Mining News
IVANHOE MINES ANNOUNCES FINANCIAL RESULTS AND REVIEW OF OPERATIONS FOR THE THIRD QUARTER OF 2009 Print E-mail
Ivanhoe Mines Ltd. (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) today announced its results for the quarter ended September 30, 2009. All figures are in US dollars, unless otherwise stated.

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GEOPHYSICAL SURVEY RESULTS FROM RED HILL ENERGY'S KHOOT OVOO PROJECT NEAR ULAAN OVOO SHOW POTENTIAL Print E-mail
Red Hill Energy (TSX VENTURE:RH) announced today the results from its recent geophysical survey program on its 4,961 hectare Khoot Ovoo property in northern Mongolia. Dual magnetic and IP resistivity surveys show strong potential for a coal-bearing basin only 20 km from Red Hill's 100% owned, 208 million tonne hard coal resource at Ulaan Ovoo. Surface prospecting at Khoot Ovoo previously identified this as the most prospective of several sedimentary basins near Ulaan Ovoo. If confirmed, the proximity of both basins could significantly enhance the life and economics of a large mining operation in this region.


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THE NEXT COAL FRONTIER: MONGOLIA Print E-mail
Mongolia is quickly becoming the next great frontier for the world’s supply of coal, copper, uranium, and gold. The country is as undeveloped as the Democratic Republic of Congo, though somewhat more stable, politically — although that is not saying much.

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WORKING GROUP TO EXECUTE OYUTOLGOI AGREEMENT REFERENCES Print E-mail

TheGovernment meeting yesterday decided that the Oyutolgoi investment agreementwill be fully valid after certain conditions are fulfilled within six months ofits signing. A working group was established, led by Minister for Minerals andEnergy D.Zorigt, to work on 13 requirements, which include finalization of thetechnical and economic evaluation of Oyutolgoi, renaming the company asOyutolgoi LLC and some issues related to tax, investment and property.

Source: www.news.mn

 
MONGOLIA ENERGY SIGNS COAL MINE PRODUCTION AGREEMENT Print E-mail
Mongolia Energy Corp., the Hong Kong-traded mineral and energy explorer, signed a $206 million agreement with a contract miner to extract coal from its pit in the west of the country.

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