Mongolian Economy and Finance

Mongolia reached a settlement over an arbitration award requiring the government to pay $100 million to Canada-based Khan Resources, according to Reuters.

The Mongolian government will pay Canada’s Khan Resources Inc. to resolve a seven-year dispute over lost mining licenses, signaling a new willingness to attract foreign investment.

TORONTO, ONTARIO--(Marketwired - Mar 6, 2016) - Khan Resources Inc. ("Khan" or the "Company") (CSE:KRI) announces that Khan and the Government of Mongolia have signed an agreement whereby all outstanding matters pursuant to the international arbitration award received by Khan shall be resolved and terminated. The Finance Minister of Mongolia, Mr. Bolor Bayarbaatbar, said, "The Government of Mongolia and Khan Resources Inc. successfully reached an agreement that effectively resolves all outstanding issues in regards to the international arbitration awards.

On July 31, 2014, the High Court in London gave judgment in favour of JSC Ulaanbaatar Railways (“UBR”), the Mongolian national railway company, in its $55 million jurisdiction battle against Standard Bank PLC.

HONG KONG, CHINA--(Marketwired - June 24, 2014) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) (the "Company") previously announced on May 13, 2014 that the charges for alleged violation of Mongolian tax law had been officially filed against the Company's three (3) former employees and against the Company's Mongolian subsidiary SouthGobi Sands LLC ("SGS") as "civil defendant".

The trial of a tax investigation case into SouthGobi Resources Ltd. (SGQ) and three of its former employees is set to begin in Mongolia next week.

NEW YORK (Reuters) - A paleontologist who prosecutors called a "a one-man black market in prehistoric fossils" was sentenced on Tuesday to three months in prison after he admitted to having schemed to smuggle dinosaur remains out of Mongolia.

A father who kept his son in Singapore with his parents has been ordered to return to him to the UK.

Mongolian environmental activist Tsetsegee Munkhbayar, who was awarded the Goldman Environmental Prize in 2007 for his campaign to protect water sources from mining pollution, was sentenced on Jan. 21 together with four associates to 21 years in prison for “acts of terrorism.”

SouthGobi Resources Ltd. ( TSX: T.SGQ , Stock Forum ) says it understands that on or around January 6, 2014, Canadian law firm Siskinds LLP filed a proposed securities class action against the company, certain of its current and former senior officers and directors, and its former auditors.

S.Gantuya, who was dismissed from her position at Oyu Tolgoi LLC without justification after submitting complaints about salary discrimination to her administrators in October 2012, successfully won the final trial against Oyu Tolgoi in Supreme Court on September 12.

Former employee of Oyu Tolgoi LLC and younger sister of MP S.Ganbaatar, S.Gantuya, will soon take part in the final trial session in a case against Oyu Tolgoi LLC administrators to end discrimination towards Mongolian workers.

The City Court discussed an appeal by former MIAT directors who were sentenced for money laundering and conspiracy involving large amount of money under the cover of a War Risk Insurance.

Khan Resources Inc. (Khan) has decided not to appeal to the Supreme Court of Canada a lower-court decision to dismiss its efforts to validate, substitute, or dispense with service of its claim against Russian uranium producer Atomredmetzoloto (ARMZ), according to a statement released by Khan Friday.

A Malaysian court has overturned the convictions of two police officers for the murder of a Mongolian woman linked to a senior political aide.

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.

The Capital City Court revised the case against D. Batkhuyag, the former chairman of the Mineral Resources Authority and four other offenders, The Capital City Court changed the Primary court decision in the courtroom of detention center 461 of the Court Decision Enforcement General Office on Monday April 15th.

Dismissed staff member S.Gantuya wins unfair dismissal case against Oyutolgoi LLC at Sukhbaatar District Court on February 27th.

A hearing on claims made by residents of Gurvanbulag sum in Bayankhongor aimag and the United Movement of Mongolian Rivers and Lakes (UMMRL) started in Sukhbaatar District Court on Tuesday February 26th but postponed until April.

The Battuul case, where a woman brought her teacher from the USA and shot him on a mountain will be judged soon.