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India to set up a steel plant in Mongolia

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

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

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

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

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

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

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

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

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...

Mongolia to control investment by foreign state owned firms in strategic assets by new law

Mongolia to control investment by foreign state owned firms in strategic assets by new law

Apr. 30 | The Mongolian parliament is discussing a law that will control investment by foreign state owned firms in strategic assets says unofficial source. This new law could potentially stop Chalco’s bid to buy a controlling stake in SouthGobi Resources...