Monday, August 23, 2010

[cpsnewswire] [CPS NewsWire, Monday, August 23, 2010]

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at or +976-9999-6779.


(Mogi: My sincere apologies for lack of recent newswires)




Hunnu Coal upbeat about opportunities for Mongolian coal sector


(previously reported article posted on Original article can be found here)


Matthew Wood, chairman of Australia-listed Hunnu Coal, has echoed the warning of Ivanhoe Mines Chairman Robert Friedland that Mongolia could kill the Australian coal industry. He said the warning could become reality as South and Middle Gobi coking and thermal coal begin shipped to Japan and Korea within a few years. The company is presently advancing several promising Mongolian thermal and coking coal projects with minimal start up costs.

Link to article


(Mogi: CPS Securities was lead broker in Hunnu Coal’s February IPO on ASX)




Khan Resources sues Russia's ARMZ for C$300 million


August 20, BANGALORE (Reuters) - Khan Resources Inc has sued Russia's state-owned uranium miner ARMZ in the Ontario Superior Court seeking C$300 million in damages for alleged unlawful interferences in the Canadian explorer's Mongolian operations.


In a statement, Khan alleged that ARMZ and its affiliates interfered in the joint venture between Khan and MonAtom LLC -- Mongolia's state-owned entity -- and sought to eliminate Khan's mining and exploration licenses in the country, to help ARMZ proceed with its own joint venture with the Mongolian firm.


Khan has been facing problems from Mongolian authorities with regard to its flagship Dornod uranium project in the country.


"ARMZ has made no secret of its desire to acquire control of the Dornod uranium property in Mongolia," Khan's Chief Executive Grant Edey said in the statement.

Khan's stock, which has shed about 55 percent of its value so far this year, closed up 14 percent at 32.5 Canadian cents Friday on the Toronto Stock Exchange.


Link to article


For Marketwire News Release click here




Mongolian PM: Mongolia attaches great importance to ties with China


ULAN BATOR, Aug. 19 (Xinhua) -- Mongolian Prime Minister Sukhbaatar Batbold said here Thursday that Mongolia and China were good neighbors and Mongolia attached great importance to developing its ties with China.


Batbold made the remarks when meeting Ma Xiaotian, deputy chief of general staff of the Chinese People's Liberation Army, who arrived here for the 5th China-Mongolia Defense Consultation.

Link to article


Related Article: China, Mongolia vow to strengthen military co-op




Mongolia, U.S. vow to enhance defense cooperation


ULAN BATOR, Aug. 20 (Xinhua) -- Mongolian Prime Minister Sukhbaatar Batbold and a visiting senior U.S. defense official reaffirmed their willingness to enhance cooperation in security and defense sectors, the Mongolian government said Friday.


Mongolia is working with the United States in strengthening international as well regional security and will extend their cooperation to help strengthen and maintain security in Asia and Pacific Rim area, Batbold said while meeting with Wallace Gregson, U.S. assistant secretary of defense for Asian and Pacific security affairs.

Link to article




Ts. Jargalsaikhan gets 17 years in prison for passing on secrets to China


August 21 ( Ts.Jargalsaikhan, advisor at the Foreign Relations Department of Parliament, has been sentenced to 17 years in prison for passing on through email to Chinese officials secret documents related to the Speaker’s visit to Russia. He is the son of D.Tsakhilgaan, a former Mongolian Ambassador to China.


Journalists were not allowed to attend the trial at the Chingeltei district court which passed the sentence  on Thursday. Two persons working at the Foreign Relations Ministry,  B.Bolor and G.Baigalmaa, were also charged in the case but were acquitted.


Link to article




Govt to Pay Half Year Students Tuition Fee


August 20 (UB Post) The Government is to pay for students’ tuition fee for second half of academic year from the Human Development Fund beginning from 2011, states the Prime Minister S.Batbold.

Students will have to pay for the first half of academic year by their own, clarified Prime Minister Batbold. 


Link to article




Excise Tax on Petroleum Changed


August 20 (UB Post) On Wednesday, cabinet meeting passed a decision to reduce excise tax on “A-80” petroleum imported through such border checkpoints as Sukhbaatar, Zamin-Uud, Ereentsav and Altanbulag. 

According to the decision effective from August 18, 2010, the excise tax on A-80 petroleum has been reduced from MNT220,000 to MNT150,000 per ton. The excise tax rate for AI-92 petroleum is subject to no change. 

The cabinet decision is due to Russia’s “Rosneft” Company’s announcement to increase price of petroleum products exported to Mongolia.


Link to article




Germany Adds More Euro3 Million


August 20 (UB Post) Germany has increased the amount of its official assistance to Mongolia from Euro24.1 million to Euro 27.1 million, announced the visiting German Minister for Economic Cooperation and Development Dirk Niebel when he met with Prime Minister Batbold in Ulaanbaatar.


Dirk Niebel is paying a visit to the country from August 19 to August 23, 2010 and is accompanied by parliament members Christel Happach- Kasan, H.Haibach, Ute Kumpf and other officials.

Link to article






Shares flat amid political snarl


August 23 (AAP) Close, Stocks have ended flat as the fallout of the federal election became no clearer, although miners rose as investors bet a proposed new tax on coal and iron ore profits may never be introduced.

Investors likely face a week's wait before they know who will form a national government and how independents will sway key policies like the mining tax.


At the close, the benchmark S&P/ASX200 Index was down 1.9 points at 4429, while the broader All Ordinaries Index slipped 1.7 points to 4460.4.



·         The Australian dollar recovers to above 89 US cents

·         In Japan, shares fall to nine-month lows

·         Gold ticks higher to $US1228.60

·         Oil tops $US74 in recovery

·         Dow futures are flat at 10,203

Shares in BHP Billiton were up 21 cents at $38.11, Rio Tinto had put on 62 cents to $72.20 and Fortescue Metals Group was steady at $4.64.

Link to article




Electorate against resources tax: miners


August 23 (The Age) AUSTRALIA'S mining community claims Labor has been sent a strong message against its resources tax and that Julia Gillard should abandon it if she manages to cling on to government.


As the election outcome hangs in the balance, miners nationwide were quick to point to swings against Labor in the resource-rich states of Queensland and Western Australia as evidence of a backlash against the minerals resource rent tax (MRRT) and the way it was handled.


In one of the few key policy differences between the two major parties, Labor has proposed a 30 per cent tax on some segments of the mining industry, funds from which would be redirected into infrastructure priorities. The Coalition would scrap the tax entirely.

Link to article






Most Asian Stocks Fall on Global Recovery Concern; Miners Rally


Aug. 23 (Bloomberg) -- Most Asian stocks fell amid mounting speculation the global economic recovery is faltering. Australian mining companies rose on optimism they will benefit from an election deadlock.

About three stocks fell for every two that rose in the MSCI Asia Pacific Index, which was little changed at 118.26 as of 3:19 p.m. in Tokyo. A gauge of consumer-related stocks in the index fell 0.6 percent, the second-biggest drop among 10 industry groups. A measure of material stocks rose 0.2 percent.


Japan’s Nikkei 225 Stock Average fell 0.7 percent, while South Korea’s Kospi index declined 0.4 percent. Australia’s S&P/ASX 200 Index was little changed after the nation’s federal election failed to deliver a majority government for the first time in 70 years.


Futures on the Standard & Poor’s 500 Index added 0.1 percent. The gauge declined 0.4 percent on Aug. 20 as a drop in commodities pulled oil and metals producers down amid concern the economic rebound may be flagging.

Link to article




Itochu Says Coal Trade to Double on China, India 


Aug. 19 (Bloomberg) -- Itochu Corp. said it will double coal shipments in the next five years as new mine investments and marketing agreements help Japan’s fourth-largest trader meet rising demand from China, India and Southeast Asia.


Annual shipments will probably jump to between 22 million metric tons and 24 million tons by the year ending March 2016, Koichi Kawaguchi, general manager at the company’s coal department, said in an interview. Sales to overseas customers will account for half of the total, compared with 10 percent now, he said.


Itochu is seeking to buy at least 20 percent of the Maules Creek coal project in New South Wales, and this year invested in a Mongolian coal trader. China last year imported a record amount of coking coal, used for steelmaking, and India almost doubled purchases of energy coal for its power stations.

Link to article




Rio CEO Albanese Says Chinese Growth May Slow to 6% This Decade



Aug. 19 (Bloomberg) -- Rio Tinto Group Chief Executive Officer Tom Albanese sees economic expansion in China, the biggest metals user, slowing to as low as an annual 6 percent this decade after a 30-year run of average 10 percent growth.


“We should temper our forecasts with the thought that nothing is forever,” Albanese, 53, said, according to a copy of notes for a speech in Shanghai today. “China’s growth rates, as amazing as they are, are bound to flatten.”

“We can expect to see a lower GDP growth rate over the next decade; perhaps a decline to levels of 6 to 7 percent in the coming 10 years compared to around 9 percent in 2010,” Albanese said. “This is still robust compared to mature economies and still represents very large absolute levels of growth.”

Link to article






Our Lesser-Known Allies in Afghanistan


August 19 (NYT) KABUL — What do the Greek, Mongolian, Latvian and British Armies have in common? They’ve all been in Afghanistan before: the Greeks under Alexander; the Mongols under Genghis Khan; the Latvians as part of the Soviet Union; and the British more than a few times. They are also current members of the International Security Assistance Force, and contribute troops to the coalition mission in Afghanistan.

The Mongolians, for certain, provide the most extraordinary example of international support. That Mongolia — a landlocked country of just three million people, nearly half of whom still lead a nomadic life — provides any aid at all to the international force is remarkable.


While there are only a few dozen Mongolian soldiers in the country helping to train the Afghan National Army, the country’s contribution is relatively substantial considering that its military only numbers around 7,000 (less than a single American division).


The Mongolian mission at Camp Alamo, which just moved to another location around Kabul, is to train the Afghans in the operation of indirect fire systems. Since the Mongolians use former Soviet weaponry, particularly mortar and artillery systems, they can train the Afghans in those systems with a familiarity that NATO members could not.


And although Mongolia’s military may not be as fearsome as it once was under Genghis Khan, having been the only country to quell Afghanistan has to count for something.


The Mongolians’ presence around camp also provides a novel experience for the many members of ISAF who are unfamiliar with their distinct culture. While some of the Mongolians struggle with English, their friendliness and dedication does not get lost in translation. Also their presence provides an excellent excuse for the DFAC (dining facility, that is) to have Mongolian BBQ night.

First Lt. Mark Larson is serving with the 10th Mountain Division in Kabul …


Link to article




Guam Guard Members in Mongolia for Khaan Quest Exercise


August 19 (Pacific News) Guam -  Guam-based, U.S. Army Reserve Soldiers from the 797th Engineer Company, which is a subordinate unit of the 411th Engineer Battalion and 9th Mission Support Command, are working side by side with Mongolian Armed Forces here to provide humanitarian assistance as part of U.S. Army, Pacific’s exercise Khaan Quest.

Link to article




Skaidi in China and Mongolia


August 23 (ScandAsia) The duo Skaidi is set to embark on a tour in China from the 4th to the 9th of October, visiting Beijing, Tianjin, Wuhan, Guangzhou and Hong Kong. The Asia tour also includes performances at the Giant Steppes Jazz Festival 2010 in Ulaan Baatar, Mongolia from the 30th of September to the 2nd of October. 


In the duo Skaidi, Steinar Raknes and Inga Juuso bring together jazz and yoik, a traditional folksong among the Sami peoples in the extreme north of the European continent. …

Link to article




Teen gets 50 to life for killing girl (Ichinkhorloo) in park

August 20 (SF Chronicle) A teenager was sentenced Friday to 50 years to life in prison for fatally shooting a 15-year-old girl in the back in an Alameda park during a robbery attempt on Halloween 2007.


Quochuy "Tony" Tran, 19, of Oakland showed no emotion as Judge Carrie Panetta imposed the maximum sentence in the slaying of Ichinkhorloo "Iko" Bayarsaikhan, who was shot to death in Alameda's Washington Park as she was hanging out with her brother and their friends.

Link to article


Gift fire engine for Mongolia cannot pass Russian Customs


August 20 ( A team of Scots fund-raisers racing a fire engine to be donated to emergency services in Mongolia has had to change course after being held on the Russian border for five days. Despite support from MPs, and the British Embassy in Moscow, officials demanded extra payments and paperwork. Now the team is heading back into Ukraine, to try a different crossing point into Mongolia.


They are one of 340 teams taking part in the deliberately eccentric Mongol Rally. They are reported in the BBC Scotland news website as hoping they would find more helpful officials at a different border crossing. The British Embassy in Moscow had sent a fax Customs officers had been asking for "but that doesn"t seem to have got the vehicles released".


If the team does eventually manage to cross the Russian border, they will still have about 7,200 km to go before they reach their destination.


Link to article


Original BBC Article here




"Mogi" Munkhdul Badral

Executive Director

CPS International


Mobile: +976-99996779


CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at or +976-9999-6779.


No comments:

Post a Comment