Entree Gold Receives Mongolian Mining Licences

Entree Gold Inc. announces that its application for conversion of the Shivee Tolgoi and Javhlant exploration concessions to mining licences has been approved by the Mineral Resources Authority of Mongolia and the licences have been received. The eastern portion of the Shivee Tolgoi licence and the entire Javhlant licence are subject to a joint venture with Ivanhoe Mines Ltd., through its subsidiary,... 

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SouthGobi Energy Resources Receives Mining Licence For Tsaagan Tolgoi Coal Deposit

Alexander Molyneux, President of SouthGobi Energy Resources Ltd. announced that Mongolian authorities have issued a mining licence for the Tsaagan Tolgoi coal property that is held by the company’s Mongolian subsidiary, Southgobi sands LLC. The Tsaagan Tolgoi property is in the South Gobi Region, approximately 415 kilometres east of SouthGobi’s Ovoot Tolgoi coal mine. An independent NI... 

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SouthGobi Energy Resources and Glencore International AG Sign Marketing Agreement

Alexander Molyneux, President of SouthGobi Energy Resources Ltd., and Gene Wusaty, Chief Operating Officer, announced today that an agreement has been signed with Glencore International AG to provide SouthGobi with coking coal marketing expertise and river barging/vessel loading logistical services for SouthGobi’s Mamahak coal project in East Kalimantan, Indonesia. “We have developed Mamahak... 

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SouthGobi Energy Resources Sells Its Metals Division to Ivanhoe Mines

Peter Meredith, Chief Executive Officer of SouthGobi Energy Resources Ltd., announced today that the company has sold, subject to regulatory approval, its Metals Division to Ivanhoe Mines Ltd. for US$3 million. The Metals Division consists of certain base and precious metals properties in Mongolia and Indonesia. The transaction will enable SouthGobi Energy Resources to focus solely on its principal... 

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Ivanhoe Mines Makes Another High-Grade Discovery of Gold and Copper at the Oyu Tolgoi Project in Mongolia

John Macken, President and CEO of Ivanhoe Mines Ltd., and Doug Kirwin, Executive Vice-President, Exploration, today announced additional details of the exploration drilling at the company’s Oyu Tolgoi Project in Mongolia that has discovered a new zone of high-grade gold and copper mineralization, which has characteristics of the earlier high-grade discoveries at the Hugo Dummett and Southwest... 

Entree Gold Discovers Coal in Mongolia

Entree Gold Inc. announces a new coal discovery on its 100% owned Togoot license, which forms the western portion of its Lookout Hill Property in Mongolia. Exploration in 2008 is focused on a number of geological targets on the Togoot license including the new coal discovery, Nomkhon Bohr. Entree is evaluating a coal target known as Nomkhon Bohr, located in the northwest corner of the license, approximately... 

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Rio’s Second-Half Profit May Rise on Copper, Iron Ore

Rio Tinto Group, the world’s third- largest mining company by sales, may say second-half profit rose 19 percent to a record as commodity prices soared last year and iron-ore production grew. Net income advanced to $3.72 billion in the six months ended Dec. 31, from $3.03 billion a year earlier, according to the median estimate of six analysts surveyed by Bloomberg News. The estimate was calculated... 

Mongolia Plans to Take Stakes in Mines With New Mineral Law

Mongolia, which is seeking overseas investment to extract gold, copper and coal deposits, passed a law giving the government the right to take stakes of as much as 34 percent in projects developed by private companies. Mongolia also can claim as much as half of mines developed around deposits initially discovered with government funds and which would contribute at least 5 percent to the annual gross... 

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