of a group of well-known Irish women who have helped the Mongolian charity by modelling some of their latest fashion accessories.

3 Vote(s)

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)

Press Release: IMF Statement on Banking Sector Developments in Mongolia

administrator — Sat, 21 Nov 2009 02:47:24 -0500

Mr. Takatoshi Kato, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement on Mongolia today:

“The Mongolian economy was hit hard by the global economic crisis earlier this year. The authorities’ strong policy implementation, however, has helped to quickly stabilize market conditions. Nonetheless, the repercussions from the crisis have taken their toll on the banking system.

“I welcome and fully support the Bank of Mongolia’s decision to appoint a receiver at Zoos Bank. This unfortunate but necessary action underscores the authorities’ commitment to strengthening the banking system and ensuring financial market stability. The IMF remains committed to continued support of Mongolia in the context of the exceptional-access Stand-By Arrangement approved in April of this year.”

1 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)

More than 900 A/H1N1 cases registered in Mongolia

administrator — Fri, 06 Nov 2009 04:57:09 -0500

According to the Ministry of Health, as of 10am, November 6th, there were 715 confirmed cases of people infected with A/H1N1 virus registered in Ulaanbaatar and 195 in the 17 provinces.

There were 51 patients being treated at the National Center for Infectious Diseases, from which 24 were still waiting for lab test results.

By Friday, the death toll of the virus had risen to eight (6 in Ulaanbaatar, 1 in Bulgan and 1 in Southgobi aimags), the Ministry said.

1 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)

Petro Matad Suspends Operations in Eastern Mongolia

mongoliaonline — Mon, 02 Nov 2009 19:40:09 -0500

Petro Matad has suspended operations at its Davsan Tolgoi-1 ("DT-1") well site due to winter conditions.

The Company and its contractors are now preparing the site for a secure winter shutdown, with appropriate care, safety and maintenance through the next five months of the Mongolian winter.

2 Vote(s)

Rio Tinto issues wake-up call on cheap Mongolian coal

mongoliaonline — Mon, 02 Nov 2009 18:55:34 -0500

‘‘Coal from Mongolia to China is happening. It is expanding, probably doubling every two years,’’ Mr Albanese told an investors’ conference in Sydney on Monday.

‘‘We should remind ourselves that Australia is not the only source of supply for the Asian seaborne market, so if the coal chain does not pick up, others will find their way to that market.’’

‘‘We have coal interests through our stake in Ivanhoe (Australia Ltd) but we also have coal interests on our own in Mongolia via Rio Tinto explorations,’’ he said.

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)

NYTimes: New Prime Minister Confirmed

hidodorj — Sun, 01 Nov 2009 05:19:25 -0500

The New York Times confirms Batbold has won the vote and will be the new prime minister of Mongolia, after S. Bayar resigned due to health problems. Let's see if he is able to keep the coalition - and the party - together.

3 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)

Mongolia Ruling Party Nominates New Prime Minister

administrator — Wed, 28 Oct 2009 18:28:47 -0400

Mongolia's ruling party has nominated the current foreign minister and one of the country's wealthiest men, Batbold Sukhbaatar, to be the new prime minister.

Between 1992 and 2000, Batbold headed the trading company Altai Trading Co. Ltd., which formed a gold mining joint venture with Canadian Centerra Gold Inc.

The nomination follows the approval of parliament earlier Wednesday of Bayar Sanjaa's request to step down as prime minister for health reasons.

2 Vote(s)

Mongolian parliament accepts PM's resignation

administrator — Wed, 28 Oct 2009 18:15:42 -0400

The Mongolian parliament accepted Prime Minister Sanjaa Bayar's resignation during an irregular plenary meeting on Wednesday.

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)

Su.Batbold nominated by MPRP for the PM's seat

administrator — Wed, 28 Oct 2009 16:24:59 -0400

MPRP's party conference on Wednesday evening unanimously voted for Su.Batbold, the Minister for Foreign Relations and Trade, to take S.Bayar's place as the Premier. Su.Batbold's name has been presented to the President for his seal of approval today.

4 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)

Copper mine to transform Mongolia

mongoliaonline — Wed, 07 Oct 2009 18:20:39 -0400

Mongolia has positioned itself to become a large copper exporter, after it on Tuesday signed an agreement with multinational mining companies to develop an enormous deposit near the Chinese border.

Mongolia's economy and its social fabric - many Mongolians are semi-nomadic - stand to be transformed by the project, which would represent one-third of gross domestic product if it were operational today.

2 Vote(s)

Russia says may report Mongolia to Paris Club

mongoliaonline — Tue, 06 Oct 2009 21:54:16 -0400

Russia may report Mongolia to the Paris Club at its next meeting if there's no progress on the repayment of an outstanding loan worth around $180 million, Russian Deputy Finance Minister Dmitry Pankin said on Tuesday.

2 Vote(s)

Mongolia seals multi-billion-dollar copper mine deal

mongoliaonline — Tue, 06 Oct 2009 21:38:53 -0400

Mongolia on Tuesday sealed a long-awaited multi-billion-dollar deal with Canada's Ivanhoe Mines and Anglo-Australian miner Rio Tinto to develop one of the world's richest copper deposits

2 Vote(s)

Mongolia Formulate State Policy on Uranium Reserve

Tamir — Wed, 23 Sep 2009 02:12:02 -0400

Mongolia has formulated its state policy over exploration and exploitation of its uranium reserve, which is believed to shelter six percent of world’s total, S.Enkhbat, Chief of the Mongolian Nuclear Energy Authority, briefed at the 53rd IAEA General Conference held in Geneva, Switzerland on September 16.

3 Vote(s)

Mongolia stages 'world's longest horse race'

Tamir — Sun, 20 Sep 2009 02:17:50 -0400

The international group of riders pounded 860 kilometres (530 miles) across the Asian country's vast grasslands in the 10-day Mongol Derby, which organisers call the world's longest horse race.

The Adventurists, a Britain-based organisation that dreamed up the derby, designed the race as a way to promote Mongolian tradition and culture -- while raising money for charity.

3 Vote(s)

Namibia to Mongolia: India's uranium hunt

mongoliaonline — Sat, 19 Sep 2009 23:29:26 -0400

In its quest for obtaining fuel for its nuclear power plants, India has been reaching out to every possible country that has some uranium resources and is willing to sell it to New Delhi.

Mongolia has one per cent of the world's uranium resources.

Civil nuclear cooperation agreement with Mongolia is the sixth that New Delhi has signed since the 45-member Nuclear Suppliers' Group formalised India's re-entry into international nuclear commerce last year after 34 years of sanctions.

3 Vote(s)

India -Mongolia likely to ink civil nuclear pact

mongoliaonline — Sun, 13 Sep 2009 12:35:55 -0400

India is likely to ink another bilateral atomic energy cooperation agreement with Mongolia, which has nearly 6% of the world's uranium reserves. According to sources, the pact will be sealed during Mongolian President Tsakhiagiin Elbegdorj's four-day state visit to India beginning on September 14.

2 Vote(s)

Mongolia clears way for Oyu Tolgoi mine: Rio Tinto CEO | The Australian

amstravels — Mon, 31 Aug 2009 15:09:38 -0400

OT Agreement closer but still not here:

Ivanhoe president John Macken said: "Now we are in a position to make arrangements with the government to sign the Oyu Tolgoi Investment Agreement in the near future.”

4 Vote(s)

Zoo's quarters add up in helping Mongolia's snow leopards

Tamir — Sat, 29 Aug 2009 15:25:07 -0400

Funds raised one quarter at a time in Colorado Springs are helping to protect endangered snow leopards in distant Mongolia.

Under the Cheyenne Mountain Zoo's Quarters for Conservation program, which is in its second year, a quarter from each admission- or $2.50 from each family membership - goes to wildlife conservation. Visitors receive a token to vote for their favorite program among those represented in a display in the zoo's entry plaza, thus determining the percentage of funding each gets. The top vote-getter in the first year: the snow leopard, with more than $14,000 raised.

4 Vote(s)

A giant leap for Mongolia, but where to?

administrator — Wed, 26 Aug 2009 22:57:49 -0400

- Mongolian parliament uncorks foreign investment bottleneck
- Copper, gold, coal, uranium seen ripe for development
- Third of population likely to remain in poverty for years
- Govt could use revenue to set up budget stabilisation fund

7 Vote(s)

Russia and Mongolia form uranium joint venture to develop Dornod field

administrator — Tue, 25 Aug 2009 01:31:50 -0400

Russian and Mongolian state-owned firms have formed a joint venture to exploit the Dornod uranium deposit, in a setback for a Canadian mining firm licensed to develop the area.

The move comes after Mongolia's legislature in July passed a Nuclear Energy law that gave the state greater ownership over uranium deposits, especially those deemed strategic.

4 Vote(s)

Mongolian Dukha Reindeer Herders Face Threat to Existence - ABC News

Tamir — Mon, 24 Aug 2009 23:21:53 -0400

Deep in the Larch Forests of Northern Mongolia lives a tiny tribe of people known as the Dukha. For more than 3,000 years they have survived as nomads, moving camp 10 times a year across the mountains. Their existence is pinned on one animal: the reindeer. But their unique way of life now hangs in the balance.

4 Vote(s)

Russia and Mongolia sign uranium deal, settle debt

Tamir — Mon, 24 Aug 2009 22:26:47 -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)

Austrian has Indiana Jones moment in Mongolia - Yahoo! News

administrator — Sun, 02 Aug 2009 15:06:54 -0400

Digging for buried treasure in the Gobi Desert sounds like the opening scene of an Indiana Jones film. For Austrian-born Michael Eisenriegler, it was a real-life adventure.

The 40-year-old amateur archaeologist was in the Gobi over the weekend, helping to unearth Buddhist relics that had been buried for more than seven decades in a remote part of Mongolia.

Less than an hour of digging revealed two crates filled with priceless treasure, including rare manuscripts, Buddhist statues and clothing.

3 Vote(s)

World Bank Provides Assistance to Mongolia in Managing Its Current Economic Downturn

administrator — Sat, 27 Jun 2009 16:54:06 -0400

The World Bank's Board of Executive Directors has approved a development policy credit of US$ 40 million for the Mongolia Development Policy Credit (DPC) Program. The program is designed to assist the government of Mongolia manage the current downturn, which was triggered by the collapse of the copper price.

Duration of the project is 18 months from July 1, 2009, until December 30, 2010.

3 Vote(s)

Senior Chinese party official: No unsettled major issues in China-Mongolia ties

administrator — Fri, 26 Jun 2009 20:53:31 -0400

ULAN BATOR, June 26 (Xinhua) -- A senior leader of the Communist Party of China (CPC) says China-Mongolia ties have reached an all-time high with no unsettled major issues remaining.

"My visit here aims at laying a solid foundation for the sustained growth of China-Mongolia relations by reviewing the past, summing up experience and looking into the future," He Guoqiang, a member of the Standing Committee of the Political Bureau of the CPC Central Committee, told Mongolian Prime Minister Sanj Bayar on Thursday.

China and Mongolia have enjoyed numerous exchanges and cooperation in various fields in recent years with the support of leaders from both nations, He said.

He's three-day visit came as China and Mongolia this year celebrate the 60th anniversary of diplomatic relations.

3 Vote(s)

Seoul City, Ulaanbaatar Agree on Economic Exchanges

administrator — Fri, 26 Jun 2009 20:35:38 -0400

The Seoul Metropolitan Government says it has signed a memorandum of understanding with the Mongolian capital city Ulaanbaatar. It is mentioned that "the two cities will cooperate in combating Mongolia's desertification and other effects of global warming."

But the essence of the MoU is that the "agreement will enable Seoul-based companies to take part in Ulaanbaatar's urban planning, development, industrial, trade and tourism projects." Whole lot to do with fighting the "effects of global warming."

Also, "The mayor of Ulaanbaatar asked Seoul to consider building a hospital in his country..." There are at least two major Korean hospitals in Ulaanbaatar, why build another one?

3 Vote(s)

China, Mongolia to hold joint peacekeeping exercise

Tamir — Thu, 25 Jun 2009 16:47:04 -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)