Rosatom Inks Peaceful Atom Accord with Mongolia

Russia's atomic energy state corporation, Rosatom, and the Mongolian Nuclear Regulatory Authority have agreed to increase cooperation.

Russia's atomic energy state corporation, Rosatom, and the Mongolian Nuclear Regulatory Authority have agreed to increase cooperation. The agreement was signed after talks were held between Russia and Mongolia's prime ministers. The purpose of the document is to provide an impetus for developing interaction in the peaceful use of atomic energy. Talks began in April 2008, where the chief of Rosatom held talks with Mongolian Prime Minister Sanjaa Bayar that led to drafts for the designs of small and medium capacity nuclear power plants in Mongolia with the potential to further explore the nation's uranium fields.

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Shenhua Energy Gets Approval for Railway Project

China's Shenhua Energy Co., nation's biggest coal supplier, received approval for $725 million railway project that would ameliorate transportation bottlenecks and help ensure adequate supplies.

China's Shenhua Energy Co., nation's biggest coal supplier, received approval for $725 million railway project that would ameliorate transportation bottlenecks and help ensure adequate supplies. The coal producer will have majority stake in the 128 kilometer railway track in the Inner Mongolia Region. In July, coal prices at China's Qinghuandao port reached a record high because of transportation issues in the Mongolian region. The construction of the rail tracks would be in addition to the already pre-existing 1,400 kilometers of tracks operated by Shenhua. Coal is projected to be China's primary source of energy, which bodes well for the world's largest coal producer and user.

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Sedgman secures Energy Resources Mine Contract in Mongolia

Sedgman, a mineral processing solutions provider, has won a $20 million contract from Mongolia's Energy Resources.

Sedgman, a mineral processing solutions provider, has won a $20 million contract from Mongolia's Energy Resources. Sedgman is said to provide design, procurement and construction management services for a coal handling and processing plant in the South Gobi region. This is the company's first win since operations began in Beijing. The win marks Sedgman's the success of Sedgman's international expansion strategy. The region is said to have full of future development potential. The coal processing plant shall be first of its kind in Mongolia and will hence set forth future mine development standards. Due to the South Gobi region's proximity to China's major steel makers, it is believed that production growth to expand at a rapid rate.

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Standard Chartered Opens First Village Bank In Inner Mongolia

Standard Chartered PLC (STAN.LN) said it opened its first village bank Wednesday in north China's Inner Mongolia Autonomous Region.

Standard Chartered said in a statement Wednesday it chose to open its first village bank in Inner Mongolia due to the region's significant number of farmers and businesses engaged in agriculture and farming. The bank, Inner Mongolia Helingeer Standard Chartered Village Bank Ltd., will offer financial services directly to farmers in the region, said Jaspal Bindra, Asia chief executive of Standard Chartered Bank and chairman of Standard Chartered Bank (China) Ltd.

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Over 60,000 Livestock Die In Hard Winter In Mongolia

More than 60,000 livestock have died from hunger and cold in Mongolia's western provinces this winter, local media said Monday.

More than 60,000 livestock have died from hunger and cold in Mongolia's western provinces this winter, local media said Monday. The Mongolian government has begun to help provide herders in the disaster-hit areas with cheaper fodder grass. Stock raising, one of Mongolia's key industries, has developed smoothly in recent years but has been suffering from poor weather conditions in the country.

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Mongolia Expects Economic Success With Mineral Exploitation

In southern Mongolia, a large mine in Oyutolgoi is believed to have copper reserves worth about170 billion U.S. dollars and a coal mine in Tavantolgoi has reserves of more than 6.4 billion tons. Both are awaiting exploitation.

In southern Mongolia, a large mine in Oyutolgoi is believed to have copper reserves worth about170 billion U.S. dollars and a coal mine in Tavantolgoi has reserves of more than 6.4 billion tons. Both are awaiting exploitation. after taking office in Sept. 2008, Prime Minister Sanj Bayar expressed his desire to speed up the exploitation of mineral resources to boost the economy and lead Mongolia into becoming one of Asia's developed countries. Officials said the government will map out and submit schemes regarding the exploitation of Oyutolgoi and Tavantolgoi by the end of February 2009 before the amendment of the mineral law so as to tap the resources as soon as possible. Analysts said Mongolia's mineral strategy depends on the country choosing proper foreign investors. Its future looks bright once reasonable and stable mineral exploitation schemes and investment policies are established.

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