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Sunday, 05 February 2012 00:00 |
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The Business Council of Mongolia with support of the GIZ’s Integrated Mineral Resources Initiative project and German-Mongolia Business Association is now registering Mongolian business delegation to USETEC (One of the largest international mining and industrial used machinery trade fair) Cologne, Germany March 05-07.2012.
The event will have used machinery dealers with a wide range of products on offer. A large number of exhibitors and visitors will participate in this event from all over the world. The exhibitors will have huge selection of machines and all these machines will be displayed in the fair.
The program includes also business & entertainment activities in Cologne.
Please contact 317027, 99066062 or
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for registration and additional information about the event.
Registration will close Feb 06. 2012.
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Saturday, 04 February 2012 00:00 |
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The Business Council of Mongolia in collaboration with the US Embassy’s Commercial Section is now registering Mongolian business delegation to participate to “New Yrok International Auto Show 2012” which will be organized in New York City, NY, USA on April 6-15, 2012.
For over one hundred years, the “New York International Auto Show 2012” continued its pioneering tradition of bringing new and innovative ideas to a national and world stage, which makes the event one of the most important automotive event in the world. The show offers virtually every make and model vehicle sold in the U.S. under one roof giving consumers the unique opportunity to see everything the auto industry has to offer.
Please call 70114442 or email
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for registration and additional information about the event.
Registration deadline is 5:00PM, February 21, 2012.
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Thursday, 02 February 2012 09:31 |
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Source: FT.com
Deloitte and one of its former partners have been accused of misconduct over their links to the businessmen who presided over the collapse of British carmaker MG Rover.
The Accountancy and Actuarial Discipline Board, a regulator, has decided to haul Deloitte’s UK arm before a public tribunal to answer for an array of alleged failures related to the scandal.
Maghsoud Einollahi, a retired Deloitte corporate financier who played a prominent role in the affair, has also been targeted by the disciplinary action, which comes amid a broader regulatory crackdown on the biggest accountants.
The AADB’s accusations concern Deloitte’s relationship with the Phoenix Four, the now notorious quartet of businessmen who led the purchase of MG Rover from BMW, the German carmaker, in 2000.
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Monday, 30 January 2012 18:57 |
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Source: Oxford Business Group
Last year saw the prospect of Mongolia’s vast untapped natural mineral wealth drive heady levels of investment and growth, with the government aiming to harness the momentum by diversifying the economy and improving infrastructure, employment and housing. However, Prime Minister S. Batbold’s administration will likely face political pressures over protecting the country's resources in the lead-up to this June’s election.
The National Statistical Office of Mongolia (NSO) revealed in October that GDP grew 16.7% in the third quarter of 2011, in line with an annual average expected to outperform the 2010 figure of 7%. However, it is expected that the Oyu Tolgoi copper and gold mine alone will boost Mongolia’s economic growth and GDP by 25% or more when production starts in late 2012 or early 2013.
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Saturday, 28 January 2012 13:44 |
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source: Mining Weekly, Reuters
Rio Tinto PLC raised its stake in Canada's Ivanhoe Mines Ltd., the 66 percent interest holder in the Oyu Tolgoi copper-gold project, to a majority stake but said it had not current plans to buy more shares. The move came after Ivanhoe Mines scrapped the shareholder rights plan that prevented Rio Tinto from gaining control of the company.
In December, an arbitrator invalidated the so-called “poison pill,” which Ivanhoe could have used to force the Anglo-Australian company to pay more for control. It was no secret that Rio Tinto covets the Oyu Tolgoi asset and wanted to gain control of it.
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Saturday, 28 January 2012 13:43 |
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source: Sydney Morning Herald
Rio Tinto PLC is expected to offload a number of Australian and Asian assets now under its control after it clinched majority ownership of Canadian explorer Ivanhoe Mines Ltd. Rio's long held desire to own the lucrative Oyu Tolgoi mine in Mongolia came to fruition when a private purchase of 15.1 million Ivanhoe shares lifted Rio's stake in the Canadian company from 49 percent to 51 percent.
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Saturday, 28 January 2012 13:42 |
Source: Aspire Mining Ltd
Coal explorer Aspire Mining Ltd. has confirmed the existence of coking coal at a new coal discovery area to the north east of its Ovoot coal project.
Initial raw coal analysis shows mid-volatile, low-moisture coal, similar in characteristic to that found at Ovoot. The firm next plans to begin washing experimentation to test yields from processing and potential product specifications.
Aspire Mining expects to complete 16,500 meters of exploration drilling through 2012. Exploration targets include the new coal discovery area, and the Hurimt and Zuun Del prospects within the Ovoot project. Geotechnical and water drilling will continue.
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Saturday, 28 January 2012 13:42 |
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Berkh Uul JSC has completed its drilling program at the Delgerkhaan fluorspar deposit. The goal of the program was to verify drilling data, enabling the registration of reserves with Mongolian authorities of the Mineral Resource Authority of Mongolia (MRAM).
The minerals explorer drilled 1,700 meters at the site to confirm the mineral data for registration and prepare a resource report. Drilling came into contact with previous mineral veins established by the historic data based on drilling by Russians in the 1960s. A local consulting firm will prepare a resource report for the MRAM, while Micromine, an Australia-based mining consultant, prepares the NI 43-101 report. The company's management expects the report to have similar data to that of the historical document.
Berkh Uul JSC is a diversified Mongolian mining and exploration company. It is listed on the Mongolian Stock Exchange (MSE) Top 20 index and is controlled by funds managed by Firebird Management LLC, a New York-based private equity and hedge fund management company. Its primary asset is the Delgerkhaan fluorspar deposit.
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