Mongolian Economy and Finance

The time has come once again to consider the reason behind the current increase in fuel deficit in Mongolia and think over the measures that our government should take to avoid this crisis so as to depend less on the accompanied price inflation.

In the first four months of 2011, Mongolia exported products to the value of 1162.7 million USD. These exports are up 59.4 percent from the same period in 2010, said National Statistics Office of Mongolia.

(Before 1990, Mongolia was a country of only one party; Mongolian Democratic Party. After Mongolia choose to convert from Communism to Democracy the Mongolian governmental system also changed.

Interesting news is spreading about the establishment of an online political site. There is no discrimination, internet users all over the world will be able join and be involved in its operation.

Our guest is Nyam-Osor Tseveendorj, director of the Government implementing agency for Small and Medium Sized Enterprises (SME).

Xanadu Mines has finalized a farm in agreement on the Nuurstei coking coal project in Northern Mongolia as part of its strategic alliance with Noble Group, Asia's largest diversified commodities trading company.

WASHINGTON, D.C. (BNO NEWS) -- The U.S. Federal Aviation Administration (FAA) on Thursday announced that it has agreed to a commerce and aeronautics cooperation with the Civil Aviation Authority of Mongolia.

Jun. 17 – 2point6billion.com has unconfirmed reports from Mongolia’s South Gobi region, home to much of the nation’s mining industry, that hundreds of Chinese truck drivers have been turned back to the China border.

The 2011 Mongolia International Marathon will take place on 24th July in Sunjinboldog complex, located near Ulaanbaatar.

The President of Mongolia, Ts.Elbegdorj, paid an official visit to the United States of America between13th and 17th June, as the guest of his American counterpart Barack Obama.

Mongolia may share its Tavan Tolgoi coal mining project between a majority of the six bidders shortlisted by the government and ask them to work together, Prime Minister Sukhbaatar Batbold said in an interview today.

(Reuters) - Japan will partner with Keihan Electric Railway Co and others for railway projects in Vietnam, Mongolia and Indonesia , The Nikkei business daily said.

NEW YORK ( TheStreet ) -- Ivanhoe Mines (NYSE: IVN ) is trading at unusually high volume Thursday with six million shares changing hands.

HALIFAX, NOVA SCOTIA, Jun 15, 2011 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. ("Erdene" or "Company") CA:ERD -3.13% , today provided an update on the Company's principal projects in conjunction with the release of its first quarter 2011 financial results.

Clean water is a rare commodity in many countries of the world, and governments often face problems ensuring its reliable supply.

BEIJING, June 16 (Xinhua) -- China and Mongolia on Thursday agreed to upgrade bilateral ties to a strategic partnership level and bolster economic cooperation.

HALIFAX, NOVA SCOTIA, Jun 16, 2011 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. ("Erdene") CA:ERD -3.13% is pleased to announce that drilling commenced on the Nomin copper-gold prospect on June 12th and upon completion, drilling is set to continue on the Khuvyn Khar copper-silver prospect.

WASHINGTON — Mongolia promised Thursday to give US companies a role in its booming energy sector as President Barack Obama reached out to the young democracy that is also being courted by neighboring China.

HALIFAX, NOVA SCOTIA--(Marketwire - 02/17/11) - Erdene Resource Development Corp. ("Erdene") (TSX: ERD - News ) is pleased to provide the complete results from the 2010 drill program at its Zuun Mod molybdenum and copper project in southwestern Mongolia.

TOKYO, June 15 (AP) - (Kyodo)—Nine residents of three Japanese prefectures hardest hit by the March earthquake and tsunami will be invited to take part in an international marathon in Mongolia on July 24, the organizing group said Wednesday.

BEIJING - Wang Jiarui, chief of the International Department of the Communist Party of China (CPC) Central Committee met with Mongolian Prime Minister and the Chairman of the Mongolian People's Party Sukhbaatar Batbold on Thursday.

ULAANBAATAR, Mongolia — As the leader of a diminished land that was once an invincible superpower, President Tsakhia Elbegdorj of Mongolia has some advice for Americans fatigued by the burdens of global power: Remember Genghis Khan, and stick with your friends.

BEIJING -(Dow Jones)- Mongolia's prime minister on Thursday said Mongolian companies have started to invest in China, and that the nation hopes the Chinese authorities can provide these firms with support.

Demonstrating progress in the Mongolian Economy. Mongolian GDP per capita is one of the fastest growing in the world.

Voyager Resources (ASX: VOR) has entered into a number of service contracts to facilitate the exploration of its key projects located in Mongolia.

Erdene Resource Development Corp. expects to have a critical technical report on the Donkin coal project within weeks, says the company’s vice-president.

Deep in southwest Mongolia, in the arid shadow of the Altai Nuruu Mountains, a little-known bear ekes out a perilous existence.

Mongolia's prime minister says a huge copper and gold mining complex in southern Mongolia is on track to be completed next year.

Company Expects Positive Analysis to Drive Demand from South Korean Rare Earth Buyers.

WASHINGTON, June 16 (UPI) -- The country known for Genghis Khan is a U.S. friend that merits increased U.S. attention, Mongolia's president said before meeting with President Barack Obama.

BEIJING, June 16 (Xinhua) -- Wang Jiarui, chief of the International Department of the Communist Party of China (CPC) Central Committee met with Mongolian Prime Minister and the Chairman of the Mongolian People's Party Sukhbaatar Batbold on Thursday.

A Minister of Social welfare and labor of Mongolia, T.Gandi has been taking part in a 100th plenary meeting of international labor forum themed “Create proper labor in future” in Geneva, Switzerland, June 1-17.

The Asia Foundation president Mr. David D. Arnold has hosted a private dinner at the Four Seasons in San Francisco for the President of Mongolia Ts.Elbegdorj, the website of the U.S Embassy in Mongolia said Wednesday.

A delegation of the U.S. House of Representatives led by Chairman David Dreier visited Mongolia June 10-11, 2011 to engage with MPs as part of a series of ongoing exchanges through the House Democracy Partnership (HDP).

A U.S. Congressional team now on a visit to Mongolia as part of the “Partners in Democracy” program visited Bayanzurkh district yesterday and met with managing officials and citizens there.

Gal Undesten Union and United Movements for Rivers and Lakes yesterday met with representatives of Puraam and Centerra Gold and handed over a note containing several demands.

Kristín A. Árnadottir, Ambassador of Iceland, presented a Letter of Credentials to the President of Mongolia, H.E. Tsakija Elbegdorj, on 6 June of this year.

HONG KONG—Mongolia's prime minister said he hoped to make progress on several "serious projects" under discussion with China during meetings with leaders in Beijing in the next few days.

HONG KONG — Mongolia’s prime minister says a huge copper and gold mining complex in southern Mongolia is on track to be completed next year.

Hopefully, Mayor Ed Lee woke up feeling sociable -- and hungry -- today. After a lengthy lunch with First Lady Michelle Obama , he met up with Mongolian President Tsakhiagiin Elbegdorj to chow down on more grub.

Xanadu Mines (ASX: XAM) has finalised a farm-in agreement on the Nuurstei coking coal project in Northern Mongolia as part of its strategic alliance with Noble Group (SGX:N21), Asia's largest diversified commodities trading company.

HONG KONG - The Consulate General of Mongolia in Hong Kong was established here Tuesday, with Prime Minister of Mongolia Sukhbaatar Batbold officiating the inauguration ceremony.

The Czech air force plane carrying four prized Przewalski horses from the Prague Zoo has landed in Khovd, Mongolia.

Przewalski horses bred at Prague Zoo take off for introduction into ancestral habitat in Mongolia. Test for military’s new CASA plane.

Last Friday, my debut article, “Newcomer to Mongolia” was published in the UB Post. I’m extremely excited about that.

The 2011 French-Mongolian Cultural Days will take place in Ulaanbaatar and Bat-Olzii soum of Ovorkhangai province respectively, from 20th to 26th June.

Microfinance Focus June 14, 2011: Belgian Investment Company for Developing Countries (BIO) recently committed USD 2 million to Suu, a dairy processor based in Ulaanbaatar, Mongolia.

The result of the 2010 Population and Housing Census was presented at the Ikh Tenger State Guest House the day before yesterday.

ULAN BATOR -- The 12th session of inter-government cooperation committee for economy, trade and technology between China and Mongolia opened on Monday.

Company Expects Positive Assay to Help Entice S. Korean Rare Earth Buyers.

For years Mongolians could only mine coal and export it directly to overseas without processing; this lead to Mongolian coal being undervalued.

DAMAO BANNER, China — The Mongol nomads who have ranged across these blustery grasslands for millenniums have long had a tempestuous relationship with their Han Chinese neighbors to the south.

BEIJING -- More than 500 scholars, entrepreneurs and officials from both home and abroad are expected to convene in north China's Inner Mongolia Autonomous Region next month to discuss the prevention of desertification and seek opportunities for emerging industries in the region, organizers said.

Engineering giant Bechtel Corp. will create a master plan for a heavy industrial complex in Mongolia that includes an oil refinery and coal gasification power plant.

* No amount decided for debut bond issue * Mongolia eyes power expansion to feed Chinese demand

JAKARTA—With a budget surplus and no need of funds at the moment, Mongolia isn't in a hurry to issue its first sovereign bonds, Vice Finance Minister Ganhuyag Chuluun Hutagt said Saturday.

As Mongolia's President heads towards the US, ties between the two countries keep strengthening. Mongolian Parliament speaker Damdin Demberel welcomed a delegation of U.S. lawmakers Thursday, saying their support had helped his country develop its administration.

JAKARTA—Mongolian Prime Minister Sukhbaatar Batbold Sunday said that his government hopes to finalize the first round of negotiations with bidders to pick the operator of the Tavan Tolgoi coal mine project by the end of June, although the timeline could be stretched.

Mr. Eric Landheer eats very carefully in Ulaanbaatar, Mongolia. He never tries the famous tsagaan idée.

Reporters Without Borders emphasised on 6 June 2011 the increased levels of censorship being endorsed by Chinese authorities in Inner Mongolia.

Government of Mongolia(GOM) stated today, 03/09/2011 that addition and amendments to Oyu Tolgoi Shareholders agreement have been signed by Erdenes MGL and OT companies representatives.

Mongolian national basketball team is preparing to compete in East Asian Basketball Championship.

Seoul based private equity firm, Doran Capital Partners and central Asia-focused investment bank Eurasia Capital, are courting Korean institutional investors for a private equity fund focused on Mongolia.

Japan Bank for International Cooperation (JBIC) is ready to support the oil refinery project of Mongolia, said Mr. Ryuichi Kaga, JBIC’s Resident Executive Officer for Asia and Oceania, when he met with Mongolia’s Parliament Speaker, Mr. Demberel, in Ulaanbaatar.

An international green competition “Ecopreneur 2011” took place from 6th to 10th of June, in Ulaanbaatar.

On June 8th “Mongolian People’s Inspection Committee” held a protest gathering at the Central Square.

* Arbitration proceeding with Rio Tinto expected to resume this month * Says arbitration not to adversely affect construction at Oyu Tolgoi * Shares rise 3 pct in Toronto, New York (Adds details, share movement)

“I thought nothing. I was just counting my rotation while I was rotating”

President of Mongolia Tsakhia Elbegdorj is to pay an official visit to the United States of America between June 13th and 18th, 2011, as the guest of his American counterpart Barack Obama.

Retired travel agent Andy Jamieson of Moncton is convinced that investors can make money by investing in Mongolia, and is now putting together a fact-finding adventure tour to the Asian nation.

Imagine this: You arrive in Mongolia, having just secured a job here only a week beforehand, and having gone through the rigmarole of obtaining visas and last-minute air passage.

Junior explorer Voyager Resources believes that forthcoming deep drilling will unlock the potential of its Khongor copper-gold project in Mongolia.

Shanghai Securities News citing unspecified government authorities reported that China’s demand for coking coal is expected to increase by 180 million tonnes by 2015.

The top 40 global mining companies are poised to break through the US$1 trillion asset mark this year, due to record levels of cash, property and equipment on balance sheets, says a new PwC report.

Rio Tinto Limited, the diversified mining giant which assumed direct management of Oyu Tolgoi late last year from Ivanhoe Mines, has, after intensive Simulator Supplier evaluations, selected ThoroughTec’s latest generation CYBERMINE4 mining simulators to enhance operator skill and safety.

But just what are critical metals? They are sometimes referred to as “strategic” or “technology” metals, but clear definitions for these terms often prove elusive and routinely depend on to whom you’re talking.

Mongolian Government is testing the international finance waters.

But this is still limited to Mongolian citizens only and under certain conditions.

Sometime in the next 12 months, an energy IPO offering in distant Mongolia already has foreign investors salivating.

Bill Gorman, new president of the MSE has announced at a recent meeting that it was making progress but needed legal changes from parliament to keep pressing forward.

Jun. 9 – Mongolian President Tsakhiagiin Elbegdorj has been in Russia recently meeting with Russian President Dmitry Medvedev and Prime Minister Vladimir Putin.

Hong Kong Air Cargo Terminals Limited (Hactl) is pleased to announce that MIAT Mongolian Airlines has appointed Hactl as its cargo ground handler at Hong Kong International Airport to support its new service between Hong Kong and Ulaanbaatar.

One month after a traffic fatality touched off widespread protests in the northern Chinese region of Inner Mongolia, a court has sentenced a coal truck driver to death for running over and killing an ethnic Mongolian herder.

Petro Matad has provided an update on its drilling activities on the Davsan Tolgoi Prospect on Block XX in Eastern Mongolia.

The Export-Import Bank of Korea (Korea Eximbank) signed a $20 million inter-bank export loan agreement with the biggest Mongolian commercial lender Wednesday providing more opportunities for domestic exporters, the state-run lender said.

Company to Realize a Percentage of Net Profits Generated by Rare Earths Production.

BEIJING — An ethnic Han truck driver who killed an ethnic Mongolian herder in a hit-and-run accident last month, sparking Inner Mongolia’s largest protests in 20 years , was sentenced to death on Wednesday by a court in Xilinhot, the area of Inner Mongolia where the accident occurred.

Some 40 Korean and 100 Mongolian companies are attending a business forum in Ulaanbaatar today. It has been jointly organized by the Foreign Investment and Foreign Trade Agency, the South Korean Embassy to Mongolia, the Mail Kongje media group of South Korea, and the Mongolian National Chamber of Commerce and Industry.

The Ministry of Food, Agriculture and Light Industry, The UN Food and Agriculture Organization (FAO), the Union of Mongolian Food Producers and the Friedrich Ebert Foundation of Germany are jointly organizing the Food Security of Mongolia – 2011 forum on June 24.

Ulaanbaatar, Mongolia, /MONTSAME/ The Prime Minister of Mongolia, S.Batbold is going to leave to China for twoday visit in the middle of this month.

On 6 June in Ulan Bator, Lithuanian Ambassador to China Lina Antanavičienė presented credentials to the President of Mongolia Tsakhiagin Elbegdorzh. At the meeting following the solemn ceremony, L.Antanavičienė and T.Elbegdorzh discussed the relations between Lithuania and Mongolia that had been intensifying during the recent years, and the cooperation of the two countries within international organizations.

Oyu Tolgoi LLC today paid US$100 million to the Government of Mongolia, ahead of the payment schedule outlined in the Investment Agreement.

Mongolia will exhibit one of the world´s fastest growing mining sectors with phenomenal growth of gold, copper and coal production.

(Reuters) - A court in China's vast northern region of Inner Mongolia began hearing a homicide case against two men accused of killing an ethnic Mongolian herder, state media said on Wednesday, an incident that set off days of rare protests.

Petro Matad has provided an update on its drilling activities on the Davsan Tolgoi Prospect on Block XX in Eastern Mongolia.

China has restructured its rare earth industry in the region of Inner Mongolia, allowing only one company to continue to operate there.

BEIJING — China put four people on trial Wednesday for the death of an ethnic Mongol herder that sparked protests across the Inner Mongolia region over allegations of resource exploitation and environmental damage.

LONDON - Australian coking coal producers risk losing Asian market share to US and Canadian suppliers because of the Australians' quarterly prices which are seen as inflated, Ron Beveridge of Ronly Bulk Trading said.

Analysts at Westhouse have sounded a very upbeat note on prospects for Mongolia-focused oil group Petro Matad ( LON:MATD ) thanks to its increasingly successful exploration programme, strong and capable technical team and 'exceptionally large' prospective exploration blocks.

NEW YORK -( Dow Jones )- Construction of the Oyu Tolgoi copper mine in Mongolia is well ahead of schedule and revenue from byproducts will substantially offset the cost of production, Ivanhoe Mines Ltd. (IVN, IVN.T) Chief Executive Officer Robert Friedland said Tuesday.

Sometime in the next 12 months, an energy IPO offering in distant Mongolia already has foreign investors salivating.

Ulaanbaatar, Mongolia, /MONTSAME/ A Mongolia-South Korea business forum will be held Wednesday in Ulaanbaatar.

Ulaanbaatar, Mongolia, /MONTSAME/ The Parliament Speaker D.Demberel met Monday Steven Barnett, a deputy division chief in the Asia-Pacific department of the International Monetary Fund (IMF).

Ulaanbaatar, Mongolia, /MONTSAME/ China, Mongolia and Russia's economic, trade and cooperation forum is to run August 26-30 in Erlian of China.

Ulaanbaatar, Mongolia, /MONTSAME/ International meeting on a “Tea road” project has ran. The project will be co-implemented by Tourism department of Nature environment ministry of Mongolia, Tourism bureau of Chinese Inner Mongolia autonomous region and national tourism agency of Russia's Buryatia.

ULAN BATOR, June 3 (Xinhua) -- The Mongolian parliament on Friday passed a law banning the issuance of new mining exploration licenses.

President of Mongolia Ts. Elbegdorj’s State Visit to the Russian Federation continues in the historic city of Saint Petersburg.

President of Mongolia Ts. Elbegdorj continues his official meetings this week as he meets with, B. V. Gryzlov, the Speaker of the State Duma.

Rising Demand and Dwindling Chinese Exports Threaten U.S.’s Rare Earth Supplies.

Reporters Without Borders has learned that more websites in Inner Mongolia are being censored by the Chinese authorities, who are now using more insidious and less visible methods than just blocking a site.

The government of Japan has come upon an agreement with the Mongolian Government on a 270-million USD loan repayable over the 40 or so years at a redeemable rate of just 0.2 percent, to build a new airport to service Ulaanbaatar.