Friday, October 29, 2010

Senior EBRD delegation visits Mongolia

The FINANCIAL -- A senior delegation from the European Bank for Reconstruction and Development (EBRD), led by Olivier Descamps, the Managing Director for Turkey, Eastern Europe, the Caucasus and Central Asia, visited Mongolia during 25-29 October.

Transport Authority of Mongolia Inspects Coal Transportation Companies

Transportation Authority of Mongolia has recently taken inspection measures on coal transportation companies on the southern border. More than 150 companies have been covered by the inspection measures, 46 of them have been qualified, 36 companies were shut down, and 26 were temporarily closed down by the authority.

PM receives high-level Russian team

A Russian delegation led by V.G.Maleyev, head of the Russia-Mongolia parliamentary group at the Russian Duma and also deputy head of the Committee for Ecology and Natural Resource Exploitation, called on Prime Minister S.Batbold earlier this week to exchange views on increasing bilateral trade, and on cooperation in railway and infrastructure. Exporting uranium and meat to Russia was also discussed.

UNFPA stresses need to involve women in combating disasters

When women have access to the same rights and opportunities as men, they are more resilient to conflict and disaster and can lead reconstruction and renewal efforts in their societies, according to The State of World Population 2010, released on October 27 by the United Nations Population Fund (UNFPA) in Mongolia. The ceremony was attended by, among others, S. Banzragch, Advisor to the Parliament Speaker, and Ms. Munkhtseren, Director of the Administrative Management Department, Ministry of Social Welfare and Labor.

President’s suggestions to MPs on budget provisions

President Ts. Elbegdorj has sent a list of suggestion for MPs to consider when Parliament discusses the draft budget for next year. It includes the following.

Mongolia Mining and Winsway join two Hong Kong indexes

Mongolia Mining Corp. and Winsway Coking Coal Holdings have been added to both the MonBiz Mongolia Index and MonBiz Hong Kong Index after their recent IPOs in Hong Kong, says Eurasia Capital. The two companies add USD5.6 billion in market capitalization value to each index, an amount that is larger than Mongolia"s 2009 GDP of USD4.2 billion. The MonBiz Mongolia Index now has 26 members with a total market capitalization of USD29.3 billion or near 700% of Mongolia"s GDP. Meanwhile, the MonBiz Hong Kong Index reached 9 members and USD10.6 billion in market capitalization or twice the size of the country"s GDP.

Railways has started the shipment of coal deposits Tavan - Tolgoi in the Asia-Pacific


Cabinet backs credit agreement

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet discussed and backed a draft law on ratifying a credit agreement established between the government of Mongolia and the Bank for Reconstruction and Credit (BRC) of the Federal Republic of Germany. The credit agreement has been established to implement a project on developing regional transportation infrastructure with an aim to improve food supply of Ulaanbaatar.

Mongolia to introduce exchange of agricultural raw materials

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet has discussed and backed in principle a draft law on exchange of agricultural products and raw materials. When Ministers' proposals are included, the draft will be submitted to the State Great Khural.

Mongolia aims to have logistic center

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting backed in principle a draft financing agreement to be established between the government of Mongolia and the Asian Development Bank (ADB) for a project on developing a regional logistic center. The issue of financing the agreement will be consulted with a related Standing committee.

Cabinet meeting in brief

Ulaanbaatar, Mongolia, /MONTSAME/ Wednesday's cabinet meeting discussed and backed a draft law on ratifying financing agreements established between the government of Mongolia and the International Development Association (IDA) for the "Developmental policy financing-2" program and a project on technical assistance covering several sectors. The drafts will be submitted to the State Great Khural.
The government has approved the rule of exchanging information and cooperating in controlling over drugs, psychic substances and over a turnover of their raw materials. The rule reflects rights and obligations of the authorities of foreign affairs, health, environment, intelligence, police, customs, professional inspection, veterinary and breeding services.

Digital radio, television broadcasting to be introduced

Ulaanbaatar, Mongolia, /MONTSAME/ Pursuant to the cabinet's program for 2008-2012 on transferring radio and television broadcasting into a digital technology and creating proper conditions for airing TV channels nationwide, the cabinet has made a decision to implement a related national program and considered as necessary to ensure a preparation for the national program until July 31 of 2014.

B.Oyunsuren wins bronze at university world championship

Ulaanbaatar, Mongolia, /MONTSAME/ A woman wrestler of the "Khangarid" sports club and international master of sports B.Oyunsuren has won a bronze medal in the World University Championship for Free-Style Wrestling which started Tuesday in Torino city, Italy.

Premier meets EBRD's managing director

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the Prime Minister S.Batbold received Mr. Olivier Descamps, a Managing Director for Turkey, Eastern Europe, the Caucasus and Central Asia of the European Bank for Reconstruction and Development (EBRD). They have discussed issues of the ties and collaboration between Mongolia and the EBRD.

Luminant reclamation gets international attention

Luminant's Thermo Mine, near Sulphur Springs, and Winfield Mine, near Winfield, which fuel the company's Monticello Power Plant, recently played host to Mongolia's deputy director of fuel policy from the Ministry of Mineral Resources and Energy. Boldkhuu Nanzad visited the mines Friday, Oct. 15, to get a look at best practices in surface mining and reclamation. The event was part of a three-week tour through the U.S. State Department's International Visitor Leadership Program.

Coking Coal Prices Set to Rise After Q3/Q4 Softening

Coking coal prices have been relatively steady these last few months but a number of factors are likely to converge to force a small rise in integrated steel producers coking coal costs early next year.

Uncle Ho’s poems translated into Mongolian

Poems from the “Prison Diary” written by the late President Ho Chi Minh have been translated into Mongolian by President of the Mongolia-Vietnam Friendship Association (MVFA) Doctor Sonomish Dashtsevel.

Thursday, October 28, 2010

Prophecy Resource told it will get mining license at Ulaan Ovoo

A government commission appointed by the Mongolian Ministry of Mineral Resources and Energy has told Prophecy Resource Corp. following an on-site inspection at the Ulaan Ovoo mine site that it will be granted the mining license soon and has asked it to prepare to begin production operations. The eight-member commission was satisfied with how the company had complied with all legal requirements so far.

Controversy dogs Mongolia’s infrastructure plans

The new gold rush to develop Mongolia"s resources could make it the world"s fastest-growing economy over the next five years. To profit from its untapped iron ore, coal, copper, uranium, silver, and gold deposits, the government needs to build a vast network of roads and railways to ship the minerals out of the country"s vast interior. More than 10 "strategically important" deposits are in development including the Dornod uranium deposits, the Asgat silver deposit, and the massive Tavan Tolgoi coal site.

Students win medals international IT olympiad

Ulaanbaatar, Mongolia, /MONTSAME/ Students of the School of Mathematics and Computer Sciences at the Mongolian State University (MSU) have grabbed a bronze medal in the 35th South East Asian Olympiad for Information Technology which has been held in Tianjin city, China.

Mongolia Sweden business forum to be held

Mongolia-Sweden business forum dedicated to the spheres of mining, construction and infrastructure will run November 2-3 in Ulaanbaatar co-organized by the Embassy of the Kingdom of Sweden, the Center for Environmental Technology (CENTEC), the Swedish International Development Cooperation Agency (SIDA) and the Trade consul of Sweden in frames of the 20th anniversary of the Mongolia-Sweden cooperation. The upcoming meeting is expected to bring together Swedish state delegates and businessmen. The sides will conclude results of projects on developmental cooperation and seek opportunities to boost the Mongolia-Swedish business ties.

Khan wins another favorable ruling in Mongolia, shrs up

* Appellate court upholds administrative court ruling

* Says NEA can appeal ruling within 30 days

* In compliance with all Mongolian laws - Khan CEO

* Shares up as much as 23 pct (Adds CEO comments, background, updates shares)

Afghanistan, Liberia and Mongolia Recognized for Improved Budget Transparency

Ottawa, Canada (Vocus) October 27, 2010

Golf in Mongolia

As I landed at the Genghis Khan Airport in Ulaanbaatar, Mongolia I thought about how little I knew about this country. Taxiing to the terminal, I looked out the window to see an array of old biplanes parked in a field, beside them were several Cold War-era Russian Tupalev passenger jets with dismantled engines, and next to all of this were a half dozen new Lear jets that are reserved for the rich and prosperous. Mongolia – a land of extremes.

McDonalds trying for Mongolia

Mongolia is one of the lucky "McDonalds Free" countries of the world. In Mongolia Mongolians eat fast food, they have their own, Khaan Buuz. Buuz is a mutton dumpling; I'm going to post about those later on Things that Fizz & Stuff.

AC Milan Soccer School kicks off in Waltham

AC Milan is not just a name – even though it is about the biggest name there is in the sport of soccer – it’s a philosophy.

Singapore Exchange's Bocker Faces Revolt Over ASX Takeover

Magnus Bocker, who stitched together eight European stock exchanges and sold them in a bidding war, is running into a wall with shareholders and politicians over his plan to acquire Australia’s main bourse.

KESI, Mongolia boost ties

Korea Elevator Safety Institute President Kim Nam-deuk held a second meeting with Ya. Sodbaatar, director of the State Specialized Inspection Agency of Mongolia, on Oct. 26 in Seoul to further bolster collaboration between the two countries in the realm of elevator technology.

SouthGobi proves its coal business in southern Mongolia, ready to push production

Company grows to 450 employees from six and to $36 million from $3 million in one year

Mongolia court rules in favor of Khan Resources

* Appellate court upholds administrative court decision

* Says NEA has right to appeal ruling within 30 days

Wednesday, October 27, 2010

Civil Will one step nearer alliance with Green Party

The Political Council of the Civil Will Party met yesterday and approved by majority vote the alliance offer of the Green Party.

Mongol Bank Governor tells MPs why interest rates cannot be reduced

Large foreign companies have borrowed USD760 million to finance their work in Mongolia but all of this is from foreign sources. With the Central Bank’s policy interest rates high, commercial banks cannot charge lower interests and thus cannot service loan demands. The Central Bank fears that pumping money into the market at the moment may destabilize the economy.

Rise in Mongolian stocks may be deceptive

One hundred and ten per cent is the gain this year in the Mongolia Stock Exchange Top 20. It is a stellar index of companies that you"ve almost certainly never heard of and which mostly have something to do with coal. The story behind this breathless advance is one of depth and proximity, of mammoth metal and energy reserves sitting on the doorstep of mineral-hungry China. If you believe that China"s appetite will only swell from here, runs the argument, Mongolia should be a sure thing.

Alamar Resources set to expand gold assets with Mongolian acquisition

Alamar Resources (ASX: ALG) has entered into a conditional agreement to acquire 100% of MRCMGL LLC (Mongolian Resource Company), a growth-oriented Mongolian based diversified resource company engaged in the acquisition, development and operation of resource properties in Mongolia.

2010 #2 fastest growing B.C. company: SouthGobi


Company grows to 450 employees from six and to $36 million from $3 million in one year

Savings insurance proposed to replace Government guarantee

The Mongol Bank and the Ministry of Finance have established a working group to study the introduction of a savings insurance system to protect account holders in banks. This will replace the present Government guarantee, and would also reduce pressure on the budget.

The State Property Committee is responsible for more than privatization

Established in the days of the transition to a market economy, the State Property Committee (SPC) has outlived its utility in the eyes of many who want it disbanded before it becomes totally irrelevant and an anachronism. Others feel its role should change, and it can be made responsible for arranging public-private partnership under the Concession Law.

World Bank support for Government’s reforms continues

Minister of Finance S. Bayartsogt and Ms. Coralie Gevers, the new Country Manager of the World Bank for Mongolia, signed today a USD30-million Financing Agreement in support of the significant reforms that the Government has been undertaking since it was hit by the economic crisis in 2008.

Mayor meets Chinese Ambassador

Ulaanbaatar, Mongolia, /MONTSAME/ The Mayor of Ulaanbaatar city G.Monkhbayar met Monday Mr. Yu Hongyao, the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to Mongolia.

Olympic champion opens his foundation

Ulaanbaatar, Mongolia, /MONTSAME/ State Honored Sportsman and Olympic champion N.Tuvshinbayar has set up a charity foundation named "Tuvshin" to support children who love sports.

London Stock Exchange team won MSE tender bid

MSE management tender bid was announced several months ago. As earlier reported by business-mongolia.com, Korean Stock Exchange, NASDAQ OMX, London Stock Exchange and Deutsche Borse interested in the tender bid. Even NASDAQ OMX and its Mongolian partner Mosdaq organised press conference and provided information to media.

Era Models Agency Booms in International Market

The fashion industry is a product of modern age, it is applied art dedicated to clothing and lifestyle accessories created with the culture and social influences of a specific time. In Mongolia the industry has started its in early 90’s.

Brief update on the river movements

About court case on environmental damages caused by Puraam and Centerra Gold-mining companies:

IFC examines regulation of microfinancing and begins supporting introduction of best practices

Baku, Fineko/abc.az. The International Financial Corporation (IFC), entering into the World Bank Group (WBG), helps to improve the legislative and institutional environment for development of microfinancing in Europe and Central Asia that will enable increasing access to financing for microbusinessmen and population.

KYOCERA Supplies 305 kW of Solar Power to Villages in Mongolia

Part of World Bank Project to Improve Rural Living Conditions

World Bank project powers Mongolian villages with Kyocera solar modules

NYSE-listed manufacturer Kyocera has installed two solar power systems in separate Mongolian villages through the World Bank’s Renewable Energy for Rural Access Project.

Ivanhoe files counter-claims in dispute with Rio

* Ivanhoe says Rio breached terms of private placement deal

* Arbitration hearings scheduled for early 2011 (In U.S. dollars unless noted)

The Cabinet Announced 26 Projects in Four Priorities

Priority 1.
“Oyu Tolgoi” Project. Copper Concentrate Plant. Capable to process 100,000 tons of ore a day and 35 million tons of ore a year. The production capacity will be upgraded to 150,000 tons a day and 56 million tons a year.

S3 Investment Company CEO Travels to China and Mongolia for Meetings With Subsidiary Management and to Oversee Expected Closing of Redwood Capital Client Transaction

DANVILLE, Calif., Oct 26, 2010 (GlobeNewswire via COMTEX) -- S3Investment Company, Inc. /quotes/comstock/11i!sivc (SIVC 0.00, +0.00, +33.33%) today announced that Chairman and CEO Jim Bickel has traveled to China with planned stops in Mongolia and the Philippines to oversee activities of the company's Redwood subsidiaries, including the expected close of a Redwood Capital client transaction. Mr. Bickel will visit Beijing, Shanghai and Hong Kong, as well as Ulaanbaatar, Mongolia in support of Redwood Capital, Redwood Medical, the Redwood Private Equity Fund, and Redwood's newly formed Risk Investigation and Evaluation Division.

Chinese Sep coking coal import volumes hit eight-month high

September imports of coking coal into China hit their highest level in terms of volumes since January 2010, with 4.17 million mt imported, up 7.5% on August figures but 2.7% less than in September 2009, according to China customs data seen by Platts Tuesday.

Tuesday, October 26, 2010

MPs complain of too few kindergartens in the countryside

Members of the Government and representatives of Ministries and Agencies were present at yesterday’s meeting of the MPRP group in Parliament to answer questions or clarify points. The meeting discussed several issues, including the work implemented with MPs’ funds in their electoral districts. Lack of kindergartens is a major issue in many electoral districts. Many children born in 2007 have not been able to join a kindergarten this year as there is none near where they live in the countryside. Education Minister Yo.Otgonbayar said 38 kindergartens were opened this year and a USD12-million project to build many more is being discussed with the World Bank, and may be implemented before the start of the next school year. Many members felt there were not enough kindergartens in the outlying districts of Ulaanbaatar also.

Mongolia-Taiwan ties getting stronger

Tseng Y. Ming, head of the Taipei Trade and Economic Representative Office in Ulaanbaatar, talks about the prospects and willingness of Taiwan to contribute to the international community.

Turkey, Mongolia sign memorandum of understanding

Turkey and Mongolia signed a memorandum of understanding during the sixth term joint economic committee meeting in Ulan Bator on Tuesday.

Working for a Mongolian company

Recently, many foreign executives and professionals have joined Mongolian companies and state organizations. Of course, for them this article might not be so interesting. Nevertheless, if this trend continues, many new foreigners will soon join Mongolian organizations and companies.

Stronger MNT is bad for export, domestic producers

In recent days, the foreign exchange rate has been volatile, with the MNT getting stromnger. Director of Foreign Currency and Economic Board at the Mongol Bank, G.Delgermaa explains the situation.

Speaker meets DUMA delegation

Ulaanbaatar, Mongolia, /MONTSAME/ Parliament Speaker D.Demberel met Monday a delegation led by V.G.Maleyev, a head of the Russia-Mongolia parliamentary group at the State Duma of the Russian Federation (RF).

Mongolian painter hits record

Ulaanbaatar, Mongolia, /MONTSAME/ A painting named "Ox" by a Mongolian artist A.Chadraabal has been sold at 1.5 million British Pound (MNT three billion and 45 million) at London Stock Exchange (LSE). About this he was officially informed last Friday by the LSE.

Moody's Assigns Ratings to Tdb's Mtn Programme Notes

(Source: Info-Prod Research (Middle East))Moody's Investors Service has assigned a Ba3 rating to senior unsecured notes drawn under the USD300 million foreign currency Euro Medium Term Note (EMTN) programme of the Trade and Development Bank of Mongolia LLC (TDB).

SouthGobi Resources to Construct a Paved Highway in Southern Mongolia to Accelerate Delivery of Coal From Ovoot Tolgoi Coal Mine to Chinese Buyers

ULAANBAATAR, MONGOLIA, Oct 25, 2010 (MARKETWIRE via COMTEX) -- Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. /quotes/comstock/11t!e:sgq (CA:SGQ 12.00, -0.07, -0.58%) (sehk:1878), announced today that the company has awarded a US$48 million contract to build a paved highway dedicated to the delivery of export shipments from SouthGobi's Ovoot Tolgoi coal mine to the Mongolia-China border crossing at Shivee Khuren-Ceke.

PM S.Batbold: 10 percent of TT will be owned by citizens

Prime Minister S Batbold, held unofficial meeting on Saturday and discussed with the media about the works and tasks of the Government. He stated that the government had worked with great success during the space of one year and many important works are ahead of them. One of the important issues is the Tavan Tolgoi deposit and they have established Erdenes Tavan Tolgoi JSC as a daughter company of Erdenes Mgl who owns the licenses of TT. Erdenes Tavan Tolgoi is looking to release 15 billion shares. 10 percent of the shares will be distributed to all Mongolian citizens, another 10 percent will be sold to Mongolia private businesses and 30 percent of the shares will be sold in domestic and foreign stock markets. According to the pre-calculations 1.5 billion stocks will distributed to the citizens and another words 500 stock per capita.

SMG to establish a multi-disciplinary tertiary hospital in Mongolia

SINGAPORE - Singapore Medical Group Limited (SMG) today announced the intention to establish a joint venture for a flagship multi-disciplinary tertiary hospital in Ulaanbaatar, Mongolia, with Chono Corporation.

Monday, October 25, 2010

Growth in Mongolian GDP per capita to be higher than in China

Per capita income for Mongolians is expected to rise to USD5,000 within the next two years and to a staggering USD12,000 by 2015. To put that into perspective, that"s about what the average Shanghainese earns now. However, the increase per capita income will be faster in Mongolia.

Prime Minister receives Turkish Deputy Premier

Ulaanbaatar, Mongolia, /MONTSAME/ Paying an official visit, a delegation headed by Mr. Bulent Arinc, the Deputy Premier and State Minister of the Republic of Turkey, was received Monday by S.Batbold, Mongolia's Prime Minister in the Government House.

Mongolia represented at UNESCAP committee session

Ulaanbaatar, Mongolia, /MONTSAME/ A second session of the United Nations Economic and Social Commission for Asia and the Pacific's (UNESCAP) Committee on Social Development ran October 19-21 in Bangkok city, Thailand.

Mongolia-Sweden business meeting to run

Ulaanbaatar, Mongolia, /MONTSAME/ Mongolia-Sweden business forum dedicated to the spheres of mining, construction and infrastructure will run November 2-3 in Ulaanbaatar co-organized by the Embassy of the Kingdom of Sweden, the Center for Environmental Technology (CENTEC), the Swedish International Development Cooperation Agency (SIDA) and the Trade consul of Sweden in frames of the 20th anniversary of the Mongolia-Sweden cooperation.

Ivanhoe unit takes stake in Aspire Mining

Shares in Aspire Mining Ltd rose after an Ivanhoe Group company took a substantial stake in the junior coal explorer.

North Asia CEO sees Mongolia as a golden opportunity

Joseph King Jun-chih, 43 and an accounting graduate from the State University of New York, and a friend founded North Asia Resources, which was acquired by Green Global Resources in July last year. Green Global, which used to be an agricultural and information technology firm, appointed King chairman in March. A month later it reverted to the name North Asia Resources, focusing on mining. Since Green Global"s acquisition, North Asia has been busy in Mongolia which has large reserves of minerals.

Board reviews SME loan program

The Small and Middle Enterprise Board (SMEB) has just finished a review of the loan program in 21 aimags and Ulaanbaatar city. The review covered 365 economic entities which got a loan last year and 612 this year.

About 100 Mongolians spent USD7 million to buy MMC shares at Hong Kong IPO

After Energy Resources or Mongolian Mining Corporation (MMC) successfully traded its shares at an international stock exchange, questions have resurfaced if ordinary Mongolians can ever hold shares in companies that work here. D.Achit-Erdene, President of the Mongolian International Capital Corporation (MICC), answers our journalist’s questions on the issue.

World Bank says Mongolia’s recovery impressive and broad-based

The World Bank’s Quarterly Economic Update says Mongolia has staged an impressive recovery from the steep recession of late 2008 and early 2009. Moreover, the economic recovery is becoming broad-based. Strong demand for copper and coal from China are fuelling the recovery, and are also helping to substantially improve the external balance. And imports are up by 55 percent in August on a year-on-year basis. The exception is the agriculture sector, due to the devastating impact of the dzud during the winter months, which wiped out substantial numbers of livestock.

Merger Could Threaten Hong Kong Exchange

Hong Kong's stock exchange has had a great run. The news from Singapore should be a warning sign that it can't take its good fortune for granted.

Rio Tinto's Albanese: Mongolia project, mining talks to proceed

Rio Tinto Ltd's (ASX:RIO) will still pursue its planned Oyu Tolgoi copper and gold project in Mongolia despite some strain with Canadian partner Ivanhoe Mines.

Is Starbucks about to come to Mongolia?

Ulaanbaatar is abuuz with the excitement of the news that Starbucks might be coming to Mongolia.

Turkish Deputy Premier leaves for Mongolia

Bulent Arinc will participate in a meeting of Turkey-Mongolia Joint Economic Commission.

Rio Tinto seeks to speed up Mongolia copper and gold mine

RIO Tinto wants to speed up development of a copper and gold mine in Mongolia that's set to become one of the world's largest.

Laugh if you like, but Mongolia is a serious play

I’ve been talking up the imminent arrival of Mongolia as a hot new investing destination for years now, usually to hoots of derision.

From East Asia to North America, Marissa Maurer, a public affairs officer with the U.S. Embassy in Mongolia, traveled across continents to visit Western’s Mongolian Studies program

As a public affairs officer, Maurer does press and media work for the embassy and coordinates cultural programming, educational programs, lectures and scholarships, such as Fulbright scholarships for research exchange programs between the United States and Mongolia.

Friday, October 22, 2010

Get On Board with Mongolia Mining

The 3:00 am phone call was scratchy, broken, and barely intelligible. Would I be willing to accept a collect call from Ulan Bator, the capital of Mongolia? My man on the ground there was on the line with a stock idea that I absolutely had to get involved with. Mongolia Mining (975:HK) had just listed its shares on the Hong Kong Stock Exchange at $7, had already moved up to $8.30, and was headed for higher altitudes.

Mongolia to cash in on its vast resources

According to Renaissance Capital, the new gold rush to develop Mongolia's resources could make it the world's fastest-growing economy over the next 5 years, which projected gross domestic product would almost quadruple to USD 23 billion by 2013 from USD 6 billion.

Bank card network now has eight members

With the induction of Golomt Bank, Khas Bank, State Bank and Capitron Bank on Monday, bank card network now has eight members. Khan Bank, Trade and Development Bank, Capital Bank, and Ulaanbaatar City Bank were already members of the network set up in June. Non cash transactions now account for 50% of total bank transactions, and with the addition of new members, it will increase further.

Central exchange set up for minerals and mining resources

A Minerals and Mining Exchange has been set up, to act as a central entity to offer support to enterprises and individuals in the mining sector in their business, providing information to facilitate access to capital, trading partners, markets for mining products, better prices, supply chains, and to equipment. It will also coordinate trade and business activities in the sector so that entities can cooperate and reach a position of strength.

Mongolian Stock Exchange is small but has its own charms for local investors

The Mongolian Stock Exchange trades for 90 minutes a day out of a former movie theater, eking out daily turnover in the neighborhood of USD70,000. Although the benchmark index is up more than tenfold in four years, its total market capitalization hasn’t quite topped USD1 billion. It is a market suitable only for well-informed insiders and the craziest speculators, which may be part of its rogue charm. Beyond the vicarious thrill, Mongol mania shows what gets people excited these days. Mongolia’s sitting on a supposed treasure trove of untapped mineral riches, next door to mineral-craving China.

"Erdenes-Tavan Tolgoi" company established

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet made Wednesday decisions to establish the "Erdenes-Tavan tolgoi" incorporated company and to allot necessary money from the "Erdenes MGL" LLC for forming the new company's authorized capital. The incorporated company will be an associated company of the "Erdenes MGL" LLC.

Agricultural minister about third campaign results

Ulaanbaatar, Mongolia, /MONTSAME/ Minister of Food, Agriculture and Light Industry T.Badamjunai gave a report at Wednesday's cabinet meeting on results of the Third campaign for reclaiming virgin lands.

The millennium road works continuing

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet discussed Wednesday an issue of amendment to parliamentary resolution, made in September of 2001, on approval of directives for running the Millennium Road and Vertical Axis of Infrastructure. This will be submitted to parliament for consideration.

Size of payment for air pollution fixed

Ulaanbaatar, Mongolia, /MONTSAME/ The payment for air pollution will be one Togrog per one kilogram raw coal which is extracted by citizens and entities, in accordance with a decision made at Wednesday's cabinet meeting.

HIV-infected blood was not used for transfusion

Officials from the Ministry of Health and related organizations have denied rumors that 14 patients received transfusion of blood from an HIV-infected donor. Among those who spoke to journalists were N.Khurelbaatar, State Secretary of the Ministry; S.Tugsdelger, Chief of the Social Health Policy Implementation Coordinating Board; S.Enkhbold, Chief of the Information Control Research and Estimation Board; Kh.Surenkhand, Deputy Director of the National Center for Infectious Diseases (NCID); N.Gantumur, Chief of the HIV and AIDS Research and Observation Office at the NCID; and P.Ulaankhuu, Chief of the National Center for Blood Analysis.

Mongolia's mining boom

MONGOLIANS were until recently wont to describe themselves as “beggars sitting on a huge pile of gold”. The country has vast but largely untapped mineral deposits. Until recently wages were low and jobs scarce. Shoppers in Ulan Bator, the capital, were not spoilt for choice—unless they were in the market for dried meat, vegetables or furry hats.

The Ultimate Copper and Gold Mother Lode

For all the fanfare garnered by the world's largest gold miners, you might think they have a monopoly on the world's largest gold mines.

Mongolia delegation tours Surrey's 2012 Olympic venues

A delegation from Mongolia has toured sports facilities in Surrey as it considers where to base its nation's team during the 2012 London Olympics.

Petro Matad has lived up to expectations - Westhouse Securities

Mongolia-focused oil group Petro Matad (LON:MATD) may be able to extend the 2010 work programme, according to Westhouse Securities analyst David Hart.

Thursday, October 21, 2010

With new shares, EBRD owns 17.34% of Petro Matad

Petro Matad has completed issue of 3,367,003 new ordinary shares to the European Bank for Reconstruction and Development.

Mounting excitement among miners about Mongolia

Kell Nielsen has looked at between 80 and 100 mineral projects in the past eight weeks. That"s how it is in Mongolia these days. Nielsen, who heads Voyager Resources (VOR), knows the race is on between mining companies to lock up ground in Mongolia, which might be best described as the Next Big Thing in the resources world, says a report in The Australian.

Batbold to push open Mongolia’s doors to allow investment in

Prime Minister S. Batbold is dealing with an imposing challenge: raising the standard of living for his tiny population of three million people, says a report in the Financial Post, Canada. Mongolia has done almost everything possible to open its doors to outside investment in recent years, but Batbold is aware that a lot more needs to be done. The country is only 20 years removed from the days of Soviet control, and is still finding its feet as an established democracy.

MP. Kh.Badamsuren: JVC experiences shall be implemented in the cases of Oyu Tolgoi and Tavan Tolgoi

MP. Kh.Badamsuren, Vice Chairman of the Mongolian – Russian Federation Parliamentary Group and President of Mongolia – Russia Friendship Association shares his opinion on state involved JVCs.

Rio Blocking Ivanhoe Share Sale May Be Tough, RBC Says

Rio Tinto Group, building a $4.6 billion copper and gold mine with Ivanhoe Mines Ltd., may have difficulty in blocking Ivanhoe’s planned $1 billion share sale should it choose to do so, according to RBC Capital Markets Ltd.

Deputy Prime Minister of Mongolia in Surrey

The Deputy Prime Minister of Mongolia has visited Kingston to determine if his country should base its Olympic team in Surrey during the London 2012 Games.

Mongolian President Underscores Iran's Int'l, Regional Importance

TEHRAN (FNA)- Mongolian President Tsakhia Elbegdorj in a meeting with Iranian accredited Ambassador to Ulaanbaatar Mehdi Safari pointed to the significant role played by Iran on the international and regional scenes, and underlined his country's readiness to expand ties with Tehran.

Wednesday, October 20, 2010

Figures show economy is improving

The data on social and economic indicators announced by the National Statistics Office give encouraging hope that Mongolia is coming out of the recession and the economic crisis. Some selected indicators are given below.

Stock exchange reform is inevitable and essential

Russian funds made a hoopla out of the leading RTS index giving the Chinese stock market a drubbing over the last decade, returning five times as much, or a bit more than 750%. But they go quiet when you mention Mongolia, the best performing market in the world over the last decade, up a bit more than 1,600% over the same period, says a Business News Europe analysis.

Mongolians win medals in sumo world championships

Ulaanbaatar, Mongolia, /MONTSAME/ The Amateur Sumo World Championships took place October 16-17 in Warsaw, Poland. Mongolia was represented there by 18 male and female sumoists.

Konrad Adenauer foundation will continue to train staffers

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet secretariat of Mongolia's Government will continue co-operating with Konrad Adenauer Foundation of Germany. On Tuesday, the sides inked a related memorandum to prolong the cooperation memorandum that was concluded in 2007.

Taiwanese charity group helps Mongolian children combat poverty

Taipei, Oct. 19 (CNA) Since the Taiwan Fund for Children and Families (TFCF) opened its first overseas branch in Mongolia in 2004, positive results have been achieved in helping poverty-stricken children and families there escape their plight.

Hunnu Coal to raise $40 million to accelerate Mongolian coal projects

Hunnu Coal Limited (ASX: HUN) has announced the raising of $AUD40 million through a placement to institutional and sophisticated investors to accelerate the exploration and development of the Company’s coking and thermal coal projects in Mongolia.

Ghana, Mongolia Extractive Industries Meet ‘Compliant’ Standard

Mongolia and Ghana received “compliant” status from the Extractive Industries Transparency Initiative, a corporate, civil society and government-composed group devoted to increasing financial disclosures in the oil, gas and mining industries.

SouthGobi Resources Announces Sales and Operations Update

HONG KONG, CHINA, Oct 19, 2010 (MARKETWIRE via COMTEX) -- Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. /quotes/comstock/11t!e:sgq (CA:SGQ 10.32, +0.16, +1.58%) (sehk:1878), today provides an update on sales, operations and announces personnel changes.

DJ Leyshon Resources Continues To Review Investment Opportunities

Leyshon Resources Ltd. (LRL.AU), an Australian gold mining company, said Tuesday that during the September quarter it continued to review, and is continuing to undertake due diligence, on a number of project investment opportunities, some of which have the potential to meet the Company's investment criteria.

Miner claims Ivanhoe proposal breaches agreed obligation

RIO Tinto has threatened to block a proposed $1 billion rights issue by its Canadian partner in Mongolian copper, Ivanhoe Mines.

Hunnu Coal Completes A$40M Placement

Hunnu Coal Limited (ASX:HUN) announced today its firm commitment from subscribers to participate in the placement through an issue of 50 million shares at 80c to raise A$40 million before costs.

Tuesday, October 19, 2010

Mongolia’s statehood to mark 2220th anniversary

President of Mongolia Elbegdorj Tsakhia has issued a Decree to commemorate the 2220th anniversary of the First Mongolian State and provided directives to the Government associated with this major undertaking.

Macao, Mongolia Ink Pact on Fight against Human Trafficking

Macao and the Republic of Mongolia have signed an "agreement on cooperation to combat trafficking in persons", the Macao Post Daily reported on Tuesday.

President nominates new Deputy Prosecutor-General

The President has nominated Ts. Byambatsogt to be the new Deputy Prosecutor-General, in succession to B.Tserenbaltav who resigned on Thursday. Parliament will now discuss and approve the appointment.

Finance Minister explains bond sales

Following a demand from S.Byambatsogt in Parliament on Friday, Minister of Finance S. Bayartsogt said the Government has sold bonds worth MNT1 trillion and 720.7 billion since 2002. Until 2006, the aim was to raise money, but from 2007 the imperative shifted to plugging the budget deficit. Bonds for MNT270 billion were offered in 2009. Another MNT60 billion worth of bonds was sold to raise money to implement the 4000 Apartments program, to prop up both the construction and the banking sector.

Booms come together to help Mongolia open a national bourse

Mongolia is on the verge of opening a new national stock exchange. The market will finally plug the landlocked nation into the grid of global finance, facilitating privatizations, investment and the flow of capital to would-be entrepreneurs among its three million people. And the money almost certainly will flow, says a report in The New York Times. Renaissance Capital reckons Mongolia’s economy, while small at around USD6 billion, will be the world’s fastest growing over the next five years, increasing to USD23 billion by 2013. Handling that growth will be a big challenge.

Mongolia a cornucopia of untouched natural resources

The hill that runs along the side of Ulaanbaatar is still covered with gers, the nomadic tent houses that have been used for millennia by the peoples of the steppe, says Business News Europe. Some stand in the lee of the power station on the hill and the wires overhead crackle with electricity. The number of tents has actually increased this year following a "dzud" winter in 2009, the Mongolian term for an extremely snowy winter where the livestock can"t find food. Many of the new arrivals lost up to a third of their animals, slaughtered the rest and moved to UB - as the locals call the capital - to look for work.

Mongolia Mining targeting new coal and iron ore assets

Mongolia Mining Corp. is looking out for acquisition targets in the Mongolian resources sector following an initial public offering in Hong Kong raising USD650 million, according to its top executive. Executive Chairman J. Odjargal said the company "will focus more on coal and iron ore" in identifying potential targets. "A major criterion will be proximity to the Mongolian-Chinese border," he said.

Battle in Mongolia takes ugly new twist

TORONTO — The rift between Ivanhoe Mines Ltd. and Rio Tinto Ltd. continues to widen as the two miners fight over how the massive Oyu Tolgoi copper-gold project in Mongolia should be controlled, financed and developed.

Parliamentarians meet Canadian business delegation

Ulaanbaatar, Mongolia, /MONTSAME/ A head and a member of parliamentary Mongolian-Canadian group R.Bud and B.Bat-Erdene met Monday a Canadian delegation led by David Anderson MP and Dien Allyson.

CEO of State Bank has changed

Due to contract term termination, Mr. Ben Turnbull, CEO of State Bank of Mongolia, was stepped down from his position last week. Mr. Ben Turbull worked as CEO since State Bank established on November 2009.

Human Development Fund will ease debts for herders

The government is producing a draft law to ease the credit pressure on herders by using the Human Development Fund.

D.Batkhuyag, Head of MRA: License issuance suspension is better to be continued

As of February of 2009, 5187 companies were conducting exploration works in 48.2 million hectare area of Mongolia, but as of October 5 2010, it has decreased almost twofold, down to 26.5 million hectare (16.9% of the Mongolian territory). MRA wanted to reject hearsay of that over 90% of the Mongolian territory went into the hands of foreigners. 3114 licenses were issued for 26.5 million hectare areas. MRA increased its measures and cancelling 53 licenses of 39 companies, because of their annual report failure to meet with the minimum expenditure stated in the law.

Sharyn Gol JSC Appoints New Chief Financial Officer

ULAANBAATAR, MONGOLIA--(Marketwire - October 18, 2010) - Sharyn Gol JSC is pleased to announce that Mr. David Dring has been appointed as Chief Financial Officer of the Company.

Ivanhoe offering may raise tensions with Rio Tinto

* Rio may take legal action to block rights offering

* Friedland to replace John Macken as CEO of Ivanhoe

* Ivanhoe shares down 2.4 percent on the NYSE (Adds details on rights offering; share price move; in U.S. dollars unless noted)

Human trafficking to Macau a concern for Mongolia

Mongolia’s State secretary for Foreign Affairs and Trade, D. Tsogtbaatar, has acknowledged that there have been cases of trafficking of Mongolian citizens to Macau, but the Mongolian authorities lack relevant clear statistics.

Ivanhoe Mines Initiates Strategic Rights Offering Open to All Shareholders on a Dilution-Free, Equal Participation Basis

Financing Will Support Progress Toward Early Start-Up of Oyu Tolgoi Copper-Gold Complex in Mongolia

Ban on mineral licenses ends on December 1

Following an initiative from President Ts.Elbegdorj issue of all mining licenses has been suspended until December 1.

Monday, October 18, 2010

Manas Petroleum Corp. Begins Seismic Program in Mongolia

BAAR, SWITZERLAND, Oct 18, 2010 (MARKETWIRE via COMTEX) -- Manas Petroleum Corporation /quotes/comstock/11k!mnap (MNAP 0.52, +0.01, +1.94%) ("Manas") is pleased to announce the start up of seismic operations on Blocks XIII and XIV in Mongolia as planned for the year 2010, and is anticipated to be completed by November 2010. All operating licenses and permits have been received and the contractor's personnel and equipment are on site. This program includes 300 km of 2D seismic survey which represents the required work program for the year 2011 in accordance with the terms of the Production Sharing Contract.

Mongolia to pay Russia USD3 million as final settlement of dues

Talking of Mongolia’s monetary debt to the Soviet Union and its successor state, Russia, Minister of Finance S.Bayartsogt said on Friday that it was computed in 2003, based on exchange parity between the MNT and the rouble, that between 1949 and 1991 Mongolia had borrowed MNT9.6 billion and the interest on it was MNT2.2 billion. The total to be repaid thus stood at MNT11.8 billion.

Mongolian credit unions get help from Manitoban

Ken Doleman is hoping to initiate about 50 years worth of time travel in Mongolia.

Petro Matad Exploration and Drilling Update

October 18 (Petro Matad) Petro Matad (AIM:MATD) is pleased to provide an update on its exploration and drilling activities on the Davsan Tolgoi Prospect on Block XX in Eastern Mongolia.

Mongolia’s El Dorado stirs shareholder battle

In Mongolia’s South Gobi desert lies Oyu Tolgoi, touted as having the world’s largest untapped copper and gold deposits. Little wonder then that this “El Dorado” has become a boardroom battleground between the relatively unknown Ivanhoe Mines and its biggest shareholder, the giant Australian mining company, Rio Tinto.

Hong Kong forum focuses on investment in specific projects

A high-power Mongolian team was in attendance as The Mongolia Investment Summit-2010 in Hong Kong was inaugurated yesterday. Its members included D.Zorigt, Minister of Mineral Resources and Energy; Ts.Bayarsaikhan, Chief of the Standing Committee on the Economy; MP O.Chuluunbat; Z.Batkhishig, the Deputy Chief of the Foreign Investment and Foreign Trade Agency (FIFTA); Jim Dwyer, Executive Direrctor of the Business Council of Mongolia; senior officials of several financial and mining companies, including Khan Bank, Golomt Bank, Mon Atom, Mo En Ko and others.

China gets most of its raw molybdenum from Mongolia

Mongolia was China’s top source of unprocessed molybdenum ore in August, the latest figures from the General Administration of Customs of China show.

Monetary policy does not have many options

As Parliament gets ready to discuss the monetary policy, the Mongol Bank President has revealed several encouraging figures. Money supply has reached MNT3.6 trillion, rising 42.6% over last year; foreign currency reserve has reached USD1.6 billion, 21.1% more than in 2009; bank deposits have risen considerably. The Central Bank will continue with measures to increase the foreign currency reserve. He also said the stronger MNT will not be a worry until 2013, when exports from Oyutolgoi and Tavantolgoi will begin. The bank will take all appropriate measures to make Mongolian exports competitive. The National Development and
Innovation Committee has also considered the matter.

Forum stresses urgent need to create jobs

A meeting on Thursday in Government House discussed several issues related to labor, a vital sector in development, according to speakers. The International Labor Organization has said that the rapid growth in the Mongolian economy between 2002 and 2008 did not generate enough jobs for the growing working age population.

Mongolians exchange ideas with London

Snuggled at the feet of the Great Khural government office, an old soviet cinema is home to Mongolia's Stock Exchange and opens its doors for an hour a day to host the slow trickle of brokers making their way to work. The candy-pink paint job is a deceptively lively mask for the dearth of activity inside, where a huge hall echoes any time a trade is made.

Sports officials to go to London

Ulaanbaatar, Mongolia, /MONTSAME/ In frames of activities of Mongolia's National Committee for Olympic Preparation, sports authorities will go to London, UK, on October 18.

Mongolia and China: Boundary markers on lake Buir

Ulaanbaatar, Mongolia, /MONTSAME/ A plenary meeting of parliamentary session held Thursday made a decision on whether to discuss a draft law on ratifying an inter-governmental treaty between Mongolia and the People's Republic of China on the Mongolia-China boundary regime.

D.Demberel received IMF's officials

Ulaanbaatar, Mongolia, /MONTSAME/ The Parliament Speaker received Sunday Mr. Steven Barnett, the International Monetary Fund (IMF) Mongolia Mission Chief, and Mr. Parmeshwar Ramlogan, the Resident Representative of the IMF to Mongolia. They have shared views on implementation of the Stand-By program which was completed this October.

Mongolia closer to anti land-mine Convention membership

Jordan’s Royal Highness Prince Mired Bin Raad Al-Hussein of Jordan is encouraging Mongolia to accelerate its progress toward membership in the international treaty banning antipersonnel mines, and to destroy its existing inventory of these weapons.

Population and Housing Census starts November 11

From November 11-17, the Population and Housing Census, conducting once each decade, under the recommendation of UN, will run throughout the nation.

Mongolia Country Specific Information

Oct 15, 2010 (STATE DEPARTMENT RELEASE/ContentWorks via COMTEX) -- October 14, 2010 COUNTRY DESCRIPTION Mongolia is a vast country of mountains, lakes, deserts, and grasslands. It is approximately the size of Alaska. Since 1990 Mongolia has been successfully ctransitioning into a parliamentary democracy. Economic reforms continue, although the country's development will depend on considerable infrastructure investment, particularly in the mining, energy, transportation, and communication sectors. You should be aware that shortcomings in these areas could affect your travel plans. Read the Department of State's Background Notes on Mongolia for additional information.

Joint Statement by Mongolia’s Minister of Finance, Governor of Mongolbank, and IMF staff Mission to Mongolia

On the occasion of the successful completion of Mongolia's Stand-by Arrangement (SBA) with the International Monetary Fund (IMF), H.E Bayartsogt Sangajav, Minister of Finance, H.E Purevdorj Lkhanaajav, Governor of Mongolbank and Mr. Steven Barnett, the IMF’s mission chief for Mongolia, made the following joint statement:

Mongolian debt, copper mining a play on Chinese construction, consumption

Back in June Batbayar Balgan, director general of the financial and economic policy department of Mongolia, spoke of the country's plans to raise $500 million selling bonds in 2010, while the remainder of a planned $1.2 billion program would be sold according to market conditions. Bloomberg notes that the government scaled back its plans for global bond sales after Europe's debt crisis drove up borrowing costs, and that investment banks have been advising Mongolia to issue debt with maturities of 5 years to 10 years. Per the country's Finance Minister, Sangajav Bayartsogt, said securities may yield between 8 to 11 percent.

Overseas Mongolians and local Mongolians

The government of Mongolia has an ambitious program to bring back bright, talented Mongolians, who are working and living in the USA, Japan and other countries.

New rotation of Mongolian Soldiers transfer authority in Kabul

CAMP EGGERS, Afghanistan – A new rotation of about 200 soldiers from the Mongolian Expeditionary Task Force III transferred authority Oct. 15 from the previous contingent on Mongolian forces serving in Kabul, Afghanistan, during a change-of-command ceremony at Camp Eggers.

Friday, October 15, 2010

Chile mining echoes on Mongolian steppes

Hong Kong, China (CNN) -- As the last of 33 trapped miners were pulled to the surface in Chile, a group of bankers, government officials and mining company executives gathered to talk about the coming minerals explosion in Mongolia.

Mongolian Museums Join World Museums

Mongolian five museums including the National Museum, the Zanabazar Fine Arts Museum, the Theater Museum, Choijin Lama Monastery Museum and Modern Art Gallery are included in Fund of Masterpieces from the World’s Museums, under the project of “Virtual Collection of Masterpieces”.

Three foreign candidates were shortlisted for Erdenes Tavan Tolgoi CEO

Establishment of Erdenet Tavan Tolgoi LCC was included in the last Cabinet Meeting agenda, but it was postponed until the next meeting. The Government prefers that Erdenes Tavan Tolgoi LLC shall be led by a professional with rich working, international fund-raising and professional experience. Therefore, it pays much attention on the selection of candidates.

Business environment stable but not favorable

The Open Society Forum yesterday announced the results of this year’s survey of economic freedom and the business environment in Mongolia, an annual exercise it has undertaken since 2005. P.Enkhjargal, Executive Director of the Open Society, led the discussion, and Ch.Narantuya, N.Bolor and B.Tuvshintugs, all from the Economics faculty of the Mongolian National University, presented main parts of the report.

Mongolia is resource-rich, but its people remain poor

Mongolia, one of the poorest countries in Asia, is in the sights of foreign investors looking to cash in on the landlocked country"s bounty of natural resources, including vast untapped mineral deposits. Luxury brands including Louis Vuitton and Burberry have opened boutiques on Ulaanbaatar"s Sukhbaatar Square, which is also home to the country"s parliament. Hummers and European sports cars are commonly seen on the pot-holed streets.

13 companies take part in Boroo Gold’s mine safety contest

A total of 13 teams participated in the recent annual mining safety competition organized by Boroo Gold LLC in its mine site. Called Rescuer, the competition has been held every year since 2006, with the aim of testing and updating the skills and competence of mine rescue teams, introducing new technology, and allowing competitors to exchange their experiences.

Chinggis Hotel joins international hotels group

Chinggis Khaan Hotel has joined Summit Hotels & Resorts, a brand of Preferred Hotel Group.

“Health” to be implemented in two phases

The Government meeting yesterday approved the national program Health that aims to increase the average life expectancy, to take health services to international standards and to encourage adoption of a healthy lifestyle.

D&B establishes JV with CIB

Ulaanbaatar, Mongolia, /MONTSAME/ The Dun and Bradstreet of the USA (provider of credit information on businesses and corporations), and the Credit Information Bureau, LLC (CIB) of Mongolia have signed a Memorandum of Understanding (MoU) to establish the first private credit information service provider in Ulaanbaatar, the U.S Embassy in Mongolia said Thursday.

Research and Markets: Equity Research: Ivanhoe Mines Ltd - A Comprehensive Report on the Company

Ivanhoe Mines is a Vancouver based mining company whose primary focus is the exploration, development and operation of mineral projects around the world. Ivanhoe was formerly known as Indochina Goldfields before changing its name to Ivanhoe Mines Ltd., in 1999. The firm has many interests around the world, and its largest project is the Oyu Tolgoi copper and gold project in the South Gobi region of Mongolia. The Oyu Tolgoi project is the worlds largest undeveloped reserve of copper deposit.

Prophecy Resource Corp. Announces Mine Commission Inspection Complete at Ulaan Ovoo in Mongolia; First Coal Shipment to Power Plant in Progress

VANCOUVER, BRITISH COLUMBIA, Oct 14, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy (CA:PCY 0.66, +0.11, +20.00%) (otcqx:PRPCF)(frankfurt:1P2) announces that an official government commission appointed by the Mongolian Ministry of Mineral Resources and Energy conducted the final permit inspection at Prophecy's Ulaan Ovoo mine site on October 4, 2010.

Rio Tinto Copper, Gold Mine Battle Heats Up

NEW YORK (TheStreet) -- As 33 trapped miners are being hoisted out of San Esteban's copper and gold mine Chile, a power struggle is brewing in the sector. Global miner Rio Tinto ADR (RTP) has set out to control a Canadian company, Ivanhoe Mines (IVN_). Similar to the BHP-Potash feud, this battle looks heated ... and with good reason.

Peter Ramsauer, Minister for Transport, Construction and Urban Development of Federal Republic of Germany: Mongolian coal and other mineral will be exported to EU

P.Ramsauer: During the meeting I expressed my belief in the increase of export from Mongolia to EU. Coal and other minerals will be exported. Railway transportation is best for these minerals. Therefore, both sides agreed to focus on this field. Consequently, we talked about possibilities of building railroad from Mongolia to EU through Russia, as part of the development of infrastructure and railway.

S3 Investment Company Announces Expansion of Redwood Subsidiary Services to Include Risk Investigation and Evaluation Division

DANVILLE, Calif., Oct 13, 2010 (GlobeNewswire via COMTEX) -- S3Investment Company, Inc. /quotes/comstock/11i!sivc (SIVC 0.00, +0.00, +50.00%) today announced that the company's Redwood Group International subsidiary has formed a risk investigation and evaluation division as part of Redwood's overall company subsidiary expansion, which is designed to increase its revenue streams and provide additional synergistic services to clients in the greater China region, including Mongolia. The Redwood subsidiary expansion has included the opening of new offices in Ulaanbataar, Mongolia and Hong Kong as well as the establishment of the Redwood Asia Fund LP, a private equity fund which was formed to facilitate faster capital response to the financing needs of Redwood Capital clients and greater participation in clients' future growth.

Meritus announces non brokered private placement

Vancouver, B.C.: Meritus Minerals Ltd. (TSX-V - MER) (the "Company") announces it will be conducting a non-brokered private placement of up to 2.6 million units ("Units") at a price of $0.25 per Unit to raise proceeds of up to $650,000. Each Unit will consist of one common share and one a share purchase warrant with each warrant entitling the holder to acquire one additional common share at a price of $0.35 per share for a period of one year from closing (the "Unit Warrants"). The Unit Warrants are subject to the right of the Company to accelerate the exercise period for the Unit Warrants if the common shares of the Company trade above $0.50 for a period of 10 consecutive days.

Thursday, October 14, 2010

Entrepreneur stresses need to diversify

M. Davaasuren, General Director of Gan Khiits, told a recent seminar on the Mongolian industrial scene, that individual sectors in the country were too small and companies have to diversify to expand, if not just to survive. His company began with construction, but has now achieved success in several other fields. It has supplied metal designs and the workforce to install them in the tallest building coming up in Ulaanbaatar. It also builds all kinds of electricity tower bases and is now responsible for meeting 25% of the demand in Mongolian. It also wants to produce something for the individual consumer, and edible mushroom, sold under the brand name Husandai, is grown year round.

Oyu Tolgoi Copper Mine Spending to Be More Than $5 Billion, Rio Forecasts

Rio Tinto Group, the world’s third largest mining company, said capital spending on the Oyu Tolgoi copper project in Mongolia is likely to be greater than $5 billion.

Aspire Mining Limited (ASX:AKM) Announces New Major Mongolian Coal Resource At 100% Owned Ovoot Coking Coal Project

Aspire Mining Limited (ASX:AKM) Announces New Major Mongolian Coal Resource At 100% Owned Ovoot Coking Coal Project

Community approach helps nomads solve harsh ecological issues

The Altai Mountains in the extreme west of Mongolia are harsh, daunting and offer views of tremendous grandeur — sweeping grasslands overseen by snow-capped peaks, milky rivers that derive their startling color from glacial meltwater, and immense lakes that are crisp, clean mirrors reflecting vast and turbulent skies.

Bank of Mongolia Said to Plan $150 Million, 3-Year Bond Sale

Oct. 14 (Bloomberg) -- Trade & Development Bank of Mongolia LLC plans to sell $150 million of three-year notes, according to a person familiar with the matter who asked not to be identified as details are private.

Meritus continues drilling in Mongolia

Vancouver, B.C. Meritus Minerals Ltd. (the "Company") (TSX-V - MER) announces that its previously announced drill program at its property at Gutain Davaa, Mongolia continues on schedule. The Company announced assay results on September 20, 2010.

French minister visits Mongolia to promote nuclear energy cooperation

Visiting French Minister of State for foreign trade Anne-Marie Idrac started a two-day visit to Mongolia to seek bilateral cooperation in nuclear energy Wednesday.

Powder River Basin coal model goes global

LARAMIE -- A Peabody Energy executive says Wyoming's Powder River Basin model for mining coal should be applied in nations around the world in order to lift growing populations out of poverty and to further advance economies of developed nations.

From January, every citizen will get MNT 21,000 per month

Minister of Finance S. Bayartsogt has said the draft budget for 2011 may not have a smooth passage in Parliament as it has been proposed in compliance with the new Fiscal Stability Law and may not meet traditional expectations. However, it also reflects the fact that Mongolia is coming out of the crisis and that its economy is rapidly developing. If all goes as envisaged, the budget will henceforth be responsible for providing funds for public service, while finance for economic development will come from the Development Bank.