Mining News
Mongolia to host int`l mining investors forum Print E-mail
mining.jpeg     The 7th International Mining Investors Forum "Discover Mongolia-2009" will be held in Ulaanbaatar on November 5-7 this year. The Mongolian National Mining Association is one of the organizers of this action that will ber comprised of Mining Conference, Investors' Exchange Exhibition, Geology and Exploration Session, "Government Hour" meeting and others.

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Illegal gold mining destroys land in Gobi-Altai Print E-mail
   Some 1,500 people mining gold illegally in eight soums of Gobi-Altai province have destroyed about 661 acres of land. The police drove them away, but they always return after three or four days.
Source: www.news.mn

 
Draft agreement on Oyu Tolgoi investment will be signed before Naadam Print E-mail
oyu_tolgoi.jpeg“The Oyu Tolgoi draft agreement will be discussed, adopted by the State Great Khural and the Government will be granted with the power to sign on it very soon” says an official who is close to the development around the issue. According to his talks, the Oyu Tolgoi agreement will be adopted before the Naadam Festival and the Government might sign on it before the end of July.
Business-mongolia.com reviews that the biggest leverage for this urgency is obviously the global financial recession. Mongolia would have a budget deficit of 93 billion MNT (80 million US$) by the end of this year. Therefore, the Government had to cut some of its social welfare expenses, including new marriage allowance and child money.
Source: www.business-mongolia.com

 
Demparty group is meeting Print E-mail
oyu_tolgoi.jpeg    The Demparty group at SGK is meeting now. The party group will discuss several important issues, including hearing the working group report on Oyu Tolgoi draft agreement and the Treasury of the Motherland Fund, presented by the Government of Mongolia, BayanMongol (RichMongolia) Corp., presented by the party group. They will also discuss  another issue, rated as confidenital, of the Law on Mercy and the draft amendment in the law on Budget of 2009 of the Mongolia Development Fund.
Source: www.business-mongolia.com

 
Study group finds copper market was in deficit Print E-mail
copper.jpeg       World demand for refined copper exceeded supply by about 50,000 tons during March, the International Copper Study Group reported earlier this week. This followed a supply deficit of 27,000 tons in February, and a surplus of 124,000 tons in January. For the first quarter of 2009, the copper market showed a surplus of about 50,000 tons, compared with a production deficit of 67,000 tons a year earlier, the ICSG said. The increased deficit in March was mainly owing to continued high net Chinese imports of refined copper.
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