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Coal, copper, and gold are the principal reserves mined in Mongolia. Several gold mines are located about 110 kilometres (68 mi) north of Ulaanbaatar, such as Boroo Gold Mine and Gatsuurt Gold Mine. Khotgor Coal Mine is an open-pit coal mining site about 120 kilometres (75 mi) west of Ulaangom.
1995 - MAK founded Bumbat LLC, a Mongolian-Canadian joint venture, and became the fourth-largest gold producer in Mongolia 2000 - MAK diversified its business by starting thermal coal production 2002 - Qinghua-MAK Naryn Sukhait LLC , the first Mongolian-Chinese joint venture in the mining sector, was established
In 2001, Canadian-based Ivanhoe Mines estimated the resource gold-copper ore deposit in the Gobi Desert of Mongolia, which Soviets had discovered officially before 1990. It is in an area known as Oyu Tolgoi (Mongolian for Turquoise Hill), [3] where in the time of Genghis Khan outcropping rocks were smelted for copper. [4]
A Mongolian ninja miner, panning for gold. Ninja miner is a nickname for a person who digs small unauthorized mines or pans dirt for gold in Mongolia. [1] The miners are so named because the green bowls they use for panning, when carried on their backs, are said to resemble the shells of the Teenage Mutant Ninja Turtles.
This list of mines in Mongolia is subsidiary to the list of mines article and lists working, defunct and future mines in the country and is organised by the primary mineral output. For practical purposes stone, marble and other quarries may be included in this list.
Alexander von Humboldt calculated that the gold production of the whole of Russia accelerated between 1823 and 1838, thanks to the mines of the Altai, with an average of 15.2 tons of gold per year. [6] In 1836, 293 golden poods (one pood is equal to about 16 kilograms) came from the Urals and 104 poods from the Altai.
Boroo was owned by the Canadian mining company, Centerra Gold Inc. It began commercial production in March 2004 and produced more than 1.5 million ounces (46 tons) of gold through the end of 2010. The Boroo mine was the first hard-rock gold mine established in Mongolia and the largest foreign investment in the country at the time it began ...
Turquoise Hill Resources also owns 14% of Entree Gold, [11] a company with interests in copper and gold projects in southern Mongolia and Arizona, and 14% of Exco Resources which operates Cloncurry's copper project and the White Dam gold mine in Australia. [12] The company's largest shareholder is Rio Tinto, with a stake of 50.8%. [13]