Tuesday, October 30, 2012

Kincora Copper announces C$6 million financing for Bronze Fox

Vancouver-based Kincora Copper (CVE:KCC) is raising up to C$6 million via a private placing.

Lawyer: Working in Mongolia not worth risk

A lawyer who rejected a possible job with Rio Tinto in Mongolia has expressed sympathy for the plight of Sarah Armstrong.

PHOTOS: Mongolia Dance Festival

Photo Link: http://kykernel.com/2012/10/29/photos-mongolia-dance-festival/

Research reveals climate conditions at beginning of Khan’s rise to power

Research published in the journal Science has helped to explain the climate conditions behind Genghis Khan’s rise to power.

Schumacher finds his way on the mat

It’s hard to imagine in our sports-mad culture, but there are times when pocketbook issues trump even athletics.

Standardbreds head to Mongolia

Eight young horses bought off Christchurch trainers Graham and Paul Court will soon be exported to Mongolia.

Electricity Shortages May Darken Mongolia's Future

Electricity is a regular topic of conversation in Umnugovi that has the feel of an unexplained natural phenomenon.

Mongolia Growth Rate May Sink by One-Third, Central Banker Says

Mongolia’s central bank governor said that the nation’s growth rate may slow by a third this year from a record 17 percent in 2011 as inflows of foreign investment cool.

Mongolia to recover mine supply to China in 5-10 months: Mongolia official

HONG KONG, Oct. 30 (Xinhua) -- Mongolia expects to recover its mine supply to the Chinese market in five to ten months as China has reduced purchasing mine in Mongolia due to the sluggish global economy, the vice minister of the country's Ministry of Economic Development Chuluunbat Orhirbat said here on Tuesday.

Monday, October 29, 2012

Mongolia is one of top 10 reformers

A new report from IFC and the World Bank finds that Mongolia is the top improver for the year for ease of doing business in East Asia and the Pacific Region and among the global 10 reformers in improving business regulations.

Peabody targets Mongolia coal

Coal miner Peabody Energy (BTU.N: Quote), eager to tap Mongolia"s massive coal resources, said on Friday it expects to resume talks with the government in early 2013 over acquiring a stake in the undeveloped western block of the Tavan Tolgoi deposit.

Korean noodles recalled from markets in Mongolia

"Nongshim” Korean noodles have been banned in Mongolia because they are found to contain binzopiren which may cause tumors.

Ulaanbaatar City’s anniversary today

It is the 373rd anniversary of Ulaanbaatar city today. Many events are meant to be held during the day.

Chingis Khaan’s Birthday to Become a National Celebration Day

On the Friday’s Parliament meeting, the vetoing of laws and parliament policy project was introduced.

State and Parliamentary Heads Support Blood Drive

Within the framework of the “National Program to Expand the Range of Blood Donors,” Parliament members headed by Z.Enkhbold, Head of the State Great Khural (Parliament) and President Ts.Elbegdorj donated their blood at the State Palace last Friday.

Prime Minister Challenges on Recent Air Pollution Initiatives

The following was translated from local business media regarding the Prime Minister’s new initiative to reduce the price of coal for ger district residents—in contrast with legislation to reduce the use of coal.

Get Charged Up For One of The Best New Games on iOS with Magnet Boy!

[prMac.com] Ulaanbaatar, Mongolia - Mongolian-based Mongol Content today announces the release of Magnet Boy for the iPhone, iPod touch and iPad. Magnet Boy throws arcade action, platforming fun and puzzle problem solving gaming on its head and blends them all together!

Upcoming eclipse inspires travel to Australia

MANAKIN-SABOT, Va. — When Linda Bugbee's husband suggested traveling to the South Pacific to see a total solar eclipse, she was more enthusiastic about the cruise and visiting Tahiti than she was about seeing a celestial phenomenon.

SouthGobi Lawyer Met Anti-Corruption Agency, Stays in Mongolia

SouthGobi Resources Ltd. (SGQ), controlled by a unit of Rio Tinto (RIO) Group, said its legal counsel who was barred from leaving Mongolia last week had met with the country’s anti-corruption agency to assist an investigation.

Mongolia refuses aid for lawyer Sarah Armstrong

AUSTRALIAN diplomats have been blocked by Mongolian authorities from attending the questioning of stranded Australian lawyer Sarah Armstrong over bribery allegations against her Rio Tinto-owned employer.

Roving Exhibition Showcases History of Ulaanbaatar

On the 373rd anniversary of the establishment of the Ulaanbaatar City, the Ulaanbaatar City Museum organized an outdoor roving photographic exhibition last week.

The Art of Energy

By Paul Sullivan,
Georgetown University

Mongolian Movie to participate in filmapalooza 2012

A schedule of the "48 Hour Film Project: Filmapalooza 2012" has been relased, and it will take place on March 6-12 2013 in the Wall of Fame street in Holliwood USA.

MICROCAPITAL BRIEF: Oxfam, City of London, Symbiotics Invest $1.6m in Xac Leasing of Mongolia through Small Enterprise Impact Investing Fund (SEIIF)

Oxfam UK, a UK-based charity, City of London and Symbiotics, a Swiss microfinance investment intermediary, recently launched a joint initiative known as the Small Enterprise Impact Investing Fund (SEIIF).

Heaven Whips and Lashes

Everyone packed into the large hall waited in anticipation to see what was behind the blue veil draped gently over mysterious shaped and secretive items.

Strategic plans for top-five priority nations

A new report from IFC and the World Bank finds that Mongolia is the top improver for the year for ease of doing business in East Asia and the Pacific Region and among the global 10 reformers in improving business regulations.

A pop-tart-making president, please

I was talking to an American friend today about the upcoming presidential elections in his country and I asked him if he had voted yet.

Officials Pay Respect to Starting Point of Mongolian Road Network

The 83rd Anniversary of the Mongolian Road Sector occurred on October 26 and the officials of the road sector paid a respect to the starting point at Sukhbaatar Square.

Solving the Gobi’s Water Problem

“The estimated current water demand is in the order of 80,000 m3/day and will increase to 400,000–450,000 m3/day in 2020.

Mongolia to pass smoking ban

In nation where 48 per cent of men are regular smokers, parliament acts to tackle a growing health problem.

Mongolian University Sports Festival – ‘Universiade’ Opens

The third Mongolian University Sports Festival ‘Universiade’ officially held its opening on last Thursday, October 25th.

TEXT-S&P ratings - Mongolia

(The following statement was released by the rating agency)

Mongolia: A Lucky but Difficult Pie to Slice

The rapid inflow of huge amounts of investment cash is forcefully dragging the small economy of Mongolia forward, despite numerous problems plaguing the Government and related crucial decision-making bodies.

Sunday, October 28, 2012

China trip will pay off, Victoria mayor says

A Victoria delegation’s whirlwind trip to China will pay dividends, Victoria Mayor Dean Fortin said Friday from that country.

The Changing Face of Ulaanbataar

ULAANBATAAR, MONGOLIA - OCTOBER 26: Mongolian school girls wait in line to use the bathroom during a break from 2nd grade class at public school number 39 October 26, 2012 in Ulaanbataar, Mongolia.

World Vision brings hope to underprivileged kids

KUALA LUMPUR: About 15 years ago, Suronzonbold Battsetseg was a seven-year-old underprivileged girl from a poverty stricken interior in Mongolia.

The Mongolian Tango

A complicated, dynamic, sometimes violent yet sensual dance between Foreign Investors and the Mongolian Government.

Saturday, October 27, 2012

Australian Lawyer Detained in Mongolia Subject to 10-Hour Interrogation, Says Family

Sarah Armstrong, the SouthGobi lawyer who last week was detained by the Mongolian government as a corruption investigation witness, has been subject to lengthy interrogations, her mother told the Weekend Australian.

'Suffering From Paranoia'

The wife of an ethnic Mongolian activist says her husband's health is quickly deteriorating under illegal detention.

Beyond Resources

What are your first impressions of Mongolia?

MSE sees biggest loss in 44 weeks

Last week the MSE Top 20 index plunged 4.57, the largest decline since 16 December 2011.

Investor sentiment falls with move to alter OT agreement

Parliament's move to draw greater royalties and tax from the Oyu Tolgoi copper and gold project through revision of the investment agreement for the tremendous copper mine has some investors worried for the political stability and its ability to honor agreements.

Unraveling the 2013 budget

When it comes to spending, the new government does not look so different from the last.

Government to launch tender for new rail line

The Mongolian government plans to invite bids by the end of the year for the first phase of a USD 7 billion project to build around 6,000 kilometers of new lines, comprising an east-west corridor and two north-south lines.

Peabody profit estimates beaten by cost cuts, China coal demand

Coal miner Peabody Energy Corp., who was offered a contract to develop Tavan Tolgoi's West Tsankhi, raced past analysts' estimates as cost cuts started to pay off and sales volumes in Australia climbed on a pick-up in demand from China, sending its shares up as much as 14 percent.

Media visits Salkhit wind farm

Newcom LLC gave media a look at the construction site for the Salkhit wind farm.

Miner making inroads offshore

Dunedin-based company RSC Mining and Mineral Exploration Ltd is making plans for its fifth birthday next year.

Walter Energy Reveals Q3 Impairment, Peabody Goes To Mongolia: Energy Business Review

Walter Energy (NYSE:WLT) reports that its third quarter earnings will include a goodwill impairment charge of up to $1.1 billion, resulting from modifications in the world outlook for met coal, along with sluggishness of late in global demand.

Search for Mongolian riches strikes a hump

IT WAS - and still is - a country of immense untapped potential. But a series of missteps, uncertainties and controversies, culminating in the recent detention of Australian lawyer Sarah Armstrong, has seen Mongolia develop an increasingly unwelcome reputation for risk.

Mongolian official promises to change investment deal with Canadian mining giant

ULAN BATOR, Oct 26, 2012 (Xinhua via COMTEX) -- Mongolian Mining Minister D.Ganhuyag on Friday said the ministry will work hard until the the Oyu Tolgoi (OT) investment agreement is changed, promising that he would resign if he failed.

Rio Tinto lawyer held in Mongolia in for more questioning

MONGOLIAN anti-corruption investigators were last night interrogating trapped Australian lawyer Sarah Armstrong for the second time over alleged misdeeds by her Rio Tinto-owned employer, a week after she was subjected to a 10-hour grilling.

Friday, October 26, 2012

Duo’s appeal dates in Altantuya murder vacated

The hearing dates which were earlier set to hear the appeal brought by two former police Special Action Squad commandos sentenced to death for the murder of Mongolian national Altantuya Shaariibuu, has been vacated.

Mongolian Embassy Officials Help Korean Farmers

Ambassador Manibadrakh Ganbold and staff members of the Mongolian embassy here did friendship work at the DPRK-Mongolia Jongbang Co-op Farm in Sariwon City, North Hwanghae Province on Wednesday.

HIV infection diagnosed in a foreigner

The National Research Center for Infectious Diseases released information that the 115th , and 116th HIV infection cases were registered last week.

Government to issue 5 billion US dollar bond

The Parliament finally discussed a decree on whether or not to agree to issue a government bond.

“Great Chinggis Khan” exhibition opens

The opening ceremony for the “Great Chinggis Khan” exhibition was held at the Mongolian State History museum on 25th October.

Government now to list concession contracts

The parliament discussed a draft law to make amendments in a law about concession contracts and passed it with 59.6 percent of MPs votes during a regular meeting on 25th October.

Smoking ban in bars and restaurants

The smoking ban legislation passed by parliament on 24th October will be implemented from 1st March 2013.

Health Sector to Get 60 Million USD Loan

The Standing Committees on Economy and State Budget held a joint meeting on Tuesday and discussed the draft loan agreements on “Health sector development program-4: Additional financing” and “Health sector development program-4” that will be implemented by the fund from the Asian Development Bank.

Ulaanbaatar Anniversary to be Marked as Citizens’ Holiday

The 373rd Anniversary of the establishment of Ulaanbaatar City will be on October 29, 2012.

Ministry of Finance and Mongolbank Approve Government Bond Policies

Government officials note that the release of Government Bonds will serve an important role in the short term plan to overcome current budget-related issues and the long term plans to finance some projects and programs to reduce their bond risks and, most importantly, to develop the government bond marketing as well as bond trading.

Art Performances are Deemed Important for Working Inmates

The following is an interview with Kh.Bayasgalan, the press and media representative of the General Execution Office of the Court Decision of Mongolia.

We Are Not So Different

It can be said that many people view self discovery and creation as an integral part of their life goals.

The Newly Formed Band MixX

There were over 500 young men and women aged from 16 to 25 who participated in the show ‘Making the Band – 3’.

SouthGobi Sands and Sarah Armstrong: Still No Official Statement from IAAC

It is reported that Sarah Armstrong, the Chief Legal Counsel of SouthGobi Sands (owned by Rio Tinto) was stopped by Mongolian authorities when she was about to catch a flight home in Hong Kong.


Sarah Armstrong, an Australian lawyer for a Mongolian mining company, is being prevented from leaving the country.


The World CTL 2012 India Summit will highlight India’s active project development in coal and petroleum coke (petcoke) conversion to high-value fuels and chemicals, World CTL president Serge Périneau tells Mining Weekly.


A recent drop in the share price for Entrée Gold, Inc., has been labeled “disappointing,” but the Canadian mining exploration company working in Mason Valley says it does not feel that decline reflects the underlying value of either of its two main projects, including the Ann Mason Project.

Caterpillar reduced 2012 forecast signals dim outlook for mining firms

Caterpillar Inc., the heavy machinery brand distributed by Wagner Asia Equipment LLC in Mongolia, slashed its 2012 forecast for the second time this year and warned the global economy was slowing faster than it had expected.

Moody's downgrades outlook for MMC

Moody's Investors Services changed its outlook of the B1 corporate family and senior unsecured ratings of Mongolian Mining Corp. (MMC) to negative from stable on 17 October.

‘Divine Chingis Khan’ Exhibition at Governmental Palace

The opening of the ‘Divine Chinggis Khan’ exhibition took place at the State History Museum on October 24.

Ts.Oyungerel: When Eric Prokopi was Arrested, Delivery of Another Dinosaur Skeleton Arrived at His Home

The following is an interview from the Undesnii Shuudan Newspaper with Ts.Oyungerel, the Minister of Culture, Sports and Tourism.

Improved regulations push Mongolia up on “Doing Business” index

Mongolia ranks 76 this year compared with 86 last year in the “Doing Business” report by the International Finance Corp. (IFC), the financial arm of the World Bank.

Peabody targets Mongolia coal to lift China exposure

MELBOURNE (Reuters) - Coal miner Peabody Energy (BTU.N: Quote), eager to tap Mongolia's massive coal resources, said on Friday it expects to resume talks with the government in early 2013 over acquiring a stake in the undeveloped western block of the Tavan Tolgoi deposit.

MP S.Ganbaatar to Sue the Mining Association of Mongolia

MP S.Ganbaatar held a press conference today to announce he is suing N.Alagaa, the head of the Mining Association of Mongolia.

Forum on National Amusement Park Held

An open forum titled “Save our park” was held in Citizen Hall at 10:00o`clock today.

Second discussion on draft budget begins

A Dispute over controversial mandate in the Uvurkhangai province erased and the parliament began the second discussion on draft budget today.

Speaker Ordered to Fine MPs

The Standing Committee on Justice raised an unplanned issue during today`s meeting.

Minister for Foreign Affairs visits in Germany

L.Bold, the Minister for Foreign Affairs of Mongolia is visiting Germany on an invitation by Guido Westerwelle, the Federal Minister of Foreign Affairs of Germany.

Prime Minister questioned by diplomat councils

Prime Minister N.Altankhuyag held the first meeting today as promised, to answer questions with diplomatic personnel, the council and foreign journalists to Mongolia.

City budget in discussion

The City Citizens Representative Council held a regular IV meeting in Khangarid Palace today with an attendance of 70 percent.

Uncovering the Gobi ‘Watergate’

“The most important thing is that the government, provinces and the public must have the same understanding of mining.

Bicycle March held

Young people with bicycles have shown their support for actions which the Ulaanbaatar City Governor’s Office and the Millenium Challenge Foundation are taking to reduce air pollution and traffic congestion in Ulaanbaatar.

Is there a limit to external debt?

Government is borrowing money by issuing bonds to both foreign and domestic private sector with the condition of buying them back later on.

Frank Cottrell Boyce wins Guardian children's fiction prize

The writer who parachuted the Queen and James Bond into the Olympic opening ceremony has won the Guardian children's fiction prize.

DOT Announces Appointment of a New Director

CALGARY, ALBERTA — John J. Komarnicki, Chairman and Chief Executive Officer of DOT Resources Ltd. (TSX VENTURE:DOT) ("DOT" or the "Corporation"), on behalf of the Board of Directors, announces the appointment of Mr. Frank L. Wells, Jr. as a Director of the Corporation effective October 24, 2012.

Yongye International, Inc. Special Committee Selects Independent Financial Advisor in Connection with "Going Private" Proposal

BEIJING, Oct. 25, 2012 -- /PRNewswire-FirstCall/ -- Yongye International, Inc. (NASDAQ: YONG) ("Yongye" or the "Company"), a leading developer, manufacturer and distributor of crop nutrient products in China, today announced that the Special Committee of its Board of Directors (the "Special Committee"), formed to consider certain potential transactions involving the Company, including the preliminary, non-binding proposal (the "Proposal") from a buyer group (the "Buyer Group") including (i) Mr. Zishen Wu, the Company's Chairman and Chief Executive Officer, (ii) Full Alliance International Limited, (iii) MSPEA Agriculture Holding Limited, and (iv) Abax Global Capital (Hong Kong) Limited, to acquire all of the outstanding shares of common stock of the Company not currently owned by the Buyer Group in a going private transaction (the "Proposed Transaction"), has retained Houlihan Lokey as the Special Committee's independent financial advisor.

'Space Buddha' Fake? Statue Carved From Meteorite Called Likely 20th Century Fraud

A supposed Buddhist statue allegedly carved from a meteorite 1,000 years ago may not be as ancient as suspected, according to a Buddhism expert who argues that the statue may be a 20th-century fake.

'Stressed but strong': lawyer detained in Mongolia fears she won't be home until Christmas

The parents of lawyer Sarah Armstrong, who has been detained in Mongolia after being caught up in a corruption investigation, just want their daughter back.

Firm not talking on Aussie woman's detention in Mongolia

THE Hong Kong-based firm behind an Australian woman's detention in Mongolia as part of a corruption investigation has refused to comment on claims she was banned from leaving the country as retaliation for providing information against Mongolian authorities.

Defamation suit settled after blogger says sorry to consul of Mongolia

BANDAR Tun Razak Umno division secretary Abdul Zaharin Mohd Yasin apologised to the honorary consul of Mongolia, Datuk Syed Abdul Rahman Alhabshi, in a consent settlement in a defamation suit filed two years ago.

Rare Earth Giant Attempts to Stabilize Slumping Prices

Inner Mongolia Baotou Steel Rare-Earth (SSE:600111), one of China’s leading rare earth producers, has halted production at some of its smelting and separation operations in an effort to stabilize slumping prices.

Australia's Modun signs offtake agreement for Nuurst coal project in Mongolia

Australia-listed Modun Resources said Thursday it had signed a heads of agreement with Australian trader Tennant Metals for thermal coal sales from its wholly owned Nuurst coal project in central Mongolia.

Talks to decide fate of Aussie lawyer in Mongolia

Mongolian authorities who have prevented an Australian lawyer from leaving the country will hold further talks with her this Saturday.

Mongolia Investment Group Ltd. : Notice of Extraordinary General Meeting

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Entrée Gold says share price drop tied to political uncertainty in Mongolia

A recent drop in the share price for Entrée Gold, Inc., has been labeled “disappointing,” but the Canadian mining exploration company working in Mason Valley says it does not feel that decline reflects the underlying value of either of its two main projects, including the Ann Mason Project.

Mongolia lawyer in frontline 'for Rio'

SARAH Armstrong, the Australian lawyer trapped in Mongolia, is embroiled in one of the country's biggest corruption cases and may be "in the firing line" for any misdeeds by Rio Tinto.

Thursday, October 25, 2012

Miners dig deep to make Mongolia projects pay off

THEY lovingly call it Mine-golia, but the past fortnight has provided some timely reminders for mining companies that their rush towards developing nations is not without its perils.


Rio Tinto and Turquoise Hills Resources last week publicly and firmly rejected a request by the Government of Mongolia to renegotiate the Oyu Tolgoi Investment Agreement (‘OT IA’), which is widely viewed as a benchmark for Mongolia’s commitment towards foreign investment and the country’s flagship mining development project.

Mongolia's metamorphosis – in pictures

Veteran Getty Images photographer Paula Bronstein travels to Mongolia to document the rapidly changing face of the country, currently the world's fastest-growing economy.

Plea from parents of detained lawyer

THE parents of a lawyer, Sarah Armstrong, detained in Mongolia after being caught up in a corruption investigation just want their daughter back.

Metallurgical coal junior has an operating mine

Q&A with Global Met Coal (V.GMZ) Chairman, CEO, and President George Heard

Baotou Steel Rare-Earth halts production to stabilize prices

BEIJING -- Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-tech Co, China's largest rare earths producer, has halted some of its production in an effort to steady prices amid weak market demand.

'Space Buddha' Statue May Be a Fake

A supposed Buddhist statue allegedly carved from a meteorite 1,000 years ago may not be as ancient as suspected, according to a Buddhism expert who argues that the statue may be a 20th-century fake.

What They’re Wearing at the American Museum of Natural History

On any given day at the American Museum of Natural History, employees might be meeting with dignitaries, interacting with children or traveling to far-flung destinations like Antarctica or Mongolia on scientific expeditions.

Mongolian police to quiz trapped lawyer

An Australian lawyer trapped in Mongolia was due to face her second interrogation by anti-corruption police last night as Australian consular officials tried to find out why she cannot leave the country.