Mongolia Brief July 28, 2014 Part I
“Responsibility,
monitoring and implementation” online meeting runs
Ulaanbaatar,
July 28 (MONTSAME) At this monthly meeting, some specific works done this month
were named on Friday.
Starting the
meeting, the Premier N.Altankhuyag said that a new 3.4 km auto road was
constructed and passenger stations were erected in four spots to enhance a
passing capacity of the city-"Tolgoit" train station direction where
the bus-trains have been operating. Some roads were repaired into crossroads
near “Flower” center and “100 ail”, and a furnishing has started at the Gandan
Monastery’s street within the “Street” project, he went on.
The #3 thermal
power station recently accepted an annexe of 50 MWatt, and it became the
largest construction in the energy sector in last 25 years, the Premier
highlighted.
Some 35 million
USD has been exploited from the “Chingis” bonds’ revenue to provide 20 thousand
families with electricity, said Ch.Saikhanbileg, a head of the Cabinet
Secretariat for Government. Here the PM added it is necessary to give a report
on a course of financing for the selected projects on import substitution
industrialization, at the “Hours of great constructions” weekly meeting.
After this, the
Ministry of Road and Transportation reported that paved roads to Khovsgol and
Sukhbaatar aimags are expected to be put into use this October, and a road to
Omnogobi--this September.
"High
level visits are expected this August and September, a proper preparation for
them must be made," told the Premier related bodies and also obliged
localities' authorities to start a preparation for winter.
Australia-Mongolia
friendship group established
July 28
(Ministry of Foreign Affairs) Australia-Mongolia parliamentary friendship group
has been established within the Parliament of Australia. The group comprises of
22 members and senators, including the Senator Stephen Parry, the President of
the Senate, the Hon. Bronwyn Bishop, the Speaker of the House of
Representatives, and the Hon. Warren Truss, Deputy Prime Minister and Minister
for Infrastructure and Regional Development.
The Hon. Dr.
Sharman Stone MP, who is the Chair of the Foreign Affairs and Aid
Sub-committee, which focuses on foreign policy and aid affairs, was elected as
the Chair of the Australia-Mongolia parliamentary friendship group. The present
Australian parliament was established during the parliamentary elections that
was held in September of 2013.
Ten members of
the governing Liberal national party (LNP), 9 members of the
opposition-Australian Labor party as well as 3 members of the Nationals, who
built the coalition government with LNP, have joined the
Australia-Mongolia parliamentary group. Also, by state representation, there
are 6 members from each of the NSW and Queensland, 4 members from Western
Australia, 3 from VIC, 2 from Tasmania and one from Southern Australia.
Related:
Australia-Mongolia
friendship group established – Montsame,
July 28
Australia-Mongolia
parliamentary friendship group established – news.mn, July 28
Stock
exchange weekly review
Ulaanbaatar,
July 28 (MONTSAME) Five stock trades were held at Mongolia's Stock Exchange
July 21-25 of 2014.
In overall, 107
thousand 837 shares were sold of 39 joint-stock companies totalling MNT 70
million 776 thousand and 142.70.
"E-trans
logistics” /22 thousand and 567 units/, "Remikon” /20 thousand units/,
"Genco tour bureau” /18 thousand and 118 units/, "Hai Bi Oil” /17
thousand and 170 units/ and "Moninjbar" /12 thousand and 794 units/
were the most actively traded in terms of trading volume, in terms of trading
value--"APU” (MNT 15 million 312 thousand and 030), "Shivee ovoo”
(MNT 11 million 951 thousand and 900), "Hai Bi Oil” /MNT seven million 555
thousand and 680/, "Moninjbar” /MNT three million 458 thousand and 540/
and "Tavantolgoi” (MNT three million 325 and 060).
Press
release: Manlai soum anniversary celebrated in pictures
July 25 (Oyu
Tolgoi) - 90th anniversary commemorated with release of photo book –
Manlai soum, Mongolia - The 90th
anniversary of one of Umnogovi aimag’s soums is being celebrated in a brand new
book of photos. Oyu Tolgoi has launched the publication in cooperation with the
soum Governor’s office and local residents.
The book
documents rare and precious heritage and landmarks preserved from ancient times
as well as those from the present day. It also shows the beauty of the region’s
natural landscape, mountains, rivers, fauna and flora, and documents people’s
livelihoods, traditional household items and local customs.
The photos also
document modern progress and development, the faces of local residents, young
and old and will form an important historical record for the public.
Oyu Tolgoi is
committed to respecting cultural heritage, especially the traditional culture
of the Gobi. The Manlai book is part of the company’s ongoing programme to
preserve intangible and tangible cultural heritage in the region.
Sh.Baigalmaa, Oyu Tolgoi’s General Manager,
Social Performance said: “I am confident that this photo album will play an
important role in introducing Manlai soum’s history to future generations. On
behalf of everyone at Oyu Tolgoi, I am delighted to congratulate the people of
Manlai soum on this historic 90th anniversary and mark this moment by
presenting this photo book.”
Mongolia
earns MNT 481 billion from mining sector
Ulaanbaatar,
July 28 (MONTSAME) The mining sector is currently accounting for 18.5% of the
national GDP, 66% of total productions of the industrial sector, 83.2% of total
export, 17.5% of the revenue of national master budget, and 81% of the external
investment.
By the first
half of this year, the country’s copper concentration production reached 479.9
thousand tons, the coal production--11.7 million tons, gold production--3.0
tons, and fluorite concentrate--159.5 thousand tons. In addition, a production
of iron ore reached 2.7 million tons, of zinc concentrate--46.8 thousand tons,
and oil production--3.6 million barrels.
Against the
first half of 2013, the size of copper concentrate production increased 57.4%,
the iron production--by 17.5%, fluorite concentrate--by 17.1%, and oil--by
53.4%.
By the first
half of 2014, MNT 481.2 billion has been placed in the state budget through the
tax revenue from the mining sector. Mongolia exported 9.4 million tons of coal,
853.5 thousand tons of copper concentrate, 1.7 thousand tons of molybdenum
concentrate, 2.5 tons of gold, 138.4 thousand tons of spar, 2.6 million tons of
iron ore, 45.4 thousand tons of zinc and 3.4 thousand barrels. The export of
zinc concentrate rose by 34.5%, of oil export--by 39.4% against the first half
of 2013.
At the same
time, 4.1 tons of gold was handed over to the Bank of Mongolia (BoM), showing
an increase of 65.5% against the previous year.
Mongolia plans
to exploit and export 5.85 million barrels or 782.6 thousand tons of oil this
year. By this July 16, the country exploited 3.6 million barrels or 488
thousand tons, and exported 3.4 million barrels or 458 thousand tons of crude
oil. The planning performance showed 58.63%.
About
N.Korean embroider exhibition here
Ulaanbaatar,
July 28 (MONTSAME) A North Korean embroiderer Choe Jong Sung will open her
independent exhibition in the “Blue Moon” art gallery on August 1.
She intends to
show some 20 embroidery works featuring Mongolian lifestyle, history, landscape
and animals.
Embroidery
center of N.Korea has some 1,000 members. Their creations, which look like real
photos, have already gained a popularity around the world, including Mongolia.
The exhibition
will continue until August 5.
Hakuho
Davaajargal arrives back in Mongolia
July 28
(news.mn) Nagoya Grand Sumo Tournament finishes on Sunday. On the final day of
the July Tournament yokozuna Hakuho Davaajargal claimed his 30th
career championship defeating his rival yokozuna Harumafuji with 13 wins.
Hakuho comes closer to the all-time championship record in Japan's Professional
Sumo. The all-time record of 32 held by sumo legend Taiho. Hakuho Davaajargal
arrives back in Mongolia today on July 28th.
Australia-Mongolia
parliamentary friendship group established
July 28
(news.mn) Australia-Mongolia parliamentary friendship group has been
established officially in the parliament of Australia. The Group consists of 22
members and senators, including the Senator Stephen Parry, the President of the
Senate, the Hon. Bronwyn Bishop, the Speaker of the House of Representatives,
and the Hon. Warren Truss, Deputy Prime Minister and Minister for
Infrastructure and Regional Development.
As Chair of
Australia-Mongolia Parliamentary friendship group the Hon. Dr. Sharman Stone
MP, who is the Chair of the Foreign Affairs and Aid Sub-committee has been
elected.
The present
Australian parliament was established during the parliamentary elections in
September of 2013.
At the
Australia-Mongolia parliamentary group ten members of the ruling Liberal
national party (LNP), 9 members of the opposition-Australian Labor party and 3
members of the Nationals party which built the coalition government
with LNP, have joined. Also, by state representation, there are 6 members
from each of the NSW and Queensland, 4 members from Western Australia, 3 from
VIC, 2 from Tasmania and one from Southern Australia.
G.Mandakhnaran,
O.Uitumen grabbed gold from Kunayev International Tournament
July 28 (news.mn)
The III International Free Style Wrestling Tournament in memory of Dinmukhamed
Kunayev in Taraz Kazakhstan was held on July 26, 27th. About 120
wrestlers from 11 countries including Georgia, Iran, Italy, Canada, Kazakhstan,
Kyrgyz, Mongolia, Tajikistan, Uzbek, Ukraine competed at the tournament.
Mongolia`s
National team freestyle wrestler, State Merit Athlete of Mongolia
G.Mandakhnaran in men`s freestyle 65 kg and National team freestyle wrestler
O.Uitumen in men`s freestyle 86 kg crowned champions. Mongolia`s wrestler
E.Bekhbayar in men`s freestyle 57 kg, P.Unurbat in men`s freestyle 74 kg, and
D.Gombodorj each won bronze medal. The tournament took place at the Taraz-Arena
sport hall. The prize for the winners are; first place 5,000 USD, second place
3,000 USD, third place 1,000 USD.
Related:
Mongolians
win gold medals in Kazakhstan – Montsame,
July 28
Mongolia
increases oil production
July 28
(business-mongolia.com) Mining sector is composing 18.5% of the national GDP,
66% of the Industrial Sector, 83.2% of the net export, and 17.5% of the budget
revenue, and accounts 81% of the foreign investment.
As end of Q2
2014, Mongolia produced 479.9 thousand tons of copper concentrate, 11.7 million
tons of coal, 3 tons of gold, 46.8 thousand tons of fluorspar, and pumped 3.6
million barrels of crude oil.
On a
year-on-year basis productions increased by 57.4% on copper concentrate, 17.5%
on iron ore, 17.1% on fluorspar, and 53.4% on crude oil.
As end of Q2
2014, MNT481.2 billion or USD267 million was collected in tax revenue.
In the same
period, 9.4 million tons of coal, 583.5 thousand tons of copper concentrate,
1.7 thousand tons of molybdenum concentrate, 2.5 tons of gold, 138.4 thousand
tons of spar, 2.6 million tons of iron ore, 45.4 thousand tons of zinc, and 3.4
million barrels of oil were exported.
4.1 tons of
gold was sold to the Central Bank of Mongolia. On a y-o-y basis, it was
increased by 65.5% compared to 2.5 tons last year. It has been said that the
regulatory changes in transparency of gold mining has influenced the increase.
Out of planned
5.85 million barrels for 2014, 58.63% has been extracted and exported.
IMF:
China, Russia are facing downsized growth rates
July 28
(Mongolian Economy) The International Monetary Fund, or IMF, released a new
update on its World Economic Outlook this month. The outlook framed the global
economy with a statement highlighting a slowed down forecast of 3.4%, lower
than the previously expected 3.7%. While global recovery is still happening
worldwide, the economy is growing at uneven levels, requiring more stringent
universal action.
Recovery is
indeed weak, but it is still continuing. A large part of this slowed down pace
is due to the contraction within the United States economy, impacting overall
growth. However, next year, economic growth is projected to reach 5%.
Geopolitical tensions and financial market volatility provide more risks for
downplaying global growth.
China also saw
a downsized growth rate due to instabilities within its credit growth and
housing market. As a result, China is instigating certain measures in order to
support demand and jumpstart investment growth. Predications place China at an
expected growth rate of 7.4% in 2014 and 7.1% in 2015. In Russia, growth
diminished rapidly due to intense geopolitical tensions spilling over into its
economy. It is expected to remain at lower projected levels through 2015.
Emerging
markets are facing adverse conditions contributing to limited growth levels.
Other economies are undergoing weakened investment as well as capital flow
reversals. In order to reach more sustainable levels of recovery, it is
important for the global market to receive policy support. Structural reforms
are needed to boost investment and growth.
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