Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Could come any time confirming LP granted. That would be just the start.
Thankfully MATD has enough money in the kitty till july next year. With H1,2,3 etc no need financing.
LP grant could make MATD a great takeover target.
Rerate on the way guys.
Latest on mining ministry post. MB s photo is on the post .
MINING WEEK: INVITING INVESTMENT IN THE #OIL SECTOR OF #LAND
"Mining Week" continued on the third day with the theme "Investment and supply of the oil sector". Minister of Mining and Heavy Industry, J. Ganbaatar, will attract investment in the separated oil fields. The previous day, it was announced from the platform of the assembly that they are inviting investment.
Our country has identified a total of 34 oil fields, and these fields are open to investors, the minister said.
Within the framework of the revival of industrialization, major goals have been set to intensify oil exploration, increase production, and start production of refinery products.
At today's meeting /October 11, 2023/, the areas with oil evidence and potential reserves were presented. Our country's proven geological oil reserves are 333.8 million tons, of which 43.4 million tons are guaranteed operational reserves. The annual import of petroleum products is estimated at 1.9 million tons.
The "New Revival Policy" envisages the construction of domestic processing plants and crude oil pipelines in order to reduce dependence on imports of petroleum products, meet domestic needs, eliminate price fluctuations caused by supply, and reduce import costs.
In the future, certain works are being carried out in the direction of increasing the source of import of petroleum products.
For example, oil product transshipment facilities based on Gashuunsuhait, Zamyn-Uud, and Shiveehuren ports will be planned and built with public and private investments. The participants mentioned the importance of railway transportation and the capacity of domestic railways to improve the supply of petroleum products.
The most anticipated project of the public is the Oil Refinery. The processing plant being built in Altanshiree sum area of Dornogovi province is being implemented in four stages. In order to increase the resources of raw materials needed for the industry, the Mongolian government is following the policy of active exploration in the oil sector and openness to investors.
They need to have a policy of active exploitation/LP etc etc!
With such a strong statement concerning the importance to Mongolia of the value of investment in the mining sector and the identification of 34 oil fields that are open to investors, it seems counterproductive to believe that the situation with the LP will continue for much longer.
To continue to allow the continued delay in granting the LP is surely not a great incentive to new inward investors who will invest only if they believe that there are not likely to be unneccessary hurdles to be crossed and that the MG will actively support development.
On evidence so far I wouldn't believe a word any Mongolian official uttered.
Right back at u, hobo !!
BadP - And there we were, hoping you would stick to your post of yesterday asking to be woken up in April next year to save us from your informative one liners!!
Corruption is at the route of this delay. Until this is addressed the project will not move forward.
And yet despite all the importance of the refinery we are still being held to ransom ( or that's what it appears anyways) and still another 3+ years before a drop of oil will be produced at said refinery, anyway the refinery is of no consequence to PM 🤔 GLA
Extremely useful post Jimi - thx for noticing it yourself.
To be honest I think these locals are stupid. They think PM are stealing their resources. They don't realise that some of it goes to the government. They want more percentage and its not up to them to decide. The MG has the right to change PSC.
This situation is nothing to do with environment.
MB looks SO frustrated it wouldn't surprise me if he did something desperate. Must have the patience of saint!
No foreign investors put money in Mongolia definitely not oil companies with MATD has been waiting for 5 years and still waiting for LP etc etc to get J1 into production.
This is a lose lose situation for now. LP has to be granted now, one way or another.
What is difference that now we have SL with the time we didn't have one? We are still at the mercy of not locals but the provincial guys! But the facts is we are in a limbo. Too many rules and regulations!
No one has taken up any blocks besides PM. Should give them an indication as to why no one new is interested
Hamm, nothing to do with rules and regulations. It is corruption!
Funny, one could say the same about you, the way you post on here