Mongolian Economy and Finance

Vancouver-based Kincora Copper (CVE:KCC) is raising up to C$6 million via a private placing.

A lawyer who rejected a possible job with Rio Tinto in Mongolia has expressed sympathy for the plight of Sarah Armstrong.

Photo Link:  http://kykernel.com/2012/10/29/photos-mongolia-dance-festival/

Research published in the journal Science has helped to explain the climate conditions behind Genghis Khan’s rise to power.

It’s hard to imagine in our sports-mad culture, but there are times when pocketbook issues trump even athletics.

Eight young horses bought off Christchurch trainers Graham and Paul Court will soon be exported to Mongolia.

Electricity is a regular topic of conversation in Umnugovi that has the feel of an unexplained natural phenomenon.

Mongolia’s central bank governor said that the nation’s growth rate may slow by a third this year from a record 17 percent in 2011 as inflows of foreign investment cool.

HONG KONG, Oct. 30 (Xinhua) -- Mongolia expects to recover its mine supply to the Chinese market in five to ten months as China has reduced purchasing mine in Mongolia due to the sluggish global economy, the vice minister of the country's Ministry of Economic Development Chuluunbat Orhirbat said here on Tuesday.

A new report from IFC and the World Bank finds that Mongolia is the top improver for the year for ease of doing business in East Asia and the Pacific Region and among the global 10 reformers in improving business regulations.

Coal miner Peabody Energy (BTU.N: Quote), eager to tap Mongolia"s massive coal resources, said on Friday it expects to resume talks with the government in early 2013 over acquiring a stake in the undeveloped western block of the Tavan Tolgoi deposit.

"Nongshim” Korean noodles have been banned in Mongolia because they are found to contain binzopiren which may cause tumors.

It is the 373rd anniversary of Ulaanbaatar city today. Many events are meant to be held during the day.

On the Friday’s Parliament meeting, the vetoing of laws and parliament policy project was introduced.

Within the framework of the “National Program to Expand the Range of Blood Donors,” Parliament members headed by Z.Enkhbold, Head of the State Great Khural (Parliament) and President Ts.Elbegdorj donated their blood at the State Palace last Friday.

The following was translated from local business media regarding the Prime Minister’s new initiative to reduce the price of coal for ger district residents—in contrast with legislation to reduce the use of coal.

[prMac.com] Ulaanbaatar, Mongolia - Mongolian-based Mongol Content today announces the release of Magnet Boy for the iPhone, iPod touch and iPad. Magnet Boy throws arcade action, platforming fun and puzzle problem solving gaming on its head and blends them all together!

MANAKIN-SABOT, Va. — When Linda Bugbee's husband suggested traveling to the South Pacific to see a total solar eclipse, she was more enthusiastic about the cruise and visiting Tahiti than she was about seeing a celestial phenomenon.

SouthGobi Resources Ltd. (SGQ) , controlled by a unit of Rio Tinto (RIO) Group, said its legal counsel who was barred from leaving Mongolia last week had met with the country’s anti-corruption agency to assist an investigation.

AUSTRALIAN diplomats have been blocked by Mongolian authorities from attending the questioning of stranded Australian lawyer Sarah Armstrong over bribery allegations against her Rio Tinto-owned employer.

On the 373rd anniversary of the establishment of the Ulaanbaatar City, the Ulaanbaatar City Museum organized an outdoor roving photographic exhibition last week.

By Paul Sullivan, Georgetown University

A schedule of the "48 Hour Film Project: Filmapalooza 2012" has been relased, and it will take place on March 6-12 2013 in the Wall of Fame street in Holliwood USA.

Oxfam UK, a UK-based charity, City of London and Symbiotics, a Swiss microfinance investment intermediary, recently launched a joint initiative known as the Small Enterprise Impact Investing Fund (SEIIF).

Everyone packed into the large hall waited in anticipation to see what was behind the blue veil draped gently over mysterious shaped and secretive items.

A new report from IFC and the World Bank finds that Mongolia is the top improver for the year for ease of doing business in East Asia and the Pacific Region and among the global 10 reformers in improving business regulations.

I was talking to an American friend today about the upcoming presidential elections in his country and I asked him if he had voted yet.

The 83rd Anniversary of the Mongolian Road Sector occurred on October 26 and the officials of the road sector paid a respect to the starting point at Sukhbaatar Square.

“The estimated current water demand is in the order of 80,000 m3/day and will increase to 400,000–450,000 m3/day in 2020.

In nation where 48 per cent of men are regular smokers, parliament acts to tackle a growing health problem.

The third Mongolian University Sports Festival ‘Universiade’ officially held its opening on last Thursday, October 25th.

(The following statement was released by the rating agency)

The rapid inflow of huge amounts of investment cash is forcefully dragging the small economy of Mongolia forward, despite numerous problems plaguing the Government and related crucial decision-making bodies.

A Victoria delegation’s whirlwind trip to China will pay dividends, Victoria Mayor Dean Fortin said Friday from that country.

ULAANBATAAR, MONGOLIA - OCTOBER 26: Mongolian school girls wait in line to use the bathroom during a break from 2nd grade class at public school number 39 October 26, 2012 in Ulaanbataar, Mongolia.

KUALA LUMPUR: About 15 years ago, Suronzonbold Battsetseg was a seven-year-old underprivileged girl from a poverty stricken interior in Mongolia.

A complicated, dynamic, sometimes violent yet sensual dance between Foreign Investors and the Mongolian Government.

Sarah Armstrong, the SouthGobi lawyer who last week was detained by the Mongolian government as a corruption investigation witness, has been subject to lengthy interrogations, her mother told the Weekend Australian.

The wife of an ethnic Mongolian activist says her husband's health is quickly deteriorating under illegal detention.

What are your first impressions of Mongolia?

Last week the MSE Top 20 index plunged 4.57, the largest decline since 16 December 2011.

Parliament's move to draw greater royalties and tax from the Oyu Tolgoi copper and gold project through revision of the investment agreement for the tremendous copper mine has some investors worried for the political stability and its ability to honor agreements.

When it comes to spending, the new government does not look so different from the last.

The Mongolian government plans to invite bids by the end of the year for the first phase of a USD 7 billion project to build around 6,000 kilometers of new lines, comprising an east-west corridor and two north-south lines.

Coal miner Peabody Energy Corp., who was offered a contract to develop Tavan Tolgoi's West Tsankhi, raced past analysts' estimates as cost cuts started to pay off and sales volumes in Australia climbed on a pick-up in demand from China, sending its shares up as much as 14 percent.

Newcom LLC gave media a look at the construction site for the Salkhit wind farm.

Dunedin-based company RSC Mining and Mineral Exploration Ltd is making plans for its fifth birthday next year.

Walter Energy ( NYSE:WLT ) reports that its third quarter earnings will include a goodwill impairment charge of up to $1.1 billion, resulting from modifications in the world outlook for met coal, along with sluggishness of late in global demand.

IT WAS - and still is - a country of immense untapped potential. But a series of missteps, uncertainties and controversies, culminating in the recent detention of Australian lawyer Sarah Armstrong, has seen Mongolia develop an increasingly unwelcome reputation for risk.

ULAN BATOR, Oct 26, 2012 (Xinhua via COMTEX) -- Mongolian Mining Minister D.Ganhuyag on Friday said the ministry will work hard until the the Oyu Tolgoi (OT) investment agreement is changed, promising that he would resign if he failed.

MONGOLIAN anti-corruption investigators were last night interrogating trapped Australian lawyer Sarah Armstrong for the second time over alleged misdeeds by her Rio Tinto-owned employer, a week after she was subjected to a 10-hour grilling.

The hearing dates which were earlier set to hear the appeal brought by two former police Special Action Squad commandos sentenced to death for the murder of Mongolian national Altantuya Shaariibuu, has been vacated.

Ambassador Manibadrakh Ganbold and staff members of the Mongolian embassy here did friendship work at the DPRK-Mongolia Jongbang Co-op Farm in Sariwon City, North Hwanghae Province on Wednesday.

The National Research Center for Infectious Diseases released information that the 115th , and 116th HIV infection cases were registered last week.

The Parliament finally discussed a decree on whether or not to agree to issue a government bond.

The opening ceremony for the “Great Chinggis Khan” exhibition was held at the Mongolian State History museum on 25th October.

The parliament discussed a draft law to make amendments in a law about concession contracts and passed it with 59.6 percent of MPs votes during a regular meeting on 25th October.

The smoking ban legislation passed by parliament on 24th October will be implemented from 1st March 2013.

The Standing Committees on Economy and State Budget held a joint meeting on Tuesday and discussed the draft loan agreements on “Health sector development program-4: Additional financing” and “Health sector development program-4” that will be implemented by the fund from the Asian Development Bank.

The 373rd Anniversary of the establishment of Ulaanbaatar City will be on October 29, 2012.

Government officials note that the release of Government Bonds will serve an important role in the short term plan to overcome current budget-related issues and the long term plans to finance some projects and programs to reduce their bond risks and, most importantly, to develop the government bond marketing as well as bond trading.

The following is an interview with Kh.Bayasgalan, the press and media representative of the General Execution Office of the Court Decision of Mongolia.

It can be said that many people view self discovery and creation as an integral part of their life goals.

There were over 500 young men and women aged from 16 to 25 who participated in the show ‘Making the Band – 3’.

It is reported that Sarah Armstrong, the Chief Legal Counsel of SouthGobi Sands (owned by Rio Tinto) was stopped by Mongolian authorities when she was about to catch a flight home in Hong Kong.

Sarah Armstrong, an Australian lawyer for a Mongolian mining company, is being prevented from leaving the country.

The World CTL 2012 India Summit will highlight India’s active project development in coal and petroleum coke (petcoke) conversion to high-value fuels and chemicals, World CTL president Serge Périneau tells Mining Weekly.

A recent drop in the share price for Entrée Gold, Inc., has been labeled “disappointing,” but the Canadian mining exploration company working in Mason Valley says it does not feel that decline reflects the underlying value of either of its two main projects, including the Ann Mason Project.

Caterpillar Inc., the heavy machinery brand distributed by Wagner Asia Equipment LLC in Mongolia, slashed its 2012 forecast for the second time this year and warned the global economy was slowing faster than it had expected.

Moody's Investors Services changed its outlook of the B1 corporate family and senior unsecured ratings of Mongolian Mining Corp. (MMC) to negative from stable on 17 October.

The opening of the ‘Divine Chinggis Khan’ exhibition took place at the State History Museum on October 24.

The following is an interview from the Undesnii Shuudan Newspaper with Ts.Oyungerel, the Minister of Culture, Sports and Tourism.

Mongolia ranks 76 this year compared with 86 last year in the “Doing Business” report by the International Finance Corp. (IFC), the financial arm of the World Bank.

MELBOURNE (Reuters) - Coal miner Peabody Energy (BTU.N: Quote ), eager to tap Mongolia's massive coal resources, said on Friday it expects to resume talks with the government in early 2013 over acquiring a stake in the undeveloped western block of the Tavan Tolgoi deposit.

MP S.Ganbaatar held a press conference today to announce he is suing N.Alagaa, the head of the Mining Association of Mongolia.

An open forum titled “Save our park” was held in Citizen Hall at 10:00o`clock today.

A Dispute over controversial mandate in the Uvurkhangai province erased and the parliament began the second discussion on draft budget today.

The Standing Committee on Justice raised an unplanned issue during today`s meeting.

L.Bold, the Minister for Foreign Affairs of Mongolia is visiting Germany on an invitation by Guido Westerwelle, the Federal Minister of Foreign Affairs of Germany.

Prime Minister N.Altankhuyag held the first meeting today as promised, to answer questions with diplomatic personnel, the council and foreign journalists to Mongolia.

The City Citizens Representative Council held a regular IV meeting in Khangarid Palace today with an attendance of 70 percent.

“The most important thing is that the government, provinces and the public must have the same understanding of mining.

Young people with bicycles have shown their support for actions which the Ulaanbaatar City Governor’s Office and the Millenium Challenge Foundation are taking to reduce air pollution and traffic congestion in Ulaanbaatar.

Government is borrowing money by issuing bonds to both foreign and domestic private sector with the condition of buying them back later on.

The writer who parachuted the Queen and James Bond into the Olympic opening ceremony has won the Guardian children's fiction prize.

CALGARY, ALBERTA — John J. Komarnicki, Chairman and Chief Executive Officer of DOT Resources Ltd. (TSX VENTURE:DOT) ("DOT" or the "Corporation"), on behalf of the Board of Directors, announces the appointment of Mr. Frank L. Wells, Jr. as a Director of the Corporation effective October 24, 2012.

BEIJING, Oct. 25, 2012 -- /PRNewswire-FirstCall/ -- Yongye International, Inc. (NASDAQ: YONG) ("Yongye" or the "Company"), a leading developer, manufacturer and distributor of crop nutrient products in China, today announced that the Special Committee of its Board of Directors (the "Special Committee"), formed to consider certain potential transactions involving the Company, including the preliminary, non-binding proposal (the "Proposal") from a buyer group (the "Buyer Group") including (i) Mr. Zishen Wu, the Company's Chairman and Chief Executive Officer, (ii) Full Alliance International Limited, (iii) MSPEA Agriculture Holding Limited, and (iv) Abax Global Capital (Hong Kong) Limited, to acquire all of the outstanding shares of common stock of the Company not currently owned by the Buyer Group in a going private transaction (the "Proposed Transaction"), has retained Houlihan Lokey as the Special Committee's independe

A supposed Buddhist statue allegedly carved from a meteorite 1,000 years ago may not be as ancient as suspected, according to a Buddhism expert who argues that the statue may be a 20th-century fake.

The parents of lawyer Sarah Armstrong, who has been detained in Mongolia after being caught up in a corruption investigation, just want their daughter back.

THE Hong Kong-based firm behind an Australian woman's detention in Mongolia as part of a corruption investigation has refused to comment on claims she was banned from leaving the country as retaliation for providing information against Mongolian authorities.

BANDAR Tun Razak Umno division secretary Abdul Zaharin Mohd Yasin apologised to the honorary consul of Mongolia, Datuk Syed Abdul Rahman Alhabshi, in a consent settlement in a defamation suit filed two years ago.

Inner Mongolia Baotou Steel Rare-Earth (SSE: 600111 ), one of China’s leading rare earth producers, has halted production at some of its smelting and separation operations in an effort to stabilize slumping prices.

Australia-listed Modun Resources said Thursday it had signed a heads of agreement with Australian trader Tennant Metals for thermal coal sales from its wholly owned Nuurst coal project in central Mongolia.

Mongolian authorities who have prevented an Australian lawyer from leaving the country will hold further talks with her this Saturday.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

A recent drop in the share price for Entrée Gold, Inc., has been labeled “disappointing,” but the Canadian mining exploration company working in Mason Valley says it does not feel that decline reflects the underlying value of either of its two main projects, including the Ann Mason Project.

SARAH Armstrong, the Australian lawyer trapped in Mongolia, is embroiled in one of the country's biggest corruption cases and may be "in the firing line" for any misdeeds by Rio Tinto.

THEY lovingly call it Mine-golia, but the past fortnight has provided some timely reminders for mining companies that their rush towards developing nations is not without its perils.

Rio Tinto and Turquoise Hills Resources last week publicly and firmly rejected a request by the Government of Mongolia to renegotiate the Oyu Tolgoi Investment Agreement (‘OT IA’), which is widely viewed as a benchmark for Mongolia’s commitment towards foreign investment and the country’s flagship mining development project.

Veteran Getty Images photographer Paula Bronstein travels to Mongolia to document the rapidly changing face of the country, currently the world's fastest-growing economy.

THE parents of a lawyer, Sarah Armstrong, detained in Mongolia after being caught up in a corruption investigation just want their daughter back.

Q&A with Global Met Coal (V.GMZ) Chairman, CEO, and President George Heard

BEIJING -- Inner Mongolia Baotou Steel Rare-Earth (Group) Hi-tech Co, China's largest rare earths producer, has halted some of its production in an effort to steady prices amid weak market demand.

A supposed Buddhist statue allegedly carved from a meteorite 1,000 years ago may not be as ancient as suspected, according to a Buddhism expert who argues that the statue may be a 20th-century fake.

On any given day at the American Museum of Natural History , employees might be meeting with dignitaries, interacting with children or traveling to far-flung destinations like Antarctica or Mongolia on scientific expeditions.

An Australian lawyer trapped in Mongolia was due to face her second interrogation by anti-corruption police last night as Australian consular officials tried to find out why she cannot leave the country.