Private Investment on the rise for Myanmar
In a country where most investments go to lucrative mining, hydropower and oil and gas, private investment worth 133 billion kyats (US$156.5m) has been put into transportation, manufacturing, farming and others within a month. More…
Reposted from The UB Post
By Paulius Kuncinas, Regional Editor, Oxford Business Group
Efforts by Mongolia’s government to improve conditions for increasingly wealthy local consumers bode well for the fledgling retail industry. There are concerns, however, that watchdogs and legislation will not be able to keep pace with the rapid growth of the industry. More…
Work being done in October on a new road in the South Gobi Desert, part of the investment in infrastructure for the Oyu Tolgoi gold and copper mine.
Mongolia is refusing to support Rio Tinto’s efforts to raise as much as $6 billion in loans tied to its Oyu Tolgoi gold and copper mine in the Gobi Desert.
“The government of Mongolia does not support the Oyu Tolgoi Phase Two project-finance effort initiated by Rio Tinto, due to the still ongoing shareholder discussions,” a Mongolian government official familiar with project said. More…
Vale, the Brazilian mining giant, is planning to spend $7 billion on projects in Africa
Reposted from WSJ Market Watch
By Alex MacDonald
Brazilian miner Vale SA plans to invest $7 billion in seven African nations in the coming years with a focus on coal in Mozambique, iron ore and bauxite in Guinea and copper in Zambia, the Democratic Republic of Congo and Angola, said the company’s global head of corporate affairs Wednesday. More…
Heavy machinery moves coal at the Oyu Tolgoi mine in Mongolia.
Rio Tinto Group (RIO), the second-biggest mining company, is considering a temporary halt to construction work at its $6.2 billion Oyu Tolgoi copper and gold project in Mongolia as the government demands a greater share of profit from the mine, according to two people familiar with the plans. More…
Reposted from Mining-Weekly.com
By Reuters
ULAN BATOR – Mongolia’s giant Tavan Tolgoi coal project is facing financial difficulties and an initial public offering for the mine originally scheduled for this year will not go ahead, the chief executive of the development said on Thursday. More…
Reposted from Stockhouse
By Leo Liu, MBA, CFA
It has the potential to become a major player in global commodity markets with its rich gold, copper, zinc, uranium, coal, molybdenum and oil reserves.
Mongolia, entirely flanked to the north and south by Russia and China, is the most sparsely populated country in the world. However, the country has vast natural resources with more than 6,000 known mineral deposits of 80 different minerals. More…
Reposted from Bloomberg News
By Michael Kohn
Mongolia’s Erdenes Tavan Tolgoi LLC, the country’s largest state-owned coal company, is seeking a $400 million to $500 million government loan to repay debt and build infrastructure, its chief executive officer said.
“Our financial situation is very complicated at the moment and we have to cover our debts and finance all our infrastructure projects and operations,” Yaichil Batsuuri, a former member of Parliament who has led Erdenes Tavan Tolgoi since October, said in a telephone interview yesterday. More…
Reposted from Origo Partners PLC
By Dale Choi, Associate – Market Intelligence
Highlights of Events
The Office of the President of Mongolia has published a revised draft Minerals Law on its website on December 7, 2012 (http://www.president.mn/mongolian/node/3080). Feedback is welcome via the e-mail address delgermaa@president.mn until January 18th, 2013.
The current Minerals Law has 66 Articles and was introduced in 2006. The +100 pages long draft Law with 145 Articles is a revision to the existing framework that has been pending for the last few years and seeks to introduce a new More…
Reposted from The UB Post
By B. Khash-Erdene
Currently, the mongolian government has 6.7 trillion MNT in debt. In the last twenty years, the government has lent around three trillion MNT. On June 2012, the Development Bank released bonds worth 580 million USD and in addition to this the government has released bonds worth 1.5 billion USD last month. More…
