Mongolian Economy and Finance

Ulaanbaatar, Mongolia, /MONTSAME/ With the aims to contribute to the development of activities and cooperation of member- countries and observer countries of Shanghai Cooperation Organization /SCO/, a Minister of Foreign Affairs of Mongolia G.Zandanshatar has proposed to hold a forum of scientists of SCO countries in Ulaanbaatar in 2012.

This is probably the most difficult question for foreign investors. There are several ways to start to think about investing in Mongolia.

Khan Bank’s latest service to customers is a Diplomatic Office, specially designed to cater to the financial needs of embassies, international organizations, foreign invested companies, and their officials.

The Nature Conservancy has launched a new conservation initiative to protect the globally significant grasslands of the Eastern Steppe of Mongolia. The Conservancy will share its conservation and scientific expertise to help the government of Mongolia balance conservation and economic needs. “This program will help Mongolia to set a new standard for sustainable development,” said Ms. Stephanie Meeks, acting president and CEO of The Nature Conservancy. “This unique effort will encompass policy initiatives with on-the-ground conservation techniques to protect more than 69 million acres of grasslands in Eastern Mongolia.”

B.Khurts, Chief of Administration at the National Security Council, told D.Tsogtbaatar, Secretary of State of the Ministry of Foreign Affairs and Trade, when they met in London at the latest hearing of his trial that he was relying on the working group to secure his quick release.

Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Monday, the Democratic Party faction at parliament debated a draft law on Credit information and related to it laws.

Ulaanbaatar, Mongolia, /MONTSAME/ A head of the President's Office, D.Battulga held talks with his Vietnamese counterpart Nguyen Van Chien. The sides have signed a cooperation agreement between the two offices.

Highlighting concern over melting of Himalayan glaciers, India’s environment minister Jairam Ramesh has suggested expanding sea buckthorn cultivation by tying up with countries like Mongolia, China and Russia as part of mitigating strategies against climate change. He told the National Conference on Sea buckthorn organized by The Indian Defence Institute of Physiology and Allied Sciences, "Over a period of time in other areas also we will discover if sea buckthorn can make a difference."

Ulaanbaatar, Mongolia, /MONTSAME/ Parliament Speaker of Mongolia D.Demberel met the Canadian Ambassador to Mongolia Gregory Goldhawk November 29.

Ulaanbaatar, Mongolia, /MONTSAME/ The President of Mongolia, Ts.Elbegdorj issued a Decree on awarding D.Sosorbaram and B.Tsenddoo with the State prize of the year 2010.

The USA has a number of national holidays, Christmas, New Years, Memorial Day, Independence Day, etc., but I feel there is no better holiday than Thanksgiving. Thanksgiving is all about family, football and feasting. I have countless memories of Thanksgiving days at different homes of my family. Each was a memorable occasion. No other national holiday compares to Thanksgiving.

In October 18, 2010 TDB confirmed the successful issue of its second bond in the international debt capital markets, raising USD 150 million of 3 year Senior nsecured Notes under its Euro Medium Term Note (EMTN) USD 300 million bond programme to increase the bank’s funding base. base. In the very next day, the oldest bank of Mongolia, TDB celebrated its 20th anniversary. A few weeks later, on November 10th 2010, TDB confirmed the issuance of USD 25 million in five year Subordinated Notes under the same EMTN programme to increase the bank’s capital base. On this double occasion, we invited Mr.R.Koppa, President of TDB, to have his views on the bond issues, the current situation of the Mongolian economy and its further trend, and to share his impressions of working in Mongolia, especially at Trade and Development Bank.

This year marks the 20th anniversary of establishing diplomatic relations between Korea and Mongolia, and to celebrate this special year a friendship concert was held on Monday.

D.Zorigt, MP and Deputy Chief of the Budget Expenses Control’s Sub Council discussed about the budget for 2011

MONCTON, NB, Nov. 29 /CNW/ - Landdrill International Inc. (TSX.V:LDI) reports a $6,427,000 or 125% increase to revenues for 2010's third quarter, as compared to the prior year's amount. The Company had revenues of $11,557,000 and net income of $649,000 for the three month period ended September 30, 2010, compared to revenues of $5,130,000 and a net loss of $652,000 for 2009's comparable three month period.

Oyu Tolgoi is off and running. So are many other Mongolian mining projects. So, has the country turned a corner and become an appealing place for miners to invest money?

TOKYO (MarketWatch) — Japan’s efforts to procure rare earths has continued to intensify in the face of reported declines in Chinese exports, with Toshiba Corp. and Sojitz Corp. recently announcing separate actions aimed at ensuring the nation’s supplies.

Ulaanbaatar, Mongolia /MONTSAME/ At its Thursday plenary session, parliament discussed a draft amendment to the law on mineral resources and draft law on the united state budget of Mongolia for 2011. At the beginning of the session, MPs got acquainted with proposals and conclusions, drawn up by parliamentary Standing Committee on economy for the final reading of a draft law on amending the Law on mineral resource. Since there were no questions or clarification, the draft was passed by 79.1 percent of the total number of MPs.

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, 24 November in Geneva, an agreement was signed between the Government of Mongolia and the International Organization for Migration / IOM /. Document with the Mongolian side has signed the Permanent Representative of Mongolia Ambassador L. Orgil, on the other hand - IOM Director General William Swing.

Ulaanbaatar, Mongolia /MONTSAME/ From 24 to 27 November in Istanbul, Turkey has successfully completed the 14th General Assembly of the Organization of News Agencies in Asia and the Pacific. In its Assembly was represented by the Director of "MONTSAME" news agency, T. Baasansuren.

Almost a year and a half after the law banning all mineral prospecting, exploration and mining in water basins and forest areas was passed, implementation began last week. The Government initiated a process of revocation of licenses in stages, beginning with 254 alluvial gold mining licenses. The law covering environmentally vulnerable areas is like those in developed mining countries including Canada and Australia.

Toshiba and Mongolia have inked an agreement to cooperate on developing the latter's mineral resources. The discussion will include developing sources of uranium , rare earth and rare metals products.

TOKYO - Toshiba Corporation (TOKYO: 6502) and Mongolia's MNFCC LLC signed a Memorandum of Understanding (MOU) under which they will initiate discussions on possible cooperation in the development of Mongolia's mineral resources, including uranium, rare earth and rare metals products, and enhancement of the country's social infrastructure.

At the NATO summit in Lisbon , President Elbegdorj of Mongolia renewed his country’s commitment to the ongoing operations in Afghanistan with a pledge to send more army engineers, border patrol experts and rescue specialists.

Grand champion Hakuho of Mongolia defeated Toyonoshima in a playoff to win the Kyushu Grand Sumo Tournament on Sunday.

This is the big one. Deep in the Gobi Desert, in one of the most remote and bleak parts of the world, the most talked-about copper-gold mine in history is going up with remarkable speed.

In 2010 Asian Games held in Guangzhou, China from 14th – 27th November 2010, Mongolia has managed to Win 16 Medal (2 Gold Medals, 5 Silver Medals and 9 Brozne Medals).

Mongolian Ambassador to Vietnam Palam Sundev held a reception in Hanoi on November 26 to mark the 86th anniversary of his country’s national day (November 26).

Germany's defense minister says a lack of natural resources and possible cyber attacks are among future security threats threatening the country.

TOKYO, Nov. 26, 2010 (Kyodo News International) -- Toshiba Corp. (OOTC:TOSYY) said Friday it has inked a memorandum of understanding with a Mongolian consultancy for possible cooperation in developing mineral resources including uranium and rare earths, and enhancing social infrastructure in the resource-rich nation.

Rio Tinto said its total capital expenditure for the 18 months to December 2011 remained as forecast, at about $US13 billion ($A13.25 billion).

BEIJING, Nov 25 (Reuters) - Mongolia's decision to revoke hundreds of gold mining licenses last week has alarmed investors but the government's efforts to clean up its mining sector could have long term benefits, the head of a foreign fund said.

State President Nguyen Minh Triet received the Head of the Office of the President of Mongolia, Dashjamts Battulga, in Hanoi on November 25 at the invitation of Head of the State President's Office Nguyen Van Chien.

BEIJING Nov 25 (Reuters) - Mongolia's decision to revoke hundreds of gold mining licenses last week has alarmed investors but the government's efforts to clean up its mining sector could have long term benefits, the head of a foreign fund said.

Prime Minister S. Batbold told Parliament that USD560 million would be spent on improving services in the provinces while Ulaanbaatar will get USD20 billion to strengthen its infrastructure.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet has decided to issue monetary reward in the amount of 50 thousand MNT per ton of grain that will be delivered to the State reserve and flour mills. The allocations to finance the promotion of food grains stand at 11.7 billion togrog and are fully included and accepted in the state budget in 2010.

Ulaanbaatar, Mongolia /MONTSAME/ At its meeting on Tuesday, the cabinet decided to transfer on contract basis 400 large-size buses. which have been purchased with budget funds, to public and private entities who run transport service.

Ulaanbaatar, Mongolia, /MONTSAME/ A plan was approved Tuesday by the cabinet to implement the national program "Water".

Ulaanbaatar, Mongolia, /MONTSAME/ A national security policy advisor to the President M.Batchimeg has given a lecture named "Mongolia:Yesterday, Today, Tomorrow" at the center of Mongol studies in Indiana University, USA, for teachers and students.

V.I.Yakunin, President of Russian Railway, which is the Mongolian Government’s partner in Ulaanbaatar Railway, recently met with First Deputy Premier N. Altankhuyag and expressed satisfaction that Mongolia was to build a Russian-specification wide-gauge railway to help export its coal.

Nicknamed as “long named law” – Law on Prohibition of exploration and mining operations in the areas of water and forest reserve has adopted quite long ago and it is waiting its law enforcement, urged by civil movements and reactions.

More than $1 billion is likely to be spent on the massive Mongolian Oyu Tolgoi copper and gold project in 2011, a senior executive on the project said Wednesday.

VANCOUVER, BRITISH COLUMBIA, Nov 24, 2010 (MARKETWIRE via COMTEX) -- Long Harbour Capital Corp. /quotes/comstock/11v!e:lhc ( CA:LHC 0.13, +0.02, +19.05%) reports that, as part of its ongoing evaluation of business opportunities in the natural resource sector, the Company is currently reviewing various precious metals, rare earth mineral and uranium properties in Mongolia.

Former sumo grand champion Asashoryu says an Asian Games wrestling final has split him between his homeland, Mongolia, and Japan, which forced him to retire after he committed a series of faux pas.

* Seeks to head off possible creeping takeover by Rio Tinto * Sovereign wealth funds keen on firm's key focus Mongolia

* Debut bond of $500 mln to $600 mln seen in early 2011 * C.bank favours bond half the size govt had first proposed * Togrog up 15 pct this year as China demand fuels growth

LONDON, Nov 24 (Reuters) - Mongolia's gross domestic product (GDP) should grow by 7.5 percent in 2010, a senior government official said on Wednesday.

  The MPP group in Parliament favors a 15% royalty on copper, both ore and enriched, to make up for the revenue loss following repeal of the windfall profit tax on January 1, 2011. It expects the measure to yield MNT207 billion to the budget. The group yesterday discussed amendments to the law on mineral resources and hoped the Government would accept its suggestions and submit to Parliament for discussion a revised policy on mineral resources within two weeks, the head of the group, D.Lundeejantsan, told media after the meeting. The Government has proposed to introduce sliding royalty rates on gold, copper and coal.

The revised 2011 budget proposal envisages a steep increase in government spending, together with a sharp rise in the fiscal deficit to 8.6 percent of GDP. This budget, if approved, will compound already existing inflationary pressures caused by the sharp economic rebound and the lack of spare capacity in the economy, says the World Bank.

Ulaanbaatar, Mongolia /MONTSAME/ The Mongolian delegation headed by Vice-Speaker of the Great State Hural, chairman of the Mongolian-Australian parliamentary group N. Enkhbold paid an official visit to Australia on 15-9 November at the invitation of the Parliament of this country.

Ulaanbaatar, Mongolia /MONTSAME/ The head of the Anti- Corruption Agency (ACA) Ch.Sangaragchaa met on Monday experts from UN Convention against Corruption who arrived in Ulaanbaatar.

As reported earlier on www.business-mongolia.com site ( http://www.business-mongolia.com/mongolia/2010/11/08/northbound-railway-transportation-test-has-made/ ), the very first 2000 tons of coal in 30 wagon carriages departed Ulaanbaatar Station heading to Naushki – Vostochny port. This action urged wide gauge railway policy adoption by the policymakers.

According to the Economy, Statistics Information Committee of Inner Mongolian Autonomy Region North China, Mongolian coal export reached 10,95 million tons in between January – September 2010.

Sh. Saikhanbileg, Leader of DP fraction, informed media that upon consideration of the revised state budget, the fraction concluded that the budget deficit for 2011 shall not exceed 9.8 percent of GDP.

Mongolian People’s Party (MPP), the former Mongolian People’s Revolutionary Party (MPRP) finished their Congress and it seems that everybody was happy there. Therefore, there are no reasons for them to kill the coalition Government. But it is a completely different story when it comes to the Democratic Party. There are so many forces there who want to stop the coalition Government.

Nov. 24 (Bloomberg) -- Mongolia’s long-term debt ratings were raised by Fitch Ratings after the nation’s economy returned to growth and its foreign-exchange reserves climbed to a record.

In an announcement referring to news reports that the Mongolian government would revoke at least 254 mining licences for gold across the country on environmental grounds, Mongolia Investment ( HKG:0402 ) says that it holds, through subsidiaries in Mongolia, 4 gold and copper exploration licenses.

Ulaanbaatar, Mongolia /MONTSAME/ The leaders of major states who participated in NATO Summit on Afghanistan issue talked to Mongolia's President Tsakhia Elbegdorj during the Summit's second day in Lisbon, Portugal, on Nov. 20 and praised Mongolia's contributing to stabilizing the situation in Afghanistan and implementing an active work of the foreign policy.

Ulaanbaatar, Mongolia, /MONTSAME/ A regular meeting of the Council of the state heads of Shanghai Cooperation Organization /SCO/ will take place in Dushanbe, Tajikistan on November 25. In this meeting will participate from Mongolia the delegates led by a Minister of Foreign Affairs G.Zandanshatar.

The National Committee of the Civil Will Party ratified by majority suport on November 20 last month’s decision of the party’s Political Council to form an alliance with the Green Party.

Heated exchanges among leaders and allegations and counter allegations over issues related to Oyutolgoi marked the DP National Consultative Committee meeting last week. N.Batbayar claimed that Finance Minister S.Bayartsogt had misled the country by saying Mongolia had 34% share in Oyutolgoi LLC, when the actual figure was 6.8%. Bayartsogt denied this and said he had learnt from Minister Kh.Battulga and former PM S.Bayar that Batbayar had also alleged “that I would entirely give Oyutolgoi to China”. He added that when he had asked Batbayar for an explanation, “he said he wanted to make me famous. Thank you, I do not need such popularity.”

The Communications Department of Oyutolgoi LLC released an open letter last week, setting the record straight on the percentage of shares held by the Mongolian government in the company. The letter reads:

The State Clinical Central Hospital has inaugurated its own oxygen plant, the first ever in Mongolia.

Nov 22, 2010 (CIDRAP News) – Satellite tracking of wild birds in Asia suggests they may be spreading H5N1 avian influenza from India or Tibet to Mongolia when they fly north in the spring, according to a recent report from the United Nations Food and Agriculture Organization (FAO).

Vancouver, B.C.: Meritus Minerals Ltd. (MML) (TSX-V - MER) is pleased to advise that the two exploration licenses held by its subsidiary company Gutain Davaa LLC (The Gutain Davaaa Project) are not affected by changes to the Mongolian Mining Legislation announced on 17th November 2010.

Towards strategic partnership.

A Workshop on the topic ‘Traffic Management in European cities’ was co-organized by Integrated Urban Development Program which is financed by the Government of Germany and implemented by the Ministry of Roads, Transport, Construction and Urban Development, Ulaanbaatar City Government and GTZ. In this particular case, the UB Traffic Control Center was the organizing body. All organizations in relevance to Ulaanbaatar City’s road and transportation sector participated in the event.

Many people were surprised that the Government could revise the budget draft within 24 hours, but time was of the essence as the budget approval deadline is drawing near. Our journalist asks the Chief of the Budget Policy Board of the Ministry of Finance, B.Batjargal, some questions.

The debate on aspects of national security, organized by the President’s Office, the Civil Hall and the Standing Committee on Security and Foreign Policy, ended yesterday after four sessions.

The Government does not favor a proposal from a group of MPs led by S. Byambatsogt and J. Sukhbaatar to adjust the outstanding amounts owed by herders to banks against the MNT1.5 million it is committed to distributing to citizens. Byambatsogt has told media that herders’ debts now stand at MNT64 billion and they are suggesting that the Government sells bonds to the creditor banks to clear the dues, redeeming the bonds when it is ready to distribute MNT1.5 million to every citizen, who will include the indebted herders. He is surprised at the government’s lack of support this as the debts keep increasing with every passing day.

President Ts.Elbegdorj yesterday told a joint session of the two chambers of the Japanese Parliament that the relationship between the two countries has reached a new stage, opening up possibilities of further collaboration. Both countrues stand to benefit if Mongolian mineral resources are exploited with the use of Japanese technology.

Many members of the National Consultative Committee of the DP, meeting in the Great Hall of the Government House, have expressed concern that several goals set out in the agreement that led to the formation of the coalition government have not been implemented.

On November 12, Parliament discussed a Bill on Centralized State Budget for 2011 that was redrafted by the government after being returned for essential amendment. In the redrafted Bill, total revenues of the centralized budget was estimated to be Tgs 3,284,300,000,000, expenditures to be Tgs3,955,000,000,000 and the total budget loss to be Tgs670.7 billion or equating to GDP’s 8.6 percent. In other words, the total revenue estimated in the amended Bill increased by Tgs227.3 billion and expenditures by Tgs705 billion from the previous Bill, causing the total loss standing at 2.5 percent to reach 8.6 percent. To a question by a MP who was interested in how the budget revenue increased, Finance Minister S. Bayartsogt answered, “When we first submitted the budget bill, the report of third quarter had not yet been released. A recently issued report showed positive indications.

A delegation of senior officials of the Mongolian Government and Judiciary will be in Wellington the week 22-26 November to find out about New Zealand's family law, youth justice and child protection systems

Japan is making a concerted effort to strengthen its relationship with Mongolia, one of the world's richest stores of minerals.

From November 15 to 19, President Ts. Elbegdorj is paying a State visit to Japan. His visit in Tokyo City began when he met with Mongolians staying in Japan. Approximately 2,000 Mongolians study or work in Japan. In past years, the number of Mongolians who conduct research at institutions and universities has increased.

TOKYO — Japan on Friday agreed with Mongolia to push for joint exploitation of rare earth minerals in the central Asian country amid concerns about a Chinese export freeze of the key minerals, officials said.

(Reuters) - The big skies and wide open spaces of the Mongolian grasslands seem an odd place for a Harlem Globetrotter to spring from, but 2.15m tall Sharavjamts Tserenjankhar has become used to standing out in the crowd.

Within the framework of 5-day visit to Japan by the President of Mongolia, Ts.Edegdorj, an official from the Mongolian Finance Ministrer Dorjhand stated that Mongolia’s partner in TT project shall be announced by the end of the month according to Bloomberg.

The UK has slower wireless broadband networks than Uzbekistan and Mongolia, according to Wireless Intelligence, an analytical arm of the GSM Association.

Japan and Mongolia have agreed to step up economic cooperation, including the development of natural resources such as rare earth metals, as the two Asian countries prepare for possible free trade talks next year.

TOKYO (Kyodo)--Japan and Mongolia agreed Friday to accelerate their preliminary studies so they can start negotiations on a bilateral free trade agreement at an early stage in fiscal 2011 and cooperate in the development of natural resources such as rare earths.

TOKYO (AP) - Japan and Mongolia have agreed to step up economic cooperation, including the development of natural resources such as rare earth metals, as the two Asian countries prepare for possible free trade talks next year.

On October 22, United Movement of Mongolian Rivers and Lakes sued Government of Mongolia in the court of Sukhbaatar district of Ulaanbaatar city in order to get compensation of environmental damages in basins of Onggi, Zavkhan, Tuul, Khangiltsag, Khuder, Ulz, Yeroo and Gachuurt rivers in compliance with article 19.1 of the Mongolian Constitution, and Article 7.7.2, 11.1.6 of the Mongolian law on Government.

HONG KONG—Mongolia's government is reviewing a list of more than 1,700 mining licenses to be terminated under regulations aimed at protecting the environment, a senior official said Friday.

TOKYO --President of Mongolia Tsakhia Elbegdorj, currently visiting Japan, made a speech in Tokyo on November 16 and expressed his hope for the participation of Japanese companies in the exploration, processing and shipping of rich deposits of uranium and rare earth elements in Mongolia.

Centerra Gold Inc. , a Canadian producer of the metal, may lose four gold mining licenses in Mongolia as the nation’s government plans to revoke permits on environmental concerns.

The Standing Committee on the Economy yesterday discussed the law drafts on the Treasury and Banking, with Minister of Finance S.Bayartsogt and Mongol Bank President L.Purevdorj answering members’ questions. The two, however, frequently disagreed with each other.

The Ministry of Education, Culture and Science has revealed that Mongolia received USD29 million as a non-repayable grant from the World Bank for its project on public education. The money has been used to repair 60 secondary schools, 25 hostels and some kindergartens. Some primary education expenses were also met with the grant money. Mongolia was excluded from the project a year ago when its per capita GDP exceeded USD1,000.

Mongol Bank officials have said that a part of its foreign currency reserve is always in the form of gold.

With nations scouring the globe in pursuit of dwindling mineral supplies, the world"s attention has shifted to Mongolia, a country some are heralding as the next resource success story. Among the last places on earth with rich, untapped mineral deposits, this landlocked, underdeveloped country is expected to become one of the world"s fastest-growing economies over the next decade -- if, that is, it can address a set of daunting challenges and bring these resources to the market, says an article in Summit Business Media.

According to figures released by the Mongol Bank, 130 companies and 800 indiovidual gold miners sold 9803.3 kg of gold to it in 2009, 5,380.5 kg less than in 2008. It is widely believed that mined gold was regularly smuggled out of the country to avoid paying taxes, particularly the windfall profits tax.

Ulaanbaatar, Mongolia, /MONTSAME/ A new complex of sport will open November 25. It has been erected at a grant from the Government of China.

Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Wednesday, the cabinet supported the document pre-selection of companies /consortiums/ who, having mae the investments, will cooperate in the development of coal deposit Tavan tolgoi.

Ulaanbaatar, Mongolia, /MONTSAME/ An opening of a Mongolia's Honorary Consulate took place in Milan city, Italy, on November 17. Present were Milan city leaderships, business delegation, honorary consuls in Milan, Mongolians who live there, the Ambassador to Italy J.Enkhsaikhan, and visiting this country Governor of UB city and Mayor of Ulaanbaatar G.Munkhbayar.

Gold mining licenses in the territory of water and forest reservoir will be canceled.

TORONTO, ONTARIO, Nov 18, 2010 (MARKETWIRE via COMTEX) -- Garrison International Ltd. /quotes/comstock/11v!e:gau ( CA:GAU 0.06, +0.01, +22.22%) ("Garrison") is pleased to announce that the initial Induced Polarization Gradient Array (IPGA) geophysics survey has been completed over the major areas of interest within Garrison's Tuvshir Project's northern exploration and mining licenses. A Mongolian geophysics company, GPGD LLC, which specialises in Induced Polarization surveys was contracted to conduct the IPGA program. Approximately 90 line kilometres have been surveyed at average 100 metre line spacing. On site monitoring was done on each survey line using calibrated equipment with the company's Project Geologist overseeing the survey. The results can be seen below in figure 1 with Resistivity and Chargeability maps side-by-side for comparison.

StockMarketWire.com - Lotus Resources has completed the sale of its Mongolian mining subsidiary, Lotus Minerals Mongolia, to Mongolian Minerals.

Mongolia will be the next powerhouse in the global copper mining industry, surpassing even Chile in the scale and efficiencies of projects, according to Robert M. Friedland, founder and executive chairman of Ivanhoe Mines Ltd.

* Says Gatsuurt license not on list to be revoked * Says Boroo licenses are not subject to the law * Shares fall almost 7 percent, settle at C$16.48

Ulan-Bator, November 18, Interfax - The Orthodox Week was held by the Ah Oron (Motherland) Mongolian TV channel from November 8 to 14.

Some people have been talking up the imminent arrival of Mongolia as a hot new investing destination for years now, usually to hoots of derision. Recently, though, they had not one but three separate confirmations that Mongolia has finally become the newest “in thing” in the fickle world of investing, reports The Financial Times. The first indicator was at an event for a London think-tank called the CSFI. This august institution usually doesn’t talk much about adventurous investing and certainly not about Mongolia but at a gathering of Big Bears – pessimistic types predicting a coming financial storm – the subject of Mongolia came up.

The draft budget for 2011 includes plans to build several paved roads under the Millennium Road project and other programs, with money from the Asian Development Bank and Kuwait Fund.

Ulaanbaatar, Mongolia, /MONTSAME/ At the initiative of the Presidential Office of Mongolia and in co-operation with Mongolia's National Mining Association /MonNMA/ and Mining legal research fund and assisted by the World Bank, a debate was organized Tuesday themed "Law on Mineral resources of Mongolia:Development and Tendency".

Ulaanbaatar, Mongolia /MONTSAME/ Currently in Japan with the state visit, the President of Mongolia Ts.Elbegdorj has received a Minister of Economy, Trade and Industry of Japan Akihito Ohata. The latter has informed that Japanese Government will officially begin negotiations with Mongolia's Government on conclusion of the Intergovernmental Agreement on Economic Partnership. "This is our Government's gift for Your visit, Mister President," said Ohata.

Ulaanbaatar, Mongolia /MONTSAME/ At its regular meeting on Wednesday, the cabinet considered a new wording of laws related to land relations, Geodesy and Cartography and agreed to reflect in it own suggestions and to submit to parliament.

Ulaanbaatar, Mongolia, /MONTSAME/ At regular meeting of cabinet on Wednesday, a procedure was approved for issuing compensation to people who hold special license to conduct search and exploitation of mineral resources.

International Mining’s John Chadwick is flying to Mongolia to visit the Oyu Tolgoi project next week in preparation for an Operation Focus article on the mine in early 2011. It is the world’s largest known undeveloped copper-gold project and is located in the South Gobi region of Mongolia, approximately 80 km north of the Mongolia-China border. When Oyu Tolgoi moves into full production, it will be one of the world’s top three copper-gold mines. International engineering and project management company AMEC has been commissioned by Oyu Tolgoi LLC to undertake the feasibility study for Lift 1 of the underground Hugo North block cave operation of its copper and gold mining project in Mongolia. Over the next 25 months, AMEC will work with Oyu Tolgoi’s engineering team to develop designs, specifications, cost estimates and a construction schedule for an 85,000 t/d block cave operation.

Mongolia 999 National Consortium is determined to participate in the construction of the Government’s programme to build industrial facility in Sainshand.

PRIVATE health-care providers in Singapore are stretching their wings to capitalise on the strength of markets such as China, Mongolia and Abu Dhabi.