mining

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Finding the next Oyu Tolgoi: all eyes on Mongolian copper

 

For too long the Mongolian mining story has focused on Rio Tinto and little else. Through its joint venture with the government, it will deliver the third largest copper mine in the world- a project that could contribute as much as 30% of the country’s GDP. With billions spent and committed, it’s little surprising minds have fixated on this project.

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Mongolia Economic Report

Mongolia is a landlocked and sparsely populated nation in Central Asia, wedged between Russia and China. The country was a Soviet satellite state until 1990, when it began its transition towards democracy and a market economy. The first years of this transition were difficult for Mongolia; the country was dependant on Soviet financial assistance and its economy primarily based on animal husbandry and nomadic herding. Economic collapse saw rampant inflation, food rationing and widespread shortages.

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Mongolian Metals Corporation (MMC)

 

Mongolian Metals Corporation is a private exploration company with a license in the heart of the highly mineralised South Gobi Copper Belt in South West Mongolia. The 75,000 hectare license is prospective for high grade copper and gold.

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How to acquire an exploration mining license in Mongolia

Companies in or considering getting into the Mongolian mining industry need to be aware of new changes in procedures for obtaining a license for minerals exploration. Recent changes to exploration license legislation facilitate:

  • Application for and registration of a minerals exploration license
  • Interest in continued minerals exploration in the Mongolian steppe
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Gold in the Gobi: Oyu Tolgoi production set to double in 2018

 

Mongolia’s gold industry is expected to see a major boost in 2018, with the Oyu Tolgoi mine set to double its output to between 240,000 to 280,000 ounces. As Oyu Tolgoi enters its later phases, higher grades and increased recovery will significantly enhance the projects capacity. This will further propel the recovery of the Mongolian economy.

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Cleaner and greener: moving away from coal in 2018

While coal was Mongolia’s top performing commodity in 2017, Mongolia observers predict copper to steal the show this year. As a resource-based and export-focused economy, the outlook for Mongolia is strongly influenced by global market movements. These look set to crown copper as the country’s top earner.

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What does Aspire’s latest finding mean for Mongolian coal?

 

In 2017, Mongolia’s coal deposits helped the country move to recovery. Often associated with toxic emissions- and in Mongolia’s case, chronic air pollution- it was instrumental in the delivery of growth exceeding 5%. The reasons are well documented and understandable. Even with more muted industrialisation, China is a key steel producer and relies on coal to power its mills. As my colleague recently reported, though, Xi Jingping and others are genuinely making green overtures, and this led to the closure of hundreds of mines in Inner Mongolia last year. Combined with a ban on North Korean imports, this placed Mongolia as a key exporter.

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Foreign Mining Companies

 

Below is a listing of the non-Mongolian mining companies active in Mongolia. Many of them trade on stock exchanges around the world.

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