Russian state-owned mining firm ARMZ Uranium Holding Company wants to acquire at least two-thirds of Canadian rival Khan Resources Incorporated, Russian news agencies reported on Monday. 

Mongolia’s new prime minister wants to pursue an initial public offering of the country’s state-owned mineral assets on an international stock exchange as a way to generate more money from natural resources that have recently attracted a flood of foreign investment. View Full Image MONGOLIA Government of Mongolia Prime Minister Batbold Sukhbaatar said it was time for Mongolia to begin thinking about a move to international financial markets.

Mr. John Kozakov, President of Boroo Gold company, the biggest gold producer in Mongolia expressed its readiness to invest $1 million to Ulaanbaatar City during the meeting with Mr. T.Bilegt, the Chairman of House of Representatives of Capital City.

Boroo Gold, the second biggest taxpayer of Mongolia in 2007 and third in 2008, is interested in investing in the projects that are in need for the development of Ulaanbaatar City and its citizens. This investment can be used for the National Recreational Park, planed to be built along Tuul River, and procurement of necessary equipment and facilities of hospitals.

Peabody Energy Corp., China Shenhua Energy Co., Vale SA and other companies interested in mining a coal deposit in Mongolia should expect to produce fuel for domestic consumption if they’re awarded the development rights, a lawmaker said.

The winning group of investors, to be selected by April, will be required to convert some of the thermal coal in the Tavan Tolgoi deposit into clean-burning fuel, Batkhuu Gavaa, deputy speaker of Mongolia’s parliament, said in an interview today in the capital, Ulaanbaatar. Lawmakers want to include the provision into any agreement to help cut Mongolia’s dependence on foreign fuel and create jobs, Gavaa said.

Cameco Corp., the world’s second- largest uranium producer, agreed to sell its stake in Centerra Gold Inc. for about C$872 million ($820 million), fulfilling a pledge to focus on uranium and nuclear energy.