Mongolian Economy and Finance

Fair mineral development in Mongolia was the issue the World Economic Forum drew almost 100 business, government and civil society leaders together in June to tackle. The Mongolian Presidency, which has just finalized an agreement to start operations on one of the world's richest iron ore and copper deposits which is expected to contribute significantly to its GDP, co-hosted the roundtable in Ulaanbaatar.

Mongolia attaches great importance to developing ties with Vietnam – an important partner in Southeast Asia, says Mongolian President Ts.Elbegdorj.

Luhanskteplovoz [LTPL UZ, BUY], the leading Ukrainian locomotives producer, intends to sign a contract with the help of Transmashholding (LTPL’s owner) with Mongolian Railways for the delivery of 13-15 locomotives between now and 2011, said LTPL’s CEO, Mr. Bykadorov. He also added that the company is in negotiations with Syria regarding the modernization of locomotives and the delivery of new equipment.

June 29 (Bloomberg) -- Mongolia plans six initial public offerings in Hong Kong, the head of the European Bank for Reconstruction and Development in Mongolia, Philip ter Woort, said in Moscow.

ULAN BATOR, Jun 29, 2010 (Xinhua via COMTEX) -- Mongolia and Saudi Arabia on Tuesday pledged to step up their cooperation in the mining and minerals sectors.

LONDON, England - Rio Tinto (NYSE:RTP) said Tuesday that it is increasing its stake in Ivanhoe Mines Ltd. (TSX:IVN) by 7.3 per cent to almost 30 per cent as Ivanhoe continues to develop its Oyu Tolgoi copper-gold project in Mongolia.

Purchase of Shares Worth US$393 Million Increases Rio Tinto Ownership in Ivanhoe Mines to 29.6% Funds to Be Used to Advance Construction of the Oyu Tolgoi Copper-Gold Mining Complex in Mongolia.

Mongolia’s economy started to recover as global commodity prices picked up and the government adopted an extensive policy reform program, stated Asian Development Bank’s (ADB) recent report on the country’s economic outlook. Following is an excerpt of the report.

Local Mongolian business communities and non-profit organizations lately tend to pressure more on the government to support Mongol-999 Joint Stock Company, a national consortium that joined around 2,000 private businesses in a hope to win Tavan Tolgoi project.

Mongolia Monday said it was looking for increased trade and commerce with India in the fields of mining and information technology.

HONG KONG, CHINA, Jun 28, 2010 (MARKETWIRE via COMTEX) -- Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. /quotes/comstock/11t!e:sgq ( CA:SGQ 12.71, +0.21, +1.68%) (SEHK: 1878), announced today that the company has commenced construction of a coal-handling facility ("CHF") at its producing Ovoot Tolgoi coal mine in southern Mongolia.

Mothers are hopeful to give birth in a more secure and comfortable environment. Government head and Health Minister promised that a new maternity hospital would be built and current maternity hospitals will be modified by next year. After seeing the maintenance work and activity of Maternity Hospital #1 on June 18, Prime Minister S. Batbold said, “I met mothers and they are satisfied. It is the start of our works to be implemented for the health of mothers and infants.

Investment firm Origo Partners has stepped up its presence in Mongolia by putting money into two exploration companies based in the region.

Celebrations commemorating the 60th anniversary of establishing diplomatic relations between Poland and Mongolia will be held on June 28th 2010 in Warsaw. The celebrations will be hosted by Foreign Minister Radosław Sikorski and Ambassador of Mongolia to Poland Otgon Dambiinyam.

Hanoi (VNA) -Mongolian President Tsakhiagiin Elbergdorj has emphasised the significance of the country's relationship with Vietnam , an important Southeast Asian partner.

ULAN BATOR, Mongolia (AP) - Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the south, the latest move in the long-delayed project that will help make the poor but mineral-rich nation less dependent on exporting to China.

(RTTNews) - Moody's Investors Service said Thursday that the Northeast Asian banking system outlook remains stable.

TORONTO, June 24 /CNW/ - Polo Resources, the mining company with coal and uranium interests in Africa, Australia and Asia, announces further to the announcement on 27 April 2010 regarding Caledon Resources plc ("Caledon"), Polo no longer intends to make an offer to acquire the entire issued and to be issued share capital of Caledon.

* Still interested in Australia expansion * Looking at Mongolia mine operations * Exploring West Coast port for Asian exports

It is reported that a new 4500 meter resource drilling program at Aspire Mining’s Ovoot Coking Coal Project in northern Mongolia has intersected significant coal seams. The company has completed two holes to target depth 1.5km apart, both of which intersected significant coal seam thicknesses. One hole intersected 20 meters from 143 meters depth and the second intersected 6.2 meters from 99 meters. Drilling of the former hole is continuing.

Mining ties An Indian delegation consisting of officials from both the Government and private sector visited Mongolia recently

June 23 (PTI) -- Mongolia that possesses some of the world's largest mineral resources like copper, gold, uranium and coal, wants to partner with India to develop its mines and infrastructure sector, a top Mines ministry official said today.

As the search for new mineral deposits sends companies to the far reaches of the globe, emerging economies play a vital role. The lack of exploration and development in these economies has kept vast mineral wealth largely untapped. This is evident in the new reports of Afghanistan’s mineral wealth, which should come as no surprise.

DANVILLE, Calif., Jun 23, 2010 (GlobeNewswire via COMTEX) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) today announced that the company's Chairman and CEO Jim Bickel has attended a conference titled "Mongolia: Capital Raising" held on June 15-16, 2010 at the Chinggis Khaan Hotel in Ulaanbaatar, Mongolia. This annual conference focused on capital raising by Mongolian private sector and the Mongolian government by way of privatization and/or sovereign bond issues. According to conference organizers, investment opportunities in Mongolia have become exponentially abundant as the country is aggressively emerging from severe economic crisis last year and its mining sector is poised to boom.

Petro Matad (LON:MATD) has spudded the Davsan Tolgoi-1 (DT-1) exploration well, the first to be drilled in the 2010 campaign on the company’s Production Sharing Contract (PSC) on Block XX in Eastern Mongolia. DT-1 is being drilled vertically to an estimated target depth of approximately 1,440 metres, and drilling is expected to take 30 days to complete.

Origo Partners Plc ("Origo") is pleased to announce that it has strengthened its presence in Mongolia by completing investments in two Mongolian based exploration companies following its successful placing to raise US$30 million on 11 June 2010. Both companies have exploration licenses in areas where significant mineral occurrences have already been identified and are led by teams with experience in identifying and developing Mongolian mineral assets.

Recently SGK discussed a draft law on decreasing investment agreement length from 30 years to 15 years. This draft law was presented on July 2009. There were some Q&A session on the draft before MPs approved to discuss the law at the general session of SGK.

North China's Inner Mongolia Autonomous Region has secured its first ever deal to export breeding pigs to the Republic of Mongolia, with a shipment of 60 animals set for August, the exporter announced Tuesday.

ULAN BATOR, June 22 (Xinhua) -- China's Inner Mongolian Autonomous Region and neighboring Mongolia have vowed to expand economic, educational and cultural cooperation fight desertification.

TORONTO - Khan Resources Inc. (TSX:KRI) says it's pursuing legal action to recover what it alleges was "illegal expropriation" of its uranium licences in Mongolia and has hired a Washington, D.C. law firm to handle the case.

LEIGHTON Holdings says it is on track to achieve its expected full-year profit of more than $600 million, as the world's biggest contract miner looks at expansion overseas.

TORONTO, ONTARIO, Jun 22, 2010 (MARKETWIRE via COMTEX) -- Khan Resources Inc. /quotes/comstock/11t!e:kri ( CA:KRI 0.24, -0.01, -2.08%) ("Khan" or the "Company") announced today key organizational changes, as well as an important update about legal actions it is pursuing in the fight to protect its interests in Mongolia and to preserve and enhance value for its shareholders.

Z.Enkhbold, Head of the Standing Committee on Security and Foreign Policy shares his opinion on Tavan Tolgoi.

ULAN BATOR, June 22 (Xinhua) -- Mongolian Prime Minister Sukhbaataryn Batbold said Tuesday Chinese Premier Wen Jiabao's visit to Mongolia early June contributed significantly to bilateral relations and cooperation, especially in economic and commercial ties.

A look at the difference between steel industry metals and LME metals, the impact of a relaxed yuan, a bit on precious metals and the outlook for Mongolia

Central Bank directors have decided to keep the policy rate unchanged at 11 percent.

The President’s Office last week organized a two-day conference on proper development of the mineral sector under the auspices of Davos Economic Forum, an organization set up under suggestions from President Ts.Elbegdorj. It was attended by representatives from the Government, investors, civil unions and experts in the field.

The 36th meeting of the Asia-Pacific Trade Agreement (APTA) will be held June 21-22 in the Ministry of Foreign Affairs of Mongolia.

Construction giant Leighton Holdings Ltd has reiterated that it is track to achieve its expected full year profit and has a strong balance sheet.

TOKYO, June 21 (AP) - (Kyodo)— Japan and Mongolia will hold two-day talks in Ulan Bator from Thursday to study whether the two countries should conclude a bilateral free trade agreement, the Japanese government said Monday.

Queensland-based mining technology services company Runge has won a significant scoping study contract for a Mongolian mining house just months before opening its own office within the country.

June 21 (Bloomberg) -- China, the world’s second-biggest energy user, increased coal imports by 17 percent in May because of a rebound in the economy.

Ivanhoe Mines (NYSE:IVN) (TSE:IVN) went against the grain of gold prices today, and pushed up over 2 percent, gaining $0.30, or 2.02 percent at the close in New York.

Kh. Battulga, Minister for Road, Transport, Construction and Urban development was interviewed about the railway policy:

VANCOUVER, BRITISH COLUMBIA, Jun 21, 2010 (MARKETWIRE via COMTEX) -- Prophecy Resource Corp. ("Prophecy" or the "Company") /quotes/comstock/11v!e:pcy ( CA:PCY 0.58, 0.00, 0.00%) (PINK SHEETS: PRPCF)(FRANKFURT: 1P2) is pleased to report the successful completion of its spring exploration program on its 100% owned Chandgana-Khavtgai license in Khentii aimag (province), Mongolia. The work program consisted of 12 drill holes for a total of 2,205 metres including 903 metres of core drilling, and five lines of seismic geophysical survey for a total of 7.4 line km.

ULAN BATOR, Jun 20, 2010 (Xinhua via COMTEX) -- Foreign tourist arrivals to Mongolia have surged 59 percent in the first five months of 2010, compared to the same period of last year, the Ministry of Nature, Environment and Tourism said Sunday.

Text of report in English by official Chinese news agency Xinhua (New China News Agency) [Xinhua: "Mongolian President Speaks Highly of Relations With China"] ULAN BATOR, June 19 (Xinhua) - Mongolian President Tsakhia Elbegdorj said here Friday that the good-neighbourly partnership of mutual trust between his country and China is developing across all areas.

On a bright and breezy summer's afternoon in the Mongolian capital of Ulaanbaatar, Wal King, is enjoying a favoured pastime: walking.

June 18 (PTI) -- India is looking at possible tie-ups with Mongolia in the fields of mining, technical cooperation and development of infrastructure, a top official today said.

Matt Chambers From: The Australian June 19, 2010 12:00AM RIO Tinto has refused to back an increase in the planned size of the $US4.6 billion ($5.3bn) Oyu Tolgoi copper and gold mine in Mongolia.

NEW YORK, June 17 /PRNewswire-FirstCall/ -- Peabody Energy's executives today observed that the company is in a strong position to create significant growth and shareholder value against the backdrop of very favorable long-term supply and demand fundamentals for the global coal industry. The outlook came at the company's 2010 Analyst and Investor Forum in New York, where senior executives reviewed the company's long-term projects and prospects.

A high level government and business joint delegation on mines sector, led by the Secretary, Ministry of Mines, Smt. Santha Sheela Nair, visited Mongolia and China recently. During their visit to Mongolia, the delegation called on the Prime Minister of Mongolia, Mr. Batbold S. and briefed him about the proceedings of the first JWG meeting and identification of specific issues. The Mongolian Prime Minister said that the Indian side should aim at mineral-based value addition projects and associated infrastructure development.

Aluminum Corporation of China, or Chinalco, is negotiating with Mongolia about its participation in the project of Oyu Tolgoi, a copper-gold mine of Mongolia. The earliest time for the final decision of Chinalco's participation would be in July, and the labor contract would be a booster for that.

Mongolia is set to reap large economic benefits from neighbouring China’s increasing demand for commodities over the next few decades to accommodate the country’s expected growth, according to RCM’s Asian expert Raymond Chan .

Mongolia's frontier economy and mineral wealth attracts international interest amid discussions to tap the international capital markets this year. By Rupert Walker | 18 June 2010

By Hanny Wan June 18 (Bloomberg) -- Mongolia is seeking investors to partner it in a $10 billion desert industrial complex that will allow it meet rising Asian demand for coal and copper from some of the world’s largest untapped mineral resources.

* Mongolia politicians determined to avoid China-dependency * Govt aims for diversified customer base for minerals * Split on large industrial park vs. railway construction

The mining boom pushes the aimags of the gobi to urbanise themselves.Source : Tseg.mn As the mining boom takes hold of the Gobi aimag in Mongolia, workers are required and urban centers needed. Investments to achieve this has been agreed by the ADB bank in Mongolia.

Jun 15, 2010 07:00 ET - Investment Portfolio Increases to $69.7 Million or $0.80 Per Share - Royalty Income of $514,074 Received in the First Quarter - Asset Base Continues to Benefit From Strong Gold Price Environment and Enviable Global Resource Deal Flow

Vancouver, B.C.: Meritus Minerals Ltd. (MML) (C-MER) (the "Meritus" or "Company") is pleased to announce that it has now received results from recent sampling at the Gutain Davaa Project in Mongolia. An independent consultant, who is preparing a NI 43-101 report to satisfy the requirements of the TSX Venture Exchange, and Meritus staff collected samples from the Toordogiin Shil and Toordogiin Hayr Prospects at Gutain Davaa during a recent visit.

June 16 (summarized by Mogi from www.open-government.mn ) On the same article above Government Press Office announces the start of a 245 km paved road from Energy Resources UHG mine in TT to the Gashuun Suhait Border Point. The groundbreaking ceremony was held on May 27.

June 16 ( www.open-government.mn ) Government Press Office website releases the following info regarding coal mining in TT and Nariin Suhait.

* Two banks selected on world scale mine * Funding for US$4.6bn scheme to be multi-tranched By Rod Morrison

The principal business is that of an energy and natural resources developer and currently have projects and investments in the independent nation of Mongolia and Xinjiang, PRC. As an energy and resources developer, MEC acquire concession areas, and with an international team of experts, coordinate all aspects of mine development, including exploration, mine design and extraction to international standards.

Tokyo, Seoul and Hong Kong are all jostling for a slice of the action from resource-rich and landlocked Mongolia Posted: Wednesday , 16 Jun 2010

Entree Gold Inc. (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA - "Entree" or the "Company") has filed a comprehensive NI 43-101 Technical Report ("ETR10") on SEDAR, which can be viewed in its entirety on www.sedar.com or Entree's website at www.entreegold.com .

MONGOLIA'S plan to privatise its state-owned assets will allow international investors access to some of the world's largest untapped mineral resources through initial public share sales, most likely in Hong Kong.

By Hanny Wan                               June 16 (Bloomberg) -- Mongolia’s plan to privatize its state-owned assets will allow international investors access to some of the world’s largest untapped mineral resources through initial public share sales, most likely in Hong Kong.

By Alistair Dawber Mongolia, home to potentially some of the world's largest mineral deposits, is set to float some of its state-owned mining assets after receiving proposals from a number of bourses, including the London Stock Exchange (LSE).

During consultations in Ulaanbaatar on June 15, Lithuanian Vice-Minister of Foreign Affairs Sarunas Adomavicius and Deputy Minister for Foreign Affairs and Trade of Mongolia Bayarbaatar Bolor discussed the most important aspects of bilateral political and economic relations, as well as cooperation in the areas of economy, transport, science, culture, education and renewable energy, informed BC press service of Lithuanian Foreign Ministry.

(Reuters) - Asia's major stock exchanges have launched an all-out battle for IPOs from the land of Genghis Khan, with Tokyo, Seoul and Hong Kong jostling for a slice of the action from resource-rich and landlocked Mongolia.

(Updates with details on Mongolia from 3rd paragraph.) By Hanny Wan and Lilian Karunungan June 16 (Bloomberg) -- Mongolia’s government scaled back its plans for global bond sales this year, after Europe’s debt crisis drove up borrowing costs.

Last Friday, Prime Minister S.Batbold presented his principle of Tavan Tolgoi project implementation to the State Great Khural. MPs generally, supported his idea of splitting the deposit into two parts. In his speech to the State Great Khural, Prime Minister S.Batbold said that “ …proposal of realizing Tavan Tolgoi deposit based on the will to become developed nation and creative minded people. We included solutions to provide opportunity to distribute economic benefit evenly to public using shares and to health, education and housing….”

MPRP group meeting at the State Great Khural held and discussed the issue on Tavan Tolgoi Investment Agreement and its following documents. MP D.Zorigt, Minister for Mineral Resource and Energy, made press release on the decision. The Government made two alternatives on Tavan Tolgoi operation.

Inflation at the end of May was 13.1 percent nationwide and 16.1 percent in Ulaanbaatar, where meat prices rose 50 percent and that of vegetables 20 percent. There are concerns that the inflation rate would rise to the level of two years ago, when it stood at 34 percent, with the price of wheat and flour rising the most.

HOHHOT, June 2 (Xinhua) -- At least two railways will cross north China's East Ujimqin Plain in Inner Mongolia to break a bottleneck on trade across the China-Mongolia border in the next two years.

VANCOUVER, June 15 /PRNewswire-FirstCall/ - Entrée Gold Inc. (TSX:ETG; NYSE AMEX: EGI ; Frankfurt:EKA - "Entrée" or the "Company") is pleased to announce that the Federal Court of Australia has approved the schemes of arrangement ("Schemes") between PacMag Metals Limited ("PacMag") and its shareholders and optionholders to effect a merger between PacMag and Entrée ("Transaction").

June 16 (Bloomberg) -- Hong Kong Exchanges & Clearing Ltd. has met Mongolian mining companies seeking to list in the city, said Chief Marketing Officer Lawrence Fok, who is in the North Asian country for a forum on corporate capital raising.

BBC Mon Asia-Pac: Mongolian industrial output up 12.2 per cent in first five months over 2009 2010-06-14 12:49:32.598 GMT

Hunnu Coal Starts Drilling at the Unst Khudag Coal Mine. Hunnu Coal, Australia listed mining company, which acquired 60% of the Unst Khudag Coal mine on April 12, 2010 announced today that it commenced an exploration and development drilling programme at the mine. According to the Company, the programme intends to confirm the current exploration target of 250mn tonnes to 500mn tonnes of coal within the mining license area and to identify the extent of the coal seam into the adjacent licensed exploration area. A total of 33 drill holes are expected to be completed for approximately 5,000 metres. The findings from the exploration and drilling programme will be released in coming months, according to Hunnu Coal.

Mongolia Energy Corporation Limited (HKSE: 276) ("MEC" or the "Group") is pleased to announce that Mr. Dennis Carl Price ("Mr. Price") has joined the Group as Chief Operating Officer - Mongolia, effective May 14, 2010.

Ivanhoe Mines (NYSE:IVN) may have positioned themselves as one of the top mining companies of the future, as their stake in the copper-gold mining project Oyu Tolgoi in Mongolia, ensures them a place among the top mining companies at minimum, and potential to be among the largest.

Perth, Australia-based coal miner Hunu Coal, which has assets in Mongolia, has recently announced that it has acquired a 60 percent interest in the Buyan coal project, which is located within the giant Tavan Tolgoi coking coal field in the Umnugobi province of Mongolia.

Mongolia is looking for foreign investors to help it boost domestic crude oil production tenfold in the next three years, a senior Mongolian diplomat said today.

King Solomon Mines is undertaking drilling at its Bu Dun Hua, Marmot and Deyinhar North gold, copper and molybdenum prospects in Mongolia.

The first ore reserve estimate for Entrée Gold’s Hugo North Extension deposit shows probable reserves of 27 million tonnes grading 1.85% copper and 0.72 grams/tonne gold.

ULAN BATOR June 15 (Reuters) - Mongolia plans to list its Oyu Tolgoi mine, one of the world's biggest untapped copper and gold deposits, and is receiving proposals from global stock exchanges to assist with turning its state-run stock market into a private enterprise, a government official said on Tuesday.

The Government of Moldavia held an underwater meeting last year to draw international attention to climate change. Like this, President Ts. Elbegdorj announced at Copenhagen Conference that the Government Cabinet of Mongolia will hold a meeting in the desert in order to draw international attention to desertification. Accordingly, the Office of the Government had been preparing for Cabinet meeting in Omnogobi. However, the meeting has been delayed until September.

Foreign Minister G. Zandanshatar took part in ministerial meeting as a part of 3rd Summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA), which was held in Istanbul, Turkey and also closed significant negotiation for Mongolia.

ULAN BATOR, Jun. 12, 2010 (Xinhua News Agency) -- Mongolia had set a quota of 240 saker falcons for export this year, Minister of Environment, Nature and Tourism L. Gansuh said Friday.

The Representative Administrative Board of Oyutolgoi LC has held its first meeting with G.Batsukh in the chair. Over two days the board discussed and then approved working procedures and also set the date of the next meeting.

Tavan Tolgoi coal deposit will be under 100 percent state ownership and every Mongolian will enjoy a preference to own shares of Tavan Tolgoi, a leading coal deposit in the world with a reserve of 6.4 billion tonne.

Deputy Minister for Finance T.Ochirkhuu answers questions on the state budget.

Shenhua, China’s leading coal miner, has been interested in Tavan Tolgoi since 2003. The company’s president Ling Wen recently said Shenhua had submitted its bid for a second time, adding that it “has the greatest competitive advantage over other bidders”.

THE governments of China and Mongolia are discussing a potential labour agreement which, if finalised, will transfer 2500 Chinese to work for the copper-gold mining project Oyu Tolgoi in Mongolia, the 21st Century Business Herald reported yesterday.

Aluminum Corporation of China , or Chinalco, a large Chinese resources company, is now negotiating with Mongolia about its participation in the project of Oyu Tolgoi, a copper-gold mine of Mongolia. If a labor contract is signed successfully, about 2,600 Chinese workers are expected to work for the project, said a member of the Chinese delegation on Thursday.

Petro Matad (LON:MATD) has restarted operations at its Davsan Tolgoi prospect in Block XX, in Mongolia's Dornod Aimag Province, after the foot-and-mouth enforced restrictions were lifted. On 1 June, the company had to suspend operation, as the governor of Dornod Aimag imposed blanket vehicle and personnel movement restrictions in and out of the area.

Mongolia’s largest drinks company is to expand its beer production after securing a US$25m loan from the European Bank for Reconstruction & Development (EBRD).

Business Financial Newswire - Private equity investor Origo Partners plans to raise up to $30m via a placing through an accelerated book-building process.

The government of Mongolia made decision to support infrastructure, processing industry and realization of major mining projects. The Cabinet Ministers’ Meeting resolved to present the draft amendment law on Value Added Tax Law. If the State Great Khural passes the amendment, some products will be exempted from tax.

2010-06-10 12:32:23.411 GMT Text of report in English by Mongolian news agency Montsame website [By B. Huder] Ulaanbaatar: The ambassador extraordinary and plenipotentiary of Mongolia to the Russian Federation, D. Idevhten, met Wednesday [9 June] V.I. Yakunin, president of the Russian Railways open stock venture (OSV).

Jun 10, 2010 (BBC Monitoring via COMTEX) -- [Correspondent] Bilateral dialogues, which take place within the framework of large forums, give an opportunity to review the priorities of interstate relations from the point of view of demands of modern times.

By Millie Munshi June 11 (Bloomberg) -- Centerra Gold Inc., the owner of the Kumtor mine in Kyrgyzstan, said it may spend as much as C$3 billion ($2.9 billion) buying assets in the next year to boost production.

/MONTSAME/ At the Wednesday's cabinet meeting, some Ministers, Mayor of Ulaanbaatar city and governors of aimags were ordered to take staged measures to develop a university campus and to work out a related plan.

Mongolia joined several l leaders from the Middle East and Asia to condemn Israel"s raid on a Turkish aid ship bound for Gaza at a summit in Istanbul on Tuesday, calling on the Jewish state to end its "inhuman" blockade of the Palestinian territory, according to a report by Reuters. All members of the Conference on Interaction and Confidence Building Measures in Asia (CICA) except Israel itself denounced it for last week"s raid. President Ts. Elbegdorj led the Mongolian delegation to the summit.

DANVILLE, Calif., Jun 8, 2010 (GlobeNewswire via COMTEX) -- S3 Investment Company, Inc. (Pink Sheets:SIVC) and its wholly owned Redwood Capital subsidiary today announced the appointment of Richard Chiang, who has extensive experience in corporate finance, as Managing Director of the Redwood Asia Fund LP. The private equity fund was formed to facilitate faster capital response to the financing needs of Redwood Capital clients and greater participation in clients' future growth.

NewswireToday - /newswire/ - Budapest, Hungary, 06/04/2010 - Move One has been operating in Mongolia for several years and as part of an investment plan in response to recently announced large-scale mining projects, will be expanding current operations in the country.

Mongolian entrepreneurs plan to supply juice and sauce, as well as raw materials for their production from Kyrgyzstan, the Agribusiness Competitiveness Center (ABCC) informs.

Excerpt from report by Uzbek state-owned National News Agency website Mongolian President Tsahiagiyn Elbegdorj arrived in our country [Uzbekistan] on 9 June to take part as an observer in a regular session of the council of presidents of the Shanghai Cooperation Organization's member states, which will be held in Tashkent.

U.S.-based Mongolia Forward has opened talks with MonAtom, Mongolia’s State-owned uranium development company, to form a joint venture to explore, mine, and process uranium in Mongolia. In accordance with the recently enacted Mongolian Nuclear Energy Law, MonAtom will own 51% of the project.

The general reaction of MPs to the government’s performance in regard to the economy last year was one of dissatisfaction as Parliament discussed in Friday a report on execution of the general budget of 2009 and another report by the National Audit Agency on the budget. The reports put the budget income at MNT1 trillion 994 billion, or 32.9 percent of GDP, while expenses stood at MNT 2 trillion 336.6 billion, or 38.6 percent of the GDP.