Saturday, September 13, 2014

Mongolia Brief September 11, 2014 Part III

Chairman of Rio Tinto Group seeks negotiations over Oyu Tolgoi issues

September 11 ( Chairman and Chairman of the Nominations Committee of Rio Tinto Group, Jan du Plessis, plans to come to Mongolia later this September.

He hopes to resolve negotiations on issues related to the massive Oyu Tolgoi project in Mongolia during his visit.
In particular, the underground expansion of Oyu Tolgoi and the tax dispute between the Mongolian government and Rio Tinto are expected to be raised. Several issues, including the feasibility study of the second phase development of the Oyu Tolgoi project will be discussed during a meeting between the Government of Mongolia and Rio Tinto during Jan du Plessis' stay in Ulaanbaatar.

Mongolian women's team wins silver at ISSF World Championship

September 11 ( Mongolia's women's team, including State Merit Athlete O.Gundegmaa, International Master Ts.Munkhzul, and T.Bayartsetseg won silver with a score of 1739 in the 25 meter pistol event at the 51st International Shooting Sport Federation World Championships in Canada.
China's team won gold with a score of 1741 and South Korea's team won bronze with 1734.
Mongolia's team led with their scores until the last, but fell behind China.
The Mongolian women's team won bronze in the 25 m pistol event in 1998. The national women's team that year consisted of State Merit Athlete O.Gundegmaa, State Merit Athlete D.Munkhbayar and IM D.Oyun.
This year, O.Gundegmaa took 13th place with a score of 581, IM Ts.Munkhzul was 9th with 582, and IM Ts.Bayartsetseg was 33rd with 576.
O.Gundegmaa and Ts.Munkhzul just missed 1-2 points to shoot in the final for a place in the Olympics.

Heads of State of Mongolia, Russia and China to Meet in Tajikistan during Shanghai Cooperation Organization Summit

September 11 ( On September 11, 2014, the President of Mongolia Ts.Elbegdorj left for Dushanbe to attend the 14th Summit of the Shanghai Cooperation Organization hosted by the Council of Heads of State taking place in Tajikistan on September 11-12, 2014.
During this annual Summit, parties will come up with the specific measures on security and cooperation, significant to regional stability and development as well as the Dushanbe Declaration will be issued and approve a series of documents on SCO expansion.
Moreover, President of Mongolia Ts.Elbegdorj will hold bilateral meetings with President of the Russian Federation V.V.Putin and President of the PR of China Xi Jinping to discuss an organizational issue of trilateral Meeting in Ulaanbaatar between heads of state of Mongolia, Russia and China.

Over 1,700 foreigners deported in 2013

By B. Khuder
Ulaanbaatar, September 11 (MONTSAME) The General Authority of Citizenship and Migration (GACM) reports that 1,755 foreign citizens were deported from Mongolia in 2013.
Most of the deported had problems such as visas and residence permissions' expiration, non-sanctioned activities, employment without permissions from authorities. Some 1.8 billion Togrog of fines were imposed upon those enterprises and organizations that breached laws and regulations.
As of this September 10, already 863 foreigners were deported from Mongolia, they have been banned from entering the Mongolian territories for 1-10 years. The guilty organizations and companies have paid fines of 662.6 million Togrog.

Khan Bank Launches E-banking Campaign Across the Country

September 10 (Khan Bank) Through its extensive branch network, Khan Bank has launched its E-banking campaign starting on 10th September until 30th November 2014. The aim of organizing this three month campaign is to promote Khan Bank’s E-banking products and services as well as the advantages of receiving comprehensive banking services, and to enable customers to utilize it in their daily life, without having to visiting the branches of the bank.
Khan Bank makes constant investments in its E-banking products and services, and has introduced numerous services such as Mobile Banking and Telephone Banking to transfer money, SMS Alert to report every deposit and withdrawal transaction, Internet banking to make transactions within Khan Bank and intra banks, and Khan Bank’s  Smart Phone Banking etc.
In order to save valuable time spent visiting the branches you are only required to come to any Khan Bank branch once and register for the E-banking products and services.
The campaign will continue until 30th November and our relationship manager will give advice and information about E-banking and demonstrate how to use them accordingly. Moreover, lucky winners will be selected from active E-banking users as part of the campaign, so don’t miss this chance to be one of them!

Stock exchange news for September 11

By B. Khuder
Ulaanbaatar, September 11 (MONTSAME) At the Stock Exchange trades on Thursday, a total of 23 thousand and 151 shares of 19 JSCs were traded costing MNT seven million 860 thousand and 321.50.
"Genco tour bureau” /10 thousand and 264 units/, “Merex” /8,660 units/, “Hermes center” /967/, “Silikat” /950 units/ and "Tavantolgoi” /832 units/ were the most actively traded in terms of trading volume, in terms of trading value were "Tavantolgoi” (MNT four million 326 thousand and 400), "Gobi” (MNT 888 thousand), "Genco tour bureau” (MNT 841 thousand and 985), "Merex” (MNT 779 thousand and 400) and "Silikat” (MNT 213 thousand and 750).
The total market capitalization was set at MNT one trillion 606 billion 691 million 145 thousand and 346. The Index of Top-20 JSCs was 15,657.49, decreasing 256.92 units or 1.61% against the previous day.

‘Oil and Oil Shale Mongolia 2014’ takes place in UB

By Ch. Khaliun
September 11 (UB Post) The international investors forum “Oil and Oil Shale Mongolia 2014” was held in UB for the first time, from September 10 to 11.
The forum addressed government policy in the oil sector, the Law on Petroleum, the investment environment, the oil sector’s current situation and prospects, the environment and local relations, leading technology, perspectives on non-traditional fuel research, infrastructure and the workforce.
PM N.Altankhuyag attended the forum and gave an opening speech saying, “The ‘Government for New Changes’ has made many reforms related to the inclusion of non-traditional sources of fuel, improved the legal environment, drawn investment and enhanced competitiveness. We approved the policy on the minerals sector and revised a draft of the oil law in Parliament on the 1st of July. It gives us an opportunity to create a legal environment for drawing investment in the non-traditional fuel sector, like oil shale or coal bed methane gas. We simultaneously approved the draft on customs tax and value-added tax exemption for contractors in the construction phase to support exploration, mining and processing in the traditional and non-traditional fuel sectors. The oil law became more clear, flexible and able to compete at an international level, which allows us to increase investment, enrich oil resources and increase economic benefits.”
Representatives from major corporations like Rosneft, Petrochina, British Gas, Sinopec and State Oil, and over 300 delegates from other companies and organizations operating in the oil sector attended the forum.
The Office of Media and Public Relations of the Government reports that only three of thirty oil exploration fields have been explored in Mongolia. Their resources are estimated to be more than 332.6 thousand tons, but 43.3 thousand tons was calculated as a recoverable reserve. The coal bed methane gas reserves are predicted to be around 3.2 trillion cubic meters, but reserves of oil shale are said to be 788 billion tons.

12-year-old dies in police car crash

By M. Zoljargal
September 11 (UB Post) A 12-year-old girl was killed by a police car on Wednesday morning at Tavan Buudal road in Sukhbaatar District.
The victim was on her way to school and jaywalked the road when the police car, registered in Selenge Province’s Saikhan soum, hit her while driving on the opposite lane with emergency lights and siren on as the other lane was packed.
Saikhan Soum Police Department commented, “We have received a report that our police officer had a car crash in Ulaanbaatar while he was on appointment.”
The ambulance immediately arrived at the scene but the victim died on impact.
The Traffic Crime Registration and Investigation Division started interrogation of the police who drove the vehicle. “I was driving in the opposite lane at 65 kilometers per hour. I tried but couldn’t stop the car when the child appeared from the side all of a sudden,” he said, during interview.
The road on which the accident occurred previously had segregation fences to prevent jaywalking, but some of the fences were stolen or damaged.
There was a pedestrian crossing 40 meters away from the accident scene, reported the prosecutors’ offices.
Unuudur daily also received a report that a 19-year-old girl was killed when a heavy duty truck with faulty brakes hit and ran over a ger. The truck was being parked on a steep road when the brakes broke down due to the driver’s poor safety regulations practice.
Link to article

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