Altan San Securities - Mongolia Investment

Mining News

KHAN GETS OFFER FROM RUSSIA'S ARMZ, SHARES LEAP

Russian uranium miner Atomredmetzoloto JSC (ARMZ) has offered to buy Toronto-based Khan Resources, which owns a controlling stake in a uranium project in Mongolia.
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OVER 50 THOUSAND PEOPLE ARE WORKING IN THE MINING SECTOR OF MONGOLIA

Mining sector is vital part of the Mongolian development. According to the Ministry of Mineral Resource and Energy, there are over 80 minerals in 1170 deposits and around 8000 mineral occurrences.
Foreign and domestic private investment in exploration business increased since 2007 and reached ₮280 billion. As of today, over 50 thousand people working in the mining sector. Mining sector contribution in the economy of the nation reached 28,2% of GDP, 64,3% of gross domestic production and 80,7% of total export.

Source: www.business-mongolia.com

OYUTOLGOI LLC TO WORK MORE WITH NATIONAL LABOR FORCE AND COMPANIES

Six weeks have passed since Oyutolgoi agreement was made. The project will begin fully after 10 conditions are fulfilled within six months. The Government said that five of them are finished: condition to sign the contract, structure of Ivanhoe Mines Mongolia Inc, possession issue was settled, Ontry Gold’s exploration license was transferred to mining license and Rio Tinto’s share holding was raised to 19.7 percent. According to the contract, it will own 46.3 million shares worth USD 388 million.

IVANHOE ENERGY SUBSIDIARY TO MERGE WITH PANASIAN PETROLEUM INC IN MONGOLIA

Ivanhoe Energy Inc. (TSX:IE) said Wednesday its Mongolian subsidiary would merge with Alberta-based PanAsian Petroleum Inc. in an all-stock deal.
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MONGOLIA -- THE NEW HOT SPOT FOR INVESTMENTS

Mongolia is the new hot spot for investment as it has the resources that China needs, said Mandar Jayawant, managing director at Frontier Investment Partners.
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