Friday, September 30, 2011

Emergency Commission discusses power outages, harvest

The State Emergency Commission held a meeting on Friday to discuss the continuing power problems in the northern part of the country and the harvest.

Government to deliver 2012 budget proposal to MPs

The Government will deliver the proposed 2012 budget to MPs after an unofficial meeting on Friday. By law, a budget must be delivered annually to MPs before October 1.

Officials convicted of corruption, sentenced to four years

A Khan-Uul district court convicted two former state officials of corruption on September 29, and sentenced each to four years in prison.


Ulaanbaatar, Mongolia /MONTSAME/ A delegation led by S.Bayar MP, a former Prime Minister has participated in a forum of the International Day of Peace annually organized by the United Nations (UN), in Shenyang and Dalian cities.

The Legislative Process in Mongolia

The Ikh Khural (parliament) is the sole legislative body.

Resources Available to Mongolian MPs

Parliaments around the world differ significantly as to the resources that they make available to individual MPs to support their parliamentary work, but also to serve their constituencies.

MPs Petition to Renegotiate OT Agreement

Over the last several days (late Sept. 2011) there have been quite a number of articles in the press outside of Mongolia about a petition that was submitted to the Prime Minister of Mongolia by 20 MPs demanding a renegotiation of the Oyu Tolgoi investment agreement and more specifically demanding that the government pursue a 50% ownership stake.

OT: In Danger of Becoming A Hostage in Domestic Politics, Again

In 2005, Ivanhoe’s Robert Friedland’s infamous statement about the huge profits to be made in Mongolia at an investor conference in Florida delayed his deal with the Government of Mongolia over one of the biggest copper deposits in the world, Oyu Tolgoi (OT).

Resource Nationalism on the Rise

When it comes to commodities, diamonds may be a girl’s best friend, but governments aren’t as picky. With the recent posturing of the Mongolian government to rewrite the investment agreement with Vancouver-based copper and gold miner Ivanhoe Mines Ltd. (TSE:IVN), investors are fearful that “resource nationalism” will make mining companies a losing bet.

Mongolia puts politics ahead of business on giant copper deal

Mongolia’s quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.

How High Rare-Earth Prices Can Be Magnetic

China is trying to make itself magnetic to industrial consumers of rare-earth elements, and it may attract a key customer.

Petro Matad set to reassess data after completing latest well in Mongolia

AIM quoted Mongolian oil explorer Petro Matad (LON:MATD) has wrapped up the 2011 drilling campaign on its Davsan Tolgoi prospect on Block XX by completing well DT-11.

Mongolian Stock Exchange: getting there slowly

Mongolia may be one of the most popular investment destinations for resources funds and miners today. But this year the Mongolian Stock Exchange index has tanked – plummeting 40 per cent from a high in February – even as investors continue to bet on the growth of this largely nomadic, resource-rich country.

Mongolia hands it to a cast of neighbors

ULAN BATOR - Before embarking for the United States, Mongolia's President Tsakhiagiin Elbegdorj sat down with the Washington Post for a charm offensive, at least in terms that Mongolians understand: dispensing comparisons to Genghis Khan that they, at least deem flattering.

CW-GP to send 200,000 letters to citizens

The Civil Will and Green Party announced on Thursday that it intends to send letters to 200,000 citizens to present the party’s platform and to solicit opinions.

MP questions PM about Development Bank

On Thursday, MP R.Amarjargal sent an official note to Prime Minister S.Batbold about plans by the Development Bank (DB) to issue bonds.


Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, a Vice Speaker N.Enkhbold received Mr. Peter Scheller, the Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany to Mongolia.


Ulaanbaatar, Mongolia /MONTSAME/ A forum of Mongolians themed "Our participation in development of motherland" will take place from September 29 through October 2 in Berlin, Germany.


Ulaanbaatar, Mongolia /MONTSAME/ An opening ceremony of the line “Internet flow connected through Asia and Europe” has been attended by S.Batbold, the Prime Minister on September 28.


Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, head of the Cabinet Secretariat of Government Ch.Khurelbaatar gave a report to cabinet members an implementation course of the “New Great Construction” middle-term program.


Ulaanbaatar, Mongolia /MONTSAME/ A meeting has been organized in the Ministry of Foreign Affairs with business representatives of some 20 German companies engage in business and legal advice, IT, financial service, urban planning, mining, metallurgical industry.

Mongolia's Mining Contract "Redo" Has Risks & Rewards - Analysts

Mongolia's quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.

Korea Courts Central Asia

Times are changing in Seoul. Over the past decade, South Korea’s diplomatic and business clout has surged and presented a formidable challenge to the pre-eminence of global powers in Asia, Europe and the Americas.

China Pursues Aggressive Expansion of Coal Products

With world oil prices on a rollercoaster ride lately, the Chinese are more determined than ever to lessen their dependence on the precious commodity and exploit their abundant coal reserves.

Toshiba goes to Kazakhstan for rare metals

Following its agreement last year with the President of Mongolia to secure a supply of rare metals, Toshiba has set up a rare metal jv with Kazatomprom, the Kazakhstan state company which oversees its nuclear industry.

Copper Rout Outpaces Analysts Focused on Production Shortages: Commodities

The biggest rout in copper since the global recession drove analysts to cut their price forecasts by 16 percent in a week as mounting concern about growth eroded expectations for supply shortages.

Thursday, September 29, 2011

Ivanhoe shares bounce back

Ivanhoe Mines Ltd. rose 16 percent on Tuesday, after Rio Tinto Group, its partner in the Oyutolgoi project, increased its stake in Ivanhoe to 49 percent. That’s Ivanhoe’s biggest rise in more than two years.

One Democracy, DP hosting forum on draft election law

The One Democracy association and members and supporters of the DP will hold an open forum on the draft election law that Parliament will debate in the upcoming session.

B.Munguntuul competes in European Club Cup

Grandmaster B.Munguntuul is taking part in the European Club Cup, which is being held in Rogaska Slatina, Slovenia, from September 25 to October 1, 2011.

Latest harvest numbers announced

According to Ministry of Food, Agriculture and Light Industry spokesperson G.Odonkhuu, farmers in Mongolia have harvested 342,000 tons of wheat, 174,300 tons of potatoes, and 88,500 tons of vegetables.

Mongolian Red Cross to discuss goals, strategies

The Red Cross Society of Mongolia is holding a meeting of its partner organizations and international donors in the Government House on September 29.

Finance Minister proposes revised 2011 budget

On Wednesday, Finance Minister S.Bayartsogt submitted to Speaker D.Demberel proposals to revise the 2011 budget, the social insurance budget, and the Human Development Fund budget.

Road from Ukhaa-khudag to Gashuunsukhait opens

Energy Resource LLC recently completed 245 km of new road between Ukhaa-Khudag and Gashuunsukhait, and the state commission has officially opened the road.


Ulaanbaatar, Mongolia /MONTSAME/ Opening ceremony of the "Autumn Green Days 2011" annual measure ran Monday on the Central Stadium of Ulaanbaatar.

A Mongolian Cautionary Tale

Challenges and opportunities faced by Mongolia in dealing with the influx of foreign entities. Mongolia is quickly becoming an “Eldorado” destination for many foreign investors.

Copper plunges to 14-month low

Copper collapsed to its lowest close in 14 months on Wednesday as trepidation ahead of a German vote to beef up the euro zone’s rescue fund ignited another severe sell-off in commodities.

Mongolia puts politics ahead of business on giant copper deal

ULAN BATOR, Sept 29 (Reuters) - Mongolia's quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.

Rare Earths Fall as Toyota Develops Alternatives

Rare-earth prices are set to extend their decline from records this year as buyers including Toyota Motor Corp. (7203) and General Electric Co. (GE) scale back using the materials in their cars and windmills.

Allmine Group scores $4.6m engineering contract for gold project in Mongolia

Allmine Group (ASX: AZG) subsidiary Arccon has entered into a contract valued at $A4.6 million with QGX Golden Hills to provide engineering, design and procurement services for the Golden Hills gold heap leach project in northwestern Mongolia.

U.S. Ambassador discusses Peace Corps in Mongolia

The following statement was issued by United States Ambassador to Mongolia Jonathan Addleton on the occasion of the 20th anniversary of the arrival of the Peace Corps in Mongolia.

Mongolian boxers off to good start

Mongolian boxers are off to a good start at the AIBA World Boxing Championships in Baku, Azerbaijan.

Heavy snow cuts power in some areas

Heavy snow Tuesday night and Wednesday morning knocked out power in parts of Darkhan-Uul aimag.


Ulaanbaatar, Mongolia /MONTSAME/ The Minister of Finance S.Bayartsogt submitted Wednesday to the Speaker draft amendment to the law on state budget for 2011, draft amendment to the law on budget of social insurance fund for 2011, and draft amendment to the law on budget of Human Development Fund (HDF) for 2011.


Ulaanbaatar, Mongolia /MONTSAME/ The Parliament Speaker received Wednesday Mr. Kidokoro Takuo, the Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia, in conjunction with completion of his diplomatic mission.


Ulaanbaatar, Mongolia /MONTSAME/ The Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia Mr. Kidokoro Takuo signed Wednesday a contract on implementing a project to improve training quality of secondary school lessons on natural sciences.

Copper’s sustainable price between $8,00 and $8,500 – Standard Bank

A strong sell off across the commodities complex has pushed copper prices down significantly but, Standard Bank’s Walter de Wet says, fundamentals remain positive for the metal.

Ivanhoe Soars After Rio Tinto Raises Stake to 49 Percent

Ivanhoe Mines Ltd. rose the most in more than two years after Rio Tinto Group, its partner in a gold and copper mine in Mongolia, increased its stake in the Canadian company to 49 percent.

Rio Tinto pays Can$73 million for 49% of Ivanhoe Mines

Rio Tinto (NYSE:RIO) announced today that it paid Can$73 million for 49% of Ivanhoe Mines.

Ivanhoe Mines Stock Soars (IVN)

NEW YORK (TheStreet) -- Shares of Ivanhoe Mines (NYSE:IVN) have taken a tremendous swing upward. The stock is trading at $17.75 as of 3:05 p.m. ET, 22% above Monday's closing price of $14.55.

Kuwait, Mongolia agree on media expertise exchange

KUWAIT: Senior Kuwaiti and Mongolian officials yesterday agreed on an exchange program of media and information expertise, to be undertaken as a further expression of the two nations' wish to strengthen the friendly relationship that binds the peoples of both countries.

Mongolia's high plains herders warily eye coal truck road

(Corrects to U.S. Academy of Natural Sciences in penultimate paragraph)
* Road to open next month, cut delivery time for coal shipments
* Herders face rapid change to pasture land, way of life

Wednesday, September 28, 2011

Mongolian tourist camps unveil unified website

Solid Ways Travel Agency on Tuesday unveiled a new website that brings together more than 50 tourist ger camps.

Parliament might be getting bigger

A group of MPs says it will submit a draft law to Speaker D.Demberel that would increase the number of MPs from 76 to 99.

U.S. Ambassador discusses Peace Corps in Mongolia

The following statement was issued by United States Ambassador to Mongolia Jonathan Addleton on the occasion of the 20th anniversary of the arrival of the Peace Corps in Mongolia.


Ulaanbaatar, Mongolia, /MONTSAME/ At the Community of Democracies (CD) Council meeting, the President of Mongolia, Ts.Elbegdorj met the Prime Minister of Tunisia, Mohamed Ghannouchi.


Ulaanbaatar, Mongolia /MONTSAME/ A delegation led by G.Zandanshatar, the Minister of Foreign Affairs took part in a high-level meeting on strengthening nuclear safety organized September 22 at an initiative of the UN Secretary-General.


Ulaanbaatar, Mongolia /MONTSAME/ The Mongolia's Minister of Foreign Affairs G.Zandanshatar delivered a speech on Mongolian position on the test of nuclear tests, at the 7th meeting on validating the Nuclear Test-Ban Treaty (NTBT) held September 23 in New York.


Ulaanbaatar, Mongolia /MONTSAME/ The president of the Bank of Mongolia (BM) L.Purevdorj; and director of the Currency Policy and Research Department of the BM D.Boldbaatar participated in the Annual Meetings of the International Monetary Fund and the World Bank Group ran September 23-25 in Washington D.C, USA.


Ulaanbaatar, Mongolia /MONTSAME/ First Lady of Mongolia Mrs. Kh.Bolormaa has attended a high-level meeting entitled “Prevention and control of non-communicable diseases” held in the UN Headquarters, New York City.

Mongolian delegates visit ACEPT

Challenger Institute of Technology Executives met with Mongolian vocational education representatives and a national member of TAFE Directors Australia last week to discuss future partnerships.

General Mining Corporation clinches coal exploration license in Mongolia

General Mining Corporation (ASX: GMM) has clinched a deal to acquire a 100% interest in 19.6 km2 exploration licence in Mongolia for the purpose of coal exploration.

Mott MacDonald to advise on Mongolian Clean Air Fund

Mott MacDonald has been appointed by the Ministry of Nature, Environment and Tourism in Mongolia to advise on the Ulaanbaatar Clean Air Fund.

Mongolia: Reindeer (Food) Culture

Eurasianet contributor Pearly Jacob recently filed a fantastic piece about the Tasaatan people, traditional reindeer herders who live in Mongolia and who are struggling to maintain their ancient way of life.

Petro Matad receives valuable data from tests of its DT-4 well in Mongolia

Mongolia-focused oil explorer Petro Matad (LON:MATD) said this afternoon that it has received "valuable information" from the DT-4 well at its Davsan Tolgoi project.

Cray ships Mongolian cluster...

Yak yak yak. Supercomputer maker Cray has landed an XE6m minicluster deal in Mongolia.

Top Mongolian Security Official Released by Germany

Bat Khurts, head of the executive office of Mongolia's National Security Council who was extradited to Germany from Britain, has been released and arrived back in Mongolia, local media reported Tuesday.

Tuesday, September 27, 2011

MPP supporters say the party must fulfill its promises

The MPP held a “Hear the People” forum in Ulaanbaatar on September 24, and party leaders got an earful.

Officials give update on anti-pollution efforts

A group that is working to reduce air pollution in Ulaanbaatar delivered a report on their efforts to D.Battulga of the President’s Office on Monday.

New trade center opens in Yarmag

A new trade center is expected to lower food prices for remote khoroos in the Khan-Uul district. Without a local trade center, Khan-Uul Governor J.Gankhuyag said food prices in the khroos were 30 to 40 percent higher than in the city center, due to transportation costs.

Working group discusses election issues

A working group of the Standing Committee on State Structure that is preparing a draft law on the 2012 election met on Monday.

Inflation could reach 20 percent

The World Bank says Mongolia’s economy kept growing in 2011, according to a report in the newspaper Uls Turiin Toim.

Rio Tinto official: Renegotiation request is about politics

The controversy over the Mongolian government’s request to renegotiate the Oyutolgoi mining investment agreement continues.

B.Khurts freed from Germany, Arrived in Mongolia

B.Khurts, head of the executive office of National Security Council of Mongolia has just arrived at the Capital city of Mongolia with B.Bolor, Deputy Minister of Foreign Relations and other officials.

Mongolians have harvested largest amount of vegetables this year

One of the main target of the Government is to supply enough agricultural products in the market. This year Mongolians have harvested huge amount of vegetables and wheats.

Mongolia by Horseback: Traveling with Genghis Khan’s Descendants

For much of the year, Mongolia covers up under a thick layer of snow and ice, lacerated by glacial winds that make its frigid expanses as uninviting to potential visitors as they are punishing for the thousands of nomads who call the country’s wilderness their home.

Spooked investors dump Ivanhoe despite reassurances – shares crash 21%

A statement put out by Ivanhoe Mines on Monday telling investors that its Oyu Tolgoi project remains on track and pooh-poohing rumours about the Mongolian government reneging on the deal that Ivanhoe and partner Rio Tinto spent five years negotiating did little to ease the fears of investors.

KGHM says copper price drop no threat to earnings forecast

The chief executive of KGHM, Europe’s No. 2 copper producer, said the recent drop in copper prices was probably temporary and should not threaten the Polish company’s earnings forecasts.

President Elbegdorj Vague on the Question of Mongolia’s Policy Towards Southern Mongolian Asylum Seekers

In honor of Tsakhia Elbegdorj, President of Mongolia, and Roza Otunbayeva, President of Kyrgyztan, the Foreign Policy Association (APF) and the National Endowment for Democracy (NED) jointly hosted a dinner in New York as part of the 2011 World Leadership Forum on September 22, 2011.

Rio Tinto: out of steppe in Mongolia

Rio Tinto thought Ivanhoe was trouble enough. The Canadian miner, in which Rio has patiently built a dominant stake, accused it last week of saying more than it should about a Rio-run copper and gold complex in the South Gobi desert.

Ivanhoe stands firm on Oyu Tolgoi project agreement ownership split

Ivanhoe Mines Monday refused to give in to the Mongolian government’s demand’s that the country’s interest in the massive Oyu Tolgoi copper-gold project rise from its current 34% to 50%.

General Mining Corporation (ASX:GMM) to Acquire a New Mongolian Project for Coal Exploration

General Mining Corporation Limited (ASX:GMM) has signed an agreement to acquire a 100% interest in a 19.6 km2 exploration licence predominantly for the purpose of coal exploration in the Uvs Basin in Mongolia.

Mongolia Mining Report Q4 2011

Business Monitor International's Mongolia Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Mongolia's mining industry.

Mongolia denies reports of security official's release

ULAN BATOR, Sept. 26 (Xinhua) -- Mongolia on Monday denied a German newspaper report that a top official of the National Security Council has been freed from German prison.

China orders tighter controls on rare earths

SHANGHAI—China's Ministry of Land and Resources has ordered a further tightening of controls on strategically vital rare earths used in advanced manufacturing, for the sake of what it says is "sustainable and healthy development."

Pollution: Iran cities worst, Canada and U.S. best

Cities in Iran, India, Pakistan and the capital of Mongolia rank among the worst on the planet for air pollution, while those in the United States and Canada are among the best, according to the first global survey released Monday by the World Health Organization.

Mongolia Reported to Seek Mining Changes

The Canadian owner of the massive Oyu Tolgoi mining project in Mongolia said an existing investment agreement "remains a fair and legally binding contract that deserves and requires the unqualified support of all parties" amid reports the Mongolian government is seeking changes.

Rio Tinto embroiled in Mongolia feud

THERE was a nod to Mongolia's nomadic heritage when Rio Tinto opted to use traditional ger tents for workers' accommodation at the massive Oyu Tolgoi mine.

Ivanhoe says Mongolia mine pact ‘binding’

Ivanhoe Mines Ltd. is lashing out at the Mongolian government after a senior minister said the government wants to increase its stake in the massive Oyu Tolgoi copper-gold project.

Garrison International Fight With Director Continues with Hearing Last Week in Mongolia

Legal skirmishing continues to heat up between Garrison International Ltd (GAU.V) and a director on the board of the junior mining company's directors, with Garrison this weekend saying the two sides participated in Sept. 21 court hearing seeking to determine ownership of the company's gold exploration properties in Mongolia.

Iran, India, Pakistan and Mongolia have most polluted cities in the world

World Health Organisation's first global survey of fine particle pollutants says US and Canadian towns are among cleanest.

Ivanhoe Mines Expects the Mongolian Government to Support the Oyu Tolgoi Investment Agreement

Schedule for supply of interim electric power remains on track.

Ivanhoe shares fall as Mongolia rethinks mine pact

* Minister says Mongolia wants to renegotiate agreement
* Ivanhoe says expects government to honor existing deal
* Ivanhoe shares down more than 12 pct on NYSE, TSX (Adds details on power supply; updates share price move)

Manas Announces Results of Annual and Special Meeting of Stockholders

BAAR, Switzerland, Sept. 26, 2011 /PRNewswire/ -- Manas Petroleum Corp. ("Manas") (TSX-V: MNP; OTCBB: MNAP) is pleased to announce that it has issued to Dr. Werner Ladwein, a member of its Board of Directors, 2,000,000 shares of its common stock.

Culture Shock Mongolia

Mongolia is an amazing place to visit, and one of the best places in the world to ride. The Northern route takes you through some of the best Mongolia has to offer, and although you miss the Gobi desert by taking it, you still get to see herds of camels, vast open steppes, mountains and even a couple of sand dunes.

Ivanhoe Mines Stock Falls On Unusually High Volume (IVN)

NEW YORK (TheStreet) -- Ivanhoe Mines (NYSE:IVN) is trading at unusually high volume Monday with 8.1 million shares changing hands. It is currently at four times its average daily volume and trading down $3.27 (-20.4%) at $12.74 as of 2:30 p.m. ET.

Ivanhoe Mines pushes back at Mongolia over copper mine

Canada’s Ivanhoe Mines Ltd. (IVN-T15.00-1.51-9.15%) is battling back against moves by the Mongolian government to secure a larger chunk of the promising Oyu Tolgoi copper-gold project, but investors are bailing out.

Ivanhoe Falls After Mongolia Seeks Bigger Stake in Copper Mine

Sept. 27 (Bloomberg) -- Ivanhoe Mines Ltd. fell in Toronto trading after Mongolia said it wanted to boost its stake in one of the world’s largest undeveloped copper-gold mines two years after agreeing to cap its stake until 2039.

Monday, September 26, 2011

Putin receives MPP delegates

An assembly of the United Russia Party was held on September 23 and 24 in Moscow. An MPP delegation headed by deputy speaker and head of the Mongolian-Russian parliamentary group N.Enkhbold took part in the assembly at the invitation of the party.

Wrestling tournament sets Guinness record

A wrestling tournament in Ulaanbaatar that ended on Sunday set a Guinness world record for the most participants in a single wrestling tournament.

Mongolian delegation attends meeting on international security

An international meeting of high-ranking security officials from 51 nations took place in Yekaterinburg, Russia on September 21 and 22.

Council considering tariff increases

The Customs Tariff Council is considering raising the tariffs on imported building materials and imported wheat.


Ulaanbaatar, Mongolia, /MONTSAME/ These matters will be high on the agenda for the regular autumn session of parliament.

Source of rumor that reincarnation of His Holiness Dalai Lama is born in Mongolia

Recently, Mongolian newspapers published stories which said next reincarnation of His Holiness Dalai Lama is born in one of the Gobi provinces of Mongolia and this news is kept secret.

Mongolia security chief freed in Germany: report

A top Mongolian security official extradited from Britain to Germany on suspicion of kidnapping a crime suspect has been freed from custody and may already have left the country, a German daily said Saturday.

Gold to rise beyond $2,000/oz in 2012 – LBMA poll

Gold’s rally will extend beyond $2,000 an ounce in the next year, but won’t match the record-breaking 50 percent surge of the last 12 months, according to an annual survey of gold investors and analysts at the world’s biggest bullion traders event.

What another banking crisis will mean for gold

In the first part of this series of articles we pointed out the developing banking crisis and why we felt that was happening.

Ivanhoe Mines to Issue Statement on Monday, September 26, on Challenge to Unauthorized Remarks About Oyu Tolgoi Project

Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) founder and Chief Executive Officer Robert Friedland said today that the company will issue a statement on Monday, September 26, in response to what it considers to be unauthorized and incomplete information concerning the Oyu Tolgoi Project by members of Rio Tinto’s senior management this week.About Ivanhoe Mines

Rio Says Accord Changes May Alarm Mongolia Investors

Rio Tinto Group said that potential changes by Mongolia to an investment accord that at present gives partner Ivanhoe Mines Ltd. control of one of the world’s largest copper mines will alarm investors.

Mongolia presses on key mine project

The government of Mongolia is seeking a bigger stake in Oyu Tolgoi, the biggest undeveloped copper mine in the world, in a surprise move that underlines the challenges ahead for Rio Tinto and Ivanhoe Mines as they develop the country’s flagship mining project.

Mongolia Sparks Rio Concern With Push to Raise Stake in Record Copper Mine

Mongolia wants to increase its stake in one of the world’s largest undeveloped copper mines two years after the nation agreed with Rio Tinto Group and Ivanhoe Mines Ltd. to cap government control until 2039.

Rio Tinto says will talk to Mongolia on copper mine deal

OYU TOLGOI, Mongolia, Sept 25 (Reuters) - Global mining giant Rio Tinto will respond to any request from the Mongolian government to discuss its investment in the country's giant Oyu Tolgoi copper-gold deposit, but still expects the original 2009 agreement to be honoured.

Mongolia Wants Stake Increased in Oyu Tolgoi Copper-Gold Mine Project

The Mongolian government wants to enlarge its share in the Oyu Tolgoi copper-gold project to 50% from 34%, even though it is still not within the contract’s allowed provision.

Mongolian Coking Coal Producer SouthGobi Resources is a Prime Taveover Target, Teck Resources Should Acquire it Before a Competitor Does

M&A activity in the coal space has been robust; Rio Tinto acquired Riversdale in Mozambique, Alpha acquired Massey and Arch acquired Intl. Coal.

C @ Limited moves step closer to acquisition of coal licenses in Mongolia

Perth based C @ Limited (ASX: CEO) has moved a step closer to acquiring coal licenses in southern Mongolia.

Mongolia Seeks Bigger Stake in Rio, Ivanhoe Copper Mine

Sept. 26 (Bloomberg) -- Mongolia wants to increase its stake in one of the world’s largest undeveloped copper mines two years after the nation agreed with Rio Tinto Group and Ivanhoe Mines Ltd. to cap government control until 2039.

Mongolia eyes 50% stake in key Oyu Tolgoi project

Mongolia is seeking greater control of one the biggest mining projects in the country, which is being developed by Rio Tinto and Ivanhoe Mines.

Mongolia's National Agency of Meteorology and Environmental Monitoring Orders a Cray XE6m Supercomputer

SEATTLE, WA, Sep 26, 2011 (MARKETWIRE via COMTEX) -- Global supercomputer leader Cray Inc. CRAY +1.79% today announced that the National Agency of Meteorology and Environmental Monitoring (NAMEM) in Ulaanbaatar, Mongolia has ordered a Cray XE6m supercomputer.

Rio and partners fall out over Mongolian riches

THERE was a nod to Mongolia's nomadic heritage when Rio Tinto opted to use traditional ''ger'' tents for workers' accommodation at their massive Oyu Tolgoi mine.

Mongolia wants to speed up raising its stake in copper

(Reuters) - The Mongolian government will seek to accelerate the timetable to increase its stake in the country's giant Oyu Tolgoi copper-gold project to 50 percent, Mining Minister Dashdorj Zorigt said on Sunday.

Mongolia security chief freed in Germany: report

A top Mongolian security official extradited from Britain to Germany on suspicion of kidnapping a crime suspect has been freed from custody and may already have left the country, a German daily said Saturday.

Garrison International Ltd.: Update on Unauthorized Transfer of Company Subsidiary

TORONTO, ONTARIO, Sep 23, 2011 (MARKETWIRE via COMTEX) -- Garrison International Ltd. CA:GAU 0.00% ("Garrison" or "the Company") hereby notifies its shareholders that an Introductory Motion in Damages and Permanent Injunction against Garrison International Ltd., its current and former Directors and its Legal Counsel, has been filed in the Province of Quebec.

Why not outsource the government? Jargal de Facto, Views on Mongolia

Mongolia’s government recognizes its incapacity to accomplish its duties. So they started to hire foreign management in state-owned enterprises already.

Mongolia Wants 50% of Rio’s Oyu Tolgoi Project, Minister Says

Sept. 26 (Bloomberg) -- Mongolia wants to bring forward the raising of its stake in the Oyu Tolgoi copper project that’s being developed by Rio Tinto Group and Ivanhoe Mines Ltd. to 50 percent from 34 percent, according to the minerals minister.

Friday, September 23, 2011

PM inspects public works projects

On Thursday, Prime Minister S.Batbold inspected projects designed to reduce air pollution and improve roads.

MRA: 18.9 million tons of coal extracted

The Mineral Resources Authority (MRA) recently inspected data from coal mining companies. It concluded that mines are operating at between 92.7 and 100 percent of capacity.

Autumn session of Parliament to begin October 3

The head of Parliament’s Office, Ts.Sharavdorj, tells the newspaper Uls Turiin Toim that the Speaker’s Council met on Thursday and decided to open the autumn session at 11 on the morning of Monday, October 3.

Governor of Songinokhairkhan District arrested

Sources say the governor of Songinokhairkhan District, Ts.Bold, was arrested Thursday evening. He is accused of embezzling MNT 300 million from the budget.


Ulaanbaatar, Mongolia, /MONTSAME/ The Mitsubishi corporation has handed scholarships to 15 students of Science technology university of Mongolia.


Ulaanbaatar, Mongolia, /MONTSAME/ The Ambassador, special representative of the USA President in charge of nuclear nonproliferation Susan F.Burk met J.Enkhsaikhan, the Ambassador of Mongolia at the International Atomic energy agency /IAEA/ in Vienna, Austria on Thursday.


Ulaanbaatar, Mongolia, /MONTSAME/ Minister of Foreign Affairs G.Zandanshatar met Wednesday with Romania's Minister of foreign affairs Mr Teodor Baconschi in the UN Headquarters September 22.


Ulaanbaatar, Mongolia, /MONTSAME/ The Parliament Speaker D.Demberel will work September 23-27 in Khovd aimag with aims to get acquainted with a situation and works and to talk about parliamentary activities.

Rio ready to pounce on $10bn acquisitions

RIO Tinto says $US10 billion-plus acquisitions are back on the table — provided its credit rating is not put at risk — as the mining giant hunts for bargains amid turmoil in financial markets.

Mongolia tries to wrestle record back from China

More than 6,000 fighters are engaged in an epic battle in Mongolia as they try to snatch the world record for the largest ever Mongolian wrestling contest from neighbouring China.

Copper, coal: crystal balls for the global economy

Copper, coal and other industrial commodities can be great tools for predicting economic prospects and right now they’re offering a gloomy outlook, but a closer analysis shows a glimmer of hope as the world struggles to avoid recession.

Mongolian Peacekeepers To South Sudan

Mongolia's defense minister has said the country is planning to send 850 peacekeepers to South Sudan, according to Xinhua:

Frontier Securities Mongolia Expert Series: Potential of Nuclear Energy Development in Mongolia

From 1970s to early 1990s, most of the exploration covering up to 40% of the whole Mongolian territory was carried out by Russian geologists.

Mongolia's high plains herders warily eye coal truck road

* Road to open next month, cut delivery time for coal shipments
* Herders face rapid change to pasture land, way of life

Wildlife conference opens in Ulaanbaatar

The Mongolian office of the World Wide Fund for Nature (WWF, formerly the World Wildlife Foundation) is holding a conference about the impact that building projects can have on wildlife.

Mongolian Stock Exchange making changes

The Mongolian Stock Exchange (MSE) is getting a facelift. B.Bold, the executive director of Newcom Group and head of the representative managing council of the MSE, told our correspondent about changes planned for the exchange.


Ulaanbaatar, Mongolia, /MONTSAME/ Secretary-general of Mongolia's Democratic party, D.Erdenebat, and a member of the party's national advisory committee, Da.Ganbold are to pay visit to Russia.


Ulaanbaatar, Mongolia, /MONTSAME/ As a chairman of the Community of Democracies (CD), Mongolia will organize a Ministerial Meeting of the UN Democratic Group and the first meeting of CD Leading Council.


Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet considered Wednesday a draft parliamentary resolution on opening Mongolia's Embassy in Rome, Italy.


Ulaanbaatar, Mongolia, /MONTSAME/ A Deputy Minister of Mongolia, M.Enkhbold received German representatives, led by Dr.Robert Surma, a department head of “Germanischer Lloyd” organization, September 21.


Ulaanbaatar, Mongolia, /MONTSAME/ During the 66th session of the UN General Assembly in New York, the President Ts.Elbegdorj met Wednesday Mustafa Abdul Jalil, the chairman of the National Transitional Council of Libya (NTCL).


Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet meeting on Wednesday discussed and then backed in principle intergovernmental agreement on financial cooperation between Mongolia and Germany and an agreement to be established between Mongolia's government and the Reconstruction and Credit Bank of Germany.


Ulaanbaatar, Mongolia, /MONTSAME/ At the 66th session of the UN General Assembly, the President Ts.Elbegdorj announced Wednesday he launched a group of state leaders' initiative on education for democracy in frames of the Community of Democracies (CD).

Wikileaks:2010 Mongolia Investment Climate Statement

State participation (or share) is determined by an agreement on exploitation of the deposit considering the amount of investment made the state; or, in the case of a privately-explored strategic deposit, by agreement between the state and the firm on the amount invested by the state.

Gold Miners Outshine Copper Miners (RIO, BHP, VALE, FCX, SCCO, NEM, ABX, AUY, SLW, GLD, GDX, SLV, SIL)

At yesterday's meeting for investors, Rio Tinto plc (NYSE: RIO) offered a subdued forecast for the iron ore and copper markets going forward.

Pakistan and Mongolia

John Murphy introduces personal stories, wit and insight from correspondents around the world. In this edition, Aleem Maqbool finds the Pakistani province of Sindh overrun with flood refugees who're receiving very little help; Robin Irvine finds stamina is all in Mongolia - for wrestlers as well as horses.

Mongolia votes for setting up International Think Tank

New York, Sep 22 : Highlighting the special constraints faced by landlocked developing countries, the President of Mongolia appealed to United Nations Member States to sign and ratify a multilateral agreement to set up an international think tank in his country’s capital to address the concerns of this vulnerable group.

Mongolia tries to wrestle record back from China

ULAN BATOR, Mongolia - More than 6,000 fighters are engaged in an epic battle in Mongolia as they try to snatch the world record for the largest ever Mongolian wrestling contest from neighbouring China.

The 'hilarious' photo of Obama 'moronically' waving

In a group photo with world leaders, Obama's waving hand blocks the face of Mongolia's president — and incites a fresh round of internet ridicule

Mongolia: Reindeer Culture Hangs On in Far North

It’s late summer and a chill wind blows through a tiny nomad camp in northern Mongolia’s permafrost forest.

Cooperation is Saving Mongolia’s Snow Leopards

NOTE: This is a guest post from Brad Rutherford, the Executive Director of the Snow Leopard Trust since 2000.

Mongolia wants bigger stake in gold, copper mine

ULAN BATOR, Mongolia (AP) — Mongolia's government is demanding a bigger stake in the massive gold and copper mine it is developing in conjunction with mining companies Rio Tinto and Ivanhoe.

Thursday, September 22, 2011

Mongolia - The land of Chinggis Khan: A Surprising Economy

Views on Mongolia of Gaurav Bhatia, a M.A.D. Intern from HKUST MBA over the summer 2011 period.

Ts.Munkhbayar requests meeting with Prosecutor General

Ts.Munkhbayar, the head of the Managing Council of Gal Undesten Union, formally requested a meeting with Prosecutor General D.Dorligjav on September 19.

Social Insurance National Council discusses pension issues

A meeting of the Social Insurance National Council is being held at the State Social Insurance General Office (SSIGO) on Thursday.

6,000 jobs may be generated in 2012

Labor Conference 2011, which was held at the Chinggis Hotel on Tuesday, examined the issues facing employers, as well as ways to reduce unemployment and poverty.


Ulaanbaatar, Mongolia, /MONTSAME/ On Tuesday, the State Head Ts.Elbegdorj attended a high-level meeting themed “Addressing desertification, land degradation and drought in the context of sustainable development and poverty eradication”.


Ulaanbaatar, Mongolia, /MONTSAME/ Being invited by the U.S President Barack Obama, the State Head Ts.Elbegdorj took part in an opening of the Open Government Partnership Initiative (OGPI) Tuesday in New York, USA.


Ulaanbaatar, Mongolia, /MONTSAME/ Permanent consultative working group on cooperation, established between Mongolia's Foreign affairs Ministry and People's government of Chinese Inner Mongolian Autonomous Region, ran its first meeting September 20 in Hohhot of China.


Ulaanbaatar, Mongolia, /MONTSAME/ On occasion of the International Day of Peace celebrated on September 21, the UN Secretary-General Ban Ki-moon has delivered a speech.


Ulaanbaatar, Mongolia, /MONTSAME/ The Foreign affairs Minister of Mongolia, G.Zandanshatar has met Thailand's Foreign affairs Minister Surapong Tovichakchaikul September 20 in New-York.

Oyu Tolgoi agreement would face amendment again

Oyu Tolgoi agreement would face amendment on its second “anniversary” of the signing ceremony. Two or three amendments can be expected for this time.

Authority Against Corruption forwards 29 cases for prosecution

The Authority Against Corruption has investigated 106 cases of possible wrongdoing through the end of August, and has forwarded 29 cases to law-enforcement agencies for prosecution.

Interview of First Deputy PM N.Altankhuyag

First Deputy Prime Minister N.Altankhuyag was interviewed regarding the Tavantolgoi Investment agreement with the foreign investor consortiums.

Friedland takes issue with Rio Tinto

Tensions between the owners of the massive Oyu Tolgoi project in Mongolia, diversified miner Rio Tinto and Canada’s Ivanhoe Mines, appeared to flare up again on Wednesday, after the smaller firm accused its partner of making unauthorised statements regarding the asset.

Copper leads commodities decline after Fed warning, China PMI

Commodities tumbled on Thursday, led by copper, after the US Federal Reserve’s warning of a grim economic outlook and a contraction in Chinese factory output added to concerns about slowing demand for fuels and metals.

Ivanhoe Says Rio Released ‘Unauthorized’ Information on Mine

Ivanhoe Mines Ltd. founder and Chief Executive Officer Robert Friedland said Rio Tinto Group released “unauthorized and incomplete” information about Oyu Tolgoi, the Mongolian mine they’re jointly developing.

Ivanhoe roiled as Mongolia rethinks Oyu Tolgoi, says partner Rio makes ‘unauthorized’ statements

News that the Mongolian government is rethinking a 2009 deal that gave Ivanhoe Mines and Rio Tinto a 66% stake in the massive Oyu Tolgoi gold and copper project has sent the shares of Ivanhoe down more than 9.5% in Toronto on Wednesday afternoon, while Rio’s ADRs gave up over 6% in New York trade.

FNC’s Baier Airs Video of Obama’s UN ‘Photo Fail’

The picture of President Barack Obama putting his hand in front of the head of state next to him during a UN photo shoot Tuesday night has circulated on the Internet, and FNC’s Bret Baier on Wednesday evening ran video, of what he described as Obama’s “photo fail,” taking place.

Mongolia to send 850 peacekeepers to South Sudan

ULAN BATOR, Sept. 21 (Xinhua) -- The Mongolian government would send 850 soldiers to South Sudan as peacekeepers, Mongolian Defense Minister Luvsanvandan Bold said Wednesday.

President Obama Forgets He Is Not Alone During Photo Op at U.N.

After President Obama gave a speech at the United Nations Tuesday to mark the start of an initiative for transparency in government, he joined other leaders for a group photo but must have forgotten for a brief moment that he wasn’t alone.

The past is the past and the future is ... Mongolia

The financial world appears to be in meltdown across The globe but this column won't sleep until we've found The gems amongst The coal, The pearls amongst The oysters and The bulls amongst The bears.

Development key to regional peace

SHENYANG - Prominent political figures from Northeast Asia gathered in Shenyang on Wednesday to mark the 30th International Day of Peace, and stressed that sustainable development was a key factor to ensure peace in the region.

Mongolia resource sales hit headwind

ULAN BATOR - As Mongolia is cashing in on its enormous resource wealth, tensions are building between the Mongolian government and foreign investors.

Central Asia Metals Interim Results

Central Asia Metals plc, a mining and exploration organisation with operations in Kazakhstan and Mongolia and a parent holding company based in the United Kingdom, announces its unaudited results for the six months ended 30 June 2011.

German firms eye joint investing in commodity sources

* German firms study investment in foreign projects
* Aim is to ensure supplies
* Kazakhstan, Mongolia first focus

Uranium Corp, NPCIL to bid for assets abroad

KOLKATA: Public sector units Uranium Corporation of India Ltd (UCIL) and Nuclear Power Corp of India Ltd (NPCIL) will jointly bid for overseas uranium reserves, potentially boosting its financial firepower in any bid battle for gaining control of these assets.

Global Insider: India-Mongolia Relations

Indian and Mongolian troops are currently holding a two-week military exercise in Mongolia, following a visit by the Indian army chief to the Central Asian country.

Think tank for landlocked nations ‘vitally important,’ Mongolian leader tells UN

21 September 2011 – Highlighting the special constraints faced by landlocked developing countries, the President of Mongolia today appealed to United Nations Member States to sign and ratify a multilateral agreement to set up an international think tank in his country’s capital to address the concerns of this vulnerable group.

Peabody Energy Senior Scientist Honored by Mongolia’s Ministry of Nature, Environment and Tourism as ‘Distinguished Environmentalist’

ST. LOUIS, Sept. 21, 2011 /NEWS.GNOM.ES/ — Mongolia‘s Ministry of Nature, Environment and Tourism has honored Peabody Energy’s Senior Manager of International Reclamation Vern Pfannenstiel as a ‘Distinguished Environmentalist’ for his leadership to establish best scientific practices in land restoration to protect Mongolia‘s environment.

Mongolia May Revise Biggest Coal, Copper Project Agreements

Mongolia may revise ownership accords with Rio Tinto Group and other foreign companies for the nation’s two biggest mineral projects ahead of parliamentary elections scheduled for next year.

Wednesday, September 21, 2011

Preparation for autumn session is complete

The head of Parliament’s Office, Ts.Sharavdorj, told our correspondent that preparation work for the autumn session has been completed.

Ambassador resigning to work for Rio Tinto

The Special Deputy Ambassador for Nuclear Energy in the Ministry of Foreign Affairs and Trade, A.Undraa, is resigning to take a job with Rio Tinto. She spoke with our correspondent on Tuesday.

IMF official: Budget should not be revised

Steven Barnet, the head of an IMF working group, answered our correspondent’s questions.

MP suspected of embezzlement

The Anti-Corruption Authority (ACA) says MP Kh.Narankhuu is suspected of embezzling state property, and the case has been forwarded to the Ulaanbaatar Prosecutors’ Office for prosecution.

International conference opens in Ulaanbaatar

An international conference on developing democracies is being held at the Government House.


Ulaanbaatar, Mongolia, /MONTSAME/ "Benefits of the Investment Agreement include more than 50 per cent of cash flow to Government of Mongolia," said the Oyu Tolgoi CEO Cameron McRae in his statement made September 19.


Ulaanbaatar, Mongolia, /MONTSAME/ The seminars themed “Technical issues of auto road project” and “Infrastructure financing” are running September 20-23.


Ulaanbaatar, Mongolia, /MONTSAME/ S.Batbold PM expressed a hope that a statement released by heads of the bilateral intergovernmental commission would contribute to the relations between Mongolia and Italy relations.

Mongolia: Britain caved on spy extradition

ULAN BATOR, Mongolia, Sept. 20 (UPI) -- Britain's courts caved in to political pressure when they allowed the extradition of a Mongolian security official to Germany, the Asian country says.