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Mine

  • Last June, Russia celebrated the 125th anniversary of the longest rail line in the world. It was indeed an event to celebrate, as 70 per cent of the country’s rail freight is carried along these tracks through the Siberian landscape, an area with a huge amount of natural resources.
  • Since boom-bust-boom cycles are normal in commodity markets, it is essential for resource-rich countries to manage their underground wealth prudently, through good times and bad. Some countries have done this more successfully than others, and Norway is taken to be among the best of them, while Mongolia realises it has not been particularly successful in fulfilling its potential.
  • Coal export is to reach 19.5 million tons in 2016, significantly more than in 2015, according to annual plans submitted by 47 coal mines to the Mineral Resources Authority of Mongolia.
  • One of Mongolia’s biggest coking coal miner Energy Resources re-commenced its extraction in Ukhaa Khudag mine in early December. The company had halted its extraction and coal processing, and announced layoffs with 60 percent of full salaries paid in last July. In September, the company stopped its coal exports and announced layoffs covering approximately 1700 staff with no salary.
  • Mining sector people are watching with concern how exploration licences issued by the MRAM are being rejected by the local communities which, by law, have the final say. Until some time ago, about 70 per cent of such allocated licences have failed to get the nod from local communities.
  • The ancient Mongols have a reputation for having been fierce warriors. A new study out of the University of Pittsburgh shows them to have been unmatched polluters.
  • Mongolia is hoping to drum up more foreign investor interest in its flagging mining industry after opening up an additional 10.1 million hectares of territory for mining exploration. The country, estimated to possess $1.5 trillion worth of mineral resources like gold, copper and iron ore, started the application process for exploration licences on Jan. 26.
  • Mongolia is hoping to drum up more foreign investor interest in its flagging mining industry after opening up an additional 10.1 million hectares of territory for mining exploration. The country, estimated to possess $1.5 trillion worth of mineral resources like gold, copper and iron ore, started the application process for exploration licences on Jan. 26.
  • A seven-member team of MPs appointed by the Economic Standing Committee claims to have unearthed several instances of misuse of funds at Erdenes Tavan Tolgoi LLC.
  • The environmental and human rights movement Gal Undesten (Fire Nation) has announced that it will move the International Court of Justice (ICJ) against Cogegobi LLC, an Areva Mongol subsidiary, if the latter does not agree to halt its operations in Mongolia.
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