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Mongolia is revising its mining regulations and preparing to submit a final draft to parliament in an attempt to attract more foreign investment in the sector. While the Mongolian government has traditionally be very sober about its legislation and has not made any overt attempts at resource nationalism or legislative adjustments that would give it an unduly larger share of …

By Jargalsaikhany Mendee The first public debate on the proposed revisions of Mongolia’s mining regulations was conducted at the Citizen’s Hall of the Mongolian government on January 18, 2013. Although the revisions are long overdue, legislators appear to be in agreement that more deliberations are necessary in order to reflect the concerns and suggestions of miners, investors and the public …

Jargalsaikhany Mendee writing in the Asia Times Online argues Mongolian lawmakers in the process of finalizing a new bill to regulate the mining industry are hoping to avoid the mistakes of the past. The Mongolian parliament has revised the rules governing mining companies and foreign investment in the sector several times since introducing its so-called Gold Program in 1990, but …

World number two miner Rio Tinto (LON:ASX) has suffered another setback at Oyu Tolgoi in Mongolia after the US refused to vote on World Bank funding to expand the massive copper-gold project in Mongolia. Operator Turquoise Hill Resources (TSX:TRQ), which is controlled by Rio, has already spent more than $6 billion on the mine in the south Gobi desert where …

Mongolia is planning to ease a key restriction on foreign investment by raising by tenfold the size of deals that must be approved by parliament, the nation’s foreign minister said in an interview. The threshold will be raised to 1 trillion tugrik ($715 million) from 100 billion tugrik, Luvsanvandan Bold said, adding that the decision would please foreign investors hoping …

Mongolia will ease limits on foreign investment that requires parliamentary approval even as it restricts overseas ownership in industries such as mining amid a dispute with Rio Tinto Group. The threshold will be raised to 1 trillion tugrik ($715 million) from 100 billion tugrik, Foreign Minister Luvsanvandan Bold said today in an interview. “Today at the cabinet meeting this issue …

Trade Development Bank of President Randolph Koppa -How do you see the Mongolian coal industry future? -The future for the Mongolian coal industry is bright. For coking coal, which China will continue to import in ever increasing volumes, Mongolia has a potentially sustainable competitive advantage. The proximity of the main mines to China, the high quality of the coal and …

Altan Rio Minerals Limited (AMO.V) announced that, subject to acceptance by the TSX Venture Exchange, it proposes settling a debt for drilling services of $245,860 to Erdenyn Erel LLC, a private Mongolian company, by issuance of an aggregate of 1,606,928 common shares in the company. As per the agreement, shares will be issued at a 15% discount to market price. …

Rio Tinto (RIO:LSE)  is considering halting work at its $10 billion Oyu Tolgoi copper and gold project in Mongolia over profit-sharing and ownership demands from the government. The threat, which could suspend mining and processing at the newly constructed mine, was not confirmed by Rio Tinto to Bloomberg which cited “people familiar with the plans,” but who “aren’t authorized to …

Mongolia is exporting nearly all excavated minerals due to absence of metallurgy processing plant in its territory; thereby in order to seize the export flow of iron ore and work more profitable producing end-products locally, Mongolian Metallurgy Manufacturer Union, which was formed recently in the midst of this month, has decided to implement a project to build its own plant …