Mongolian Economy and Finance

A former journalist who helped throw off decades of communist rule, Mongolia’s president Tsakhiagiin Elbegdorj has long dominated the political landscape but is now accused of failing to combat a wealth gap generated by a resources boom.

SINCE throwing off Soviet domination and embracing democracy 23 years ago, Mongolians have got used to electing their leaders.

Turquoise Hill Resources CA:TRQ +5.23% TRQ +4.59% TRQ +4.59% today announced that it has entered into an agreement with majority shareholder Rio Tinto for a non-revolving bridge facility for up to US$225 million (the “Bridge Facility”) maturing on August 12, 2013.

The surveillance story that started with four leaked slides from the Washington Post, today gets a bit clearer.

I congratulate President Ts. Elbegdorj on his success in the election held on Wednesday in Mongolia.

BRUSSELS, June 29 (KUNA) -- EU High Representative Catherine Ashton has congratulated the people of Mongolia "for exercising their democratic rights "in presidential elections on June 26.

Mongolians headed to the polls on June 26 to cast their ballots in the country’s sixth presidential election.

Mongolia’s President Tsakhia Elbegdorj has been reelected.

How would you like to attend class in a Mongolian tent (a.k.a. ger)? For most of us it sounds like an exotic adventure, but for some lucky kids in Mongolia, it’s a very practical solution to the problem of connecting their traditional way of life to the modern education system.

Ulan Bator - President Tsakhia Elbegdorj invoked Mongolia's warrior hero Genghis Khan on Thursday as he celebrated winning a second term in elections defined by a debate over inequality in a nation enjoying a mining bonanza.

ULAN BATOR, Mongolia (AP) — A popular ex-wrestler and a physician, the first woman to seek Mongolia's top office, are the main rivals to the Harvard-educated incumbent in Wednesday's presidential elections, but neither is likely to wrest the job from him.

ULAN BATOR, Mongolia Mongolia's president has won a second four-year term, securing a mandate for his efforts to crack down on corruption and further integrate the landlocked north Asian nation into international society.

Over the next few weeks, Omarama veterinarian Andrew Spence and his wife, Chris, will sell many of their belongings, pack up their home, and prepare to move with eight of their nine children to Mongolia.

Preliminary results Thursday from Mongolia's presidential election suggested that the front-running incumbent is poised to secure a second term after steering the resource-rich nation through a spectacular -- albeit divisive -- mining boom.

BEIJING – After China's longest ever manned space mission, three astronauts safely returned to Earth Wednesday as China celebrated another successful step forward in the slow but steady space program that President Xi Jinping has linked to his "dream" of national revival.

Three Chinese astronauts safely returned to the Earth on Wednesday after a record 14-day rendezvous in space to experiment with docking technologies of a proposed space lab, marking the latest success for the Communist giant's manned space programme.

BEIJING (Reuters) - Three Chinese astronauts returned to Earth on Wednesday, touching down in north China's Inner Mongolia after a successful 15-day mission in which they docked with an experimental manned space laboratory.

ULAN BATOR, June 29 (Xinhua) -- With the reelection of President Tsakhia Elbegdorj, Mongolia is expected to remain stable and its economy to maintain a steady pace of growth.

Mongolia President Tsakhia Elbegdorj is positioned to cement his party’s hold on the mineral-rich country, with a poll showing he is front-runner to win re-election after campaigning on his anti-corruption credentials.

Mongolian President Elbegdorj Tsakhia has won a second term, in an election dominated by a debate over the country's vast mining wealth.

More than 50,000 people attended the opening day of the 9th annual China-Russia-Mongolia Trade & Commodities Fair in Hailar, a district of Hulubuir in the northeast of Inner Mongolia autonomous region.

IT'S the kind of terrain even the toughest of 4x4s might struggle with.

First copper exports from Rio Tinto's $6.6 billion Oyu Tolgoi mine in Mongolia - believed to have been delayed due to populist pressures arising in the run-up to presidential elections this week - may start early next month after incumbent Tsakhia Elbegdorj secured a second four-year term, analysts said this week.

As the train chunters from Xanadu to Hohhot, capital of Inner Mongolia (but part of China ) grassland gives way to scrub, cattle to sheep and old Mongolian script joins Chinese and English on the signs. The Khan statues, however, are disappointingly life-sized.

Austria was the second Western European country after the UK to establish diplomatic relations with Mongolia.

Voting has closed in Mongolia's presidential election, which has pitted the incumbent against a former wrestler and a woman, amid calls for a fairer wealth distribution from a mining boom that has raised questions over the role of foreign investors.

* Oyu Tolgoi to be one of world's biggest copper mines * Row with operator Rio Tinto over repatriation of profits delays first shipments * Investors unnerved by Mongolia's regulatory and political risk * Country holds elections on Wednesday

HONG KONG — Mongolians appeared Thursday to have re-elected their president to a second four-year term, giving him half the vote needed to avoid a runoff election in a race that focused on demands that the resource-rich country do a better job of distributing wealth to its citizenry.

The day before Children’s Day—Mongolia’s national holiday celebrating children—UNICEF held a conference in Ulaanbaatar to launch its 2013 “State of the World’s Children” report. This year, the annual report was dedicated to children with disabilities.

Ulaanbaatar is likely to become a dark, frozen city in the next winter or two.

By Dashiell Young-Saver Harvard College

The “Peking to Paris” rally, officially named the “Peking to Paris Motor Challenge 2013,” in which classic vintage cars travel half around the world from Beijing to Paris, made a stop off in Ulaanbaatar last Saturday.

Mongolian runner B.Ser-Od won the Ulaanbaatar 2013 International Marathon in the Full Marathon 42-km race on Sunday, June 2. B.Ser-Od is one of the most prominent runners of Mongolia who has represented the country in the Athens 2004, Beijing 2008, and London 2012 Olympic Games.

One of the defining characteristics of the British is their education system. About 800 years ago, they founded the world’s first ever universities, Oxford and Cambridge.

Despite losing their experienced point guard to a shoulder injury and losing by 13 points in game one of the MNBA Finals, Tanan used a relentless fast break offense and tight 2-3 zone to win the next four games, finally clinching the championship on Wednesday night by a score of 91 to 82.

Mongolia is known among travelers as the land of nomads, birthplace of the great general and emperor, Chinggis Khaan, and land of many histories, dating all the way back to the Paleolithic Age.

By Dashiell Young-Saver

Anand Batsukh was born in the Mongolian countryside in 1985, but like quite a few Mongolians, he’s spent the majority of his life living overseas.

Chief of Staff of the President of Mongolia O.Tsagaan, Legal Policy Advisor to the President Ch.Unubayar, and the Senior Legal Consultant G.Munkhtulga called on a press conference on Wednesday at the Citizen’s Hall on behalf of the President of Mongolia.

Leaders of non-government organizations (NGOs) such as the “We Will Vote” movement, “Khan Khentii Mental Freedom,” “Development Speed” Association, and “Intellectual Gate” held a press conference on Wednesday to appeal to the youth and students of Mongolia to actively participate in the Presidential Election of June 26.

London-Cambridge-Ulaanbaatar

By Dashiell Young-Saver

One of the three presidential candidates will win the election and his or her policy will have an influence on the quality of your life – through your wallet – for the next four years.

The Anti -Corruption Authority has started an investigation into S.Bayartsogt after the Prosecutor General"s Office accepted the investigation request made by the ACA.

The Ministry of Culture, Sport and Tourism along with the State Property Committee of Mongolia officially announced to the public the decision regarding the ownership of the Lenin Museum that was made at Chingeltei District Court on June 12th.

RIO Tinto's problems with the stalled $US10 billion Oyu Tolgoi copper-and-gold mine in Mongolia might not be helped by the country's elections tomorrow.

Mongolia June 19 2013

Petro Matad (LON:MATD) is still a ‘buy’ according to Westhouse Securities, however, the City broker says a possible farm-out would be the only catalyst for the share this year.

Informative training for parents with children with cerebral palsy has been organized in Bayanhongor aimag.

The Mongolian Student Union is to organize the Education Fair and Exhibition Mongolia 2013 with support from the Ministry of Education and Science in Blue Sky Tower on June 28th and 29th.

The first national contest for professional contortionists began on Friday June 21st.

The First Mongolian underground film contest wrapped up on Saturday June 22nd with an Award ceremony at the Red Ger Gallery.

Russia plans to increase its coal exports to southeastern Asia by expanding its port capacity, reports Russia Beyond the Headlines.

Mongolia is one of the fastest growing countries in the world and has now been put under the spotlight by the United Nations Environmental Programme (UNEP).

AS WE drive across the Mongolian steppes, the contrasts are striking.

With every passing month, Tony Blair looks more and more like a deposed emperor who has systematically set up his own government in exile.

ULAN BATOR (AFP) - Mongolia on Thursday opened its first wind farm, a landmark $122 million project that aims to shift the country's reliance on coal and tackle the pollution choking its capital Ulan Bator.

SEOUL, June 18, 2013 – In Part 4 of Asia Society Korea Center’s 2013 Ambassador Series, H.E. Baasanjav Ganbold, Ambassador of Mongolia to the Republic of Korea, gave a lecture called Mongolia's 'Third Neighbor' Foreign Policy: The Concept and Evolution.

The three Presidential candidates – Ts.Elbegdorj (Democratic Party), B.Bat-Erdene (Mongolian People’s Party), and N.Udval (Mongolian People’s Revolutionary Party) – signed a statement on child rights and protection supported by UNICEF and the National Authority for Children (among other organizations) during the closing days of the campaign, effectively making a common commitment towards supporting the rights of children through their individual policies.

[by Joy Kim] Korean hip-hop idol group Electroboyz, solo artist Park Soo jin and girl group SWITCH will visit to Mongolia for K-wave concert as part of special events for ‘Senbeno Mongolia’, which is a showcase to share culture between South Korea and Mongolia.

Mongolia goes to the polls Wednesday to elect a new president as the country's mining boom raises questions over the role of foreign investors and the distribution of new found wealth.

President Tsakhiagiin Elbegdorj has been described as the “Ambassador for Mongolia” by local journalists for his ability to spread awareness of the country’s growing democracy abroad.

A Mongolian oil trading and processing company, HBOil, said that it will supply crude oil to North Korea's Sungri refinery and has also bought a 20 percent stake in the company for as much as $10 million.

Envision Montana with little or no range management and only marginal environmental regulation and you get an idea of what the stressed portions of Mongolia’s countryside look like.

On June 9, the Zorig Foundation held its annual Young Women Leaders Event, which brought together 115 young women recipients of the Shirin Pandju Merali scholarship program.

Rio Tinto said its plan to start exporting copper from the US$6.2 billion (HK$48.1 billion) Oyu Tolgoi copper mine on Friday has been delayed at the request of the Mongolian government, ahead of a presidential election on June 26.

Mongolia’s first commercial wind farm, the 50MW Salkhit, is now delivering electricity to the nation’s grid.

Spirit of Things

Wednesday's presidential elections and a revenue spat have reportedly caused the delay of the first copper export at Mongolia's $6.6 billion Oyu Tolgoi mine.

"Tell me, what is it you plan to do with your one wild and precious life?"

Rio Tinto said it remained on track to start production by the middle of the year at its giant copper-gold mine in Mongolia, playing down reports that it might temporarily halt construction.

ULAN BATOR - Mongolia on Thursday opened its first wind farm, a landmark $122 million project that aims to shift the country's reliance on coal and tackle the pollution choking its capital Ulan Bator.

Mongolia on Thursday opened its first wind farm, a landmark $122 million project that aims to shift the country’s reliance on coal and tackle the pollution choking its capital Ulan Bator.

Clean Energy, the company that developed the 50MW Salkhit project, received $47.5 million in EBRD financing, an amount that was matched by Dutch development bank FMO.

A Mongolian company has tapped one of the world’s most closed markets by taking a stake in a North Korean oil refinery , to help Asia ’s fastest growing economy ease its energy reliance on Russia and China .

ULAN BATOR- President of the UN General Assembly Vuk Jeremic visited Mongolia and conferred with President Tsakhiagiin Elbegdorj over the energy security, sustainable development, human rights and fight against corruption.

Strong field confirmed for this year's race

A giant Mongolian coking coal mine has halted coal sales and delayed its planned public listing after it was forced to fund cash handouts to the electorate, a sign of growing troubles at the project that was supposed to be a flagship for Mongolian development .

THE love of horses and a determination to capture on film a disappearing culture propelled Hannah Rose Robinson into the adventure of a lifetime two years ago in Mongolia.

FORBES ASIA caught up with Byung-hoon Lee, the Director of Corporate Responsibility at Hyundai Motor Group, to find out more about the company’s Green Zone China project that aims to help prevent the desertification of Inner Mongolia.

(Reuters) - Rio Tinto said its plan to start shipping copper from the $6.2 billion Oyu Tolgoi copper mine on Friday has been delayed at the request of the Mongolian government.

The lump of copper ore beneath the brown scrub and sand of Mongolia’s Gobi desert is about the size of Manhattan and contains enough of the metal to meet world demand for two years.

LONDON -- Rio Tinto PLC (RIO) said Thursday the Mongolian government has requested the delay of first copper concentrate shipment from the massive Oyu Tolgoi gold and copper project, which was due to start shipping on Friday.

Rio Tinto's new dawn in Mongolia has again had the rug pulled from beneath it, with the Mongolian Government spectacularly spoiling a party to celebrate first commercial sales from the Oyu Tolgoi mine.

Mongolia is insisting that revenue from Rio Tinto Group (RIO) ’s $6.6 billion Oyu Tolgoi copper and gold mine be kept in the country before it will allow sales to start, according to a government official with knowledge of the matter.

Rio Tinto has delayed its first shipment of copper from a huge Mongolian mine project, which was due to begin Friday, because of a lack of government support.

Former Labour Prime Minister Tony Blair - now a global consultant estimated to be worth £50 million - has signed a deal to advise the Mongolian government.

Modun Resources ( ASX: MOU ) is on the road to commercialising the wholly-owned Nuurst Coal Project in central Mongolia, with the company's subsidiary ( Modun Resources LLC) being selected as a preferred supplier of coal briquettes to the Mongolian Government.

Mineral-rich Mongolia’s export income dropped in the first five months of this year as a result of falling coal prices paid by China , the nation’s largest trading partner.

For Main Board listed issuers

ULAANBAATAR (Mongolia), June 13 (Bernama) -- Mongolia and Germany have agreed to boost bilateral relations and cooperation in the defence sector especially in peacekeeping operations and military training and exercise, Mongolia's MONTSAME news agency reported.

ULAN BATOR, Mongolia, June 10 (UPI) -- An exhibition of fossils returned to Mongolia after being smuggled into the Unites States has gone on display in the capital of Ulan Bator, officials said.

I used to ride a lot of trains when I was a PhD student in the United Kingdom.

By Dashiell Young-Saver

The former prime minister has negotiated a contract to advise the Mongolian government just as the country strikes it rich from a vast copper and gold mine in the Gobi desert.

A few weeks back, at the World Health Assembly , World Bank President Dr Jim Kim said the world is at a crossroads when it comes to health.

From yurts to skyscrapers, horseback to automobile, Mongolia is at an exciting moment in its history.

GENGHIS Khan is to march on the capital in a major coup for the producers of the Royal Edinburgh Military Tattoo.

For centuries, the typical image of Mongolia has been nomadic herders on horseback living in yurts or gers.

Ulan Bator: When you get out of the plane and enter the Chinngis Khan Airport just outside of Ulan Bator, you quickly realize that Mongolia is a former Soviet Republic.

Mongolia’s central bank plans to cut interest rates on mortgages by almost half to 8 percent from around 15 percent this month, following a new policy approved by the government to ease financial burdens on the middle class.

A historian from China’s Inner Mongolia region held and accused of plotting a coup in the neighboring country of Mongolia has gone on hunger strike to push for his release, a U.S.-based rights group said Wednesday.

Observers say he is a sure thing. His party hopes he is.

Yum! Brands, a global company based in Kentucky, USA, partnered with TavanBogd Food Co., Ltd to open the first KFC restaurant in Mongolia—located in Ulaanbaatar near the central square—Wednesday afternoon.

EVA Air expanded its reach to Inner Mongolia last week, as it commenced services on the 2,000-kilometre route from Taipei Taoyuan (TPE) to Hohhot (HET) on 3 June.

Inside the compound, which is surrounded by stark hills and grassy plains dotted with grazing horses and cattle, sits one of only a few mercury-free processing facilities in the country.

Construction has officially commenced on a new ferroalloy logistics park with a total planned investment of RMB 1.5 billion ($243 million) in the city of Fengzhen in China's Inner Mongolia region, according to local media reports.

Mongolia is in the middle of a resources boom with Oyu Tolgoi, the huge copper and gold mine, soon to open, which will provide vast revenues for the government that can be spent on infrastructure and education if corruption can be kept in check.

Last weekend, my very first Mongolian friend and I, along with a Chinese-American tourist, went to Ulaanbaatar Palace to watch the show of Australian illusionist and magician Ben Murphy.