market intelligence firm covering #Mongolia. Contact info(at)covermongolia(dot)com to subscribe to CoverMongolia NewsWire. Posted here with a two-week delay. Follow the news on twitter.com/CoverMongolia, facebook.com/CoverMongolia, instagram.com/covermongolia,
Mongolian companies form Consortium to bid for Tavan Tolgoi
April 27 (MongolianPortfolio) Mongolian companies formed a consortium to bid for Tavan Tolgoi. They have called it Mongol-999 and said any company depositing 1 million tugriks can join in the consortium. The biggest companies to join this consortium is "Max group", Jiguur Grand", and "Tavan Tolgoi Trans".
During the press conference their representatives claimed that PM S.Batbold has expressed his support for the group.
April 27 (MongolianPortfolio) Today stocks of 25 companies worth 56 million tugriks have been traded on MSE and Top-20 Index fell to 10214.5 by 150.6 points.
The five most traded stocks were: Online portal website Olloo.mn worth 11.5 million tugriks (up by 4%), Khukh Gan 10.7 million tugriks (up by 2.78%), cashmere maker Gobi 8.7 million tugriks (down by 3.18%), alcohol and beverages APU 5.8 million tugriks (down by -3.65%), coal miner Tavan Tolgoi 3.6 million tugriks (no change).
Polo's possible offer values Caledon at 129 mln stg
BANGALORE, April 27 (Reuters) - Australian coking coal producer Caledon Resources' (CDN.L) largest shareholder Polo Resources Ltd (POLO.L) made a possible offer for Caledon, which valued the company at about 129 million pounds ($199.3 million), to expand its coal-focused operations. ... http://www.reuters.com/article/idUSSGE63Q08120100427
Mongolia Approves Meritus Acquisition of Gold Property from Troy Resources
Apr 26, 2010 (TheNewswire.ca via COMTEX) -- Vancouver, British Columbia: Meritus Minerals Ltd (Meritus),(TSX- .MER) is pleased to announce that the Mongolian Government has approved the acquisition of Troy Resources Ltd's. (Troy),(TSX- TRY) subsidiary in Mongolia by Meritus as stated on 20/1/2010.
As required by law, the Mongolian Government has: i) Approved the purchase of Troy's shares in Troy Mongolian Alt Resources LLC (TMAR) by Meritus, ii) Approved the name change of TMAR to Meritus MGL LLC
Anti-protectionism conference kicks off in Istanbul
ISTANBUL, April 27 (Xinhua) -- ... Regarding significant changes in competition laws over the past decade, the report noted that all of the listed countries, except Mongolia and Poland, benefited from increased penalties, while 35 of them had changed laws to allow for greater investigative powers and greater leniency. ... http://news.xinhuanet.com/english2010/business/2010-04/28/c_13270072.htm