Prophecy Coal receives Chandgana thermal power plant license from Mongolian authorities

Prophecy Coal Corp. said on Monday that it has received the license certificate from Mongolian regulatory authorities to construct the 600 Megawatt (MW) Chandgana thermal power plant. Coal for the power plant will be supplied from the company’s Chandgana Tal Deposit, for which Prophecy already obtained a full mining license. Tal contains 141 million tonnes […]

Petroleum production to be increased

Yesterday, the Parliament discussed the Government policy on petroleum. Mineral Resources and Energy Minister D.Zorigt said the Government is focusing on establishing regional oil refineries. When Mongolia can produce fuel from coal, he said, Mongolia will no longer be dependent on imported foreign oil. MPs asked about the recent increase in the price of AI-92 […]

Trafigura and Origo form Joint Venture to develop Mongolian deposits

Trafigura, one of the world’s top oil and commodity traders and Origo Partners Plc, one of the largest private equity investors in Mongolian natural resources have formed a 50:50 joint venture to develop Mongolian coal and iron ore deposits with significant export potential. Trafigura-Origo MGL will invest in a number of already identified Mongolian iron […]

Minister for Finance reports on Oyu Tolgoi agreement

Yesterday, Finance Minister S.Bayartsogt informed journalists about Oyutolgoi issue on Monday. Ivanhoe Mines Ltd and Rio Tinto International Holdings Ltd made Oyutolgoi investment agreement on October 6, 2009. The Minister said that Mongolia would earn USD29.1 billion as taxation, payment, fee and dividend from Oyutolgoi project in 50 years and investors would earn USD25 billion […]

Coal Gasification and Liquefaction Asia Summit 2011

Coal Gasification and Liquefaction Asia Summit 2011 (Nov.21st-25th, Beijing China) Supported by the Energy bureau of National Development and Reform Commission (NDRC) of People’s Republic of China and major energy companies of China, organized by HXC Group, Coal Gasification and Liquefaction Asia Summit 2011(CGLAS2011) will be gathering 250 participants from the industry, research centers and […]