The document summarizes news from the Business Council of Mongolia newsletter dated January 11, 2013. It covers several topics:
- In the business section, it discusses the completion of the Oyu Tolgoi mine's airport, KFC's plans to open locations in Mongolia, and Mongolian Growth Group listing on the TSXV exchange.
- The economy section notes Japan and Mongolia signing an emissions reduction pact, planned infrastructure developments, and forecasts for Mongolia's economic growth in 2013.
- The politics section covers several proposed laws and investment discussions between Mongolia and other countries.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories: Khan Bank received an $8 million EBRD loan to finance small and medium businesses; Golomt Bank signed agreements with Hungarian and Chinese banks to provide financing for trade; the Mongolian Stock Exchange is negotiating to use Bloomberg's terminal system for bond trades and took legal action against 196 companies that failed to file reports; Rio Tinto's CEO has helped steer the company to recovery as it approaches interim results and considers options for generating cash going forward including potential growth projects.
The document provides a summary of business and economic news from Mongolia in its Issue 336 dated August 1, 2014. Some of the key highlights include:
- Turquoise Hill announces the sale of a 29.95% stake in SouthGobi Resources to a Hong Kong company.
- Erdenes TT partners with Korean and Mongolian companies to develop a coal-to-methane gas facility at Tavan Tolgoi.
- Xanadu Mines expands drilling at its Altan Tolgoi copper-gold project, intersecting additional mineralization.
The document summarizes business news from Mongolia. It discusses several topics:
- Oyu Tolgoi defended its investment agreement as fair and valid, saying it benefits Mongolia. However, some lawmakers want to increase Mongolia's stake in the project.
- Despite calls to rework OT's agreement, investors increased shares in the project's main partner, shrugging off political risks.
- Prophecy Coal submitted a power purchase agreement proposal for its mine-mouth power plant project.
- Erdene Resources plans to split its coal and Mongolian mineral projects into separate companies to unlock shareholder value.
- Terra Energy is set to begin mining at its South Gobi coal project.
The Business Council of Mongolia NewsWire issue 300 provides news highlights from Mongolian business, economic, and political realms. Key business stories include SouthGobi Resources restating financial results for the past 3 years due to revenue recognition errors, and several mining and exploration companies announcing new partnerships, investments, and projects. Economic reports touch on recommendations to tighten policies, investment rules spurring mining development, and Mongolia gearing up for challenges in the mining sector. Political headlines cover initiatives such as joining the Open Government Partnership and establishing cross-border reserves with Russia.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. It reports that Erdenes Oyu Tolgoi has said progress is being made to resolve issues around financing the expansion of the Oyu Tolgoi copper and gold mine. It also reports that Turquoise Hill Resources plans to raise up to $2.4 billion through a rights offering to repay funding from Rio Tinto for the Oyu Tolgoi mine. Additionally, it discusses a US law firm investigating claims on behalf of minority shareholders of Turquoise Hill Resources.
The document summarizes news from the Business Council of Mongolia newsletter. It reports on several stories related to Mongolia's mining and business sector: Turquoise Hill Resources' stock dropped 26% as rights to purchase new shares began trading, following the company's $2.4 billion rights offering to repay debt; Kincora Copper announced a $6.6 million write-down after Mongolia revoked 106 mineral exploration licenses, including two held by Kincora; Aspire Mining signed memoranda for potential purchase of 3.3 million tons per year of coking coal from its Ovoot project in Mongolia by Russian buyers.
This summary provides the key details from the Business Council of Mongolia newsletter:
- Mongolia wants to resolve its mine dispute with Rio Tinto over cost overruns at the Oyu Tolgoi mine by early 2014 in order to proceed with the mine's expansion.
- Turquoise Hill Resources, the operator of Oyu Tolgoi, will proceed with a $2.4 billion rights offer to repay credit facilities used for the mine's construction.
- Permafrost at the planned site of Power Plant No. 5 poses new challenges as construction is set to begin in 2015, increasing costs for the project's consortium.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key stories covered include:
- Oyu Tolgoi exported 140,000 tons of copper concentrate in the first half of 2014.
- Moody's downgraded the credit ratings of three Mongolian banks, Khan Bank, XacBank, and Trade and Development Bank, following Mongolia's sovereign downgrade.
- Trade and Development Bank pulled a planned US dollar bond offering due to financial market turmoil in Europe.
- BDSec JSC received approval to issue 6 million new shares in a rights offering to raise about $2.5 million.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories: Khan Bank received an $8 million EBRD loan to finance small and medium businesses; Golomt Bank signed agreements with Hungarian and Chinese banks to provide financing for trade; the Mongolian Stock Exchange is negotiating to use Bloomberg's terminal system for bond trades and took legal action against 196 companies that failed to file reports; Rio Tinto's CEO has helped steer the company to recovery as it approaches interim results and considers options for generating cash going forward including potential growth projects.
The document provides a summary of business and economic news from Mongolia in its Issue 336 dated August 1, 2014. Some of the key highlights include:
- Turquoise Hill announces the sale of a 29.95% stake in SouthGobi Resources to a Hong Kong company.
- Erdenes TT partners with Korean and Mongolian companies to develop a coal-to-methane gas facility at Tavan Tolgoi.
- Xanadu Mines expands drilling at its Altan Tolgoi copper-gold project, intersecting additional mineralization.
The document summarizes business news from Mongolia. It discusses several topics:
- Oyu Tolgoi defended its investment agreement as fair and valid, saying it benefits Mongolia. However, some lawmakers want to increase Mongolia's stake in the project.
- Despite calls to rework OT's agreement, investors increased shares in the project's main partner, shrugging off political risks.
- Prophecy Coal submitted a power purchase agreement proposal for its mine-mouth power plant project.
- Erdene Resources plans to split its coal and Mongolian mineral projects into separate companies to unlock shareholder value.
- Terra Energy is set to begin mining at its South Gobi coal project.
The Business Council of Mongolia NewsWire issue 300 provides news highlights from Mongolian business, economic, and political realms. Key business stories include SouthGobi Resources restating financial results for the past 3 years due to revenue recognition errors, and several mining and exploration companies announcing new partnerships, investments, and projects. Economic reports touch on recommendations to tighten policies, investment rules spurring mining development, and Mongolia gearing up for challenges in the mining sector. Political headlines cover initiatives such as joining the Open Government Partnership and establishing cross-border reserves with Russia.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. It reports that Erdenes Oyu Tolgoi has said progress is being made to resolve issues around financing the expansion of the Oyu Tolgoi copper and gold mine. It also reports that Turquoise Hill Resources plans to raise up to $2.4 billion through a rights offering to repay funding from Rio Tinto for the Oyu Tolgoi mine. Additionally, it discusses a US law firm investigating claims on behalf of minority shareholders of Turquoise Hill Resources.
The document summarizes news from the Business Council of Mongolia newsletter. It reports on several stories related to Mongolia's mining and business sector: Turquoise Hill Resources' stock dropped 26% as rights to purchase new shares began trading, following the company's $2.4 billion rights offering to repay debt; Kincora Copper announced a $6.6 million write-down after Mongolia revoked 106 mineral exploration licenses, including two held by Kincora; Aspire Mining signed memoranda for potential purchase of 3.3 million tons per year of coking coal from its Ovoot project in Mongolia by Russian buyers.
This summary provides the key details from the Business Council of Mongolia newsletter:
- Mongolia wants to resolve its mine dispute with Rio Tinto over cost overruns at the Oyu Tolgoi mine by early 2014 in order to proceed with the mine's expansion.
- Turquoise Hill Resources, the operator of Oyu Tolgoi, will proceed with a $2.4 billion rights offer to repay credit facilities used for the mine's construction.
- Permafrost at the planned site of Power Plant No. 5 poses new challenges as construction is set to begin in 2015, increasing costs for the project's consortium.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key stories covered include:
- Oyu Tolgoi exported 140,000 tons of copper concentrate in the first half of 2014.
- Moody's downgraded the credit ratings of three Mongolian banks, Khan Bank, XacBank, and Trade and Development Bank, following Mongolia's sovereign downgrade.
- Trade and Development Bank pulled a planned US dollar bond offering due to financial market turmoil in Europe.
- BDSec JSC received approval to issue 6 million new shares in a rights offering to raise about $2.5 million.
The document provides news highlights from the Business Council of Mongolia covering business, economic, and political topics. In the business section, it summarizes that Ivanhoe Mines began trading rights for its $1.8 billion rights offering, Singapore's wealth fund acquired a 5.5% stake in Ivanhoe Mines, and Altan Rio intersected high grades of gold at its exploration project. It also mentions officials planning to inspect Areva's uranium project and Khan Bank obtaining $94 million in financing.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key points covered in the newsletter include:
- Negotiations between Rio Tinto and the Mongolian government over the Oyu Tolgoi mine are expected to be resolved by September.
- A new free-trade zone began registering companies in Selenge Province.
- Several companies announced expansion projects, new investments, and equipment orders.
- Mongolia's state-owned bank and airline both announced plans to add new planes to their fleets.
- Mongolia's parliament approved an economic stimulus plan and debated infrastructure investment.
- First quarter profits dropped for Canadian miner Center
The document summarizes the latest news from the Business Council of Mongolia newsletter. It discusses several business, economic, and political stories in Mongolia, including the government's plans to resolve disputes over mining licenses, revise mineral laws to attract investment, and proposals to allow gambling on horse racing. It also provides summaries of presentations given at the most recent BCM meeting on waste management initiatives, public opinion polling, and Peabody Energy's energy advocacy campaign.
This newsletter from the Business Council of Mongolia provides an overview of recent Mongolian business and economic news. It discusses developments at the Oyu Tolgoi mine, including its 2014 budget approval and a power deal. It also reports on mining, exploration and financing deals involving Tavan Tolgoi, Shenhua, Erdenet, and several junior miners. On the economic front, it mentions inflation, currency rates and plans to allocate part of the budget to construction. For politics, it notes progress on a minerals policy and cooperation between ministries. The newsletter recaps the previous month's BCM meeting and welcomes seven new member companies to the Business Council of Mongolia.
The document is a newsletter from the Business Council of Mongolia providing summaries of recent news from Mongolia. It includes sections on business, economy, and politics. Some of the top stories include Rio Tinto pledging to invest $250-300 million in an underground section of the Oyu Tolgoi mine, Mongolia agreeing to pay a $104 million arbitration award to Khan Resources, and China partnering with a Mongolian company to construct a new 1,000 km trans-Mongolia highway by 2018.
The document summarizes news from the Business Council of Mongolia newsletter. Key points include:
- Eznis Airways suspended operations due to financial losses.
- Centerra Gold's Boroo mine began repairs to its ball mill which will reduce processing capacity by 50% for two weeks.
- Xanadu Mines will acquire a 90% stake in the Kharmagtai copper-gold project for $14 million.
- A new cement plant utilizing dry processing opened in Selenge aimag with the capacity to produce 1 million tons annually.
- Khan Bank registered with the US IRS for tax compliance on accounts of US citizen account holders.
The document summarizes business and economic news from Mongolia reported in the Business Council of Mongolia NewsWire on June 24, 2011. Key highlights include:
- The Mongolian government suspended PetroChina's crude oil transport along a gravel road for various violations.
- Erdene Resource Development took investors on a tour of its mining operation sites in Mongolia.
- Mongolia Growth Group received an insurance license under the name Mandal General to underwrite property and casualty insurance in Mongolia.
- Several mining and exploration companies including Voyager Resources, Mongolia Energy Corporation, and Petro Matad provided updates on their drilling, mining, and exploration activities in Mongolia.
The document summarizes business and economic news from Mongolia reported in Issue 266 of the Business Council of Mongolia NewsWire dated March 22, 2013. Key highlights include:
- Mongolian officials tried to calm fears that disagreements between the government and Rio Tinto over the Oyu Tolgoi mine would delay its planned June start of commercial production.
- Rio Tinto paid nearly $12 billion in taxes globally in 2012, including $280 million in Mongolia.
- Rio Tinto attracted nearly double the $2 billion sought from commercial banks for project financing of Oyu Tolgoi, securing around $3.65 billion committed so far.
- Several mining companies including Newera Resources
The document summarizes recent news from Mongolia across various sectors including business, economy, politics, and tourism. Some key highlights include:
1) Major mining projects in Mongolia like Oyu Tolgoi and Tavan Tolgoi have started development and operations, while several exploration companies are reporting promising early results.
2) Mongolia is taking steps to develop its oil refining capacity to reduce dependence on imports by starting construction on several new refineries.
3) The tourism industry in Mongolia is seeing a shift towards more luxury camping experiences offering travelers a chance to live like nomads in remote areas of the country.
4) Russia has launched a new tourist route on the Trans-
The document summarizes the latest news from the Business Council of Mongolia newsletter. It discusses several business and economic stories including Rio Tinto cutting jobs at a Mongolian copper mine, Rosneft signing agreements in Mongolia, and the Mongolian government funding cement plant development. It also provides recaps of the council's monthly meeting and presentations given on the Mongolian government's economic stimulus plan and opportunities to privatize state assets.
This document provides a summary of business, economic, and political news from Mongolia in its Business Council of Mongolia NewsWire newsletter. It highlights several major mining and infrastructure projects in Mongolia, including progress on the Oyu Tolgoi mine and issues around negotiations between Ivanhoe Mines and Rio Tinto. It also discusses Mongolia's economy, including developments regarding the Tavan Tolgoi coal mine, inflation, bond sales, and relations with China. On the political front, it mentions meetings between Mongolian and Chinese leaders and parliamentary discussions around corruption issues.
The document is a newsletter from the Business Council of Mongolia providing news and updates on business and economic matters in Mongolia. It announces that the newsletter will be on hiatus for the Tsagaan Sar holiday and then resume on March 2nd. It then provides highlights on various business, economic and political stories in Mongolia, including updates on mining companies, infrastructure developments, government policies and meetings/events from the Business Council of Mongolia.
The document summarizes business and economic news from Mongolia. It reports that Khan Resources received notice from Mongolia's State Property Committee to increase state ownership of its uranium project to 51%. It also reports that Centerra Gold forecasts gold production of 640,000-700,000 ounces in 2010. Additionally, it mentions that Ivanhoe Mines plans to spend $758 million on development work at its Oyu Tolgoi copper-gold mine in 2010.
The document summarizes business and economic news from Mongolia reported in Issue 180 of the Business Council of Mongolia NewsWire dated August 12, 2011. Several mining companies had positive developments, including SouthGobi achieving record sales and revenue from coal mining. Voyager Resources announced a major new copper discovery. Guildford Coal acquired additional land and aims to begin coal production within a year. Other news included MEC completing a road to transport coal to China, Petro Matad drilling exploration wells, and Shivee Ovoo building Mongolia's first coal drying factory. The economy news discussed proposals for the Tavan Tolgoi coal project, China raising railway freight rates, and the first new listing on the Mongolian stock
The document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia. It includes summaries of multiple news stories related to Mongolian companies and mining projects, economic indicators and foreign investment in Mongolia, and political developments. It also announces an upcoming meeting of the Business Council of Mongolia that will feature presentations from the U.S. Ambassador, the CEO of a Mongolian investment company, and the chairman of Mongolia's National Development and Innovation Committee.
The document is a newsletter from the Business Council of Mongolia that provides news highlights from Mongolia in the areas of business, economy, and politics. Some of the key business stories discussed include Tavan Tolgoi expanding its coal wash plant, MMC receiving payment for transferring road assets, bank profits increasing in 2013, and Guildford Coal receiving approval to begin operations at its Baruun Noyon Uul mine. Economic highlights cover topics like the central bank maintaining interest rates, a rise in fuel prices, and the government distributing wool bonuses. Politics updates mention parliament addressing a rail gauge dispute and Mongolia expressing intent to join the Antarctic Treaty.
- The document summarizes business and economic news from Mongolia. It reports that Turquoise Hill Resources and Rio Tinto expect to sign a $4 billion financing plan by the end of June to develop the second phase of the Oyu Tolgoi mine, while Mongolia plans to begin investigating Oyu Tolgoi's tax and contractual compliance. It also mentions that Erdenes Tavan Tolgoi will begin mining the West Tsankhi coal area and potentially partner with foreign miners, and that Japanese companies will build Mongolia's second international airport.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key stories covered include:
- Oyu Tolgoi mine is confident disputes with the Mongolian government can be resolved to allow development of the underground mine to continue.
- Turquoise Hill Resources completed the divestment of its interest in Inova Resources for $85 million.
- Over 100 exploration licenses were revoked by Mongolia as part of an investigation into corruption, concerning foreign and domestic mining investors.
- Prophecy Coal restarted operations at its Ulaan Ovoo coal mine, hiring staff and recalling equipment to mine 30,000-50,000 tons per
The document summarizes business and economic news from Mongolia. It discusses several mining projects and disputes between Rio Tinto and the Mongolian government over profits from the Oyu Tolgoi copper mine. It also mentions Anglo American entering the Mongolia market, restrictions placed on SouthGobi's assets, and presentations made at the Coal Mongolia 2013 forum calling for cooperation between the public and private sectors in Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several business and economic stories including Turquoise Hill posting 2013 production numbers and guidance for 2014, FeOre selling its iron ore stake for $56.7 million, Merex planning an IPO of 40% of its shares on the Mongolian stock exchange, Xanadu Mines completing the acquisition of the Oyut Ulaan project, and MIAT planning an IPO with assistance from an international investment firm. It also previews the agenda for the upcoming BCM monthly meeting.
The document discusses value added investment opportunities in Mongolia. It highlights opportunities in infrastructure like power generation through wind, coal gas and solar as well as transportation infrastructure like rail, road, and air. Specific projects mentioned include railway development by 2015 and value added opportunities from mining in Sainshand. The financial sector in Mongolia also offers investment opportunities as the banking system has been strengthened and deposits have risen following the economic downturn.
- The document provides a summary of business and economic news from Mongolia.
- It discusses topics such as Turquoise Hill resuming copper shipments to China from the Oyu Tolgoi mine, the Mongolian government negotiating a new partnership for the Tavan Tolgoi coal mine with China, and several Mongolian banks and companies undertaking new projects and partnerships.
- It also mentions economic indicators in Mongolia such as inflation rates and currency exchange rates.
The document provides news highlights from the Business Council of Mongolia covering business, economic, and political topics. In the business section, it summarizes that Ivanhoe Mines began trading rights for its $1.8 billion rights offering, Singapore's wealth fund acquired a 5.5% stake in Ivanhoe Mines, and Altan Rio intersected high grades of gold at its exploration project. It also mentions officials planning to inspect Areva's uranium project and Khan Bank obtaining $94 million in financing.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key points covered in the newsletter include:
- Negotiations between Rio Tinto and the Mongolian government over the Oyu Tolgoi mine are expected to be resolved by September.
- A new free-trade zone began registering companies in Selenge Province.
- Several companies announced expansion projects, new investments, and equipment orders.
- Mongolia's state-owned bank and airline both announced plans to add new planes to their fleets.
- Mongolia's parliament approved an economic stimulus plan and debated infrastructure investment.
- First quarter profits dropped for Canadian miner Center
The document summarizes the latest news from the Business Council of Mongolia newsletter. It discusses several business, economic, and political stories in Mongolia, including the government's plans to resolve disputes over mining licenses, revise mineral laws to attract investment, and proposals to allow gambling on horse racing. It also provides summaries of presentations given at the most recent BCM meeting on waste management initiatives, public opinion polling, and Peabody Energy's energy advocacy campaign.
This newsletter from the Business Council of Mongolia provides an overview of recent Mongolian business and economic news. It discusses developments at the Oyu Tolgoi mine, including its 2014 budget approval and a power deal. It also reports on mining, exploration and financing deals involving Tavan Tolgoi, Shenhua, Erdenet, and several junior miners. On the economic front, it mentions inflation, currency rates and plans to allocate part of the budget to construction. For politics, it notes progress on a minerals policy and cooperation between ministries. The newsletter recaps the previous month's BCM meeting and welcomes seven new member companies to the Business Council of Mongolia.
The document is a newsletter from the Business Council of Mongolia providing summaries of recent news from Mongolia. It includes sections on business, economy, and politics. Some of the top stories include Rio Tinto pledging to invest $250-300 million in an underground section of the Oyu Tolgoi mine, Mongolia agreeing to pay a $104 million arbitration award to Khan Resources, and China partnering with a Mongolian company to construct a new 1,000 km trans-Mongolia highway by 2018.
The document summarizes news from the Business Council of Mongolia newsletter. Key points include:
- Eznis Airways suspended operations due to financial losses.
- Centerra Gold's Boroo mine began repairs to its ball mill which will reduce processing capacity by 50% for two weeks.
- Xanadu Mines will acquire a 90% stake in the Kharmagtai copper-gold project for $14 million.
- A new cement plant utilizing dry processing opened in Selenge aimag with the capacity to produce 1 million tons annually.
- Khan Bank registered with the US IRS for tax compliance on accounts of US citizen account holders.
The document summarizes business and economic news from Mongolia reported in the Business Council of Mongolia NewsWire on June 24, 2011. Key highlights include:
- The Mongolian government suspended PetroChina's crude oil transport along a gravel road for various violations.
- Erdene Resource Development took investors on a tour of its mining operation sites in Mongolia.
- Mongolia Growth Group received an insurance license under the name Mandal General to underwrite property and casualty insurance in Mongolia.
- Several mining and exploration companies including Voyager Resources, Mongolia Energy Corporation, and Petro Matad provided updates on their drilling, mining, and exploration activities in Mongolia.
The document summarizes business and economic news from Mongolia reported in Issue 266 of the Business Council of Mongolia NewsWire dated March 22, 2013. Key highlights include:
- Mongolian officials tried to calm fears that disagreements between the government and Rio Tinto over the Oyu Tolgoi mine would delay its planned June start of commercial production.
- Rio Tinto paid nearly $12 billion in taxes globally in 2012, including $280 million in Mongolia.
- Rio Tinto attracted nearly double the $2 billion sought from commercial banks for project financing of Oyu Tolgoi, securing around $3.65 billion committed so far.
- Several mining companies including Newera Resources
The document summarizes recent news from Mongolia across various sectors including business, economy, politics, and tourism. Some key highlights include:
1) Major mining projects in Mongolia like Oyu Tolgoi and Tavan Tolgoi have started development and operations, while several exploration companies are reporting promising early results.
2) Mongolia is taking steps to develop its oil refining capacity to reduce dependence on imports by starting construction on several new refineries.
3) The tourism industry in Mongolia is seeing a shift towards more luxury camping experiences offering travelers a chance to live like nomads in remote areas of the country.
4) Russia has launched a new tourist route on the Trans-
The document summarizes the latest news from the Business Council of Mongolia newsletter. It discusses several business and economic stories including Rio Tinto cutting jobs at a Mongolian copper mine, Rosneft signing agreements in Mongolia, and the Mongolian government funding cement plant development. It also provides recaps of the council's monthly meeting and presentations given on the Mongolian government's economic stimulus plan and opportunities to privatize state assets.
This document provides a summary of business, economic, and political news from Mongolia in its Business Council of Mongolia NewsWire newsletter. It highlights several major mining and infrastructure projects in Mongolia, including progress on the Oyu Tolgoi mine and issues around negotiations between Ivanhoe Mines and Rio Tinto. It also discusses Mongolia's economy, including developments regarding the Tavan Tolgoi coal mine, inflation, bond sales, and relations with China. On the political front, it mentions meetings between Mongolian and Chinese leaders and parliamentary discussions around corruption issues.
The document is a newsletter from the Business Council of Mongolia providing news and updates on business and economic matters in Mongolia. It announces that the newsletter will be on hiatus for the Tsagaan Sar holiday and then resume on March 2nd. It then provides highlights on various business, economic and political stories in Mongolia, including updates on mining companies, infrastructure developments, government policies and meetings/events from the Business Council of Mongolia.
The document summarizes business and economic news from Mongolia. It reports that Khan Resources received notice from Mongolia's State Property Committee to increase state ownership of its uranium project to 51%. It also reports that Centerra Gold forecasts gold production of 640,000-700,000 ounces in 2010. Additionally, it mentions that Ivanhoe Mines plans to spend $758 million on development work at its Oyu Tolgoi copper-gold mine in 2010.
The document summarizes business and economic news from Mongolia reported in Issue 180 of the Business Council of Mongolia NewsWire dated August 12, 2011. Several mining companies had positive developments, including SouthGobi achieving record sales and revenue from coal mining. Voyager Resources announced a major new copper discovery. Guildford Coal acquired additional land and aims to begin coal production within a year. Other news included MEC completing a road to transport coal to China, Petro Matad drilling exploration wells, and Shivee Ovoo building Mongolia's first coal drying factory. The economy news discussed proposals for the Tavan Tolgoi coal project, China raising railway freight rates, and the first new listing on the Mongolian stock
The document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia. It includes summaries of multiple news stories related to Mongolian companies and mining projects, economic indicators and foreign investment in Mongolia, and political developments. It also announces an upcoming meeting of the Business Council of Mongolia that will feature presentations from the U.S. Ambassador, the CEO of a Mongolian investment company, and the chairman of Mongolia's National Development and Innovation Committee.
The document is a newsletter from the Business Council of Mongolia that provides news highlights from Mongolia in the areas of business, economy, and politics. Some of the key business stories discussed include Tavan Tolgoi expanding its coal wash plant, MMC receiving payment for transferring road assets, bank profits increasing in 2013, and Guildford Coal receiving approval to begin operations at its Baruun Noyon Uul mine. Economic highlights cover topics like the central bank maintaining interest rates, a rise in fuel prices, and the government distributing wool bonuses. Politics updates mention parliament addressing a rail gauge dispute and Mongolia expressing intent to join the Antarctic Treaty.
- The document summarizes business and economic news from Mongolia. It reports that Turquoise Hill Resources and Rio Tinto expect to sign a $4 billion financing plan by the end of June to develop the second phase of the Oyu Tolgoi mine, while Mongolia plans to begin investigating Oyu Tolgoi's tax and contractual compliance. It also mentions that Erdenes Tavan Tolgoi will begin mining the West Tsankhi coal area and potentially partner with foreign miners, and that Japanese companies will build Mongolia's second international airport.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key stories covered include:
- Oyu Tolgoi mine is confident disputes with the Mongolian government can be resolved to allow development of the underground mine to continue.
- Turquoise Hill Resources completed the divestment of its interest in Inova Resources for $85 million.
- Over 100 exploration licenses were revoked by Mongolia as part of an investigation into corruption, concerning foreign and domestic mining investors.
- Prophecy Coal restarted operations at its Ulaan Ovoo coal mine, hiring staff and recalling equipment to mine 30,000-50,000 tons per
The document summarizes business and economic news from Mongolia. It discusses several mining projects and disputes between Rio Tinto and the Mongolian government over profits from the Oyu Tolgoi copper mine. It also mentions Anglo American entering the Mongolia market, restrictions placed on SouthGobi's assets, and presentations made at the Coal Mongolia 2013 forum calling for cooperation between the public and private sectors in Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several business and economic stories including Turquoise Hill posting 2013 production numbers and guidance for 2014, FeOre selling its iron ore stake for $56.7 million, Merex planning an IPO of 40% of its shares on the Mongolian stock exchange, Xanadu Mines completing the acquisition of the Oyut Ulaan project, and MIAT planning an IPO with assistance from an international investment firm. It also previews the agenda for the upcoming BCM monthly meeting.
The document discusses value added investment opportunities in Mongolia. It highlights opportunities in infrastructure like power generation through wind, coal gas and solar as well as transportation infrastructure like rail, road, and air. Specific projects mentioned include railway development by 2015 and value added opportunities from mining in Sainshand. The financial sector in Mongolia also offers investment opportunities as the banking system has been strengthened and deposits have risen following the economic downturn.
- The document provides a summary of business and economic news from Mongolia.
- It discusses topics such as Turquoise Hill resuming copper shipments to China from the Oyu Tolgoi mine, the Mongolian government negotiating a new partnership for the Tavan Tolgoi coal mine with China, and several Mongolian banks and companies undertaking new projects and partnerships.
- It also mentions economic indicators in Mongolia such as inflation rates and currency exchange rates.
- SouthGobi Energy Resources announced its 2009 financial results and operations review. Key highlights included selling 1.33 million tonnes of coal from its Ovoot Tolgoi mine, establishing proven and probable reserves at Ovoot Tolgoi, and initial resources at the new Soumber deposit.
- The company completed a $500 million financing from China Investment Corporation to support expansion. It also listed on the Toronto Stock Exchange and completed a global equity offering.
- Resources were updated at Ovoot Tolgoi and initial resources reported for the Soumber deposit. Senior management changes were announced. The company also divested its interest in an Indonesia coal project.
- The boss of Rio Tinto insisted that the dispute with China over copper exports from Mongolia's Oyu Tolgoi mine would be resolved shortly, saying such issues were "bumps in the road" that the company was used to dealing with through cooperation with authorities.
- Mongolia has repaid over three-quarters of its debt to Chalco related to the Tavan Tolgoi coal mine, resuming normal mining operations after negotiations to double the price it sells coal to its distributor.
- An investigation into Mongolia's Development Bank found mismanagement of funds and financing of projects not approved by government or parliament, putting its cash at risk by concentrating holdings in just two banks.
This document provides information on first aid and common health risks in the workplace. It outlines how to treat injuries like wounds, burns, sprains and broken bones. It also covers health emergencies such as fainting, seizures, strokes, heart attacks, nosebleeds and choking. Additionally, it discusses office-specific health risks including eyestrain from excessive computer use, neck and back problems from poor posture, and obesity due to sedentary jobs. The goal is to educate about first aid protocols and promoting worker health and safety.
Cameron McRae, President and CEO of Oyu Tolgoi, discusses the promise of the Oyu Tolgoi copper and gold mine in Mongolia. The mine is expected to produce over 1.5 million tons of copper and over 1 million ounces of gold annually at peak production. Oyu Tolgoi will become one of the largest copper mines in the world and will be a major driver of Mongolia's economy for decades. However, continued development is needed for Oyu Tolgoi to reach its full potential and fulfill its promise to Mongolia.
- Mongolia's Commodities Exchange plans to partner with the Toronto Stock Exchange to receive technical assistance and training as it establishes a mineral exchange.
- Mövenpick Hotels & Resorts announced new hotels in Mongolia, Turkey and Morocco, including a 250-room hotel in Ulaanbaatar slated to open in 2018.
- A fire at a PetroChina oil tanker facility in Dornod Aimag, Mongolia killed two Chinese workers and hospitalized one Mongolian, halting operations at the site.
The document provides information about the initial public offering of Merex JSC, a concrete manufacturer in Mongolia. Merex JSC is offering 26 million common shares at a price of 100 Mongolian tugriks per share, raising a total of 6.5 billion tugriks. The IPO is being led by Standard Investment LLC. Projections estimate that Merex JSC will have sales of 14.8 billion tugriks in 2014 growing to 22.2 billion tugriks in 2015.
The document discusses promoting 5S activities and the 3Rs (reduce, reuse, recycle) in Kitakyushu City. It describes 5S as a method used in manufacturing to organize and clean the workplace. The document advocates practicing 5S at home and in the community to beautify areas and improve moral sense. It encourages starting by separating garbage and promoting the 3Rs in schools, then changing behaviors and expanding the program to other schools.
The document is a newsletter providing summaries of business and economic news from Mongolia. Key points include:
- Oyu Tolgoi mine has cleared the last hurdle to beginning production by signing an agreement to purchase power from China. However, the Mongolian government still wants to discuss details of the investment agreement for the mine.
- Prophecy Coal may stop mining operations at its Ulaan Ovoo mine if the government does not increase what it is willing to pay, as the company says it is currently selling coal at a loss.
- A joint venture between Newcom Group and Soft Bank Energy called Clean Energy Asia has been established with the goal of developing renewable energy projects and an "
The IMF Stand-By Arrangement provides Mongolia with an 18-month loan of SDR 153.3 million (US$243 million) to help address its economic crisis caused by falling copper prices and the global recession. In exchange for IMF financing, Mongolia agreed to an economic program involving fiscal austerity, exchange rate flexibility, monetary tightening, and banking reforms. Initial results are positive, with reserves and inflation improving while policies are implemented, but growth is slower than expected. Continued commitment to reforms and a recovery in copper prices could help Mongolia restore confidence and stability.
- The document summarizes news from the Business Council of Mongolia newsletter, covering business, economic, and political headlines.
- In business news, Petro Matad reevaluated its oil exploration expectations at Davsan Tolgoi after tests found no commercial oil. Oyu Tolgoi and Tavan Tolgoi will have separate power plants to supply their mining operations. Khan Bank announced management changes including a new acting CEO.
- Economic headlines included Mongolia being vulnerable to economic issues in western countries and falling stock prices due to slower Chinese growth.
- In politics, a new bill proposed distributing shares of Erdenes Tavan Tolgoi to citizens, which some business leaders opposed.
Golomt Bank is a leading Mongolian commercial bank that has attracted multiple strategic equity investments from international investors. It has a dominant market share in key business areas and has experienced tremendous growth in loans, deposits, and profits in recent years. Golomt Bank maintains prudent capital and liquidity positions to support its continued expansion.
Kincora Copper is exploring two copper-gold projects, Bronze Fox and Tourmaline Hills, in Mongolia. They plan to define an initial resource at Bronze Fox in 2012 through further drilling and exploration. Bronze Fox has shown significant near-surface copper and gold mineralization over a large 40km2 area, with some high-grade intercepts. Kincora's exploration will aim to expand known mineralization and define open pit resource potential while continuing to search for deeper higher-grade zones.
- The document summarizes news from Mongolia's Business Council of Mongolia newsletter. It covers business, economic, and political news highlights from Mongolia.
- On the business front, Mongolia changed rules to encourage miners to sell more gold to the central bank. Ivanhoe CEO met with parliament speaker to discuss the Oyu Tolgoi project agreement. A delay in this agreement's approval was said to create lost opportunities.
- Economically, Mongolia's growth is forecast to slow, and fuel prices increased sharply. Minimum living standards were also set.
The document provides an analysis of Mongolia's banking sector as of September 2012 from a report by the Bank of Mongolia. It summarizes that total assets in the banking sector grew 15.2% in 2012, led by growth at individual banks. Total loans grew 22.2% in the sector, with Khaan Bank and Golomt Bank experiencing the highest growth. The largest banks by total assets are TDB, Khaan Bank, and Golomt Bank. Non-performing loans remain low across the sector. The analysis also examines deposit growth, capital levels, profitability, and other indicators for major Mongolian banks.
The document summarizes news from the Business Council of Mongolia newsletter dated July 4, 2014. It covers several topics:
- The Oyu Tolgoi copper mine director said the tax dispute with the government should not delay $4 billion in project financing for expansion. Meanwhile, the feasibility study is still delayed.
- Oyu Tolgoi and the government signed an agreement for the mine to receive power from a planned coal-fired power plant at the Tavan Tolgoi coal mine.
- Viking Mines signed a non-binding agreement with the Erdenet Power Plant for future coal supply from its Berkh Uul coal project, its second such agreement with a Mongolian authority.
This document outlines key aspects of Mongolia's Accounting Law. It defines accounting terms and sets out accounting principles and standards that must be followed by business entities and organizations. It requires the use of accrual-based accounting and double-entry bookkeeping. It also specifies requirements for maintaining primary accounting documents, preparing financial statements, conducting asset counts, having financial statements audited, and setting submission deadlines.
The document discusses Mongolia's industrialization policies and priorities between 2010-2015 as outlined by the National Development and Innovation Committee. The five priorities are: 1) Developing the mining sector and heavy industry; 2) Developing intensified agriculture and implementing industrialization policies; 3) Developing infrastructure related to mining; 4) Providing sustainable development through human development and environmental protection; 5) Improving governance and supporting the private sector. The document provides details on projects and initiatives within each priority area.
The document summarizes news from the Business Council of Mongolia newsletter. Key points include:
- The US Export-Import Bank authorized a $500 million loan to support US exports for use at the Oyu Tolgoi copper-gold mine in Mongolia.
- A state commission in Mongolia approved the copper concentrator at the Oyu Tolgoi mine.
- Prophecy Coal Corp. shares surged after announcing a 25-year power tariff agreement for its coal mine mouth power plant project in Mongolia.
The document summarizes business and economic news from Mongolia. It discusses ongoing negotiations between Mongolia and Rio Tinto over the Oyu Tolgoi mining project. It also mentions that Aspire Mining has identified potential savings of $200 million by selecting a new route for a proposed rail line. Additionally, it provides updates on various mining and infrastructure projects throughout Mongolia.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key stories covered include Mongolia disputing that delays at the Oyu Tolgoi mine are its fault, Viking Mines signing a coal supply agreement, plans for a solar farm in the Gobi desert, and the Oxford Business Group releasing a report highlighting Mongolia's untapped economic potential. It also mentions several economic indicators and upcoming political and business events in Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories:
1) Rio Tinto is firming up $2.5 billion in financing for the Oyu Tolgoi mine expansion and expects government approval to ship copper within weeks.
2) Erdenes Tavan Tolgoi offered a one-year contract to mine 2 million tons of coking coal at West Tsankhi to attract new customers and raise cash.
3) The Mongolian government remains silent on allowing Centerra Gold to begin operations at its Gatsuurt gold project, which was to supply ore to the nearby Boroo mine for processing.
The document summarizes business and economic news from Mongolia. It reports that the Mongolian Prime Minister said any involvement of Chinese company Chinalco in the Oyu Tolgoi mining project would need government approval. It also reports that Eznis Airways plans to buy two new jets to meet growing demand and that TNK-BP signed an agreement to potentially deliver oil products to Mongolia. Additionally, it provides positive drilling results from Erdene Resource Development Corp's copper and molybdenum project and notes that Xstrata officials met with the Prime Minister to discuss their Australian coal mining operations.
The document is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key points covered include:
- Mongolia Mining Corp agreeing to acquire QGX Coal Ltd in the largest acquisition deal in Mongolia worth $464 million.
- Prophecy Resources plans to build the Chandgana power plant in Mongolia with an initial capacity of 600MW and ultimately 4,200MW.
- Erdene Resource Development receiving a mining license for its Zuun Mod molybdenum-copper project.
- Oyu Tolgoi, Mongolia's largest mine, is expected to contribute significantly to economic growth over the next decade according to a new
The document provides a summary of business and economic news from Mongolia. It discusses the Mongolian government unveiling a strategic plan for the Tavan Tolgoi coal mine that retains majority ownership for the government. It also mentions Turquoise Hill announcing 2017 production guidance for Oyu Tolgoi, the Development Bank of Mongolia signing an MOU with Russia's Sber, and Arab investors considering financing infrastructure projects in Mongolia. Additionally, it provides brief updates on Mongol Bank interest rates and the country's budget deficit.
The document is a newsletter from the Business Council of Mongolia covering various business and economic stories in Mongolia. It discusses several mining projects in Mongolia including Rio Tinto facing hurdles at the Oyu Tolgoi copper mine, Wolf Petroleum discovering an oil seam at a depth of 9,600 meters, and Modun Resources receiving a mining license for its Nuurst thermal coal project. It also mentions an iron ore sale agreement between India Globalization Capital and Mon Resources, and Belarusian textile company Bellegprom considering outsourcing some knitting operations to Mongolia.
The document is a newsletter from the Business Council of Mongolia that provides news highlights from October 26, 2012 on business, economic, and political issues in Mongolia. Some of the main stories covered include OT investors refusing to renegotiate the investment agreement for the Oyu Tolgoi mine, the former head of the Mineral Resources Authority being arrested for allegedly illegally transferring mining licenses, and Moody's downgrading the outlook for Mongolian Mining Corporation due to weaker profits and rising debt levels. The newsletter also mentions various other ongoing projects and developments across different industries in Mongolia.
The document provides news highlights from the Business Council of Mongolia covering business, economic, and political news. In business news, it reports that Erdenes-Tavan Tolgoi is considering selling convertible bonds before its IPO, which has been pushed back to at least September. It also reports that Guildford Coal's estimates in Mongolia have reached over 2 billion tons and that SouthGobi Resources will sell the Tsagaan Tolgoi deposit for $30 million.
The document summarizes business, economic, and political news from Mongolia reported in Issue 125 of the Business Council of Mongolia NewsWire dated July 2, 2010. Some of the key developments included:
- Rio Tinto raising its ownership in Ivanhoe Mines, which is developing Mongolia's Oyu Tolgoi mine, to 29.6% by exercising warrants ahead of schedule.
- SouthGobi Resources beginning construction of a coal handling facility at its Ovoot Tolgoi mine to add value by processing and blending coal.
- Petro Matad spudding its first exploration well in Mongolia, a key test for the company, after delays due to weather and disease outbreaks.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories:
- Ivanhoe Mines CEO Robert Friedland says revenue from byproducts at the Oyu Tolgoi mine will offset production costs and the mine is ahead of schedule.
- The Mongolian government has acquired over 263,000 hectares of land around Oyu Tolgoi for infrastructure development.
- Analysts are bullish on the prospects of Petro Matad due to its exploration success, strong management team, and large land holdings in Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several stories:
1) Rio Tinto is close to striking a deal with Mongolia on developing the second stage of the Oyu Tolgoi mine, as an engineering contractor has begun hiring workers for the project.
2) Mongolian Mining Corporation has secured $150 million in pre-export loan financing and a $50 million option to fund working capital and investments.
3) Mongolia Growth Group has appointed a new CEO, Paul Byrne, to lead the company in its next phase of development.
The document summarizes news from Mongolia across business, economic, and political topics.
1) Rio Tinto is encouraged by Mongolian government steps to update minerals laws and resume talks on the major Oyu Tolgoi copper and gold mining project.
2) A Korean investment consortium proposes a large investment to develop and transport coal from the Tavan Tolgoi deposits via railway to Russia and then by sea to meet South Korean energy needs.
3) The EBRD finalizes financing for major projects in Mongolia including loans to a petrol distributor and distribution company, and reviews its support for reducing air pollution in the capital.
The document summarizes business, economic, and political news from Mongolia. It reports that Erdenes-TT, a state-owned mining company, has been valued at USD 10.6 billion. It also discusses Mongolia Airlines expanding international routes, Eznis Airways acquiring a new plane, and a pre-feasibility study finding an internal rate of return of 43% for a coking coal project. Additionally, it mentions the EU providing funding for technical training in Mongolia and research finding e-filing could save taxpayers MNT 12 billion.
The document summarizes news from Mongolia across business, economic, and political topics. In business, a feasibility study for a coal washing plant in Mongolia was completed. Erdenes-TT expects to repay its debt to Chalco by the end of the year from coal sales. Mongolian and Japanese banks established a new leasing company called TDB Leasing. A Mongolian company acquired a 20% stake in a North Korean oil refinery to diversify Mongolia's energy sources away from Russia and China.
The document summarizes news from the Business Council of Mongolia newsletter dated October 10, 2014. Key highlights include:
- Rio Tinto's $5.4 billion Oyu Tolgoi copper project expansion in Mongolia has missed another deadline for financing commitments from lenders, raising concerns over Rio's copper earnings and Mongolia's economic outlook.
- Mongolia plans to expand its state-owned Darkhan metallurgical plant to include an iron ore wet concentrate plant by year's end, and upgrade the facility over the next four years.
- China's Sinopec submitted plans for a $30 billion brown coal gasification project in Mongolia to produce synthetic natural gas.
- MIAT
The document provides a summary of business and economic news from Mongolia in Issue 166 dated May 6, 2011 of the Business Council of Mongolia NewsWire. It highlights several stories including GE opening an office in Mongolia, analysts downgrading shares of Ivanhoe Mines, Sharyn Gol announcing plans for expansion and strategic review, and AIDD winning a large drilling contract in Kazakhstan. It also summarizes economic reports and statistics as well as political news briefs from Mongolia.
The document summarizes news from the Business Council of Mongolia newsletter. It discusses several stories on business and economic news in Mongolia, including:
1) Peabody Energy expressing interest in acquiring a stake in Mongolia's Tavan Tolgoi coal deposit to expand its operations in China.
2) Erdenes-TT again delaying its planned IPO in Hong Kong, London, and Mongolia due to weak coal demand and prices.
3) Oyu Tolgoi grappling with water scarcity in the Gobi desert for its mine operations while facing skepticism about its water usage from local herders and NGOs.
The document summarizes news from the Business Council of Mongolia newsletter dated November 27, 2009. Key points include:
- The Mongolian government took full control of the troubled Zoos Bank and renamed it the State Bank after it was found to have serious financial defects and bad loans totaling over $40 million.
- Anod Bank will be officially disbanded and the government will guarantee savings deposits and compensate shareholders.
- SouthGobi Energy completed a $500 million financing deal with China Investment Corporation to expand its coal mining operations in Mongolia.
- The Mongolian government says it has completed 5 of 10 conditions to start development at the Oyu Tolgoi copper-gold mine
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened Three Camel Lodge in 2002 as the only luxury eco-lodge in the Gobi Desert. Built by and staffed by locals, Three Camel Lodge offers travelers a way to experience the nomadic spirit of the region alongside modern comforts while protecting the natural beauty and culture.
After careful consideration for the preservation of the region’s environment, culture, and people, Jalsa Urubshurow opened the only luxury eco-lodge in the Gobi Desert, Three Camel Lodge, in 2002. Built by and staffed by locals, Three Camel Lodge offers travelers a variety of activities to learn about nomadic culture while enjoying modern comforts in a way that showcases the nomadic spirit without destroying the natural environment of the region.
The Business Council of Mongolia published its January 2020 Macroeconomic Updates report which contained the following key points:
1) Mongolia's GDP grew 6.3% in Q3 2019 while inflation was at 5.2% in December 2019. Exports reached a historic high of $7.6 billion in 2019, driven by record coal exports.
2) Foreign direct investment in Mongolia totaled $21.5 billion as of 2019, with the majority from Canada, China, Singapore, and Luxembourg invested mainly in mining.
3) The Mongolian currency, the togrog, depreciated 3.8% against the US dollar in 2019 as the central bank supplied $2.
Faro Foundation Mongolia is a non-governmental organization that promotes digital literacy and safe internet use in Mongolia. It works to educate the public on topics like online safety, proper social media use, and cyberbullying prevention. The organization's primary goal is to create positive social change through social media. It has developed a digital literacy curriculum and library on Facebook to teach essential digital skills to students, teachers, and parents.
The Business Council of Mongolia (BCM) is an independent non-profit organization established in 2007 to advocate for economic freedom and a competitive business environment in Mongolia. It has over 240 member organizations from various sectors. The BCM aims to equip its members with policy research, training, and networking opportunities. It is organized with a Board of Directors, Executive Committee, and six working groups focused on key issues. The Growth and Innovation working group works to promote digital transformation in Mongolia.
The One-Stop-Service Center (OSSC) was established in February 2019 under the Prime Minister's order to provide centralized public services to investors in Mongolia. The OSSC was created as part of Mongolia's three-pillar development policy and on the recommendation of the Investment Protection Council. It allows five government bodies, a bank, and notary office to render services to foreign investors from one location.
Mongolians are building a competitive Fintech sector with international ambitions by cultivating agile and innovative teams combining specialists and experts from 6 nationalities. To become truly internationally competitive, Mongolia must train professionals and executives to international standards by growing their next generation of innovative leaders and skilled experts. Overcoming these challenges will allow Mongolia to solve growing issues and compete in international markets.
The document discusses competitiveness rankings for Mongolia and its provinces. It analyzes Mongolia's performance in the IMD World Competitiveness Ranking, where Mongolia ranked 62nd out of 63 countries in 2018. The ranking evaluates countries across 4 factors: economic performance, government efficiency, business efficiency, and infrastructure. The document also summarizes findings from a provincial competitiveness report for Mongolia, which evaluated and ranked the competitiveness of Mongolia's 21 provinces. Finally, it outlines criteria and results from a competitiveness ranking of districts in Ulaanbaatar city across 5 factors of quality of life, living environment, safety and security, governance, and economic performance.
Digital transformation involves using digital technology in new ways to solve traditional business problems and drive organizational change. The presentation discusses how digital transformation differs from related concepts like digitization, analytics, and outsourcing. Key aspects of digital transformation include leveraging data as a strategic asset, adapting to digital natives, and undergoing cultural and technological changes. Methods like agile project management and design sprints are presented as ways to accelerate transformation. The presentation also provides examples of how companies have transformed, such as Domino's Pizza using digital strategies to regain market share.
DBS Bank was named the world's best digital bank by Euromoney in 2016 and 2018, beating competitors like Citi, BBVA, and ING. The CEO of DBS Bank, Piyush Gupta, accepted the award and said that banks of the future will be fundamentally different than today's banks due to their digital transformation. DBS Bank has spent three years focused on digital initiatives by changing employee mindsets and technology infrastructure to make banking simple and seamless for customers.
Mongolia transitioned to democracy in the early 1990s after a peaceful revolution. It now has a multi-party parliamentary democracy with freedoms of religion, expression, and private property rights guaranteed in its constitution. Mongolia's economy depends heavily on its mineral and agricultural sectors as it continues developing a market economy after transitioning from Soviet control.
The document discusses the Growth & Innovation Working Group of the Business Council Mongolia. The working group aims to:
1. Promote and advance business growth and innovation in Mongolian society through educating businesses, government, and the public on opportunities in research and development.
2. Enable all organizations to grow and innovate, not just start-ups or sectors traditionally thought of as innovative.
3. Focus on key objectives like digitalization, infrastructure, financial technology, data security, efficiency, public investment policy, and intellectual property protection to support the digital transformation of consumer and enterprise services through technologies like IoT, AI, fintech, blockchain, and more.
The working group plans events
The BCM held its January monthly meeting to discuss organizational updates. Key points:
- The BCM elected a new 15-member Board of Directors and appointed an Executive Committee and Working Groups.
- Two presentations were given on legal environments for asset management in Mongolia and on responsible mining.
- The BCM revised its mission statement to focus on providing members with policy research, training, and networking support for business in Mongolia.
- The BCM reorganized its working groups, which are now chaired by Board members, and strengthened its secretariat.
The document discusses Mongolia, Russia, and China's economic corridor program. It notes that the program aims to improve connectivity between the three countries through projects involving railway, roads, energy transmission lines, gas and oil pipelines, and high-speed internet. There are currently 32 projects across areas like infrastructure, energy, agriculture, border cooperation, trade, environment, education, medicine, and more. The document also discusses plans to establish a joint center for investment planning and projection in Ulaanbaatar to facilitate implementation of the economic corridor program projects and further trilateral cooperation.
This document provides information on business opportunities through procurement for Mongolia's Second Compact Agreement with the Millennium Challenge Corporation (MCC). It outlines that the total grant value is $350 million to fund activities supporting economic growth and poverty reduction in Mongolia. Key business opportunities include consulting services, goods, and construction works valued at approximately $44 million for the base year. The presentation also reviews MCC's procurement principles of transparency, fairness and competitiveness. It provides details on the procurement process and how opportunities will be advertised.
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Recent years have seen a disturbing rise in violence, discrimination, and intolerance against Christian communities in various Islamic countries. This multifaceted challenge, deeply rooted in historical, social, and political animosities, demands urgent attention. Despite the escalating persecution, substantial support from the Western world remains lacking.
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Christian persecution in Islamic countries has intensified, with alarming incidents of violence, discrimination, and intolerance. This article highlights recent attacks in Nigeria, Pakistan, Egypt, Iran, and Iraq, exposing the multifaceted challenges faced by Christian communities. Despite the severity of these atrocities, the Western world's response remains muted due to political, economic, and social considerations. The urgent need for international intervention is underscored, emphasizing that without substantial support, the future of Christianity in these regions is at grave risk.
https://ecspe.org/the-rise-of-christian-persecution-in-islamic-countries/
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On the Wrong Track | Recent Increasing Train Accidents in India | News
11.01.2013, NEWSWIRE, Issue 256
1. BUSINESS COUNCIL of MONGOLIA
NewsWire
www.bcmongolia.org
info@bcmongolia.org
Issue 256 - January 11, 2013
NEWS HIGHLIGHTS:
Business
Oyu Tolgoi board chairman assures of Mongolian interests;
Oyu Tolgoi's airport complete;
Erdenes-TT requests USD 200 million loan from Development Bank;
KFC to open in UB;
Miners rejoice for new border gates;
Mongolian Growth Group lists on TSXV;
BDSec pitches Mongolian securities abroad;
Wolf Petroleum prowling for big oil in Mongolia, signs PSC;
MIAT guarantees compensation for flight cancellations;
OT postpones wrongful termination hearing for lawyer change;
S&P rates Golomt at “B+” with “Stable” outlook;
Nomin takes home top honor at MNCCI entrepreneurial awards;
BPI holds quality management training;
Proposed Macmahon sale will test faith of investors.
Economy
Japan, Mongolia sign emissions-reduction pact;
Development of infrastructure in ger districts planned for spring;
Premier promises paid training;
State-owned electric company to meet energy demand in southern region;
Police warn of counterfeit yuan;
Mutton prices surge on higher gas prices;
MNT 140.4 billion local bond sale to support leather sector;
Immigration ends services fees;
Cabinet plans for 2013-2015 road construction projects;
Teaching institute initializes nationwide training;
Chinggis Khaan saw greater airline traffic in 2012;
Crime spiked in 2012;
Mongolia’s sovereign bond has teething problems;
Mongolia eyes access to sea via DPRK’s Rajin Port;
Chinese coal consumption expected to see growth in 2013;
Economist unit forecasts Mongolia second-fastest-growing economy in 2013;
2012 Year in Review;
Herders suffer cold snap and heavy snows.
Politics
Premier gives national address;
Opposition criticizes premier's words on Chinggis bonds;
BCM warns that draft Minerals Law greatly discourages investment;
MNMA hosts meeting with drafter of new Minerals Law;
Government calls for censorship of website comments;
MPs move to hasten enactment of judicial legislation;
Justice Minister's antagonizer pleads guilty;
China's investments prompt call for new rules;
2. Mongolia’s evolving foreign investment regime;
Thinking of investing in Mongolia? Read this first;
Legal immunities for MPs explained;
Looking for a jump-start in China.
ECONOMIC INDICATORS
MSE Top 20 Index by market Capitalization;
Foreign-listed Companies with Mongolian Assets;
Inflation;
Central bank policy rate;
Currency rates.
*Click on titles above to link to articles.
SPONSORS
Khan Bank Mongolian National Broadcasting
Breakthrough PR Oxford Business Group
BUSINESS
OYU TOLGOI BOARD CHAIRMAN ASSURES OF MONGOLIAN INTERESTS
Oyu Tolgoi LLC's chairman of the board defended the investment agreement for the enormous
copper mine, saying that the country earns more than investors in the form of taxes, royalties and
other fees.
―We will now see definitively if the Oyu Tolgoi project is profitable,‖ he said. ―It is not wise to talk
about how many shares we want from the project when the project has not even produced any
minerals yet. We all know that the public has a lot of expectations for Oyu Tolgoi.‖
The chairman also described the government's influence on the board, explaining that three of the
nine members represent state-owned Erdenes Oyu Tolgoi LLC.
―I would say that the three members—N. Bagabandi, B. Ganbold, and P. Tsagaan—are doing a great
job at fulfilling their duties to protect and ensure the interests and benefits of Mongolia.
Batsukh also commented on the recently held board meeting, of which some members had been
postponed because of disagreements over the budget. He said there was not any boycott or protest
made by board members and the board would assemble again for a meeting to resolve those issues.
Source: UB Post
OYU TOLGOI'S AIRPORT COMPLETE
Oyu Tolgoi LLC has finished construction of its Khanbumbat Airport.
The airport is located 36 kilometers from Khanbogd. It was built by Artzsuvraga, who employed
3. more than 700 engineers and professionals for the project. The airport's construction features a
traditional ger design with a runway length of 3,250 meters and width of 45 meters.
The airport was completed within three months of construction. It has the capacity for 240
passengers an hour while servicing passenger and cargo planes such as the Boeing 737. The cost for
construction came to MNT 2.5 billion.
Source: Unuudur
ERDENES-TT REQUESTS USD 200 MILLION LOAN FROM DEVELOPMENT BANK
Erdenes Tavan Tolgoi JSC has requested a USD 200 million loan from the Development Bank of
Mongolia.
This will be the second loan after a request by Erdenes-TT for a loan from the Development Bank
for USD 100 million. Last year the government took funds from Erdenes-TT for its Human
Development Fund, leaving it with only USD 170 million. That was enough to run its small-scale
operations only up to August of last year before it had to borrow from the bank.
[The USD 200 million] will see E-TT... stand on its feet,‖ said officials. ―We would then be able to
start paying dividends to our citizens, probably beginning in 2016.
Source: Mongolian International Capital Corp.
KFC TO OPEN IN UB
YUM! Asia Franchise Pte. Ltd. has granted Tavan Bogd Foods LLC the rights to develop and operate
KFC outlets in Mongolia.
―We have started the process for the first restaurant and plan to open by the middle of 2013. This
will be followed by three more restaurants in the second half of this year,‖ said Ts. Baatarsaikhan,
Chief Executive Officer and President of Tavan Bogd Group, the parent company of Tavan Bogd
Foods.
YUM! Brands Inc. is the world's largest restaurant company with nearly 38,000 restaurants in over
120 countries. Tavan Bogd, established in 1995, has grown into one of the largest conglomerates in
the country.
Source: Tavan Bogd Foods LLC
MINERS REJOICE FOR NEW BORDER GATES
A group of south-Gobi coal miners attended the opening ceremony of a new border gate with eight
lines at the Shivee Khuren-Ceke border point to China.
In attendance were Mongolyn Alt Group (MAK), SouthGobi Sands LLC, and Qinhua-MAK-Nariin Sukhait
to observe the event. Previously coal companies had to share a single entrance point approximately
eight meters wide. The new entrance points will allow a significant increase in import-export
activity, with two entrances reserved for in-bound traffic.
The mining firms in attendance together invested a total of MNT 2 billion for the project.
Source: Business Mongolia
MONGOLIAN GROWTH GROUP LISTS ON TSXV
Mongolia Growth Group (MGG) Ltd. announced the listing of its common shares on the TSX Venture
Exchange (TSXV) on 9 January.
The listing occurred and the symbol for the shares is YAK. Following the listing on the TSXV, MGG's
common shares delisted from the Canadian National Stock Exchange (CNSX).
―This is a very big deal, as liquidity should improve greatly and [MGG] will be more appealing to
institutional investors,‖ said BDSec JSC in a note to investors.
Separately, MGG also announced on 19 December the resignation of Genevieve Walkden as
corporate secretary and as an officer, as she could not comply with some TSXV terms. Genevieve
will remain with the corporation as director of operations for its property subsidiary, based in
Ulaanbaatar.
Source: Mongolia Growth Group
4. BDSEC PITCHES MONGOLIAN SECURITIES ABROAD
Investment bank BDSec JSC began meeting with investors on its road show to present a USD 100
million initial public offering (IPO) for Beren Mining Co. Ltd and a convertible loan offering for Berk
Uul JSC.
Berkh Uul is the owner of the world's largest fluorspar deposit, while Beren is an iron ore operation.
The road show began on 14 January in New York in the United States before hitting Washington
D.C., Miami, and San Francisco.
Source: BDSec JSC
WOLF PETROLEUM PROWLING FOR BIG OIL IN MONGOLIA, SIGNS PSC
Wolf Petroleum Ltd. signed a production sharing contract for a large 23,047 square kilometer
exploration block in eastern Mongolia.
About 60 percent of the surface outcrops are cretaceous aged with a high potential for source
reservoir rocks at depth. Historical gravity surveys indicate the presence of a large sub basin with a
thickness of up to 3,000 meters and a potential petroleum ―source kitchen‖ has been identified.
Currently, only two Chinese companies are producing and exporting oil on blocks adjacent to Wolf's
Sukhbaatar Block 27 and BU Blocks. Production has increased 11 times over the last five years and
the current proven reserves are over 2.4 billion barrels of oil.
Wolf plans to carry out an aggressive exploration program to complete its first three years of
contract duties within the first year. A geological and geophysical crew of up to 45 people is
planning to commence the work program on site in January.
The contract has a five-year exploration period with two possible two-year extensions and a further
five-year extension under government approval. A total of 14 years of exploration and up to 30
years of production are possible under the contract.
Wolf is now the largest petroleum exploration block holder in Mongolia, with over 74,000 square
kilometers held.
Source: Proactive Investors
MIAT GUARANTEES COMPENSATION FOR FLIGHT CANCELLATIONS
MIAT Mongolian Airlines has made a guarantee to repay travelers for canceled flights.
The international-domestic airline will make compensation for certain flights, with a sliding scale
depending on distance of travel. MIAT's guarantee has it paying USD 100 for travel of less than 1,500
kilometers, USD 150 for 1,500 to 3,000 kilometers, and USD 200 for more than 3,500 kilometers.
MIAT agreed to conditions during discussions with Mongolia's Authority for Fair Competition and
Consumer Protection (AFCCP). It first became available for passengers who were traveling to Beijing
on 22 December.
Source: Undesnii Shuudan
OT POSTPONES WRONGFUL TERMINATION HEARING FOR LAWYER CHANGE
A representative of Oyu Tolgoi LLC submitted a request to postpone a court hearing concerning a
wrongful termination suit.
The trial initiated by S. Gantuya was scheduled to take place on 9 am that day, but from Oyu Tolgoi
LLC the court received a written request for a change of their attorney. The trial was postponed
with no amended date given. According to B. Munkhdal of media group Cover Mongolia, Gantuya is
the younger sister of well-known Oyu Tolgoi-opponent in Parliament, Ganbaatar.
Gantuya claims that there was discrimination between foreign and Mongolian staff, even if they had
the same qualifications. She said Oyu Tolgoi had failed to evaluate Mongolians' working abilities.
She is set to defend herself at the court hearing, as no attorney agreed to defend her.
Source: News.mn, Cover Mongolia
S&P RATES GOLOMT AT “B+” WITH “STABLE” OUTLOOK
Standard & Poor's Ratings Services (S&P) explained its credit rating for Golomt Bank LLC of ―B+‖
with a ―Stable‖ outlook in a summary statement.
5. The stable outlook on Golomt reflects S&P's expectations that the bank could maintain its financial
risk profile at about the current level while pursuing its high-growth strategy. The outlook on the
bank also reflects the stable outlook on the sovereign rating on Mongolia.
S&P could raise the rating if Golomt continues to manage its credit growth, diversify its asset mix,
and maintain its record of lower credit losses than peers. This could lead to a positive reassessment
of the bank's risk position. It could also upgrade the bank if its capitalization improves substantially
or if the sovereign rating of Mongolia was raised.
Conversely, S&P could lower the rating if the bank's capitalization weakened significantly, either
due to substantial credit losses or overly aggressive expansion.
Source: Standard & Poor's Investment Services
NOMIN TAKES HOME TOP HONOR AT MNCCI ENTREPRENEURIAL AWARDS
Nomin Holding LLC won the ―Grand Prix‖ Award at the Mongolian National Chamber of Commerce
and Industry's (MNCCI's) Entrepreneur-2012 awards.
Other honors include Khan Bank LLC's ―Best Corporate Social Responsibility Implementer,‖ NBF LLC's
award for ―Best Pure Manufacturer,‖ for the Greenpreneur-2012 awards, and Juulchin Tours LLC for
the ―Gold Cup‖ award from the Confederation of Asia Pacific Chambers of Commerce and Industry.
Source: Mongolian National Chamber of Commerce and Industry
BPI HOLDS QUALITY MANAGEMENT TRAINING
USAID's Business Plus Initiative (BPI) held the Lead Auditor advanced training series for 32 trainees
in October.
At the event organizers trained a cadre of management and auditing professionals in targeted areas
related to quality management, food safety, and environment. The five-day training series also
taught essential elements of auditing.
Eighty percent of participants passed rigorous examinations, and in December BPI honored their
achievements in an awards ceremony.
Source: Business Plus Initiative
PROPOSED MACMAHON SALE WILL TEST FAITH OF INVESTORS
The rebound in some commodity prices is encouraging a number of Australian miners to bring
stalled projects back on line, and boosting the prospect for the country's mining-services
companies, too. But Macmahon Holdings—whose Macmahon Mongolia provides contract mining
services for the Tavan Tolgoi East Tsankhi coal project—is in danger of fluffing its lines.
Macmahon's share price, which halved last year, has gained more than 30 percent since the start of
2013, thanks to industry-wide optimism. In the past two days, though, the price has slipped almost
7 percent.
The problem is the proposed sale of most of Macmahon's construction assets to its largest
shareholder, Leighton Holdings, for about AUD 20 million (USD 21 million). Singapore-based
Sembawang Engineers & Co. said it wants to top the bid, but Macmahon has blocked it from doing
so. Sembawang is now threatening to sue.
It may appear at first Macmahon sold the assets to Leighton too cheaply, and may net only about
AUD 2 million from the sale after costs, including restructuring and redundancy. But the sale draws
a line under a troubled business that lacked scale and lost some key staff.
Sembawang says it is offering to pay at least USD 5 million more than Leighton for the same assets.
But Macmahon says it has an exclusive deal with Leighton that cannot be broken. The mining-
services company says Sembawang's proposal is ―unsolicited nonbinding, incomplete, and
conditional.‖
Macmahon's shareholders will get their say on Leighton's offer next month, when they vote on the
proposed sale. That will be a test of their faith in the deal, and in Macmahon's management.
Source: Wall Street Journal
6. ECONOMY
JAPAN, MONGOLIA SIGN EMISSIONS-REDUCTION PACT
Japan is making progress in its plan to bypass protracted U.N.-sponsored efforts to limit carbon
emissions, signing its first bilateral carbon offset mechanism Tuesday.
According to the agreement Japan signed with Mongolia in Ulaanbaatar, the mechanism is intended
to complement the U.N. Framework Convention on Climate Change, which last convened in Doha,
Qatar, in December.
Yuya Okuyama, the global warming policy director at Japan's environment ministry, said the country
is also close to signing similar agreements with Bangladesh, Indonesia, and Vietnam. Japan has said
over the past three years it was pursuing a strategy of signing bilateral pacts, as they can be more
easily reached than multilateral agreements through 2020, but this commits a limited number of
industrialized countries to cutting greenhouse gas emissions.
The Japanese government has financed 134 feasibility studies proposed by Japanese companies in
preparation for the introduction of bilateral schemes. A few of those have been conducted in
Mongolia, including a geothermal project by Shimizu Corp.
Source: Wall Street Journal
DEVELOPMENT OF INFRASTRUCTURE IN GER DISTRICTS PLANNED FOR SPRING
N. Gantumur, the head of infrastructure issues for the deputy mayor, outlined the plans to develop
infrastructure for the ger districts.
The first and foremost issue to deal with for the development of the ger districts is infrastructure,
said Gantumur. Infrastructure varies from each of the districts, with plumbing available only at
some.
One challenge will be relocating families at sites planned for development. Gantumur said most
people were willing to move into apartments. Construction firms have shown interest in the
project, especially for the Zuragt, Zuun Ail, and Central Market areas. However, the residents of
these areas will pose a challenge, he said.
―We won't take their land if they don't want to move into apartments, but they will have two
choices only: whether to move into an apartment or work on making their places connected to the
infrastructure.‖
Gantumur said the government was following examples from abroad. He said initial preparation
would begin in March with work to begin in mid-April.
Relatedly, the Asian Development Bank signed a memorandum and agreed to allocate USD 250
million for the development of Bayankhushuu and Doloon Buudal.
Source: Udriin Sonin
PREMIER PROMISES PAID TRAINING
Prime Minister N. Altankhuyag promised the Ministry of Labor would provide paid training to 6,600
individuals for work in mining, general construction, and road construction.
Altankhuyag said trainees would receive a monthly salary of MNT 190,000 during their training.
Candidates' ages will range between 24 and 40.
Particular attention will be given to training staff for the Oyu Tolgoi copper and gold mine. The
ministry has an agreement with the mine to provide candidates for a training course that OT will
provide.
Source: Udriin Sonin
STATE-OWNED ELECTRIC COMPANY TO MEET ENERGY DEMAND IN SOUTHERN REGION
The Cabinet of Ministries has decided in favor of establishing a state-owned southern region
electricity distribution network company.
The company will be utilized to meet the growing energy demands in the region. The growth in
energy needs is related to the numerous mining operations there. The company will provide for the
needs of at least 15 towns and three large mining operations.
7. Source: Unuudur
POLICE WARN OF COUNTERFEIT YUAN
The National Police Department has issued a warning that a slew of counterfeit Chinese yuan has
penetrated the Mongolian market.
Police officials warned that currency exchanges should be on the lookout for the fake bills, giving
three ways to tell whether a bill is authentic or not:
Checking for a watermark was the first. The watermark of Mao Zedong can be seen when holding a
bill up to a light. A watermark that does not appear clear is a sign that a bill is a fake.
Officials next recommended scratching at the hair of Mao, as an authentic bill will have texture
there.
Finally, fake bills may lack the blue-circled area underneath the denomination. The circle becomes
visible while slowly moving the bill from left to right.
Source: News.mn
MUTTON PRICES SURGE ON HIGHER GAS PRICES
The price of Mongolian mutton, the nation's staple food, rose 5.9 percent this month because of
increased gasoline costs.
Mutton prices have risen to MNT 6,614-6,800 a kilogram. The price of a liter of gasoline has reached
MNT 1,670, an increase of MNT 50 since the end of last year, according to the report.
Mongolia's Central Bank at the end of last year gave the country's fuel importers MNT 83 billion in
loans after the companies said they may have to increase gasoline prices to as much as MNT 2,010,
News.mn reported, citing O. Magnai, head of the UB-based Authority for Fair Competition and
Consumer Protection (AFCCP).
Beef prices have risen as much as 3.1 percent, goat meat has increased 3.7 percent and horse meat
has gained 0.2 percent, according to News.mn. Oil traded today near the highest level in almost
four months in New York.
The price increase for gasoline was ―reasonable,‖ the report cited Magnai as saying. He was also
cited as saying the cost for diesel and other fuels could see further increases.
Source: BusinessWeek
MNT 140.4 BILLION LOCAL BOND SALE TO SUPPORT LEATHER SECTOR
Parliament issued a decree for the issuance of a MNT 140.4 billion 5-year bond sold on 28
December.
The funds raised from the local offering will be used to provide low-interest loans to herders and
domestic leather-products manufacturers. The loans will be available only to herders participating
in cooperatives and will have no more than 7 percent interest.
Source: Unuudur
IMMIGRATION ENDS SERVICES FEES
The Mongolia Immigration Agency discontinued its MNT 5,000 to MNT 20,000 service fees and MNT
200 to MNT 1,000 form fees for customers beginning 1 January. The agency said the measures were
made to build up a fast and well-run public service for customers, and to save time and money.
Source: News.mn
CABINET PLANS FOR 2013-2015 ROAD CONSTRUCTION PROJECTS
At a recent meeting of the Cabinet of Ministers, members discussed plans for road construction over
the next few years. They agreed to construct paved roads between Ulaanbaatar and Huvsgul,
Dornod, Dundgobi, Umngobi and Bayankhongor Aimags and Chinese border point Zamyn Uud in
2013. The hope is that the roads would allow less travel time between the provinces as well as
greater safety and comfort during travel
The government also has plans to complete the construction of paved roads for Gobi-Altai, Zavkhan,
and Sukhbaatar Aimags by 2014. For 2015, the government has plans to construct paved roads
8. between Ulaanbaatar and Uvs, Hovd, and Bayan-Olgii Aimags.
The government is now in the midst of selecting contractors for the construction of the remaining
186 kilometers of roads in three different locations within these six provinces.
Source: Business Mongolia
TEACHING INSTITUTE INITIALIZES NATIONWIDE TRAINING
Nationwide training for teachers began on 3 January to be held until the end of the month in Hovd,
Dornod, and Arkhangai Aimags and Ulaanbaatar.
A total of 400 teachers from primary schools were expected to attend the trainings. The first
training in Ulaanbaatar was expected to have 83 teachers from 9 districts for specialized training at
the Teacher Development Palace.
The Specialized Institute for Teachers was re-established by the Ministry of Education, Culture and
Science after its formation by the government installed after last June's election. The aim for the
teaching institute is to organize country-wide trainings for kindergarten, primary, and secondary
schools. This training is the first the organization has held since its inception.
Source: News.mn
CHINGGIS KHAAN SAW GREATER AIRLINE TRAFFIC IN 2012
The number of passengers passing through Chinggis Khaan International Airport increased by 27
percent in 2012 from 2011. Cargo, too, saw a 7 percent increase.
Airport officials have attributed the rise to improved services, including renovations to the airport
for greater speed and quality of services and a larger area for international flights, more screening
machines, and two more exits for domestic flights. Officials are also planning for a larger space for
public transportation, including taxis and buses.
Source: Udriin Sonin
CRIME SPIKED IN 2012
The National Police Department reported a 20 percent increase in crime in 2012 from the year
prior.
Police authorities said 2012 saw 141,000 reported crimes, of which 22,000 were registered with
police. Fifty-eight percent of all crimes were registered in Ulaanbaatar. Bagakhangai Soum of the
Ulaanbaatar districts saw a surge in crime activity of 81 percent.
In Dundgobi, Bayankhongor, Hovd, Khentii, and Uvs Aimags, crime had fallen between 5 and 15
percent compared with 3 to 40 percent increases in the other 16 provinces in Mongolia.
Crimes involving women and children increased by 82 to 85 percent. Gang crimes have also
increased as well as domestic. Forty-one crimes involved weapons, an increase from last year. Some
are now calling for stricter controls over the sale of weapons.
Traffic crimes are also on the rise, with one of every four traffic crimes involving a driver under the
influence of alcohol.
Source: Udriin Sonin
MONGOLIA‟S SOVEREIGN BOND HAS TEETHING PROBLEMS
When Mongolia issued its debut sovereign bond in late November, international investors showed
immediate and keen interest. But a spat within the coalition government resulted in the bond's
price plummeting dramatically, threatening to completely undermine the initial positive reaction.
In the face of this setback, Mongolia has gone into overdrive in its efforts to paint the bond issue in
a positive light.
―The first sovereign issue by the Mongolian government was clearly a major success,‖ said Alisher
Ali, Chairman of Silk Road Finance. ―The sovereign bond was the largest-ever issue among all
frontier markets for a debut—the issue broke a number of records.‖
The bond's sudden slump in value of USD 7 to USD 8 came after members of Mongolia's fragile
government, the Mongolian People's Revolutionary Party (MPRP), announced that the party would
quit the ruling coalition, led by the Democratic Party, in protest at MPRP leader N. Enkhbayar's
9. arrest following corruption charges.
Here in Mongolia, people were actually quite surprised that the international community paid so
much attention to what was going on in local politics,‖ said Randolph Koppa, President of Trade and
Development Bank of Mongolia LLC. ―[They have] never really cared before, but since the bond, all
eyes are on Mongolia... Most people in the West do not have any idea how Mongolian politics work
yet.‖
The likelihood that the coalition government in Mongolia would fall apart, even if the MPRP decided
to withdraw, was minimal. A report by Origo Partners PLC highlighted that the threat was only
meant as a high-profile warning to the authorities by the MPRP. Moreover, according to the report,
the fact that the bonds soon rebounded shows that the market has largely ignored the potential for
further political controversy from the MPRP leading to government collapse.
Source: Euromoney
MONGOLIA EYES ACCESS TO SEA VIA DPRK‟S RAJIN PORT
North Korea is focusing on developing Rajin Port with the aim of attracting more foreign
investment. China and Russia have already secured usage rights to the port's berths, and Mongolia
has expressed interest in this endeavor, too. This indicates rising competition to use Rajin.
Mongolian Parliament Speaker Z. Enkhbold met North Korea's Supreme People's Assembly Chairman
and Korean Workers' Party Secretary Choe Tae Bok on 19 October during the latter's four-day visit to
Ulaanbaatar. Officials from both countries agreed on the future possibilities of bilateral trade and
cooperation in the fields of information technology and human exchanges.
The day after the two leaders met, the Choson Sinbo, a pro-Pyongyang newspaper published in
Japan, directly reported on the results of the talks, reporting North Korea's positive reaction to
leasing ports to the Mongolians. According to the newspaper, ―Rajin Port is the most convenient
access to the sea for Mongolia.‖
Mongolia and North Korea's cooperation on the port fits the economic interests of both. Mongolia is
interested in exporting coal and other minerals overseas, as the country is rich in underground
resources such as coal, copper, gold, and uranium. However, these resources are costly to export
since Mongolia has to rely on the Chinese and Russian railway systems. Furthermore, once freight
trains between Hassan in the far east region of Russia and Rajin begin to operate, it will make it
possible for Mongolia to transport coal directly to Rajin Port.
North Korea is most likely to lease Pier No. 2 and Sonbong Port to Mongolia, which are currently not
being used by China or Russia. Meanwhile, North Korea is looking for South Korean participation too
in the development of Rajin Port. Once inter-Korean relations improve and South Korea joins China,
Russia, and Mongolia in the development of Rajin Port, other types of economic cooperation
between these five countries is likely.
Source: DPRK Business Monthly
CHINESE COAL CONSUMPTION EXPECTED TO SEE GROWTH IN 2013
Despite a slowdown in economic growth in China, its coal output and imports have continued to
climb to record highs.
China is set to import and consume more coal in 2013 to feed its ever-growing economy. Industry
estimates suggest that the Chinese coal production and importation in 2012 neared 4 billion metric
tons. China's annual imports are some 270 million tons, of which most is imported from Australia
and Indonesia.
Last year Mongolia exported over 21 million tons of coal to China, or just half of its annual output.
Mongolia's coal exports are likely to grow following the construction of new railways and increases
in production at some of the country largest mines, including from Tavan Tolgoi.
International experts predict that China's coal imports will increase in 2013 and coal-exporting
nations such as Australia and Mongolia are set to benefit from such growth.
Source: Business Mongolia
10. ECONOMIST UNIT FORECASTS MONGOLIA SECOND-FASTEST-GROWING ECONOMY IN 2013
Mongolia is set to be named the second-fastest-growing economy in the world with 13.4 percent
economic growth for 2013, reported the Economist Intelligence Unit (EIU).
EIU, the Economist Group's independent analysis body, reported that demand for Mongolia's raw
materials from China would drive foreign direct investment into the country. Oyu Tolgoi, which is
set to become one of the world's largest copper projects, has been one of the chief catalysts and is
slated for commercial production to begin in the first half of 2013.
Macau, who tops the list, also enjoys tremendous growth directly because of China. The country's
main economic engine is its casinos which are expected to be filled with a slew of Chinese visitors
in 2013.
China itself is set for over 8 percent growth this year, and potentially more, depending on the
economic conditions worldwide. Meanwhile Europe stills struggles as it grapples with economic
turmoil.
Source: Business Mongolia
2012 YEAR IN REVIEW
While Mongolia can look back on a year that began with high expectations for a steady rise in
mining-generated wealth, reports of slowing growth and concerns among investors about the risk of
resource nationalism cast a shadow over the second half of 2012.
The USD 1.5 billion government bond released in November demonstrated that investor interest in
the country's vast coking coal and copper mine—and a strategic location near China and Russia—is
still strong. The offering was 10-times oversubscribed, attracting some USD 15 billion in bids, nearly
twice the gross domestic product (GDP) of 8.5 billion.
While the adoption of a Foreign Investment Law in May tightened approval requirements for
international companies has so far failed to weaken investor interest, the new requirements,
combined with a possible restructuring of a crucial deal with global mining giant Rio Tinto PLC,
could make investors more cautious in 2013. The controversial law has been described by some as a
form of ―resource nationalism.‖
Critics also noted that Mongolia's vulnerability to a downturn in commodities exports was exposed
by a drop in demand from its biggest customer, China, in 2012. Mongolia's expansionary fiscal policy
was also blamed for double-digit inflation and balance of payments pressures.
2012 witnessed a wave of confidence in the banking sector. However, banks' liquidity dropped from
50 percent in January 2011 to under 40 percent at the start of 2012. In May, Moody's downgraded
the ratings of four banks to B1, citing a ―relatively low level of cross-border diversification in their
operations.
The stock exchange also struggled in 2012, with the Wall Street Journal reporting in November that
its worth had fallen 30 percent. As for the country's two largest mining projects, the selection of
companies to develop the Tavan Tolgoi West Tsankhi coal project was delayed and the Oyu Tolgoi
copper mine has seen royalty and tax hikes that were outlined in the proposed 2013 budget.
Source: Oxford Business Group
HERDERS SUFFER COLD SNAP AND HEAVY SNOWS
Mongolia has been gripped by an extreme cold snap coupled with heavy snows, which have
disrupted the life of herders in rural areas, local media reported Saturday.
Strong winds and a dramatic fall in temperatures have hit a large part of Mongolia. In some areas,
the lowest temperature has plunged to minus 50 degrees Celsius, the report said. The National
Emergency Management Authority said Friday that over 80 percent of the Mongolian territory was
covered with snow that could be as thick as 1.3 meters in worst-hit areas. It has become impossible
for livestock to find grass on the snow-covered pasture land in 55 counties of 15 provinces
nationwide, the authority added.
Roads in some areas are also cut off by heavy snow and over 3,000 herders in rural areas could not
get medical assistance from outside.
The Mongolian government has sent working groups to disaster areas to assess the situation and
11. conduct rescue operations. Local authorities have also been ordered to take immediate actions to
restore road traffic.
Source: Shanghai Daily
POLITICS
PREMIER GIVES NATIONAL ADDRESS
Prime Minister N. Altankhuyag gave a report on current conditions within the nation.
Altankhuyag said the country had an average of 60 centimeters of snow in 15 provinces, with as
much as 130 centimeters in some areas. He reported that 27,189 families were suffering the worst
of the winter conditions. Meanwhile, energy consumption reached its peak points beginning in
October, he said, adding that energy delivery was functioning normally
The premier also addressed rumors that the USD 1.5 billion bond issuance made last year had put
the government under great debt, saying the rumors were untrue and that the Central Bank was
responsible for reducing negative effects from the debt sale. Also, a policy council has been
established to ensure that the funds from the sale are spent effectively and achieve the original
aims of the fund raising. This includes the construction of 1,800 kilometers of rail and paved roads
to connect six provinces with Ulaanbaatar. Altankhuyag said every project would undergo thorough
deliberation by the policy council.
Source: Montsame
OPPOSITION CRITICIZES PREMIER'S WORDS ON CHINGGIS BONDS
The Mongolian People's Party (MPP) criticized the prime minister's description of the USD 1.5 billion
bond offering made in his national address in a press conference, saying the MNT 6.7 trillion in
foreign debt will have unwanted pains for the nation.
The statement was made by a task force established by the MPP a week prior to the premier's
statement. It took issue with the statement - ―The bonds will not create debt pressures in
Mongolia‖ during his address to Mongolia on the current standing of the nation. They said Mongolia
would have to pay MNT 270 million a day, or what it would cost to construct a new kindergarten
every two days. During an interview the Bank of Mongolia Chairman N. Zoljargal said the
government and Central Bank failed to cooperate on the offering, and the projects to be agreed
upon are still under discussion.
Finance Minister Ch. Ulaan responded, saying the burden would be handed over to private
companies.
―The responsibility of paying back the bond interest is with the companies that acquire the loans
through the government,‖ he said. It is estimated that the state budget will not face pressures
because profitable projects are to be financed. But, if the companies who receive loans cannot pay
them back, the pressures will be felt in the state budget.‖
Source: UB Post
BCM WARNS THAT DRAFT MINERALS LAW GREATLY DISCOURAGES INVESTMENT
The Business Council of Mongolia (BCM) delivered a letter to President Ts. Elbegdorj's office
criticizing a proposed mining law that it says would ―greatly discourage‖ investment.
The letter, sent on 7 January, also said the proposed legislation would ―halt current mineral
exploration and development‖ and ―make the minerals industry economically non-viable.‖
The proposed mining legislation would need to be passed by Parliament to become law. Ch.
Saikhanbileg, Cabinet Secretary, said the proposed law was drafted by the President's Office and
declined further comment.
Source: Bloomberg
MNMA HOSTS MEETING WITH DRAFTER OF NEW MINERALS LAW
The Mongolian National Mining Association (MNMA) hosted a discussion on January 3 regarding the
12. draft Minerals Law after the new version of the minerals resources law was made public by the
President‘s Office.
Attorney B. Munkhtuya, the head of the working group that developed the draft law, explained the
law and answered delegate questions at the meeting.
An open public hearing is being scheduled for Friday, January 18, to accept comments from the
public on the draft law.
Source: News.mn
GOVERNMENT CALLS FOR CENSORSHIP OF WEBSITE COMMENTS
The Cabinet of Ministers has moved to establish a system of controls for comments on websites.
The Press Department reported that the government would establish a system that it says would
make the comment sections on websites run more smoothly. The Information, Communications
Technology and Post Authority has been tasked with designing the software for the system and
providing technical solutions while delegating regulations for websites.
The regulations would prohibit any insulting, threatening, immoral or criminal comments. The
Communication Regulatory Commission has banned the use of certain words already, but has largely
been ignored by users.
In response the Mongolian News Website Association submitted a statement in opposition to the
move by government to President Ts. Elbegdorj and Prime Minister N. Altankhuyag. The statement
says the move would undo 22 years of the government's credibility as a democracy. It adds the
decree violates the personal freedoms of the media and is a direct violation of free speech.
Source: News.mn
MPS MOVE TO HASTEN ENACTMENT OF JUDICIAL LEGISLATION
MPs have backed a motion to hasten the implementation of legislation bolstering the judiciary
system.
The motion would push forward initialization of the legislation to 15 April 2013. The law is set to
introduce greater transparency in the courts and divide responsibilities to provide greater
efficiency. Its proponents hope the legislation will help magistrates and the court system follow the
role set out by the constitution more closely and grant greater independence.
Source: Montsame
JUSTICE MINISTER'S ANTAGONIZER PLEADS GUILTY
A suspect who was believed to be the writer of a threatening letter to Kh. Temuujin, Minister of
Justice, pleaded guilty to a court.
A confirmed source said the letter was written by the wife of a former head of the Court Decision
Enforcement Office. The suspect, N. Narantuya, who worked as an assistant at the Secretariat of
Parliament, pleaded guilty. Afterwards, Narantuya's husband and three sons, who worked as police
officers, were fired.
Source: News.mn
CHINA'S INVESTMENTS PROMPT CALL FOR NEW RULES
The political furor that accompanies many overseas investments by China Inc., similar to that seen
when a state-owned Chinese firm attempted to purchase a majority stake in SouthGobi Resources
Ltd., is easy to understand. What to do about the investments is a lot more complicated.
Unlike private firms, China's state-owned enterprises serve two masters: the Communist Party and
private shareholders. And the party holds the trump card, because it, not the board, appoints chief
executives. Western policy makers suspect such investment may be a ―potential Trojan horse,‖ as
the United States-China Economic and Security Review Commission put it last fall.
Barring investments from such firms would be a loser economically, cutting off wobbly economies
from a rich source of funding. Instead, the United States is trying to use negotiations over a Pacific
free-trade pact, called the Trans-Pacific Partnership (TPP), to formulate rules governing the
behavior of state-owned firms. China is not a party to the talks, but the United States hopes Beijing
13. would ultimately agree to whatever limitations the pact imposes on state-owned firms so that
Beijing could become a TPP member and benefit from tariff cuts and other deals the parties strike.
However, the United States is losing leverage against the increasing importance of the Chinese
economy and negative opinions over TPP from China.
Robert Kimmitt, former deputy U.S. Treasury secretary, is quietly talking up an alternative: create
a round of negotiations to deal specifically with the issues raised by state-owned firms. The effort
tamped down criticism of the funds in Western countries, which were eager for sovereign-fund
investments after the global financial crisis. Christopher Balding, a sovereign-funds expert at Peking
University's HSBC business school, said these funds are now more willing to release annual reports
and other information. The Santiago principles were part of the funds' efforts to adopt ―best
international practices,‖ he said.
However this would be overly complicated, and given the importance of state-owned firms to global
trade the World Trade Organization (WTO)—an organization more or less trusted by all parties—
would probably make more sense than the IMF as a venue for such talks.
Source: Wall Street Journal
MONGOLIA‟S EVOLVING FOREIGN INVESTMENT REGIME
Mongolia's new regime, with its displeasure toward large deals involving state-owned Chinese
companies, is actually similar in its intentions to Australia's and Canada's in distinguishing private
and state-owned bids. But there is a key difference: in Australian or Canada, decisions on foreign
direct investment is made in the context of a stable and predictable regulatory regime. Stability in
Mongolia has not been a strong suit.
Many non-Mongolians have focused on ―resource nationalism‖ to explain the new laws to understand
the now-lifted detention of Sarah Armstrong, an Australian lawyer for SouthGobi Resources Ltd. But
where foreign investors see resource nationalism, Mongolians see an attempt to preserve the
resource wealth of their country and to reap the benefits for current and future generations.
Still, there is some element of knee-jerk nationalism from Mongolia and its Parliament. Some
leaders ignore the fact that ownership of mineral resources does not necessarily lead to profit.
Mongolia needs some of the skills, technologies, and capital that foreign investors can provide.
But corruption—not political rhetoric—is the greatest hurdle to the development of a successful
regulatory regime. Also, Mongolia still lacks the capacity to make good policy. Further, Mongolian
policy makers need to be more aware that the perception of regulatory initiatives abroad is often as
important as the reality. They also need to be thinking longer term regarding investments. The
current boom will not last forever.
Author Julian Dierkes is associate professor at the Institute of Asian Research at the University of
British Columbia. He is the editor of Change in Democratic Mongolia— Social Relations, Health,
Mobile Pastoralism, and Mining.
Source: East Asia Forum
THINKING OF INVESTING IN MONGOLIA? READ THIS FIRST
The mineral deposits under Mongolian soil could soon be governed by a radically different
regulatory framework—if a new draft of the country's Minerals Law is passed in its current form.
The new draft was published by the Mongolian government in December, and makes far-reaching
changes to the way mining and exploration licenses are awarded and maintained. It mandates that
Mongolian citizens must hold a 34 percent equity stake in all mining projects and gives state-owned
companies a pre-emptive right to any mining or exploration licenses transferred from one entity to
the other, according to a summary from law firm Hogan Lovells.
The reaction from Mongolia's business community has been apoplectic. Earlier this week the
Business Council of Mongolia (BCM) sent a letter to the president warning that the law ―threatens to
shut down the entire minerals industry of Mongolia.‖
―The impact of the draft law on the minerals industry will be to halt current minerals exploration
and development in Mongolia and greatly discourage any further investment...‖ reads the
statement.
14. The draft Minerals Law could still change significantly before it is passed, and BCM is no doubt
hoping that parliamentarians will heed these warnings as they amend the law in coming months.
However members of Parliament will also have to take in account voters who are worried that
Mongolians are not seeing the benefits of the minerals being extracted.
The debate over the news Minerals Law will be further influenced by the upcoming presidential
election in June. The Democratic Party, which leads the coalition government and controls
Parliament, will be working to ensure re-election for current President Ts. Elbegdorj. Their
constituents may not see things the same way as BCM does.
Source: Financial Times
LEGAL IMMUNITIES FOR MPS EXPLAINED
MP Ts. Tsolmon, the head of the National Security and Foreign Policy Committee, explained the
legal immunities Parliament seat holders have.
Tsolmon said the immunities were necessary because of the instability of the legal system. Some
accusations could be politically motivated and politicians need some protections, he said.
―The United States doesn't have this immunity because their legal system is very reliable, but they
worked on it for 200 years.‖
He said any MP who had committed a crime in public would have no legal protections. However, any
crimes made due to political pressures from an opponent or accusation made before an election will
have immunity granted. He said immunity was necessary as the courts would need more time to
collect evidence.
Source: Zuunii Medee
LOOKING FOR A JUMP-START IN CHINA
Here is my prediction about China: The new paramount leader, Xi Jinping, will spearhead a
resurgence of economic reform, and probably some political easing as well, Mao's body will be
hauled out of Tienanmen Square on his watch, and Liu Xiaobo, the Nobel Peace Prize-winning
writer, will be released from prison.
Here is my case for Xi as a reformer.
First, it's in his genes. His father, Xi Zhongxun, was a pioneer of economic restructuring and publicly
denounced the massacre of pro-democracy protesters in 1989. Xi's mother chooses to live in
Shenzhen, the most capitalist county in the country. It helps that the bar is low for Xi: he follows
President Hu Jintao, who is widely regarded in China as a failure. Even government ministers
complain that he squandered his 10 years as leader. Today there is pent-up demand for change.
Xi is trying to send a message that he is different. His first act upon becoming Communist Party
general secretary in November was to replicate a famous ―southern tour‖ by Deng Xiaoping in 1992
that revived economic reforms. Xi and his team have also startled officials by telling them to stop
reading empty speeches at meetings.
He would probably prefer to accelerate economic change while minimizing political relaxation, but
that is increasingly difficult as China develops an educated, worldly and self-confident middle class.
Over the years, most of China's neighbors [including Mongolia -ed] have become more democratic,
and now even Myanmar is joining the parade. How can mighty China be more backward that
Myanmar?
Granted, there is evidence to counter my optimistic take. Most troubling, the authorities are
cracking down on the Internet. Right now a fascinating test case is unfolding: a senior propaganda
official censored a New Year's message in a major Guangdong newspaper, and now journalists are
publicly demanding that he be fired. Xi is also more nationalistic that Hu, and I worry that a
confrontation with Japan over disputed islands could escalate out of control—in which case all bets
are off. Still, the pre-eminent story of our time is the rise of China, and I'm betting that in the
coming 10 years of Xi's reign, China will come alive again.
Nicholas D. Kristof, a columnist for The New York Times since 2001, writes op-ed columns that
appear twice a week.
Source: New York Times
15. ANNOUNCEMENTS
COAL MONGOLIA 2013, 21-22 FEBRUARY, SS CONVENTION CENTER
The third Coal Mongolia 2013international conference and exhibition will be held from 21 to 22
February at the SS Convention Center.
Organizers have partnered with the Ministry of Mining for attendees to have their questions
answered from keynote speaker Minister of Mining D. Gankhuyag as he asks where are we now, in
regard to the coal industry. Support comes from the government with the Ministries of Energy;
Economic Development; and Environment and Green Development are also participating as well as
private sectors with Mongolian Mining Corp. (MMC), Hunnu Coal Ltd., Aspire Mining Ltd. and others.
With over 1,000 delegates from 300 companies from 20 countries expected, don't miss out on the
chance to create new business relationships and reconnect with existing contacts at Magnolia's
premier coal industry event. Register before 15 January and save USD 300. BCM is a supporting
organization of Cola Mongolia 2013.
For more information: Log on www.coalmongolia.mn; telephone:70115590; or email:
info@coalmongolia.mn.
___________________________________________
INTERNATIONAL MINING INVESTMENT, SERVICES AND EQUIPMENT TRADE FAIR “PDAC 2012”
MARCH 3-6, 2013. TORONTO, CANADA
The Business Council of Mongolia with support of the Trade Department of Canadian Embassy is now
registering Mongolian business delegation to participate to International Mining Investment, Services
and Equipment trade fair ―PDAC 2013‖ which will be organized in Toronto, Canada from March 3 to
6, 2013.
This four-day annual Convention held in Toronto, Canada has grown in size, stature and influence
since it began in 1932 and today is the event of choice for the world‘s mineral industry. In addition
to over 1,000 exhibitors and 30,000 attendees from 125 countries, it allows you the opportunity to
attend technical sessions, short courses as well as social and networking events.
The program includes also business and entertainment activities in Toronto.
Please contact at 317027, 99197985 or otgoo@bcmongolia.org, for registration and additional
information about the event. Registration deadline is 6:00PM, January 15, 2013.
___________________________________________
MINES AND MONEY HONG KONG, 18-22 MARCH
Mines and Money Hong Kong is where mining companies from around the world come to raise capital
in Asia and meet with investors from Hong Kong and mainland China.
Cementing its position as a major fixture on the global mining investment circuit, Mines and Money
Hong Kong 2013 will bring together over 3500 institutional investors, mining entrepreneurs, brokers
and investment analysts for five days of high-value networking, investment analysis and deal-
making, from 18-22 March.
Click here to read delegate feedback on the 2012 event and learn why the industry views Mines and
Money Hong Kong as a ―must-attend‖ event.
The exhibition floorplan for Mines and Money Hong Kong 2013 is already filling up fast – click here to
see the list of mining companies already signed up to showcase their projects and investment
opportunities at the event.
Bringing together more investors and investment opportunities than ever before, Mines and Money
Hong Kong 2013 is an event you will benefit from attending.
What‟s new in 2013?
Enhanced pre-event networking to facilitate meeting arrangement
More in-show meeting rooms to facilitate one-2-one meetings onsite – (sold out in 2012)
Extended exhibition to provide space for 320+ mining companies to showcase their projects and
16. growth prospects – (sold out in 2012)
Larger venue for the black tie Mines and Money Hong Kong 2013 Asia Mining Awards Gala Dinner –
(sold out in 2012)
Dedicated investor invitation team to ensure maximum investor attendance
Mines and Money Hong Kong will also provide…
A high-level conference covering the most relevant topics for your business
Leading international speakers from across the mining and investment sectors
Project spotlight presentations showcasing a wide array of mining investment opportunities
Superb networking opportunities with decision-makers at the highest level
A bustling exhibition offering business opportunities at every turn
The largest gathering of investors focused on the mining sector in the Asia-Pacific region
As usual, BCM is supporting this event and members will get 15% discount for registration.
___________________________________________
“MM TODAY” on MNB-TV, Friday‟s at 19:15
BCM is pleased to announce that Mongolian National Broadcasting continues its cooperation with
BCM on ―MM Today‖. This English news program is aired every Friday for 10 minutes and is
scheduled from 19:15 to 19:25 tonight. Tune in to watch this program that reports stories from
today‘s BCM NewsWire.
___________________________________________
BCM‟S MINING SUPPLY CHAIN DATABASE
The new version of BCM‘s Mining Supply Chain Database is in use. Following the initiative of Oyu
Tolgoi LLC, the BCM has maintained the Mining Supply Chain Database since March 2009. The latest
version of the database is totally upgraded as to its content and use of information technology
opportunities.
As of December 31, suppliers registered on the database totaled 1,405. During 2012, 251 new
supplier entities joined the Database and 236 prior supplier registrants updated their company
profiles. In addition, 22 buyers were also registered and 82 tender announcements were posted.
We invite all Mongolian mining suppliers and buyer companies to join the Mining Supply Chain
Database. Please visit here for registration—FREE!
If you have any questions regarding the database, please contact Undral at undral@bcmongolia.org
or 317027.
BCM WEBSITES
MONGOLIAN WEBSITE „PRESENTATIONS‟ AND „NEWS‟ SECTIONS
The ‗Presentations‘ section on BCM‘s Mongolian website can be reached via bcm.mn/itgeluud.
Just posted are ―BCM Memorandum on Draft Minerals Law‖ prepared by BCM‘s Legislative Working
Group; ―Mongolia: Year in Review 2012‖ by Oxford Business Group.
As a key component of BCM‘s Mongolian website, articles from the ‗News‘ section and the
government website Open-Government.mn are regularly updated.
___________________________________________
ENGLISH WEBSITE: 'PRESENTATIONS', 'MONGOLIA REPORTS', „MONGOLIAN BUSINESS NEWS‟,
„PHOTO GALLERY‟
On BCM‘s English website, the ―Resources‖ and ―Presentations‖ sections are available. The
following 5 presentations were added from the BCM December Monthly meeting:
•Bayarmaa A., Carbon Finance Specialist, Clean Energy LLC, Newcom Group ―Case of Salkhit wind
farm CD CDM project
17. •Tsendsuren Batsuuri, Head of CDM National Bureau, Climate Change Coordination Office, Ministry
of Environment and Green Development – ―Carbon Market Mechanisms: current status and
opportunities for Mongolia‖
•Adrienne Youngman, Executive Director, Mongolia Talent Network – ―Human Talent In Mongolia‖
•Jan Hansen, Senior Country Economist, Mongolia Resident Mission, ADB and Enerelt Enkhbold,
Associate Investment Officer, MNRM, ADB – ―Outlook for the Mongolian Economy―
•Efrain J Laureano, Chief of Party, Business Plus Initiative - BPI – USAID Contractor - "Supplier
Development in Mongolia‖
Please also note 25 presentations from the Mongolian Investment Summit 2012 on 30-31 October in
Hong Kong; recent postings from BCM‘s 5 November and 24 September monthly meetings; and 9
presentations from Discover Mongolia 2012.
The ―Mongolia Reports‖ section includes – ―BCM Memorandum on Draft Minerals Law‖ prepared by
BCM‘s Legislative Working Group; ―Mongolia: Year in Review 2012‖ by Oxford Business Group;
―Mongolia Business Owner and CFO Survey result‖ by BDSec JSC; ―The fiscal regime for mining - a
way forward‖ by IMF Fiscal Affairs Department; ―Mongolia-a supplement to Mining Journal‖ from
Mining Journal October, 2012; ―Macro Overview‖ September, 2012 by EPCRC; ―Taxes for Expatriates
in Mongolia‖ from PricewaterhouseCoopers and the ―2012 Mongolia Investment Climate Statement‖
by the Economic and Commercial Section of the U.S. Embassy.
BCM's English website includes the ―Mongolia Business News‖ section where the Open Letter to
Parliament and Government is available for download.
BCM continuously posts news stories and analysis of relevance to Mongolia at ‗Mongolian Business
News‖ before they are all put together each week for Friday's weekly NewsWire.
The ―Photo Gallery‖ contains photos from the 5th Anniversary BCM Gala dinner on November 5.
The BCM NewsWire will continue to be issued each Friday, incorporating items already on the home
page for a consolidated account of the week‘s events.
___________________________________________
SOCIAL NETWORKS WITH BCM
The Business Council of Mongolia (BCM) has expanded its reach to your favorite social networks.
Keep up to date on the latest business deals in Mongolia and how the climate for investment is
improving each day with BCM.
Connect with BCM on Linked-in to join the diverse group of professional contacts creating a better
business environment in Mongolia today.
Add BCM on Facebook at http://www.facebook.com/pages/THE-BUSINESS-COUNCIL-OF-
MONGOLIA/129826330435540 to read the latest announcements and comment on events carried in
the NewsWire with the community.
Hear breaking news and announcements as they happen when you follow BCM on Twitter at
http://twitter.com/#!/bcMongolia.
We have now 835 fans on our Facebook fans page, 1,013 connections on LinkedIn network, and 547
followers on Twitter.
Of course for news information, interviews, event photos, and announcements regarding our
organization, visit the official BCM website at www.bcmongolia.org and www.bcm.mn.
BCM WORKING GROUP NEWS
BCM‘s Legislative Working Group sent a Memorandum on the draft Minerals Law to Mr. P. Tsagaan,
Chairman of the Office of the President, on 7 January 2013.
18. Please click on the following links to read BCM‘s cover letter and the complete BCM Memorandum
on draft Minerals Law:
1. BCM Minerals Law draft Comments detailed analysis
2. Cover Letter & Summary of BCM Memorandum
3. МБЗ-өөс Ашигт Малтмалын тухай хуульд өгсөн санал, зөвлөмж
4. МБЗ-өөс МУ-ын Ерөнхийлөгчийн Тамгийн Газрын дарга П. Цагаанд илгээсэн захидал
Please contact: erka@bcmongolia.org
ECONOMIC INDICATORS
19. INFLATION
Year 2006 6.0% [source: National Statistical Office of Mongolia (NSOM)]
Year 2007 *15.1% [source: NSOM]
Year 2008 *22.1% [source: NSOM]
Year 2009 *4.2% [source: NSOM]
Year 2010 *13.0% [source: NSOM]
Year 2011 *10.2% [source: NSOM]
November 30, 2012 *14.4% [source: NSOM]
*Year-over-year (y-o-y), nationwide
Note: 14.2% y-o-y, Ulaanbaatar city, November 30, 2012
CENTRAL BANK POLICY LOAN RATE
December 31, 2008 9.75% [source: IMF]
March 11, 2009 14.00% [source: IMF]
May 12, 2009 12.75% [source: IMF]
June 12, 2009 11.50% [source: IMF]
September 30, 2009 10.00% [source: IMF]
May 12, 2010 11.00% [source: IMF]
April 28, 2011 11.50% [source: IMF]
August 25, 2011 11.75% [source: IMF]
October 25, 2011 12.25% [source: IMF]
March 19, 2012 12.75% [source: Mongol Bank]
April 18, 2012 13.25% [source: Mongol bank]
20. CURRENCY RATES – January 10, 2013
Currency Name Currency Rate
US dollar USD 1,397.05
Euro EUR 1,825.32
Japanese yen JPY 15.94
British pound GBP 2,238.42
Hong Kong dollar HKD 180.15
Chinese Yuan CNY 224.48
Russian Ruble RUB 46.06
South Korean won KRW 1.32
Disclaimer: Except for reporting on BCM‘s activities, all information in the BCM NewsWire is
selected from various news sources. Opinions are those of the respective news sources.