Thursday, January 31, 2013

Jail time for former Chairman of Mineral Resources Authority

A trial was held at 461 Detention center over the course of three days for D.Batkhuyag, the former chairman of the Mineral Resources Authority, N.Davaatsogt, the former Head of the Office for Geological and Mining Cadastre of the Mineral Resources Authority, D.Batkhuyag`s friend, N.Jargalsaikhan and N.Batireedui, Directors of Zelem LLC.

New Branch of “Bank of China” opens today in Ulaanbaatar

Along with the official visit by Chinese top legislator Wu Bangguo, another special event in Ulaanbaatar is the opening of a new branch of the Bank of China in the city.

New ambassadors appointed

The appointment of new ambassadors was discussed and solved at the plenary session of parliament on Thursday.

Importer companies increase fuel reserves

Since the reformist Government formed it has carried out sub-programs aiming to stabilize the fuel retail price, grant lower interest rate loans and to protect currency rate risk.

THE MONGOL GLAN

The Kazakh nomad’s hand rocks forwards in a gentle stroking motion and the eagle needs no keener reminder of the business of the day, springing from her master’s wrist like a fluid extension of his will, gaining the thin, freezing-cold upper air with a few strokes of her vast wings.

COPPER PRICE FORECASTS FOR 2013 IMPROVE ON MORE BALANCED MARKET

HSBC has lifted its forecast for copper prices in 2013 due to expectations of a more structurally balanced market and positive sentiment.

SouthGobi Executive Under Exit Ban

Justin Kapla, President of SouthGobi Sands LLC, has been under an exit ban from Mongolia for approximately 3 months.

Three Malaysians Arrested for Debit Card Fraud

The Criminal Police Department (CPD) has arrested three Malaysian citizens on charges of debit card fraud.

Chinese and Mongolian militaries hold meetings

The frontier defense servicemen of the Chinese and Mongolian militaries stationed along the border of the People's Republic of China and the State of Mongolia near Altay, a city of the Xinjiang Uygur Autonomous Region, held a meeting prior to the 2013 Chinese Spring Festival on January 28, 2013.

Win for Australian Met Coal Producers

PRICES for Australian metallurgical coal are set to benefit from uncertainty over future production from the emerging provinces of Mozambique and Mongolia.

Undur Tolgoi Releases Results of Fall Work Program

ULAANBAATAR, MONGOLIA--(Marketwire - Jan 30, 2013) - Undur Tolgoi Minerals Inc. ("UTM" or the "Company") (CNSX:UTM) is pleased to update shareholders on the Company''s most recent work program carried out in September and October 2012 on the Company''s Undur Tolgoi property.

Mongolia beckons Poland

During a visit to Poland last week, Mongolian president Tsakhiagiin Elbegdorj called for Polish investment in his country's energy sector, touting Mongolia's record as the fastest-growing economy in the world.

6 regions’ per capita GDP above $10,000

Per capita GDP in six municipalities, provinces and regions including Beijing, Zhejiang and the Inner Mongolia Autonomous Region surpassed $10,000 in 2012, putting them at a level close to a developed economy, according to statistics released by the local governments as of Tuesday.

Top Chinese legislator meets senior lawmakers of three Asian countries on ties

VLADIVOSTOK, Jan. 30 — Top Chinese legislator Wu Bangguo met parliament leaders from the Republic of Korea, Malaysia and Laos respectively on Monday and Tuesday in Russia's Far Eastern city of Vladivostok and discussed bilateral ties and ways for further cooperation.

Top legislator vows to further ties with Mongolia

ULAN BATOR - China's top legislator, Wu Bangguo, on Wednesday pledged to further develop ties with Mongolia during a meeting with his Mongolian counterpart Zandaakhuu Enkhbold.

L&L Updates Shareholders on Operations

SEATTLE, Jan. 31, 2013 /PRNewswire/ -- L & L Energy, Inc., (LLEN) ("L&L" or the "Company"), a Seattle-based company with a track record of profitable coal operations in China, provided an update on its mining operations in Guizhou and plans for expansion into Shanxi and Inner Mongolia.

Rio Tinto Says Oyu Tolgoi Mongolia Project on Track

Mining giant Rio Tinto PLC says Oyu Tolgoi, its mega copper and gold project in Mongolia, is continuing on schedule despite reports the company has discussed shutting operations.

Amazing scenery of A'er Mountain, China's Inner Mongolia

Located at the foot of southwest Daxing'anling Mountains in North China's Inner Mongolia Autonomous Region, A'er Mountain is famous for its mineral springs, abundant volcanic lakes and beautiful forest.

Yair Jacob Porat: Our focus is our clients’ business success

BDO, the world’s fifth-largest consulting and auditing company opened a member firm in Mongolia on January 1, 2013.

Chinese top legislator pledges to further ties with Mongolia

Wu Bangguo(L), chairman of the Standing Committee of the National People's Congress of China, shakes hands with Zandaakhuu Enkhbold, chairman of the Mongolian State Great Hural (parliament), in Ulan Bator, Mongolia, Jan. 30, 2013.

Mongolia and Hong Kong talks collaborating against crime

Prosecutor General of Mongolia D.Dorligjav is paying a working visit to Hong Kong at the invitation of Director of Public Prosecutions of the Department of Justice of the Hong Kong Special Administrative Region Kevin Paul Zervos.

Mongolia: Sky-high ICT goals

By Paulius Kuncinas
Regional Editor, Oxford Business Group

Rio says Mongolia mine remains on track

Rio Tinto says it remains on track to start production by the middle of the year at its giant copper-gold mine in Mongolia, playing down reports that it might temporarily halt construction.

Newsletter February 2013

Ladies and Gentleman, Friends and Clients,

Mongolia: Eagle Hunting Sustains Kazakhs’ Living Legacy

“It’s good, yes? It’s veeeery good!” Orisbai Shatirbai laughs giddily, as Hiran, his five-year-old golden eagle, perches over the large fox it has just caught on the Mongolian steppe.

Mongolia taps Shenhua to break China coal

Mongolia is reaching out to China's largest coal producer China Shenhua Energy in an effort to break a deadlock over the terms of a souring coal supply deal with another Chinese giant Aluminum Corp of China.

China, Mongolia to increase their economic relations

China will further expand economic and trade cooperation with the neighboring country of Mongolia, particularly in mineral resources exploration, infrastructure construction and the financial sector, a senior Chinese leader said on Wednesday.

Rio threatens to halt work at Oyu Tolgoi over Mongolia's demands for bigger stake

Bloomberg reports Rio Tinto (RIO:LSE) is considering halting work at its $10 billion Oyu Tolgoi copper and gold project in Mongolia over profit-sharing and ownership demands from the government.

Rio Said to Consider Halt at Biggest Mongolia Copper Mine

Rio Tinto Group (RIO), the second-biggest mining company, is considering a temporary halt to construction work at its $6.2 billion Oyu Tolgoi copper and gold project in Mongolia as the government demands a greater share of profit from the mine, according to two people familiar with the plans.

Wednesday, January 30, 2013

Silver Dragon Obtains Mining Area Delimitation Approval for Dadi Silver-Lead-Zinc Polymetallic Property

BEIJING, Jan. 29, 2013 (GLOBE NEWSWIRE) -- Silver Dragon Resources Inc. (OTCQB: SDRG) (the "Company") is pleased to announce that it has obtained mining area delimitation approval for its Dadi Silver-Lead-Zinc polymetallic property in Inner Mongolia, Northern China. Dadi is owned by Sanhe Sino-Top Resources & Technologies, Ltd. ("Sino-Top"), of which Silver Dragon Resources Inc. has a 40% equity interest.

It's goodbye Lenin, hello dinosaur as fossils head to Mongolia museum

Once he bestrode his world, lending his name to more museums, streets, monuments and public institutions than any other 20th-century figure.

Mongolia Investment Group Ltd. : Resignation of an Independent Non-Executive Director, a Member of Audit Committee and Chairman of Nomination and Remuneration Committees

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.

Azerbaijan, Turkey, Kyrgyzstan, Mongolia form Armed Forces of Turkic States

Azerbaijan, Turkey, Kyrgyzstan and Mongolia have formed the Armed Forces of Turkic States with a horse as their symbol.

Jilin to enhance co-op with the DPRK, Russia, Mongolia

Jilin province in Northeast China will speed up the development of the Changchun-Jilin-Tumenjiang pilot zone in the next five years, to enhance the cooperation with the Democratic People's Republic of Korea, Russia and Mongolia, according to a leading official from Jilin government.

Mongolia Cuts Rate 75 Bps As Inflationary Pressures Ease

The central bank of Mongolia cut its policy rate by 75 basis basis points to 12.5 percent due to a decline in demand-pull and supply-driving inflationary pressures but said it was cautious about easing considering uncertainties in foreign trading and foreign investments.

Win for Australian met coal producers

PRICES for Australian metallurgical coal are set to benefit from uncertainty over future production from the emerging provinces of Mozambique and Mongolia.

Mongolia’s State of the Macro

It is January 2013 and the time has come to reflect on the year past, the progress achieved, the mistakes made, the promises kept and the resolutions forgotten.

Breckenridge International Snow Sculpture Championships Awards Mongolia 1st Place

The 23rd annual International Snow Sculpture Championships in Breckenridge is an eagerly-awaited event that brings the Colorado snow to life.

Mongolia’s Biggest Coal Miner Loses Executives in Cost Cutting

Erdenes Tavan Tolgoi, the biggest state-owned coal company in Mongolia, said its two most senior foreign executives resigned as part of cost cuts at the cash strapped company.

Chalco threatens legal action in Mongolia deal

The Aluminium Corporation of China, or Chalco, said on Monday it will take legal action if Mongolia breaks its long-term coal supply contract.

Tuesday, January 29, 2013

Australia lifts role in Mongolia

While Western financial blogs in 2012 decried the rise of Mongolian resource nationalism as well as continuing corruption in Mongolia's mining sector, Australia, cautiously yet successfully, has maneuvered through the same environment to significantly increase its investment and political footprint.

FACTBOX-Key political risks to watch in Mongolia

ULAN BATOR, Jan 29 (Reuters) - Mongolia's new Prime Minister Norov Altanhuyag starts 2013 with investors increasingly worried about the outlook for the all-important mining sector.

Mongolia’s Erdenes COO Hancock Said to Resign on Cash Crunch

Graeme Hancock, chief operating officer of Erdenes Tavan Tolgoi, resigned as Mongolia’s biggest state-owned coal company faces a cash crunch that’s disrupted shipments to China, a person familiar with the situation said.

China-Mongolia Coal Spat Heats Up

Escalating a standoff with Mongolia over access to a portion of its rich coal reserves, a Chinese state-run company threatened to seek legal action if its Mongolian partner fails to abide by their contract.

Monday, January 28, 2013

REPORT ON MISSIONTO MONGOLIA ONTOURISM MARKETING

From July 20-24, 2012, UNWTO organized a mission to Mongolia.

MONGOLIA: RISK ASSESSMENT

Country Rating: C

Business Climate Rating: C

Risk Assessment

Continued growth but risk of overheating

Pinoy GM So takes solo lead in 5th round of Zonal chess

Tagaytay City — Filipino teenage chess Grandmaster (GM) Wesley So defeated IM Bayarsaikhan Gundavaa of Mongolia (Elo 2522) on Friday to grab the solo lead after five rounds of the Asian Zone 3.3 Chess Championship at the Tagaytay International Convention Center here.

Ivanhoe Energy Receives Completeness Determination on Tamarack Regulatory Application

Winter Data Acquisition Program Initiated

Winter and spring campsites will be addressed besides ger districts

The plenary session meeting of the Parliament discussed the draft laws related to amending the law on addressing the law on the legal condition of the capital city.

East Asia Minerals Corporation Restarts Exploration Program at Its Miwah Gold Project in Indonesia

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/28/13 -- East Asia Minerals Corporation (TSX VENTURE: EAS) ("East Asia Minerals" or "the Company") announces that it is restarting exploration at its Miwah Project located in Aceh Province of Indonesia.

Prime Minister cautions chairmen

The Prime Minister of Mongolia N.Altankhuyag held a video conference with the administrations of ministries and agencies.

Antonio shines anew

Men

Australia Finds a Way to Raise Its Economic and Political Profile in Mongolia

While Western financial blogs in 2012 decried the rise of Mongolian resource nationalism as well as continuing corruption in Mongolia’s mining sector, Australia, cautiously yet successfully, has maneuvered through the same environment to significantly increase its investment and political footprint.

Lenin on "Left-Wing" Communism in Great Britain

There was no Communist Party in Great Britain when Lenin wrote "Left-Wing" Communism an Infantile Disorder [LWC] (the Communist Party of Great Britain was founded a few months later at the end of July 1920).

Mongolia ditches tyrant-osaurus Lenin for the real thing

BEIJING: Once he bestrode his world, lending his name to more museums, streets, monuments and public institutions than any other 20th-century figure.

China's Chalco threatens legal action in coal dispute

Jan 28 (Reuters) - The Aluminum Corporation of China (Chalco) said on Monday that it would seek legal redress if Mongolia sought to break a coal sales agreement signed in 2011.

Ts.Elbegdorj meets President of Swiss Confederation

The President of Mongolia Ts.Elbegdorj, who has attended the World Economic Forum in Davos, Switzerland, met with the President of Swiss Confederation Ueli Maurer and shared opinions on the bilateral cooperation and relationship regarding the direction of democracy and its situation in Mongolia.

Mongolia Counts on Chinese Rivals to Break Coal Deal Impasse

--Mongolia asks China's largest coal producer Shenhua Energy to step in on coal impasse
--Mongolia in dispute with Chalco over terms of coal-for-loan deal
--Government won't hold IPO for Tavan Tolgoi until mine infrastructure in place

It's goodbye Lenin, hello dinosaur as fossils head to Mongolia museum

Once he bestrode his world, lending his name to more museums, streets, monuments and public institutions than any other 20th-century figure.

Interview: China-Mongolia relationship at its best in history: ambassador

ULAN BATOR, Jan. 28 (Xinhua) -- China and Mongolia have made great efforts to deepen their strategic partnership established in 2011 and their relationship is currently at its best in history, Chinese ambassador Wang Xiaolong told Xinhua in a recent interview.

Sunday, January 27, 2013

Davos 2013: partnership makes impact on water crisis

Five years ago, the UN secretary general Ban Ki-moon warned business, NGO and government leaders gathered in Davos about the impending water crisis in many developing countries.

Conversation with IR

I had about a half-hour cenversation with Matthew Emery in Prophecy's Investor Relations yesterday.

Too strong

Standings after five rounds:
(Filipinos unless stated)

So regains Asian Zonal top spot

Individual Standings after round 5: 4.5 points—GM Wesley So (PH); 4.0—GM Nguyen Ngoc Truong Son (Vietnam); 3.5—GM Susanto Megaranto (Indonesia), FM Gombosuren Munkhgal (Mongolia), GM Darwin Laylo (PH), GM Rogelio Antonio Jr. (PH), IM Nguyen Doc Hoa (Vietnam); 3.0—FM Haridas Pascua (PH), GM Rogelio Barcenilla Jr. (PH), IM Bayarsaikhan Gundavaa (Mongolia), FM Tran Tuan Minh (Vietnam), IM Barlo Nadera (PH), GM John Paul Gomez (PH), GM Richard Bitoon (PH), FM Mari Joseph Turqueza (PH), GM Cao Sang (Vietnam), IM Nguyen Van Huy (Vietnam)

Pinoy GM So takes solo lead in 5th round of Zonal chess

Tagaytay City — Filipino teenage chess Grandmaster (GM) Wesley So defeated IM Bayarsaikhan Gundavaa of Mongolia (Elo 2522) on Friday to grab the solo lead after five rounds of the Asian Zone 3.3 Chess Championship at the Tagaytay International Convention Center here.

So nips Mongolian, grabs solo lead in Asian Zone 3.3

Filipino Grandmaster (GM) Wes­ley So secured the solo lead in the fifth round of the Asian Zone 3.3 Chess Championship after beating Mongolian International Master Bayarsaikhan Gundavaa at the Tagaytay International Convention Center on Friday in Tagaytay City.

So grabs solo lead in Asian chess

TAGAYTAY CITY - Filipino teenage chess wonder Wesley So claimed solo leadership in the fifth round of the Asian Zone 3.3 Chess Championship at the Tagaytay International Convention Center on Friday.

News Round 5: Wesley So grabs solo lead in Asian Chess

Individual Standings after round 5: (Open Division, Nine Round Swiss-System/ 42 player's field)

Wanders never cease: The nomadic life of Mongolia's Kazakh eagle-hunters

The Kazakh nomad's hand rocks forwards in a gentle stroking motion and the eagle needs no keener reminder of the business of the day, springing from her master's wrist like a fluid extension of his will, gaining the thin, freezing-cold upper air with a few strokes of her vast wings.

Saturday, January 26, 2013

New idea, new technology

The second international trade fair and conference for small and medium enterprises “Future Mongolia 2013” will take place from 19th- 22nd June 2013 in Ulaanbaatar.

How is the stand of SME financing?

Small and medium enterprise is a main foundation for Mongolian business sector.

New Policy of the Bank of Mongolia

The Bank of Mongolia managed to stabilise inflation without increasing the monetary policy rate.

Supporting green education

As the Ministry of Environment and Green Development of Mongolia names 2013 as an environmental education year, the Ministry is aiming to concentrate more on supporting children and youths environmental education.

Centerra Gold responds to rumours of Kumtor’s mine licence cancellation

Canadian Centerra Gold (TSX:CG) said Friday the company has not been approached about an alleged revocation of its mining license for the Kumtor open pit gold mine in Kyrgyzstan, as local media reported yesterday.

Tavan Tolgoi contractor could face possible funding hitch

Australia’s Macmahon Holdings , the mining contractor at Mongolia’s giant Tavan Tolgoi coal mine, may face a problem there after April if its client Erdenes Tavan Tolgoi does not sort out funding problems, a senior executive said on Friday.

No big Google bash at Davos this year

DAVOS, Switzerland - (AP) -- What's the hot gossip on the party circuit at Davos this year? No big Google bash.

From Russia with a love of horses

Thousands of kilometres separate the border region of China, Mongolia and Russia where Bob Onikul lived to his Rosehill stable but for the trainer the journey has been about one thing - a love of horses.

Stealapipe to tackle Australia Day Cup 2013

Thousands of kilometres separate the border region of China, Mongolia and Russia where Bob Onikul lived to his Rosehill stable but for the trainer the journey has been about one thing – a love of horses.

Man handed 5½-year prison term for scamming Asashoryu

A 78-year-old Japanese businessman was sentenced to 5½ years in prison Friday for swindling former Mongolian yokozuna Asashoryu out of $1.1 million.

Volvo pavers resurface desert highway

Four Volvo pavers are being used to renew the surface of China’s first desert expressway – stretching through more than 134 km of barren land to the borders of Inner-Mongolia.

Problems at the world's largest coking coal mine escalate

Mongolia’s state-owned mine Tavan Tolgoi has been forced to freeze its coal sales and postpone a planned public listing after having to fund cash handouts to the electorate.

Mongolia: Eagle Hunting Sustains Kazakhs’ Living Legacy

“It’s good, yes? It’s veeeery good!” Orisbai Shatirbai laughs giddily, as Hiran, his five-year-old golden eagle, perches over the large fox it has just caught on the Mongolian steppe.

Friday, January 25, 2013

Australia's Macmahon faces possible funding hitch in Mongolia

MELBOURNE, January 25 (Reuters via Mining Weekly) - Australia'sMacmahon Holdings , the mining contractor at Mongolia's giantTavan Tolgoi coal mine, may face a problem there after April if its client Erdenes Tavan Tolgoi does not sort out funding problems, a senior executive said on Friday.

Centerra Gold 2012 Fourth Quarter and Year-End Results Conference Call and Webcast

TORONTO, ONTARIO--(Marketwire - Jan. 24, 2013) - Centerra Gold Inc. (TSX:CG) will host a conference call and webcast of its 2012 fourth quarter and year-end financial and operating results at 10:00AM Eastern time on Thursday February 21, 2013.

Xanadu: Quarterly Activities Report

January 24, Xanadu Mines Limited (ASX:XAM) --

Wolf: QUARTERLY ACTIVITIES REPORT

January 24, Wolf Petroleum Limited (ASX:WOF) --

5,700 miles in reverse...My Trans-Siberian adventure from Vladivostok to Moscow

Why are you going on the Trans-Siberian railway in winter when it's dark and cold?' asked my friend Jon. 'And why are you starting from Vladivostok, the wrong end?'

What's happening

Relive the wild, musical days of yore when the Hottell Ragtime Jazz Band gives its annual concert at the Antlers next Wednesday (Jan. 30). (File photo by Sue Misao)

Elaine set for Belfast to Ulan Bator rally

LIMAVADY artist Elaine Taylor will embark on the adventure of a lifetime this summer when she rallies the 10,000 kilometres from Belfast to Ulan Bator through some of the most remote desert and mountain terrain on the planet.

New regulations to prohibit smoking in public places

According the amendments made to the Tobacco Control Law of Mongolia in October 2012, smoking will be banned in all public areas, including bars, restaurants, office buildings, playgrounds, parks, trains, airport and train stations, and apartment stairwells from March 01, 2013.

Tsagaan sar exhibition starts

Due to the coming-up Mongolian National Holiday Tsagaan Sar, the Ulaanbaatar city Governor E.Bat-Uul has ordered some measures to be taken during the days leading up to the holiday.

Prime Minister called on UN for cooperation

On Thursday the Prime Minister N.Altankhuyag has called on Ms. Sezin Sinanoglu, the UN Resident Coordinator in Mongolia to change views on bilateral cooperation between Mongolia and the UN.

Monnis bus stop to be removed

The decision to evacuate a bus stop in front of Monnis tower to Central library parking by Public Transportation Office sparked public speculation that Monnis authorities biased to the decision.

Asia Stocks End Mixed; Japan Outperforms


 NamePrice Change%Change
NIKKEINikkei 225 Index10926.65 305.782.88%
HSIHang Seng Index23580.43 -18.47-0.08%
ASX 200S&P/ASX 2004835.20 24.900.52%
SHANGHAIShanghai Composite Index2291.30 -11.29-0.49%
KOSPIKOSPI Index1946.69 -17.79-0.91%
CNBC 100CNBC 100 ASIA IDX6904.05 -8.42-0.12%

Baosteel March 2013 prices hike update

Global Times reported that Baoshan Iron & Steel Co would raise the prices of its major products in March by CNY 100 to CNY 300 (USD 16.08 to USD 48.24) per tonne, or around 5% of its February price, due to increasing orders and rising costs.

Baogang fixed asset investments total RMB 13.3 billion in 2012

Inner Mongolia based Chinese steelmaker Baotou Iron and Steel Co announced that in 2012 its fixed asset investments amounted to CNY 13.3 billion up 52.7% compared with CNY 8.709 billion recorded in 2011.

Man jailed for cheating ex-sumo champ Asashoryu

Takeo Kikuchi conspired with an associate in 2009 to cheat the then-champion, whose real name is Dolgorsuren Dagvadorj, by saying they needed the money to help develop projects in Mongolia, the Tokyo District Court said.

Chang's Mongolian Grill

Restaurant Details

Mongolia postpones Tavan Tolgoi IPO

Mongolian state owned Erdenes Tavan Tolgoi has dropped plans to hold an IPO in 2013 after running into financial difficulties that have forced it to suspend exports to China.

Mongolia taps Shenhua to break China coal impasse

BEIJING--Mongolia is reaching out to China's largest coal producer China Shenhua Energy [1088.HK] in an effort to break a deadlock over the terms of a souring coal supply deal with another Chinese giant, Aluminum Corp. of China [ACH], Mongolia's ambassador to Beijing said Friday.

Inner Mongolia: Illegally Detained Cultural Rights Activist Denied Treatment

Hada, a campaigner for the preservation of Mongolian culture, is suffering severe psychological problems in prison, but Chinese authorities are denying treatment.

Investors fear impact of Mongolia's new mining law

The new mining law currently under consideration in Mongolia has alarmed foreign investors, who fear it will not only deter investment in the mining sector, but have knock-on effects in other parts of the economy.

Inner Mongolia hosts art auction

The Inner Mongolia autonomous region will host an art auction at the Sheraton Hotel in its capital Hohhot on Saturday after a two-day preview exhibition.

Mongolia Bets on China Rivals to Break Impasse

BEIJING—Mongolia is reaching out to China's largest coal producer, China Shenhua Energy, in an effort to break a deadlock over the terms of a souring coal-for-loan deal with another Chinese resource company, Aluminum Corp. of China Ltd., according to Mongolia's ambassador to Beijing, Tsedenjav Sukhbaatar.

China's state-owned resource giants often compete with each other—at least in the early stages—in securing projects, and Mongolia may be counting on the Chinese companies' innate sense of rivalry to prompt renegotiation of an increasingly untenable resource deal.

A deepening disagreement with China—Mongolia's largest trading partner—over the deal highlights moves to regulate foreign investment in the country's fledgling mining sector that could throw into disarray the development of Tavan Tolgoi, potentially the world's largest untapped coal reserve.

State-owned Erdenes-Tavan Tolgoi LLC, which owns the project, has halted coal exports to China in a bid to renegotiate the July agreement, under which Aluminum Corp. of China, also called Chalco, lent Tavan Tolgoi $350 million to be repaid in coal but capped the commodity's price at $70 a metric ton, Mr. Sukhbaatar told The Wall Street Journal.

"Chalco was just using a moment when the government badly needed funding to get a deal that was unacceptable in the sense of normal international trade, he said.

The management team at Tavan Tolgoi, appointed last fall by the freshly elected Mongolian government, has repaid nearly two-thirds of the loan, and now wants to change the contract to reflect fluctuating market prices for coal, he said. Coking coal import prices are about $190 a ton, according to the 52Steel.com consultancy, though they were even higher at the time the Chalco deal was reached. (Russian coal imports cost $229 a ton including transport and taxes.)

A failure to come to new terms led, in part, to Tavan Tolgoi being unable to continue to pay for transportation and exportation of the coal to China, he added.

Mongolia may be hoping Shenhua, which is in the running to develop the western half of Tavan Tolgoi, will work to resolve the impasse with a focus on gaining goodwill in its bid for the project.

"What we're trying is to deal with Shenhua as the principal and the biggest coal company" in China, he said. "They have the infrastructure. They are the international company. Chalco has nothing to do with coal."

In July, Ulan Bator awarded rights to develop Tavan Tolgoi's western area to Shenhua,Peabody Energy Corp. BTU -1.24% and a Mongolia-Russia consortium with 40%, 24% and 36% stakes, respectively. But complaints from competing countries about the bidding process led the government to hastily withdraw the decision. Mongolia hasn't made any final decision on the development rights.

An official in Shenhua's media department said Friday that the company needed to study the issue and had no immediate comment. Chalco said in a statement that it hoped Mongolia would honor all the terms of its agreement, "including confidentiality arrangements." Chalco has also said it dispatched a team in November to Tavan Tolgoi to convey Beijing's views.

Public opposition to the division of the spoils in Mongolia's newfound mining wealth in recent years prompted the new Mongolian government, elected on a crest of resource nationalism last June, to redraw policies seen as overly favoring global mining interests and potentially creating overreliance on China.

But Mr. Sukhbaatar said Friday that the Chalco coal stalemate wasn't tied to any of the proposed changes, which include proposed amendments to the country's mining law. The law, if amended, won't affect existing deals, he said.

The changes essentially would devolve project approval power to local governments and require miners to conduct "at least initial processing" before exporting coal and mineral ores, he added.

Business leaders and investors have been less sanguine about the proposed amendments. The Business Council of Mongolia said in an open letter earlier this month that the changes could "halt current minerals exploration and development in Mongolia and greatly discourage any future investment."

Exports of all other types of Mongolian commodities are proceeding as normal, Mr. Sukhbaatar said.

Tavan Tolgoi isn't likely to hold an initial public offering this year as previously planned, as Ulan Bator would prefer the mine's infrastructure to be in place, which would potentially improve the offer price, he said. Mongolia was initially seeking $3 billion in the IPO.

Mongolia Cuts Rates for First Time Since 2009 to Support Growth

Mongolia’s central bank cut interest rates for the first time since 2009 after determining that the outlook for inflation is benign and deciding to “cautiously” ease policy, its chief economist said.

Mongolian parliament debates use of Chinggis Khan Name and Image

Mongolia’s legislature began debating a law on regulating the use of Chinggis Khan’s name in a bid to prevent the memory of the legendary conqueror from being cheapened.

Baganuur to mine 3.5 Million tons of coal in 2013

The Baganuur Joint Stock Company is a strategically important mine, located in 130 kilometers east of Ulaanbaatar, supplying over 70% of the coal required for the Central regional electric system.

5,600 tons of hay sent to affected provinces

The assistance team of the State Special Commission has transported 5,600 tons of hay to the provinces affected by the severe winter conditions this year.

D.Gankhuyag: Petroleum price increases could have been larger

The Minister of Mining, D.Gankhuyag, has submitted to the Speaker of Parliament Z.Enkhbold proposals to make changes to the Special Approval for Industry and Enterprises Operations Law, and to the law concerning petroleum-based products.

An interview with a state honored trio

The following interview is with three close friends; State Prize Winner-State Honored Actor D. Sosorbaram, Chairman of Gamma Agency-S. Tsatsralt and State Honored Laborer cartoonist-S. Tsogtbayar.

B.Azbayar: Street art is a stage to express my views

Freelance artist B.Azbayar (A.K.A Mazaalai) is an artist specializing in street art.

Outstanding artists perform at Virtuoso 2013 concert

The Virtuoso annual gala concert, which brings together the greatest and most outstanding performing artists of the year, took place on Saturday night at the Central Cultural Palace.