• MONGOLIA – JV to begin Nuurstei program

    Following Aspire Mining’s acquisition of a 50% interest in the Ekhgoviin Chuluu Joint Venture (ECJV) in June and a re-evaluation of historical exploration work, the ECJV has agreed to initiate an exploration drilling program at the Nuurstei Coal Project in northern Mongolia.

  • MONGOLIA – OT Production Returns to Normal

    Concentrate production for the second quarter at Turquoise Hill Resources’ Oyu Tolgoi Copper-Gold Project in southern Mongolia returned to normal rates after recovering from thickener rake repairs in the previous quarter.

  • MONGOLIA- Third MoU for Berkh Uul Coal

    A Mongolian industrial company has signed an initial non-binding Memorandum of Understanding relating to future potential coal supply, with Auminco Mines. Auminco, an unlisted public coal development company, is the subject of a takeover offer by Viking Mines and to date more than 97% of Auminco’s shareholder base has accepted the offer.

  • MONGOLIA - Government Bid to Spark Economy

    Mongolia’s parliament last week approved changes to the 2006 Minerals Law, a move it hopes will spark renewed investment in the struggling mining industry and boost exploration in the resource-rich northern Asian nation.

  • MONGOLIA - Second MoU for Berkh Uul Coal

    A second Mongolian Government power authority has signed an initial non-binding Memorandum of Understanding (MoU) relating to future potential coal supply, with Auminco Mines, an unlisted public coal development company which is the subject of a takeover by ASX-listed Viking Mines. To date more than 97% of Auminco’s shareholder base has accepted the Viking offer.

  • MONGOLIA - OT Notice of Dispute Filed

    Following receipt of an audit report from the Mongolian Tax Authority claiming unpaid taxes, penalties and disallowed entitlements associated with the initial development of the Oyu Tolgoi mine, Turquoise Hill Resources announces that a notice of dispute with the Government of Mongolia has been filed.

  • Banks still committed to OT expansion

    Mining in the open pit at the Oyu Tolgoi Copper-Gold Project. Copyright © 2014 Oyu Tolgoi.BANKS have agreed to extend their financing commitments to fund the underground expansion of the Oyu Tolgoi Copper-Gold Project (OT). By mid-May 14 of 15 banks had agreed to extend financing commitments to September 30 with a response from the final bank imminent.

  • Improving Mongolia’s export regulations

    CROWN Agents was recently engaged for a contract with the Mongolia Ministry of Mining (MoM) in an effort to streamline the export process for the mining industry. The MoM asked Crown to review how data is shared between the various Ministries involved in export regulations and look at ways to improve data sharing and exchange.

  • MONGOLIA - Credit Facility for SouthGobi

    SouthGobi Resources’ majority shareholder Turquoise Hill Resources is supporting the company by providing a US$10 million revolving credit facility in order to meet short term working capital requirements.

  • MONGOLIA – Aspire to Enter New Coking Coal JV

    Aspire Mining has entered into a binding agreement to acquire Xanadu Mines’ interest in a coking coal joint venture in northern Mongolia. The transaction covers Xanadu’s 50% interest in the Ekhgoviin Chuluu JV (ECJV) with the Noble Group retaining its 50% interest. The ECJV has a 60% interest in the Nuurstei project with the ability to raise this to 90%.

  • MONGOLIA - Exclusivity Agreement Over Bronze Fox

    Kincora Copper has entered into an agreement granting exclusive rights to carry out due diligence with respect to a potential joint venture, earn-in, strategic alliance, equity investment or other transaction in respect to its Bronze Fox project.

  • MONGOLIA - High Grade Gold and Base Metals Intersected

    A drilling program at Erdene Resource Development Corp’s Altan Nar Gold-Polymetallic Project in southwest Mongolia has intersected a high grade gold and base metals zone. The company has received the final results from recent a drilling program.

  • MONGOLIA - Drilling Under Way at Bronze Fox

    Kincora Copper has commenced drilling activities at high priority copper porphyry targets of the Bronze Fox Copper Project in southern Mongolia. The drilling follows the resumption of exploration activities at Bronze Fox.

  • MONGOLIA - Erdene establishes Union North continuity

    Drilling at the Union North Zone of Erdene Resource Development Corp’s Altan Nar Gold-Polymetallic Project in southwest Mongolia has intersected multiple gold-silver-base metal zones. The results have established the continuity of Union North at depth and along strike.

  • MONGOLIA - Boroo ball mill repairs

    Centerra Gold reports that the ball mill at the Boroo Gold Project was taken out of service last week following the failure of the mill’s vacuum contactors. A work-around has been developed and is being implemented.

  • Kharmagtai transaction ‘fair and reasonable’

    XANADU Mines has provided the independent expert and valuation reports for the Kharmagtai Copper-Gold Project in Omnogovi province of southeast Mongolia. The reports have been finalized to accompany the notice of meeting regarding the company proceeding with the Kharmagtai transaction. Shareholder approval is a condition precedent to Xanadu completing the acquisition of a 90% interest in Oyut Ulaan LLC, which owns the project.

  • Funds for Bronze Fox exploration

    AFTER closing an oversubscribed Can$5 million private placement, Kincora Copper is able to undertake drilling this year at its Bronze Fox Copper-Gold Project. The successful closing of tranche 1 of the placement totals $4.6 million while the second tranche of $425,000 is subject to regulatory approval and is expected in May.

  • Oyu Tolgoi expansion study near completion

    THE feasibility study for the underground expansion at Turquoise Hill Resources’ Oyu Tolgoi (OT) mine in southern Mongolia is expected to be complete by the end of June. Following completion the study must be approved by shareholders as well as the Mongolian Minerals Council.

  • Trenching reveals new Altan Nar zones

    ERDENE Resource Development Corp has received final assay results for the phase three trenching program it conducted at the Altan Nar gold-polymetallic project in southwest Mongolia. The trenching intersected multiple high grade gold and base metal zones.

  • MONGOLIA - Banks to keep backing OT expansion

    A group of banks has agreed to a six-month extension of a commitment to fund the underground expansion of the Oyu Tolgoi (OT) copper-gold mine in Mongolia. Fourteen of 15 banks have agreed to extend their financing commitments to September 30, with a response from the final bank expected shortly.

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