16 Nov 2010

Green Gold: How Carbon Finance can Help Mongolian Herders

A report has been published outlining the effects of the mining boom for Mongolian herders, that make up 41% of the population. With dramatic changes in motion, a crucial part of Mongolian life is in danger of being eroded. “70% of [land] has gone through desertification.  While the government is attempting to address the fact that 60% of the population ...
16 Nov 2010

Mongolian Government Approves Prophecy Resource's Environment Impact Report for Chandgana Coal Project, Proactive Investors

Prophecy Resource Corp said Monday that the detailed environmental impact assessment (DEIA) report pertaining to the company's Chandgana coal project has been approved by the Mongolian government. The company said that the study concludes that there are no major impediments to the project, which aims to build a coal-fired plant serviced by coal produced from the site. The DEIA is ...
16 Nov 2010

Petro Matad Spuds Davsan Tolgoi-4 Well, Proactive Investors

Petro Matad has announced the spudding of its Davsan Tolgoi-4 (DT-4) exploration well, which could be the last well to be drilled in 2010 on the Greater Davsan Tolgoi prospect in Mongolia’s B# # LOCK XX. The DT-4 well is being drilled vertically to an estimated target depth of approximately 2,020 metres.  The well is being drilled by contractor DQE ...
15 Nov 2010

General Mining Corporation Completes Potash Targeted Drilling in Mongolia, Marketstock.com

The shallow structural drilling program targeting bedded potash by General Mining Corporation (ASX: GMM) in Mongolia, has been completed, with eight holes drilled by a combination of direct circulation rotary and down-hole hammer drilling to a maximum depth of 150 metres. General Mining said no salt has been detected in drill cuttings at these shallow depths, with the geophysical logs ...
15 Nov 2010

Origo Partners Invest in Altan Takhi Company

Origo Partners Plc ("Origo") today announced the acquisition of a 30% stake in Altan Takhi Company ("ATC"), for a total cash consideration of US$3 million. ATC owns a 100% interest in the Budag Tolgoi copper-gold prospect ("Budag Tolgoi") situated in the central copper belt of Mongolia. Under the terms of the transaction Origo has also been granted an exclusive option, ...
15 Nov 2010

Prophecy Receives Permit to Mine at Ulaan Ovoo in Mongolia, Opening Ceremony November, 20

Prophecy Resources announced that on November 9th, the Company received the final permit to commence mining operations at its Ulaan Ovoo coal mining project in Mongolia. Prophecy is one of very few international mining companies to achieve such a significant milestone. The mine is production ready, with an official mine opening ceremony scheduled for November 20, 2010. John Lee, CEO ...
15 Nov 2010

Petroleum Refinery Certain to Come up Before 2014, News.mn

Petroleum Authority Chairman D.Amarsaikhan recently told citizens of Zuunbayan in Dornogobi that exploration for petroleum in the area was very important for the country. The people had wanted to know how a Chinese company, Dongsheng, keeps exporting 40-60 trainloads of petroleum every week to China. Amarsaikhan said the company discovered petroleum in Zuunbayan in 1994 and now works under a ...
15 Nov 2010

Khan Resources to Fight Mongolia License Decision, Reuters

Khan Resources said on Friday that it would use all available legal means, including international arbitration, to fight a decision by Mongolian authorities not to reinstate the Canadian miner's licenses at the Dornod uranium deposit. Toronto-based Khan said Mongolia's Nuclear Energy Agency (NEA) had published a notice in Mongolian newspapers saying it would not reinstate the exploration and mining licenses. ...
15 Nov 2010

2011 Budget Submitted, UB Post

The Cabinet submits the revised draft budget for next year to Parliament upon receiving criticisms from party blocs in Parliament as well as the Council of Speaker. S. Bayartsogt, Minister for Finance, assured the Speaker that the Cabinet has carefully revised the draft to reflect suggestions made by MPs and party blocs.   In the first 10 months of 2010, ...
16 Jul 2010
Tenger Financial Group and XacBank Conclude Successful Exit From Mol Bulak Finance MCC, Kyrgyzstan

Tenger Financial Group and XacBank Conclude Successful Exit From Mol Bulak Finance MCC, Kyrgyzstan

July 16, 2010. TenGer Financial Group and its subsidiary, XacBank, Mongolia’s leading commercial bank with microfinance focus, have successfully closed equity sale of their combined 30.5% stake in microcredit company Mol Bulak Finance, Kyrgyzstan. The original investment in MCC Mol Bulak Finance was a milestone for TenGer Financial Group and XacBank (the “Group”) with long-standing vision and strategy of sharing achievements of XacBank with ...