Tuesday, November 30, 2010

Foreign Minister of Mongolia attended meeting of SCO

Ulaanbaatar, Mongolia, /MONTSAME/ With the aims to contribute to the development of activities and cooperation of member- countries and observer countries of Shanghai Cooperation Organization /SCO/, a Minister of Foreign Affairs of Mongolia G.Zandanshatar has proposed to hold a forum of scientists of SCO countries in Ulaanbaatar in 2012.

Who has the real power in Mongolia?

This is probably the most difficult question for foreign investors. There are several ways to start to think about investing in Mongolia.

Khan Bank opens “diplomatic office”

Khan Bank’s latest service to customers is a Diplomatic Office, specially designed to cater to the financial needs of embassies, international organizations, foreign invested companies, and their officials.

Nature Conservancy launches new program in Mongolia

The Nature Conservancy has launched a new conservation initiative to protect the globally significant grasslands of the Eastern Steppe of Mongolia. The Conservancy will share its conservation and scientific expertise to help the government of Mongolia balance conservation and economic needs. “This program will help Mongolia to set a new standard for sustainable development,” said Ms. Stephanie Meeks, acting president and CEO of The Nature Conservancy. “This unique effort will encompass policy initiatives with on-the-ground conservation techniques to protect more than 69 million acres of grasslands in Eastern Mongolia.”

B.Khurts relies on working group to secure his release

B.Khurts, Chief of Administration at the National Security Council, told D.Tsogtbaatar, Secretary of State of the Ministry of Foreign Affairs and Trade, when they met in London at the latest hearing of his trial that he was relying on the working group to secure his quick release.

Factions meet to discuss some matters

Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Monday, the Democratic Party faction at parliament debated a draft law on Credit information and related to it laws.

Battulga held talk with Vietnam's counterpart

Ulaanbaatar, Mongolia, /MONTSAME/ A head of the President's Office, D.Battulga held talks with his Vietnamese counterpart Nguyen Van Chien. The sides have signed a cooperation agreement between the two offices.

India suggests joint work with Mongolia in sea buckthorn culltivation

Highlighting concern over melting of Himalayan glaciers, India’s environment minister Jairam Ramesh has suggested expanding sea buckthorn cultivation by tying up with countries like Mongolia, China and Russia as part of mitigating strategies against climate change. He told the National Conference on Sea buckthorn organized by The Indian Defence Institute of Physiology and Allied Sciences, "Over a period of time in other areas also we will discover if sea buckthorn can make a difference."

Speaker receives Canadian ambassador

Ulaanbaatar, Mongolia, /MONTSAME/ Parliament Speaker of Mongolia D.Demberel met the Canadian Ambassador to Mongolia Gregory Goldhawk November 29.

State prize awarded

Ulaanbaatar, Mongolia, /MONTSAME/ The President of Mongolia, Ts.Elbegdorj issued a Decree on awarding D.Sosorbaram and B.Tsenddoo with the State prize of the year 2010.

Americans celebrate Thanksgiving in Mongolia

The USA has a number of national holidays, Christmas, New Years, Memorial Day, Independence Day, etc., but I feel there is no better holiday than Thanksgiving. Thanksgiving is all about family, football and feasting. I have countless memories of Thanksgiving days at different homes of my family. Each was a memorable occasion. No other national holiday compares to Thanksgiving.

R.S.Koppa, President of TDB: Trade and Development Bank of Mongolia successfully returns to the international debt capital markets

In October 18, 2010 TDB confirmed the successful issue of its second bond in the international debt capital markets, raising USD 150 million of 3 year Senior nsecured Notes under its Euro Medium Term Note (EMTN) USD 300 million bond programme to increase the bank’s funding base. base. In the very next day, the oldest bank of Mongolia, TDB celebrated its 20th anniversary. A few weeks later, on November 10th 2010, TDB confirmed the issuance of USD 25 million in five year Subordinated Notes under the same EMTN programme to increase the bank’s capital base. On this double occasion, we invited Mr.R.Koppa, President of TDB, to have his views on the bond issues, the current situation of the Mongolian economy and its further trend, and to share his impressions of working in Mongolia, especially at Trade and Development Bank.

Korea-Mongolia Friendship Concert

This year marks the 20th anniversary of establishing diplomatic relations between Korea and Mongolia, and to celebrate this special year a friendship concert was held on Monday.

Budget for 2011 reached 3.9 trillion MNT

D.Zorigt, MP and Deputy Chief of the Budget Expenses Control’s Sub Council discussed about the budget for 2011

Landdrill International Inc - Third Quarter Financial Results

MONCTON, NB, Nov. 29 /CNW/ - Landdrill International Inc. (TSX.V:LDI) reports a $6,427,000 or 125% increase to revenues for 2010's third quarter, as compared to the prior year's amount. The Company had revenues of $11,557,000 and net income of $649,000 for the three month period ended September 30, 2010, compared to revenues of $5,130,000 and a net loss of $652,000 for 2009's comparable three month period.

Monday, November 29, 2010

Industry still wary of nation

Oyu Tolgoi is off and running. So are many other Mongolian mining projects. So, has the country turned a corner and become an appealing place for miners to invest money?

Japan steps up efforts to procure rare earths

TOKYO (MarketWatch) — Japan’s efforts to procure rare earths has continued to intensify in the face of reported declines in Chinese exports, with Toshiba Corp. and Sojitz Corp. recently announcing separate actions aimed at ensuring the nation’s supplies.

United state budget for 2011 approved

Ulaanbaatar, Mongolia /MONTSAME/ At its Thursday plenary session, parliament discussed a draft amendment to the law on mineral resources and draft law on the united state budget of Mongolia for 2011.
At the beginning of the session, MPs got acquainted with proposals and conclusions, drawn up by parliamentary Standing Committee on economy for the final reading of a draft law on amending the Law on mineral resource. Since there were no questions or clarification, the draft was passed by 79.1 percent of the total number of MPs.

Agreement signed between Mongolia and international organization

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, 24 November in Geneva, an agreement was signed between the Government of Mongolia and the International Organization for Migration / IOM /. Document with the Mongolian side has signed the Permanent Representative of Mongolia Ambassador L. Orgil, on the other hand - IOM Director General William Swing.

Montsame became executive board member of OANA

Ulaanbaatar, Mongolia /MONTSAME/ From 24 to 27 November in Istanbul, Turkey has successfully completed the 14th General Assembly of the Organization of News Agencies in Asia and the Pacific.
In its Assembly was represented by the Director of "MONTSAME" news agency, T. Baasansuren.

Mining licenses can be canceled only after compensation, say experts

Almost a year and a half after the law banning all mineral prospecting, exploration and mining in water basins and forest areas was passed, implementation began last week. The Government initiated a process of revocation of licenses in stages, beginning with 254 alluvial gold mining licenses. The law covering environmentally vulnerable areas is like those in developed mining countries including Canada and Australia.

Mongolia to provide rare-earth alternative to China

Toshiba and Mongolia have inked an agreement to cooperate on developing the latter's mineral resources. The discussion will include developing sources of uranium, rare earth and rare metals products.

Toshiba Signs Memorandum of Understanding on Cooperation in Development of Mineral Resources and Social Infrastructure with Mongolia's MNFCC

TOKYO - Toshiba Corporation (TOKYO: 6502) and Mongolia's MNFCC LLC signed a Memorandum of Understanding (MOU) under which they will initiate discussions on possible cooperation in the development of Mongolia's mineral resources, including uranium, rare earth and rare metals products, and enhancement of the country's social infrastructure.

Mongolia Renews Commitment to Afghanistan at Lisbon Summit

At the NATO summit in Lisbon, President Elbegdorj of Mongolia renewed his country’s commitment to the ongoing operations in Afghanistan with a pledge to send more army engineers, border patrol experts and rescue specialists.

Hakuho wins 17th title at Kyushu sumo

Grand champion Hakuho of Mongolia defeated Toyonoshima in a playoff to win the Kyushu Grand Sumo Tournament on Sunday.

Mongolia's motherlode

This is the big one.

Deep in the Gobi Desert, in one of the most remote and bleak parts of the world, the most talked-about copper-gold mine in history is going up with remarkable speed.

Mongolia Medal Tally in Asian Games 2010

In 2010 Asian Games held in Guangzhou, China from 14th – 27th November 2010, Mongolia has managed to Win 16 Medal (2 Gold Medals, 5 Silver Medals and 9 Brozne Medals).

Mongolian National Day marks in Hanoi

Mongolian Ambassador to Vietnam Palam Sundev held a reception in Hanoi on November 26 to mark the 86th anniversary of his country’s national day (November 26).

Resource shortages, cyberthreats concern Germany

Germany's defense minister says a lack of natural resources and possible cyber attacks are among future security threats threatening the country.

Toshiba seeks mineral resource development in Mongolia with local firm

TOKYO, Nov. 26, 2010 (Kyodo News International) -- Toshiba Corp. (OOTC:TOSYY) said Friday it has inked a memorandum of understanding with a Mongolian consultancy for possible cooperation in developing mineral resources including uranium and rare earths, and enhancing social infrastructure in the resource-rich nation.

Rio says Oyu Tolgoi first ore in 2012

Rio Tinto said its total capital expenditure for the 18 months to December 2011 remained as forecast, at about $US13 billion ($A13.25 billion).

Mongolian mining bans could deter speculators -investor

BEIJING, Nov 25 (Reuters) - Mongolia's decision to revoke hundreds of gold mining licenses last week has alarmed investors but the government's efforts to clean up its mining sector could have long term benefits, the head of a foreign fund said.

Thursday, November 25, 2010

State President receives Head of the Office of the President of Mongolia

State President Nguyen Minh Triet received the Head of the Office of the President of Mongolia, Dashjamts Battulga, in Hanoi on November 25 at the invitation of Head of the State President's Office Nguyen Van Chien.

Mongolian mining bans could deter speculators -investor

BEIJING Nov 25 (Reuters) - Mongolia's decision to revoke hundreds of gold mining licenses last week has alarmed investors but the government's efforts to clean up its mining sector could have long term benefits, the head of a foreign fund said.

USD560 million to be spent on improving services in provinces

Prime Minister S. Batbold told Parliament that USD560 million would be spent on improving services in the provinces while Ulaanbaatar will get USD20 billion to strengthen its infrastructure.

Bonuses for each ton of wheat

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet has decided to issue monetary reward in the amount of 50 thousand MNT per ton of grain that will be delivered to the State reserve and flour mills. The allocations to finance the promotion of food grains stand at 11.7 billion togrog and are fully included and accepted in the state budget in 2010.

New buses will go in transport service

Ulaanbaatar, Mongolia /MONTSAME/ At its meeting on Tuesday, the cabinet decided to transfer on contract basis 400 large-size buses. which have been purchased with budget funds, to public and private entities who run transport service.

"Water" program approved

Ulaanbaatar, Mongolia, /MONTSAME/ A plan was approved Tuesday by the cabinet to implement the national program "Water".

Advisor to President gives lectures in USA

Ulaanbaatar, Mongolia, /MONTSAME/ A national security policy advisor to the President M.Batchimeg has given a lecture named "Mongolia:Yesterday, Today, Tomorrow" at the center of Mongol studies in Indiana University, USA, for teachers and students.

Yakunin to support railway transport

V.I.Yakunin, President of Russian Railway, which is the Mongolian Government’s partner in Ulaanbaatar Railway, recently met with First Deputy Premier N. Altankhuyag and expressed satisfaction that Mongolia was to build a Russian-specification wide-gauge railway to help export its coal.

Compensation regulation on suspended license was approved

Nicknamed as “long named law” – Law on Prohibition of exploration and mining operations in the areas of water and forest reserve has adopted quite long ago and it is waiting its law enforcement, urged by civil movements and reactions.

Rio Tinto: Oyu Tolgoi 2011 Capex May Be More Than $1 Bln

More than $1 billion is likely to be spent on the massive Mongolian Oyu Tolgoi copper and gold project in 2011, a senior executive on the project said Wednesday.

Long Harbour Reviewing Precious Metals Properties in Mongolia

VANCOUVER, BRITISH COLUMBIA, Nov 24, 2010 (MARKETWIRE via COMTEX) -- Long Harbour Capital Corp. /quotes/comstock/11v!e:lhc (CA:LHC 0.13, +0.02, +19.05%) reports that, as part of its ongoing evaluation of business opportunities in the natural resource sector, the Company is currently reviewing various precious metals, rare earth mineral and uranium properties in Mongolia.

Mongolian ex-sumo champion claims conflict of loyalty

Former sumo grand champion Asashoryu says an Asian Games wrestling final has split him between his homeland, Mongolia, and Japan, which forced him to retire after he committed a series of faux pas.

Ivanhoe Mines says has strategic options

* Seeks to head off possible creeping takeover by Rio Tinto

* Sovereign wealth funds keen on firm's key focus Mongolia

Mongolia to sell $500-$600mln bond early-2011-c.bank

* Debut bond of $500 mln to $600 mln seen in early 2011

* C.bank favours bond half the size govt had first proposed

* Togrog up 15 pct this year as China demand fuels growth

Mongolia 2010 GDP growth seen at 7.5 pct-govt official

LONDON, Nov 24 (Reuters) - Mongolia's gross domestic product (GDP) should grow by 7.5 percent in 2010, a senior government official said on Wednesday.

Wednesday, November 24, 2010

MPP wants copper royalty at 15%

The MPP group in Parliament favors a 15% royalty on copper, both ore and enriched, to make up for the revenue loss following repeal of the windfall profit tax on January 1, 2011. It expects the measure to yield MNT207 billion to the budget. The group yesterday discussed amendments to the law on mineral resources and hoped the Government would accept its suggestions and submit to Parliament for discussion a revised policy on mineral resources within two weeks, the head of the group, D.Lundeejantsan, told media after the meeting. The Government has proposed to introduce sliding royalty rates on gold, copper and coal.

World Bank criticizes 2011 budget proposals

The revised 2011 budget proposal envisages a steep increase in government spending, together with a sharp rise in the fiscal deficit to 8.6 percent of GDP. This budget, if approved, will compound already existing inflationary pressures caused by the sharp economic rebound and the lack of spare capacity in the economy, says the World Bank.

Vice speaker N. Enkhbold visited in Australia

Ulaanbaatar, Mongolia /MONTSAME/ The Mongolian delegation headed by Vice-Speaker of the Great State Hural, chairman of the Mongolian-Australian parliamentary group N. Enkhbold paid an official visit to Australia on 15-9 November at the invitation of the Parliament of this country.

U.N. experts working in Mongolia

Ulaanbaatar, Mongolia /MONTSAME/ The head of the Anti- Corruption Agency (ACA) Ch.Sangaragchaa met on Monday experts from UN Convention against Corruption who arrived in Ulaanbaatar.

Mongolian coal failed to reach the Russian port

As reported earlier on www.business-mongolia.com site (http://www.business-mongolia.com/mongolia/2010/11/08/northbound-railway-transportation-test-has-made/), the very first 2000 tons of coal in 30 wagon carriages departed Ulaanbaatar Station heading to Naushki – Vostochny port. This action urged wide gauge railway policy adoption by the policymakers.

Mongolia coal export reached 10,95 million tons

According to the Economy, Statistics Information Committee of Inner Mongolian Autonomy Region North China, Mongolian coal export reached 10,95 million tons in between January – September 2010.

Budget deficit to be less than 9.8 % of GDP

Sh. Saikhanbileg, Leader of DP fraction, informed media that upon consideration of the revised state budget, the fraction concluded that the budget deficit for 2011 shall not exceed 9.8 percent of GDP.

What will happen with coalition Government?

Mongolian People’s Party (MPP), the former Mongolian People’s Revolutionary Party (MPRP) finished their Congress and it seems that everybody was happy there. Therefore, there are no reasons for them to kill the coalition Government. But it is a completely different story when it comes to the Democratic Party. There are so many forces there who want to stop the coalition Government.

Mongolia’s Rating Raised to B+ by Fitch on Economic Recovery

Nov. 24 (Bloomberg) -- Mongolia’s long-term debt ratings were raised by Fitch Ratings after the nation’s economy returned to growth and its foreign-exchange reserves climbed to a record.

Mongolia Inv (HKG:0402): licences not affected by revocation

In an announcement referring to news reports that the Mongolian government would revoke at least 254 mining licences for gold across the country on environmental grounds, Mongolia Investment (HKG:0402) says that it holds, through subsidiaries in Mongolia, 4 gold and copper exploration licenses.

Tuesday, November 23, 2010

World leaders thank Mongolia

Ulaanbaatar, Mongolia /MONTSAME/ The leaders of major states who participated in NATO Summit on Afghanistan issue talked to Mongolia's President Tsakhia Elbegdorj during the Summit's second day in Lisbon, Portugal, on Nov. 20 and praised Mongolia's contributing to stabilizing the situation in Afghanistan and implementing an active work of the foreign policy.

G. Zandanshatar will take part in SCO

Ulaanbaatar, Mongolia, /MONTSAME/ A regular meeting of the Council of the state heads of Shanghai Cooperation Organization /SCO/ will take place in Dushanbe, Tajikistan on November 25. In this meeting will participate from Mongolia the delegates led by a Minister of Foreign Affairs G.Zandanshatar.

Civil Will to form alliance with Green Party

The National Committee of the Civil Will Party ratified by majority suport on November 20 last month’s decision of the party’s Political Council to form an alliance with the Green Party.

Heated exchanges at DP meeting over Oyutolgoi shareholding

Heated exchanges among leaders and allegations and counter allegations over issues related to Oyutolgoi marked the DP National Consultative Committee meeting last week. N.Batbayar claimed that Finance Minister S.Bayartsogt had misled the country by saying Mongolia had 34% share in Oyutolgoi LLC, when the actual figure was 6.8%. Bayartsogt denied this and said he had learnt from Minister Kh.Battulga and former PM S.Bayar that Batbayar had also alleged “that I would entirely give Oyutolgoi to China”. He added that when he had asked Batbayar for an explanation, “he said he wanted to make me famous. Thank you, I do not need such popularity.”

Text of Oyutolgoi letter saying Government owns 34%

The Communications Department of Oyutolgoi LLC released an open letter last week, setting the record straight on the percentage of shares held by the Mongolian government in the company. The letter reads:

State hospital inaugurates oxygen plant, first in Mongolia

The State Clinical Central Hospital has inaugurated its own oxygen plant, the first ever in Mongolia.

Satellite tracking suggests wild birds may spread H5N1 in Asia

Nov 22, 2010 (CIDRAP News) – Satellite tracking of wild birds in Asia suggests they may be spreading H5N1 avian influenza from India or Tibet to Mongolia when they fly north in the spring, according to a recent report from the United Nations Food and Agriculture Organization (FAO).

Exploration licenses held by subsidiaries of Meritus Minerals Limited not affected by new regulations adopted by Mongolian Government

Vancouver, B.C.: Meritus Minerals Ltd. (MML) (TSX-V - MER) is pleased to advise that the two exploration licenses held by its subsidiary company Gutain Davaa LLC (The Gutain Davaaa Project) are not affected by changes to the Mongolian Mining Legislation announced on 17th November 2010.

Japan and Mongolia: “Rising Sun” Looks for “Bluer Sky”

Towards strategic partnership.

Monday, November 22, 2010

Working group to set up for UB traffic management

A Workshop on the topic ‘Traffic Management in European cities’ was co-organized by Integrated Urban Development Program which is financed by the Government of Germany and implemented by the Ministry of Roads, Transport, Construction and Urban Development, Ulaanbaatar City Government and GTZ. In this particular case, the UB Traffic Control Center was the organizing body. All organizations in relevance to Ulaanbaatar City’s road and transportation sector participated in the event.

Budget revisions explained

Many people were surprised that the Government could revise the budget draft within 24 hours, but time was of the essence as the budget approval deadline is drawing near. Our journalist asks the Chief of the Budget Policy Board of the Ministry of Finance, B.Batjargal, some questions.

New laws needed for cyber crimes

The debate on aspects of national security, organized by the President’s Office, the Civil Hall and the Standing Committee on Security and Foreign Policy, ended yesterday after four sessions.

170,000 herders owe banks MNT64.1 billion

The Government does not favor a proposal from a group of MPs led by S. Byambatsogt and J. Sukhbaatar to adjust the outstanding amounts owed by herders to banks against the MNT1.5 million it is committed to distributing to citizens. Byambatsogt has told media that herders’ debts now stand at MNT64 billion and they are suggesting that the Government sells bonds to the creditor banks to clear the dues, redeeming the bonds when it is ready to distribute MNT1.5 million to every citizen, who will include the indebted herders. He is surprised at the government’s lack of support this as the debts keep increasing with every passing day.

Elbegdorj addresses joint session of Japanese Parliament

President Ts.Elbegdorj yesterday told a joint session of the two chambers of the Japanese Parliament that the relationship between the two countries has reached a new stage, opening up possibilities of further collaboration. Both countrues stand to benefit if Mongolian mineral resources are exploited with the use of Japanese technology.

DP committee finds Government has not met promises

Many members of the National Consultative Committee of the DP, meeting in the Great Hall of the Government House, have expressed concern that several goals set out in the agreement that led to the formation of the coalition government have not been implemented.

Development Bank to fund major investments

On November 12, Parliament discussed a Bill on Centralized State Budget for 2011 that was redrafted by the government after being returned for essential amendment. In the redrafted Bill, total revenues of the centralized budget was estimated to be Tgs 3,284,300,000,000, expenditures to be Tgs3,955,000,000,000 and the total budget loss to be Tgs670.7 billion or equating to GDP’s 8.6 percent. In other words, the total revenue estimated in the amended Bill increased by Tgs227.3 billion and expenditures by Tgs705 billion from the previous Bill, causing the total loss standing at 2.5 percent to reach 8.6 percent. To a question by a MP who was interested in how the budget revenue increased, Finance Minister S. Bayartsogt answered, “When we first submitted the budget bill, the report of third quarter had not yet been released. A recently issued report showed positive indications.

Mongolian Justice Team Studies 'model' Nz Youth Justice And Child Protection Systems

A delegation of senior officials of the Mongolian Government and Judiciary will be in Wellington the week 22-26 November to find out about New Zealand's family law, youth justice and child protection systems

Mongolian resources lure world / Japan labors to strengthen ties, drawn by vast untapped reserves

Japan is making a concerted effort to strengthen its relationship with Mongolia, one of the world's richest stores of minerals.

President Ts.Elbegdorj State visit to Japan

From November 15 to 19, President Ts. Elbegdorj is paying a State visit to Japan. His visit in Tokyo City began when he met with Mongolians staying in Japan. Approximately 2,000 Mongolians study or work in Japan. In past years, the number of Mongolians who conduct research at institutions and universities has increased.

Japan and Mongolia to jointly exploit rare earths

TOKYO — Japan on Friday agreed with Mongolia to push for joint exploitation of rare earth minerals in the central Asian country amid concerns about a Chinese export freeze of the key minerals, officials said.

Mongolia's Harlem Globetrotter plots China downfall

(Reuters) - The big skies and wide open spaces of the Mongolian grasslands seem an odd place for a Harlem Globetrotter to spring from, but 2.15m tall Sharavjamts Tserenjankhar has become used to standing out in the crowd.

Mongolia to announce its partner in Tavan Tolgoi

Within the framework of 5-day visit to Japan by the President of Mongolia, Ts.Edegdorj, an official from the Mongolian Finance Ministrer Dorjhand stated that Mongolia’s partner in TT project shall be announced by the end of the month according to Bloomberg.

UK has worse wireless broadband than Mongolia

The UK has slower wireless broadband networks than Uzbekistan and Mongolia, according to Wireless Intelligence, an analytical arm of the GSM Association.

Japan, Mongolia to step up economic cooperation

Japan and Mongolia have agreed to step up economic cooperation, including the development of natural resources such as rare earth metals, as the two Asian countries prepare for possible free trade talks next year.

Japan, Mongolia Aim To Start FTA Talks In Early FY11

TOKYO (Kyodo)--Japan and Mongolia agreed Friday to accelerate their preliminary studies so they can start negotiations on a bilateral free trade agreement at an early stage in fiscal 2011 and cooperate in the development of natural resources such as rare earths.

Japan, Mongolia to step up cooperation on resource development, cultural exchanges

TOKYO (AP) - Japan and Mongolia have agreed to step up economic cooperation, including the development of natural resources such as rare earth metals, as the two Asian countries prepare for possible free trade talks next year.

Movement of Mongolian Rivers and Lakes sued Government of Mongolia

On October 22, United Movement of Mongolian Rivers and Lakes sued Government of Mongolia in the court of Sukhbaatar district of Ulaanbaatar city in order to get compensation of environmental damages in basins of Onggi, Zavkhan, Tuul, Khangiltsag, Khuder, Ulz, Yeroo and Gachuurt rivers in compliance with article 19.1 of the Mongolian Constitution, and Article 7.7.2, 11.1.6 of the Mongolian law on Government.

Mongolia Reviews Mine Licenses

HONG KONG—Mongolia's government is reviewing a list of more than 1,700 mining licenses to be terminated under regulations aimed at protecting the environment, a senior official said Friday.

Friday, November 19, 2010

Mongolian president expresses expectations for Japanese companies

TOKYO --President of Mongolia Tsakhia Elbegdorj, currently visiting Japan, made a speech in Tokyo on November 16 and expressed his hope for the participation of Japanese companies in the exploration, processing and shipping of rich deposits of uranium and rare earth elements in Mongolia.

Centerra Says May Be Hit as Mongolia Plans to Revoke Permits

Centerra Gold Inc., a Canadian producer of the metal, may lose four gold mining licenses in Mongolia as the nation’s government plans to revoke permits on environmental concerns.

MPs agree with Purevdorj, reject Finance Ministry draft

The Standing Committee on the Economy yesterday discussed the law drafts on the Treasury and Banking, with Minister of Finance S.Bayartsogt and Mongol Bank President L.Purevdorj answering members’ questions. The two, however, frequently disagreed with each other.

World Bank to give fresh grant for kindergarten construction

The Ministry of Education, Culture and Science has revealed that Mongolia received USD29 million as a non-repayable grant from the World Bank for its project on public education. The money has been used to repair 60 secondary schools, 25 hostels and some kindergartens. Some primary education expenses were also met with the grant money. Mongolia was excluded from the project a year ago when its per capita GDP exceeded USD1,000.

Mongol Bank sees foreign currency reserve rising

Mongol Bank officials have said that a part of its foreign currency reserve is always in the form of gold.

Many challenges face Mongolia as it seeks to transform itself

With nations scouring the globe in pursuit of dwindling mineral supplies, the world"s attention has shifted to Mongolia, a country some are heralding as the next resource success story. Among the last places on earth with rich, untapped mineral deposits, this landlocked, underdeveloped country is expected to become one of the world"s fastest-growing economies over the next decade -- if, that is, it can address a set of daunting challenges and bring these resources to the market, says an article in Summit Business Media.

Mongol Bank received 9803.3 kg of gold in 2009

According to figures released by the Mongol Bank, 130 companies and 800 indiovidual gold miners sold 9803.3 kg of gold to it in 2009, 5,380.5 kg less than in 2008. It is widely believed that mined gold was regularly smuggled out of the country to avoid paying taxes, particularly the windfall profits tax.

Sport complex to be opened

Ulaanbaatar, Mongolia, /MONTSAME/ A new complex of sport will open November 25. It has been erected at a grant from the Government of China.

Discussion on companies in Tavan Tolgoi

Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Wednesday, the cabinet supported the document pre-selection of companies /consortiums/ who, having mae the investments, will cooperate in the development of coal deposit Tavan tolgoi.

Honorary consul of Mongolia opens in Milan

Ulaanbaatar, Mongolia, /MONTSAME/ An opening of a Mongolia's Honorary Consulate took place in Milan city, Italy, on November 17. Present were Milan city leaderships, business delegation, honorary consuls in Milan, Mongolians who live there, the Ambassador to Italy J.Enkhsaikhan, and visiting this country Governor of UB city and Mayor of Ulaanbaatar G.Munkhbayar.

254 gold licenses are canceled

Gold mining licenses in the territory of water and forest reservoir will be canceled.

Garrison Announces Results of Geophysics Survey at Tuvshir, Results of Shareholders' Meeting, Issuance of Shares for Debt and Loan Details

TORONTO, ONTARIO, Nov 18, 2010 (MARKETWIRE via COMTEX) -- Garrison International Ltd. /quotes/comstock/11v!e:gau (CA:GAU 0.06, +0.01, +22.22%) ("Garrison") is pleased to announce that the initial Induced Polarization Gradient Array (IPGA) geophysics survey has been completed over the major areas of interest within Garrison's Tuvshir Project's northern exploration and mining licenses. A Mongolian geophysics company, GPGD LLC, which specialises in Induced Polarization surveys was contracted to conduct the IPGA program. Approximately 90 line kilometres have been surveyed at average 100 metre line spacing. On site monitoring was done on each survey line using calibrated equipment with the company's Project Geologist overseeing the survey. The results can be seen below in figure 1 with Resistivity and Chargeability maps side-by-side for comparison.

Lotus completes sale of Mongolian mining subsidiary

StockMarketWire.com - Lotus Resources has completed the sale of its Mongolian mining subsidiary, Lotus Minerals Mongolia, to Mongolian Minerals.

Mongolia the 'next Chile,' Ivanhoe's Friedland says

Mongolia will be the next powerhouse in the global copper mining industry, surpassing even Chile in the scale and efficiencies of projects, according to Robert M. Friedland, founder and executive chairman of Ivanhoe Mines Ltd.

Centerra shares drop on concern over Mongolia

* Says Gatsuurt license not on list to be revoked

* Says Boroo licenses are not subject to the law

* Shares fall almost 7 percent, settle at C$16.48

Orthodox Week held for the first time on Mongolian TV

Ulan-Bator, November 18, Interfax - The Orthodox Week was held by the Ah Oron (Motherland) Mongolian TV channel from November 8 to 14.

Thursday, November 18, 2010

Mongolia the newest “in thing” in investing

Some people have been talking up the imminent arrival of Mongolia as a hot new investing destination for years now, usually to hoots of derision. Recently, though, they had not one but three separate confirmations that Mongolia has finally become the newest “in thing” in the fickle world of investing, reports The Financial Times. The first indicator was at an event for a London think-tank called the CSFI. This august institution usually doesn’t talk much about adventurous investing and certainly not about Mongolia but at a gathering of Big Bears – pessimistic types predicting a coming financial storm – the subject of Mongolia came up.

Several paved roads to be built in 2011

The draft budget for 2011 includes plans to build several paved roads under the Millennium Road project and other programs, with money from the Asian Development Bank and Kuwait Fund.

"Law on mineral resources must be amended"

Ulaanbaatar, Mongolia, /MONTSAME/ At the initiative of the Presidential Office of Mongolia and in co-operation with Mongolia's National Mining Association /MonNMA/ and Mining legal research fund and assisted by the World Bank, a debate was organized Tuesday themed "Law on Mineral resources of Mongolia:Development and Tendency".

Mongolia and Japan: intergovernmental agreement

Ulaanbaatar, Mongolia /MONTSAME/ Currently in Japan with the state visit, the President of Mongolia Ts.Elbegdorj has received a Minister of Economy, Trade and Industry of Japan Akihito Ohata. The latter has informed that Japanese Government will officially begin negotiations with Mongolia's Government on conclusion of the Intergovernmental Agreement on Economic Partnership. "This is our Government's gift for Your visit, Mister President," said Ohata.

Brief from regular meeting

Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Wednesday, the cabinet considered a new wording of laws related to land relations, Geodesy and Cartography and agreed to reflect in it own suggestions and to submit to parliament.

Procedure for issuing compensation approved

Ulaanbaatar, Mongolia, /MONTSAME/ At regular meeting of cabinet on Wednesday, a procedure was approved for issuing compensation to people who hold special license to conduct search and exploitation of mineral resources.

Chadwick to see Oyu Tolgoi copper/gold mine progress first hand

International Mining’s John Chadwick is flying to Mongolia to visit the Oyu Tolgoi project next week in preparation for an Operation Focus article on the mine in early 2011. It is the world’s largest known undeveloped copper-gold project and is located in the South Gobi region of Mongolia, approximately 80 km north of the Mongolia-China border. When Oyu Tolgoi moves into full production, it will be one of the world’s top three copper-gold mines. International engineering and project management company AMEC has been commissioned by Oyu Tolgoi LLC to undertake the feasibility study for Lift 1 of the underground Hugo North block cave operation of its copper and gold mining project in Mongolia. Over the next 25 months, AMEC will work with Oyu Tolgoi’s engineering team to develop designs, specifications, cost estimates and a construction schedule for an 85,000 t/d block cave operation.

Coking coal and Chemical Plant will lead to prosperity

Mongolia 999 National Consortium is determined to participate in the construction of the Government’s programme to build industrial facility in Sainshand.

Singapore brands' medical edge

PRIVATE health-care providers in Singapore are stretching their wings to capitalise on the strength of markets such as China, Mongolia and Abu Dhabi.

Erdene Provides Project Updates and Third Quarter Financial Results

HALIFAX, NOVA SCOTIA, Nov 17, 2010 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. ("Erdene" or "Company") /quotes/comstock/11t!e:erd (CA:ERD 0.55, +0.05, +10.00%) today provided an update on its principal projects in conjunction with the release of its third quarter 2010 financial results.

Prophecy Resource to nearly double Mongolia’s power capacity

Mongolia is about to become home to a new coalmine and power plant, thanks to a Vancouver company.

Origo Partners Plc ("Origo" or the "Company") Holding in Company

The Company was notified on 17 November 2010 that, as at the same date, Spearpoint Limited ("Spearpoint"), within its nominee, Secure Nominees Limited, holds 16,837,740 ordinary shares in the Company ("Ordinary Shares"), representing 5.6% of the issued share capital. Of these, 14,262,657 Ordinary Shares, representing 4.7% of the issued share capital, are held on behalf of Spearpoint's customers on a discretionary managed basis. Spearpoint has a discretionary mandate over a further 3,438,268 Ordinary Shares, representing 1.1% of the issued share capital, which are not registered in its nominee.

Meritus intersects 12.00 meters of 7.53g Gold / Tonne at Gutain davaa

Vancouver, B.C.: Meritus Minerals Ltd. (OOTC:MERMF) (TSXV:MER) (MML)(TSX-V - MER) has received analytical results from an additional eleven holes from its diamond drilling program on the Toordogiin Shil Prospect, Gutain Davaa Project in northern Mongolia.

EBRD supports sustainable gold-mining industries in Kyrgyz Republic and Mongolia

The FINANCIAL -- The European Bank for Reconstruction and Development and Centerra Gold Inc., – a North America-based gold-mining company and the largest foreign investor in the gold sector in Central Asia – have joined forces to develop Centerra’s operations in the Kyrgyz Republic and Mongolia.

Wednesday, November 17, 2010

LIG links Mongolian steppe

LIG Engineering and Construction (E&C), one of the top-tier builders here in Korea, is changing the face of the Mongolian landscape, creating a highway, which traverses the central Asian country.

EBRD supports sustainable gold-mining industries in Kyrgyz Republic and Mongolia

The FINANCIAL -- The European Bank for Reconstruction and Development and Centerra Gold Inc., – a North America-based gold-mining company and the largest foreign investor in the gold sector in Central Asia – have joined forces to develop Centerra’s operations in the Kyrgyz Republic and Mongolia.

State visit of President to Tokyo begins

Ulaanbaatar, Mongolia, /MONTSAME/ A state visit of Ts.Elbegdorj, The President of Mongolia, to Japan started November 15 in Tokyo.

About Mongolian-German joint consultative meeting

Ulaanbaatar, Mongolia, /MONTSAME/ On November 15, at the Government House ran Mongolia-Germany joint consultative meeting in connection with financial support from Government of Germany.

Copper eases; capped near term by China policy risk

Copper prices fell in London and Shanghai on Tuesday, easing alongside oil and grains as the potential for Chinese monetary policy tightening continues to drag prices off recent highs.

Petroleum refinery certain to come up before 2014

Petroleum Authority Chairman D.Amarsaikhan recently told citizens of Zuunbayan in Dornogobi that exploration for petroleum in the area was very important for the country. The people had wanted to know how a Chinese company, Dongsheng, keeps exporting 40-60 trainloads of petroleum every week to China. Amarsaikhan said the company discovered petroleum in Zuunbayan in 1994 and now works under a product sharing agreement with the Government. It has produced 1,790 million barrels of oil until August, 2010, and exported 1,700 million barrels of it. It has so far recovered USD14 million or 8% of its outlay, and paid MNT33 billion to the Government.

Coking coal and Chemical Plant will lead to prosperity

Mongolia 999 National Consortium is determined to participate in the construction of the Government’s programme to build industrial facility in Sainshand.

When Uranium Outshines Gold

EARLIER this month, Global X Funds of New York announced plans for two exchange-traded funds — one for gold stocks, the other, uranium. Initially, Bruno del Ama, its chief executive, figured he knew which would capture the market’s attention. After all, gold prices have surged in recent months.

Amec awarded feasibility study for Oyu Tolgoi underground

TORONTO (miningweekly.com) - Engineering and project-management firm Amec will conduct a feasibility study for Lift 1 of the Hugo North underground block-cave operation Ivanhoe Mines' Oyu Tolgoi project in Mongolia.

Singapore health system a model for Mongolia

LAST month, private health-care provider Singapore Medical Group (SMG) unveiled plans to build a multi-disciplinary 50-bed tertiary hospital in Mongolia's capital Ulanbaatar.

Soros Sells Ivanhoe (NYSE:IVN), Golden Star (NYSE:GSS), Gold Fields (NYSE:GFI), Barrick (NYSE:ABX), Newmont (NYSE:NEM) and SPDR (NYSE:GLD)

George Soros' "Soros Fund Management" decreased a number of its gold assets in the third quarter, either lowering positions in or selling off completely, Ivanhoe (NYSE:IVN), Golden Star (NYSE:GSS), Gold Fields (NYSE:GFI), Barrick (NYSE:ABX), Newmont (NYSE:NEM) and SPDR (NYSE:GLD)

Local Restaurant Operator Earns Top bd's Mongolian Grill Honor

Dave Mehl Earns Multi-Unit Franchise Operator of the Year Award at the bd's Mongolian Grill Second Annual Workshop

Mongolia to Choose Tavan Tolgoi Coal Mine Contractor This Month

Mongolia will use a bidding process this month to choose a contractor to mine in Tavan Tolgoi, a region with one of the world’s largest untapped deposits of coal for making steel, a Ministry of Finance official said.

Committee sends property tax increase to Parliament

The Standing Committee on the Budget has agreed that Parliament should discuss the proposal to raise property tax from 0.6% to 2%. However, if Parliament appeoves the reaise, all civil representatives’ assemblies will then decide whether they want the increased rates in their areas or not.

Funding sources for Development Bank identified

Funding sources for Development Bank identified Minister of Finance S.Bayartsogt answered questions from members of the DP group in Parliament at their meeting yesterday to discuss the draft combined budget of 2011. The MPs felt the only way large projects could be taken up without increasing the budget deficit was to get the Development Bank to provide the capital. They felt it is urgent to formulate and adopt the legal principles that would make this possible.

Mongolia to Start Talks with Japan on Rare Earth

Japan and Mongolia are to launch talks on a bilateral free-trade deal, as the President of Mongolia Elbegdorj Tsakhia has arrived in Tokyo for a five-day visit. The talks include a stable supply of rare earth minerals.

Manas Petroleum Corp.: Financial and Operations Update for the Three and Nine Month Periods Ended September 30, 2010 Compared to the Three and Nine Month Periods Ended September 30, 2009

BAAR, SWITZERLAND--(Marketwire - November 16, 2010) - Manas Petroleum Corp. ("Manas") (OTCBB: MNAP) is pleased to report that it has filed on EDGAR and on SEDAR its quarterly report on Form 10-Q for the third quarter of 2010. The complete document can be viewed at either www.sedar.com or www.sec.gov.

Petro Matad spuds Davsan Tolgoi-4 well in Mongolia

Petro Matad (LON:MATD) said it spudded the Davsan Tolgoi-4 (DT-4) exploration well, which could be the last well to be drilled in 2010 on the Greater Davsan Tolgoi prospect in Mongolia’s Block XX.

Tuesday, November 16, 2010

Hunnu Coal Chairman raising money for iron ore venture in Mongolia

Hunnu Coal chairman Matthew Wood is seeking to capitalize on his company’s success in Monogolia this year, launching another company focused on the minerals-rich nation this week. Hunnu has been one of the big success stories in the minerals sector after closing a AUD20-million initial public offering (IPO) in early February. The company has delivered a more than five-fold return to its initial investors and, unlike the majority of this year’s resource floats, has never traded below its launch price.

US dinner raises funds for Mongolia Society project

The Mongolia Society and the Young Mongolian Professionals Association (YMPA) held a fundraiser roundtable with dinner and entertainment on November 11 in Arlington, Virginia, USA. Proceeds will support the Mongolia Society’s project to publish new books on Mongolian history and culture and YMPA’s creation of a nationwide database of young Mongolian professionals working in the US.

Mongolian delegation studies U.S. experience in uranium exploration

Ulaanbaatar, Mongolia, /MONTSAME/ Mongolian delegation--P.Altangerel and Ts.Batbayar MPs, a director of "Monatom" company R.Badamdamdin--was on a mission in Washington November 7-9 within the "Mining sector institutional technical asistance project".

Honour consulate's new office opens in Indonesia

Ulaanbaatar, Mongolia, /MONTSAME/ Honour Consul of Mongolia in Indonesia Mr Ch.Gozali hosted November 1st a reception in the "JW Marriote" hotel in Surabaya city of East Java province of Indonesia on the occasion of inauguration of Honour Consulate's new office in that town.

Association "Mongolian culture and Europe" founded

Ulaanbaatar, Mongolia, /MONTSAME/ On November 10, an Association "Mongolian culture and Europe" was established in Vienna. Its main goal is to support promotion of cultural ties between Mongolia and European countries.

"Oyu Tolgoi" company issues open letter

Ulaanbaatar, Mongolia, /MONTSAME/ On Friday, communications department of "Oyu-Tolgoi" company issued an open letter in connection with the rumors that in actual fact, the Mongolian government owns only 7% of the common shares, not 34%.

Inquiry on OT submitted to the Prime Minister

MP S.Erdene, D.Gankhuyag and G.Bayarsaikhan submitted an inquiry about OT agreement to the Prime Minister.

President Ts.Elbegdorj pays visit to Japan

Yesterday, President Ts.Elbegdorj left for an official visit to Japan, during which he will hold talks with Japanese leaders, and address the Japanese Parliament. He will also speak at Tokyo University, attend a meeting of the Mongolian-Japanese Business Forum, and meet with Mongolians in Japan.

Mongolia business environment ranked 73rd

The Mongolia business environment has been ranked 73rd in the ‘Doing Business 2011’, the eighth in a series of annual reports published by IFC and the World Bank.

MoU with EU supports projects worth 15 million euro

On November 11, the Government of Mongolia and the European Union (EU) signed a Memorandum of Understanding (MoU) on the Multiannual Indicative Plan (MIP) for cooperation for the period 2011-2013, on the occasion of the annual meeting of the EU Member States Ambassadors with the Prime Minister of Mongolia, S. Batbold, by the Deputy Head of the European Union Delegation to Mongolia, Dr. Michael Pulch, and the Ministry for Finance of Mongolia, S. Bayartsogt.

Centerra Gold Earns 50% Interest in Kara Beldyr JV

TORONTO, ONTARIO, Nov 15, 2010 (MARKETWIRE via COMTEX) -- All figures are in United States dollars.

Green Gold: How Carbon Finance can Help Mongolian Herders

Mongolia's GDP is set to surge as mining interest move into the country in a big way, but its agriculture sector is suffering in the wake of unsustainable practices that use up topsoil and contribute to climate change. One program aims harness the carbon markets – and the mines – to promote sustainable herding and reduce carbon emissions.

London accused of trying to 'entrap' Mongolian official

LONDON — A lawyer for a top Mongolian official arrested in London accused British authorities Monday of trying to "entrap" his client by inviting him to visit the country only to detain him for alleged kidnap.

Prophecy Resource Corp.: Detailed Environmental Impact Assessment Approved for 600 MW Pit-Mouth Powerplant by Prophecy's 1.2 Billion Tonne Chandgana Coal Project, Mongolia

VANCOUVER, BRITISH COLUMBIA, Nov 15, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy (CA:PCY 1.03, +0.10, +10.75%) (otcqx:PRPCF)(frankfurt:1P2) reports that a Detailed Environmental Impact Assessment (DEIA) pertaining to the construction of a pit-mouth 600MW coal fired power plant by Prophecy's 1.2-billion-tonne Chandgana Coal Project has been approved by the Mongolian Ministry of Nature and the Environment.

India Economic Summit: Mongolia? Huh?

Perhaps it is the Obama effect, with several prominent U.S. CEOs having already traveled to India (and back home) earlier this month with the U.S. President. Perhaps it is conference overload. Perhaps it is a planning thing.

Research and Markets: Mongolia - Telecoms, Mobile and Internet Report 2010

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/a7bbac/mongolia_telecom) has announced the addition of the "Mongolia - Telecoms, Mobile and Internet" report to their offering.

Mines and Money Hong Kong 2011 invites Mongolian companies

New Venue for Mines and Money Hong Kong 2011

Mines and Money Hong Kong has now outgrown the Four Seasons

Monday, November 15, 2010

SouthGobi May Post Profit Next Year as Sales Rise by Two-Thirds, CEO Says

SouthGobi Resources Ltd., a coal producer backed by China’s sovereign wealth fund, may post a profit next year as increased output boosts sales by two-thirds, Chief Executive Officer Alexander Molyneux said.

Origo Partners PLC Origo invests in Mongolian copper-gold prospect

Origo Partners Plc ("Origo") today announced the acquisition of a 30% stake in Altan Takhi Company ("ATC"), for a total cash consideration of US$3 million. ATC owns a 100% interest in the Budag Tolgoi copper-gold prospect ("Budag Tolgoi") situated in the central copper belt of Mongolia. Under the terms of the
transaction Origo has also been granted an exclusive option, exercisable prior to April, 2011, to increase its shareholding to 80% for an additional consideration of US$5.5 million.

Khan Resources to fight Mongolia license decision

* Says no legal basis for Mongolia to reject licenses

* Considering all legal means, international arbitration

* Shares down 5.56 pct at C$0.51

Japan, Mongolia to launch talks on free trade, rare earths

Japan and Mongolia are expected to agree on starting talks on a bilateral free-trade deal next week that would include a stable supply of rare earth minerals, a government official said Friday.

TDB opens subordinated debt market for Mongolian lenders

Trade & Development Bank of Mongolia has become the first Mongolian bank to sell subordinated bonds, returning to investors only weeks after issuing a senior international deal that was a rarity in its own right.

Friday, November 12, 2010

Revised budget for 2011 is submitted

The Cabinet submits the revised draft budget for next year to Parliament upon receiving criticisms from party blocs in Parliament as well as the Council of Speaker.

Coal Mining in Mongolia

Mongolia is a land-locked country in east-central Asia. It is a nation with rich resources, including – copper, gold, iron ore, molybdenum, oil, phosphates, tin, uranium, tungsten- and coal. Its ample mineral wealth has earned it the nickname of “Saudi Arabia of Central Asia.”

Kyrgyz President sees Mongolia as a model

Prime Minister S. Batbold has said that Mongolia has made great progress on its path to democracy and the market economy in the last 20 years, but there was still a long way before it could sit back and reflect on the gains of the transition. “As the dominant political force in the country, the MPRP bears the major responsibility for both achievements and shortcomings” and the party has set up 33 working groups to analyze and assess progress in diverse areas in society, economy, and politics.

Commodities boom has its dangers, too

As mining commodities enjoy boom times, pressure is growing to build the world"s supply of coal, bauxite and rare earth metals in increasingly difficult locales. As safety and environmental risks rise, so does the allure for developing economies like Mongolia to harness the world"s growing minerals appetite. "We expect to be one of the top-performing economies in the next few years, and this is mainly due to mining," D. Zorigt, Mongolia"s minister of mineral resources and energy, told CNN.

Cabinet meeting in brief

Ulaanbaatar, Mongolia, /MONTSAME/ The Cabinet members presented their proposals to the President's decree project on

Excise duty on oil products decreases

Ulaanbaatar, Mongolia, /MONTAME/ On its regular meeting held Wednesday, the cabinet discussed an issue of decreasing excise tax on some oil products.

EU and Mongolia signed memorandum on MIP

Ulaanbaatar, Mongolia, /MONTSAME/ On Thursday, November 11, in the State palace ran a signing ceremony of Memorandum of mutual understanding on the Multiannual Indicative Plan /MIP/ between European Union /EU/ and Mongolia for the period of 2010- 2013. The Memorandum has been inked by Finance minister of Mongolia S.Bayartsogt and by Mr Michael Pulch, a deputy head of EU delegation to Beijing at presence of the Ambassadors of EU member-countries in Mongolia.

Firebird Mongolia Fund acquired 14.2% of Baganuur JSC (MSE:BAN)

A record setting trade was held at MSE on November 2, with around US$ 15 million. Of the US $15 million, Baganuur JSC equity took 98% of the total trading with 2.9 million shares.

Baganuur set record sales in history of MSE

MSE Top 20 Index increased by 45.82 units or 0.34 percent to 13,508.53 units while BDS Index increased by 55.09 units or 1.92 percent to 2,911.68 points while and total market capitalization rose by 8.79 billion MNT to reach 1,241.95 billion MNT.

Harvard Business School prepares report on mining services cluster in Mongolia

A report, prepared by Dr. Michael E. Porter of the Harvard Business School in the USA and entitled “Mongolia’s Mining Services Cluster: The Microeconomics of Competitiveness”, says Mongolia is home to the world’s largest undeveloped deposits of gold, copper, coal, uranium and iron ore, and is on the verge of a mineral boom. With plans to fully begin exploiting its mineral wealth by 2013, the government hopes to triple Mongolia’s GDP (USD5.3 Billion in 2008) over the course of the next decade and transform the economy. Since transitioning to democracy and enacting economic reforms in 1992, Mongolia has attracted significant foreign investment but unemployment remains high and 35% of the population continues to live under the poverty line.

Ivanhoe Energy reports third quarter 2010 financial results and operational highlights

CALGARY, Nov. 10 /CNW/ - Ivanhoe Energy Inc. (NASDAQ: IVAN; TSX IE) reported today its financial results and operating highlights for the third quarter of 2010. Ivanhoe Energy has filed its quarterly financial report on Form 10-Q with the Securities and Exchange Commission and its Interim Financial Statements with the Canadian Securities Administrators for the period ended September 30, 2010. All figures reported are in US dollars unless otherwise noted. Highlights

Bolivia and Mongolia: New Cooperation Projects

In Bolivia, DW-AKADEMIE and the German Development Service (DED) are cooperating on a journalists’ training program. And in Mongolia, DW-AKADEMIE is supporting the restructuring of the national broadcasting service.

Population and Housing Census Starts in Mongolia

From 11-17 November, the 10 yearly Census will be conducted in Mongolia. During this nationwide population count, all people who are residing in the country will be counted, including stateless persons and foreigners who have lived in Mongolia for more than 183 days.

Ivanhoe's Oyu Tolgoi mine work ahead of schedule

* Expects initial production at Oyu Tolgoi in late 2012

* Posts narrower loss in Q3

* Says debt financing package discussions progressing (Adds detail)

Japan, Mongolia to discuss economic pact: Nikkei

The Japanese government has decided on plans to begin talks with Mongolia next spring to discuss an economic partnership, the Nikkei business daily reported.

Civil movements held meeting

Representatives from civil movements held a meeting to exchange views on the pressing issues in mining sector.

Mongolian Boxers at the 16th Asian Games – Guangzhou

The Mongolian squad will be looking to build on the success it achieved at the 2006 Asian Games, where the country took two silver medals and one bronze. At the 2007 AIBA World Championships Mongolia claimed one silver and at the 2008 Beijing Olympic Games one gold and one silver medal. The country’s biggest performance was most recently at the 2009 AIBA World Championships in Milan where it collected one gold, one silver and one bronze medal.

Prophecy Receives Permit to Mine at Ulaan Ovoo in Mongolia, Opening Ceremony November, 20

VANCOUVER, BRITISH COLUMBIA, Nov 11, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy (CA:PCY 0.95, +0.13, +15.85%) (otcqx:PRPCF)(frankfurt:1P2) announces that on November 9th, the Company received the final permit to commence mining operations at its Ulaan Ovoo coal mining project in Mongolia. Prophecy is one of very few international mining companies to achieve such a significant milestone. The mine is production ready, with an official mine opening ceremony scheduled for November 20, 2010.

Thursday, November 11, 2010

Mongolia Energy Corporation Begins Its Journey to World Energy Leader with the Khushuut Coking Coal Mine

San Diego, CA, November 11, 2010 --(PR.com)-- Mongolia Energy Corporation Limited (MEC) is an energy and resources developer that has global brand recognition aspirations. The first project on MEC’s path to become a global energy leader is its current and primary project, the Khushuut coking coal mine, a 600 hectares site on MEC’s 330,000 hectares of concession areas in Western Mongolia.

South Korean water project in Ulaanbaatar to serve 330,000 people

Korea’s largest water development aid projects yet will kick off in three Asian countries with the aim to better the lives of millions of people, the Korea International Cooperation Agency has said. The agency, as part of the East Asia Climate Partnership, will start projects in Mongolia, Azerbaijan and the Philippines with an estimated budget of USD69 million, hoping to directly affect 639,000 lives and indirectly affect countless more.

Eurasia Capital joins Global Alliance Partners

Eurasia Capital has announced that it has become a member of Global Alliance Partners (GAP), an international network of stockbrokers and investment banks. GAP Chairman Toyoharu Tsutsui said the admission of Eurasia Capital “represents a unique opportunity to extend our services and exposure to Mongolia, one of most exciting frontier markets globally". Alisher Ali Djumanov, Chairman of Eurasia Capital, said his firm “intends to provide its partners and their clients extensive access to Mongolian domestic equities market, source and execute M&A, private equity and pre-IPO deals and distribute share offerings of Mongolian companies through partner network internationally".

Mayor wants quicker relocation of ger district residents

Mayor G. Munkhbayar has instructed city officials to speed up work on the program to relocate inhabitants of ger districts. They would be offered apartments, of different sizes according to their choice, in lieu of the land where they live now. Until these apartment blocks come up on these lands in about five years, they will be provided with temporary apartments. All this entails a lot of legal work, changing land ownership rights and occupation agreements.

Turkey gives USD800,000 in military aid

Turkish Minister of Defense Mr. Vecdi Gonul arrived yesterday in Ulaanbaatar on a three-day official visit at the invitation of his Mongolian counterpart, L.Bold. Deputy Minister of Defense S.Baasankhuu and other officials welcomed the visiting team at the airport.

President receives Swiss Ambassador

Ulaanbaatar, Mongolia, /MONTSAME/ The President of Mongolia Ts. Elbegdorj received Ambassador of Switzerland to Mongolia Mr Blaise Godet on Wednesday, 10 November.

D.Tsogtbaatar participated in a high level meeting

Ulaanbaatar, Mongolia, /MONTSAME/ State secretary of Ministry of Foreign Affairs of Mongolia D.Tsogtbaatar participated in a high level meeting on Cooperation for Child Rights in the Asia - Pacific region that ran 4-6 November in Beijing, China.

Mongolia's state emergency committee elected a member of EC ICDO

Ulaanbaatar, Mongolia, /MONTSAME/ During the 19th session of the International Civil defence organization held 1-2 of November in Geneva, Switzerland, the State Emergency Committee of Mongolia has been elected as a member of Executive Council of that organization.

Manas Petroleum Corp. Announces the Completion of Seismic Acquisition on Block 13 & 14 in Mongolia

BAAR, SWITZERLAND — Manas Petroleum Corporation (OTCBB: MNAP) ("Manas") is pleased to announce that the seismic acquisition on blocks 13 & 14 has been completed without incident. The Chinese contractor DQE International Tamsag (Mongol) LLC acquired 300 km of 2D seismic, representing 100% of the total seismic program 2010 on blocks 13 & 14. Manas expects that the processing of the data will be completed by the end of December 2010.

Ivanhoe Mines Announces Financial Results and Review of Operations for the Third Quarter of 2010

Construction of the Oyu Tolgoi Copper-Gold Mine in Mongolia Rapidly Advancing

Turkey, Mongolia struggle to boost ties

Turkey and Mongolia held their sixth Joint Economic Commission (JEC) meeting in Ulan Bator on October 26. Deputy Prime Minister Bulent Arinc headed the Turkish delegation, and Mongolia's Environment and Tourism Minister, Luimed Gansukh, signed a memorandum of understanding to boost economic and commercial relations.

Mining Companies Want a Piece of Mongolia

Mongolia is famed for its vast, open spaces, but calling it “empty” would be a misnomer. Not only does the country host a rich and largely pristine environment, but beneath the steppes and desert lie mineral riches worth an estimated $1.3 trillion, reports Eurasianet.org. A host of global mining companies want a piece of this resource prize, writes Ulaanbataar-based correspondent Pearly Jacob: