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May 25 (Trading Room - Australia) The Rudd government should take heed of Mongolia's failed attempt to impose a hefty windfall profits tax on mining companies, Ivanhoe Australia Ltd says. ... Peter Reeve, chief executive of Ivanhoe Mines' Australian arm, said domestic miners felt "kicked in the teeth" by the heavy-handed Resources Super Profit Tax proposal.
Parliament Adopts National Reform Plan for Livestock
May 25 (UB Post) Mongolian parliament last week adopted a national reform plan worth MNT1.4 trillion for the entire livestock industry.
According to the government-level program called “Mongol Mal” or National Livestock Program, more attention would be given to restore and preservation of quality of the core structure, selective breeding of the livestock industry, main backbone of the economy, and veterinary services of international standard to prevent and combat infectious diseases. ... http://ubpost.mongolnews.mn/index.php?option=com_content&task=view&id=4883&Itemid=36
Trade Union Urges Gov’t to Stop Manpower Export
May 25 (UB Post) Trade Unions last week appealed the government not to send migrant workers to South Korea as the country’s major mining projects would soon create tens of thousands of homeland jobs.
Thousands of Mongolians lined up last week at the outside of Ulaanbaatar’s social insurance offices, hoping to get job that will be paid by the minimum wage of Korean government standard, around US$1,000 a month. More than 20,000 applicants got registered in few days for the vacant position of 3,100 jobs in South Korea’s small and medium sized enterprises. ... http://ubpost.mongolnews.mn/index.php?option=com_content&task=view&id=4885&Itemid=36
CANADA STOCKS-TSX may open lower on weaker commodity prices
May 25 (Reuters) - Toronto's main stock index is expected to open lower on Tuesday as commodity prices were hammered by worries over Europe's banking sector and North Korea's threatened military action against the South. ... Industrial metals slid on Tuesday, with copper falling more nearly 3 percent on the back of a stronger dollar and worries the euro zone debt crisis could derail the region's already-fragile economic recovery. [MET/L] ... http://uk.reuters.com/article/idUKN2511916520100525
Bold move from Ivanhoe despite tax uncertainty
May 26 (Business Day - Australia) IVANHOE Australia is no fan of the Rudd government's proposed 40 per cent resource rent tax. But it is the first of the shell-shocked resource companies to commit to a ''new'' mine, despite the uncertainties surrounding implementation and the eventual form of the controversial tax.
Belarusian and Mongolian scientists to cooperate in materials science
MINSK, 24 May (BelTA) – Specialists of the materials science center of the National Academy of Sciences of Belarus and the Institute of Physics of the Academy of Sciences of Mongolia are expected to implement a number of joint research projects, BelTA learned from Alexander Zubets, the academic secretary of the materials science research center.