Mongolian Economy and Finance

Global gold production is expected to increase in the short-term, but it would then decline as fewer and fewer large discoveries were being made, precious metals consultancy firm GFMS World Gold MD Paul Burton said on Wednesday.

Business Monitor Online recently published a report on Frontier Markets, which is also appearing in this week’s Emerging Markets Monitor magazine.

Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. (TSX:SGQ)(SEHK:1878) is pleased to announce Curt Church, previously Vice President, Mining Operations has been appointed the company's new Chief Operating Officer, effective immediately.

Mongolia has narrowed the short- list of bidders for the Tavan Tolgoi coking coal deposit to three, including Peabody Energy Corp. (BTU) , a China Shenhua Energy Co Ltd (1088) .- Mitsui & Co Ltd. (8031) joint venture and a Russia-South Korea group, the Australian Financial Review reported in its Street Talk column, without saying where it got the information.

Mongolia hasn’t yet decided which of six foreign groups should develop Tavan Tolgoi, one of the world’s largest untapped coal deposits, an official said, refuting a report which said the shortlist was cut to three.

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A regular consultative meeting between the Ministries of Foreign Affairs of Mongolia and Poland ran Tuesday in Warsaw, Poland.

Chairman of Board of Directors of Erdenes TT, Chairman of State Property Committee of Mongolia D.Sugar briefed major Mongolian daily “Unen” today.

The Obama administration has held informal talks with Mongolia about the possibility that the Central Asian nation might host an international repository for its region's spent nuclear fuel, a senior U.S. diplomat said yesterday.

Measured Plus Indicated Increase by 7% to 266.2 Million Tonnes and Inferred Increase by 190% to 97.1 Million Tonnes.

Rebel Rauterkus of Star Valley will be among 30 youth to visit Mongolia through Wyoming 4-H leadership program this summer.

Ivanhoe Mines Ltd The massive project, which Ivanhoe is being developing in partnership with Anglo-Australian miner Rio Tinto (RIO.AX) (RIO.L), is expected to begin commercial production in the first half of 2013.

China, the world’s biggest user and producer of coal, may face a shortfall of 56 million tonnes of coking coal this year, the China Securities Journal reported on Tuesday, pushing Chinese steel mills to look further afield to make up the supply gap.

Mongolia Growth Group Ltd., is pleased to announce the release of its March 2011 letter to shareholders.March 2011 Shareholder Letter

Mongolia’s external trade deficit rang in at US$139.6mn as imports surged 163.8% year-on-year (y-o-y) in January.

Ivanhoe Mines Ltd. today announced its financial results for the year ended December 31, 2010. All figures are in US dollars unless otherwise stated.Highlights:

Oyutolgoi LLC will grant an amount equivalent to USD1 million as loan to small and medium enterprises of Umnugobi aimag through XacBank.

An NGO, Human Resource Development in Mining, and the Union of Professional Human Resource Managers will jointly hold a meeting on how to utilize human qualities to their maximum at the State Academic Theater of Drama at 9.30 am on April 7.

Green Technology Solutions Inc. ( OTCQB:GTSO ) announced today that its rare earth mining joint venture in Mongolia plans to commit a sizeable portion of new product mined from its properties for export to Japan to assist in the country’s earthquake and tsunami recovery efforts.

Mongolian Mining Corporation, Mongolia's largest producer and exporter of high-quality coking coal, has announced that in 2010 it increased its coal production volume by 114 percent year on year to approximately 3.9 million mt.

Some 500 herders from six Central aimags, agriculture specialists and officials of the Office of the President, Parliament, the Standing Committees, the Government and the local administrations are attending a state conference on the progress of the Mongol Livestock program and development of the countryside at Government House today.

As the mortgage rates drop in Mongolia, will the increased demand and limited supply simply lead to a bubble in real estate prices?

Latvian chocolate and sweets producer Laima has begun to export its products to Mongolia. The company has already signed the agreement and sent the first 15 tons of its products, as the company informed the business information portal Nozare.lv.

TORONTO, ONTARIO--(Marketwire - March 29, 2011) - Denison Mines Corp. (TSX:DML)(NYSE Amex:DNN) ("Denison" or the "Company") today announced that it has filed its 2010 annual report on Form 40-F with the U.S. Securities and Exchange Commission (SEC).

ENK, the first coking chemical complex of Mongolia, has so far produced 100,000 tons of coking coal at its plant in Bayan-Ovoo soum of Umnugobi aimag.

Exploration minnow Xanadu Mines Ltd says it has acquired the Mogoin Gol copper prospect, covering 488 square kilometres, in northern Mongolia.

According to the region coal industry bureau China top coal production base of Inner Mongolia imported 1.26 million tonnes coal from Mongolia in the first two months of 2011 surging 22.4%YoY.

NEW YORK (AP) - Ivanhoe Mines Ltd. said Monday that it narrowed its net loss last year as revenue doubled from 2009.

The Government head also visited Celltrion, a leading biopharmaceutical company in Korea.

Tuvan Singer Kongar Ondor said Mongolia is not original place of throat singing and milk vodka. Well, I don't know about Tuva.

Nigel Richardson goes off the map to the geological freak shows and dinosaur boneyards of the southern Gobi Desert.

Ulaanbaatar, Mongolia, /MONTSAME/ The project of “Improving water supply facility of Darkhan-Uul aimag” has been implemented successfully at Japanese governmental non-refundable aid.

At present estimates, the mines of Erdenet Mining Corporation have deposits for 40 years, if the current rate of lifting 25.5 million tons of ore annually remains constant. Erdenet exports copper and molybdenum concentrate.

Prime Ministers S.Batbold and Kim Hwang-sik followed up their conversation without aides with official talks where the Mongolian side included Minister for Foreign Affairs and Trade G.Zandanshatar, for Road, Transportation and Urban Development Kh.Battulga, for Health S.Lambaa, and for Education, Culture and Science Yo.Otgonbayar, as well as Deputy Speaker G.Batkhuu and the Ambassador to South Korea, D.Gerel.

The Civil Will Party and the Green Party have decided to form an alliance. The two parties held their separate assemblies on March 26 to discuss the issue, and members at both ratified the decision.

Prime Minister S.Batbold’s concluding engagement in South Korea was joining his counterpart Kim Hwang-sik and other leaders to attend a Mongolian cultural performance named Country of Blue Sky at the National Theater in Seoul on March 25.

G.Oyuntsetseg and B.Khishigbaatar, advocates for the Chief of the Anti Corruption Authority, Ch.Sangaragchaa, who has been detained in Gantskhudag for six days, will appeal against the judgment.

A Mongolian team headed by Minister for Mineral Resources and Energy D.Zorigt paid an official visit to Germany between March 23 and 27 on an invitation by the German Minister for Economic Cooperation and Development, Dirk Niebel. Minister for Defense L.Bold and MP and Chief of the Mongolian-German Parliamentary group, D.Terbishdagva, accompanied Minister Zorigt.

Global No. 1 copper producer Chile’s Codelco said Friday its 2010 output dipped but should be steady this year, and expects strong Chinese demand, Japan’s recovery after a natural disaster, as well as new uses to stoke demand.

A South Korean consortium has signed a $3 billion preliminary deal to build a railway serving the world’s largest untapped coal mine in Mongolia.

Preaparing the road to a Tavan Tolgoi IPO.Mongolia counts its economic entities every 5 years and the census will take place on April 15- May 15 reports the National Statistics Committee (NSC).

President Lee Myung-bak says that Mongolia could serve as a good model for North Korea in terms of economic reform.

Many established brand names from Asean can be introduced to Mongolia, and Malaysia hopes to be in the forefront with property and infrastructure development, IT products and services and education.

Even the least educated in Asian affairs know Mongolia is full of exotic wild animals and was once home to Xanadu, the archetype for opulence.

Today (Thursday, March 24), in response to the Tohoku-Pacific Ocean Earthquake, the Government of Mongolia announced that it had made a donation of relief money (one million US dollars).

Mongolia and South Korea will engage in a “clean coal” development project that can improve energy efficiency of the fossil fuel resource.

The inaugural McCloskey Mongolian Coal and Infrastructure Conference will take place in Ulaanbaatar in April 2011.

* IPO for Tavan Tolgoi expected by end 2011, early 2012 * Mongolia to decide on listing venue as early as June * South Korea's Lotte signs deal for connecting railway (Adds details on rail link)

SEOUL, March 25 (Yonhap) -- Mongolian prime minister on Friday condemned North Korea for its deadly attack on a South Korean warship and vowed to make efforts to enhance peace on the divided Korean Peninsula.

You, I, state high officials and everyone have same rights. Everyone believes that court obeys these rules but lately court’s sensational decisions on high officials’ cases are looking more like political revenge.

Ulaanbaatar, Mongolia, /MONTSAME/ The Prime Minister S.Batbold arrived Wednesday in Seoul to pay an official visit to the Republic of Korea at invitation of his counterpart Kim Hwang-sik.

Ulaanbaatar, Mongolia, /MONTSAME/ A “Tourism and competitiveness-2011” national consultative meeting will run March 28 at Mongolia's Chamber of commerce and industry under the auspices of Mongolia's Prime Minister.

Ulaanbaatar, Mongolia, /MONTSAME/ A council at the Parliament Speaker discussed Thursday issues of setting an order of agendas to be considered at the regular parliamentary session of 2011, and of intensifying the preparation for the session.

A delegation of Bulgarian Knights Templars is leaving today for the Russian Autonomous Republic of Buryatia and then set to Mongolia – the motherland of Genghis Khan.

DLA Piper is set to enter the Mongolian legal market after securing an alliance with local firm C&G Partners.

Less than a week after announcing a letter of intent to help develop a third new rare earth mining property in Mongolia, the joint venture formed by Green Technology Solutions Inc. (OTCQB:GTSO) and Rare Earth Exporters of Mongolia (REE) today disclosed a fourth site.

Prime ministers and foreign ministers of South Korea and Mongolia held talks here Thursday, discussing how to improve their economic ties and better cooperate in easing tensions on the peninsula, the Seoul government said.

A meeting at the Ministry of Health on Tuesday adopted the activity plan for a year-long project against spread of contagious diseases as a result of climate change, to be jointly financed by The World Health Organization and KOIKA of South Korea.

Our journalist talks to the Chief of the Standing Committee on Justice, D.Odbayar.

Some 200 of the 30,000 Mongolians in South Korea met with Prime Minister S.Batbold in what was the first event of his official visit to South Korea.

Mongol Bank Vice President N.Zoljargal and Director of Foreign Currency R.Delgermaa told a press conference today that inflation has been falling a little and stood at 11% at the end of February in Ulaanbaatar.

Participants in an open discussion on “National security and media” today regretted that the National Security Policy was not being implemented even though it was passed seven months ago.

Copper and iron ore prices should remain high in the near future because of additional demand for reconstruction in Japan after a devastating earthquake and tsunami, Ivanhoe Mines Ltd Chief Executive Robert Friedland said.

March 24 - Fitch Ratings has today assigned Winsway Coking Coal Holdings Limited (Winsway) a Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'BB' with a Stable Outlook and a foreign-currency senior unsecured rating of 'BB'.

SEOUL, March 24 (Yonhap) -- Foreign Minister Kim Sung-hwan met with Mongolian Foreign Minister Gombojav Zandanshatar on Thursday and agreed to deepen relations and cooperation between the two countries, the ministry said.

Ulaanbaatar, Mongolia, /MONTSAME/ A head of the Cabinet Secretariat of Government Ch.Khurelbaatar gave Tuesday a report to the cabinet on implementation of the governmental works done in 2010.

Ulaanbaatar, Mongolia, /MONTSAME/ A Minister of social welfare and labour, T.Gandi is working in Republic of Korea to re-establish the mutual understanding memorandum on "Sending the labour force to S.Korea according to consent to work".

Ulaanbaatar, Mongolia, /MONTSAME/ On Tuesday, the cabinet at its meeting approved size and percentage of payments for poisonous substances emitting from pollution.

Ulaanbaatar, Mongolia, /MONTSAME/ A council of the Minister of Finance has held a meeting with a participation of the Vice Minister of Finance, State Secretary of Finance Ministry, heads of the Bank of Mongolia, National Development and Innovation Committee, General Customs Authority, Tax Administration, Financial Regulatory Committee, National Chamber of Commerce and Industry.

TORONTO, Mar 7, 2011 (Canada NewsWire via COMTEX) -- The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):

March 23 -- China Shenhua Energy ( 601088 ) will cooperate with Japan's Mitsui, to enter the bidding for the west section of the Tavan Tolgoi Tsankhi coal mine in Mongolia, reports 21CBH, citing a company filing.

KABUL, Afghanistan -- United States Ambassador to Mongolia Jonathan Addleton visited a small contingent of Mongolian counterinsurgency trainers deployed to Camp Julien, here March 22.

Every winter for the past 15 years, adventurous Mongolians and foreign visitors have braved sub-zero temperatures to enjoy an ice festival.

Prophecy Resource Corp ( CVE:PCY )(OTCQX:PRPCF) said Wednesday that it anticipates exporting approximately 520,000 tons of coal in 2011 from its Ulaan Ovoo mine in Mongolia, which was fully commissioned last November.

ULAN BATOR, March 23 (Xinhua) -- The Mongolian government had revoked a decision it made earlier this month to allow foreigners to hunt leopards for scientific purpose, local media reported Wednesday.

Copper fell more than one-percent on Monday, failing to join in a broad-based equities rally as concerns about the sustainability of the global economic recovery began to bite.

A team of 12 Mongolian rescue workers returned home on Monday after 5 days in areas hit by tsunami and earthquake in Japan.

The April and May issues of International Mining include articles on the great Oyu Tolgoi development in the Gobi Desert of southern Mongolia.

At the cabinet meeting held on March 16, government members got au fait with the process of amending the Investment Agreement signed by Government of Mongolia and Ivanhoe Mines Mongolia, Inc, Ivanhoe Mines Limited, and Rio Tinto International Holdings Limited.

JAPAN’S nuclear crisis has prompted Russia’s state-owned Rosatom Corporation to slash its planned takeover of uranium miner Mantra Resources by more than 12 per cent, casting doubt on how other uranium takeovers will be valued. Rosatom’s ARMZ Uranium Holding Company last week withdrew its $8-a-share offer, following a cooling in investor appetite for uranium stocks as a result of the Fukushima crisis.

A Mongolian man was launched into space for the first time on March 22, 1981. Citizen of Mongolia Gurragchaa Jugderdemid and Vladimir Janibekov of the USSR were launched to space from Baikonur space site in a Soyuz-39 spaceship.

RIO Tinto chief executive Tom Albanese has warned the development of new global resource projects is slowing because of increased government intervention and greater “stakeholder activism” that is halting supply to world markets.

London, Mar 23 : Palaeontologists have discovered the first complete sauropod embryo, still sheltered inside its egg some 110 million years after it was laid.

“Face of Mongolia-2011” contest will take place by the Mongol Model Agency. Aim of the contest is to select new young models, who can participate in the Asian Super Model beauty competition.

“The Secret History of Mongolia” Comic Book Published in German by famous Mongolian artist E.Otgonbayar.

American conductor and musicologist Jindong Cai is now in Mongolia at the invitation of the Director of the State Opera and Ballet Theater to conduct Bizet’s Carmen on March 26 and Tchaikovski’s Swan Lake on March 27.

* Says in talks with 5-6 targets to acquire gold, copper mines * To maintain steady gold output in China, expand copper output

Bangkok - Mongolia needs to invest about 1 billion dollars in the Tuul River ecosystem and improve its national water management if its population is to have access to clean water, a United Nations report warned Tuesday.

Calgary, Alberta CANADA, March 21, 2011 /FSC/ - Mongolia Growth Group Ltd. (YAK - CNSX), ("MGG" or "The Company") is pleased to announce a non-brokered "commercially reasonable efforts" private placement offering ("Offering") of common shares ("Common Shares") to raise gross proceeds of up to CDN$ 10 million with a CDN$ 5 million overallotment for aggregate proceeds of up to CDN$ 15 million.

Mongolia is proposing to send 1,500 peacekeepers to Cote d'Ivoire, in what would be by far its largest troop contribution to an international mission (and, if we want to be cute about it, the largest troop deployment abroad since the days of the Mongol Empire).

Denison Mines ( TSE:DML )( AMEX:DNN ) announced Monday that it has signficantly increased uranium resources at its Hairhan deposit in Mongolia, part of the Gurvan Saihan joint venture.

EVERY one seems to want a piece of the Mongolian coal action these days. And it is not just the Chinese market – big as it is – that beckons.

Green Technology Solutions, Inc., (GTSO) has hired SGS Mongolia Minerals to analyze the mineral content of a new mining property it wants to explore in Mongolia.

SEOUL—South Korea announced a series of agreements and investments in Mongolian and Indonesian coal projects, following the Korean national oil company's $2 billion spending spree Monday on oil reserves in the U.S. and Kazakhstan.

A company based in San Jose is working to develop new sources of rare earth elements (REEs) outside of China.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - Prophecy Resource Corp. ("Prophecy" or the "Company") (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) is pleased to announce that Mr. Chuluunbaatar, President and Chairman of the Monnis Group of Companies, Mongolia ("Monnis") has been appointed to Prophecy's Board of Directors.

A new joint project between Western Australia and Mongolia aims to strengthen ties between the two countries through collaborative genetic research.

Chiang Mai (Mizzima) - The president of Mongolia, the first democratic state in Central Asia, has extended his support to Burma’s pro-democracy leader Aung San Suu Kyi in a telephone call, according to the US Campaign for Burma.

A Chinese military delegation led by Huang Hanbiao, vice commander of the Beijing Millitary Command of the Chinese People's Liberation Army, on Thursday attended celebrations for the 90th anniversary of the Mongolian Armed Forces.

VANCOUVER, March 17 /PRNewswire-FirstCall/ - Entrée Gold Inc. (TSX: ETG) (NYSE AMEX: EGI) (Frankfurt: EKA) ("Entrée" or the "Company") announces that the Entree and Oyu Tolgoi LLC joint venture ("Entree-OTLLC Joint Venture") has budgeted US$7 million for exploration and development work on the joint venture ground ("Entree-OTLLC JV Ground") within the Lookout Hill Property, Mongolia.

(Source: Business Wire) Only a day after the addition of a new mining and exploration consultant to its rare earth mining team, Green Technology Solutions, Inc. (OTCQB: GTSO) revealed today that its Mongolian operation has grown by one more.

Mongol Bank President L.Purevdorj answers our reporter’s questions on the Government decision to sell bonds to finance large programs and projects through the Development Bank.

The first forum of Mongolian engineers is being held today at Government House. It has been organized jointly by the University of Agriculture, the National University of Mongolia, and the University of Science and Technology, with support from the Ministries of Food, Agriculture and Light Industry, and of Education, Culture and Science.

Ulaanbaatar, Mongolia, /MONTSAME/ A composition of the Naadam preparation national committee will be refreshed.

Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the cabinet meeting was introduced to a process of amending the investment agreement established between the government of Mongolia and the investors as “Ivanhoe Mines Mongolia Inc” LLC, the “Ivanhoe Mines Ltd” and “Rio Tinto International Holdings Ltd”.

Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet on Wednesday discussed a matter on issuing bonds and governmental guarantee, and decided to issue bonds of MNT 800 billion.

Copper prices are rising on expectations that Japan will need more of the metal as it rebuilds after the devastating earthquake and tsunami.

As the threat of meltdown continues to escalate at several nuclear power plants in earthquake-ravaged Japan sending uranium stocks and spot prices lower on renewed concerns about nuclear energy, investors may be turning their interests toward more traditional forms of energy production, such as coal.

Accelerating to 60 kilometers per hour on a frozen lake in Mongolia is generally not a good idea. A light tap on the brake pedal, a quick swerve to avoid a mound of snow, and the Russian-made UAZ minivan starts spinning in circles, the driver struggling to regain control.

Mongolian Minister of construction Kh.Battulga said that housing loan shall be squeezed down to 6% per annum.

Where Turtogtokh Luvsandorj comes from, wrestling goes back a long way. And we're not talking the 1980s heyday of Hulk Hogan, either.