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Mr Roy
climber
Seattle
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Apr 14, 2013 - 11:35am PT
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Dividing up Mongolia's mining riches from Oyu Tolgoi
Mongolia has for centuries been characterised as a nation of nomads and cattle herders, but this is all changing thanks to a huge new copper and gold mine.
The mine is Oyu Tolgoi, which is Mongolian for Turquoise Hill, and it is already beginning to transform the economy of this sparsely-populated central Asian nation, sending it towards the top of international growth tables.
But this year, there has been disagreement over the details of the contract between Rio Tinto and the Mongolian government. Ulaan Baatar wants Rio Tinto to explain why it has over-spent on the project by more than $2bn (£1.3bn).
The Anglo-American mining giant Rio Tinto has spent $6.2bn so far on developing the site, which lies in the Gobi more than 300 miles south of Mongolia's capital Ulaan Baatar.
But Mongolia is concerned it will not receive royalties any time soon because development costs have increased. Under the terms of its deal, Ulaan Baatar won't get a share of the profits until Rio has recovered its investment.
Referring to the current dispute with Rio, President Tsakhiagiin Elbegdorj says that firms mining in Mongolia have a great impact on the country.
"We would like to see that footprint bring development to Mongolian society - not scar it."
"The world has changed, change has to come to mining business. Our people are more informed, more educated and because of that are asking more questions."
Rio Tinto's Colin McRae insists his firm wants to deal fairly with Mongolia's government, but that politicians should let the miners get on with their business.
Politicians should let miners get on with their business, says Cameron McRae
Yet it is not just Western mining firms that come in for criticism. Much of the mine's output will be taken by road over the border to China, leading some to fear that it will be Mongolia's huge southern neighbour that will ultimately benefit from the mine.
http://www.bbc.co.uk/news/business-21850604
Yep..
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Jan
Mountain climber
Okinawa, Japan
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Apr 15, 2013 - 01:10am PT
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Congratulations on the new jobs in an interesting place!
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Guangzhou
Trad climber
Asia, Indonesia, East Java
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Topic Author's Reply - Apr 15, 2013 - 06:24am PT
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To the person who asked above, dogs will be joining us. We get a shipping and relocation allowance.
I'll make sure to write up some trip reports when I get there.
We're both excited, but I need to get rid of my tevas and by some 20 below sorels. (Any advice on cold weather shoes welcomed)
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tradmanclimbs
Ice climber
Pomfert VT
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Apr 15, 2013 - 06:50am PT
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Does America or mongolia really need more dogs? does California really need annother pit bull?
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Guangzhou
Trad climber
Asia, Indonesia, East Java
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Topic Author's Reply - Apr 15, 2013 - 11:46pm PT
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Pit-Bull??
More dogs, if they are well taken care of and not less on the streets, no issue.
Emmanuel
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MisterE
Social climber
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Apr 16, 2013 - 12:04am PT
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OK, after much consideration I decided to help you bring your drugs to America. How does this work? I gotta swallow a few baggies with olive oil?
I usually don't do this...
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Mr Roy
climber
Seattle
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Apr 17, 2013 - 03:55am PT
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“Mining is capital and equipment intensive but it can’t create all the jobs needed,” Jim Dwyer, executive director of the Business Council of Mongolia, said by telephone today. “Jobs are vital here. A lot of jobs need to be opened up for people.” The council is Mongolia’s biggest business group, with members including Rio Tinto Group, General Electric Co. and Peabody Energy Corp. (BTU)
The domination of the mining industry is highlighted by Rio Tinto’s $6.6 billion Oyu Tolgoi copper and gold mine, which is expected to account for one third of gross domestic product by 2020, according to estimates by the unit that oversees the project’s operations. Mining already accounts for 90 percent of Mongolia’s exports.
Shipments of coal, Mongolia’s biggest export, totaled $1.9 billion in 2012, compared with $27.9 million of textile, according to the statistics office. Raw cashmere exports were $145.4 million, most of which went to China.
Creating Jobs
Mongolia’s government estimates the cashmere and clothing initiative will help create 80 factories that could employ as many as 30,000 workers. The loans for the dairy industry will be used to set up 15 milk farms, four large processing plants and 86 smaller facilities, according to the statement.
The Oyu Tolgoi mine employed 11,151 Mongolians as of Jan. 31, according to its website.
“All these non-mining efforts are fairly embryonic, cashmere being in the lead,” said Dwyer. “It’s important to keep the seed planted and nourish these other logical and diversified business segments. It might be a small step, but in the right direction.”
Guangzhou...... Oh my poor doggies
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justthemaid
climber
Jim Henson's Basement
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Apr 17, 2013 - 09:21am PT
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@ the OP. Well, I'm happy to hear you got a job offer. So what happens with the dogs now? Easier/cheaper to get them into Mongolia??
@Couchmaster..
Er.. Your daughter does know about the 6 month quarantine on all animals entering Hawaii doesn't she? Her pooch will be locked up in a facility on Oahu for half a year. If she's not moving to that particular island, she will have to pay someone to look in on her dog, walk it, bathe it etc... (all they do is feed and clean the cage)so she's looking at way more than $500 when you add in travel and care costs.. not to mention the 6 months of confinement for the poor animal who's probably not going to enjoy it one bit. Kinda selfish not to just find the dog a new home IMHO.
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couchmaster
climber
pdx
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Apr 18, 2013 - 09:15am PT
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Oh yes Maid, that's why she needs all of you folks to pay for it. Actually, I just put her on the plane. She's off to Hawaii.
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Guangzhou
Trad climber
Asia, Indonesia, East Java
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Topic Author's Reply - Apr 27, 2013 - 12:36am PT
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@Roy I agree, the world is full of problems and mine pale in comparison. Thanks for pointing some out, from the comfort of your home.
What are you personally doing to make the situation better besides commenting about it? Unlike some countries with much worse problems, Mongolia is a little bit lucky to have some resources they can use to stimulate their economy. Actually, it's a great place to invest these days, or so I'm told.
Yes, my dogs are going to Mongolia. Yes, my dogs are a luxury. So is climbing. I certainly agree this is a first world problem, of course, I come from a first world country.
Moving them to Mongolia is a bit cheaper, but it's also helpful that I get a moving/relocation allowance to help with moving expenses. Mongolia wasn't the top of my list when I started the job search.
On the bigger economic picture, I have no advice and even fewer solutions to the problems people face. I've lived in several countries now, and visited quite a few more that have problems. I'm not aware of all issues, but I'm not blind to many of them. How many of us enjoy a fresh glass of drinking water from our tap without ever thinking about those who have almost no access water. How many of us spend more on lunch than most people live on for a month?
Like most people, I've done very little in the big picture to help out. Raised funds and helped built a electric windmill for local Indonesian village two years ago. (same village I bolted routes in) A year later, we donated some old computers to their schools. Built two houses with Habitat for Humanities, spent six months in the middle of Haiti as a volunteer mentor teacher. Most of my contributions are selfish, I do know this. My skills and time are limited, my finances even more so. I do a little here and there, but I also do what I can to live a happy life.
I've met people who have dedicated their life to helping others. Most of them do more in a year than I do in a life time. I recently met a doctor couple who have been living on donation in Papua for almost a decade now. they do more in a week than I will do in a lifetime.
Yes, I know, everyone should do more. Of course, when people start with I wish I could.... I always ask what's stopping them. Anwsers always seems like a excuse to me.
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