Rio Tinto Starting to Do Nothing

Bloomberg just cited Rio Tinto, the investors in the Oyu Tolgoi project, with this statement: “A number of substantive issues have recently been raised by the government of Mongolia, including the implementation of the investment and shareholder agreements and project finance,” London-based Rio said today in a statement. “Subject to the resolution of these issues,Continue reading “Rio Tinto Starting to Do Nothing”

Rio Tinto Considering Doing Nothing on Oyu Tolgoi

As explained before, Rio Tinto has some very simple leverage against the unreasonable requests of the Mongolian government to get a larger share of the profit. They can just do nothing. That in turn will lead to zero profits, and zero revenue for the Mongolian government from the mine, much different from what they expectContinue reading “Rio Tinto Considering Doing Nothing on Oyu Tolgoi”

Only About $6 Trillion Invested in Renewable Until 2035

That is, if last year’s record as reported by Bloomberg New Finance ($268.7 billion) is an indication for the average of these 23 years. That would be a low scenario, and clearly an insufficient one. A new report by REN21 and ISEP about the future of clean energy discusses predictions by various groups on theContinue reading “Only About $6 Trillion Invested in Renewable Until 2035”

American Embassy “Investment Climate Report”

The American Embassy in Ulan Bator helpfully has compiled a report on the sorry state of the climate for foreign investment in Mongolia. From page 29: Investors inform us of numerous and consistent accounts where rulings apparently ignore contract terms. Further, the judges adjudicating such cases have told investors or to third party intermediaries thatContinue reading “American Embassy “Investment Climate Report””

IRENA Report on Financing Renewable in Developing Countries

This tweet by Hiro Matsubara just pointed to a new report by IRENA on the fascinating topic of financing renewable energy in developing countries. It has this to say in its executive summary (on page 19): Furthermore, given that RE investment has followed broader FDI trends, countries which have poor frameworks for FDI in generalContinue reading “IRENA Report on Financing Renewable in Developing Countries”

Low Carbon Development Partnership Agreement between Japan and Mongolia

Signed today and published on the Japanese Foreign Ministry website. I wrote about the negotiations last December here. This is very important news for any large scale renewable project in the Gobi desert. Therefore, I need to republish the whole text of the Agreement for further reference later on: Low Carbon Development Partnership between the JapaneseContinue reading “Low Carbon Development Partnership Agreement between Japan and Mongolia”

Economist: Mongolia Fastest Growing Country 2013

Julian Dierkes just pointed on Twitter to this prediction of the ten fastest growing countries for 2013 at the Economist. From the article: The star performer will be Mongolia, followed by Macau. Both should give thanks to China (number four on the list): it is China’s demand for Mongolia’s minerals that is powering its economy; andContinue reading “Economist: Mongolia Fastest Growing Country 2013”

Sierra Club Oyu Tolgoi Press Release

Justin Guay of Sierra Club kindly called my attention to their latest press release, which opposes financing for the Oyu Tolgoi project from the World Bank and the European Bank for Reconstruction and Development on various reasons. I recall having discussed the excellent new report out from Sierra Club opposing a new coal plant atContinue reading “Sierra Club Oyu Tolgoi Press Release”