Mongolian Economy and Finance

CALLS for justice by Mongols have shattered the calm in the resource-rich, prosperous borderland of northern China to which the leadership in Beijing has grown accustomed.

Mongolia Mining Corp (0975) aims to boost annual revenue by 1 times to about US$700 million (HK$5.45 billion) by doubling production and launching a washed coal business.

China’s Inner Mongolia Autonomous Region said it will take measures to improve the mining industry, part of new rules following protests by ethnic Mongolians sparked when a coal truck ran over a herdsman.

Copper rose to its highest in three weeks on Friday, reversing losses in the previous session, as a weaker dollar boosted prices.

There is good news for Mongolian nomads on both sides of the Russian-Mongolian border: Your centuries-old traditional dwelling is about to receive a welcome upgrade.

CUMBERLAND, Ohio (AP) — You dine by the light of an outdoor fire, sleep in a yurt and wake up for a safari to see antelope, zebras, rhinos, giraffes and camels.

BEIJING: China's largest rare earths producer has said it has won official approval to set up the nation's first exchange for the coveted minerals, in a move analysts said would further regulate the market.

Travel Award: Recent UPS graduates Margaret Shelton and Jacki Ward have each won a fellowship to pursue their passion around the world for a year.

Oleg Deripaska has been losing ground to Russian rivals in Mongolia, and is facing unprecedented administrative sanctions in Ukraine and Russia.

Mongolian President Tsakhiagiin Elbegdorj is arriving in Russia on an official visit on Monday.

Russian delegation participating in Mongolia-Russia Government-to- Government JV consultative meeting, or “Soviet”, had requested “Asgat” silver deposit be removed from Strategic Deposit List of Mongolia.

Government of Mongolia (GOM) stated on May 25, 2011 on coordination of productive development in Gobi by united policy

Russia, the primary supplier of fuel to Mongolia, has substantially cut fuel exports to Mongolia for the month of May.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Green Technology Solutions, Inc. (OTCQB: GTSO ) announced today that excavation is underway in Mongolia for the company’s first shipment of rare earth ore to South Korea.

Mongolia is running critically low on diesel after Russian deliveries failed to arrive, a development that threatens to crimp mining activity in the resource-rich country.

The 5th meeting of the Intergovernmental Ukrainian-Mongolian Commission for Trade-Economic and Scientific-Technical Cooperation is taking place in Ulaanbaatar, Mongolia.

May 27 (Bloomberg) -- Former Merrill Lynch & Co. banker Mike Howe is moving to New York to help bored finance workers escape Wall Street for far-flung jobs and adventures, from Mongolian venture capital to African charities.

NATO’s Deputy Assistant Secretary General for Political Affairs and Security Policy of Alliance, James Appathurai, and his delegates visited Mongolia for the first time ever at the invitation of the Mongolian Defence Minister, Luvsanvandan Bold on 26-27 May.

(VOV) - The Vietnam and Mongolia Writers’ Associations signed a cooperation agreement in Hanoi on May 26.

Investing in... Mongolia What is the fund?

05/25/11 Gaithersburg, Maryland – Last year, something important happened in the coal markets. China actually imported coal for the first time.

The NATO Deputy Assistant Secretary General for Political Affairs and Security Policy, Mr. James Appathurai, travelled to to Ulaanbaatar from 25-27 May 2011 for the first high-level talks between Mongolia and NATO.

Company Plans to Ship 15 Tons of Rare Elements from Mongolia to Seoul Soon.

MONGOLIA: The underdeveloped resource-rich country is about to undergo a massive transformation – even if that does mean working with its distrusted neighbour, China

With commodity prices booming and demand soaring, this is an exciting time to be part of the mining industry.

A group of 90 Mongolians is planning to jointly sue the Czech Republic over the closed access to work visas for selected foreigners with work permit, daily Lidove noviny (LN) writes Monday, referring to Prague’s quotas on foreign workforce admission.

As the implications of Japan’s Fukushima nuclear disaster reverberate throughout the global generation sector, coal markets are bracing themselves for an upswing in prices.

May 25, 2011 - basis point - Mongolia’s state-owned Erdenes MGL LLC has chosen Standard Chartered Bank as financial adviser for its roughly US$15bn Tavan Tolgoi project, the world’s largest untapped coking coal project, a source familiar with the matter said.

The China Post news staff--China Airlines donated 350 used 15” LCD monitors to the Ulaanbaatar Trade and Economic Office in Taipei, Mongolia's representative office in Taiwan, at the inauguration ceremony yesterday of the Mongolia Culture, Education, Health and Economic Cooperation Association in Taiwan.

A benchmark coal wash plant in the new mining hotspot of Mongolia has hit its critical ‘lights on’ date with the help of nine Australian electrical engineers.

Global copper mine production hit speed bumps last quarter, interrupting a growth trend that the copper industry counted on to meet strong global demand and justify aggressive expansion plans.

Overall construction of the Oyu Tolgoi Project was 15.1% complete by the end of Q1’11, slightly ahead of the planned 14.8%. Total capital invested in the project by the end of Q1’11 was $1.8 billion.

Not for distribution to U.S. newswire services or for dissemination in the United States.

The world’s newest housing price index is trending up in 2011 thanks to rising foreign demand and increased rental returns.

Historically, there has been a strong correlation between an abundance of natural resources and governance issues.

In recent months, news outlets in Japan and the U.S. have reported that Mongolia is negotiating with those two countries to serve as a regional depository for spent nuclear fuel.

May 24 – The Far Eastern Russian city of Vladivostok is set to experience a boom as concerns over China’s aggressive slashing of mineral exports dictate the need for new supplies.

SINGAPORE, May 24, 2011 /PRNewswire-Asia/ – — Genghis Khan Connection offers thrice-weekly rail services along one of world’s most challenging trade routes

The decision to employ 6949 workers from China in Oyu Tolgoi greatly upset the people of Mongolia, especially since unemployment rates have reached 40 thousand.

Korea’s Industry & Technology Times have reported on its website that Korea purchased 30,000 hectares of land in Khalkhgol Soum in the eastern province of Dornod.

Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that the company signed a letter of intent with Ar Erkhes, LLC, to participate in a profit arrangement for the excavation and shipping of rare earth ore from Mongolia to South Korea.

Perth-based C @ Limited (ASX: CEO) has commenced an interesting exploration program on the Mongolian coal licenses it currently has under an option agreement, and has mobilised a rig to commence drilling in South Gobi province.

Talking to a student at the University of Humanities today, it is easy to see the influence of Western styles on the Mongolian youth. Yet it is even easier to notice their pride in Mongolian culture everywhere.

The President of Mongolia, Elbegdorj Tsakhia, has received a delegation of the European Parliament led by Paolo Bartolozzi, head of the European Parliament’s Group for Central Asia and Mongolia.

The FINANCIAL -- ULAANBAATAR, 23 May 2011 – Strengthening synergies between the 56 participating States of the OSCE and its Asian Partners for Co-operation in addressing transnational threats, such as illicit drug trafficking.

Mongolia has always conjured a mix of exotic appeal and isolation. Sandwiched between Russia and China, Mongolia has for decades endured severe economic stagnation and political repression.

AUSTRADE chief executive Peter Grey is used to the complex world of international trade negotiations after a career as a senior trade diplomat.

The Mongolian Government has officially opened the Development Bank of Mongolia, with a mandate to provide policy loans in infrastructure, industry, energy and roads.

Mongolia is going to be a major future supplier of commodities from coal to gold to copper-and maybe even crude oil.

A benchmark coal wash plant in the new mining hotspot of Mongolia has hit its critical ‘lights on’ date with the help of nine Australian electrical engineers.

May 23 – The Mongolian government has agreed with the government of Japan on a US$270 million soft loan, repayable over 40 years at a rate of just 0.2 percent to build a new airport to service Mongolia’s capital, Ulaanbaatar.

PERTH (miningweekly.com) − Mongolian coal developer Hunnu Coal has paid $40-million for Rio Tinto’s 70% stake in the Altai Nuurs coal joint-venture (JV) project, in the Gobi Altai province in Mongolia, the company announced on Monday.

Underneath the endless brown steppe in the remote northeastern corner of Mongolia, known as Dornod, lies a vast store of uranium.

Export advisors have backed reforms to the Australian Trade Commission that will see the agency shift resources from Australia, North America and Europe and focus on emerging markets, as the agency seeks to beef up its international market and focus on export-ready companies.

Oil explorer Petro Matad has commenced drilling operations at the Davsan Tolgoi-5 (DT-5) exploration well in Block XX, Mongolia.

Dine by the light of an outdoor fire, sleep in a yurt and wake up for a safari to see antelope, zebras, rhinos, giraffes and camels.

The total number of chinese construction workers currently in Mongolia could well exceed 30,000.

Green Technology Solutions ( News - Alert ) (GTSO) announced on May 17 that it will offer a live video feed via satellite of the beginning, transit, and delivery of its first shipment of rare earth ore from Mongolia to South Korea, a staunch U.S. strategic economic and military ally.

Public work in the city centre dispels rumours of 40K building to be destroyed. As the city of Ulaanbaatar launches a large redevelopment of the city centre area projects, the 40K area is set to keep up its price appreciation.

VANCOUVER, BRITISH COLUMBIA — Entree Gold Inc. (TSX: ETG)(NYSE Amex: EGI)(FRANKFURT: EKA) ("Entree" or the "Company") has today filed its interim operational and financial results for the first quarter ended March 31, 2011.

More than 700,000 people, many of them ex-herders and their families, now crowd the gers sprawling north of Ulan Bator.

In the 13th century, Mongol emperor Kublai Khan and his harem sported silk gowns, fur cloaks and jewel-encrusted head ornaments at their home — the legendary pleasure palace in Xanadu.

SINGAPORE - Ivanhoe Mines (TSX:IVN) reported a US$492.5 million net loss in the first quarter, primarily due to the revaluation of a derivative security as the company worked on building the huge Oyu Tolgoi copper-gold-silver complex in Mongolia.

May 12 (Reuters) - Canadian Coal miner SouthGobi Resources Ltd posted a narrower quarterly loss, helped by an increase in selling price for coal.

Quite a lot has happened since the London Stock Exchange in February announced a "merger" - the term is in dispute - with the Canadian bourse operator TMX.

Mongolia’s newly created development lender is aiming to sell $700 million of domestic-currency bonds in 2011, with sales scheduled to begin this month, the bank’s chairman said.

Mongolia is a nation with extreme climatic conditions and diverse demographics. The whole of the desert country boils in the summer whereas the winter brings chilly cold conditions to the region.

Meet modern Mongolia—a mishmash of PlayStations, yurts, heavy metal, teenage shamans, Genghis Khan toilet paper, fried meat, and ancient glory.

Losses during electricity transmission and distribution in the central region of Mongolia were brought down 19.4% in the one year since April, 2010.

The Standing Committee on the Economy today discussed a proposal of the Government asking for MNT110 billion to support the wool and cashmere sector in Mongolia, at a time when world demand for cashmere is on the rise.

Altai Cashmere LLC, owned by Prime Minister S.Batbold, has withdrawn from Mongol Negtgel, an umbrella organization of cashmere producers, following the controversy over low-interest Government loans to companies in the sector from money raised through sale of bonds.

As Ulaanbaatar gets ready to commission its first Subway system, who will get to build it?

May 11 (Reuters) - Canadian heavy oil producer Ivanhoe Energy Inc posted a wider quarterly loss hurt by higher costs.

TORONTO - Denison Mines Corp. (TSX:DML) says it had a net loss of US$7.1 million dollars, or two-cents per share, for the first quarter.

Guildford Coal (ASX: GUF) has been granted a trading halt by the ASX pending an 'exploration results' announcement by the company.

SouthGobi Resources Ltd.(TSX:SGQ)(SEHK:1878), (the "Company" or "SouthGobi"). Russia, the primary supplier of fuel to Mongolia, has substantially cut fuel exports to Mongolia for the Month of May.

Mongolia plans to issue its first sovereign bonds this month, marking a milestone for capital markets in this resource-rich democracy.

(Reuters) - Mongolia has not been in talks about importing nuclear waste from other countries, its embassy in Vienna said, after a report that Japan and the United States planned to build a spent nuclear fuel storage facility there.

In the first 4 months of 2011, Mongolia traded with 107 countries, a total external trade turnover reached 2746.8 million US dollars, of which exports made up 1,162.7 million US dollars and import made up 1,584.1 million US dollars.

In the first four months of 2011, 5,581.7 thousand freight and 1,143.6 thousand passengers (double counting) were carried by railway transport.

Spring planting in Mongolia officially begins today, and the Ministry of Food, Agriculture and Light Industry hopes it will be over in two weeks.

Last Saturday was the Day of Public Labor in Mongolia.120,000 people of province organizations and 55,000 people of Ulaanbaatar city organizations marked the day.

ULAN BATOR, May 11 (Xinhua) -- Mongolian foreign minister G.Zandanshatar and Japanese Ambassador to Mongolia Kidokoro Takuo have denied the possibility of setting up nuclear waste storage facility in Mongolia, local media reported on Wednesday.

Rotary sponsors exchange with Hong Kong, Mongolia.

ORONTO, ONTARIO -- (Marketwire) -- 05/10/11 -- Khan Resources Inc. (TSX: KRI) ("Khan" or "the Company") announced today that it has filed its financial statements and management's discussion and analysis for the three and six month periods ended March 31, 2011 on SEDAR and has posted these documents to its website www.khanresources.com .

The World Bank has said in its latest quarterly report that Mongolia’s economic prospects in the medium term look excellent from the perspective of both growth and fiscal management.

ULAANBAATAR ― Visitors in Korea often mention an overwhelming Western influence in Seoul.

The FINANCIAL -- WASHINGTON DC, May 10, 2011 – Today, the World Bank ’s Board of Executive Directors approved an investment credit of US$25.0 million for the Mining Infrastructure Investment Support Project (MINIS).

May 10 (Reuters) - Coal miner SouthGobi Resources Ltd ( SGQ.TO ) warned on Tuesday that it is facing fuel shortages and may have to curtail operations following Russia's recent move to curb fuel exports.

Younger tyrannosaurs and similarly built species of dinosaur probably relied on speed and agility, rather than sheer power like their parents, to find their food.

According to the information received from the Mineral Resources Authority of Mongolia, there are 5234 mining licenses which are valid in Mongolia.

The UB POST is acting as a media sponsor for a conference called “MONGOLIA:Capital Raising & Investment” scheduled in early June of 2011.

“Fashion Asia 2011 Award Presentation Ceremony” was held in the night of April 25th 2011, in Dalian, China (Lushun) together with the International Cherry Blossom Festival.

From Mongolia, eight chess players participated in the championship and a Mongolian girl T.Monkhzul with a scores seven won the silver medal in age category-9.

Russia and other former Soviet republics marked the 66th anniversary of World War II victory over Nazi Germany on May 9th.

An official of the government’s implementing agency for physical culture and sports, Ch.Naranbaatar and other Mongolian officials participated in the Global Sports Management Summit, which took place from April 29th to May 1st, in Taipei city of Taiwan.

A Mongolian short film called “Dream” by director Ch.Khoroldorj, is to compete in the Cannes Film Festival. Never before was a Mongolian film been selected to compete in the Cannes Festival in the history Mongolian film industry.

In an otherwise moribund economy, recent years have witnessed one area of runaway growth: the creation of quirky acronyms to describe the next hotspots of emerging world development.

Researchers working in the western Gobi Desert in Mongolia have discovered the almost complete skeleton of a tyrannosaurid dinosaur that was less than 3 years old when it died, younger and smaller than any previously known.

The Mongol Bank has made a currency swap contract with the China Central Bank to support Yuan procurement.

Mongolia is a nation with rich resources, including –copper, gold, iron ore, molybdenum, oil, phosphates, tin, uranium, tungsten- and coal. Its ample mineral wealth has earned it the nickname of “Saudi Arabia of Central Asia.”

WASHINGTON—The U.S. and Japan confirmed Monday that they have held discussions with Mongolia about nuclear waste management, but both denied that they have any plans to send their spent nuclear fuel to the lightly populated Asian nation.

Petroleum importers increased fuel prices by MNT80 per liter from May 1.

The Business development center has opened in Dalanzadgad soum of Omnogobi aimag. Aim of the center is to support and train the local businessmen who want to become suppliers of the Oyutolgoi LLC.

Amendments to the law on health that Parliament adopted on Wednesday provide for doctors and nurses in aimag and region centers to be paid bonus equal to six months’ salary every five years.

For more than 40 years, the Korea Development Bank has built up a reputation as a core Korean bond issuer in the global capital market.

These have been donated by UNICEF and will be distributed to all 21 aimags in Mongolia also.

WASHINGTON, USA (AFP) — Afghanistan is the worst place in the world to be a mother and Norway is the best, an annual report released Tuesday said.

Slickly made bank robbery comedy that's far from the traditional image of Mongolian-set movies. Asian and genre festivals, plus niche TV.

Peasant farmer Wang Tao used to grow corn, potatoes and wheat within a stone's throw of a dumping ground for rare earths waste until toxic chemicals leaked into the water supply and poisoned his land.

Voyager Resources (ASX: VOR) has entered into an agreement to acquire up to 80% of the Khul Morit Copper Project in the Gobi Region of Mongolia.