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Published by the Institute of Energy Economics, Japan. dated: Aug 07, 2009 
In June, Toyota Prius jumped up for the first time to the most selling car among new car sales in Japan including regular and mini vehicles. In May, it was number one among regular-sized cars but was number three when K-cars *1 were included.  Toyota sold about 22,000 units of Prius in June, which was more than twice the 10,915 units sold in May. Honda also sold about 8,800 units of "Insight" in June substantially exceeding the initial target of 5,000 units a month. Sales of these hybrid cars have jumped to 14% of regular-sized passenger cars from 8.4% in May. New car sales seem to have bottomed out after hitting a 41 year low in April, recording a consecutive nine month decline on a year-on-year basis and -14.5% in June. For the purchase of Eco-cars, tax reduction system started in April and a purchase support system started in June.*2 Backed by intensive public campaigns on the ecological life style, hybrid cars are now most popular in Japan among people who are considering purchase of new cars. However, they have to cue more than nine months due to a high backlog. *1 - K-cars (Kei-jidosha) or light (mini) vehicles are those cars with an engine displacement lesser than 660 cc. they are popular in Japan as secondary cars for daily commuting or shopping. *2 - For those Eco-cars qualifying under the standards for emission quality and fuel efficiency, taxes at acquisition of a car will be reduced 50 to 70%, and 100% for hybrid car, and annual car tax 25 to 50%. In addition, the government provides a maximum 250,000 yen grant for purchase of an Eco-car. |
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Posted: Thursday , 04 Aug 2009 The working group set up by the Government and Ivanhoe Mines have been meeting every day since Monday to reach an agreement on investing in the Oyu Tolgoi project. Both sides have been tightlipped about how things are going and no immediate breakthrough is expected.
The Mongolian side includes three members of the Cabinet -- Finance Minister S.Bayartsogt, Mineral and Energy Minister D.Zorigt, and Environment and Tourism Minister L.Gansukh. About a dozen officials from the three ministries are helping them in the talks.
The investors’ side is led by Commerce Director Mr. Sam Riggall of Rio Tinto and Deputy Chairman Mr. Peter Meredith of Ivanhoe. Both are familiar with past negotiations on the agreement.
The Mongolian side has submitted its fresh list of 35 demands. The most contentious issue is the 68 percent windfall profits tax. The Mongolian Parliament has said this can in no circumstances be waived, while the investors have from the beginning refused to accept this, arguing that if this is levied the total tax burden would go up to an unacceptable 90 percent of the profits.
Another thorny issue is that of how much share the Government will have. Parliament has instructed the Government to try hard to raise this to 50 percent from the 34 percent that both sides previously agreed upon. This would have been difficult to achieve as the mining law in force does not support the Government claim to own more than 34 percent. To bypass this dichotomy the Mongolian side is now asking for 34 percent share in Ivanhoe Mines Mongolia Inc., and not in the project. Source from BCM Newswire Headlines.
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 Uranium developer Khan Resources has expressed worries on reports Mongolia is to place further regulation on uranium mining there.
Posted: Thursday , 23 Jul 2009
VANCOUVER, British Columbia (Reuters) - Canadian miner Khan Resources Inc (KRI) said on Wednesday it is concerned about a surprise move by Mongolia to regulate uranium mining and potentially boost the government's ownership stake in mining assets. Khan said it was still trying to confirm reports that Mongolian lawmakers approved the new mining measures last week and that, if signed into law, would take effect on Aug. 15. The small Toronto-based company said it supports Mongolia's attempts to develop its uranium mining regulations, but worries about how this measure was developed and about provisions that could let the government increase its ownership stake in uranium assets. Khan said in March it expects initial capital costs for its Dornod uranium project in northeastern Mongolia to be about $333 million and estimates the project to be completed in 36 months. Another Canadian miner, Ivanhoe Mines Ltd (IVN.), said last week it expected to have more talks with Mongolia on developing its flagship Oyu Tolgoi copper and gold deposit, a move that many investors worry could further delay the project. |
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 Vancouver, British Columbia, July 27, 2009: Red Hill Energy (TSX-V symbol RH) announces that it was informed today by Falcon Mining AG of Zug, Switzerland that it is unable to meet its financial obligations as outlined in Red Hill’s June 9, 2009 news release. Accordingly Red Hill Energy has terminated its agreement with Falcon Mining effective today. The transaction pertained to Red Hill’s 100% owned Ulaan Ovoo coal project located in northern, Mongolia. In addition to payments to Red Hill Energy, the agreement between the companies called for Falcon Mining to assume operational activities and incur 100% of all costs pertaining to pre-production, coal mine development and managing all coal production activities at Ulaan Ovoo.
With the best interest of Red Hill Energy shareholders, the Ulaan Ovoo coal project, and the people of Mongolia in mind, the Company has entered discussions with several international coal companies that have expressed interest in expediting production at Ulaan Ovoo. Red Hill Energy retains its 100% ownership of the Ulaan Ovoo, Chandgana Tal and Chandgana Khavtgai coal projects all located in Mongolia. Posted at www.redhillenergy.com: dated: on July 27, 2009. |
 Tue, 28 Jul 2009 17:00:13 Centerra Gold has announced that the Chairman of the Minerals Resources Authority of Mongolia has issued a decree reinstating the Boroo Mine’s main operating licenses. The decree annuls the suspension order received by the company on June 12, 2009.
The company hopes to resume full mining and milling operations at the Boroo mine in the next few days. It is continuing its discussions with Mongolian regulatory authorities regarding the circumstances of the suspension. Source from: http://en.news.mn/news/3157 |
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