Emergency Commission discusses power outages, harvest
The State Emergency Commission held a meeting on Friday to discuss the continuing power problems in the northern part of the country and the harvest.
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Government to deliver 2012 budget proposal to MPs
The Government will deliver the proposed 2012 budget to MPs after an unofficial meeting on Friday. By law, a budget must be delivered annually to MPs before October 1.
Officials convicted of corruption, sentenced to four years
A Khan-Uul district court convicted two former state officials of corruption on September 29, and sentenced each to four years in prison.
S.BAYAR MP VISITS CHINA
Ulaanbaatar, Mongolia /MONTSAME/ A delegation led by S.Bayar MP, a former Prime Minister has participated in a forum of the International Day of Peace annually organized by the United Nations (UN), in Shenyang and Dalian cities.
Resources Available to Mongolian MPs
Parliaments around the world differ significantly as to the resources that they make available to individual MPs to support their parliamentary work, but also to serve their constituencies.
MPs Petition to Renegotiate OT Agreement
Over the last several days (late Sept. 2011) there have been quite a number of articles in the press outside of Mongolia about a petition that was submitted to the Prime Minister of Mongolia by 20 MPs demanding a renegotiation of the Oyu Tolgoi investment agreement and more specifically demanding that the government pursue a 50% ownership stake.
OT: In Danger of Becoming A Hostage in Domestic Politics, Again
In 2005, Ivanhoe’s Robert Friedland’s infamous statement about the huge profits to be made in Mongolia at an investor conference in Florida delayed his deal with the Government of Mongolia over one of the biggest copper deposits in the world, Oyu Tolgoi (OT).
Resource Nationalism on the Rise
When it comes to commodities, diamonds may be a girl’s best friend, but governments aren’t as picky. With the recent posturing of the Mongolian government to rewrite the investment agreement with Vancouver-based copper and gold miner Ivanhoe Mines Ltd. (TSE:IVN), investors are fearful that “resource nationalism” will make mining companies a losing bet.
Mongolia puts politics ahead of business on giant copper deal
Mongolia’s quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.
How High Rare-Earth Prices Can Be Magnetic
China is trying to make itself magnetic to industrial consumers of rare-earth elements, and it may attract a key customer.
Petro Matad set to reassess data after completing latest well in Mongolia
AIM quoted Mongolian oil explorer Petro Matad (LON:MATD) has wrapped up the 2011 drilling campaign on its Davsan Tolgoi prospect on Block XX by completing well DT-11.
Mongolian Stock Exchange: getting there slowly
Mongolia may be one of the most popular investment destinations for resources funds and miners today. But this year the Mongolian Stock Exchange index has tanked – plummeting 40 per cent from a high in February – even as investors continue to bet on the growth of this largely nomadic, resource-rich country.
Mongolia hands it to a cast of neighbors
ULAN BATOR - Before embarking for the United States, Mongolia's President Tsakhiagiin Elbegdorj sat down with the Washington Post for a charm offensive, at least in terms that Mongolians understand: dispensing comparisons to Genghis Khan that they, at least deem flattering.
CW-GP to send 200,000 letters to citizens
The Civil Will and Green Party announced on Thursday that it intends to send letters to 200,000 citizens to present the party’s platform and to solicit opinions.
MP questions PM about Development Bank
On Thursday, MP R.Amarjargal sent an official note to Prime Minister S.Batbold about plans by the Development Bank (DB) to issue bonds.
VICE SPEAKER MEETS GERMAN AMBASSADOR
Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, a Vice Speaker N.Enkhbold received Mr. Peter Scheller, the Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany to Mongolia.
MONGOLIANS IN EUROPE TO DISCUSS DEVELOPMENT OF MONGOLIA
Ulaanbaatar, Mongolia /MONTSAME/ A forum of Mongolians themed "Our participation in development of motherland" will take place from September 29 through October 2 in Berlin, Germany.
"INFORMATION SILK ROAD" LINE OPENS
Ulaanbaatar, Mongolia /MONTSAME/ An opening ceremony of the line “Internet flow connected through Asia and Europe” has been attended by S.Batbold, the Prime Minister on September 28.
ABOUT IMPLEMENTATION COURSE OF "NEW GREAT CONSTRUCTION" PROGRAM
Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, head of the Cabinet Secretariat of Government Ch.Khurelbaatar gave a report to cabinet members an implementation course of the “New Great Construction” middle-term program.
MEETING RUNS WITH BUSINESS DELEGATES OF GERMANY
Ulaanbaatar, Mongolia /MONTSAME/ A meeting has been organized in the Ministry of Foreign Affairs with business representatives of some 20 German companies engage in business and legal advice, IT, financial service, urban planning, mining, metallurgical industry.
Mongolia's Mining Contract "Redo" Has Risks & Rewards - Analysts
Mongolia's quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.
Korea Courts Central Asia
Times are changing in Seoul. Over the past decade, South Korea’s diplomatic and business clout has surged and presented a formidable challenge to the pre-eminence of global powers in Asia, Europe and the Americas.
China Pursues Aggressive Expansion of Coal Products
With world oil prices on a rollercoaster ride lately, the Chinese are more determined than ever to lessen their dependence on the precious commodity and exploit their abundant coal reserves.
Toshiba goes to Kazakhstan for rare metals
Following its agreement last year with the President of Mongolia to secure a supply of rare metals, Toshiba has set up a rare metal jv with Kazatomprom, the Kazakhstan state company which oversees its nuclear industry.
Copper Rout Outpaces Analysts Focused on Production Shortages: Commodities
The biggest rout in copper since the global recession drove analysts to cut their price forecasts by 16 percent in a week as mounting concern about growth eroded expectations for supply shortages.
Ivanhoe shares bounce back
Ivanhoe Mines Ltd. rose 16 percent on Tuesday, after Rio Tinto Group, its partner in the Oyutolgoi project, increased its stake in Ivanhoe to 49 percent. That’s Ivanhoe’s biggest rise in more than two years.
One Democracy, DP hosting forum on draft election law
The One Democracy association and members and supporters of the DP will hold an open forum on the draft election law that Parliament will debate in the upcoming session.
B.Munguntuul competes in European Club Cup
Grandmaster B.Munguntuul is taking part in the European Club Cup, which is being held in Rogaska Slatina, Slovenia, from September 25 to October 1, 2011.
Latest harvest numbers announced
According to Ministry of Food, Agriculture and Light Industry spokesperson G.Odonkhuu, farmers in Mongolia have harvested 342,000 tons of wheat, 174,300 tons of potatoes, and 88,500 tons of vegetables.
Mongolian Red Cross to discuss goals, strategies
The Red Cross Society of Mongolia is holding a meeting of its partner organizations and international donors in the Government House on September 29.
Finance Minister proposes revised 2011 budget
On Wednesday, Finance Minister S.Bayartsogt submitted to Speaker D.Demberel proposals to revise the 2011 budget, the social insurance budget, and the Human Development Fund budget.
Road from Ukhaa-khudag to Gashuunsukhait opens
Energy Resource LLC recently completed 245 km of new road between Ukhaa-Khudag and Gashuunsukhait, and the state commission has officially opened the road.
"AUTUMN GREEN DAYS" MEASURE OPENS
Ulaanbaatar, Mongolia /MONTSAME/ Opening ceremony of the "Autumn Green Days 2011" annual measure ran Monday on the Central Stadium of Ulaanbaatar.
A Mongolian Cautionary Tale
Challenges and opportunities faced by Mongolia in dealing with the influx of foreign entities. Mongolia is quickly becoming an “Eldorado” destination for many foreign investors.
Copper plunges to 14-month low
Copper collapsed to its lowest close in 14 months on Wednesday as trepidation ahead of a German vote to beef up the euro zone’s rescue fund ignited another severe sell-off in commodities.
Mongolia puts politics ahead of business on giant copper deal
ULAN BATOR, Sept 29 (Reuters) - Mongolia's quest to renegotiate a 2009 deal to develop the giant Oyu Tolgoi copper-gold deposit might create a crisis of trust for foreign investors, but analysts said the decision could help it through a difficult legislative session starting next week.
Rare Earths Fall as Toyota Develops Alternatives
Rare-earth prices are set to extend their decline from records this year as buyers including Toyota Motor Corp. (7203) and General Electric Co. (GE) scale back using the materials in their cars and windmills.
Allmine Group scores $4.6m engineering contract for gold project in Mongolia
Allmine Group (ASX: AZG) subsidiary Arccon has entered into a contract valued at $A4.6 million with QGX Golden Hills to provide engineering, design and procurement services for the Golden Hills gold heap leach project in northwestern Mongolia.
U.S. Ambassador discusses Peace Corps in Mongolia
The following statement was issued by United States Ambassador to Mongolia Jonathan Addleton on the occasion of the 20th anniversary of the arrival of the Peace Corps in Mongolia.
Mongolian boxers off to good start
Mongolian boxers are off to a good start at the AIBA World Boxing Championships in Baku, Azerbaijan.
Heavy snow cuts power in some areas
Heavy snow Tuesday night and Wednesday morning knocked out power in parts of Darkhan-Uul aimag.
CABINET SUBMITS DRAFT BUDGET CLARIFICATION TO PARLIAMENT
Ulaanbaatar, Mongolia /MONTSAME/ The Minister of Finance S.Bayartsogt submitted Wednesday to the Speaker draft amendment to the law on state budget for 2011, draft amendment to the law on budget of social insurance fund for 2011, and draft amendment to the law on budget of Human Development Fund (HDF) for 2011.
SPEAKER RECEIVES JAPAN'S AMBASSADOR
Ulaanbaatar, Mongolia /MONTSAME/ The Parliament Speaker received Wednesday Mr. Kidokoro Takuo, the Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia, in conjunction with completion of his diplomatic mission.
JAPAN HELPS MONGOLIA IMPROVE EDUCATION FOR CHILDREN
Ulaanbaatar, Mongolia /MONTSAME/ The Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia Mr. Kidokoro Takuo signed Wednesday a contract on implementing a project to improve training quality of secondary school lessons on natural sciences.
Copper’s sustainable price between $8,00 and $8,500 – Standard Bank
A strong sell off across the commodities complex has pushed copper prices down significantly but, Standard Bank’s Walter de Wet says, fundamentals remain positive for the metal.
Ivanhoe Soars After Rio Tinto Raises Stake to 49 Percent
Ivanhoe Mines Ltd. rose the most in more than two years after Rio Tinto Group, its partner in a gold and copper mine in Mongolia, increased its stake in the Canadian company to 49 percent.
Rio Tinto pays Can$73 million for 49% of Ivanhoe Mines
Rio Tinto (NYSE:RIO) announced today that it paid Can$73 million for 49% of Ivanhoe Mines.
Ivanhoe Mines Stock Soars (IVN)
NEW YORK ( TheStreet ) -- Shares of Ivanhoe Mines (NYSE: IVN ) have taken a tremendous swing upward. The stock is trading at $17.75 as of 3:05 p.m. ET, 22% above Monday's closing price of $14.55.
Kuwait, Mongolia agree on media expertise exchange
KUWAIT: Senior Kuwaiti and Mongolian officials yesterday agreed on an exchange program of media and information expertise, to be undertaken as a further expression of the two nations' wish to strengthen the friendly relationship that binds the peoples of both countries.
Mongolia's high plains herders warily eye coal truck road
(Corrects to U.S. Academy of Natural Sciences in penultimate paragraph) * Road to open next month, cut delivery time for coal shipments * Herders face rapid change to pasture land, way of life
Mongolian tourist camps unveil unified website
Solid Ways Travel Agency on Tuesday unveiled a new website that brings together more than 50 tourist ger camps.
Parliament might be getting bigger
A group of MPs says it will submit a draft law to Speaker D.Demberel that would increase the number of MPs from 76 to 99.
U.S. Ambassador discusses Peace Corps in Mongolia
The following statement was issued by United States Ambassador to Mongolia Jonathan Addleton on the occasion of the 20th anniversary of the arrival of the Peace Corps in Mongolia.
PRESIDENT MEETS TUNISIA'S PM AND SWEDISH POLITICIAN
Ulaanbaatar, Mongolia, /MONTSAME/ At the Community of Democracies (CD) Council meeting, the President of Mongolia, Ts.Elbegdorj met the Prime Minister of Tunisia, Mohamed Ghannouchi.
G.ZANDANSHATAR ATTENDS HIGH-LEVEL MEETING ON NUCLEAR SAFETY
Ulaanbaatar, Mongolia /MONTSAME/ A delegation led by G.Zandanshatar, the Minister of Foreign Affairs took part in a high-level meeting on strengthening nuclear safety organized September 22 at an initiative of the UN Secretary-General.
FOREIGN MINISTER GIVES SPEECH AT NTBT MEETING
Ulaanbaatar, Mongolia /MONTSAME/ The Mongolia's Minister of Foreign Affairs G.Zandanshatar delivered a speech on Mongolian position on the test of nuclear tests, at the 7th meeting on validating the Nuclear Test-Ban Treaty (NTBT) held September 23 in New York.
MONGOL BANK PRESIDENT ATTENDS ANNUAL MEETINGS OF IMF AND WB
Ulaanbaatar, Mongolia /MONTSAME/ The president of the Bank of Mongolia (BM) L.Purevdorj; and director of the Currency Policy and Research Department of the BM D.Boldbaatar participated in the Annual Meetings of the International Monetary Fund and the World Bank Group ran September 23-25 in Washington D.C, USA.
FIRST LADY KH.BOLORMAA PARTAKES IN HIGH-LEVEL MEETING
Ulaanbaatar, Mongolia /MONTSAME/ First Lady of Mongolia Mrs. Kh.Bolormaa has attended a high-level meeting entitled “Prevention and control of non-communicable diseases” held in the UN Headquarters, New York City.
Mongolian delegates visit ACEPT
Challenger Institute of Technology Executives met with Mongolian vocational education representatives and a national member of TAFE Directors Australia last week to discuss future partnerships.
General Mining Corporation clinches coal exploration license in Mongolia
General Mining Corporation (ASX: GMM) has clinched a deal to acquire a 100% interest in 19.6 km2 exploration licence in Mongolia for the purpose of coal exploration.
Mott MacDonald to advise on Mongolian Clean Air Fund
Mott MacDonald has been appointed by the Ministry of Nature, Environment and Tourism in Mongolia to advise on the Ulaanbaatar Clean Air Fund.
Mongolia: Reindeer (Food) Culture
Eurasianet contributor Pearly Jacob recently filed a fantastic piece about the Tasaatan people, traditional reindeer herders who live in Mongolia and who are struggling to maintain their ancient way of life.
Petro Matad receives valuable data from tests of its DT-4 well in Mongolia
Mongolia-focused oil explorer Petro Matad ( LON:MATD ) said this afternoon that it has received "valuable information" from the DT-4 well at its Davsan Tolgoi project.
Cray ships Mongolian cluster...
Yak yak yak. Supercomputer maker Cray has landed an XE6m minicluster deal in Mongolia.
Top Mongolian Security Official Released by Germany
Bat Khurts, head of the executive office of Mongolia's National Security Council who was extradited to Germany from Britain, has been released and arrived back in Mongolia, local media reported Tuesday.
MPP supporters say the party must fulfill its promises
The MPP held a “Hear the People” forum in Ulaanbaatar on September 24, and party leaders got an earful.
Officials give update on anti-pollution efforts
A group that is working to reduce air pollution in Ulaanbaatar delivered a report on their efforts to D.Battulga of the President’s Office on Monday.
New trade center opens in Yarmag
A new trade center is expected to lower food prices for remote khoroos in the Khan-Uul district. Without a local trade center, Khan-Uul Governor J.Gankhuyag said food prices in the khroos were 30 to 40 percent higher than in the city center, due to transportation costs.
Working group discusses election issues
A working group of the Standing Committee on State Structure that is preparing a draft law on the 2012 election met on Monday.
Inflation could reach 20 percent
The World Bank says Mongolia’s economy kept growing in 2011, according to a report in the newspaper Uls Turiin Toim.
Rio Tinto official: Renegotiation request is about politics
The controversy over the Mongolian government’s request to renegotiate the Oyutolgoi mining investment agreement continues.
B.Khurts freed from Germany, Arrived in Mongolia
B.Khurts, head of the executive office of National Security Council of Mongolia has just arrived at the Capital city of Mongolia with B.Bolor, Deputy Minister of Foreign Relations and other officials.
Mongolians have harvested largest amount of vegetables this year
One of the main target of the Government is to supply enough agricultural products in the market. This year Mongolians have harvested huge amount of vegetables and wheats.
Mongolia by Horseback: Traveling with Genghis Khan’s Descendants
For much of the year, Mongolia covers up under a thick layer of snow and ice, lacerated by glacial winds that make its frigid expanses as uninviting to potential visitors as they are punishing for the thousands of nomads who call the country’s wilderness their home.
Spooked investors dump Ivanhoe despite reassurances – shares crash 21%
A statement put out by Ivanhoe Mines on Monday telling investors that its Oyu Tolgoi project remains on track and pooh-poohing rumours about the Mongolian government reneging on the deal that Ivanhoe and partner Rio Tinto spent five years negotiating did little to ease the fears of investors.
KGHM says copper price drop no threat to earnings forecast
The chief executive of KGHM, Europe’s No. 2 copper producer, said the recent drop in copper prices was probably temporary and should not threaten the Polish company’s earnings forecasts.
President Elbegdorj Vague on the Question of Mongolia’s Policy Towards Southern Mongolian Asylum Seekers
In honor of Tsakhia Elbegdorj, President of Mongolia, and Roza Otunbayeva, President of Kyrgyztan, the Foreign Policy Association (APF) and the National Endowment for Democracy (NED) jointly hosted a dinner in New York as part of the 2011 World Leadership Forum on September 22, 2011.
Rio Tinto: out of steppe in Mongolia
Rio Tinto thought Ivanhoe was trouble enough. The Canadian miner, in which Rio has patiently built a dominant stake, accused it last week of saying more than it should about a Rio-run copper and gold complex in the South Gobi desert.
Ivanhoe stands firm on Oyu Tolgoi project agreement ownership split
Ivanhoe Mines Monday refused to give in to the Mongolian government’s demand’s that the country’s interest in the massive Oyu Tolgoi copper-gold project rise from its current 34% to 50%.
General Mining Corporation (ASX:GMM) to Acquire a New Mongolian Project for Coal Exploration
General Mining Corporation Limited (ASX:GMM) has signed an agreement to acquire a 100% interest in a 19.6 km2 exploration licence predominantly for the purpose of coal exploration in the Uvs Basin in Mongolia.
Mongolia Mining Report Q4 2011
Business Monitor International's Mongolia Mining Report provides industry professionals and strategists, corporate analysts, mining associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Mongolia's mining industry.
Mongolia denies reports of security official's release
ULAN BATOR, Sept. 26 (Xinhua) -- Mongolia on Monday denied a German newspaper report that a top official of the National Security Council has been freed from German prison.
China orders tighter controls on rare earths
SHANGHAI—China's Ministry of Land and Resources has ordered a further tightening of controls on strategically vital rare earths used in advanced manufacturing, for the sake of what it says is "sustainable and healthy development."
Pollution: Iran cities worst, Canada and U.S. best
Cities in Iran, India, Pakistan and the capital of Mongolia rank among the worst on the planet for air pollution, while those in the United States and Canada are among the best, according to the first global survey released Monday by the World Health Organization.
Mongolia Reported to Seek Mining Changes
The Canadian owner of the massive Oyu Tolgoi mining project in Mongolia said an existing investment agreement "remains a fair and legally binding contract that deserves and requires the unqualified support of all parties" amid reports the Mongolian government is seeking changes.
Rio Tinto embroiled in Mongolia feud
THERE was a nod to Mongolia's nomadic heritage when Rio Tinto opted to use traditional ger tents for workers' accommodation at the massive Oyu Tolgoi mine.
Ivanhoe says Mongolia mine pact ‘binding’
Ivanhoe Mines Ltd. is lashing out at the Mongolian government after a senior minister said the government wants to increase its stake in the massive Oyu Tolgoi copper-gold project.
Garrison International Fight With Director Continues with Hearing Last Week in Mongolia
Legal skirmishing continues to heat up between Garrison International Ltd (GAU.V) and a director on the board of the junior mining company's directors, with Garrison this weekend saying the two sides participated in Sept. 21 court hearing seeking to determine ownership of the company's gold exploration properties in Mongolia.
Iran, India, Pakistan and Mongolia have most polluted cities in the world
World Health Organisation's first global survey of fine particle pollutants says US and Canadian towns are among cleanest.
Ivanhoe Mines Expects the Mongolian Government to Support the Oyu Tolgoi Investment Agreement
Schedule for supply of interim electric power remains on track.
Ivanhoe shares fall as Mongolia rethinks mine pact
* Minister says Mongolia wants to renegotiate agreement * Ivanhoe says expects government to honor existing deal * Ivanhoe shares down more than 12 pct on NYSE, TSX (Adds details on power supply; updates share price move)
Manas Announces Results of Annual and Special Meeting of Stockholders
BAAR, Switzerland, Sept. 26, 2011 /PRNewswire/ -- Manas Petroleum Corp. ("Manas") (TSX-V: MNP; OTCBB: MNAP) is pleased to announce that it has issued to Dr. Werner Ladwein, a member of its Board of Directors, 2,000,000 shares of its common stock.
Culture Shock Mongolia
Mongolia is an amazing place to visit, and one of the best places in the world to ride. The Northern route takes you through some of the best Mongolia has to offer, and although you miss the Gobi desert by taking it, you still get to see herds of camels, vast open steppes, mountains and even a couple of sand dunes.
Ivanhoe Mines Stock Falls On Unusually High Volume (IVN)
NEW YORK ( TheStreet ) -- Ivanhoe Mines (NYSE: IVN ) is trading at unusually high volume Monday with 8.1 million shares changing hands. It is currently at four times its average daily volume and trading down $3.27 (-20.4%) at $12.74 as of 2:30 p.m. ET.
Ivanhoe Mines pushes back at Mongolia over copper mine
Canada’s Ivanhoe Mines Ltd. ( IVN-T 15.00-1.51-9.15%) is battling back against moves by the Mongolian government to secure a larger chunk of the promising Oyu Tolgoi copper-gold project, but investors are bailing out.
Ivanhoe Falls After Mongolia Seeks Bigger Stake in Copper Mine
Sept. 27 (Bloomberg) -- Ivanhoe Mines Ltd. fell in Toronto trading after Mongolia said it wanted to boost its stake in one of the world’s largest undeveloped copper-gold mines two years after agreeing to cap its stake until 2039.
Putin receives MPP delegates
An assembly of the United Russia Party was held on September 23 and 24 in Moscow. An MPP delegation headed by deputy speaker and head of the Mongolian-Russian parliamentary group N.Enkhbold took part in the assembly at the invitation of the party.
Wrestling tournament sets Guinness record
A wrestling tournament in Ulaanbaatar that ended on Sunday set a Guinness world record for the most participants in a single wrestling tournament.
Mongolian delegation attends meeting on international security
An international meeting of high-ranking security officials from 51 nations took place in Yekaterinburg, Russia on September 21 and 22.
Council considering tariff increases
The Customs Tariff Council is considering raising the tariffs on imported building materials and imported wheat.
AGENDA OF PARLIAMENTARY AUTUMN SESSION
Ulaanbaatar, Mongolia, /MONTSAME/ These matters will be high on the agenda for the regular autumn session of parliament.
Source of rumor that reincarnation of His Holiness Dalai Lama is born in Mongolia
Recently, Mongolian newspapers published stories which said next reincarnation of His Holiness Dalai Lama is born in one of the Gobi provinces of Mongolia and this news is kept secret.
Mongolia security chief freed in Germany: report
A top Mongolian security official extradited from Britain to Germany on suspicion of kidnapping a crime suspect has been freed from custody and may already have left the country, a German daily said Saturday.
Gold to rise beyond $2,000/oz in 2012 – LBMA poll
Gold’s rally will extend beyond $2,000 an ounce in the next year, but won’t match the record-breaking 50 percent surge of the last 12 months, according to an annual survey of gold investors and analysts at the world’s biggest bullion traders event.
What another banking crisis will mean for gold
In the first part of this series of articles we pointed out the developing banking crisis and why we felt that was happening.
Ivanhoe Mines to Issue Statement on Monday, September 26, on Challenge to Unauthorized Remarks About Oyu Tolgoi Project
Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) founder and Chief Executive Officer Robert Friedland said today that the company will issue a statement on Monday, September 26, in response to what it considers to be unauthorized and incomplete information concerning the Oyu Tolgoi Project by members of Rio Tinto’s senior management this week.About Ivanhoe Mines
Rio Says Accord Changes May Alarm Mongolia Investors
Rio Tinto Group said that potential changes by Mongolia to an investment accord that at present gives partner Ivanhoe Mines Ltd. control of one of the world’s largest copper mines will alarm investors.
Mongolia presses on key mine project
The government of Mongolia is seeking a bigger stake in Oyu Tolgoi, the biggest undeveloped copper mine in the world, in a surprise move that underlines the challenges ahead for Rio Tinto and Ivanhoe Mines as they develop the country’s flagship mining project.
Mongolia Sparks Rio Concern With Push to Raise Stake in Record Copper Mine
Mongolia wants to increase its stake in one of the world’s largest undeveloped copper mines two years after the nation agreed with Rio Tinto Group and Ivanhoe Mines Ltd. to cap government control until 2039.
Rio Tinto says will talk to Mongolia on copper mine deal
OYU TOLGOI, Mongolia, Sept 25 (Reuters) - Global mining giant Rio Tinto will respond to any request from the Mongolian government to discuss its investment in the country's giant Oyu Tolgoi copper-gold deposit, but still expects the original 2009 agreement to be honoured.
Mongolia Wants Stake Increased in Oyu Tolgoi Copper-Gold Mine Project
The Mongolian government wants to enlarge its share in the Oyu Tolgoi copper-gold project to 50% from 34%, even though it is still not within the contract’s allowed provision.
Mongolian Coking Coal Producer SouthGobi Resources is a Prime Taveover Target, Teck Resources Should Acquire it Before a Competitor Does
M&A activity in the coal space has been robust; Rio Tinto acquired Riversdale in Mozambique, Alpha acquired Massey and Arch acquired Intl. Coal.
C @ Limited moves step closer to acquisition of coal licenses in Mongolia
Perth based C @ Limited (ASX: CEO) has moved a step closer to acquiring coal licenses in southern Mongolia.
Mongolia Seeks Bigger Stake in Rio, Ivanhoe Copper Mine
Sept. 26 (Bloomberg) -- Mongolia wants to increase its stake in one of the world’s largest undeveloped copper mines two years after the nation agreed with Rio Tinto Group and Ivanhoe Mines Ltd. to cap government control until 2039.
Mongolia eyes 50% stake in key Oyu Tolgoi project
Mongolia is seeking greater control of one the biggest mining projects in the country, which is being developed by Rio Tinto and Ivanhoe Mines.
Mongolia's National Agency of Meteorology and Environmental Monitoring Orders a Cray XE6m Supercomputer
SEATTLE, WA, Sep 26, 2011 (MARKETWIRE via COMTEX) -- Global supercomputer leader Cray Inc. CRAY +1.79% today announced that the National Agency of Meteorology and Environmental Monitoring (NAMEM) in Ulaanbaatar, Mongolia has ordered a Cray XE6m supercomputer.
Rio and partners fall out over Mongolian riches
THERE was a nod to Mongolia's nomadic heritage when Rio Tinto opted to use traditional ''ger'' tents for workers' accommodation at their massive Oyu Tolgoi mine.
Mongolia wants to speed up raising its stake in copper
(Reuters) - The Mongolian government will seek to accelerate the timetable to increase its stake in the country's giant Oyu Tolgoi copper-gold project to 50 percent, Mining Minister Dashdorj Zorigt said on Sunday.
Mongolia security chief freed in Germany: report
A top Mongolian security official extradited from Britain to Germany on suspicion of kidnapping a crime suspect has been freed from custody and may already have left the country, a German daily said Saturday.
Garrison International Ltd.: Update on Unauthorized Transfer of Company Subsidiary
TORONTO, ONTARIO, Sep 23, 2011 (MARKETWIRE via COMTEX) -- Garrison International Ltd. CA:GAU 0.00% ("Garrison" or "the Company") hereby notifies its shareholders that an Introductory Motion in Damages and Permanent Injunction against Garrison International Ltd., its current and former Directors and its Legal Counsel, has been filed in the Province of Quebec.
Why not outsource the government? Jargal de Facto, Views on Mongolia
Mongolia’s government recognizes its incapacity to accomplish its duties. So they started to hire foreign management in state-owned enterprises already.
Mongolia Wants 50% of Rio’s Oyu Tolgoi Project, Minister Says
Sept. 26 (Bloomberg) -- Mongolia wants to bring forward the raising of its stake in the Oyu Tolgoi copper project that’s being developed by Rio Tinto Group and Ivanhoe Mines Ltd. to 50 percent from 34 percent, according to the minerals minister.
PM inspects public works projects
On Thursday, Prime Minister S.Batbold inspected projects designed to reduce air pollution and improve roads.
MRA: 18.9 million tons of coal extracted
The Mineral Resources Authority (MRA) recently inspected data from coal mining companies. It concluded that mines are operating at between 92.7 and 100 percent of capacity.
Autumn session of Parliament to begin October 3
The head of Parliament’s Office, Ts.Sharavdorj, tells the newspaper Uls Turiin Toim that the Speaker’s Council met on Thursday and decided to open the autumn session at 11 on the morning of Monday, October 3.
Governor of Songinokhairkhan District arrested
Sources say the governor of Songinokhairkhan District, Ts.Bold, was arrested Thursday evening. He is accused of embezzling MNT 300 million from the budget.
MITSUBISHI TAKES CARE OF STUDENTS
Ulaanbaatar, Mongolia, /MONTSAME/ The Mitsubishi corporation has handed scholarships to 15 students of Science technology university of Mongolia.
ENKHSAIKHAN TOUCHES UPON MONGOLIA'S NON-NUCLEAR STATUS
Ulaanbaatar, Mongolia, /MONTSAME/ The Ambassador, special representative of the USA President in charge of nuclear nonproliferation Susan F.Burk met J.Enkhsaikhan, the Ambassador of Mongolia at the International Atomic energy agency /IAEA/ in Vienna, Austria on Thursday.
G.ZANDANSHATAR MEETS WITH FOREIGN MINISTER OF ROMANIA
Ulaanbaatar, Mongolia, /MONTSAME/ Minister of Foreign Affairs G.Zandanshatar met Wednesday with Romania's Minister of foreign affairs Mr Teodor Baconschi in the UN Headquarters September 22.
SPEAKER TO WORK IN KHOVD
Ulaanbaatar, Mongolia, /MONTSAME/ The Parliament Speaker D.Demberel will work September 23-27 in Khovd aimag with aims to get acquainted with a situation and works and to talk about parliamentary activities.
Rio ready to pounce on $10bn acquisitions
RIO Tinto says $US10 billion-plus acquisitions are back on the table — provided its credit rating is not put at risk — as the mining giant hunts for bargains amid turmoil in financial markets.
Mongolia tries to wrestle record back from China
More than 6,000 fighters are engaged in an epic battle in Mongolia as they try to snatch the world record for the largest ever Mongolian wrestling contest from neighbouring China.
Copper, coal: crystal balls for the global economy
Copper, coal and other industrial commodities can be great tools for predicting economic prospects and right now they’re offering a gloomy outlook, but a closer analysis shows a glimmer of hope as the world struggles to avoid recession.
Mongolian Peacekeepers To South Sudan
Mongolia's defense minister has said the country is planning to send 850 peacekeepers to South Sudan, according to Xinhua :
Frontier Securities Mongolia Expert Series: Potential of Nuclear Energy Development in Mongolia
From 1970s to early 1990s, most of the exploration covering up to 40% of the whole Mongolian territory was carried out by Russian geologists.
Mongolia's high plains herders warily eye coal truck road
* Road to open next month, cut delivery time for coal shipments * Herders face rapid change to pasture land, way of life
Wildlife conference opens in Ulaanbaatar
The Mongolian office of the World Wide Fund for Nature (WWF, formerly the World Wildlife Foundation) is holding a conference about the impact that building projects can have on wildlife.
Mongolian Stock Exchange making changes
The Mongolian Stock Exchange (MSE) is getting a facelift. B.Bold, the executive director of Newcom Group and head of the representative managing council of the MSE, told our correspondent about changes planned for the exchange.
DEMOCRATIC PARTY'S REPS TO VISIT RUSSIA
Ulaanbaatar, Mongolia, /MONTSAME/ Secretary-general of Mongolia's Democratic party, D.Erdenebat, and a member of the party's national advisory committee, Da.Ganbold are to pay visit to Russia.
MONGOLIA TO CHAIR MINISTERIAL MEETING OF DEMOCRATIC GROUP
Ulaanbaatar, Mongolia, /MONTSAME/ As a chairman of the Community of Democracies (CD), Mongolia will organize a Ministerial Meeting of the UN Democratic Group and the first meeting of CD Leading Council.
MONGOLIA WANTS TO OPEN ITS EMBASSY IN ITALY
Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet considered Wednesday a draft parliamentary resolution on opening Mongolia's Embassy in Rome, Italy.
MONGOLIA AND "GERMANISCHER LLOYD" MAY COOPERATE
Ulaanbaatar, Mongolia, /MONTSAME/ A Deputy Minister of Mongolia, M.Enkhbold received German representatives, led by Dr.Robert Surma, a department head of “Germanischer Lloyd” organization, September 21.
PRESIDENT HOLDS INDIVIDUAL MEETINGS
Ulaanbaatar, Mongolia, /MONTSAME/ During the 66th session of the UN General Assembly in New York, the President Ts.Elbegdorj met Wednesday Mustafa Abdul Jalil, the chairman of the National Transitional Council of Libya (NTCL).
CABINET BACKS CREDIT AGREEMENTS
Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet meeting on Wednesday discussed and then backed in principle intergovernmental agreement on financial cooperation between Mongolia and Germany and an agreement to be established between Mongolia's government and the Reconstruction and Credit Bank of Germany.
GROUP SET UP ON EDUCATION FOR DEMOCRACY AT INITIATIVE OF ELBEGDORJ
Ulaanbaatar, Mongolia, /MONTSAME/ At the 66th session of the UN General Assembly, the President Ts.Elbegdorj announced Wednesday he launched a group of state leaders' initiative on education for democracy in frames of the Community of Democracies (CD).
Wikileaks:2010 Mongolia Investment Climate Statement
State participation (or share) is determined by an agreement on exploitation of the deposit considering the amount of investment made the state; or, in the case of a privately-explored strategic deposit, by agreement between the state and the firm on the amount invested by the state.
Gold Miners Outshine Copper Miners (RIO, BHP, VALE, FCX, SCCO, NEM, ABX, AUY, SLW, GLD, GDX, SLV, SIL)
At yesterday's meeting for investors, Rio Tinto plc (NYSE: RIO) offered a subdued forecast for the iron ore and copper markets going forward.
Pakistan and Mongolia
John Murphy introduces personal stories, wit and insight from correspondents around the world. In this edition, Aleem Maqbool finds the Pakistani province of Sindh overrun with flood refugees who're receiving very little help; Robin Irvine finds stamina is all in Mongolia - for wrestlers as well as horses.
Mongolia votes for setting up International Think Tank
New York, Sep 22 : Highlighting the special constraints faced by landlocked developing countries, the President of Mongolia appealed to United Nations Member States to sign and ratify a multilateral agreement to set up an international think tank in his country’s capital to address the concerns of this vulnerable group.
Mongolia tries to wrestle record back from China
ULAN BATOR, Mongolia - More than 6,000 fighters are engaged in an epic battle in Mongolia as they try to snatch the world record for the largest ever Mongolian wrestling contest from neighbouring China.
The 'hilarious' photo of Obama 'moronically' waving
In a group photo with world leaders, Obama's waving hand blocks the face of Mongolia's president — and incites a fresh round of internet ridicule
Mongolia: Reindeer Culture Hangs On in Far North
It’s late summer and a chill wind blows through a tiny nomad camp in northern Mongolia’s permafrost forest.
Cooperation is Saving Mongolia’s Snow Leopards
NOTE: This is a guest post from Brad Rutherford, the Executive Director of the Snow Leopard Trust since 2000.
Mongolia wants bigger stake in gold, copper mine
ULAN BATOR, Mongolia (AP) — Mongolia's government is demanding a bigger stake in the massive gold and copper mine it is developing in conjunction with mining companies Rio Tinto and Ivanhoe.
Mongolia - The land of Chinggis Khan: A Surprising Economy
Views on Mongolia of Gaurav Bhatia, a M.A.D. Intern from HKUST MBA over the summer 2011 period.
Ts.Munkhbayar requests meeting with Prosecutor General
Ts.Munkhbayar, the head of the Managing Council of Gal Undesten Union, formally requested a meeting with Prosecutor General D.Dorligjav on September 19.
Social Insurance National Council discusses pension issues
A meeting of the Social Insurance National Council is being held at the State Social Insurance General Office (SSIGO) on Thursday.
6,000 jobs may be generated in 2012
Labor Conference 2011, which was held at the Chinggis Hotel on Tuesday, examined the issues facing employers, as well as ways to reduce unemployment and poverty.
PRESIDENT AT ANTI-DESERTIFICATION MEETING
Ulaanbaatar, Mongolia, /MONTSAME/ On Tuesday, the State Head Ts.Elbegdorj attended a high-level meeting themed “Addressing desertification, land degradation and drought in the context of sustainable development and poverty eradication”.
MONGOLIA MAY JOIN "OPEN GOVERNMENT PARTNERSHIP" INITIATIVE
Ulaanbaatar, Mongolia, /MONTSAME/ Being invited by the U.S President Barack Obama, the State Head Ts.Elbegdorj took part in an opening of the Open Government Partnership Initiative (OGPI) Tuesday in New York, USA.
WORKING GROUP'S FIRST MEETING IS FRUITFUL
Ulaanbaatar, Mongolia, /MONTSAME/ Permanent consultative working group on cooperation, established between Mongolia's Foreign affairs Ministry and People's government of Chinese Inner Mongolian Autonomous Region, ran its first meeting September 20 in Hohhot of China.
UN SECRETARY-GENERAL GIVES MESSAGE
Ulaanbaatar, Mongolia, /MONTSAME/ On occasion of the International Day of Peace celebrated on September 21, the UN Secretary-General Ban Ki-moon has delivered a speech.
G.ZANDANSHATAR MEETS THAILAND'S FOREIGN AFFAIRS MINISTER
Ulaanbaatar, Mongolia, /MONTSAME/ The Foreign affairs Minister of Mongolia, G.Zandanshatar has met Thailand's Foreign affairs Minister Surapong Tovichakchaikul September 20 in New-York.
Oyu Tolgoi agreement would face amendment again
Oyu Tolgoi agreement would face amendment on its second “anniversary” of the signing ceremony. Two or three amendments can be expected for this time.
Authority Against Corruption forwards 29 cases for prosecution
The Authority Against Corruption has investigated 106 cases of possible wrongdoing through the end of August, and has forwarded 29 cases to law-enforcement agencies for prosecution.
Interview of First Deputy PM N.Altankhuyag
First Deputy Prime Minister N.Altankhuyag was interviewed regarding the Tavantolgoi Investment agreement with the foreign investor consortiums.
Friedland takes issue with Rio Tinto
Tensions between the owners of the massive Oyu Tolgoi project in Mongolia, diversified miner Rio Tinto and Canada’s Ivanhoe Mines, appeared to flare up again on Wednesday, after the smaller firm accused its partner of making unauthorised statements regarding the asset.
Copper leads commodities decline after Fed warning, China PMI
Commodities tumbled on Thursday, led by copper, after the US Federal Reserve’s warning of a grim economic outlook and a contraction in Chinese factory output added to concerns about slowing demand for fuels and metals.
Ivanhoe Says Rio Released ‘Unauthorized’ Information on Mine
Ivanhoe Mines Ltd. founder and Chief Executive Officer Robert Friedland said Rio Tinto Group released “unauthorized and incomplete” information about Oyu Tolgoi, the Mongolian mine they’re jointly developing.
Ivanhoe roiled as Mongolia rethinks Oyu Tolgoi, says partner Rio makes ‘unauthorized’ statements
News that the Mongolian government is rethinking a 2009 deal that gave Ivanhoe Mines and Rio Tinto a 66% stake in the massive Oyu Tolgoi gold and copper project has sent the shares of Ivanhoe down more than 9.5% in Toronto on Wednesday afternoon, while Rio’s ADRs gave up over 6% in New York trade.
FNC’s Baier Airs Video of Obama’s UN ‘Photo Fail’
The picture of President Barack Obama putting his hand in front of the head of state next to him during a UN photo shoot Tuesday night has circulated on the Internet, and FNC’s Bret Baier on Wednesday evening ran video, of what he described as Obama’s “photo fail,” taking place.
Mongolia to send 850 peacekeepers to South Sudan
ULAN BATOR, Sept. 21 (Xinhua) -- The Mongolian government would send 850 soldiers to South Sudan as peacekeepers, Mongolian Defense Minister Luvsanvandan Bold said Wednesday.
President Obama Forgets He Is Not Alone During Photo Op at U.N.
After President Obama gave a speech at the United Nations Tuesday to mark the start of an initiative for transparency in government, he joined other leaders for a group photo but must have forgotten for a brief moment that he wasn’t alone.
The past is the past and the future is ... Mongolia
The financial world appears to be in meltdown across The globe but this column won't sleep until we've found The gems amongst The coal, The pearls amongst The oysters and The bulls amongst The bears.
Development key to regional peace
SHENYANG - Prominent political figures from Northeast Asia gathered in Shenyang on Wednesday to mark the 30th International Day of Peace, and stressed that sustainable development was a key factor to ensure peace in the region.
Mongolia resource sales hit headwind
ULAN BATOR - As Mongolia is cashing in on its enormous resource wealth, tensions are building between the Mongolian government and foreign investors.
Central Asia Metals Interim Results
Central Asia Metals plc, a mining and exploration organisation with operations in Kazakhstan and Mongolia and a parent holding company based in the United Kingdom, announces its unaudited results for the six months ended 30 June 2011.
German firms eye joint investing in commodity sources
* German firms study investment in foreign projects * Aim is to ensure supplies * Kazakhstan, Mongolia first focus
Uranium Corp, NPCIL to bid for assets abroad
KOLKATA: Public sector units Uranium Corporation of India Ltd (UCIL) and Nuclear Power Corp of India Ltd (NPCIL) will jointly bid for overseas uranium reserves , potentially boosting its financial firepower in any bid battle for gaining control of these assets.
Global Insider: India-Mongolia Relations
Indian and Mongolian troops are currently holding a two-week military exercise in Mongolia, following a visit by the Indian army chief to the Central Asian country.
Think tank for landlocked nations ‘vitally important,’ Mongolian leader tells UN
21 September 2011 – Highlighting the special constraints faced by landlocked developing countries, the President of Mongolia today appealed to United Nations Member States to sign and ratify a multilateral agreement to set up an international think tank in his country’s capital to address the concerns of this vulnerable group.
Peabody Energy Senior Scientist Honored by Mongolia’s Ministry of Nature, Environment and Tourism as ‘Distinguished Environmentalist’
ST. LOUIS, Sept. 21, 2011 /NEWS.GNOM.ES/ — Mongolia‘s Ministry of Nature, Environment and Tourism has honored Peabody Energy’s Senior Manager of International Reclamation Vern Pfannenstiel as a ‘Distinguished Environmentalist’ for his leadership to establish best scientific practices in land restoration to protect Mongolia‘s environment.
Mongolia May Revise Biggest Coal, Copper Project Agreements
Mongolia may revise ownership accords with Rio Tinto Group and other foreign companies for the nation’s two biggest mineral projects ahead of parliamentary elections scheduled for next year.
Preparation for autumn session is complete
The head of Parliament’s Office, Ts.Sharavdorj, told our correspondent that preparation work for the autumn session has been completed.
Ambassador resigning to work for Rio Tinto
The Special Deputy Ambassador for Nuclear Energy in the Ministry of Foreign Affairs and Trade, A.Undraa, is resigning to take a job with Rio Tinto. She spoke with our correspondent on Tuesday.
IMF official: Budget should not be revised
Steven Barnet, the head of an IMF working group, answered our correspondent’s questions.
MP suspected of embezzlement
The Anti-Corruption Authority (ACA) says MP Kh.Narankhuu is suspected of embezzling state property, and the case has been forwarded to the Ulaanbaatar Prosecutors’ Office for prosecution.
International conference opens in Ulaanbaatar
An international conference on developing democracies is being held at the Government House.
OYU TOLGOI CEO MAKES STATEMENT
Ulaanbaatar, Mongolia, /MONTSAME/ "Benefits of the Investment Agreement include more than 50 per cent of cash flow to Government of Mongolia," said the Oyu Tolgoi CEO Cameron McRae in his statement made September 19.
SEMINARS ARE RUNNING TOGETHER WITH GERMANY
Ulaanbaatar, Mongolia, /MONTSAME/ The seminars themed “Technical issues of auto road project” and “Infrastructure financing” are running September 20-23.
PREMIER RECEIVES ITALY'S MINISTER OF ECONOMIC DEVELOPMENT
Ulaanbaatar, Mongolia, /MONTSAME/ S.Batbold PM expressed a hope that a statement released by heads of the bilateral intergovernmental commission would contribute to the relations between Mongolia and Italy relations.
Mongolia: Britain caved on spy extradition
ULAN BATOR, Mongolia, Sept. 20 (UPI) -- Britain's courts caved in to political pressure when they allowed the extradition of a Mongolian security official to Germany, the Asian country says.
Relatives of extradited Mongolian official questions fairness of British judiciary
ULAN BATOR, Sept. 19 (Xinhua) -- Relatives of a Mongolian official said Sunday British law enforcement agents did not return some of his personal belongings when they extradited him to Germany, local media reported Monday.
Coking coal forecast cut as recovery lags
Australia cut its forecast for coking coal production in fiscal 2012 as recovery from natural disasters takes longer than expected but lifted its projection for iron ore production a touch.
Is copper heading for a fall?
While expectations of a deep supply deficit in the copper market led by strong demand from China have buoyed prices in the first half of the year, the reality of the situation doesn’t bode quite as well.
Mongolia eyes changes to Oyu Tolgoi copper deal
* Mongolian minister says govt may seek to alter agreement * Some lawmakers want bigger Mongolian stake in project * Ivanhoe shares down over 2 pct on the NYSE and TSX (Adds comments from Rio Tinto, background, share price move)
In Asia, Philippines is the best place to be a woman
MANILA, Philippines - The Philippines is the best place in Asia for women, at least according to a report released by Newsweek magazine.
Ivanhoe: No Talks With Mongolia On Changes To Oyu Tolgoi Pact
Canada-listed Ivanhoe Mines Ltd (IVN.T, IVN), the majority owner of the massive Mongolian Oyu Tolgoi copper and gold project, said Tuesday there have been no talks with the Mongolian government to change the terms of the 2009 investment agreement.
S.Bayartsogt: Oyutolgoi agreement to be modified
Twenty MPs have demanded changes in the Oyutolgoi mining agreement to give the state a bigger share of the proceeds.
Labor conference opens
The Confederation of Trade Unions, the Ulaanbaatar Labor Office, and the Employers’ United Association are holding their second annual labor conference at Chinggis Hotel on Tuesday.
PM receives Italian Minister for Economic Development
Prime Minister S.Batbold received Italy’s Minister for Economic Development, P.Romany, on September 19.
PRIME MINISTER LEGS BORDER CHECKPOINTS
Ulaanbaatar, Mongolia /MONTSAME/ Having participated in the Baikal Economic Forum (BEF) in Irkutsk, the Prime Minister S.Batbold has got acquainted with activities of the border checkpoints in Naushki and Altanbulag.
TURKISH PARLIAMENTARY OFFICE DELEGATION ARRIVES
Ulaanbaatar, Mongolia /MONTSAME/ A delegation led by Sadettin Kalkan, a secretary general of the Grand National Assembly of Turkey arrived Monday to pay a visit to Mongolia September 19-22.
ULAANBAATAR BUSINESS CENTER TO WORK IRKUTSK
Ulaanbaatar, Mongolia /MONTSAME/ The “Ulaanbaatar business center” opened in Irkutsk of the Russian Federation (RF) has become the very first foreign investment project, which has been openly announced by the administration of Irkutsk Oblast.
S.BATBOLD: IRKUTSK WILL AUGMENT NUMBER OF MONGOLIAN STUDENTS
Ulaanbaatar, Mongolia /MONTSAME/ The Prime Minister S.Batbold has met Mongolian students studying at the Medical Science University of Irkutsk during attending the Baikal Economic Forum (BEF).
Mongolia: Building for the boom
Economic growth linked to Mongolia’s huge mining potential has raised the prospect of long-awaited funds arriving for the construction of badly needed infrastructure projects in power, transport and other municipal sectors.
Mongolia: the world’s hottest stockmarket
Until recently, few investors paid any attention to Mongolia. But that’s starting to change. Mongolia is the size of western Europe and is thought to have the world’s second-biggest copper and uranium reserves, while 80% of the country is still unsurveyed, as Dexter Roberts points out in Bloomberg Businessweek.
Mongolia Mining Report Q4 2011
Mongolia is set for a rapid increase in production of gold, copper and coal leading to fast growth in the mining sector.
World energy use to increase 53 percent by 2035
International Energy Outlook 2011 (IEO2011) released by the U.S. Energy Information Administration (EIA) presents updated projections for world energy markets through 2035.
Rio Tinto: order books are full, pricing strong
LONDON -(MarketWatch)- Rio Tinto PLC (RIO.LN), the miner, Tuesday said its order books are full and pricing is strong, but added that markets are somewhat weaker than they were six months ago.
Mongolia mining curbs key for environment-president
* Mongolian worried about pollution from mining * Tough negotiations continue over coal project
Mongolia to double per capita GDP in one year
Interview with Vice Minister of Finance Ganhuyag Chuluun Hutagt at CNBC. The Vice Minister said that they want to reach $5000 per capita GDP by end of 2012, from $2470 currently.
East Asia Minerals Announces Change to Board
East Asia Minerals Corporation (TSX VENTURE:EAS) announces that following the recent strengthening of the Board of Directors with Mr. Peter Sederowsky reported on September 9, 2011, Mr. Greg Clark has resigned from the Board to focus on commitments with a new position outside of the mineral exploration industry.
Bella Asia offers a slice of Mongolia in a pot
It's a cuisine that has so far not appeared on any of the menus in the city. In fact, the sheer mention of Mongolian fare will, in all probability, draw a blank with many foodies in the city.
Mongolian artist sets up sets up camp at Manchester Museum
A Mongolian nomad will travel thousands of miles – to teach Mancunians about his homeland.
Mongolia's President Says Human Rights 'Universal'
NEW YORK, September 19, 2011 — Mongolia’s head of state made an impassioned case for universal human rights, justice, free media and clean government today, warning that his country’s vast mineral resources alone cannot guarantee its long term success as a nation.
Government meeting address Orkhon River pollution
At Friday’s Government meeting, members discussed pollution in the Orkhon River, which has been contaminated by chemicals from mining companies.
IMF representative in Mongolia won’t be replaced
Speaker D.Demberel received a delegation from the International Monetary Fund on September 16. The delegation was headed by Shogo Ishii, the director of the IMF’s Regional Office for Asia and the Pacific.
Animal program begins
Prime Minister S.Batbold officially began the Government’s Tavan-Erdene animal program at a veterinary conference in the Cultural Center last Saturday.
Government to increase spending
Due to higher than expected revenue, the Government discussed revising the 2011 budget at Friday’s meeting.
UK judge won’t comment on B.Khurts case
The President of the British Supreme Court, Lord Phillips of Worth Matravers, is visiting Mongolia at the invitation of the Mongolian National Chamber of Commerce and Industry.
Tavantolgoi mining companies to plant trees in Gobi
Officials in Tsogttsetsii soum of Umnugobi aimag say two Tavantolgoi mining companies, Energy Resources LLC and Tavantolgoi LLC, are planning to plant trees on 15 hectares in the soum, and that five hectares have already been planted.
CABINET MEETING BRIEF
Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet decided Friday to tackle manoey for some works of the great constructions, to be done in frames of the "New Great Construction" program, with sources of the Development Bank of Mongolia.
ITALIAN COMPANIES ON A BUSINESS MISSION TO MONGOLIA
(AGI) Rome - The Italian Minister for Economic Development will lead a business mission to Mongolia on September 18-20.
Dalai Lama's office denies stories of next reincarnation born in Mongolia
Tenzin Takhla, joint secretary of His Holiness Dalai's office in Dharmasala denied rumors that next reincarnation of 14th Dalai Lama is found in Mongolia.
Wikileaks:PRIME MINISTER BAYAR STEPS DOWN, CITING HEALTH
On October 26, Prime Minister Bayar announced his resignation for health reasons. Because Bayar is resigning for health reasons, he may be able to return to his position once he has recovered, as long as his party leadership and the government agree.
Wikileaks:GOM: INNER MONGOLIAN “VOLUNTARILY” RETURNED TO CHINA
In a meeting with PolOff, Chief of Mongolia’s Immigration Agency Murun defended his government’s conduct against allegations they had deported an Inner Mongolian with an appeal pending before the UNHCR.
Two Southern Mongolian Writers Awarded Human Rights Watch Hellman-Hammett Grant
Two Southern (Inner) Mongolian dissident writers, Mr. Hada and Mr. Tumenulzii Buyanmend, have been awarded the Human Rights Watch 2011 Hellman-Hammett Grant for their commitment to free expression.
Chinese copper demand to surge by 40pct by 2015
Reuters quoted an official from the China NonFerrous Metals Industry Association as saying that China’s apparent consumption of refined copper will rise by nearly 40% to 8.5 million tonnes per year by 2015.
Bloomberg Story about Tavan Tolgoi Saga– Mongolia’s National Security Council Rejects the Plan
ULAN BATOR, Sep 13, 2011 — A tentative investment agreement on giant coking coal deposit Tavan Tolgoi in Mongolia’s South Gobi region has been rejected by the National Security Council, Mongolian President Tsakhia Elbegdorj was quoted as saying by local media on Tuesday.
Market Chatter -- Corporate finance press digest
(Adds Origo, Pivovarna Lasko, Stada and STMicroelectronics) (Reuters) - The following corporate finance-related stories were reported by media on Monday:
Peabody Energy Should Run From Tavan Tolgoi Fiasco
Last Tuesday I posted about a Bloomberg article which explained that the Mongolian National Security Council has rejected a proposed mining plan that envisioned Peabody Energy, ( BTU ) Shenhua and a Russian/Mongolian group combining forces to develop the Tavan Tolgoi west concession.
PE firm seeks to sell Mongolian coal co - report
(Reuters) - Origo Partners Plc , a Beijing-based private equity firm, is looking to sell Gobi Coal and Energy, a Mongolia-focused coking coal company it owns, for as much as $750 million, Bloomberg reported citing two people familiar with the matter.
Mongolians in group art show
Teo + Namfah Gallery and Gossip Gallery present Time to Stop, an exhibition of paintings by three promising young artists, two of whom hail from Mongolia.
TEDxUlaanbaatar - Jack Weatherford - The Jewels of Mongolian Culture
In the 14th century, the North African scholar Ibn Khaldun wrote the first historical work to focus on tribalism as the key to understanding human civilization.
Haranga Resources discovers significant iron ore at Selenge Project in Mongolia
Haranga Resources (ASX: HAR) has unearthed broad widths of iron mineralisation in all sixteen diamond drill holes completed at the Bayantsogt prospect within its Selenge Project in Mongolia.
EFIC supports Leighton’s expanding capacity at Mongolian mine
Export Finance and Insurance Corporation (EFIC), the Australian Government’s export credit agency, has provided a US$81.7 million loan to facilitate the lease of mobile mining fleet and equipment by Leighton Asia, for use in its contract mining operations in Mongolia.
Somali pirates release Mongolian ship
Mogadishu - Somali pirates have released a Mongolian-flagged bulk carrier they seized off the coast of Oman in January after receiving a ransom, pirates and a maritime monitoring group said.
Mongolia council rejects plan for key coal project
ULAN BATOR, Mongolia -- Mongolia's National Security Council has rejected a plan for U.S. mining giant Peabody Energy, China's Shenhua Group and a Russian-Mongolian consortium to jointly develop the keenly sought Tavan Tolgoi coking coal deposit in the Gobi Desert.
Australian miners on hunt for Mongolia's riches but lack of rail access pose a challenge
THE plains and mountains around the town of Moron in northern Mongolia have not changed much over the past few millennia.
Britain illegally arrests, extradites Mongolian official
ULAN BATOR - Mongolia's vice foreign minister claimed Saturday the British High Court decision to extradite a senior security official to Germany was influenced by the British government.
Foreign investors pray for end to Mongolia's mining ban
(Reuters) - Foreign investors in mineral-rich Mongolia hope parliament will revoke a controversial law banning mining in the country's river and forest areas when it convenes for its busy autumn session next month.
Gobi Coal Seeks Buyers as Stock Rout Hampers IPO
Gobi Coal and Energy Ltd.’s owners are seeking to sell the Mongolian mining company for as much as $750 million, said two people with knowledge of the matter.
International conference of lawyers held in Ulaanbaatar
An international conference of lawyers is being held at the Government House. Lawyers from Russia, Japan, Germany, South Korea, the United States, and Mongolia are taking part.
Speaker receives Laotian ambassador
Speaker D.Demberel received the Laotian ambassador to Mongolia, Peng Intarat, on Thursday. The ambassador is ending his official duties in Mongolia.
B.Khurts hearing to be held October 24 in Germany
B.Bolor, the Deputy Minister for Foreign Affairs and Trade and head of a working group on the B.Khurts case, told our correspondent that the matter is still under investigation, and that Khurts is being held in a prison in Germany.
CW-GP political council to meet
The Civil Will-Green Party political council will meet on Friday. CW-GP Secretary General G.Gankhuu told our correspondent that the meeting was called to discuss the fact that the party has not yet been officially registered.
MONGOLIA AND GERMANY WANT TO BE PARTNERS IN RAW MATERIALS
Ulaanbaatar, Mongolia, /MONTSAME/ Mongolia and the Federal Republic of Germany (FRG) considered as necessity to establish a contract on economic partnership.
MONGOLIA WILL RECEIVE OVER ONE BILLION TOGROGS FROM JAPAN
Ulaanbaatar, Mongolia, /MONTSAME/ Mr Kidokoro Takuo, the Ambassador of Japan to Mongolia, has signed contracts of “Project on school dormitory repair in Tunel soum of Khovsgol aimag” and “Project on school building repair in Tsogt soum of Gobi-Altai aimag”.
MONGOLIANS PARTAKE IN ROUND TABLE MEETING
Ulaanbaatar, Mongolia /MONTSAME/ Mongolia and the Russian Federation (RF) shared information and views on problems having arisen in the boundary collaboration.
MONGOLIANS WANT TO REGISTER NAT'L WRESTLING IN GUINNESS BOOK
Ulaanbaatar, Mongolia, /MONTSAME/ About 4,000 wrestlers from the UB city and aimags have applied to participate in the biggest national wrestling competitions that aim to break a Guinness Record, said B.Tsogtbaatar, a secretary of Mongolia's National Wrestling Federation (MNWF) on Thursday.
First Deputy Prime Minister: Tavantolgoi agreement will be revised
The Leader of the Democratic Party and First Deputy Prime Minister, N.Altankhuyag, spoke to the media and said that the National Security Council has decided to revise the allotment of shares in the draft proposal of the Tavantolgoi agreement. An National Security Council working group is discussing the matter.
Confereration of Trade Unions requested to triple the wages
Yesterday, Confederation of Trade Unions requested to triple the minimum wage. The request was sent to the Government officials and employers.
Chairman of Rio Tinto will visit Mongolia
Rio Tinto Group’s Jan du Plessis, Chairman of Board of Members will visit Mongolia on 23-25 of September, 2011.
Mongolian Christians celebrate 20th anniversary of its official registration in Mongolia
Today Mongolian Christians celebrate 20th anniversary of official foundation of Christian churches in Mongolia.
Wikileakes:UPDATE ON COMMERCIAL DISPUTES AFFECTING US
UPDATE ON COMMERCIAL DISPUTES AFFECTING US TELECOMMUNICATION FIRM IN MONGOLIA
Wikileaks:ONE MONTH AFTER MONGOLIAN RIOTING, POLITICAL IMPASSE
One month after post-election violence left five people dead, hundreds injured and the ruling party’s HQ destroyed, Mongolia’s two biggest parties remained locked in a stalemate over election results and the legitimacy of the new Parliament.
UNHCR REP: MONGOLIA WILL NOT/NOT FORCE REFUGEES BACK TO CHINA
UNHCR’s Regional Rep for China and Mongolia, Veerapong Vongvarotai, visited the Embassy on April 24 and said UNHCR has appealed to the South Korean Government to reconsider its refusal to admit three North Korean refugees currently in Mongolia.
China to keep rare earth supplies tight
BEIJING - Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Holding Co, the nation's biggest rare earths producer, said on Thursday that short supplies of these valuable minerals represent an "irreversible" trend, a comment that could spark market speculation of further price rises.
Rio Tinto Plans To Sell 'A Lot' Of Oyu Tolgoi Output To China
SHANGHAI -( Dow Jones )- Rio Tinto PLC (RIO) plans to sell "a lot" of the output from the Oyu Tolgoi copper and gold project in Mongolia to China , and is in discussions with smelters in China, Rio Tinto's U.S. Copper Chief Financial Officer said Friday at an industry event.
Mongolia's first lady visits Denver for fundraiser to deliver medical supplies to her country
DENVER — Mongolia's first lady is visiting Denver for a fundraiser to send medical supplies and equipment to her country's hospitals and clinics.
Mineral riches drive Mongolia's dream transformation
YOU won't find a McDonald's restaurant in Ulan Bator. Nor will you find a Starbucks, nor any of the other franchises that typically crop up as a country begins to transform into a globally connected capitalist economy.
Limited rare earths the new norm
BEIJING - Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Holding Co, the nation's biggest rare earths producer, said on Thursday that short supplies of these valuable minerals represent an "irreversible" trend, a comment that could spark market speculation of further price rises.
Mongolian Government Endorses Chandgana Power Plant Project
VANCOUVER, BRITISH COLUMBIA, Sep 15, 2011 (MARKETWIRE via COMTEX) -- Prophecy Coal Corp. ("Prophecy") CA:PCY +3.03% (otcqx:PRPCF)(frankfurt:1P2) (the "Company") announces today that its Chandgana Power Plant Project ("Project") has been officially endorsed by the Mongolian Ministry of Natural Resources and Energy.
Mongolia National Security Council Rejected Tavan Tolgoi Plan -Source
TOKYO -( Dow Jones )- Mongolia's National Security Council has rejected a tentative investment agreement made in July between the government and international bidders for the right to develop part of the massive Tavan Tolgoi coal mine in Mongolia, a person close to the deal said Friday.
Mongolian-German mining meeting held in Berlin
The third Mongolia-Germany mining and mineral resources cooperation meeting was held in Berlin on September 12, with 33 delegates taking part.
Competiveness rankings released
The World Economic Forum (WEF) has released its annual Global Competitiveness Report, which ranks 142 nations based on their ability to provide what the WEF calls “sustainable current and medium-term levels of economic prosperity.”
NNP changes its name
The National New Party (NNP) is changing its name to the Mongolian National Democratic Party (MNDP).
Mongolia, Russia discuss border issues
High-ranking Mongolian and Russian officials attending the Baikal Economic Form held a roundtable meeting on Mongolia-Russia border issues on September 13.
Foreign-educated Mongolians beckoned home
A job fair for Mongolians educated abroad was held at the Chinggis Khaan Hotel in Ulaanbaatar on September 13 and 14.
DP launches “Perfect Democracy” campaign in Sukhbaatar Square
The DP on Thursday launched its “Perfect Democracy” campaign in Sukhbaatar Square. DP leader and First Deputy Prime Minister N.Altankhuyag, MP R.Gonchigdorj, DP coordinator general of members and supporters T.Khasbaatar, and other party officials formally opened the campaign and gave speeches.
PRESIDENT:"RECEIVING BACK NUCLEAR WASTE?--NO"
Ulaanbaatar, Mongolia /MONTSAME/ President Ts.Elbegdorj has underlined that a matter on burying nuclear waste in Mongolia became a center of the public attention in the last two months and that is creating a worry among people.
MONGOLIA AND JAPAN'S MINISTRIES TO COOPERATE IN NATURE ENVIRONMENT
Ulaanbaatar, Mongolia, /MONTSAME/ The 6th consultative meeting of nature environmental policy between Ministries of the Nature environment and tourism of Mongolia and of Japan is running 13-15 in Dalanzadgad soum of Omnogobi aimag.
Deputy Prime Minister Visits China
Li Keqiang, a Deputy Minister of State council and member of Standing committee on Political bureau of China met N.Altankhuyag, a Deputy Minister and head of Democratic party of Mongolia, on September 13 in Beijing.
Chinese coal and the business card paradox
Something was different at this year’s McCloskey Asia-Pacific Coal Summit, says Michael Parker at Bernstein:
Warning on Mongolia’s minerals regime
THE head of Rio Tinto in Mongolia has issued a stern warning to the local politicians agitating for a greater share of revenue from the country’s emerging mining industry, saying that Mongolia’s economic transformation could stall on the back of any further legislative uncertainty.
Friedland could have first Australian copper mine in 2014
Ivanhoe Australia Ltd (ASX & TSX: IVA) said Wednesday, a scoping study has shown the Mt Dore cathode copper project in north-west Queensland would provide “robust long-term cash flows for a modest outlay.
Barclays: Copper,tin were the only positive base metals
Copper and Tin were the only metals to close higher yesterday. This morning the whole complex is lower as macro fears dominate with news that some French banks have been downgraded.
WikiLeaks:MONGOLIAN DEMOCRACY IN ACTION: PARTIES MULL JUNE 29
Mongolian voters head to the polls on Sunday, June 29, to elect all 76 members of its parliament. This will be the fifth election since Mongolia peacefully cast aside its authoritarian, communist system in 1990/91, beginning its democratic transformation.
Mining in Mongolia: the new frontier
Mongolia is land-locked country squeezed between the Russian Federation to the north and China in the south, and it almost touches the border of Kazakhstan in the west.
Why All Roads Lead to Mongolia
In the past month, Mongolia has played host to an impressive succession of visiting world leaders, including senior officials from China, the United States, South Korea and Finland.
Resource Nationalism tops mining/metals risks for 2011-12—E&Y
Ernst & Young’s latest mining and metals report cites resource nationalism as miners’ top risk for 2011 while skills shortage, capital allocation and infrastructure access continue to dominate the business agenda.
Protoceratops Dinosaur found with its own tracks
A fossil housed for half a century in a Polish museum has turned out to be the first dinosaur skeleton preserved in its own tracks, say scientists.
China not intent to maintain role of major rare earth supplier: top producer
BEIJING, Sept. 15 (Xinhua) -- China's top rare earth producer said on Thursday that the country is not intent to maintain its role as the world's major rare earth supplier, and the trend of tight supplies is irreversible.
MONGOLIAN PRESIDENT ELBEGDORJ OFFERS ASSISTANCE TO ENVIDITY’S USD 1 BILLION SHIVEE OVOO COAL GASIFICATION AND GAS TO LIQUIDS (“UCG/GTL”) PROJECT
Envidity’s Chairman, retired General Wesley Clark has received communications from the Mongolian President's office confirming the national security interests of Mongolia in seeing Envidity’s USD 1 billion Shivee Ovoo Coal Gasification and Gas to Liquids (“UCG/GTL”) project advance and offering to meet personally with General Clark during a planned trip to attend the UN General Assembly in New York next week.
Petro Matad updates on licence arrangements; shares up
Mongolia focused Petro Matad ( LON:MATD ) has received from the government authority the usual two year extension to its production sharing contract (PSC) on Block XX in the eastern part of the country.
Mongolia Special Korea's Robotics Volunteer Team
Sharing brings more abundance to the soul. This is the lesson learned by a group of students who call themselves the Korea Robotics Volunteer Team, who spent some very special time sharing their knowledge and culture with their peers from Mongolia.
Will the next Dalai Lama come from Mongolia?
The newspaper Undesnii Shuudan has published a report saying a nine-year-old boy from Mongolia has been determined to be the successor to His Holiness the Dalai Lama.
Meat processor may be coming to Ulaanbaatar
While attending the Baikal Economic Forum on Monday, Ulaanbaatar Mayor G.Munkhbayar took time out to visit the Belorechenskii agricultural complex, where meat, milk, and eggs are processed.
MNT 69 billion to be spent on roads
The Auto Road Office says it will build 73 km of new roads in Ulaanbaatar, 60 km of which will be completed in 2012.
UNICEF officials recommend enriched flour
UNICEF officials Rana Flowers and Jack Bagriansky called on the head of the Standing Committee on Social Policy, D.Ochirbat, on Monday.
NNP holds assembly, considers name change
The National New Party (NNP) is holding an assembly at the Chinggis Hotel in Ulaanbaatar. About 230 delegates are attending.
Domestic consortium to invest in industrial complex
A consortium of ten Mongolian companies says it will help finance the Sainshand industrial complex, which will consist of nine factories, including a coal washing plant, a copper enriching factory, and a crude oil refinery.
PM calls on President of Buryatia
Prime Minister S.Batbold called on V.V. Nagovitsyn, president of the Russian Republic of Buryatia, on Wednesday.
Mongolian-German mining meeting held in Berlin
The third Mongolia-Germany mining and mineral resources cooperation meeting was held in Berlin on September 12, with 33 delegates taking part.
PRESIDENT MEETS AMBASSADOR KIDOKORO TAKUO
Ulaanbaatar, Mongolia /MONTSAME/ The Mongolia-Japan relations achieved a big progress, said the Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia Mr. Kidokoro Takuo Tuesday.
PREMIER MEETS GOVERNOR OF IRKUTSK OBLAST
Ulaanbaatar, Mongolia /MONTSAME/ Prime Minister S.Batbold received D.F. Mezentsev, a governor of Irkutsk Oblast, Russian Federation.
STANDING COMMITTEE HEAD MEETS BULGARIAN DELEGATION
Ulaanbaatar, Mongolia /MONTSAME/ Head of the Parliamentary Standing Committee on security and foreign policy Ya.Batsuuri MP held Tuesday a meeting with a visiting delegation led by Dimitar I. Chukarsky, a Member of Foreign Policy and Defense Committee at the National Assembly of the Republic of Bulgaria.
STATE HEAD BANS CABINET'S WORK ON NUCLEAR WASTE
Ulaanbaatar, Mongolia /MONTSAME/ President Ts.Elbegdorj banned the cabinet from dealing with nuclear waste issues on Tuesday.
Stable coal supply remains top priority in China
According to recent statistics from China National Coal Association, in the first half of this year, national coal output reached 1.77 billion tons, an increase of 12.7 percent compared with the same period in the previous year; the sale volume of coal was as high as 1.71 billion tons, an increase of 13.8 percent year-on-year.
Resource nationalism again named as miners’ biggest headache
The increasing spectre of resource nationalism has again been flagged as the number one risk facing mining companies, this time by Ernst & Young.
Junior sold for 800% more 18 months after IPO as coal miners go mad for Mongolia
Strong interest in the Mongolian resource sector has provided shareholders in Hunnu Coal a 800% gain in only 18 months.
ADB Says Asia Inflation Persists Even as Growth Outlook Cut
Sept. 14 (Bloomberg) -- The Asian Development Bank said inflation will put pressure on regional policy makers to manage price increases even as a faltering global recovery reduces economic growth.
Copper demand to explode over next 10 years - Rio Tinto
According to global mining giant Rio Tinto, the global demand for refined copper is going to soar over the next decade.
EU wants rare earth clarity from China: trade chief
(Reuters) - The European Union wants more clarity from Beijing on increased export quotas for rare earth minerals from dominant producer China in meetings next month and December, Europe's trade chief said.
Why All Roads Lead to Mongolia
Mongolians have long dismissed their country as a pony between two elephants. But a wealth of natural resources could change that.
Mongolia Per Capita GDP to Hit $5,000 by 2012: Govt Minister
Mongolia’s gross domestic product (GDP) per capita is on target to hit $5,000 by the end of 2012 from $2,470 currently, the country’s Vice Finance Minister, Ganhuyag Chuluun Hutagt told CNBC.
Ivanhoe advisers contacted potential investors for some assets
Ivanhoe Mines Ltd., the mining company founded by billionaire Robert Friedland, said its advisers contacted potential investors for some assets, including its 57 percent stake in coal producer SouthGobi Resources Ltd.
responsAbility Invests $2.5m in Microfinance Institution Asian Credit Fund of Kazakhstan, Bank Eskhata of Tajikistan, XacLeasing of Mongolia
responsAbility Social Investments AG, a Swiss investment company that manages four microfinance investment vehicles (MIVs), recently reported to MicroCapital that it has made debt investments totaling the equivalent of USD 2.5 million in microfinance institutions Asian Credit Fund LLP of Kazakhstan, Bank Eskhata (Eskhata) of Tajikistan and XacLeasing, a sister company of Mongolian microfinance institution XacBank [1].
Possible Bullish Engulfing Pattern Detected for Entree Gold (AMEX:EGI)
Analysts have spotted a possible bullish engulfing pattern in Entree Gold (AMEX:EGI) based on the price action in the company’s shares.
Origo Partners introduces new Mongolia fund
Origo Partners has introduced a new open-ended fund, the Mongolian Stock Exchange (MSE) Liquidity Fund which will invest in Mongolia.
Mongolian Resource Corporation eyes high grade gold prize in Mongolia
Mongolian Resource Corporation (ASX: MUB) has updated the market on the company's diamond drilling campaign in Northern Mongolia, where an initial 16 holes for 4500 metres has recently kicked off.
Dealmaking in frontier markets: Mongolia
Amid sluggish growth and a tough climate for dealmaking in developed markets, investment banks are turning to new territories to do deals with Mongolia one of the fastest-growing frontier markets.
Aspire Mining Limited (ASX:AKM) Management Update
Aspire Mining Limited (ASX:AKM) is pleased to announce the formal appointment of Mr Barsbold Tserenpuntsag ("Barsaa") as the Company's Chief Geologist.
China, Mongolia vow to further promote ties
BEIJING, Sep. 13 (Xinhua) -- China and Mongolia vowed to further promote bilateral ties as Chinese Vice Premier Li Keqiang met with his Mongolian counterpart Tuesday afternoon.
GTSO Ships Mongolian Rare Earth Core Samples to South Korea
SAN JOSE, Calif., Sep 12, 2011 (BUSINESS WIRE) -- Green Technology Solutions Inc. (otcqb:GTSO) announced today that 46 Mongolian rare earth core samples sent to South Korea for mineral analysis have been received by Korea Resources Corp. (KORES).
Mongolian lure sparks takeover bid
THE boom in interest in Mongolian resource stocks has borne fruit for shareholders in Hunnu Coal, with an agreed takeover bid only 18 months after it went public.
Mongolia Special Bringing Hope to Mongolia's Poorest
Mongolia, located in Central Asia, is a country of vast grasslands and plateaus. It is a mysterious place, where lakes exist side by side with expanses of desert.
Ivanhoe Energy drilling team mobilized on second planned test well in Mongolia
CALGARY, Sept. 13, 2011 /PRNewswire via COMTEX/ -- David Dyck, President and Chief Operating Officer of Ivanhoe Energy Inc. CA:IE -6.21% IVAN -6.76% , and Gerald Moench, President of Ivanhoe's wholly-owned subsidiary Sunwing Energy Ltd., announced today that Ivanhoe's drilling team has begun moving the drilling rig to the site of the second exploration well in east-central Mongolia.
SSIA fines mining companies
The State Specialized Inspecting Agency (SSIA) has shut down 73 mining companies that were operating illegally in Mongolia.
Mongolian team takes first in judo tournament
The Mongolian team took home the top prize in the third tournament of the World Cup of Judo “Chinggis Khaan 2011” under the President of Mongolia, which was held over the weekend.
National Security Council discusses murder case of S.Zorig
On September 9, the National Security Council (NSC) discussed the case of S.Zorig, an MP and Minister for Infrastructure who was brutally murdered in 1998.
STATE LEADERS TRIBUTE TO STATUE
Ulaanbaatar, Mongolia /MONTSAME/ On the occasion of the Day of Tribute to Politically Repressed People, wreaths were laid on Saturday, September 10 to the Statue of Politically Repressed People by the State Head Ts.Elbegdorj, the Parliament Speaker D.Demberel and the Prime Minister S.Batbold.
SPEAKER WORKS IN TOV AIMAG
Ulaanbaatar, Mongolia /MONTSAME/ D.Demberel, the Parliament Speaker worked in Jargalant and Bornuur soums of Tov aimag on September 10-11 to get au fait with process of harvesting and situation in rural area as well as activities of some entities.
BANK OF MONGOLIA REPORTS
Ulaanbaatar, Mongolia /MONTSAME/ According to the report of the Bank of Mongolia, money supply (broad money or M2) at the end of August 2011, reached to MNT 5911.2 billion, reflecting a decrease of MNT 9.2 billion or 0.2 per cent against the previous month, and an increase MNT 2253.8 billion or 61.6 per cent compared to the same period previous year.
MONGOLIA TRADES WITH 117 COUNTRIES
Ulaanbaatar, Mongolia /MONTSAME/ In the first eight months of 2011, Mongolia traded with 117 countries from all over the world and total external trade turnover reached 7080.1 million US dollars, of which exports made up 2889.0 million US dollars and imports made up 4191.1 million US dollars.
Prime Minister pays visit to Irkutsk, Russia
Prime Minister S.Batbold arrived in Irkutsk today to take part in the seventh Baikal Economic Forum. Irkutsk regional governor D.F.Mezentsev and his spouse welcomed the prime minister and his wife, Kh.Otgontuya, as well as Defense Minister L.Bold, former Prime Minister S.Bayar, MPs D.Idevkhten and E.Munkh-Ochir, Ulaanbaatar Mayor G.Munkhbayar, and journalists.
Thai Banpu in $443 mln bid for Australia's Hunnu
* Banpu offers to buy Hunna at A$1.8 a share, 30% premium to mkt * Sees growth potential in Mongolia * Plans to send bidder's statements by early Oct * Banpu's share down on concerns about short-term impact (Adds company, analyst comments)
Boroo gold is developing responsible mining
Four years ago, on the way when I went on business to Darkhan city, I saw a thrilling picture; souls were dug and mined everywhere.
Banpu to launch A$477m bid for coal developer Hunnu
PERTH (miningweekly.com) − Asian coal and energy provider Banpu has announced its intention to make a A$1.80 a share cash offer for all the shares it does not already own in ASX-listed Hunnu Coal.
Mongolia to borrow USD 20 million from Asian Development Bank
Mongolia will borrow USD 20 million from the Asian Development Bank under an agreement reached on Friday.
Mongolians attending Russian military academy
Russian websites report that 18 Mongolians have enrolled in the Suvorov Military Academy in Yekaterinburg, Russia.
PRIME MINISTER MEETS IOM DIRECTOR-GENERAL
Ulaanbaatar, Mongolia /MONTSAME/ The Prime Minister S.Batbold received Thursday, September 8 Mr. William Lacy Swing, the Director-General of the International Organization for Migration (IOM), in the Government House.
NUMBER OF AUSTRALIAN VOLUNTEERS AUGMENTED
Ulaanbaatar, Mongolia /MONTSAME/ A memorandum on implementing the program of Australian volunteers for development was signed on Thursday, September 8 by S.Bayartsogt , the Finance Minister and Sam Gerovich, the Ambassador of Australia to Mongolia.
PREMIER MEETS RUSSIAN REPRESENTATIVES
Ulaanbaatar, Mongolia /MONTSAME/ S.Batbold, the Prime Minister of Mongolia has received A.P.Torshin, the Deputy Chairman of the Federal Council of the Federal Assembly of the Russian Federal. Beginning the meeting, S.Batbold has expressed his condolences on behalf of the government of Mongolia and the Mongolian people over the death of ice-hockey players of the Lokomotiv club in a plane crash occurred near Yaroslavl city of Russia.
Erdene dials into new polymetallic discovery in Mongolia
An extensive polymetallic anomaly with areas of intense veining at surface bloomed for Erdene Resource Development (TSX: ERD) following soil and rock sampling in an area southwest of scout drilling on its prospective Tsenkher Nomin property in Mongolia.Erdene began exploring a broader area of Tsenkher Nomin after earlier this year scout-drilling at Nomin Tal, in the northeastern corner of the property, hit intercepts it called “encouraging” with as much as 13.3 g/t gold, 3 percent copper and 26 g/t silver.
Notes From an Expedition: A View From the Square
The imposing seat of Mongolia’s democratic government dominates the north side of Sukhbaatar Square in the center of the nation’s capital.
Rio Tinto forecasts surge in world demand for refined copper
The Australian reported that global demand for refined copper is forecast to rise by more than 40% to 27 million tonnes by 2020 and the massive Mongolian gold and copper Oyu Tolgoi project is strategically positioned to capitalize on that increase as it grows to become a top five global copper producer.
5 Reasons Rio Tinto Looks Attractive
We feature Rio Tinto(RIO) as a value pick on favorable market conditions due to strong demand from China and other emerging Asian economies.
SouthGobi Makes A Logical Target For Teck Resources
Coal sector M&A activity has picked up this year, with no end in sight. Rio Tinto ( RIO ) made a proactive acquisition when it bought an emerging coking coal player in Mozambique and it recently tendered for the 25% of shares of Australia's Coal & Allied Industries that it doesn't already own.
Erdene Strengthens Management Team
HALIFAX, NOVA SCOTIA, Sep 09, 2011 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. ("Erdene") CA:ERD 0.00% , is pleased to announce the appointment of Mr. Michael MacDonald to their management team as Director of Exploration-Mongolia.
Orlando Magic Dwight Howard visit to Mongolia
The American NBA Superstar and the player of “Orlando Magic” professional basketball team Dwight David Howard made a short visit to Mongolia.
Thailand's Banpu to bid for Australia's Hunnu Coal
MELBOURNE Sep 12 (Reuters) - Thailand's top coal miner, Banpu Pcl , is set to make a takeover offer worth about A$375 million ($393 million) for Mongolia-focused coal explorer Hunnu Coal , Australian media reported on Monday.
Humanitarian group provides oral-facial cleft surgeries in Mongolia
Taipei, Sept. 11 (CNA) A philanthropic medical team has returned from a cleft lip and palate repair trip to Mongolia, a humanitarian foundation said Sunday.
Rio warns Mongolia: don't become greedy
THE head of Rio Tinto in Mongolia has issued a stern warning to the local politicians agitating for a greater share of revenue from the country's emerging mining industry, saying that Mongolia's economic transformation could stall on the back of any further legislative uncertainty.
1,500 delegates taking part in investors’ forum
Since it began in 2003, the number of people attending the annual investors’ forum “Discover Mongolia” has grown every year.
MP L.Gantumur asks PM about nuclear waste
MP L.Gantumur has sent a note to Prime Minister S.Batbold about the ongoing controversy regarding nuclear waste storage in Mongolia.
Australia, Mongolia sign development agreement
Finance Minister S.Bayartsogt and Australian Ambassador to Mongolia Sam Gerovich on Thursday signed an agreement to bolster Australia’s volunteer efforts in Mongolia.
Judo tournament begins
The third tournament of the World Cup of Judo under the President of Mongolia begins on Saturday in Ulaanbaatar.
GENERAL VIJAY KUMAR SINGH ARRIVES HERE
Ulaanbaatar, Mongolia /MONTSAME/ On occasion of the 100th anniversary of the establishment of the Mongolian Ministry of Defense, a delegation led by General Vijay Kumar Singh, the Chief of Army Staff of the Indian Army arrived on Wednesday, September 7 in Mongolia.
PROGRAM BACKED FOR REDUCING CREDIT INTEREST
Ulaanbaatar, Mongolia /MONTSAME/ The cabinet has backed in principle a draft program on creating a market environment for reducing credit interest.
PRESIDENT LEGS JOINT MILITARY EXERCISE
Ulaanbaatar, Mongolia /MONTSAME/ On Thursday, September 8, the President and Commander-in-Chief of the Mongolian Armed Forces Ts.Elbegdorj got acquainted with the course of the "Selenge-2011" Mongolia-Russia joint military field exercise that is going at the Tavatolgoi military training arena.
AMBASSADOR OF GERMANY: ANGELA MERKEL WILL VISIT MONGOLIA
Ulaanbaatar, Mongolia /MONTSAME/ The Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany (FRG) to Mongolia Mr. Peter Schaller was received on Friday, September 9 by the Premier S.Batbold.
Mongolia plans huge coal IPO in 2012: executives
ULAN BATOR - Mongolia’s state-owned mining firm Erdenes Tavan Tolgoi (ETT) could list in Hong Kong, London and Ulan Bator early next year, executives with knowledge of the matter said Friday.
Working in Mongolia: Getting warmer
Mongolia is famous for many things, and being a hotspot of construction activity is not among them - but perhaps it should be.
Mongolian PM says plans to list national rail company
(Reuters) - The long awaited initial public offering of Mongolia's Erdenes-Tavan Tolgoi will be delayed to the end of the first quarter of 2012 at the earliest, Mongolian Prime Minister Sukhbaatar Batbold said on Friday, adding that his government was also planning to list part of the country's state-owned rail firm.
MPRP: MPP and DP acting illegally
MPRP officials, including Secretary General N.Udval and Secretary L.Tsog, released the contents of a note to the Government on Wednesday.
Discover Mongolia 2011 begins
The ninth annual International Investors’ Forum opens today at the Children’s Palace of Ulaanbaatar.
Government: Inflation will be reduced
At yesterday’s Government meeting, the Cabinet discussed a program for reducing interest rates. The program calls for low and stable inflation rates, banking transparency, financial stability, stock market development, improved infrastructure, and relevant legislation.
MPs to deliver note about Oyutolgoi to PM
A group of MPs say they will deliver a note about the Oyutolgoi mine agreement to Prime Minister S.Batbold at 4 PM on Thursday.
CW-GP says mining is causing environmental damage
The Civil Will-Green Party delivered an urgent message about the environment to the Government on Wednesday.
DRAFT RESOLUTION SUBMITTED
Ulaanbaatar, Mongolia /MONTSAME/ A parliamentary draft resolution on intensifying works of erecting oil refineries was submitted on Tuesday, September 6 to the State Great Khural.
MONGOLIA TO RECEIVE USD 300 MILLION SOFT LOANS
Ulaanbaatar, Mongolia /MONTSAME/ A general agreement on soft loan to be granted by the Economic development cooperation fund /EDCF/ of Republic of Korea in 2011-2015 will be concluded between Governments of Mongolia and the Republic of Korea.
EXPENSES OF PEACEKEEPERS TO CHANGE
Ulaanbaatar, Mongolia /MONTSAME/ The Cabinet meeting on Wednesday charged S.Bayartsogt, the Finance Minister an L.Bold, the Defense Minister to set the size of expenses of servicemen participating in peacekeeping operations at 70 percent of the sum of compensation for participation in UN operations and to accumulate remaining 30 percent in the Armed Forces Development Fund.
Mongolian lawmakers demand revision of large mining deal
ULAN BATOR, Sept. 7 (Xinhua) -- A group of 20 Mongolian lawmakers has demanded that the government revise an investment deal signed with two foreign mining firms in 2009, local media reported Wednesday.
SouthGobi sets new coal shipment record of 441,665 tonnes of coal in August
Alexander Molyneux, President and CEO of SouthGobi Resources Ltd. has announced that the company has set a new monthly record of 441,665 tonnes of coal shipped in August, representing a substantial increase over shipping levels in the second quarter of 2011.
Mining in Mongolia: The New Black
Mongolia is land locked country squeezed between the Russian Federation to the north and China in the south and it almost just touches the border of Kazakhstan in the West.
Is Mongolia a State at Risk? An Emory Scholar Investigates
Those shielded by America’s stability and freedom seldom understand the local and global forces that allow countries to be dominated by dictators or ripped apart by civil war.
Quam's Potter sees `very big returns' from Mongolia
Simon Potter, the director at Quam Asset Management, talks about investment opportunities in Mongolia on Bloomberg Television's "On the Move Asia,” on Sept. 6.
Mining in Mongolia: the new frontier
Mongolia is land-locked country squeezed between the Russian Federation to the north and China in the south, and it almost touches the border of Kazakhstan in the west.
China pushes for construction of Northeast Asia free trade area
CHANGCHUN, Sept. 7 (Xinhua) -- China is seeking to push forward the establishment of a free trade area among Northeast Asian countries in order to further boost the economic and trade exchanges in the region, a senior political advisor said Wednesday.
Mongolia's economic boom could face policy risks -investors
ULAN BATOR, Sept 8 (Reuters) - Mongolia's booming economy could be derailed by a slowdown in Chinese demand for its extensive mineral reserves but disruptive government policies present a greater risk, especially as 2012 polls near, investors and experts said on Wednesday.
Mongolia's Tavan Tolgoi says all firms still in running
* IPO venue for Erdenes-TT still undecided * Negotiations over Tavan Tolgoi mining rights ongoing (Adds details on Tavan Tolgoi deposit, IPO)
D.ERDENEBAT MEETS FOREIGN SPECIALISTS
Ulaanbaatar, Mongolia /MONTSAME/ D.Erdenebat, the Secretary General of the Democratic Party has received Adhy Aman and Byart Tora, program specialists of the International Institute for Democracy and Electoral Assistance ( IDEA) based in Stockholm.
CABINET MEETING IN BRIEF
Ulaanbaatar, Mongolia /MONTSAME/ The cabinet has discussed and backed draft amendments to the laws on police organizations, on national security, on intelligence organization, on protection against disasters, on implementing court decisions, on state secrets, on regulation of demonstrations; and on health.
CABINET BACKS LAW ON INNOVATION
Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, September 7, the cabinet discussed and backed a draft law on innovation and other draft amendments to some laws.
STATE SECRETARY MEETS AUSTRALIAN AMBASSADOR
Ulaanbaatar, Mongolia /MONTSAME/ The State Secretary of the Ministry of Foreign Affairs D.Tsogtbaatar received on Wednesday, September 7 Mr. Sam Gerovich, the Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia.
Notes From an Expedition: Through the Looking Glass
ABOARD THE TRANS-MONGOLIAN RAILWAY—The train pulls out of central station in Irkutsk, the sprawling capital of Eastern Siberia, precisely on time at 10:15 p.m. and swings into its route, around the southern shores of Lake Baikal and off to the separation point just past Ulan Ude—where the vast rail lines across Siberia diverge—the Trans-Siberian heading due east to Vladivostok on the Pacific, our line turning south toward Naushi and onward into Mongolia at the border crossing of Sukhbaatar.
Jay Taylor's "Gold, Energy & Tech Stocks" newsletter gives Prophecy Coal (TSXV:PCY) a Buy Recommendation - Video Summary Posted on Investmentpitch.com
Vancouver, British Columbia, September 7, 2011 - Jay Taylor, in the latest edition of the J. Taylor's Gold, Energy & Tech Stocks newsletter, gives Prophecy Coal (TSXV:PCY) a buy recommendation. Jay became aware of Prophecy Coal after his recent visit to Prophecy Platinum's (TSXV:NKL) property in the Yukon.
Job Fair 2011 Gate to Development and Employment
The 5th “Job Fair 2011” themed “Gate to Development – Employment” for students, alumni as well as returnees from developed countries will be jointly organized by Mongolian-German Bridge (MGB) with the National Committee for “A Year for Support of Employment” established by the Government of Mongolia within the framework of its announcement on “A Year for Support of Employment”.
Mongolia Growth Group Ltd. Announces Issuance of Employee Stock Options
Calgary, Alberta CANADA, Sep 07, 2011 (Filing Services Canada via COMTEX) -- Mongolia Growth Group Ltd. (YAK - CNSX), ("MGG" or the "Company") announces that 175,000 5-year stock options to purchase shares of MGG have been issued to salaried employees of MGG pursuant to the Company's stock option plan.
East Asia Minerals Provides Mongolia Uranium Program Update
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 7, 2011) - East Asia Minerals Corporation (TSX VENTURE:EAS) wishes to report on the progress of its 2011 summer drilling campaign at its wholly-owned uranium projects located in Mongolia.
Erdene Announces Significant New Gold Discovery in Southwest Mongolia, Commences Drill Program
HALIFAX, NOVA SCOTIA, Sep 07, 2011 (MARKETWIRE via COMTEX) -- Erdene Resource Development Corp. ("Erdene") CA:ERD +6.06% , is pleased to announce results from an expanded surface exploration program, focused on gold and base metal mineralization, at the Company's 100% owned Tsenkher Nomin property in southwest Mongolia.
Officials announce results of HIVAIDS meeting
The Mongolian delegation to the 10th International Congress on AIDS in Asia and the Pacific announced addressed reporters in Ulaanbaatar on Tuesday.
Counterfeit Louis Vuitton goods confiscated
The Intellectual Property Office (IPO) says it has confiscated counterfeit Louis Vuitton products from shops in Ulaanbaatar.
Conference focuses on corporate responsibility
An international conference entitled “Competition and Corporate Responsibility” was held on Tuesday at the Ikh Tenger complex in Ulaanbaatar.
Conference looks at environmental impact of closed mines
A conference on the environmental impact of closed mines was held August 31 to September 3 at the Erdenet factory.
DP official meets with international democracy group
DP Secretary General D.Erdenebat met with officials from the International Institute for Democracy and Electoral Assistance (IDEA) on Tuesday.
DEPUTY MINISTER LEAVES FOR CHINA
Ulaanbaatar, Mongolia /MONTSAME/ A delegation led by M.Enkhbold, the Deputy Minister has left for China to attend the 7th Northeast Asian Investment and Trade Expo which will be hosted in Changchun city of Jilin region of China on September 6-11.
MEETING OF CICA EXPERTS STARTS
Ulaanbaatar, Mongolia /MONTSAME/ Experts Meeting on Combating Desertification of the Conference on Interaction and Confidence Building Measures in Asia (CICA) kicked off on Tuesday, September 6 in Ulaanbaatar.
SUPER STAR DWIGHT HOWARD TO ARRIVE
Ulaanbaatar, Mongolia /MONTSAME/ One of the basketball stars and an American basketball player for the Orlando Magic of the National Basketball Association (NBA) Dwight D. Howard will visit Mongolia at an invitation of the Newcom Group and the Mobicom Corporation.
TS.ELBEGDORJ GIVES INTERVIEW
Ulaanbaatar, Mongolia /MONTSAME/ Correspondents of the Report Journal published by the Oxford Business Group (OBG) of the UK has taken an interview from the State Head Ts.Elbegdorj.
AMBASSADOR OF GERMANY PRESENTS DIPLOMATIC CREDENTIALS
Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, September 7, the Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany Mr. Peter Schaller presented his letter of credence to the President of Mongolia Ts.Elbegdorj.
Government Notification on burying nuclear waste in Mongolia
Mongolian Government has incentives to further study the radioactive mineral resources and become peaceful miner, producer and exporting country of nuclear energy.
Civil Movement opposes Robert Friedland
Representatives of Civil Movement are protesting Robert Friedland’s ownership of 33 mining licenses.
Australian Coal Miners Eye Mongolia
Australian mining companies are joining the international race to establish a massive coal industry in Mongolia. Mongolia is the most sparsely populated country in the world, and has enormous untapped mineral reserves.
Beautiful Inner Mongolia-A Handicraft and Photo Exhibition
The China Cultural Centre in collaboration with the Mediterranean Conference Centre will hold an Inner Mongolia Handicraft Exhibition at Sacra Infermeria Hall at MCC from September 23 to 27, 2011.
Mining in Mongolia: The New Black
Mongolia is land locked country squeezed between the Russian Federation to the north and China in the south and it almost just touches the border of Kazakhstan in the West.
Tests on water from Tuul River reveal pollution
The State Specialized Inspection Agency on Tuesday released the preliminary results of tests conducted on water taken from the Tuul River near the Songino Bridge, where many dead fish were recently found.
Annual “Green Days” fair to begin September 24
The Ministry of Food, Agriculture and Light Industry’s annual “Green Days of Fall” fair will be held at the Stadium in Ulaanbaatar from September 24 to September 30.
Officials give update on winter preparation efforts
Ulaanbaatar city officials gave an update on winter preparation efforts yesterday. Manager General Ch.Bat reported that planned winter preparation projects are 90 percent complete, and central heating repairs are 92 percent complete.
Burning of raw coal banned to reduce pollution
In Ulaanbaatar, the burning of raw coal has been banned in 50 khoroos of three districts – Bayangol, Sukhbaatar, and Chingeltei. It is hoped the ban will reduce air pollution in the city.
PREMIER WORKS IN SELENGE AND TOV
Ulaanbaatar, Mongolia /MONTSAME/ On Monday, September 5, the Prime Minister S.Batbold worked in Selenge and Tov aimags.
MAJOR TEST FOR ENVIDITY’S USD 1 BILLION SHIVEE OVOO COAL GASIFICATION AND GAS TO LIQUIDS (“UGC/GTL”) PROJECT
Despite significant progress over the past year, the finalization of USD 1 billion Shivee Ovoo Coal Gasification and Gas to Liquids (“UGC/GTL”) project that is expected to create approximately 3,000 construction and 150 permanent higher salaried jobs, reduce fuel dependency and prices, introduce patented technology, and raise millions of dollars in royalty and tax revenue for Mongolia has stalled.
Powerscreen heads east into Mongolia
Powerscreen has reached agreement with its first Mongolian distributor, Wagner Asia Equipment LLC.
Cultures combine to make beautiful music
Traditional music is given a contemporary twist in a new festival, writes Joyce Morgan.
Ministry of Defense observes centennial
The Ministry of Defense has announced plans to celebrate its 100th anniversary. Officials say a three-volume history of the ministry, including biographies of past defense ministers, will be published.
Companies have evaded MNT 460.6 billion in taxes
According to the Risk Management Department of the Taxation General Administration (TGA), producers of wool and cashmere products, construction firms, and coal-shipping companies in Mongolia have evaded paying taxes totaling MNT 460.6 billion.
Countryside residents request improvements in state services
Prime Minister S.Batbold continued his tour of the countryside on Monday, visiting three soums in Selenge aimag and one in Tuv aimag.
MPs must agree on election rules
A draft law on election rules failed to pass during the spring session of parliament because the MPP and the DP were unable to reach an agreement on the issue.
JOINT ANTITERRORISM EXERCISE OPENS AT "TAVAN TOLGOI"
Ulaanbaatar, Mongolia /MONTSAME/ A Mongolian-Russian joint antiterrorism exercise is running under the code theme “Selenge-2011” at military field exercises base of “Tavan tolgoi”.
MINISTER OF SOCIAL WELFARE MEETS IOM DIRECTOR-GENERAL
Ulaanbaatar, Mongolia /MONTSAME/ The Minister of Social Welfare and Labor T.Gandi met on Tuesday, September 6 Mr. William Lacy Swing, the Director-General of the International Organization for Migration (IOM).
SPEAKER MEETS PARLIAMENTARY DELEGATION OF SWEDEN
Ulaanbaatar, Mongolia /MONTSAME/ The Parliament Speaker D.Demberel has received a Swedish parliamentary delegation headed by Mr. Olle Thorell, a member of the Riksdag-parliament of Sweden.
T.GANDI MEETS RESIDENT REPRESENTATIVE OF ADB
Ulaanbaatar, Mongolia /MONTSAME/ T.Gandi, the Minister of Social Welfare and Labour has received Robert Schoellhammer, the Resident Representative of Asian Development Bank /ADB/ to Mongolia.
Mongolia: Mining boom takes shape
Mongolia’s mining sector is riding high, with the vast Tavan Tolgoi “five hills” coal mine expected to start exports and secure an international partner in the next few months.
Resignation of Minister D.Zorigt is requested again
MPs B.Bat-Erdene, Ts.Shinebayar, and S.Erdene requested the resignation of Mineral Resources and Energy Minister D.Zorigt at Monday’s meeting of the Standing Committee on Economics.
Mongolia approves additional rail links to China
Mongolia intends to build three additional rail links to China in addition to the existing railway that now runs from Russia to China through Mongolia, Khurelbaatar Chimed, minister of Mongolia and chief of the cabinet office, disclosed during his visit to Hong Kong.
Amir meets with Mongolian leader
His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, who is currently visiting Mongolian’s capital Ulaanbaatar, yesterday received the Mongolian President, Tsakhia Elbegdorj, at his temporary residence there.
Gold to trade above $2000 by year end: Standard Bank
Precious metal gold is trading low since quite some time as investors have turned away from safe-havens, expecting the US Federal Reserve to announce further monetary easing (QE3) when it meets on September 20.
India to emerge favourite destination for Mongolian students: Voroshilov Enkhbold, the Mongolian Ambassador to India
India is likely to emerge as one of the most favourite higher and technical education destinations for Mongolian students as the level of education here is fairly high and costs are affordable, said Mr. Voroshilov Enkhbold, the Mongolian Ambassador to India at Shobhit University here.
Mongolian IPOs: hot or cold?
Resource-rich Mongolia is considered a hot story among Asian investors, but an analysis of the IPOs of companies working in Mongolia shows their stocks have struggled, both in Asia and abroad.
Amir leaves Mongolia, heads for UK
ULAANBAATAR, Mongolia, Sept 6 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah left Mongolia on Tuesday, heading to the UK for a private visit, accompanied by the Deputy Chief of the National Guard Sheikh Mishaal Al-Ahmad Al-Jaber Al-Sabah and a delegation of other officials.
Army chief on four-day visit to Mongolia
Army Chief Gen VK Singh will be on a four-day visit to Mongolia starting on Tuesday to strengthen military ties with that country.
Mongolia Says $3B Coal IPO Likely Next Year
Mongolia is likely to sell a stake in its Erdenes Tavan Tolgoi coal-mining company to the public next year, raising more than $3 billion, the nation’s third- ranking government official said.
Oyutolgoi LLC to hold meeting
A regular meeting of the Representative Managing Council of Oyutolgoi LLC will be held this week. On the agenda will be plans to build a power plant at the mine.
Mongolians and Germans to cooperate on mining
Representatives of two Mongolian organizations and a German group have signed a memorandum of cooperation dealing with Mongolia’s mining sector.
Rare archeological find in Bulgan aimag
A joint expedition of Mongolian and Kazakh archeologists has reported finding a rare tomb after an excavation in Bayannuur soum of Bulgan aimag.
MONGOLIAN DELEGATION VISITING USA
Ulaanbaatar, Mongolia /MONTSAME/ T.Gantulga, the state secretary of the Ministry of Food, Agriculture and Light Industry is paying a working visit to the United States to get au fait with the Commodity Exchange of Chicago.
Meeting on Franchise will be held in Ulaanbaatar
The Franchise Council of the Mongolian National Chamber of Commerce and Industry (MNCCI) and Asiawide Franchise Consultants Group of Singapore are organizing an informational meeting about business franchises in Ulaanbaatar on September 12 and 13.
Frontier Securities Mongolia Expert Series: Mongolia Awakes! Credibility In The Investment World
The Silk Road Index is set to become a global benchmark that tracks the share performance of the 30 largest publicly listed companies with assets and operations in Mongolia.
Move One Delivers Training Material to Ongoing US-Mongolia Joint Operation
Move One Logistics continues to play a key role in the ongoing development of international trade and political relations between the US and Mongolia.
Genghis Khan rides again!
Craig Egberink spent $10 000 to enter the ” baddest horse-race on the planet”, the Mongol Derby in Mongolia.
Long term, iron ore, copper looking good – Rodney Cooper
The Gold Report: Dundee Capital Markets recently revised its commodity prices, most of which are forecast to go higher.
Copper market getting tighter and tighter: Commerzbank
Copper supplies are getting tighter on higher Chinese imports and copper mine strikes around the world.
3 Million Reasons to Visit Mongolia: The Land of Chinggis Khan
I remember, as a child, pestering my mother over and over for a biscuit, tugging at the hem of her skirt as she tried to get on with the housework, whining in the annoying high pitched wail peculiar to the most annoying of children until my mother finally snapped.
Will it ease the rush hours
On our previous issue we have informed you that all the governmental organizations operating under the authorization of Mayor of Ulaanbaatar are starting up work at eight in the morning instead of nine and finishing at five pm instead of six.
Genghis Khan, The Great Mongol
The recent visit of Her Excellency Smt. Pratibha Devi, the President of India to Mongolia and the signing of trade and cultural agreements, induced me to write about Genghis Khan, the Great Mongol of around 1210 who conquered the then whole known world.
City Stumblings
In Mongolia, when the bell rings, the students are supposed to stand up at attention, waiting for a prompt from the teacher.
Freedom of press in Mongolia: Room for improvement
The Asian Forum for Human Rights and Development has released a report on freedom of the press in Mongolia.
HH the Amir visits Mongolia
ULAANBAATAR, Mongolia, Sept 5 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, who is currently visiting Mongolian's capital Ulaanbaatar, received at his residence on Monday the Mongolian President Tsakhia Elbegdorj.
Mongolian tent brings Asian flavour to beer festival
A Mongolian tent being constructed amid the concrete and glass of the city will provide shelter for patrons seeking music, beer and warmth at the Free House during the RugBeer Hopfest.
CNN interview with Mongolian Prime Minister s.Batbold
Prime Minister of Mongolia S.Batbold gave a live interview from Central Square to a CNN correspondent.
Halonen offers Mongolia mining technology and support in building democracy
President Tarja Halonen fully enjoyed the final moments of her official visit to Mongolia on Thursday.
China, Mongolia economies are highly complementary: vice president
BEIJING, Sept. 2 (Xinhua) -- Chinese Vice President Xi Jinping said here Friday that the economies of China and Mongolia are highly complementary, especially regarding mining cooperation.
Mongolia: Will Peabody Get More, Less, Or The Same Of Tavan Tolgoi?
The Tavan Tolgoi coal deposit in Mongolia is the second largest coal deposit in the world (the Shengi deposit in China is the largest). W
Mongolians to take exam to work in Korea
Nearly 3,000 Mongolian workers hoping to find jobs in South Korea will take a Korean language proficiency exam on September 3 and 4.
MNT 24 billion allocated for development of soums
There are over 300 soums in Mongolia. (A soum is roughly equivalent to a county in the United States.) Some have fewer than a thousand people.
Mongolia, UNDP sign environment pact
Mongolia’s Environment and Tourism Minister, L. Gansukh, and the United Nations Development Programme’s Tomas Erickson have signed an agreement to strengthen environmental oversight in Mongolia.
M. Ganbold appointed as Deputy Chief of the ACA
President Ts. Elbegdorj has appointed Major-General M. Ganbold as Deputy Chief of the Anti-Corruption Authority.
Frontier Securities Mongolia Expert Series: Mongolia Awakes! Credibility In The Investment World
Ulaanbaatar, Sep 2, 2011 (ABN Newswire) - The Silk Road Index is set to become a global benchmark that tracks the share performance of the 30 largest publicly listed companies with assets and operations in Mongolia.
NUCLEAR WASTE NOT TO BE BURIED IN MONGOLIA
Ulaanbaatar, Mongolia /MONTSAME/ Although the Nuclear Energy Agency had to report on its activity to the Cabinet meeting, it postponed for one week due to the health condition of S.Enkhbat, the head of the agency.
"CHINGIS KHAAN" WORLD CUP TO GIVE 100 POINTS FOR OLYMPIC QUALIFICATION
Ulaanbaatar, Mongolia /MONTSAME/ The Mongolian Judo Federation (MJF) will organize the “Chingis Khaan 2011” World Cup competitions for the third time in Mongolia.
BANGKOK DELEGATION'S VISIT GOING ON
Ulaanbaatar, Mongolia /MONTSAME/ A visit of Thai representatives led by Suthichai Virakulsantorn, the chairman of the Bangkok city assembly is continuing in Ulaanbaatar, at an invitation of T.Bilegt, the chairman of the city's Citizens Representatives Khural.
FINNISH PRESIDENT RECEIVES SPEAKER
Ulaanbaatar, Mongolia /MONTSAME/ The Parliament Speaker D.Demberel was received Wednesday, August 31 by Mrs. Tarja Halonen, the President of the Republic of Finland paying a state visit to Mongolia.
T.GANDI RECEIVED BY PRESIDENT OF FINLAND
Ulaanbaatar, Mongolia / On Thursday, August 31, the President of the Republic of Finland Mrs. Tarja Halonen received T.Gandi, the Minister of Social Welfare and Labor and head of the Mongolian side of the Mongolia-Finland intergovernmental commission.
Mongolian wrestlers to take part in World Martial Arts Festival
A team of Mongolian wrestlers has departed for South Korea to take part in this year’s World Martial Arts Festival.
Ulaanbaatar mayor visiting Inner Mongolia
Ulaanbaatar Mayor G. Munkhbayar is visiting China’s Inner Mongolia Autonomous Region today. He met with Wan Bo, the mayor of Inner Mongolia’s capital, Hohhot.
DP leaders to meet with journalists
The Democratic Party is holding its regular “4:11” meeting with journalists today. The meetings are held on the first Thursday of every month at 11.00 in the morning.
Finnish president meets with Mongolian leaders
Finnish President Tarja Halonen, who is in Mongolia on an official visit, has met with President Ts. Elbegdorj, Prime Minister S. Batbold, and Speaker D. Demberel.
Ceremonies mark beginning of school year
Ceremonies are planned for the beginning of the new school year in Mongolian schools, universities, and institutes.
ABOUT GOVERNMENTAL WORKS AND ACTIVITIES
Ulaanbaatar, Mongolia /MONTSAME/ The cabinet has got acquainted with a report on implementation of the governmental activities.
PART-TIME STUDENTS TO HAVE BENEFITS OF HDF
Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, August 31, a regular cabinet meeting amended the regulation of Homeland Bounty for Mongolian Citizens.
MONGOLIA-FINLAND BUSINESS FORUM RUNS
Ulaanbaatar, Mongolia /MONTSAME/ A Mongolia-Finland business forum was held on Wednesday, August 31 in Kempinski hotel, UB in frames of the state visit of the President of the Republic of Finland to Mongolia.
Nomads no longer
GEGENTALA GRASSLANDS, Inner Mongolia: Like many nomads in Inner Mongolia, Bu He and his family no longer live in mobile yurts.
Mongolia Seeking to Float Coking-Coal IPO in Three Financial Centers
Mongolian government officials, speaking on condition of anonymity, have said that the government is preparing to issue an initial public offering or initial purchase offer (IPO) for the country’s Tavan Tolgoi ("Five Hills") massive coking coal deposit.
Ulaanbaatar public transportation schedule changed
In an effort to reduce traffic jams, officials in Ulaanbaatar have extended the hours that public transportation will be operated.
Ulaanbaatar mayor visiting Inner Mongolia
Ulaanbaatar Mayor G. Munkhbayar is visiting China’s Inner Mongolia Autonomous Region today. He met with Wan Bo, the mayor of Inner Mongolia’s capital, Hohhot.
Home buyers to get MNT 1 million each from government
The Government is implementing an ambitious program to build 100,000 new housing units in the capital. An apartment block with 15,000 units is already under construction on Yarmag hill.
ROUND TABLE MEETING OF MONGOLIA AND CANADA TO BE HOSTED
Ulaanbaatar, Mongolia /MONTSAME/ The fifth round table meeting of Mongolia and Canada will be held in Ottawa of Canada on September 8-9.
TV LESSON TAUGHT BY PRESIDENT
Ulaanbaatar, Mongolia /MONTSAME/ On Thursday, September 1--the first day of the academic year of 2011-2012, lesson of the second part of the secondary school classes was taught by the State Head Ts.Elbegdorj.
PREMIER GATHERS MEMBERS OF NAT'L COUNCIL FOR CD PRESIDENCY
Ulaanbaatar, Mongolia /MONTSAME/ On Monday, August 29, the Prime Minister S.Batbold held the first meeting of the National Council for chairing the Community of Democracies (CD) which is led by him.
MONGOLIAN CIVIL ENGINEERS TO COOPERATE WITH SWISS ENGINEERS
Ulaanbaatar, Mongolia /MONTSAME/ The Mongolian Association of Civil Engineers /MACE/ has concluded a cooperation contract with Swiss Association of Architects and Engineers /SAAE/.
ASEM partners to meet on immigration
Senior Asian and European officials meet in Ulan Bator, Mongolia, next week for discussions on the two regions’ shared challenge of dealing with immigration and preventing people trafficking.
Mongolia’s First Private Equity Fund Plans Debut Investment in October
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.
Rio Tinto: world needs 800 mln more tonnes of iron ore over next 8 yrs
The world needs at least 100 million tonnes of additional iron ore supply each year for the next eight years to meet demand growth projections, miner Rio Tinto said on Thursday.
South Korea deepens role in Central Asia
MONTREAL - South Korea President Lee Myung-bak returned home last week from a tour of Mongolia, Uzbekistan and Kazakhstan that helped to raise his country's profile and project its foreign economic diplomacy across Inner and Central Asia while significantly expanding Seoul's ties with the three countries.
Frontier Securities "Mongolia: Capital Raising and Investment" Conference: Mongolia Needs USD41-54 Billion Investments in the Coming Years
Ulaanbaatar, Sep 1, 2011 (ABN Newswire) - Mr. Randolph Koppa, President of the Trade and Development Bank (TDB) pointed out the huge investment needs in Mongolia in the coming years.
Key political risks to watch in Mongolia
BEIJING, Sept 1 (Reuters) - Mongolia sits on vast quantities of untapped mineral wealth, the exploitation of which is likely to turn it into one of the world's fastest growing economies over the next decade.