Ulaanbaatar /MONTSAME/ A lobby group to support responsible mining was established by some parliament members. MPs A.Undraa, N.Amarzaya, Ts.Garamjav, Ya.Sodbaatar, O.Sodbileg, G.Temuulen and J.Bat-Erdene initiated the lobby group to raise an issue of responsible mining development at legislative level within legal framework.
Ulaanbaatar /MONTSAME / The Ministry of Finance and the Government Agency For Policy Coordination on State Property are jointly conducting investigation on Erdenet Mining Corporation’s production, financial and economic activities by the end of 2016 in pursuance of orders issued by the Parliamentary Standing Committees on Economy and Justice.
Ulaanbaatar /MONTSAME/ The state-owned “Erdenes Mongol” LLC and the Mongolyn Alt Corporation (MAK) established a joint company named “Erdenes Ashid” to work in geological exploration and studies by signing the agreement on Monday, February 13.
Ulaanbaatar /MONTSAME/ During the Oyu Tolgoi Underground Development Supplier Forum held on January 31, Oyu Tolgoi LLC reports that some 83 percent of all of its contracts were made with Mongolian companies, which equal to USD 760 million.
Ulaanbaatar /MONTSAME/ During its regular meeting on January 25, the Cabinet resolved to establish working groups designed to hold talks with Centerra Gold Inc, which holds a mining license in Gatsuurt gold deposit regarding the establishment of investment and exploitation agreements on the strategic deposit.
Ulaanbaatar /MONTSAME/ Last year, Mongolia exported USD 758.4 million worth of gold. According to National Statistical Office of Mongolia (NSO), 69.7 percent were exported to UK, 30.2 percent to Switzerland and the rest were exported to Nepal.
Ulaanbaatar /MONTSAME/ Oyu Tolgoi announced an update on its production for the fourth quarter of 2016 and released the latest edition of its Performance Scorecard on January 24.
Ulaanbaatar /MONTSAME/ By the end of 2016, mining licensed area occupies 0.9 per cent of the total territory of Mongolia with 1558 valid mining licenses. In addition, exploration licensed area makes up 7.7 per cent of the territory with its number of licenses of 2022.
Ulaanbaatar /MONTSAME/ In regard to his meeting with Prime Minister J.Erdenebat on January 20, Erdenes Tavan Tolgoi CEO D.Ariunbold briefed reporters on the company’s operations at Tavan Tolgoi deposit, one of the world’s largest coal fields.
Ulaanbaatar /MONTSAME/ On January 20, D.Ariunbold, CEO of Erdenes Tavan Tolgoi JSC, a subsidiary of state owned investment company Erdenes Mongol met with Prime Minister J.Erdenebat to brief on a recent coal trade.
Ulaanbaatar /MONTSAME/ Mongolian Government has now a debt of USD80 million unpaid from USD350 loan to the Aluminum Corporation of China Limited (Chalco).