Mongolian Economy and Finance

Ts. Shinebayar, a Member of Parliament and former deputy in the MPRP, has announced that he has established a new party called the Khamug Mongol Labor Party.

The Mineral Resources Authority has released a report on mining’s environmental impact and the results are worse than expected.

Ulaanbaatar, Mongolia /MONTSAME/ Ch.Jargalsaikhan, the Vice Minister of Tourism and Environment has held a meeting with a crew of reporters of the “DEEP” leading tourism magazine of China to give an interview on the present situation and the development trends of the tourism industry in Mongolia.

There are reports that a British judge will visit Mongolia in connection with the case of B. Khurts, the Chief of Administration at the National Security Council who has been charged with abduction and dangerous bodily harm in Germany.

At today’s meeting of the Cabinet it was decided that each university, institute, correspondence, and evening course student in Mongolia will receive a MNT 500,000 grant for tuition fees from the Human Development Fund.

Ulaanbaatar, Mongolia /MONTSAME/ Thai representatives led by Suthichai Virakulsantorn, the chairman of the Bangkok city assembly are visiting Ulaanbaatar, at an invitation of T.Bilegt, the chairman of the city's Citizens Representatives Khural.

There have been many state and official visits to Mongolia this month. President of India, President of South Korea, Vice President of the U.S have all paid visit to Mongolia followed by the current visit of President of Finland.

The South Korean Development Bank will manage the Development Bank of Mongolia under the terms of an agreement signed yesterday at the Government House in Ulaanbaatar.

(SBU) SUMMARY: On February 1, 2010, Canadian uranium exploration company Khan Resources (KR) announced its intent to accept an offer from the Chinese National Nuclear Corporation (CNNC) to buy controlling interest in KR through the purchase of shares.

KOLKATA | MUMBAI: A cut in production by steel producers and higher purchases of coking coal by large countries, from Mongolia, has led to a softening of benchmark coal prices from the traditional coal producing country, Australia.

(Updates with Mongolia’s stock market performance in sixth paragraph.)

Korea's strong economic influence in Mongolia has expanded into the banking sector.

(CNN) -- Dolgorsuren Dagvadorj a big man with big ambitions.

OUTOTEC OYJ PRESS RELEASE, AUGUST 31, 2011 AT 9.00 AM

Mongolia ’s first private-equity fund, started by a former Uniqlo executive, plans to make its debut investment by the end of October, betting on growth in the country’s mining industry.

HONG KONG—Mongolia aims to list simultaneously in three cities the company that controls one of the world's largest coking-coal deposits, people familiar with the matter said Wednesday.

Today many governments are looking at ways to get more money from miners as companies report record profits.

(Reuters) - The world's biggest steelmaker and America's largest coal producer could pay top dollar for Australia's Macarthur Coal ( MCC.AX ), but they are likely to reap a benefit if the surging Asian steel business keeps growing.

Voyager Resources' (ASX: VOR) drilling program in Mongolia just took on new dimensions - intersections of 84 metres at 3.2% copper and 9.7 g/t silver are just the start.

A journalist spoke with M. Batchimeg, the president’s national security adviser, about nuclear waste and other issues.

VANCOUVER, BRITISH COLUMBIA, Aug 30, 2011 (MARKETWIRE via COMTEX) -- Kincora Copper Limited CA:KCC +17.39% (the "Company" or "Kincora Copper") - -- Kincora acquires outstanding 25% of Kincora Group Limited in exchange for 20% of Kincora Copper shares.

TPL Corporation (ASX: TPL) will raise up to A$1.42 million through the placement of up to 78.9 million shares at $0.018 per share to identify and acquire underexplored and undervalued coal assets in Mongolia.

China and Mongolia look forward to closer youth exchanges during the visit of a Mongolian youth delegation.

A little bit of Mongolia was delivered to Chadron this month.

Petro Matad tumbled 29.9 per cent to 55p after the explorer said testing of a well at its Davsan Tolgoi project in eastern Mongolia had failed due to mechanical problems.

Mongolia plans to seek between $2 billion and $3 billion in an initial public offering of its Erdenes Tavan Tolgoi mining company next year, and may simultaneously list the shares in London, Hong Kong and Ulaanbaatar, three people with knowledge of the matter said.

Kentaro Harada, the head of Junior Chamber International (JCI), visited Mongolia on August 27 and 28. JCI is a non-political and non-sectarian youth service organization.

A joint Mongolia-China conference on intellectual property is taking place in the Government building in Ulaanbaatar.

The 12th Northeast Asia Gas and Pipeline Forum got underway at Khaan Palace in Ulaanbaatar on Sunday.

Unlicensed gold miners – known as “ninjas” – have formed an organization to protect their rights. They hope the group will improve their working conditions, as well as their relations with government officials.

Ulaanbaatar, Mongolia /MONTSAME/ The ninth international working meeting of the “North-central-eastern Asian solid geology structure or metallogenic” project will be organized by Mineral Resources Authority.

In the scope of the project, new railways from Tavantolgoi to Sainshand (468 km), Sainshand-Khuut (450 km), Khuut-Choibalsan (155 km), Khuut-Numrug (380 km), Tavantolgoi-Gashuunsukhait (267 km), Nariinsukhait- Shiveekhuren (46 km) will be established.

A cut in production by steel producers and higher purchases of coking coal by large countries, from Mongolia, has led to a softening of benchmark coal prices from the traditional coal producing country, Australia.

AFP reported that US Vice President Mr Joe Biden has hailed the United States’ growing ties with Mongolia on a rare visit by an American leader to the Asian nation, which is opening up its vast coal reserves to foreign investors.

Shares in Ivanhoe mines closed up just over 5% in Toronto on Monday outperforming the broader market and bringing the counter’s gains to 23.2% over the last week.

The failure of an unmanned Russian Soyuz booster during launch last week has thrown a wrench into International Space Station operations, with upcoming fights to and from the lab complex facing delays that likely will result in extended operations with a reduced crew of three, a senior NASA manager said today.

Moscow - Leaders of an indigenous Siberian ethnic group on Tuesday announced plans to sue over a recent failed Russian space shot that, they claim, scattered toxic rocket debris over their tribal homeland.

Mongolia, the little-known land sandwiched between China to the south and Siberia to the North is what one expert calls, "a laboratory for climate change".

August 29, 2011, Ulaanbaatar – Timely action on the UCG Investment Agreement (fiscal stabilization agreement) between Envidity and the Mongolian government would bring our USD 1 billion Shivee Ovoo Coal Gasification and Gas to Liquids (“UGC/GTL”) project closer to realization.

China National Petroleum Corporation, or CNPC, and Mongolia's Deputy Minister for Mineral Resources and Energy Ariunsan have signed a memo for expanding petroleum co-operation in Ulan Bator.

KUWAIT, Aug 30 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah departed Tuesday to Mongolia on a private visit.

President Tarja Halonen begins an official visit to Mongolia on Tuesday, the first-ever visit by a high-level Finnish official to the country.

Voyager Resources' (ASX: VOR) drilling program in Mongolia just took on new dimensions - intersections of 84 metres at 3.2% copper and 9.7 g/t silver are just the start.

LONDON (SHARECAST) - Shares in oil explorer Petro Matad took a sharp dive after it reported disappointing testing results from its operations in eastern Mongolia.

Prophecy Coal Corp ( CVE:PCY ) announced Monday it signed several coal sales agreements with both Russian and Mongolian buyers, totaling 92,000 tonnes.

President Elbegdorj has walked in the steps of his country's history.

Mongolia's vast, sparsely populated, landlocked country offers a bonanza to miners that is fuelling double-digit economic growth, but is also exposing it to internal and external dangers.

The Japanese Hayashibara Biochemical Laboratories, Inc. has announced that the dinosaur remains discovered in the territory of Umnugovi aimag in 2002 that were unknown up to date were belonged to the family of Pachycephalosaurus on August 25, 2011.

BAYAN SOUM, MONGOLIA // On the road south to the Gobi desert, Gankhuyag Purev-Ochir cuts a left on to a spider web of dirt roads.

Finance Minister S. Bayartsogt says the Government will revise its current budget.

Japanese rare-earth buyers are switching to quarterly sales contracts and looking for alternative sources after China curbed shipments, increasing prices for the materials used in hybrid cars and missiles.

(CNN) -- On Oyu Tolgoi -- "Turquoise Hill" -- the biggest business venture in Mongolia is taking shape.

ULAANBAATAR, MONGOLIA, Aug 28, 2011 (MARKETWIRE via COMTEX) -- The Honourable Beverley J. Oda, Minister of International Cooperation has completed a fact-finding trip to Mongolia today, aimed at building greater cooperation between Canada and Mongolia.

ULAN BATOR, Aug. 26 (Xinhua) -- As a common wish of the Mongolian government and its people, deepening the friendly cooperation with China is in the best interests of Mongolia, President Tsakhia Elbegdorj says.

The British government has announced that B. Khurts, Chief of Administration at the National Security Council, was extradited to German last Friday.

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, August 24, the Prime Minister S.Batbold received Zhou Yongkang, a member of the Politburo Standing Committee of the Communist Party of China (CPC) and the Secretary of CPC Central Political and Legislative Committee.

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet meeting held on Wednesday, August 24 discussed a draft project on new railway, and backed a technical and economic justification for the first and second phases of the railway construction which was reflected in the state policy on railways.

ULAANBATAR, Mongolia - This scene was experienced by Korean special operations service members with the Republic of Korea’s 21st Battalion, International Peacekeeping Force, during the the combat lifesaver course, the first of seven training phases they participated in during the field-training exercise portion of Exercise Khaan Quest 2011, at Five Hills Training Area near Ulaanbatar, Mongolia, Aug. 3.

HONG KONG, CHINA, Aug 25, 2011 (MARKETWIRE via COMTEX) -- SouthGobi Resources Ltd. CA:SGQ +0.22% (sehk:1878) announced today that Mongolia has awarded Curt Church, COO, the award of Altan Gadas (Order of the Polar Star) "in recognition of his contribution to developing the mining sector in Mongolia and bilateral cooperation between Mongolia and Canada in the field of mining."

The Mongolian Parliament remains divided on a controversial law that prohibits mining operations in certain areas to protect the environment.

The Government approved a new roads plan at yesterday’s meeting of the Cabinet. Under the plan, more than 6,000 km of roads would be improved or built new.

Ulaanbaatar, Mongolia /MONTSAME/ A cooperation contract called "Needs, training and job place" has been established in frames of the Year of Supporting Employment with aims to increase job places, to prepare specialists and to form a stability of cooperation.

Ulaanbaatar, Mongolia /MONTSAME/ The 13th consultative meeting of the Consuls at the Ministries of Foreign Affairs of Mongolia and China will take place on August 29-31 in Ulaanbaatar.

Ulaanbaatar, Mongolia /MONTSAME/ According to a note delivered by the Republic of Czech, official passport owners will travel to Czech with visa from September 1.

Ulaanbaatar, Mongolia /MONTSAME/ An official visit of Zhou Yongkang, a member of the Politburo Standing Committee of the Communist Party of China (CPC) and the Secretary of CPC Central Political and Legislative Committee began on Wednesday, August 24 to Mongolia.

Ulaanbaatar, Mongolia /MONTSAME/ The Mongolian economy is experiencing rapid growth in 2011: the second quarter saw the economy growing at a whopping 17.3 percent year on year, compared to 9.9 percent in the first quarter.

Ulaanbaatar, Mongolia /MONTSAME/ D.Odbayar, the head of the Parliamentary standing committee on justice has held a meeting with Canadian lawyers and specialists led by Mrs. Maria Barrados, the President of Public Service Commission of Canada to talk about the development of cooperation between public service institutes of the two countries.

The British government has announced that B. Khurts, Chief of Administration at the National Security Council, was extradited to German last Friday.

Over hundred workers of Tavantolgoi said they will announce strike in Umnugobi province. They called the daily press “Daily News” yesterday about their plan to strike.

SYDNEY -(Dow Jones)- Australian construction group MacMahon Holdings Ltd. ( MAH .AU) has been awarded a preferred contractor status for part of Mongolia's massive Tavan Tolgoi mining project, in a joint venture with Germany'sBBM Operta Group, the company said Thursday.

Beijing - China has executed a coal-truck driver for causing the death of an ethnic Mongolian herdsman, sparking protests across the Inner Mongolia region, according to a report seen on Thursday.

TWO Mongolian yurts are going up in Bedgebury Pinetum for four weeks from next Friday, thanks to a unique partnership between the Forestry Commission and Green Circle Hideaways.

ENGINEERING contractor Macmahon Holdings today confirmed it has won a major contract in Mongolia.

A rare opportunity for investors to invest in Mongolia outside its big natural resources companies comes with a foreign-run conglomerate involved in everything from real estate and cement to financial services and transport.

BEIJING - Chinese steelmakers are scrambling to buy coking coal mines in Mongolia, China's largest supplier of the fuel.

ULAN BATOR, Aug. 25 (Xinhua) -- Mongolian Prime Minister Sukhbaatar Batbold has said bilateral ties between Mongolia and China are entering a "golden era".

MOSCOW (AP) — North Korea is ready to impose a moratorium on nuclear missile tests if international talks on its nuclear program resume, a spokesman for Russia ’s president said Wednesday after talks between the two countries’ leaders at a Siberian military base.

The upper stage of a Soyuz-U booster carrying an unmanned Russian Progress supply ship malfunctioned and shut down just over five minutes after launch today in Kazakhstan, sending 2.9 tons of space station supplies and equipment crashing back to Earth, NASA officials said.

Experts warned that Chinese energy companies must conduct better risk assessments and strengthen communication with local governments when they explore overseas markets, after Mongolian President Tsakhia Elbegdorj said the country was rethinking development plans for the Tavan Tolgoi coal mine.

LONDON, ENGLAND — Ivanhoe Mines' (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) Chief Executive Officer Robert Friedland confirmed today that Rio Tinto has exercised its subscription right to acquire an additional 27,896,570 common shares of Ivanhoe Mines.

TORONTO (miningweekly.com) – Rio Tinto said on Wednesday it had paid C$529.5-million to lift its stake in Ivanhoe Mines by 2% to 48.5%.

The pastors, members of unofficial churches, had gathered in Wuhai to decide on the summer activities. After the arrest, 6 were released for health reasons.

It is hard to recall a White House trip that has afforded more access to local color than Vice-President Biden’s Asia tour, which concludes today in Japan.

The Mongolian Tax Administration has introduced a new online system for delivering tax bills and providing other services.

A center to fight desertification in Mongolia has opened in Rashaant soum in Bulgan aimag. Mongolia developed its first anti-desertification program in 1996, and updated it in 2003.

Massive mineral wealth is transforming the Mongolian economy as a whole, with mining-related foreign direct investment (FDI) driving strong growth and rapid modernisation.

The Taiwan Fund will award 164 Mongolian students scholarships of MNT 400,000 each for the 2011-12 academic year at a ceremony at Jing Di restaurant in Ulaanbaatar today.

A working group that includes senior officials from the International Monetary Fund and the United States government met with officials from the General Taxation Office today.

Over the past week, as I’ve traveled across Asia, I’ve discovered an unlikely partner in my continental peregrinations: China’s security chief Zhou Yongkang.

Ulaanbaatar, Mongolia /MONTSAME/ The President of the International Olympic Committee (IOC) Mr. Jacques Rogge is paying a visit to Mongolia.

German prosecutors have charged a Mongolian spy over the kidnapping of a countryman in France who was then transported across Europe and sent back to his homeland.

Ulaanbaatar, Mongolia /MONTSAME/ The “MPAT-TE-20” international command-staff exercise is being co-organized by the General Headquarters of the Armed Forces of Mongolia and the U.S. Pacific Command on August 18-26 in Mongolia.

Ulaanbaatar, Mongolia /MONTSAME/ In the frames of “Grassroot” grant program of Japan, financial assistance amounting USD 519,462 or MNT 640 million will be provided to Mongolia.

Ulaan Bator’s situation is akin to interwar Poland, dexterously attempting to reconcile its foreign policy between the USSR’s hammer and Nazi Germany’s hard place.

Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that cores drilling and sample collection have been completed by an independent geologist on the 17,000 acres GTSO is seeking to help develop in Mongolia.

Arriving in Mongolia on Monday for the first visit by a U.S. vice president since 1944, Joe Biden stoked already intense speculations about the U.S. government’s plans to deal with the nation’s massive nuclear waste problem.

'Rethink' in Mongolia provides an example of potential pitfalls

TVN Corporation (ASX:TVN) has reported a 97.5 metre thick coal sequence from latest drilling at the Nuurst Project in Mongolia.

Department of Energy officials have spent weeks trying to knock down reports that they have been interested in building a nuclear waste repository in Mongolia.

“With increasing number of investors interested in Mongolia, we realized that many of our delegates come to learn about Mongolia, politically as well as familiarizing themselves with exploration or early stage projects that has a potential to grow” said Algaa Namgar, the Executive Director of Mongolian National Mining Association and a member of the Organizing Committee.

ULAN BATOR, Aug. 23 (Yonhap) -- South Korean President Lee Myung-bak left Mongolia for Uzbekistan on Tuesday for summit talks and a series of economic deals, including a US$4 billion contract to develop a gas field and build a related plant.

SAN JOSE, Calif.--( BUSINESS WIRE )--Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that cores drilling and sample collection have been completed by an independent geologist on the 17,000 acres GTSO is seeking to help develop in Mongolia.

Shares of Ivanhoe Mines Ltd. soared 20 per cent Tuesday, far past its base metal peers, a day after the Vancouver-based company said gold and silver would account for about half of revenues at its Oyu Tolgoi project, which is set to begin production at the end of next year.

U.S. Vice President Joe Biden arrived in Ulaanbaatar Mongolia on Monday to a lavish celebration including performances of traditional music and dance and a Mongol-style wrestling competition.

SYDNEY -( Dow Jones )- Guildford Coal Ltd. (GUF.AU) said Wednesday it is looking at listing its Mongolian coal assets separately on the Australian Securities Exchange , the latest in a string of miners vying to take advantage of rising investor interest in the landlocked North Asian country's resources.

Ulaanbaatar, Mongolia /MONTSAME/ The President of the International Olympic Committee (IOC) Mr. Jacques Rogge will pay a visit to Mongolia on August 23-24, at an invitation of D.Zagdsuren, the President of the Mongolian National Olympic Committee (MNOC).

Ulaanbaatar, Mongolia /MONTSAME/ The President of the Republic of Korea Lee Myung-bak's spouse Mrs. Kim Yoon-ok has got au fait with the Maternity and children's national health center to donate some 200 syringe pumps.

Military doctors, nurses and medics from five countries came together to deliver general healthcare, optometry and dental services to a small suburb of Ulaabaatar, Mongolia from Aug 6-9, while participating in Khaan Quest 2011.

Ivanhoe Mines CEO Robert Friedland announced Monday that the massive Oyu Tolgoi copper-gold project would have negative total cash costs of 7-cents per pound of payable copper in the first five years of mining under a scenario of current gold and silver prices.

TSX- and NYSE-listed Ivanhoe Mines’ giant Oyu Tolgoi mine in Mongolia will produce copper at negative cash costs at current gold and silver prices, the company said on Monday.

MELBOURNE -( Dow Jones )- Mining giant Rio Tinto PLC (RIO), which is supplying all the metal that will be used to produce medals for the 2012 Olympics, said Tuesday it has signed a deal to sponsor the Mongolian national team at the London games.