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Mongolia shines at awards

MONGOLIAN projects almost swept the pool Thursday in the inaugural Asia Mining Awards which were ...

Kristie Batten
Mongolia shines at awards

Members of the mining industry nominated and voted to determine the winners.

Outspoken Ivanhoe Mines chief executive Robert Friedland took out Mining Personality of the Year after delivering one of the keynote presentations of the conference on Wednesday morning.

Ivanhoe’s world-class $US6.2 billion ($A5.9 billion) Oyu Tolgoi project took out Project Development of the Year, while Mongolia won Mining Country of the Year.

Oyu Tolgoi is considered the world’s largest undeveloped copper-gold and is expected to account for up to a third of Mongolian gross domestic product when commercial production begins next year.

In keeping with the Mongolian flavour of the evening, Hunnu Coal was awarded Deal of the Year after it was taken over by Banpu Coal in a $A477 million deal last year.

Hunnu listed on the Australian Securities Exchange at 20c and only 18 months later shareholders received $1.80 per share in the takeover.

Firebird Global Fund co-founder and manager James Passin was awarded Fund Manager of the Year.

Passin’s Mongolia Fund Class A has achieved 161% growth since its inception in 2010.

Junior explorer Indochine Mining walked away with the Discovery of the Year award for its Cambodian finds, as well as its revitalisation of the Mt Kare project in Papua New Guinea.

Indochine chairman Ian Ross said the company was delighted to accept the award.

“This recognises our encouraging initial gold-copper results from the drilling program in Cambodia as well as the reactivation of the Mt Kare gold-silver project in PNG,” he said.

“I would like to thank the industry for recognising our projects as standouts and congratulate Mines and Money for hosting such a successful conference.”

Mines and Money sales director Pablo Martin said the recipients were honoured for their ability to thrive during times of volatility and global market uncertainty.

"Resources and mining is a very special industry where success does not come without extreme hard work and perseverance,” he said.

More than 2500 delegates have attended Mines and Money this week, with the four-day conference due to wrap up this afternoon.

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