Rio Tinto Group, the owner of 66% of the Oyu Tolgoi project in Mongolia, plans to layoff around 2000 workers due to temporary closure of an underground section of mine. The layoffs are a mixture of contractors and regular employees.

Mongolia-focused coal miner Prophecy Coal has inked two binding sale-and-export contracts for 30 000 t of coal its Ulaan Ovoo mine to a buyer in Russia.The Vancouver-based company said on Monday that the buyer was a substantial coal trader with

A Mongolia-Czech business meeting will be held in Prague in the Czech Republic on August 26th and 27th to connect businessmen and entrepreneurs and encourage bilateral cooperation. The business meeting is a part of the fifth regular meeting of the

Yesterday’s accident where a freight train collided with a kamaz vehicle belonging to Esto LLC on the railroad crossing near Sky Resort ski centre caused damage to 200 meters of the rail road. Four people were injured and taken to

Former president, Nambar Enkhbayar, the head of the Mongolian People`s Revolutionary Party (MPRP) left for South Korea for treatment on Tuesday August 13th. The former president, who has been in custody on charges of corruption, asked permission to go abroad

A serious accident occurred around 7:00 am near the Sky Resort ski centre today, August 13th. The Zamiin Uud-Ulaanbaatar train collided with a Kamaz vehicle on the rail road crossing. Two engineers, a courier and the Kamaz vehicle driver were

A new airport has been planned to be located in Khusigt valley as a result of the long expectation extension of Chinggis Khaan International Airport in Ulaanbaatar City. The Minister of Road and Transportation, A.Gansukh, announced that the construction is

Coal miner SouthGobi Resources Ltd reported a second-quarter loss and withdrew its full-year forecast for semi-soft coking coal, citing weak demand in China.SouthGobi shares fell as much as 5 percent to C$1.14 on the Toronto Stock Exchange on Monday.The withdrawal

Mongolia wants the planned $5.1 billion expansion at Rio Tinto Group’s Oyu Tolgoi mine to be financed from cash flow until a dispute over the cost of the biggest foreign investment in the nation is resolved. Cost overruns at the

The Ministry of Labor and Social Welfare announced previously the nationwide re-set of the minimum labor wage. It was decided in April that the national minimum wage would be set to 190,000 MNT with an increase of 36.7 percent by