In October 2008, 23 trades were held at the Mongolian Stock Exchange and 4.7 million shares were sold, totaling 1 billion MNT trade. Traded share size was decreased by 1.1 times and trade size by 64.3% if compares with the previous month’s trade. (more…)
Ivanhoe has financial reserves to continue to advance its flagship copper and gold development properties
SINGAPORE, SINGAPORE–(Marketwire - Nov. 14, 2008) - Ivanhoe Mines Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) today announced its results for the third quarter that ended September 30, 2008. (Note: all figures are in U.S. dollars, unless stated in another currency.)
Summary of significant achievements and developments since July 1, 2008
- Ivanhoe Mines remains focused on opportunities to advance the company’s flagship Oyu Tolgoi copper-gold project in Mongolia’s South Gobi Region. A start on construction of the planned mine at Oyu Tolgoi has been delayed by a series of Mongolian political events during the past year, including a national general election. Ivanhoe Mines and its strategic partner, Rio Tinto, recently reiterated to the Mongolian Government their readiness to participate in a resumption of discussions to conclude an Investment Agreement for Oyu Tolgoi. The new coalition government has declared that the development of major mineral deposits, including Oyu Tolgoi, is a matter of high priority. (more…)
While Budget Plan of year is under discussion in the upcoming days, MPs discussed about the refinery that will allow us to develop oil processing industry in our homeland. Proposal of MP D.Khayanhirvaa in building a refinery in Darkhan-Uul aimag was supported by the majority of MPs. If this refinery be built, crude oil that is expected to import from Kuwait and Kazakhstan can be processed in Mongolia rather than in China. (more…)
The position is to grant the power to the Government to sign the investment agreement on Tavan Tolgoi and Oyu Tolgoi. MP Kh.Badamsuren, Head of the working group of drafting the amendment in the Mineral Law of Mongolia, has his view regarding the current development in mining legislation.
Q: Working group on drafting the amendment in the Mineral Law of Mongolia worked on it for quite long time. What is the result of your group’s work?
MP Kh.Badamsuren: According to the resolution of the Speaker of the State Great Khural, a working group was established and started its work. The working group is paying much attention on drafting the amendment. All in all, the working group presented its first draft to the party groups of the parliament. Basically, party groups principally supported it. But there were many comments during the discussion from MPs. Therefore, the working group will discuss these comments and insert them into the draft law. One thing need to emphasize here is MPs have visionary approach. (more…)
268.6 thousand shares of 22 SHC were sold at the Mongolian Stock Exchange (MSE) totaling 43.7 million MNT trade. 100.8 thousand Remicon share and 3.1 thousand Monfresh share were sold at the primary market. 93.5 thousand shares of Hermes Center were sold and it was the most actively traded shares at the stock market. In comparison to the previous day’s trade, APU share price was increased by 14.95% and UED (State Department Store) by 14.84% but Olloo share price was decreased by 13.7%.
Cabinet Meeting discussed about the report on “canceling licenses of some vodka factories and outcome of installation of counter in vodka and spirit factories”. After the long lasting effort, the Government of Mongolia managed to install counter in vodka factories. As for today there are 94 vodka factories and 15 spirit distiller operating in Mongolia. 60 vodka factories are in countryside and 34 in Ulaanbaatar City and 7 spirit distillers are in countryside and 8 in Ulaanbaatar. (more…)
Petrol price has reduced by 60-150 MNT from yesterday. In Relation to this news petrol importing companies are urging other companies and businesses to reduce their prices of goods and services as price of petrol have become more affordable and it is looking to reduce further. The most important issue is that public expects a reduction in the cost of public transport and taxi services.
Vanchigmaa, Finance Department Director of Public Transport is investigating this matter and she has said “Due to a constant decrease in price of petrol we have started planning to reset the tariff of the transport system”.
365.7 thousand shares of 26 SHC were sold at the MSE totaling 141.2 million MNT trade. 145.2 thousand Remicon shares and 3300 Monfresh shares were sold at the primary market. 52.4 thousand shares of Anod Bank were sold and it was the most actively traded shares at the stock market.
In comparison to the previous day’s trade, Baganuur share price was increased by 15% and APU share by 14.78%, but Hermes Center share price was decreased by 9.72% and Buunii Hudaldaa (literally whole sale) share by 14.92%.
MAIN PRINCIPLE AND GUIDANCE OF MAKING THE INVESTMENT AGREEMENT ON JOINT EXPLOITATION OF OYU TOLGOI COPPER-GOLD DEPOSIT
1. The agreement must be built in accordance with the effective law and regulations of Mongolia
2. To study the possibility of inserting the provision to allow the Mongolian side to own up to 50%, but starting from 34% and additional take over for the Mongolian side when the initial investment is compensated.
3. To study the alternatives of making the investment agreement based on the product share principle.
4. To agree upon 34% direct ownership of a stock holding company to the Mongolian side and its investment to be replaced with the taxes, payments, fees, dividend and loan types. (more…)
MAIN PRINCIPLE AND GUIDANCE OF MAKING THE INVESTMENT AGREEMENT ON JOINT EXPLOITATION OF TAVAN TOLGOI COAL MINE
1. The agreement must be built in accordance with the effective law and regulations of Mongolia
2. To study the possibility of securing the Mongolian side ownership in a stock holding company which will be established on Tavan Tolgoi coal mine, not less than 51%.
3. To study the alternatives of making the investment agreement based on the product share principle.
4. To effectively implement the payment of mineral resource exploitation, its calculation and distribution in accordance with the mountain-geological condition and reserve size of the deposit, as stated in the provision 47 of the Mineral Law of Mongolia and to receive the certain portion of the payment of the mineral resource exploitation and taxes in advance. (more…)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/tny_au_en_uskg_2.gif)
Loading ...
