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NEW YORK, May 21 (Reuters) - Ivanhoe Mines (IVN.TO) said on Friday it has signed a preliminary agreement with two international financial institutions that are evaluating a major financing package for the construction of the Oyu Tolgoi copper-gold mine in southern Mongolia. ... The EBRD and the IFC will consider providing up to $300 million each in project financing, while mobilizing a further $1.2 billion from commercial lenders, Ivanhoe said in a statement. ... http://uk.reuters.com/article/idUKN2116716120100521
Khan Resources Acknowledges CNNC's Decision to Allow Its Offer to Expire
TORONTO, ONTARIO--(Marketwire - May 21, 2010) - Khan Resources Inc. (TSX:KRI) ("Khan") announced that it was informed today by CNNC Overseas Uranium Holding Ltd. ("CNNC"), a wholly-owned private subsidiary of China National Nuclear Corporation, China's state-owned leading uranium development and nuclear fuel company, that it has failed to obtain regulatory approval for its offer to acquire all of the common shares of Khan at C$0.96 in cash per share (the "Offer") and, accordingly, will allow its Offer to expire at the scheduled expiry time of 5:00 p.m. (Toronto time) on May 25, 2010. ... http://www.marketwire.com/press-release/Khan-Resources-Acknowledges-CNNCs-Decision-to-Allow-Its-Offer-to-Expire-TSX-KRI-1264679.htm
Manas Petroleum Announces First Quarter Financial and Operational Results
BAAR, SWITZERLAND--(Marketwire - May 21, 2010) - Manas Petroleum Corp. ("Manas") (OTCBB: MNAP) is pleased to report that it has filed on EDGAR and on SEDAR its first quarter report on Form 10-Q. The complete document can be viewed at either www.sedar.com or www.sec.gov.
Highlights: ... - In Mongolia, Manas has planned an upcoming gravity survey to prepare a 300 KM seismic campaign on blocks 13 and 14. ... As an operator, Manas has geological and geophysical commitments for the next 12 months in Mongolia amounting to $1,650,000. Manas is expecting to spend in total $2,500,000 for capital expenditures and Geological & Geophysical work. ... Data from a total of 451 existing wells drilled in the Zuunbayan and Tsagaan Els oil field areas and in the company's prospects has been collected. All well data was translated from Russian and Mongolian into English for analysis by international experts. ... http://www.marketwire.com/press-release/Manas-Petroleum-Announces-First-Quarter-Financial-and-Operational-Results-1264502.htm
Garrison Announces Approval of Social Impact Study of Tovshiir Gold Project
TORONTO, ONTARIO--(Marketwire - May 20, 2010) - Garrison International Ltd. (TSX VENTURE:GAU) ("Garrison") is pleased to announce that the Mongolian Government has formally approved the Social Impact Study of the Tovshiir Gold Project prepared and submitted by Garrison. ... The detailed study was conducted by Usny Erchim LLC on Garrison's behalf and reported the Tovshiir Gold Project's economical viability, planned ore extraction and processing methods, as well as social and environmental impacts on the surrounding area. With the Social Impact Study having been approved, Garrison may now commence mining operations within the area covered by the Tovshiir mining leases.
Construction of a processing plant on this project will also commence shortly, with all pre-fabrication having been completed and all of the concrete footings and steel beams required for construction already on site. A 500 ton per day capacity ball mill is being shipped from China, and the customs clearance process for that shipment is already underway.
May 21 (People's Daily) China is planning to alter the taxation structure on the profits that companies make from energy products on a trial basis in Xinjiang, participants at the Xinjiang work conference said on Thursday.
The conference has suggested that the prices of resource products should be taken into consideration when levying the taxes, rather than the existing system that takes into account the actual output.
There were no indications as to what the tax rate would be. Analysts are, however, of the view that it may be 3-5 percent for resource products like oil. ... The government may include one or two more inland areas rich in resources, such as Shanxi province and the Inner Mongolia autonomous region in the pilot plans at a later stage, he said. ... http://english.people.com.cn/90001/90778/90860/6993254.html
Culture, Sports, Religion, ...
PONTIFF PRAISES LIBERTY IN MONGOLIA
VATICAN CITY, MAY 20, 2010 (Zenit.org).- Benedict XVI is assuring his appreciation for efforts to protect religious liberty in Mongolia, since he says authentic development must take into account man's spiritual nature.