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News briefs

  • The full-year report for 2016 recently released by the National Statistics Office says the foreign trade turnover was $8.275 billion, 2.3% less than in 2015. Exports rose 5.3% year-on-year to reach $4.917 billion but imports fell 11.6% to $3.358 billion.  The trade surplus of $1.559 billion was 1.8% higher than in the previous year.
  • Cameron McRae, former CEO-President of Oyu Tolgoi, is now Chairman of TerraCom. He will take an active role in leading the company into becoming a global independent coal miner.
  • The main contract to build the $5.3-billion Oyu Tolgoi underground mine has been awarded to USA-based Jacobs Engineering,  one of the world’s largest and most diverse providers of technical, professional and construction services. Jacobs will provide engineering, procurement and construction management (EPCM) services for the project and will be responsible for implementation of the materials handling systems and associated surface and underground infrastructure.
  • The main contract to build the $5.3-billion Oyu Tolgoi underground mine has been awarded to USA-based Jacobs Engineering,  one of the world’s largest and most diverse providers of technical, professional and construction services. Jacobs will provide engineering, procurement and construction management (EPCM) services for the project and will be responsible for implementation of the materials handling systems and associated surface and underground infrastructure.
  • Four international companies – CPP-MAX (Mongolia-China consortium), ISN (Mongolia-UK JV), a Mongolia-Canada consortium, and a Mongolia-China consortium – have so far expressed their interest in building the proposed oil refinery in Bor-Undur soum in Khentii aimag, according to Industry Minister D. Erdenebat. 
  • The untimely death of Luntangiin Bolormaa, founder editor of the Mongolian Mining Journal, on 21 November, is an invaluable loss for Mongolian journalism.
  • Л.Болормаа была одной из ярчайших звезд современной истории журналистики.
  • 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.
  • The NGO XAMODX is the first Mongolian organization, only the fourth in the world, and the only one outside South America to have been awarded the Fairmined Certification by the Alliance for Responsible Mining recognizing that the gold it produces is without the use of mercury or cyanide.
  • MP and Minister of Industry D.Erdenebat has used his twitter account to explain why he is against development of mining in the Noyon Mountain area. His tweet reads:
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