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Wednesday, July 6, 2011
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Mongolia Briefing is a magazine and daily news service about doing business in Mongolia. We cover topics relating to the Mongolian economy, the market in Mongolia, foreign direct investment and Mongolian law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates



Mining

Potential of Oil Shale in Mongolia

By Elena Fehrbach

Apr. 18 – Oil shale in Mongolia has been on the radar of technical experts and investors for a number of years already, but the actual potential of oil shale development in Mongolia has never been widely discussed. Preliminary “greenfield” estimates assume 800 billion tonnes of oil shale are available in Mongolia. The preliminary estimate was completed in 1990 based on exploration of about 19 per cent outlined oil shale area. Though the final amount of oil shale is not defined yet, it is clearly a promising opportunity for Mongolia to establish a fuel independence. Continue reading →

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Proposal to Develop Tavan Tolgoi Supported by Government

By Elena Fehrbach

Apr. 15 – Ch. Saikhanbileg, Minister of the Cabinet of Mongolia met Francisco J. Sanchez, the Under Secretary for International Trade of the U.S. Department of Commerce to discuss economic and trade cooperation between 2 countries. During the meeting, the Minister noted that Mongolia is willing to widen the economic relationship between Mongolia and USA. One of the important steps taken by the Ministry recently is introduction of the amended Strategic Foreign Investment Law creating encouraging investment opportunities for private companies. Continue reading →

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Majority Stake in Sainshand Industrial Park to be Foreign

By Elena Fehrbach

Apr. 8 – The Government of Mongolia has approved the investment structure for proposed Sainshand Industrial Complex, where 66 percent of investment is expected to be foreign. The preliminary feasibility study conducted by Bechtel Group Inc., a civil engineering company from the USA, shows that more than 10 billion USA investment may be required in total to fund the project, out of which 4 billion USD required to build the power distribution system and waste storage facility. The Development Bank of Mongolia is currently deciding on lending of approximately 10 million USD needed to cover the technical studies preparation. Continue reading →

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Tavan Tolgoi Power Plant to Increase Capacity

By Elena Fehrbach

Apr. 2 – The capacity of the planned power plant at Tavan Tolgoi coal mine will be increased from previously planned 300 MW to 450 MW. According to the Ministry of Energy, the capacity of the future plant should meet the needs of Tavan Tolgoi coal mine and help Oyu Tolgoi with power supply. Power plant will be fueled by the coal from Tavan Tolgoi. Continue reading →

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New Mineral Law proposed by the Mongolian Government

By Elena Fehrbach

Mar. 1 – Legal reform is continuing in Mongolia. Release of the new Strategic Foreign Investment Law draft in May 2012 is followed by release of the new Minerals Law draft. Minerals Law is truly considered to be one of the most important legal documents in Mongolia where 90% of all exports is occupied by different mineral commodities.

The current Minerals Law was adopted in 2006. The next step was taken on 17 June 2010 when the Government has issued the moratorium on issuance of the new exploration licenses. The moratorium was supposed to be in place until 31 December 2012, the date when the new Mineral Law was assumed to be adopted. Recently conducted plenary session has extended the moratorium term until the new Minerals Law is adopted. The current status of new exploration licenses issuing keeps local and foreign miners concerned about the opportunity to extend the portfolio of licenses by issuing and/or tender process, as the date of adoption of the new Minerals Law is not defined yet. Continue reading →

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Mongolia to Vote for its Parliament

Jun. 28 – Today is the day for Mongolians to vote in the 2012 Parliamentary Election. The Mongolian 76-member legislature – the Grand Khural – is sovereign with ultimate power over laws.

The Parliamentary Election of 2012 is scheduled to be carried out from 7 a.m. to 8 p.m. today, June 28. Due to the election, 11 political parties and two coalitions have submitted their platforms and nominated their candidates for new proportional representation party lists and majoritarian electoral ridings. Continue reading →

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Eight New Gates Open for Coal Transportation Between Mongolia and China

Jun. 11 – The recent opening of eight new border gates between Mongolia and China exclusively for coal transportation will significantly increase coal export capacity between the two nations, SouthGobi Resources Ltd. said in a statement.

Coal was previously transported out of Mongolia at Shivee Khuren-Ceke through a single gate approximately eight meters wide, which would allow empty trucks into Mongolia in the mornings and loaded trucks into China in the afternoons, the company said in a Hong Kong stock exchange filing. Continue reading →

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Altain Khuder Miner to be Listed in Hong Kong in 4Q 2012

May 24 – Macquarie and Bank of America-Merrill Lynch have been appointed joint global coordinators and bookrunners for the proposed listing of Mongolian iron ore miner Altain Khuder, a person familiar with the matter told Deal Journal Australia.

Altain Khuder is one of Mongolia’s largest iron-ore miners, which owns the Tayan Nuur iron ore mine in the southwest of the country. The company is planning to raise about US$300 million through a Hong Kong initial public offering (IPO). Continue reading →

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