Mines and Money 2011 was held in between 22-25 March 2011. Three day event with over 150 exhibiting companies. It has two countries especially introduced for year 2011, and one of them was surely, Mongolia. With its ready for he investment mining projects. As for exhibiting Mongolian companies, there were companies listed at foreign capital market and also at MSE.
According to the statistics, the number of attendees and exhibitors made the event as the biggest in Asia. Organizers say that its popularity will be increased even more in the next year. The event was the witness of the Asian investors’ power in attracting investment in the mining sector. Few years ago, mostly western financial institutes attended such events as the investor or investor who has money, and Asian mining companies with good projects were looking for investments. But, this year mostly western companies especially, Australian companies and notable number of Mongolian companies were exhibiting and mostly Asian investors were looking for the project to invest in.
There were several interesting Mongolian exhibitors at Mines and Money 2011. One of them was Sharyn Gol Coal mine, an old coal mine explored in 1960s, which increased its reserve and extended the mine life at least another 60 years. Extremely well located in the central Mongolia, vicinity to all necessary infrastructures. Its share is the biggest gainer at MSE since beginning of 2011.
The most expected event was, obviously, Mongolian Mining Day. This half day panel session opened with presentation of Mr. Enebish, CEO of Erdenes MGL and Acting CEO of Erdenes Tavan Tolgoi. Some interesting information was revealed in his speech that Erdenes Tavan Tolgoi is targeting the first quarter of 2011 as the period of announcing initial public offering. In doing so, few alternatives are considered, such as announcing IPO at HKSE, MSE and AIM of LSE (Alternative Investment Market). It will require immense of due diligence work for the preparation of IPO.
But how many alternatives were considered, HKSE will be the natural market that can raise the expected amount for the project.
In 2010 Robert Friedland, Executive Chairman, Ivanhoe Mines, predicted that “Hong Kong will become the largest mining finance market in the world”.