The document summarizes business news from Mongolia. It discusses several topics:
- Transport firms halting coal exports from Tavan Tolgoi due to unpaid fees. Erdenes-TT seeking a $400-500 million government loan to repay debt and fund infrastructure projects.
- Rio Tinto inviting bankers to arrange $4 billion in project financing for the Oyu Tolgoi copper-gold mine.
- Exploration companies reporting positive drilling results at iron ore projects in Mongolia, confirming wide zones of mineralization.
- Other news items on mining, coal shipping, airline routes, and proposed industry consolidation.
The document summarizes business and economic news from Mongolia. It reports that Goldman Sachs has agreed to buy a stake in Mongolia's Trade and Development Bank to help it expand. It also reports that a Mongolian company has become the first to meet international food safety standards, and that coal producers are increasing exports and expanding border infrastructure to facilitate greater exports. It further reports on several mining companies' operations and plans for expanding production.
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 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 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-
This document provides a summary of news from the Business Council of Mongolia for May 18, 2012. It includes highlights on business, economic, and political news. For business, it summarizes news about mining companies like Erdenes-TT, Ivanhoe Mines, SouthGobi Resources, and Centerra Gold. It also discusses plans from Mongolian companies to produce synthetic diesel from coal. For the economy, it covers secondary bond trading, tax revenue from resources, and threats from climate change. For politics, it mentions new legislation on foreign investment and elections.
The document summarizes business and economic news from Mongolia in Issue 100 of the Business Council of Mongolia NewsWire dated January 8, 2010. Some of the key stories covered include SouthGobi Energy planning to raise $400 million from a Hong Kong IPO to fund coal production expansion in Mongolia, China National Gold's unit partnering with Monnis for gold exploration in Mongolia, and SouthGobi aiming to increase coal production at its Ovoot Tolgoi mine sixfold by 2012 through investments in mining infrastructure. The document also provides highlights of exploration and corporate activities by Entrée Gold in Mongolia in 2009, including the signing of an investment agreement for the Oyu Tolgoi mining project.
This document summarizes news from the Business Council of Mongolia newsletter for August 2, 2013. Major stories include Rio Tinto delaying underground development at the Oyu Tolgoi mine until it receives parliamentary approval for project financing. The majority shareholder of Savings Bank blamed receiving bad information about the Olon Ovoot mine for defaulting on loans. Aspire Mining's Ovoot coal mine resource estimates were upgraded, increasing reserves by 10.3%. Tests showed blending opportunities for coal from Ovoot and the Tavan Tolgoi mine.
The document summarizes business and economic news from Mongolia. It reports that Rio Tinto announced 1,700 redundancies at its Mongolian operations due to delays in underground expansion of the Oyu Tolgoi copper mine. Mongolia wants this expansion funded through cash flow from the mine until disputes over costs are resolved. Mongolia is also studying an IPO of its 34% stake in Oyu Tolgoi to give citizens ownership and help fund the expansion. Additionally, Prophecy Coal signed coal export deals to restart shipments to Russia.
The document summarizes business and economic news from Mongolia. It reports that Goldman Sachs has agreed to buy a stake in Mongolia's Trade and Development Bank to help it expand. It also reports that a Mongolian company has become the first to meet international food safety standards, and that coal producers are increasing exports and expanding border infrastructure to facilitate greater exports. It further reports on several mining companies' operations and plans for expanding production.
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 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 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-
This document provides a summary of news from the Business Council of Mongolia for May 18, 2012. It includes highlights on business, economic, and political news. For business, it summarizes news about mining companies like Erdenes-TT, Ivanhoe Mines, SouthGobi Resources, and Centerra Gold. It also discusses plans from Mongolian companies to produce synthetic diesel from coal. For the economy, it covers secondary bond trading, tax revenue from resources, and threats from climate change. For politics, it mentions new legislation on foreign investment and elections.
The document summarizes business and economic news from Mongolia in Issue 100 of the Business Council of Mongolia NewsWire dated January 8, 2010. Some of the key stories covered include SouthGobi Energy planning to raise $400 million from a Hong Kong IPO to fund coal production expansion in Mongolia, China National Gold's unit partnering with Monnis for gold exploration in Mongolia, and SouthGobi aiming to increase coal production at its Ovoot Tolgoi mine sixfold by 2012 through investments in mining infrastructure. The document also provides highlights of exploration and corporate activities by Entrée Gold in Mongolia in 2009, including the signing of an investment agreement for the Oyu Tolgoi mining project.
This document summarizes news from the Business Council of Mongolia newsletter for August 2, 2013. Major stories include Rio Tinto delaying underground development at the Oyu Tolgoi mine until it receives parliamentary approval for project financing. The majority shareholder of Savings Bank blamed receiving bad information about the Olon Ovoot mine for defaulting on loans. Aspire Mining's Ovoot coal mine resource estimates were upgraded, increasing reserves by 10.3%. Tests showed blending opportunities for coal from Ovoot and the Tavan Tolgoi mine.
The document summarizes business and economic news from Mongolia. It reports that Rio Tinto announced 1,700 redundancies at its Mongolian operations due to delays in underground expansion of the Oyu Tolgoi copper mine. Mongolia wants this expansion funded through cash flow from the mine until disputes over costs are resolved. Mongolia is also studying an IPO of its 34% stake in Oyu Tolgoi to give citizens ownership and help fund the expansion. Additionally, Prophecy Coal signed coal export deals to restart shipments to Russia.
The document summarizes business and economic news from Mongolia. Key points include:
- The Prime Minister said parliamentary approval is not needed for Rio Tinto's $4 billion financing package for the Oyu Tolgoi underground mine expansion.
- Rio Tinto agreed to provide Turquoise Hill, the majority owner of Oyu Tolgoi, with $600 million in bridge funding and committed to underwriting a rights offering if needed.
- Local residents announced protests against uranium exploration by French company Areva in southern Mongolia, claiming it has caused livestock deaths and health issues.
- TDB Capital launched an online trading platform, becoming the first in Mongolia to offer internet-based securities trading.
This document summarizes the February 28, 2014 issue of the Business Council of Mongolia NewsWire. It highlights several business, economic, and political stories in Mongolia. It also provides an overview of the recent BCM monthly meeting, including a discussion of Mongolia's partnership with the World Economic Forum and the addition of six new members to the BCM, such as Mitsubishi Financial Group and Dassault Systèmes. The meeting also included presentations on the recent Coal Mongolia investment conference and Mine Info LLC's mining exploration and consulting work.
The document summarizes news from the Business Council of Mongolia newsletter. It includes the following highlights:
- President Ts. Elbegdorj set a 2012 deadline to select companies to develop part of Mongolia's Tavan Tolgoi coal field, seeking to resolve a dispute between Chinese, Russian, and American bidders. Developing this field could bring billions of dollars in investment and royalties.
- Ivanhoe Mines will change its name to Turquoise Hill Resources to reflect its ownership in the giant Oyu Tolgoi copper and gold mine in Mongolia.
- Rio Tinto's Oyu Tolgoi mine in Mongolia is expected to begin copper production this year and
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 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 providing summaries of business and economic news from Mongolia. It discusses several stories including: OT expanding its mining operations and hiring hundreds of Mongolians starting in July; OT shipping over 2 million tons of copper concentrate in Q1 2016; a Mongolian development bank inking an oil loan with Russia; and mines leading tax payments in Mongolia in 2014 and 2015. It also briefly summarizes other mining, economic, political and business stories from Mongolia.
This document is a newsletter from the Business Council of Mongolia covering various business news highlights from Mongolia. Some of the key stories covered include:
- SouthGobi Resources filing a notice of investment dispute against the Mongolian government over failure to approve mining licenses.
- Exploration work continuing for several mining companies, including Entree Gold expanding their Argo Zone deposit and Altan Rio beginning drilling at their Chandman-Yol project.
- China National Nuclear Corporation receiving approval for their Gurvanbulag uranium mine and a consortium being selected to develop the country's Power Plant No. 5.
- Several companies' stock prices falling due to declining coal demand and prices from China.
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 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 is a newsletter from the Business Council of Mongolia covering business and economic news in Mongolia. Some of the key highlights include:
- Prophecy Coal Corp acquiring additional coal exploration licenses adjacent to its Chandgana project to consolidate the coal basin.
- SouthGobi Resources beginning construction of a new paved highway to transport coal from its Ovoot Tolgoi mine to the Chinese border.
- Sojitz Corp. of Japan aiming to more than triple its sales of Mongolian coal to China within three years.
- EzNis Airways receiving a new Boeing 737 aircraft, expanding its international flight routes from Mongolia.
- Cockpit4u Aviation Service becoming the
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 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 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 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 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 document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia. It summarizes recent news stories on topics like bad bank debts affecting investors, mining and resource companies operating in Mongolia, economic indicators, and an recap of the BCM monthly meeting. The meeting discussed Mongolia's new investment law, opportunities in the oil and mining industries, environmental conservation programs, and the role of the new Invest Mongolia agency in attracting investment.
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 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 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 is a newsletter from the Business Council of Mongolia covering business and economic news related to Mongolia. Some of the key stories covered include Mongolian Mining seeking to raise $680 million in an IPO, Petro Matad raising $46.8 million to accelerate its drilling program in Mongolia, Khan Resources hoping the Nuclear Energy Agency will cooperate after it let the appeal deadline pass in one of their court cases, and the opening of Mongolia's first investment bank focused on the mining sector by former UBS executives, signaling the mineral boom taking place in Mongolia.
Ricoh Higher Ed Services Overview Brochure-KallaiRay Kallai
Ricoh provides a range of services to support higher education institutions including:
1) Consulting services to help optimize business workflows, classroom technology, student records management, and environmental sustainability.
2) Campus print and mail/package solutions to enhance the user experience and increase efficiency.
3) Education analytics to help instructors design tests and analyze results using multifunction devices.
This document discusses human resource risks that can negatively impact company profits. It identifies several factors that influence employee productivity, such as personality, emotional intelligence, discipline, leadership, organizational culture, and motivation. The document also lists common human risks like error patterns in thinking and behavior, such as not taking care of one's health or teammates. Finally, it proposes ways to prevent these risks, such as implementing systems for psychological well-being, purpose, communication, team roles, and skills management to develop human resources and turn crises into opportunities.
The document summarizes business and economic news from Mongolia. Key points include:
- The Prime Minister said parliamentary approval is not needed for Rio Tinto's $4 billion financing package for the Oyu Tolgoi underground mine expansion.
- Rio Tinto agreed to provide Turquoise Hill, the majority owner of Oyu Tolgoi, with $600 million in bridge funding and committed to underwriting a rights offering if needed.
- Local residents announced protests against uranium exploration by French company Areva in southern Mongolia, claiming it has caused livestock deaths and health issues.
- TDB Capital launched an online trading platform, becoming the first in Mongolia to offer internet-based securities trading.
This document summarizes the February 28, 2014 issue of the Business Council of Mongolia NewsWire. It highlights several business, economic, and political stories in Mongolia. It also provides an overview of the recent BCM monthly meeting, including a discussion of Mongolia's partnership with the World Economic Forum and the addition of six new members to the BCM, such as Mitsubishi Financial Group and Dassault Systèmes. The meeting also included presentations on the recent Coal Mongolia investment conference and Mine Info LLC's mining exploration and consulting work.
The document summarizes news from the Business Council of Mongolia newsletter. It includes the following highlights:
- President Ts. Elbegdorj set a 2012 deadline to select companies to develop part of Mongolia's Tavan Tolgoi coal field, seeking to resolve a dispute between Chinese, Russian, and American bidders. Developing this field could bring billions of dollars in investment and royalties.
- Ivanhoe Mines will change its name to Turquoise Hill Resources to reflect its ownership in the giant Oyu Tolgoi copper and gold mine in Mongolia.
- Rio Tinto's Oyu Tolgoi mine in Mongolia is expected to begin copper production this year and
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 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 providing summaries of business and economic news from Mongolia. It discusses several stories including: OT expanding its mining operations and hiring hundreds of Mongolians starting in July; OT shipping over 2 million tons of copper concentrate in Q1 2016; a Mongolian development bank inking an oil loan with Russia; and mines leading tax payments in Mongolia in 2014 and 2015. It also briefly summarizes other mining, economic, political and business stories from Mongolia.
This document is a newsletter from the Business Council of Mongolia covering various business news highlights from Mongolia. Some of the key stories covered include:
- SouthGobi Resources filing a notice of investment dispute against the Mongolian government over failure to approve mining licenses.
- Exploration work continuing for several mining companies, including Entree Gold expanding their Argo Zone deposit and Altan Rio beginning drilling at their Chandman-Yol project.
- China National Nuclear Corporation receiving approval for their Gurvanbulag uranium mine and a consortium being selected to develop the country's Power Plant No. 5.
- Several companies' stock prices falling due to declining coal demand and prices from China.
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 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 is a newsletter from the Business Council of Mongolia covering business and economic news in Mongolia. Some of the key highlights include:
- Prophecy Coal Corp acquiring additional coal exploration licenses adjacent to its Chandgana project to consolidate the coal basin.
- SouthGobi Resources beginning construction of a new paved highway to transport coal from its Ovoot Tolgoi mine to the Chinese border.
- Sojitz Corp. of Japan aiming to more than triple its sales of Mongolian coal to China within three years.
- EzNis Airways receiving a new Boeing 737 aircraft, expanding its international flight routes from Mongolia.
- Cockpit4u Aviation Service becoming the
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 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 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 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 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 document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia. It summarizes recent news stories on topics like bad bank debts affecting investors, mining and resource companies operating in Mongolia, economic indicators, and an recap of the BCM monthly meeting. The meeting discussed Mongolia's new investment law, opportunities in the oil and mining industries, environmental conservation programs, and the role of the new Invest Mongolia agency in attracting investment.
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 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 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 is a newsletter from the Business Council of Mongolia covering business and economic news related to Mongolia. Some of the key stories covered include Mongolian Mining seeking to raise $680 million in an IPO, Petro Matad raising $46.8 million to accelerate its drilling program in Mongolia, Khan Resources hoping the Nuclear Energy Agency will cooperate after it let the appeal deadline pass in one of their court cases, and the opening of Mongolia's first investment bank focused on the mining sector by former UBS executives, signaling the mineral boom taking place in Mongolia.
Ricoh Higher Ed Services Overview Brochure-KallaiRay Kallai
Ricoh provides a range of services to support higher education institutions including:
1) Consulting services to help optimize business workflows, classroom technology, student records management, and environmental sustainability.
2) Campus print and mail/package solutions to enhance the user experience and increase efficiency.
3) Education analytics to help instructors design tests and analyze results using multifunction devices.
This document discusses human resource risks that can negatively impact company profits. It identifies several factors that influence employee productivity, such as personality, emotional intelligence, discipline, leadership, organizational culture, and motivation. The document also lists common human risks like error patterns in thinking and behavior, such as not taking care of one's health or teammates. Finally, it proposes ways to prevent these risks, such as implementing systems for psychological well-being, purpose, communication, team roles, and skills management to develop human resources and turn crises into opportunities.
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.
- Traditional public sector procurement departments are often seen as back offices that staff do not understand or want to deal with. They have a poor reputation.
- Procurement experts receive little training and development. They learn on the job from others who may perpetuate bad practices instead of best practices.
- For procurement to be effective, departments need proper resources, training, and influence over strategic decisions. Staff must feel valued and have input. Repeated cycles of replacing procurement without addressing underlying issues will only drive out good staff. Procurement has the potential to help organizations if given real support and time to develop strategies.
The document summarizes the Ovoot Coking Coal Project in Mongolia acquired by Aspire Mining Limited, an Australian company. It describes the project's geology and drilling results which indicated thick multiple coal seams. It outlines the deal terms under which Aspire acquired the project, providing cash and shares to the vendors. This has significantly increased the project's value. The document argues that listing on the Australian Securities Exchange provides benefits for funding exploration of early stage projects in Mongolia through access to capital markets.
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.
This document contains personal and career information for Bahruz Gachayev. It details his date of birth, contact information, education history and work experience. Bahruz has worked in health, safety and environment roles for Saipem-Azfen Joint Venture and Naval Engineering Group since 2014. His responsibilities have included hazard identification, inspections, audits, training and emergency response planning. He holds a bachelor's degree in journalism and various health and safety training certificates.
This document discusses PHYTO-DRIP®, a patented seed treatment application system that allows for precise application of seed treatments onto individual seeds. It provides flexibility for plant raisers to customize seed treatment based on grower needs. Syngenta promotes the PHYTO-DRIP® technology globally as part of its FarMore® seed treatment platform. Contact Syngenta for more information on using PHYTO-DRIP®.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several key events:
- Mongolia's first copper exports from the Oyu Tolgoi mine were delayed at the government's request, amid disputes over revenue sharing.
- Despite the expected start of OT exports and presidential election results, Mongolia's resource nationalism continues to concern investors and hurt economic growth prospects.
- Mongolia opened its first wind farm, a USD122 million project that aims to reduce coal reliance and air pollution in the capital. The EBRD plans to invest another USD50 million in wind projects.
Este documento presenta dos herramientas para compartir recursos en línea: Slideshare, que permite publicar presentaciones, documentos y archivos PDF para compartirlos con otros usuarios, y Flickr, un sitio web para almacenar, organizar, buscar y compartir fotografías con una gran comunidad de usuarios.
The document provides news highlights from the Business Council of Mongolia covering business, economic, and political topics. On business, an MPs' group favors the state holding 51% of the Tavan Tolgoi coal project and 34% of the Oyu Tolgoi copper project. Ivanhoe Mines remains focused on advancing Oyu Tolgoi despite losses, while Erdene explores opportunities during the current uncertain period. Cameco's earnings dropped due to lower uranium prices and higher costs. The document also mentions upcoming projects including a new mining registry system and Prime Minister Bayar consulting with Chile about copper mining.
Doctors' Hospital of Michigan (DHM) provides a wide range of inpatient and outpatient services including emergency care, behavioral health, pediatrics, surgery, radiology, oncology, rehabilitation, and family medicine. DHM has two campus locations in Pontiac and Waterford that operate emergency departments, outpatient clinics, and specialized services like intensive pediatric therapy and family medicine residency training.
- China Nuclear Corp plans to start mining uranium at the Gurvanbulag deposit in Mongolia within two years, with Mongolia owning at least 51% of the project. The deposit contains an estimated 10,000-15,000 tons of uranium.
- China Investment Corp will invest $500 million in SouthGobi Energy Resources to accelerate development of its Mongolian coal projects and increase coal production.
- Rio Tinto and Chinalco have begun discussions for Chinalco to potentially invest in the Oyu Tolgoi copper and gold mine in Mongolia, though any Chinese involvement would be politically sensitive given Mongolia's history with China.
This document provides information about diabetes mellitus. It discusses that diabetes is a condition where the body does not properly process glucose due to a lack of insulin or insulin resistance. There are two main types of diabetes: type 1 where the body does not produce insulin and type 2 where the body is resistant to insulin. Normal and abnormal blood glucose levels are defined. Diabetic ketoacidosis and hypoglycemia, which are life-threatening complications of uncontrolled diabetes, are described along with their symptoms and treatments. The document emphasizes the importance of routine blood sugar monitoring, exercise, diet, and weight control in diabetes self-management.
El documento define el terrorismo como la dominación a través del terror e incluye actos violentos para infundir miedo y presionar a los gobiernos. Explica que los terroristas usan la tecnología para evadir detección y que grupos como IRA, ETA, FARC y Al Qaeda son conocidos por secuestros, atentados y torturas. Finalmente, concluye que el terrorismo está incrementando de manera alarmante y que los gobiernos no han hecho lo suficiente para ponerle fin.
Ana Lilia Gray is seeking a Principal position and has over 15 years of experience in education. She holds a Bachelor's degree in Liberal Studies, a Master's degree in Elementary Curriculum and Instruction, and an Administrative Credential. Currently, she works as Vice Principal at Audubon K-8 School, where her responsibilities include instructional leadership, student achievement, parent involvement, and school operations. Prior to this role, she was an In-School Resource Teacher and classroom teacher. She has a proven track record of improving student outcomes through data-driven instruction, professional development, and behavioral support programs. References are provided from her current and previous principals.
The American University of Mongolia English Language Institute (ELI) provides a variety of English language programs including general English, English for specific professions, TOEFL preparation, and teacher training. ELI aims to provide learners with English skills and knowledge to broaden their educational and professional opportunities while serving as a model for quality education. The Academic Bridge Program is a full year program for high school graduates taught by international instructors focusing on critical thinking, academic content in English, and university level writing. The Success Program is a 16 week program for 10th to 12th graders covering academic English, career exploration, and learning styles.
- The document discusses two options for privatizing state assets in Mongolia - an international IPO or listing on the Mongolian Stock Exchange (MSE).
- An international IPO would be very expensive, costing up to $10 million with high annual fees, drawing negative attention. Listing on the MSE through a reverse takeover would be much cheaper at $350,000 with lower annual fees.
- The document recommends privatizing ETT, a state-owned energy company, through a reverse takeover merger with another MSE-listed company like TTL. This would quadruple the MSE market capitalization and keep the benefits within Mongolia.
This document provides a summary of news from the Business Council of Mongolia for October 18, 2013. The main sections covered include Business, Economy, Politics, and Economic Indicators. For Business, some of the key stories summarized are that OT-Rio relations are improving as both sides work to resolve conflicts over financing at Oyu Tolgoi mine. Rio Tinto aims to continue developing underground mining at Oyu Tolgoi. Turquoise Hill has increased production at Oyu Tolgoi to full capacity. For Economy, highlights included Mongolia's coal exports declining and IMF cutting growth forecasts for Mongolia. The Politics section briefly mentioned several diplomatic visits and agreements.
This document summarizes business and economic news from Mongolia reported in Issue 153-154 of the Business Council of Mongolia Newswire. Key highlights include:
- Russia blocked Khan Resources' litigation claim against a Russian uranium miner. Xanadu Mines and Noble Group announced a strategic alliance to explore for coking coal, iron ore, and ferroalloys in Mongolia. SouthGobi Resources delivered its first coal shipment directly to a customer in China rather than at the mine-gate.
The document summarizes business and economic news from Mongolia reported in Issue 291 of the Business Council of Mongolia NewsWire dated September 13, 2013. Key points include:
- Oyu Tolgoi appointed a new CEO from Rio Tinto as disputes continue over project financing terms between Rio Tinto and the Mongolian government.
- Mongolian representatives will meet with Rio Tinto investors in London to discuss the situation at Oyu Tolgoi amid declining foreign investment in Mongolia.
- A new digital cable platform is set to launch in Mongolia provided by NAGRA, allowing subscribers access to premium content and services.
The document summarizes the key news highlights from Issue 185 of the Business Council of Mongolia NewsWire dated September 16, 2011. Some of the top business stories include TT's IPO being delayed until early 2012, Hunnu Coal agreeing to be acquired by Banpu for $477 million, and the Oyu Tolgoi mine expected to generate one-third of Mongolia's economy by 2020. The "Discover Mongolia" conference delivered investment opportunities in Mongolia's mining sector to over 1,000 investors. Government officials discussed plans to expand Mongolia's infrastructure including roads, railways, and power stations. A panel at the conference addressed issues like mining taxation, licensing, and activities of illegal artisanal miners.
The document is a newsletter from the Business Council of Mongolia that provides news highlights from Mongolia in business, economy, and politics. Some of the key business highlights include: Oyu Tolgoi is expected to begin copper and gold production in August 2012; SouthGobi Resources updated coal reserves at Ovoot Tolgoi; and Winsway Coking Coal plans to issue $500 million in senior notes to finance investments including in Mongolia. Economic highlights include a 30% increase in minimum wages and plans for Mongolian citizens to receive shares in Erdenes MGL. Political highlights discuss Mongolia considering nuclear power and investigations related to riots in July 2010.
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 is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia. Some of the key stories covered include Erdenes TT resuming coal shipments to Chalco after agreeing to pay a higher interest rate on a $186 million loan. Soil stripping has begun at the West Tsankhi block of the Tavan Tolgoi coal mine. An Erdenes TT worker has gone on a hunger strike to protest poor labor conditions and unpaid overtime at the company. The Mongolian government plans to refund $33.8 million to 1,000 companies that had purchased shares in Erdenes TT.
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 from January 20, 2012. In the business section, it summarizes that Erdenes-TT will pursue an IPO in London and Ulaanbaatar instead of Hong Kong, Voyager Resources made a new copper discovery at its KM project, and Erdene received encouraging gold drilling results at its Altan Nar property. It also briefly summarizes several other mining and business deals and developments in Mongolia.
The document summarizes business and economic news from Mongolia reported in Issue 109 of the Business Council of Mongolia NewsWire dated March 12, 2010. Some of the key stories covered include Goldman Sachs potentially filing an international arbitration case regarding the Olon Ovoot mines, Mongolia Energy planning to start coal deliveries to China in August, and Rio Tinto's CEO being invited to a conference in China that could help rebuild the company's relationship there.
The document summarizes news from the Business Council of Mongolia newsletter. It highlights several business and economic stories including Macmahon extending negotiations over a mining project, lower production forecasts for the Oyu Tolgoi mine, government support for a railway connecting the Ovoot coal project to export routes, an ADB loan to finance a railway to the new international airport, a new metallurgical plant in Erdenet beginning full operations, a meat company receiving certification to export to China, and a new German factory opening to produce construction materials.
The document summarizes business, economic and political news from Mongolia reported in Issue 295 of the Business Council of Mongolia NewsWire dated October 11, 2013. Key highlights include Rio Tinto and Mongolia resolving some issues regarding the Oyu Tolgoi mine expansion, Turquoise Hill Resources appointing a new board director, and the Mongolian government approving a road construction to facilitate coal exports from the Baruun Noyon Uul mine.
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 news from the Business Council of Mongolia newsletter. It discusses Mongolia shifting its approach to developing the massive Tavan Tolgoi coal deposit by offering foreign investors a chance to develop half of it. Japan, South Korea, and Russia are forming a consortium to jointly bid for rights. Updates on several Mongolian mining projects are provided, including positive drill results from Erdene Resource's Zuun Mod molybdenum-copper project and testing of deep targets on Entrée Gold's Shivee West property adjacent to the giant Oyu Tolgoi mine. The London Stock Exchange is also set to begin reforming the Mongolian Stock Exchange this month.
The document is a newsletter from the Business Council of Mongolia that provides news highlights related to business and the economy in Mongolia and the region. Some of the key stories covered include the London Stock Exchange Group signing a strategic partnership with the Mongolian Stock Exchange to help restructure and develop it. Noble Group confirmed investing in Aspire Mining, a coking coal explorer in Mongolia. Leighton Asia started providing contracting assistance for Prophecy Resource's Ulaan-Ovoo coal project in Mongolia. SRK Consulting also opened new offices in Mongolia to service the mining industry.
- Centerra Gold and Tsesten Mining have requested that the Gatsuurt gold deposit and Tsaidam coal deposit be added to Mongolia's list of strategically important deposits. The Gatsuurt deposit contains an estimated 50-60 tons of gold worth $300 million.
- Mongolia signed a contract with British company RMS to supply rail fasteners for expanding Mongolia's Chinese-gauge railway system.
- Hunnu Air plans to purchase an Airbus A330-200 aircraft to begin direct flights to Paris and the United States, as it seeks to better compete with MIAT Mongolian Airlines.
The document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia and internationally. Some of the key stories covered include: progress being unclear on the planned IPO of Mongolia's Tavan Tolgoi coal mine; the Mongolian government greenlighting a planned 600-megawatt coal power plant by Prophecy Coal; and Xanadu Mines planning to continue drilling its metallurgical coal exploration project through the winter months.
This document provides a summary of business and economic news from Mongolia. It discusses that Mongolia Mining Corp. plans to pursue acquisitions after its successful IPO in Hong Kong. It also mentions that the Trade & Development Bank plans a $150 million bond sale. Additionally, it provides updates on mining companies such as Energy Resources, SharynGol, Petro Matad, and Oyu Tolgoi.
The document summarizes news from Mongolia in the areas of business, economy, and politics. Some of the key highlights include:
- Mongolia sees only a few remaining issues to resolve regarding the Oyu Tolgoi mining deal.
- Turquoise Hill Resources says inventory is building at the Oyu Tolgoi mine as some copper and gold sales have been deferred.
- Erdenes Tavan Tolgoi plans to significantly increase its coal exports to 11 million tons in 2014 with the goal of exporting 35 million tons annually once rail infrastructure is improved.
- The Mongolian government introduces its 2014 work plan while parliament works to meet international anti-money laundering standards.
The document is a newsletter from the Business Council of Mongolia that provides news highlights on business, economic, and political issues in Mongolia. It summarizes that Rio Tinto missed a financing deadline for expanding the Oyu Tolgoi copper mine in Mongolia, potentially delaying the project until 2015. It also reports that China's Shenhua Group will invest in a cross-border rail link to transport coal from Mongolia to China, and that South Korea's Posco is preparing to build a synthetic natural gas plant in Mongolia. Additionally, it outlines several other business deals and economic indicators in Mongolia.
- The document provides a summary of business and economic news from Mongolia, including stories on mining projects, commodity prices, and the Mongolian economy.
- A key story discusses a study finding that Mongolia is unlikely to receive dividends from its stake in the Oyu Tolgoi copper and gold mine until at least 2035, though it will continue receiving other revenues from the project.
- Other stories cover mining project expansions and discoveries, appointments within mining companies and the Mongolian government, and economic indicators from Mongolia such as inflation and currency rates.
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 is a newsletter from the Business Council of Mongolia covering business and economic news from Mongolia in Issue 281 dated July 5, 2013. It includes over 50 brief news highlights on topics like mining projects, transportation, tourism, and economic indicators. Some of the key stories include Rio Tinto postponing the first shipment from the Oyu Tolgoi mine due to a dispute with Mongolia over revenue, Turquoise Hill securing a $225 million loan from Rio Tinto to fund OT operations, MMC expanding its coal processing capacity to 15 million tons annually, and a Mongolian firm preparing to launch a new oil enterprise in North Korea.
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.
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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Youngest c m in India- Pema Khandu BiographyVoterMood
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1. BUSINESS COUNCIL of MONGOLIA
NewsWire
www.bcmongolia.org
info@bcmongolia.org
Issue 257 - January 18, 2013
NEWS HIGHLIGHTS:
Business
Transport firms halts export of coal from TT;
Erdenes-TT seeking state loan, CEO says;
Rio Tinto seeks USD 4 billion Oyu Tolgoi project financing;
MIAT to send more flights to Seoul;
Iron-ore firm proposes sector-wide consolidation for steel production;
Noble to lift Aspire stake to increase Mongolia coal shipments;
Haranga confirms wide lodes of iron mineralization at Selenge project;
Boroo produces 71,838 ounces of gold in 2012;
SPC sacks Ulaanbaatar Railway executive director;
Asia Resources updates investors on long-named law;
Clean Energy named “Best Green Energy” at Green Awards;
Mongolian Growth Group reports to shareholders on TSXV listing;
Rio Tinto boosted by iron ore resurgence;
Rio boss Tom Albanese steps down after USD 14 billion write-down.
Economy
Rosneft squeezes Mongolia for more cash at the pump;
Government commissions construction of oil refinery;
Economic growth moderates to 12.3 percent as coal exports slow;
Added investment drives spending frenzy;
Energy Ministry targets energy savings for 2013;
Meat reserves to begin sale on 1 March;
NSO predicts Mongolian population to reach three million by 2017;
Mongolia confronts modern malaise;
U.S. Embassy’s assessment of development of investment climate;
Harsh winter puts harvest under pressure;
Lenin statue valued at MNT 55 million to be auctioned;
Steep change as U.S. media bring glitz to Mongolia;
Iron-ore steady at 15-month high; China imports hit record;
As China's economy revives, so do fears of inflation;
Beijing and London: smog in two cities.
Politics
Mining legislation needs to promote “economically viable mining”;
Mongolia's proposed Minerals Law to affect mining;
Mining minister considers nationalizing Baganuur mine and Asgat deposit;
Health minister dismisses health care heads;
Former heads of Anod Bank sentenced to prison;
21 cable broadcasters fail inspections;
Mongolian ambassador submits credentials to President Obama;
Tuva to open representative office in UB;
China, Mongolia to deepen cooperation in mining, energy sectors;
Kazakhstan, Mongolia sign extradition treaty;
2. Women undergo hunger strike for Enkhbayar;
Mongolia makes incremental improvement in economic freedom index;
Government bans Saker falcon trade for five years;
DP proposes land acquisitions for road development in ger districts;
Bill prohibits foreign assets for government officials;
Dinosaur fossils return to new Mongolian museum;
Protecting Mongolia’s civil liberties.
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
TRANSPORT FIRM HALTS EXPORT OF COAL FROM TT
Erdenes Tavan Tolgoi JSC has been denied the transport of its exports after failing to pay service
fees.
Altangovi, who is in charge of the coal transport loading facilities at Tsagaan Khad, which is nearby
Mongolian-Chinese border point Gashuun Sukhait, suspended transportation of its coal last Friday.
The suspension of transport for Erdenes-TT's goods has reportedly also affected China, creating a
halt in transport there too.
The government is currently in negotiations for a USD 200 million loan from the Development Bank
of Mongolia to Erdenes-TT. Without those funds, exports from Tavan Tolgoi may not be possible.
Source: News.mn
ERDENES-TT SEEKING STATE LOAN, CEO SAYS
Mongolia's Erdenes Tavan Tolgoi JSC, the country's largest state-owned coal company, is seeking a
USD 400 million to USD 500 million government loan to repay debt and build infrastructure, its chief
executive officer said.
"Our financial situation is very complicated at the moment and we have to cover our debts and
3. finance all our infrastructure projects and operations," Ya. Batsuuri, a former member of
Parliament who has led Erdenes-TT since October, said.
Erdenes-TT, which signed a USD 250 million contract in July 2011 to supply coal to companies
including Aluminum Corp. of China Ltd., transferred about MNT 300 billion to the government's
Human Development Fund in 2011 and 2012. The fund hands out cash to Mongolian citizens as part
of a government effort to redistribute the nation's mining wealth.
Source: Bloomberg
RIO TINTO SEEKS USD 4 BILLION OYU TOLGOI PROJECT FINANCING
Rio Tinto PLC is said to have invited bankers to Mongolia in connection with a project financing of
USD 4 billion of debt for the Oyu Tolgoi copper-gold site, the country's biggest-ever mine.
The world's second largest mining company has invited lenders as it seeks to finalize terms of the
project financing, according to three people with knowledge of the transaction who wished not to
be named. A so-called request for proposal, setting out details of the debt sought, will be sent to
lenders following the meeting, two of the people said.
The meeting will take place on 27 January and include a visit to the mine, in the south Gobi Desert
80 kilometers from Mongolia's border with China, one of the people said. Rio Tinto is seeking to
raise as much as USD 2 billion from commercial banks, with the remainder provided by export credit
agencies and international development funds, another said.
BNP Paribas and Standard Chartered Bank were selected by Turquoise Hill Resources Ltd. when it
was known as Ivanhoe Mines Ltd., alongside the European Bank for Reconstruction and Development
(EBRD), the World Bank's International Finance Corp. (IFC), and Export Development Canada to
arrange the financing, it said in July 2010. They have been joined by Export-Import Bank of the
United States, Australia's Export Finance & Insurance Corp. and the World Bank's Multilateral
Investment Guarantee Agency, according to IFC's website. IFC is considering a loan contribution of
about USD 800 million, including a syndicated portion, according to its website.
Rio Tinto provided USD 1.5 billion of bridge financing to support the development of the mine, and
has provided USD 3.5 billion of funding in total, it said 18 April. The loan would be repaid when the
project financing is in place, it said at the time.
Source: Mine Web
MIAT TO SEND MORE FLIGHTS TO SEOUL
MIAT Mongolian Airlines has increased its services for the Ulaanbaatar-Seoul Incheon route.
During the peak season from 28 June to 25 August the airline will operate 10 weekly flights
compared to 9 in 2012.
Source: News.mn
IRON-ORE FIRM PROPOSES SECTOR-WIDE CONSOLIDATION FOR STEEL PRODUCTION
Bold Tumur Eruu Gol has proposed to consolidate 10 ore processing companies into a single
company called Mongol Steel Union.
Bold Tumur has invited companies such as Erdes Holding, Beren Group, and Mongol Metal Mining to
participate in the consortium. Bold Tumur has suggested it may seek investment of 30 to 40 the
percent from the government.
It has been projected in a study observing 14 different locations that the consortium would produce
11 billion tons of iron ore using 33 mines for a combined reserve of 660.8 billion tons of iron ore.
Bold Tumur proposed the construction of a plant with the capacity to produce 4.5 million tons of
steel pellets at Darkhan-Uul.
The first step would be to observe the construction of the steel plant in Sainshand, then develop a
feasibility study, and, finally, seek investment for the project. With investment from the state, the
plant could be constructed as soon as 2016.
Bold Tumur is currently constructing an ore concentration plant of its own in Selenge Aimag.
Source: Zuunii Medee
4. NOBLE TO LIFT ASPIRE STAKE TO INCREASE MONGOLIA COAL SHIPMENTS
Noble Group Ltd., Asia's biggest listed commodity supplier, agreed to boost its stake in Aspire
Mining Ltd. and to help fund the explorer's railway in northern Mongolia as it seeks to expand coal
shipments from the nation.
The Hong Kong-based trader will pay AUD 2.8 billion (USD 2.9 million), or 8 cents a share, to
increase its holding to 15 percent from 10 percent, Perth-based Aspire said today in a statement.
Noble will also pay 10 percent of pre-development costs for a railway that will link Aspire's coal
mine to the existing trans-Mongolian rail link, Aspire said.
Noble is expanding its presence in Mongolia with investments in Aspire and an alliance with Xanadu
Mines Ltd., also developing coal mines in the nation. The commodity supplier last month bought a
stake in a company that has a permit to build a coal export terminal on the far eastern coast of
Russia, which borders Mongolia.
―Mongolian coking coal is largely being sold to Chinese steel producers,‖ Aspire said. ―It is a key
part of Mongolian development policy to establish access to seaborne markets for Mongolian coal,
to provide pricing tension with Chinese customers and establish seaborne price benchmarks for
Mongolian coking coal.‖
Noble has the option to take a 10 percent stake in Northern Railways should a concession be
granted by the government and help attract funding, Aspire said today. The accord also includes
marketing rights for Noble for coal produced from Aspire's Ovoot mine, it said.
Source: Bloomberg
HARANGA CONFIRMS WIDE LODES OF IRON MINERALIZATION AT SELENGE PROJECT
Haranga Resources has completed diamond core drilling that confirmed the presence of wide lodes
of iron mineralization from surface at three prospects in its Selenge iron project in Mongolia.
Notable results from drilling at the Bayantsogt prospect, where all assays have been received,
include 34 meters at 32 percent iron from 79 meters including 8 meters at 41 percent iron from 103
meters; 16 meters at 35 percent iron from 88 meters including 8 meters at 49 percent iron from 92
meters; and 24 meters at 31 percent iron from 178 meters including four meters at 40 percent iron
from 188 meters.
Drilling at Bayantsogt has also extended the strike length of the deposit by 250 meters to the
southeast. Assays from the Dund Bulag prospect have confirmed the consistently wide seams of
magnetite starting from surface. The magnetite mineralization at both Dund Bulag and Bayantsogt
had achieved a high quality concentrate averaging 65 to 66 percent iron with low impurities during
metallurgical testing in 2012.
At the Undur Ukhaa prospect, 11 of the 12 holes drilled there appear to have intersected significant
apparent widths of magnetite mineralization as determined by geological logging and hand-held XRF
measurement. The mineralization there appears to be of a similar nature to nearby Dund Bulag. The
Undur Ukhaa anomaly is narrow but appears to have a strike length of about 800 meters.
Undur Ukhaa represents the fourth major discovery within the large Selenge project area, following
Bayantsogt, Dund Bulag and Huiten Gol.
Based on the results to date, the cumulative exploration target for the Selenge project has been
estimated at 250 to 400 million tons of iron ore, based solely on the four priority one targets
already drilled within the project area. There are a number of other promising magnetic anomalies
yet to be drill tested.
Source: Proactive Investors
BOROO PRODUCES 71,838 OUNCES OF GOLD IN 2012
Centerra Gold Inc. announced a consolidated gold production total of 387,076 ounces of gold for the
whole of 2012.
The total includes 315,238 ounces of gold from the Kumtor mine in the Kyrgyz Republic and 71,838
ounces from the Boroo mine in Mongolia. During the fourth quarter of 2012, consolidated gold
production was 219,316 ounces, including 189,438 ounces from Kumtor and 29,878 from Boroo.
―The Boroo operation performed well in the fourth quarter, exceeding our gold production forecast
5. for the year by 7,000 ounces. The heap leach operation received final permitting and was restarted
in the quarter, restarting solution breakthrough sooner than anticipated,‖ said President and Chief
Executive Officer Ian Atkinson.
―We have also begun discussions with the new Mongolian government on a way forward for the
Gatsuurt deposit. We have not included any production from Gatsuurt in our production guidance
for 2013 due to the associated uncertainty of approval and commissioning of the project.‖
Source: Centerra Gold Inc.
ASIA RESOURCES UPDATES INVESTORS ON LONG-NAMED LAW
Asia Resources Holding Ltd. gave an update to its investors on its position concerning the Law on
the Prohibition of Mineral Exploration and Mining Activities in the Headwaters of Rivers, Protected
Water Reservoir Zones and Forested Areas
The board sought legal advice from its legal advisors on the law and its impact on the iron mining
license. The board received a second legal opinion on 11 January from its legal advisor that the law
has not been implemented until 2012 when regulations related to its implementation were issued
and the boundaries of protected areas were decided. According to the legal advisor, there were
some exploration and mining licenses already canceled upon the law becoming effective.
It is also estimated by the legal advisor that more licenses related to mines located within
protected areas will be canceled under the law.
The board advised that such a list of canceled licenses could be issued at any time. The board
further advised that, although there is no specific time for the cancellation of the iron mining
license, the cancellation of licenses will first be executed in several designated provinces, including
Selenge Aimag, where its Mongolian mine is located. Should the iron mining license be canceled,
further impairment in the fair value of the mine shall be made, and the amount to be impaired
would be decided subject to further independent valuation results. The board will then analyze the
valuation results and assess the impact on the group's financial performance.
The board is also considering any possible actions it could take to minimize the loss arising from the
cancellation of the iron mining license should it materialize. Further announcements will be made
as appropriate.
Source: Asia Resources Holdings Ltd.
SPC SACKS ULAANBAATAR RAILWAY EXECUTIVE DIRECTOR
The State Property Committee dismissed the executive director of Ulaanbaatar Railway, M.
Enkhsaikhan.
The Ministry of Industry and Agriculture proposed to invest MNT 330 million from the USD 1.5 billion
Chinggis bond sale into the construction of 30 to 40 kilometers of rail in various places. However,
Enkhsaikhan objected, instead wanting to spend the money for another project.
Both parties submitted proposals to the government, outlining their plans on how to spend the
money. An official source said ministry authorities were in a dispute with those of Ulaanbaatar
Railway over the matter. This resulted in Enkhsaikhan's dismissal by SPC, an organization within the
Ministry of Industry and Agriculture.
Source: News.mn
CLEAN ENERGY NAMED “BEST GREEN ENERGY” AT GREEN AWARDS
Clean Energy LLC, the renewable energy arm of Newcom Group LLC, was awarded "Best Green
Energy" award from the Green Awards 2012.
The event was organized by the Ministry of Environment and Green Development on 19 December.
The Green Awards aim to recognize and support individuals, organizations, and companies that
showcased creative approaches to sustainable development through implementing environmentally
friendly and efficient technology and products in the country.
Source: Newcom Group LLC
6. MONGOLIAN GROWTH GROUP REPORTS TO SHAREHOLDERS ON TSXV LISTING
Mongolia Growth Group delivered its monthly update to shareholders, highlighting its recent listing
on the TSX Venture Exchange (TSXV).
The company told shareholders it spent USD 300,000 for its listing on the TSXV. The company also
commented on its operations, noting that it has growth in its operations with 73 total employees,
eight of whom are foreign.
The company reported the disposal of investment property with a fair value of USD 519,065 for a
USD 45,065 gain. Rental revenues increased to USD 407,769. Quarter-end vacancies declined
moderately to 2.6 percent compared with 4.5 percent of rentable properties in the second quarter.
For its insurance operations, net premiums earned were USD 107,025. The total incurred insurance
claims totaled 72,793.
Source: Mongolia Growth Group
RIO TINTO BOOSTED BY IRON ORE RESURGENCE
Rio Tinto PLC, the main operator of the Oyu Tolgoi copper-gold project, will remain focused on
rolling back costs in spite of another strong performance for its highly profitable iron-ore business.
The miners said on Tuesday it had produced a record 253 million tons of the steelmaking commodity
in 2012 from its operations in Western Australia and Canada, a 4 percent increase on the previous
year and 3 million tons higher than a company guidance.
Seaborne iron ore, which contributes more than three quarters of Rio Tinto's annual profits, has
enjoyed a spectacular rally since September, rising 80 percent on the back of restocking by Chinese
steel mills and a cold winter in the country that has hit supply from domestic miners. From a low of
USD 86.70 a ton in September, prices hit USD 158.50 last week, a level last seen during the boom
days of early 2011 when the price of benchmark iron ore rose to almost USD 200 a ton.
In spite of the rally, Tom Albanese, Rio Tinto chief executive, said rolling back unsustainable cost
increases in ―volatile‖ markets remained a priority for the world's second-biggest iron ore producer.
―This further enhances our resilience and competitive edge as we enter 2013,‖ he said.
Rio Tinto's two most challenged businesses—Australian coal and aluminum—are expected to bear the
brunt of the cost-cutting. Indeed, in Tuesday's update Rio Tinto said it was ―actively reducing
controllable costs‖ in its Australian coal operations because of lower thermal coal prices, rising
costs, and the Australian dollar.
There was however another disappointing performance from Rio Tinto's copper division, its second-
biggest business. Although production rose 6 percent to 548,000 tons, it fell short of the company's
latest guidance. In October the firm lowered its annual copper production forecast by 20,000 tons
to 560,000 tons, primarily because of problems at the Palabora mine in South Africa, which it
recently agreed to sell to a Sino-South African consortium. On a more positive note, Rio said the
first ore had been processed at Oyu Tolgoi and commercial production was due to start by June
2013.
Source: Financial Times
RIO BOSS TOM ALBANESE STEPS DOWN AFTER USD 14 BILLION WRITE-DOWN
Chief Executive Tom Albanese stepped down by mutual agreement with the board, Rio Tinto PLC
said, and has been replaced by Sam Walsh, chief executive of the miner's iron-ore business. Rio
Tinto is the head of operations at the Oyu Tolgoi copper-gold mine.
In a statement, Rio Tinto Chairman Jan du Plessis said the scale of the write-down was
"unacceptable."
Around USD 3 billion of the write-down relates to Rio Tinto's coal-mining operation in Mozambique,
which only began shipping coal in June last year. The company's aluminum assets saw a write-down
in the range of USD 10 billion to USD 11 billion. This is largely related to the company's purchase of
Canadian aluminum giant Alcan.
Doug Ritchie, who led the acquisition of the Mozambique coal assets as head of Rio Tinto's energy
division, has also resigned.'
"Tom is really taking the blame for a couple of bad acquisitions," said mining analyst John Meyer.
7. "Alcan was a huge acquisition for its time. It was a raging bull market back then, [but] the world
then headed into recession... Rio Tinto didn't do its homework."
Source: BBC
ECONOMY
ROSNEFT SQUEEZES MONGOLIA FOR MORE CASH AT THE PUMP
Russian oil giant Rosneft has once again put pressure on Mongolia with fuel price hikes.
Rosneft issued a notice that said it planned to increase the price of diesel by USD 90 a ton and other
fuels by USD 30 a ton. The country is still reeling from the MNT 50 to MNT 100 hike in fuel prices
last December. That hike in prices effected a similar MNT 50 to MNT 100 price hike in commodity
goods, as many of Mongolia's goods are imported from abroad.
Mongolia has been heavily dependent upon Russia for fuel since the collapse of the former Soviet
Union. If Mongolia were to refuse the payment, it would see itself without fuel reserves by
February.
Source: News.mn
GOVERNMENT COMMISSIONS CONSTRUCTION OF OIL REFINERY
The Mongolian government has decided to build the country's first oil refinery by 2015.
The state-owned refinery in the central Darkhan area will be built by Japan's Toyo Engineering
Corp. with Mongolian companies as sub-contractors. It will be able to process two million tons of
crude oil per year.
Mongolia will soon start negotiations with Japanese banks to obtain loans for the refinery. Around
90 percent of the petroleum products it now consumes are imported from Russia.
Source: Zeenews
ECONOMIC GROWTH MODERATES TO 12.3 PERCENT AS COAL EXPORTS SLOW
Mongolian economic growth slowed last year to 12.3 percent after moderating expansion in China
curbed demand for its exports of coal.
Gross domestic product (GDP), as measured by production, grew last year to MNT 13.9 trillion, the
National Statistical Office said. The country's exports fell 9 percent to USD 4.38 billion and imports
rose 2.1 percent to USD 6.74 billion, resulting in a trade deficit of USD 2.35 billion.
A mid-year decline in the price of coal, the nation's biggest export product, was the largest reason
for the slowdown from 2011's record of 17.3 percent pace of expansion, said Coralie Gevers, the
World Bank's Country Director for Mongolia. Slower economic growth in China, which buys 92
percent of Mongolia's exports, also contributed.
"There was a global slowdown which they could not avoid," particularly a drop in the coal exports to
China, Gevers said in a telephone interview from Ulaanbaatar. The growth rate "is along the lines of
what was expected by the International Monetary Fund (IMF) and World Bank. It's still among the
highest rates in the world. GDP growth is not going to be a problem over the next few years."
Measured by expenditures, Mongolia's GDP expanded 12.2 percent to MNT 14.6 trillion, according to
the statistics bureau. Gevers said the World Bank uses GDP figures measured by production for its
analysis.
However, Dale Choi, an analyst at private equity company Origo Partners PLC, said last year's
growth is a concern.
"A lot of this is from investment stalling, a weak external environment and a weak internal
environment as well," Choi said.
Source: Bloomberg
ADDED INVESTMENT DRIVES SPENDING FRENZY
The added injection of funds has helped drive government spending beyond the limitations
Parliament set for itself.
8. The World Bank has projected that budget spending would increase 28.9 percent from last year to
MNT 7.2 trillion in 2013. The additional spending would expand the budget by nearly 40 percent.
However, the government has an expected MNT 445 billion from amendments made to the Oyu
Tolgoi investment agreement. Furthermore deficit spending is expected to reach 6 percent of GDP
in addition to a 17.9 percent increase in borrowing from the budget.
The sudden 50 percent growth in investment has been explained to be playing a major role in the
increased spending.
Source: Zuunii Medee
ENERGY MINISTRY TARGETS ENERGY SAVINGS FOR 2013
The Ministry for Energy has declared 2013 as the year it aims to save energy.
Mongolia currently provides 414,000 households with electricity via seven power plants and a
number of sub-stations in five regions. Electricity use has increased 8 to 10 percent a year as
Mongolia's economy accelerates year-by-year. There is a total of 700 to 780 megawatts of energy
produced compared with 860 to 865 megawatts of energy consumed.
According to Energy Minister D. Sonompil, construction of Power Plant No. 5 will begin within the
first quarter of 2013. Also, energy prices are expected to rise, with a MNT 50 billion gap between
the cost of energy production and how much consumers pay.
"There will be no increase for households where electricity use is lower than 200 kilowatt hours,"
said Sonompil. "According to a survey, almost 80 percent of customers use less than 200 kilowatt
hours of electricity.
Source: News.mn
MEAT RESERVES TO BEGIN SALE ON 1 MARCH
Officials announced that meat from national reserves would be sold at 130 chain stores throughout
Ulaanbaatar beginning 1 March.
Currently almost 60 percent of the 12,000 tons of meat planned for distribution has been reserved.
In past years meat reserve programs involved many companies, but this year only Just Agro LLC will
take part.
Meat will only be sold to customers with vouchers to ensure fair distribution. The vouchers can be
obtained from district government offices.
Source: News.mn
NSO PREDICTS MONGOLIAN POPULATION TO REACH THREE MILLION BY 2017
The National Statistical Office (NSO) updated its projected population between 2010 and 2040,
predicting that the population could grow as high as three million in 2017 in one report.
The projection was made based on the nationwide population and property census of 2010. Experts
said that the census would be helpful to develop a demography and economical program. Over six
different versions of the projection have been compiled. The first projected the population would
reach three million by 2017 and 3.9 million by 2040.
The report also predicts that the elderly population would grow while births would fall. The aging
trend in the population is expected to really take off in Mongolia beginning in 2030. By 2040 7.9
percent of the population would be in the elderly category, which is twice today's elderly
population.
The report also predicts that the number of women will be higher than men. It named Zavkhan
Aimag to likely be the least densely population province, with a population two times less than
today's. Contrastingly, Umnugobi Aimag's population is projected to double.
Source: News.mn
MONGOLIA CONFRONTS MODERN MALAISE
The world's coldest capital is seeing the downside of its country's rush from nomadism to modernity.
The air in Ulaanbaatar is choked with smoke from fires that now-settled nomads burn in their
homes to stay warm in minus 30-degree Fahrenheit weather. Traffic is so bad from all the new car
9. owners, it is faster to bundle up and brave a 10-minute walk than to drive short distances. Mongolia
has gone from post-Soviet basket case to one of the world's fastest growing economies, thanks to a
mining boom.
Besides the pollution and the traffic gridlock, a backlash has developed against the mining
investments meant to enrich the country. Many people are concerned the big projects give away
too much to the Chinese. And the big mining wealth is not trickling down to everyone. While the
economy grew 17 percent in 2011 and around 12 percent last year, unemployment is 9 percent and
a third of the country's 2.8 million people live in poverty.
A proposed mining law that looks to more tightly regulate mining and an already-passed foreign
direct investment legislation that regulates foreign ownership of strategic assets has already dried
up investment since mid-2012. Even as foreign investment has slowed, Ulaanbaatar has seen an
influx of urban migrants attracted by the prospects of jobs, a more modern lifestyle and education
for their kids.
A new bridge built with aid from the Japanese government opened last year, spanning the railway
tracks that bisect the city. The new connection set off a real estate frenzy. But across town, a
quarter of Ulaanbaatar's population live in traditional gers or in rudimentary concrete houses,
jammed together onto hillsides. After an influx of population from the steppe, Ulaanbaatar now
holds more than 40 percent of the country's people, up from about 30 percent of the population at
the start of the millennium.
Source: Wall Street Journal
U.S. EMBASSY‟S ASSESSMENT OF DEVELOPMENT OF INVESTMENT CLIMATE
The government has consistently said it supports foreign direct investment. However investors
assert that Mongolia's support for foreign investment seems more an aspiration than a reality.
Investors report that government has shown a declining commitment to the transparent rule of law
and free market principles regarding resource extraction. Observers argue that the 2012 Strategic
Entities Foreign Investment Law's (SEFIL's) full impact remains unclear. Investors worry that the law
may bar them from participating in key sectors of the Mongolian economy or force divestment of
Mongolian assets and equities in the affected sectors.
The Oyu Tolgoi copper-gold project has brought over USD 7 billion in capital technology, jobs, and
tax revenues to Mongolia through 2012. But doubts persist over the government's commitment to
honoring the Oyu Tolgoi investment agreement and its ability to manage public expectations over
mining revenues and related development. In addition, delays in striking deals on the Tavan Tolgoi
coking coal deposit and delays in reforming Mongolia's Securities Law and its equity markets spur
concern that the government lacks both the will and the capacity to execute multiple reforms and
projects.
Investors also suggest that Mongolia's ambivalence to foreign investment may be driven by the
government's aim to create state-owned national mining champions for coal, uranium, copper, and
rare earths. They also argue that its processes for crafting both laws and regulations negatively
impacts foreign investment. A key concern is that the proposal to amend a given law seems to
freeze, or at least significantly slow, the Mongolian regulatory process. For example, the ongoing
amendment process to the 2006 Minerals Law has adversely affected the regime for issuing
exploration and mining licenses.
The government claims it must amend laws for resource extraction to ensure that Mongolia gets its
fair share of revenues from such activities; and to ensure that investors and operators fulfill their
environmental obligations and corporate social responsibilities to the national and local
communities in which they work. Faced with a restive public, the government amends both statute
and regulation to gain more revenue and to quell public unease. This process has been extremely
chaotic, characterized by abrupt, non-transparent attempts to change the law.
Source: U.S. Embassy to Mongolia
HARSH WINTER PUTS HARVEST UNDER PRESSURE
Mongolia is bracing itself for a colder-than-average winter following a harvest that, while strong,
10. failed to meet agriculture targets. Severe weather conditions are raising fears of a dzud, otherwise
known as a summer drought and severe winter, which in previous years ravaged Mongolia's herds
and sent agriculture output spiraling.
Prospects of a harsh winter are likely to increase pressure on the short harvest season. Cereals and
wheat both fell short of their targets this year, albeit by just 10,000 tons, although the potato
harvest of 232,000 tons exceeded its 209,000-ton goal. Preliminary results suggest the country also
notched up 100 percent self sufficiency in wheat crops this year, while achieving 52 percent in
―other major food items.‖ Achieving self sufficiency is a major aim of the ministry.
The government may hope that a deal signed in November to lease 10,000 hectares of land in Laos
for various uses will make a significant step forward in tackling the issue of food security. Also, a
law passed in June 2011 established a state-run commodities exchange to help determine fair
market pricing and encourage farmers to form independent cooperatives. However, the initiative
has been hit by delays, which sparked protests from food producers in October and prompted
Industry and Agriculture Minister Kh. Battulga to blame its suspension on a poorly designed legal
framework.
The government is calling for a united stance among industry players to address key agricultural
issues such as price volatility, improving technology, and achieving greater self sufficiency.
However, while joint efforts are likely to make more headway, the government will need to offer
businesses better protection against outside speculators and more attractive incentives if it is to
boost private-sector participation.
Source: Oxford Business Group
LENIN STATUE VALUED AT MNT 55 MILLION TO BE AUCTIONED
The Property Assessment Center has valued the statue of Vladimir Lenin that was recently removed
at MNT 55 million and is holding it for auction.
The statue was removed from the front of the Ulaanbaatar hotel last year by decree of the City of
Ulaanbaatar. The auction is expected to be held soon and will last 30 days.
The monument is now held in city storage awaiting auction.
Source: Udriin Sonin
STEEP CHANGE AS U.S. MEDIA BRING GLITZ TO MONGOLIA
Every time a new Mongolian-language edition of Cosmopolitan magazine is released, Ts. Erdenkhuu
sits down with a friend to explore a monthly dose of Hollywood gossip, glitzy fashion and
scintillating sex.
"They talk about sex a lot in this magazine, like what position is healthy or how to make men go
crazy," said the 28-year-old businesswoman, a single mother.
The titillating revelations are just part of a U.S. media invasion of the once remote country, which
has ridden a globalization wave since shaking off communism two decades ago.
The U.S. financial news agency Bloomberg set up a joint-venture television station in Ulaanbaatar in
October, aimed at the city's emerging financial kingpins and ordinary people looking for advice on
what to do with their free government-issued shares in state-owned mining companies. The
Mongolian-language National Geographic is also making an impact, despite its steep cover price of
MNT 20,000. The Mongolian version of Playboy has also found its way to supermarket checkout
stands, selling some 3,000 copies of the inaugural October edition.
Mongolia has 2.75 million people spread across an area half the size of India, and its media
landscape is as wild as its physical one. The new magazines compete with dozens of local
publications, many of them trashy tabloids filled with sex scandal, soft porn and yellow journalism,
often with unsourced facts. Some owners of major daily newspapers have family or friendship links
to top politicians. But the arrival of U.S. media can only raise local reporting standards, said Kh.
Judger, a journalism instructor at the capital's University of Humanities.
"Mongolian media stations are all private and politicians own many of them. So they can't inform in
an unbiased way or make objective programs," she said.
Cosmopolitan and Playboy split about 50-50 between locally produced and U.S. content, while
11. National Geographic is mostly translated. Around 4 hours a day of Bloomberg TV is local, and the
rest translated from Hong Kong.
For now they are more emblematic of a social transformation that is already seeing young upwardly
mobile Mongolians challenge traditional norms of dating, career choice, and lifestyle.
Source: MENAFN
IRON-ORE STEADY AT 15-MONTH HIGH; CHINA IMPORTS HIT RECORD
Iron-ore, one of Mongolia's lesser mineral exports, stayed at 15-month highs, backed by tight
supplies of spot cargoes and firm Chinese demand, although some buyers are starting to step back
from the market following a recent rapid rise in prices that have lifted their costs.
Iron-ore prices have jumped more than 80 percent from three-year lows in September following a
revival in demand from top buyer China whose monthly imports topped 70 million tons for the first
time in December. China imported 70.94 million tons of iron ore last month, bringing purchases to a
record 743.6 million tons for all of 2012, customs data showed. The fall in iron ore prices during the
third quarter triggered a return of Chinese buyers into the market, said Nick Trevethan, senior
commodity strategist at Australia and New Zealand Bank.
―I think it's very optimistic in terms of the price action, and also partly reflects greater confidence
in the Chinese economy, given important data,‖ Trevethan said. ―We might see some strength
continuing into January as well but not at the same tempo as in December.‖
One northeastern iron-ore trader said the ore was too expensive for steel mills to restock, and
demand would fall. But a possible disruption of shipments from top iron-ore exporter Australia
where the first cyclone of the country's storm season is intensifying, could keep spot prices
supported. Restrained Australian shipments, slower iron-ore output in China due to cold weather
and a pickup in Chinese steel demand may keep Beijing's iron-ore import appetite strong, and with
it global prices.
―Some people are warning of a big correction in iron-ore prices, but we think demand is going to
remain quite solid going forward because of recovering steel demand and new steel capacity coming
onstream,‖ said Henry Liu, analyst at Mirae Asset Securities.
Source: Mining Weekly
AS CHINA'S ECONOMY REVIVES, SO DO FEARS OF INFLATION
After a sharp economic slowdown through much of last year, China's economy is growing again—but
not at its previous double-digit pace, and with signs that inflation might become a problem again.
Prices rose faster in December, according to government data released Friday. Consumer prices
rose 2.5 percent from the level of a year earlier, their fastest pace since May. Economists inside
and outside China say the true rate of inflation is as much as double the official rate, because of
methodological problems in the way China calculates inflation. Producer prices are still declining,
but at a slower pace. They were down 1.9 percent in December from a year earlier, the smallest
drop since last May.
China is awash in cash as the government has expanded the broadly measured money supply over
the past five years much more rapidly than the United States, even though the U.S. Federal
Reserve's measures have attracted more international attention. China's money supply is now larger
than that of the United States, even though China's economy is half as large as the U.S. one.
Powering a recovery in China's construction sector this winter, for example, is strong overall growth
in credit, as businesses and households are starting to find it easier to borrow.
Until the past several years, China seemed to be expanding its factories so fast and bringing workers
into cities so quickly that it could sustain rapid growth just by fully using those factories and
workers. But an emerging labor shortage, particularly of young workers, has changed that picture.
The country's ―one child‖ policy and more years spent in school have meant fewer young people are
entering the labor force. The Chinese economy remains dominated by manufacturing and factory
overcapacity still exists in some sectors.
At the same time, the labor-intensive service sector is growing rapidly and has far less overcapacity
that can be used without causing inflation. Rebounding exports and construction have also
12. increased demand for low-wage workers.
Source: New York Times
BEIJING AND LONDON: SMOG IN TWO CITIES
By uncanny coincidence, the record-breaking pollution that has enveloped Beijing comes almost 60
years after London's Great Smog of 1952, the worst case of air pollution in British history. Although
Beijing suffers from terrible pollution, the much smaller Ulaanbaatar is even worse off and can
learn from the same lessons.
On Tuesday, Beijing authorities were reporting that the city's pollution levels were easing after the
record levels of the previous three days. Every resident knows it is only a matter of time before the
smog returns. But there are clear signs that officials are finally admitting to the seriousness of the
challenge.
Environmentalists Dai Qing told Bloomberg: ―For so many years we all tried to do something and the
authorities gave us no reply. But once people have no water, no air, no land—something will
happen. It's very dangerous.‖
But the precedent of advanced economies, including Japan as well as Europe and the United States
suggests that sooner or later, public concern over pollution will force the authorities to act. So it
was with the Great Smog. At the time Londoners did not see it as much different to previous ―pea-
soupers‖ or indeed those that came subsequently. It lasted just four days, 5 to 9 December. But
public opinion changed when government medical reports estimated that 4,000 people had died
prematurely as a result of the Great Smog and a further 100,000 had fallen ill. Later research
showed that even this was a big understatement—around 12,000 actually died.
The Great Smog was followed by a succession of laws, which culminated in the 1956 Clean Air Act.
Factories were ordered to reduce smoke emissions and householders were encouraged to switch
from coal to clean-burning coke or to gas. There was to be one more big smog, in 1962. But slowly,
modern practices took hold, particularly with the spread of gas-fired central heating from the late
1960s.
China, and Mongolia, should take this story to heart. Even the worst environmental challenges can
be tackled. But even with political will and sufficient resources, it takes decades to create
acceptable living conditions.
Source: Financial Times
POLITICS
MINING LEGISLATION NEEDS TO PROMOTE “ECONOMICALLY VIABLE MINING”
Nomadic sheep herders still pack a lot of political clout in Mongolia. Fully a third of the country's
3.2 million people work in the agriculture sector while 80 percent of those are involved in pastoral
pursuits—predominantly sheep herders and horse traders. But the nomadic pastoralists rarely see
eye to eye with the burgeoning mining sector, although they are very comfortable indeed with the
largess the sector provides.
President Ts. Elbegdorj announced in Parliament late last year a package of laws on mining is to be
developed while further amendments will also be made to existing laws.
―This will include issues concerning citizens' rights, income distribution, the environment, and
ultimate closure of operations,‖ he proclaimed. ―In the case of any exploration being made with
funds from the state budget, more than 51 percent of the deposits will be under the ownership of
the Mongolian state or local entities. Even if the entire exploration costs are met without any state
budgetary support, at least 34 percent of the ownership will be in Mongolian hands.‖
The president's office released the new draft Minerals Law in December and the Business Council of
Mongolia (BCM) has responded with a four-page summary along with a 200-page clause-by-clause
critique. From a macro-level BCM suggests the draft law is substantially contrary to its first article
which states its purpose is to ―promote economically viable mining‖; fails to fit the framework of a
world-class mining industry; and will make it impossible for the government to meet its
13. commitments to the people for greater growth and prosperity.
―The significant increase in regulation and intruding state control is an unwelcome departure from
the free-market principles that have so effectively benefited Mongolia since 1990,‖ BCM argues.
―The impact of the draft law on the mining industry will be to halt current exploration and
development in Mongolia, and greatly discourage any future investment.‖
Of particular concern to coal industry analysts is that many of the proposed articles in the draft law
allow the state (locally or nationally) to acquire an area, deposit, land or license from a license
holder with the obligation to compensate only for actual expenditures undertaken. BCM argues the
circumstances under which the government may exercise this right are too subjective and loose and
therefore create a high degree of uncertainty for development proponents.
Mongolia has a lot to lose—the Mongolian Mining Journal reports coal mining production has risen
rapidly since 2004 when the current resource boom and export rush began to generate momentum.
In 2011 total coal production was 32 million tons with over 66 percent heading for the export
markets. A bearish market has seen Mongolian coal production slump to 14.3 million tons in the first
seven months of 2012, 7 percent less than for the same period on 2011.
Source: Inside Coal
MONGOLIA'S PROPOSED MINERALS LAW TO AFFECT MINING
Mongolia's proposed new Minerals Law threatens foreign investment, warns the Business Council of
Mongolia (BCM). BCM's 250 members include mining giant Rio Tinto PLC—whose Oyu Tolgoi copper-
gold project is expected to account for about 30 percent of Mongolia's gross domestic production
(GDP) when it reaches full production—Peabody Energy Co., General Electric Co., and Mitsubishi
Corp.
While year-end statistics have not yet been released, just in the first half of 2012 Mongolia's
economy grew 13.2 percent, figures from the government show. Mineral product exports account
for more than 90 percent of Mongolia's exports. Dale Choi, an associate with private equity
investment firm Origo Partners MGL, said the proposed law would make mining projects aligned
with the interest of the state. Also settlements as small as a village would be allowed to decide
whether or not to accept prospecting and exploration on land near them, Choi said.
"Nobody expected that the law would be so tough on mining," Choi said, adding that the majority of
the population might be in favor of the law, particularly because local people feel they do not
directly benefit from mining as does the country as a whole.‖
The proposed new law is also seen as an attempt to boost support for the re-election of President
Ts. Elbegdorj in the country's presidential elections, slated for May. In their election campaign last
summer, many members of Parliament said they would get tougher on foreign miners.
In a report on Mongolia's evolving foreign investment regime for the East Asia Forum, Julian Dierkes,
associate professor at the Institute of Asian Research at the University of British Columbia, said
"Where foreign investors see resource nationalism, Mongolians see an attempt to preserve the
resource wealth of their country and to reap its benefits for current and future generations."
He added there was a sense that Parliament was having a "knee-jerk nationalism" reaction, "with
some leaders ignoring the fact that ownership of mineral resources does not necessarily lead to
profit."
Source: UPI
MINING MINISTER CONSIDERS NATIONALIZING BAGANUUR MINE AND ASGAT DEPOSIT
Mining Minister D. Gankhuyag is leading a fact-finding mission to decide if the Baganuur mine and
Asgat deposit should be included in the government's list of strategically important deposits.
The minister established a working group to research the matter with results expected for the near
future. Since its establishment in 1978, the Baganuur mine has provided the fuel for 60 percent of
all the power generated in the country. The Asgat silver mine located at Nogoon Nuur Soum, Bayan-
Olgii Aimag has a 2,247.8 ton resource of unspecified metals, 72,646.6 tons of copper, and 2,631.6
tons of silver.
Source: Zuunii Medee
14. HEALTH MINISTER DISMISSES HEALTH CARE HEADS
Health Minister N. Udval announced the dismissal of the heads of state hospitals and medical
centers linked to the ministry. The minister ordered State Secretary J. Khatanbaatar to run a 10-
day listing for replacements to the posts.
Udval charged the state hospital heads with the responsibility to attend to their duties and work to
reform the medical services system so they meet international standards. The reform of the health
policy in Mongolia means that some staff at the Ministry of Health will have to be let go, said the
minister. Udval said she wanted to avoid conflicts of interest within state medical care facilities.
Source: News.mn
FORMER HEADS OF ANOD BANK SENTENCED TO PRISON
A court sentenced four directors of Anod Bank and a former head of the Bank of Mongolia to prison.
A panel of judges sentenced Anod's head of management, E. Gur-Aranz, and the chief executive. D.
Enkhtur, each to eight years in prison. A member of the management board, N. Davaa, and the
chairman of the secretariat office, L. Ulambayar, each received six years. The former central bank
monitoring board director, J. Ganbaatar, and N. Oyuntsetseg each received five years.
Each prisoner was charged with defrauding shareholders and misappropriation of funds in savings
accounts at the bank. The panel of judges dropped the charges against B. Enkhkhuyag, a former
central bank first deputy director.
Source: News.mn
21 CABLE BROADCASTERS FAIL INSPECTIONS
Authorities issued warnings to 21 cable television stations that failed inspections.
The Information, Communication, Post and Technology authority reported at a press conference
that it conducted industry-wide inspection along with the Authority for Fair Competition and
Consumers' Protection (AFCCP) and National Police Department. They said the 21 stations should
have had their operations closed or suspended, but instead were just issued the warnings under the
condition they would have to make improvements by 1 March. After that date authorities would
take further measures, they said.
Currently 44 cable television stations operate in Ulaanbaatar. A further 40 channels have been
granted broadcast rights and are looking for licensing, said B. Balgansuren, chief of the
Communication Regulatory Commission.
Source: News.mn
MONGOLIAN AMBASSADOR SUBMITS CREDENTIALS TO PRESIDENT OBAMA
Mongolia's newest ambassador to the United States handed his credentials to U.S. President Barack
Obama on 14 January.
When Ambassador B. Altangerel met with Obama, he remarked on the friendly relations between
the United States and Mongolia and how they have benefited from Mongolia's Third Neighbor Policy.
Obama noted that their universal values for democracy and mutual interests were the linchpin to
the Mongolian-U.S. relationship. He thanked Mongolia for its support in Afghanistan, Iraq, South
Sudan and elsewhere where Mongolian troops had aided American military.
He also congratulated Mongolia on its ascension as a member nation in the Organization for Security
and Co-operation in Europe (OSCE). He noted the important role Mongolia plays in the group and
the value of the country in international peace, cooperation, and development.
Source: Unuudur
TUVA TO OPEN REPRESENTATIVE OFFICE IN UB
Tuva's director of foreign services said an agreement was made to open a representative office in
Ulaanbaatar for the nation.
Chilgyhcy Ondar said the agreement was made with Ulaanbaatar's deputy mayor, N. Gantumu,
during his recent visit to Mongolia. He said the representative office would open in March 2013 and
would contribute to political, economic, and cultural cooperation between Mongolia and Tuva, in
15. addition to opportunities with China.
Also during his visit, Ondar discussed with the new Uvs Aimag Governor G. Bolor-Erdene about the
possibility of exporting coal to Tuva.
Source: Unuudur
CHINA, MONGOLIA TO DEEPEN COOPERATION IN MINING, ENERGY SECTORS
China and Mongolia have broad prospects to deepen cooperation in mineral resources and energy, a
senior Chinese official said Tuesday.
Zhan Xiaoqiang, deputy director of China's National Development and Reform Commission, said the
two countries should enhance cooperation in mining and energy areas through joint development of
big mining projects and construction of transportation infrastructure. Zhang made the remarks at
the third meeting of the China-Mongolia cooperation commission on mineral resources and energy.
Boosting cooperation in mineral resources and energy, which account for the bulk of China-Mongolia
economic and trade relations, is in the interest of both countries and can help Mongolia turn its
advantages in resources into economic development, Zhang said. Mongolian Mining Minister D.
Gankhuyag highlighted the rapid development of Mongolia-China economic and trade cooperation,
saying that Mongolia has seen Chinese investment rapidly increase in the country in the last few
years.
The minister also suggested the two sides strengthen cooperation in deep processing of resource
products and adopt measures to solve difficulties in coal transportation.
Source: Xinhuanet
KAZAKHSTAN, MONGOLIA SIGN EXTRADITION TREATY
Kazakhstan and Mongolia signed an extradition treaty on 16 January.
Kazakhstan's general prosecutor, Askhat Daulbayev, noted that this document would serve the good
of the citizens who had faced criminal prosecution. Mongolia's prosecutor general, D. Dorligjav,
thanked his Kazakh counterparts for the warm reception and expressed a willingness to deepen
bilateral ties.
―We have agreements with Mongolia about cooperation in all spheres, exchange of experience,
issues for defending the rights of Kazakhstan's citizens, as well as the rights of Mongolian citizens in
Kazakhstan,‖ said Daulbayev. ―I think that this cooperation will be helpful for our legal systems.‖
Dorligjav said Mongolia had such agreements with other countries, and said the partnership would
be of benefit to both nations. During his visit, Dorligjav also visited Kazakhstan's Committee on
Legal Statistics and Special Records. The prosecutor generals also discussed professional issues that
concerned both their countries.
Source: Kazakh TV
WOMEN UNDERGO HUNGER STRIKE FOR ENKHBAYAR
Supporters of former president N. Enkhbayar were on hunger strike for 150 hours on 16 January at
the office of the Mongolian People's Revolutionary Party (MPRP), which he leads.
Four of the seven women were on hunger strike at the 150-hour mark, demanding for Enkhbayar's
release from prison. Two protesters were delivers to Sukhbaatar District Hospital due to health
problems.
Enkhbayar's supporters said another five women from the countryside will join the strike. They have
been advised to first seek an evaluation from a doctor before participating.
Source: News.mn
MONGOLIA MAKES INCREMENTAL IMPROVEMENT IN ECONOMIC FREEDOM INDEX
Mongolia slightly improved its ranking in the 2013 Index of Economic Freedom, published annually
by the Wall Street Journal and the Heritage Foundation.
Out of 177 countries evaluated, Mongolia ranked at 75th place, with a numerical score of 61.7, two-
tenths of a point above its 2012 score. That is high enough to be categorized as ―moderately free‖
and above the global average score of 59.6.
16. The regional average for Asia is 57.4. Mongolia ranked seven places below Kazakhstan but above
Slovenia, Ghana, Croatia and Uganda. For the 19th consecutive year, Hong Kong was ranked first
globally (89.3 points), followed by Singapore in second, then Australia and New Zealand. North
Korea ranked last with a point score of 1.5.
Mongolia's neighbors, Russia and China, ranked 139th and 136th, respectively.
The index evaluates countries in four broad areas of economic freedom: ―rule of law,‖ ―regulatory
efficiency,‖ ―limited government,‖ and ―open markets.‖ Based on its aggregated score, a country
was classified as ―free,‖ ―mostly free,‖ ―moderately free,‖ ―mostly unfree,‖ or ―repressed.‖ The
world average score of 59.6 was only one-tenth of a point above the 2012 average.
Source: NAMBC
GOVERNMENT BANS SAKER FALCON TRADE FOR FIVE YEARS
Mongolia announced a five-year ban on the export of its iconic but threatened Saker falcons
Saturday.
The government said in a press release the decision was aimed at increasing numbers of the bird,
which has an important position in Mongolian history and culture. It estimated about 6,800 falcons
were present in Mongolia during summer months but most depart for the winters.
Sakers play an important role in Mongolia's traditional herding life, keeping the ecological balance
by eating pastureland rodents such as mice. The country's national bird, Sakers have been exported
to Gulf countries such as Kuwait and Bahrain. They are also illegally caught and sold abroad for high
prices by poachers, which the government has sought to fight through law enforcement agencies.
Source: Xinhuanet
DP PROPOSES LAND ACQUISITIONS FOR ROAD DEVELOPMENT IN GER DISTRICTS
The Democratic Party (DP) has submitted a bill for the expropriation of land in Mongolia for road
development.
The bill proposes that the government purchase private land for the development of roads in the
ger districts of Ulaanbaatar. It is expected to be one of hot controversy.
Source: Udriin Sonin
BILL PROHIBITS FOREIGN ASSETS FOR GOVERNMENT OFFICIALS
A member of Parliament has drafted legislation that would prohibit high government officials from
having real estate and bank accounts in foreign countries.
MP J. Batzandan said he wrote the legislation as an amendment to the Law on Conflicts of Interest.
In addition to the aforementioned prohibitions, officials would be unable to partake in the
operations of foreign companies or purchase shares of foreign companies. Any official with a foreign
spouse or child would have to have them change their citizenship to Mongolian.
Mongolia now has 150 high-level officials in government.
Source: Zuunii Medee
DINOSAUR FOSSILS RETURN TO NEW MONGOLIAN MUSEUM
The dinosaurs fossils recovered after being illegally smuggled into the United States will be part of
a new museum's exhibits.
They will join about 500 dinosaur skeletons at the country's Paleontological Center of Academy of
Sciences and Natural History Museum to form the core of a new museum dedicated exclusively to
dinosaurs, Xinhua News Agency reported Sunday.
The new museum, dubbed the Central Dinosaur Museum of Mongolia, will include Tyrannosaurus
baatar and Saurolophus and Oviraptor fossils smuggled illegally to the United States and being
returned to their homeland by the U.S. government. The 70-million-year-old Tyrannosaurus skeleton
unearthed in Mongolia's southern Gobi Desert was sold at New York Auction for more than USD 1
million, but was seized by the U.S. Department of Homeland Security after Mongolia said it was
illegally smuggled.
Source: UPI
17. PROTECTING MONGOLIA‟S CIVIL LIBERTIES
The Mongolian constitution protects citizens' rights, and a market economy can only flourish when
there is a true democracy. To maintain those rights, it is up to the people to stand together as one
and fight against intrusions from government.
At times rights are partially sacrificed in interests such as security. Such a situation exists today in
Mongolia where safety and freedom must be carefully balanced. In 2011, a total of 141,000 crimes
were reported, with 22,000 of them registered with police authorities. As the country continues to
develop and grow, crimes such as smuggling, money laundering, and human trafficking are almost
certain to become more common. To combat these crimes the nation will have to take some pre-
emptive measures and learn from experience.
The organizations people expect to fight against crime do nothing but make a fuss long after a
crime has already occurred. Claiming that they are working in the interest of preventing crimes, the
government is now trying to acquire access to the personal information of citizens and infringe upon
their liberties. Could this snowball into officials spying on citizens and create an Orwellian-type
future for the country?
Shortly before New Year's Day, Mongolia saw its first-ever kidnapping. After the kidnapper hid his
number when calling for the ransom, the police ordered the mobile network company to release the
number. When the company delayed its compliance, saying it would need the proper
documentation to do so, the company's executives were detained for "causing disruptions in the
investigation process."
Your phone calling history is protected by the Confidentiality Law in the same way your bank
statement is. This is the same law that those executives followed—yet they were still detained
afterwards. Their detention is a violation against the civil liberties of Mongolia, and we, the citizens
of this country, must fight to protect them.
Author Dambadarjaa “De Facto” Jargalsaikhan is an economist specialized in banking and the stock
market. He is a management consultant in banking and financial organizations, with specialization
in strategic planning and competitiveness.
Source: UB Post
NEW MONGOLIAN LAWS
The following laws, amendments, addenda and annulment were published in the latest weekly
Government bulletin. Unless otherwise decided by Parliament, they will take effect ten (10) days
after publication.
Date Laws
11.01.2013 Law on Food /Revised version/
Amendments to Law on Statistics
Addendum to Law on Mongolia‘s administration, territorial unit, its administration
Addendum to Law on National Security
Amendments to Law on medicine, medical tools
Amendments to Law on salt iodine deficiency
Annulment of Law on Food
Law on Food safety
Amendments to Law on Quarantine supervision, inspection during transfer of animal,
plant, raw materials and products made from them through national border
Addendum to Law on Hygiene
Amendments to Law on Special permit to economic entity activity
Amendments to Law on Labor
Amendments to Law on Labor safety, hygiene
Amendments to Law on Employment support
Amendments to Law on Vocational education, training
18. Amendments to Law on Education
Amendments to Law on Prohibition of issuance of new special permit for mineral
exploration
Please visit BCM's website, Legislative Working Group, for a summary of new Mongolian laws. BCM
members who wish to access complete versions of the laws and regulations in Mongolian language
are welcome to email the BCM office: info@bcmongolia.org.
ANNOUNCEMENTS
COAL MONGOLIA 2013, 21-22 FEBRUARY, SS CONVENTION CENTER
DO NOT MISS THIS HUGE OPPORTUNITY
The Coal Mongolia 2013 3rd International Coal Investors Conference and Exhibition‘s main
objectives are to introduce new investment opportunities in coal exploration, production and
processing projects in Mongolia and bring in environmentally friendly, new and efficient
technologies, create lucrative partnerships. The Conference is presenting Mongolia‘s new
Government position on coal mining Investment policy and legal environment for the first time since
the election.
BCM is a supporting organization of Coal Mongolia 2013 and BCM members will have 10% discount for
registration. Please contact Saruul at saruul@bcmongolia.org or 317027 to get a special discount
code.
At this time, we give you huge opportunity to visit TWO major coal mine companies, not only in
Mongolia and also international, which are ―Erdenes Tavan Tolgoi‖ state-owned coal miner and
―Ukhaa Khudag‖ the nation‘s biggest coking coal exporter.
You can find out for more information and Field trip agenda from http://www.coalmongolia.mn/
index.php/field-trip.
___________________________________________
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
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
19. 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 18:50
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 18:50 to 19:00 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. It is an
honor to introduce you to the new version of the database which 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 are inviting 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 new ‗Presentations‘ section on BCM‘s Mongolian website can be reached via bcm.mn/itgeluud.
Several presentations already posted include the World Bank‘s Mongolia Quarterly Economic
Update–June 2012 and 11 speeches from the 2nd Coaltrans Forum, held on 23 to 24 May in
Ulaanbaatar.
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 BCM‘s December monthly meeting:
• Bayarmaa A., Carbon Finance Specialist, Clean Energy LLC, Newcom Group ―Case of Salkhit wind
farm CD CDM project‖
• 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‖
20. • 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 the ―2013 Mongolia Investment Climate Statement‖ by the
Economic and Commercial Section of the U.S. Embassy; ―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.
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 NETWORK 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 852 fans on our Facebook fans page, 1,040 connections on LinkedIn network, and 562
followers on Twitter.
Of course for news information, interviews, event photos, and announcements regarding our
organization, visit the official BCM websites at www.bcmongolia.org and www.bcm.mn.
BCM WORKING GROUP MEETING
The BCM`s Legislative Working Group met on Wednesday, January 16, with 33 members attending.
The WG was again expanded to include BCM members from mining companies and embassies.
Co-chairs James Liotta, MahoneyLiotta, and Bayar B, ELC LLC, moderated the session.
Meeting discussion was on the following topic:
- Draft Minerals Law`s top points.
Please contact erka@bcmongolia.org
22. 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]
December 31, 2012 *14.0% [source: NSOM]
*Year-over-year (y-o-y), nationwide
Note: 14.2% y-o-y, Ulaanbaatar city, December 31, 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]
CURRENCY RATES – January 17, 2013
Currency Name Currency Rate
US dollar USD 1,392.82
Euro EUR 1,849.73
Japanese yen JPY 15.81
British pound GBP 2,232.48
Hong Kong dollar HKD 179.66
Chinese Yuan CNY 224.06
Russian Ruble RUB 45.85
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.