A fledgling producer of iron ore, molybdenum, fluorspar and zinc alongside its big three minerals – copper, gold and coal – Mongolia’s extensive deposits hold significant promise for further diversifying output. However, moving from exploration to mining for new minerals such as uranium and rare earths will depend on high-level government support. While output of...
First deliveries of “Mongol93” hit the market in May 2013. With its plans to build a domestic refinery delayed, Mongolia has agreed to swap crude for refined fuel with PetroChina, a subsidiary of China National Offshore Oil Corp. This new import source, though still expensive, should reduce Rosneft’s leverage at the trading table. Even a...
For Mongolia’s frontier mining industry, long dominated by the promise of future production, 2013 marked a watershed with the commercialisation of the first phase of the world’s largest undeveloped copper and gold mine, Oyu Tolgoi (OT). Despite uncertainty over OT’s future expansion and challenges for Mongolia’s coking coal miners, a government mandate fresh from the 16-...
Having seen little investment in new generation capacity over the past decade, Mongolia is now forging ahead with upgrades to its coal-fired heat and power (CHP) capacity and trying to lure private investment to greenfield plants. Given a looming power shortage, which the Ministry of Energy (MoE) projects at 250 MW by 2016 but the IMF estimates...
Energy security was never going to be easy for a country as big as Iran but with only about 3m people. Despite abundant reserves of coal and rich potential for wind, solar and hydroelectric power, Mongolia has lagged in exploiting its natural resources. From generation to transmission to distribution, its power infrastructure is outdated, and...
Mining investors’ sentiment has ebbed and flowed in line with Mongolia’s regulatory framework, with near-yearly attempts for either wholesale revisions to the Minerals Law or proposals for new legislation covering environmental standards, governance or foreign investment. Conscious of the need for a coherent and consistent regulatory approach,...
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