Mongolia listing boosts investors confidence in Erdene Resource

MINEX Forum | June 1, 2018
img0 Shares in Canada’s Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia’s ever-changing policies on foreign mining investment, were off to the races on Thursday after the miner announced it had received approval for a secondary listing on the Mongolian Stock Exchange (MSE). The Halifax, Nova Scotia-based miner also said ...

Aspire Mining coking coal production ambitions boosted by Russia-Mongolia talks

MINEX Forum | May 21, 2018
img0 Coal explorer and aspiring coking coal producer Aspire Mining (ASX: AKM) has received an indirect boost as a result of macroeconomic developments within its operational area in northern Mongolia. The developer of a key railway connection that’s crucial to Aspire’s chances of production success in Mongolia, Northern Railways LLC, hosted a senior delegation from Russia’s ...

Erdene soars as Altan Nar project in Mongolia proves larger than predicted

MINEX Forum | May 11, 2018
img0 Erdene soars as Altan Nar project in Mongolia proves larger than predicted The Altan Nar (meaning Golden Sun) gold-polymetallic project is located in the Tien Shan Gold Belt, southwest Mongolia. (Image courtesy of Erdene Resource.) Shares in Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia’s ever-changing policies on foreign ...

A withhold up in Mongolia?

MINEX Forum | April 10, 2018
img0 Summary Governments of mining countries are vulnerable to investors using double tax agreements (DTAs) as a means of avoiding paying taxes. DTAs are bilateral, or multilateral agreements between countries that set out which country has the right to collect tax on different types of income. Interest expense on foreign loans is one such source of ...

Mongolia, Kazakhstan to enhance mining cooperation

MINEX Forum | April 9, 2018
img0 Mongolia and Kazakhstan signed a Memorandum of Understanding Friday to boost cooperation in geology, mining and civil aviation. The document was inked during the 7th meeting of the Intergovernmental Commission between Mongolia and Kazakhstan on Trade, Economic, Scientific and Technical Cooperation, which was held on March 29-30 in Astana, Kazakhstan, Mongolian Foreign Ministry said. On ...

Mongolia, Kazakhstan to set up gold refining plant

MINEX Forum | April 3, 2018
img0 Mongolia and Kazakhstan agreed on setting up a gold refinery plant during the 7th Mongolia-Kazakhstan Intergovernmental Commission’s meeting, Mongolian Minister of Mining and Heavy Industry D.Sumiyabazar said. Minister Sumiyabazar met Deputy Minister for Investments and Development of Kazakhstan Arystan Kabikenov on March 30. At the meeting they established a memorandum of cooperation in fields of ...

Oyu Tolgoi completes sinking Shaft 5

MINEX FORUM | March 22, 2018
img0 Mongolia’s massive Oyu Tolgoicopper/gold mine has achieved its latest important milestone after sinking of the new Shaft 5 has been completed. The shaft has a final depth of 1 178 m. Sixty-six per cent owner, Vancouver-based Turquoise Hill Resources announced on Wednesday that installation of the exhaust fan had started during the fourth quarter, and is expected to be complete early in ...

Swiss seize bank accounts amid probe linked to Rio Tinto Mongolia mine

MINEX FORUM | March 20, 2018
img0 Photo: Anti-graft authorities in Mongolia are investigating the country’s 2009 investment pact with Rio Tinto that kickstarted the company’s Oyu Tolgoi copper-gold project. (Image courtesy of Oyu Tolgoi LLC) Switzerland’s highest court has upheld the seizure of $1.85 million in Swiss bank accounts, part of a corruption probe linked to a former Mongolian finance minister who ...

As copper booms, miners take hunt to Mongolian dunes

MINEX FORUM | March 13, 2018
img0 When temperatures rise and winds drop in the coming weeks, a band of explorers will hunt for copper riches in Mongolia’s Gobi Desert. For years Rio Tinto has been the sole international coppermine operator in Mongolia, bound closely to a country where it has bet billions of dollars on the giant Oyu Tolgoi project. Others have steered clear due to the risks of operating in a ...