My source in Mongolia just sent me this article translated into English from mnb.mn.
Yesterday on June 14, “Open Door” of the Ministry of Mining and Heavy Industry held at the Sukhbaatar Place. During the event, Minister of Mining and Heavy Industry Ts.Dashdorj said “Tavan Tolgoi deposit should be put to economic use. In order to get it in use, the issue must be decided as one package. What is included in the package is, a whole infrastructure to support and promote the mining is included in it. Firstly, transportation or railway matter is taking up significant portion of the project. Energy issue must be also resolved. Energy source based on thermal coal must be constructed. Secondly, Gobi area ecological issue should be taken into consideration. To resolve this, Kherlen Gobi project must be implemented.”
He continued “On top of that, copper smelting plant will be built around the Tavan Tolgoi. We got the relevant approvals from government. These issues will be included in the TT project as package. Until negotiation, these are being considered. We have talked about [TT project] for several years, maybe around 17-18 years, and relevant decision of Parliament, Government and authorities are already out. Now in order to get the economy out of its current state and reduce the country’s debt, these mega projects must be implemented. Therefore, a cabinet working group is established [on TT project], coordinated the matters as I have mentioned before, and all aspects of the regulatory issues are resolved. Relevant decisions are made. Now we are in the negotiation stage, it is certain the project will move within 2017.”
Any chance the Chinese balk at the last second? They've been left at the altar once before (in 2015) and been compelled to show their cold shoulder by a major diplomatic faux pas (in late 2016). What's the next thing that could go wrong?
And, lastly, why is it that MPP members in Parliament (who trade in and out of this stock opportunistically) haven't been moving the share price higher?
