Khan Resources Strikes Peace, Signs MOU With Monatom PDF Print E-mail
News - Mining
Sunday, 31 January 2010 19:49

BCM LogoShares in Khan Resources surged 14.7% in Toronto on Monday following the announcement that the company has signed a non-binding memorandum of understanding (MoU) with MonAtom, Mongolia's State-owned uranium development company, on setting up a joint venture company to own and develop Khan's uranium project in the country.

Khan's main asset is a 58% interest in Central Asian Uranium Company (CAUC), which holds a mining license on the Dornod uranium project in Mongolia. Khan also owns 100% of an adjacent license. Both MonAtom and a subsidiary of Russia's Atomredmetzoloto (ARMZ), which has launched a hostile bid for Khan, own 21% each of CAUC. The Dornod project has faced uncertainty after Mongolia passed a new nuclear energy law, and with Khan fending off ARMZ's takeover campaign.
Khan said it believes the deal with MonAtom will enable it to fulfill the requirements of the new law in Mongolia and provide certainty for the project, while still retaining value for its own shareholders. The new nuclear energy legislation gives the Government the right to take ownership, without payment, of at least 51% of a project if uranium resources were determined through exploration with State funding.
Under the terms of the MoU, MonAtom would buy a 51% interest in both CAUC and Khan Mongolia, in accordance with the new nuclear energy law, but MonAtom would then transfer to Khan part of its interest in the joint venture in exchange for shares representing 17% of Khan, and a warrant to buy another 2.9%. At the end of the day, Khan would own 65% of the new JV company, which in turn will own 74% of CAUC and 100% of Khan Mongolia.

"With this MoU, we think we have achieved the right balance,” said Khan CEO Martin Quick. “It gives us a stable ownership and regulatory platform upon which we can obtain the necessary financing to complete the project.” The parties aim to have a definitive JV agreement signed by the end of March.
“Khan's board of directors believes that the transactions contemplated by the MoU will, when completed, deliver far greater value to Khan's shareholders than the price per share offered by ARMZ in its hostile bid,” the firm said.

Khan said that under the agreement with MonAtom, applications to reregister the existing CAUC mining license and Khan Mongolia exploration license would be approved and new licenses issued within seven days of signing the MoU. The company's exploration license would also be converted into a mining license within 45 days of signing the MoU and Khan Mongolia will be appointed as the operator of the Dornod project.

The company said the JV partners will aim to negotiate and finalize an investment agreement with the Government of Mongolia within six months after signing a definitive JV agreement. The investment agreement will likely be modeled on the deal secured last year by Rio Tinto and Ivanhoe Mines for their Oyu Tolgoi copper/gold project.

Article Source

This article was originally published by and was obtained from the highlights of BCM Newswire issue 103.  BCM Newswire is sent once a week and highlights leading articles relating to business, investments, & mines in Mongolia.  BCM Newswire is sent to members of Business Council of Mongolia (BCM) and is made available to public after a month at

Last Updated on Tuesday, 02 February 2010 12:38
In Mongolia concerns grow over extremely severe winter weather conditions and expected humanitarian impact PDF Print E-mail
News - Environment News
Monday, 25 January 2010 23:11
25 January 2010 – Mongolia is currently threatened by a “Dzud”, which is a multiple natural disaster consisting of a summer drought producing small stockpiling of fodder, followed by very heavy winter snow and lower than normal temperatures.

Heavy and continuous snowfall and blizzards have resulted in a sharp fall in daily temperatures - dropping to below -40°Celsius in 19 out of a total of 21 ‘aimags’ (provinces) in Mongolia.

According to the National Emergency Management Agency (NEMA), the extreme cold and heavy snow have already caused the death of more than one million livestock, worsening food security and predicted subsequently to result in a deepening of poverty and increased internal rural-urban migration for many families.  According to the World Bank, livestock herding today, accounts for around 35% of employment in Mongolia.

In addition to a concern for the situation of isolated herding families, the agencies making up the United Nations Team are assessing the situation of the poor, particularly those living in the 94 soums (villages) considered to be most affected and inaccessible. “The poor did not have the resources to stockpile food or fuel for heating and the supplies in the now inaccessible village as a whole are stretched”, said Rana Flowers, the Resident Coordinator a.i. in Mongolia. “The UN agencies have mobilized to assess the situation and coordinate our efforts to reach the most affected populations.  In addition to the impact this is having on livelihoods now and into the future, we are worried about the immediate plight of the isolated population. Among health concerns are pregnant women cut off from facilities and trained care (three women have reportedly already died in childbirth); increases in ARI and pneumonia in the light of the H1N1 in the country among children and pregnant women; and malnutrition levels with lowering levels of access to food and nutrition in affected areas”, she added.

In addition, children who have been ordered to remain in dormitories due to the danger they would face trying to travel to their families in such conditions, are living with limited and extremely poor heat and limited food supplies in many schools. There are approximately 22,200 children in 265 dormitories in need of assistance.

In the last dzud of 2001, not considered to be as severe as the current 2010 experience, an increase in malnutrition and acute infections of children and pregnant mothers were documented. The plight of populations in the post-dzud period which lasts from late February to early spring is also a period of concern with food supplies having been exhausted and the animal supply severely depleted, and the risk of disease heightened. The trauma of losing livelihoods results in families and children at high risk of developing extreme fatigue and psychological stress.

The Government has appealed to the donor community for food, flour, rice, medicines and equipment, candles, heating supplies, warm clothing, as well as for funding to buy and deliver fodder for livestock. The United Nations in Mongolia was formally requested to coordinate all donor contributions.
The United Nations agencies and specialized agencies actively contributing to the relief efforts in Mongolia include FAO, UNDP, UNFPA, UNICEF, WHO and UN-HABITAT.

For more information please contact:
Rana Flowers, Resident Coordinator a.i and UNICEF Representative, phone: +976 11 326221
Wiwat Rojanapithayakorn, WHO Representative, phone:  +976 11 327870
Argentina Matavel, UNFPA Representative, phone: +976 11 323665
Shoko Noda, UNDP Resident Representative, phone: +976 11 327585
N. Oyundelger, FAO Assistant Representative, phone: +976 11 352512
Last Updated on Monday, 25 January 2010 23:11
Puccini's "Tosca" Opera in Ulaanbaatar January 30 PDF Print E-mail
News - Culture, Arts & History
Monday, 25 January 2010 20:20

This Saturday, 30 January at 5.00 PM there will be a splendid performance of "Tosca" the wonderfull opera by Giacomo Puccini which had it first premiers this month a 109 years ago, on 14 January 1900.

The State Academic Theatre has a many years of practice with Tosca and assembled a great cast of opera singers for this performance. Tickets are available at the the box office of the State Academic Theatre for Opera and Ballet (the pink Roman style building) at Sukhbaatar Square.

Telephone: 70110389, 11 320268, 96683639. Website of the theatre:

In February 1798 French troops had occupied Rome and other parts of the Papal States and proclaimed a new Roman Republic. The opera's Cesare Angelotti (based on the historic Liborio Angelucci[4]) was one of the republican leaders and consul of Rome. The Pope had to flee to Tuscany: Ferdinando IV of Bourbon, King of Naples, tried to rescue him but was himself defeated. In January 1799 the Parthenopean Republic or Neapolitan Republic was proclaimed. In April 1799, while Napoleon was in Egypt, an Austrian-Russian army under General Suvorov crossed into northern Italy and defeated the French. In June Cardinal Ruffo occupied Naples in the name of King Ferdinand, and in September the Bourbon troops entered Rome. The reactionary party was inspired by Maria Carolina of Austria, the wife of Ferdinando IV and sister of Marie Antoinette. After the death of Pope Pius VI in August 1799 she assumed the regency and started a "cleansing" action against republicans, liberals or simply people who had compromised themselves under French rule. There were thousands of victims, including many artists, scientists and intellectuals.

The following spring, Napoleon crossed the Alps with an army and met the Austrians (commanded by general Mélas) at Marengo. The Austrians outnumbered the enemy and, after fierce fighting, took control of the locality in the morning of 14 June 1800. The battle seemed over when Marshal Desaix, at the cost of his life, managed to reverse the situation. By evening the victory had been won by the French army.

Last Updated on Monday, 25 January 2010 20:20
Biobeer: The snow leopard & the Pallas's fish eagle PDF Print E-mail
News - Environment News
Monday, 25 January 2010 15:00
1. S. Purevsuren, Senior biologist, Snow Leopard Conservation Fund Mongolia will give a talk entitled: The snow leopard research conservation center talk will be about Tserendeleg snow leopard research conservation center located in the Mongolian south Gobi. It is the first ever long term study of snow leopards, which consists of an international team of scientists and students, aiming to improve their conservation. They used many research methods such as sign survey, remote cameras, satellite-GPS collars to identify the home ranges etc. In addition, you will hear about their snow leopard enterprise program and so on.

2. Batmunkh Davaasuren from NUM, will give a talk entitled: The status of the Pallas's fish eagle in Mongolia The Pallas's fish eagle is distributed throughout central and southern Asia. This species is classified as Vulnerable by IUCN. The survey objectives were to determine the distribution and status of PFEs in Mongolia, identify the threats to the Mongolian population, assess local recognition of the species and describe preferred habitat in Mongolia. This study has shown many results such as observation of PFEs in 9 out of 13 historic sites visited, a preference for freshwater sites with good fish stocks etc. In addition, they identified many threats to this species.

on *Thursday, February 4, 2010.* at 6:30 pm

Biobeers is held on the first Thursday of every month at Sweet Cafe (located behind the Information and Technological National Park and next to the Admon Printing Company, west of Internom Bookstore Building). People are requested to arrive after 6pm, in time for the talk to start at 6.30.

Biobeers is a monthly gathering of government and NGO staff, biologists, researchers, and other professionals interested in conservation. Each month, Biobeers sponsors a half-hour presentation on a topic relevant to Mongolian conservation, followed by an informal gathering to discuss activities and issues of interest. Biobeers is an opportunity to find out what is happening in the field of conservation in Mongolia, talk informally to other researchers and peers in your field, and share information about issues critical to the environment and people of Mongolia.

Last Updated on Monday, 25 January 2010 15:00
Kyoto Symposium: The Collapse and Restoration of the Mongolian Ecosystem Network in the Context of Global Environmental and Social Changes PDF Print E-mail
News - Nature and Environment
Wednesday, 13 January 2010 05:38
The Research Institute for Humanity and Nature (RIHN), Kyoto, Japan holds an International Symposium on "The Collapse and Restoration of the Mongolian Ecosystem Network in the Context of Global Environmental and Social Changes" on 23rd to 24th of January, 2010.
This symposium aims integration of information related to the environmental issues and deepening the understanding ecological system in Mongolia. About 20 presentations are scheduled by both natural science and humanities’ studies. Those researches are managed by one of the RIHN’s projects “Collapse and Restoration of Ecosystem Networks with Human Activity”. Leading scientists from Mongolia are invited to the conference as well.

Venue: RIHN, Kyoto, Japan
Date: 23rd-24th, January 2010. (25th excursion)
Details & Website:

One of the abstracts

“Interference impact of global warming and globalization on the society in Mongolia”

BATJARGAL Zamba, World Meteorological Organization, UN

There still is a significant portion of uncertainties with regard to the global climate change despite that the last Fourth Assessment Report of the IPCC increased a worldwide common understanding about the present trend of global climate change and human activities as its main cause. Estimated future climate scenarios vary from model to model due to the limitation of global climate models (GCMs) and accordingly climate projections are different for given particular areas. Mongolia has developed the National Climate Change Programme referring to the results of projections based on well known GCMs. However, the scientific and professional communities engaged in this exercise are not able to guarantee full confidence in these projections due to the fact that the current GCMs had not captured all intrinsic components in driving factors and possible imperative non-linear feedback effects. The current level of warming at the territory of Mongolia based on instrumental records also needs to be shaped taking into account the locations of specifics of meteorological stations and gradually increasing localized “smog cap” effect in cold seasons in some key settlement areas. Studies on climate change undertaken so far mostly focused on the expected stresses of climate change on ecosystems, while interaction between natural and managed socio-economic systems were considered in simplified ways. In the IPCC Synthesis Report on Climate Change it was recognized that the “effects of climate change on human and some natural systems are difficult to detect due to adaptation and non-climatic drivers”. Mongolian society in recent years has been experiencing series of “shocks” induced by globalization related pressures. At the same time, Mongolia has a limited background to absorb these shocks as a nation due to its past political isolation with non market economic system and culturally “land locked” situation with limited access to a broader cultural domain in the world due to its imposed ideological barriers. Therefore, it is important for Mongolia to consider possible combined effects of global warming and globalization on the society in the process of developing its adaptation strategy anticipating both long term variability and non reversible change in climate conditions.
Last Updated on Wednesday, 13 January 2010 05:38
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Page 1 of 448
Home > Latest

Latest Comments

Activity Stream

2 days ago
christopher wayne sumpter Give the doctors wisdom and give them the tools they need to get Pastor Otgon Tsend's ammonia out.--from Elijah's bedtime prayer tonight 06:23 AM
6 days ago
1 week ago
nominchuluun enkhbold Whenever I'm not around, and you feelin down Let the thought of me be (I be the reason you smile) Jan 27
hedda halinen lugnande medel <3 Jan 26
u?ur saral دلال الخيلي الخيليهyı Jan 25
kim albanese I just reconnected with an old friend that is going through some severe trials in her life. Please lift her (and her husband) up in prayer with me, that God would see them through these dark valleys and magnify Himself through these tribulations. (Love to you, BBR) Jan 24
gulfairuz shauyet brrrrrrrrrrrrrrrrrrrr frozen:( Jan 23
lowdog47 uploaded a new avatar. Jan 21