There are many interesting projects in Mongolia. not least Oyu Tolgoi, which John Chadwick reports on in the April issue of International Mining. Not surprisingly mining suppliers newly locating to the country are moving in in significant numbers. Gemcom Software International, that claims to be “the largest global supplier of mining software solutions,” will open an office in Ulaanbaatar, on February 23, 2011. Gemcom’s software, including Surpac, GEMS, Minex, Whittle, InSite and MineSched, is already widely used by exploration and mining operations throughout the country. “Gemcom’s software has been playing a key role in the Mongolian mining industry since 1995 when Minex was purchased by Baganuur Joint Stock Co,” said Andrew Pyne, Senior Vice President, Gemcom AustralAsia. “Since then, we have established long-standing professional relationships with the Mongolian Government and many key mining entities such as Erdenes MGL and Centerra’s Boroo gold mine. The office gives us the opportunity to work even closer with our clients to help explore the full commercial potential of their operations.”“We are very satisfied with Gemcom’s products and services, and have no doubt that our use of Surpac, Minex, and Whittle has played a critical role in the success of our operations,” said Naranbaatar Lundeg, managing director, Glogex LLC. “With the opening of the Ulaanbaatar office, we look forward to working even more closely with Gemcom’s software experts and mining professionals and the global industry experience the company brings to the local level.”Mongolia has seen a significant boost in mining investments due to the increase in commodity prices and the Mongolian Government’s commitment to develop the country’s mining industry. As of November 2010, mining had already fuelled over 60% of foreign direct investment for Mongolia – a country rich in copper, gold, coal, molybdenum, fluorspar, uranium, tin, and tungsten deposits.“Mongolia is recognised as one of the world’s strongest emerging economies today, and Gemcom is committed to contributing to its continued growth and success through an enhanced local presence,” comments Simon Waghorn, Executive Director, Gemcom Mongolia. “Our Mongolian team of mining professionals has been recruited to support the local industry to help clients drive additional value from their businesses by giving them the tools and capabilities needed to improve site productivity and profits.”To further support the growth of Mongolia’s mining industry, Gemcom has launched a Student Sponsorship Program to help develop the region’s future mining professionals. The first-ever Gemcom sponsorship program recipient will be announced at the office opening and will receive a cash bursary towards their continuing education, and will have a paid summer internship at the Gemcom Ulaanbaatar office to gain valuable industry experience.
TÁNAISTE EAMON GILMORE has ruled out the prospect of having the government ask the EU-IMF Troika for extra time to meet its budget deficit targets – overruling a junior minister who earlier said a delay might be sought.RTÉ News has broadcast footage of Gilmore, being interviewed for tonight’s The Week in Politics, where the Tánaiste said he believed the public wanted an end to the series of austerity budgets aimed at bringing Ireland’s deficit under 3 per cent of total economic output.“We have to get the deficit down, and we have to deal with it,” Gilmore said.“I actually think that what people want to see – people want to see where is the end of this.”The Tánaiste bluntly added: “We need to get this over with.”The original bailout deal agreed with the Troika – which complemented a previous programme agreed with the European Commission, before Ireland entered the bailout – asked Ireland to get its deficit to under 3 per cent of GDP by 2014.This was renegotiated to 2015 after the current government entered office. In advance of last year’s general election, Labour had argued for the deadline to be extended to 2016.Earlier today a junior minister from Gilmore’s party had been reported as saying the government would broach the topic of extending the deadline, following the IMF’s slight back-track and admission that austerity programmes hit economies harder than first thought.Junior trade minister Joe Costello told today’s Sunday Times that the government would seek clarification from the IMF as to whether it now believed trying to reach the 3 per cent mark by 2015 would be detrimental to Ireland’s overall economic state.Read: IMF: Irish economy to grow but unemployment will remain high in 2013