Thursday, April 15, 2010

Mogi's April 13-14 Morning News (apologies for 13th)

Khan Resources says Mongolia cancels units' licenses

BANGALORE, April 13 (Reuters) - Khan Resources Inc (
KRI.TO) said Mongolia's Nuclear Energy Agency (NEA) invalidated the mining and exploration licenses of two of its units citing certain violations, sending its shares down 40 percent, their largest ever fall on a single day.

Khan Resources caught in a geopolitical mess

Peter Koven, Financial Post
Published: Tuesday, April 13, 2010

Canadian junior miner Khan Resources Inc. is caught in a geopolitical mess involving Russia, China and Mongolia. And even as the situation worsens, the company maintains that a planned Chinese takeover is still in the cards.

SouthGobi sees 2010 Mongolia coal exports to China at 12 mln T

BEIJING, April 13 (Reuters) - Exports of coal to China from its northern neighbour Mongolia are likely to hit 12 million tonnes this year, up from 8.5 million tonnes last year, said a senior executive with SouthGobi Energy Resources Ltd.

Mongolia Sets $1 Billion Bond Issue

HONG KONG, April 13 (WSJ) – Mongolia plans to raise up to $1 billion through a sovereign bond offering in the fourth quarter of this year, the country's prime minister said.

The government is also moving forward with plans to list publicly owned mining, energy and infrastructure assets, Prime Minister Sukhbaatar Batbold said at a forum organized by the Hong Kong Stock Exchange.

Leighton Asia secures $940m boost to contract

Leighton Holdings Ltd subsidiary Leighton Asia Ltd has secured a $940 million contract adjustment to expand capacity at a Mongolian coal mine.

Energy Resources LLC asked Leighton Asia to expand production at its Ukhaa Khudag (UHG) coal mine in southern Mongolia, with production rates to increase to 10 million tonnes by June 2011.

Entree Gold Provides Exploration Update for 2010


A field crew has been mobilized to commence the 2010 Lookout Hill exploration program on Entrée's 100%-owned western portion of the Shivee Tolgoi mining licence ("Shivee West"), adjacent to the Oyu Tolgoi mine development project. Previous deep penetrating geophysical work has been re-evaluated over the 2009-2010 winter period.

The Company is also working through the mining licence application process in order to convert all or a portion of its Togoot exploration licence to a mining licence. A decision regarding the conversion application is expected shortly.

Developing Asia's Recovery from Crisis Takes Firm Hold - ADB

HONG KONG, CHINA - Developing Asia's strong recovery from the effects of the global economic crisis is expected to continue through the next two years, the Asian Development Bank (ADB) says in a new major report.

ADB's annual flagship economic publication, Asian Development Outlook 2010 (ADO 2010), released today, forecasts robust growth of 7.5% in 2010, well up from 5.2% in 2009, supported by a modest recovery in global trade and the ongoing effects of fiscal and monetary stimulus. Growth should moderate slightly to 7.3% in 2011 as effects of those expansionary policies dissipate.

Chinese premier vows closer ties with Mongolia

China bags oil sands stake; not finished yet

More oil sands deals in Canada can be expected, bankers and analysts
say, as well as iron ore and gas deals from Mongolia to Indonesia.

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