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India to set up a steel plant in Mongolia
May. 15 | In a bid to reduce costly imports and excessive dependence on Australian coking coal, India is all set to acquire a coal mine in Mongolia and set up the first steel plant there. The Indian government says the plan is to first supply the coal needed for...
Ivanhoe Mines Appoints New Chairman
May. 14 | Ivanhoe Mines announced last Friday that the company’s Board of Directors has appointed Dr. David Klingner as Chairman. The board has also reappointed Livia Mahler as a company director. Upon his appointment, Dr. Klingner said, “It is an honour...
India to acquire coking coal mine in Mongolia
May. 10 | In a move to reduce dependence on highly priced Australian coking coal, India will acquire a mine in Mongolia and also set up the first steel plant in the quality coal rich country. The Indian delegation comprising of Chairman of Steel Authority of India...
Prophecy Coal’s Ulaan Ovoo mine now the largest supplier of coal to Mongolian power plants
May. 9 | Coal miner Prophecy Coal yesterday announced its Ulaan Ovoo mine has become the largest independent supplier of coal to Mongolian power plants in just over a year. In an update on its open pit coal operation, Prophecy said that since 2010, it has invested...
Ivanhoe’s share declines after ACA visit
May. 8 | Ivanhoe Mines Ltd.’s IVN -4.82% shares fell sharply Tuesday after Mongolian anticorruption authorities visited the head office of the Canadian miner’s coal operations in the Asian country. SouthGobi Resources Ltd. 1878.HK +5.54% said that...
LSE hopes to benefit from the MSE growth
May. 7 | The London Stock Exchange last week played host to international resources investors clamouring to grab a chunk of the commodity-fuelled economic boom that is sweeping Mongolia. Hailed as one of the last frontiers for resources exploration, the central...
English version of draft law on investment is released
May. 4 | After Chalco’s proposed bid of SouthGobi, the Mongolian government moved quickly to prepare a law that gave authorities a say in deals of this kind. This week a draft of the law was released and was unofficially translated into English. Draft LAW...
Tavan Tolgoi IPO delays to 2013
May. 3 | Mongolian miner Erdenes Tavan Tolgoi, which owns one of the world’s largest coking coal deposits, has pushed back plans for an international stock market debut to early 2013, disappointing hopes it would boost London’s fortunes this year. The state-owned...
Swedish fund FMG targets Mongolia stocks
May. 1 | Swedish fund manager FMG expects strong growth in Mongolian stocks even though the country faces the uncertainty of parliamentary election this summer. Rising demand for natural resources such as coal and oil is expected to fuel both economies and put...
