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 mogi@cpsinternational.mn or +976-99996779.
Anglo American Seeks Coking Coal Assets in Russia, Mongolia
Sept. 3 (Bloomberg) -- Anglo American Plc, the third- largest producer of steelmaking coal, is seeking an acquisition that may more than double existing output to meet rising Chinese and Indian demand.
Anglo is looking for assets with potential annual output of as much as 20 million metric tons in Russia, Mongolia, Indonesia and Mozambique, said Seamus French, head of the London-based company’s coking coal business. Anglo’s production of the commodity from its Australian mines was 12.6 million tons last year, according to the its website.
“I’d like to be in the latter half of next year, by end 2011, be firmly zeroed in on a target,” French said in a phone interview from Brisbane. “We can double production from our own pipeline by 2020 but we want to do more than that.”
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Prophecy Secures $10 Million Loan to Advance Ulaan Ovoo Coal Mine, Mongolia
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 2, 2010) - Prophecy Resource Corp. (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) has arranged a secured debt facility of up to $10 million (the "Loan") with Waterton Global Value, L.P. ("Waterton"). Subject to certain drawdown conditions, the loan may be drawn down in three tranches as follows:
(a) $2 million on the closing date, which occurred as at September 1,
(b) $3 million on the date Prophecy completes the acquisition of Northern Platinum Ltd. (see Prophecy news release dated July 16, 2010) and
(c) $5 million at such time as Prophecy completes an off-take agreement for the Ulaan Ovoo property.
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Gashuun Sukhait to work for 24 hours a day by year-end
September 3 (news.mn) Oyutolgoi LLC will build 180 new apartments, and enlarge and improve the energy, heating, sewage and drinking water supply system at Gashuun Sukhait in Umnugobi aimag before the end of the year as part of the planned expansion and extension of services at the border point. Once these are in place, the port will start working for 24 hours a day.
Announcing this to media, the Chief of the Government Office, Ch. Khurelbaatar, said the workload at the port has increased dramatically in recent weeks. Apart from increased coal export, every day some 50 trucks are bringing mining and construction equipment for the Oyutolgoi project from China.
Mongolia To Host Railroad Investors Forum
September 3 (UB Post) Mongolia is to host a railroad investors forum to attract more investors for a national project on construction of a 1100 kilometer long railroad.
It was announced at the Cabinet Meeting by Kh.Battulga, Minister for Roads, Transport, Construction and Urban Development.
According to Battulga, the Ministry is set to organize this significant event on September 11, 2010, to introduce the railroad project to international investors. So far investors of Germany, South Korea, Japan, Russia and China, as well a Mongolian company have expressed their interests in the project, said the minister.
The recently approved State Policy on Railroad states the new railroad travels from Tavan Tolgoi Coal Deposit to Choibalsan City, Dornod Province through Sainshand City, Dornogobi Province, which is to become a heavy industry hub of the country.
Northeast Asian countries' cooperative development accelerates
CHANGCHUN, Sept. 2 (Xinhua) -- Economic cooperation and investment among northeast Asia countries is accelerating, a senior trade official of the Democratic People's Republic of Korea (DPRK) said Thursday in Changchun, capital of northeast China's Jilin Province.
"Northeast Asia has the advantages of modern technology, abundant natural resources and huge markets, which lays a solid foundation for common prosperity through cooperation," Koo Bon-Tai, vice trade minister of the DPRK, said at the Sixth Northeast Asia Investment and Trade Expo.
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"All mining, communication and infrastructure projects approved by the Mongolian government are related to the development of northeast Asia," said Noroviin Altanhuyag, the first deputy prime minister of Mongolia.
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EXCHANGE RATES
Ulaanbaatar, Mongolia, /MONTSAME/ Official currency exchange rates as of September 3 set by the Bank of Mongolia:
USD U.S. Dollar 1,318.81
EUR Euro 1,687.55
JPY Japanese Yen 15.67
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CAD Canadian Dollar 1,253.38
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AUD Australian Dollar 1,196.36
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(USD rate dropped below 1300 in late August)
Major Drilling is putting Mongolia on the map
September 3 (New Brunswik Business Journal) The world's least populated country and one of the youngest democracies is experiencing a mining boom and is looking to Canada for leadership.
And a New Brunswick company is at the centre of the development. Moncton-based Major Drilling Group International Inc. (TSX:MDI) has been at the forefront as Mongolia heads toward becoming a big league player in the international mining industry.
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The company was one of the first North American companies to set up shop in the country and he said good geological surveys, done by the Soviets when they ruled the region, made it attractive for development.
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"If countries like Canada don't help, the young democracy might not survive," he said.
The country is the only member of the World Trade Organization not participating in a regional trade agreement.
Lutz said Canada is seen as a strong democracy, a peace-keeping nation. "Mongolians know it doesn't do any good to allow a country to come in and just take the resources out," he said.
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Australia
| Close: Shares of Mongolia Related ASX Listed Companies, September 3, 2010 | | ||||||||
| 0.920 | 0.040 | 0.920 | 0.930 | 0.890 | 0.920 | 0.880 | 230,116 |
| |
| 0.013 | 0.000 | 0.012 | 0.013 | 0.014 | 0.014 | 0.013 | 1,580,138 |
| |
| 0.185 | 0.000 | 0.190 | 0.195 | 0.190 | 0.190 | 0.185 | 75,600 |
| |
| 0.081 | 0.001 | 0.080 | 0.081 | 0.080 | 0.081 | 0.080 | 449,777 |
| |
| 0.125 | 0.000 | 0.110 | 0.120 | 0.125 | 0.125 | 0.125 | 23,400 |
| |
| 32.580 | 0.310 | 32.580 | 32.590 | 32.420 | 32.660 | 32.310 | 940,626 |
| |
| 73.790 | 0.670 | 73.770 | 73.790 | 73.550 | 73.850 | 73.280 | 2,173,333 |
| |
| 38.330 | 0.010 | 38.330 | 38.400 | 38.500 | 38.700 | 38.330 | 10,401,625 |
| |
An * next to the security code indicates there has been an announcement today relating to that security. Click on the * to view the list of today's announcements.
Source: asx.com.au
Shares cap best week in a year
September 3 (AAP) Close, Shares have posted modest gains for the day but capped their best weekly performance in a year as investors regained some confidence in the outlook for the global economy.
At the close, the benchmark S&P/ASX200 index was up 8.5 points, or 0.2 per cent, at 4541.2, while the broader All Ordinaries index had risen 14.6 points, or 0.3 per cent, to 4577.6.
For the week, the ASX200 rose 3.9 per cent - its first weekly advance in a month and the biggest increase since the last week of August 2009.
Among the major sub-indexes, financial shares were down 0.3 per cent for the day, while minerals were up 0.5 per cent, gold stocks were 4.1 per cent higher and industrials were 1.6 per cent ahead.
need2know:
- Asian shares edge up for third day of gains
- The dollar falls back below 91 US cents
- Oil slips to $US74 ahead of US jobs data
- Gold is little changed at $US1250
- Dow futures are 14 points lower at 10,295
After a steady rise to 4558.7 in early trade, its best since August 10, the S&P/ASX200 pared gains reflecting a move to consolidate, as global market await further key US data due later today.
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Australian investors are unlikely to take bold positions ahead of the US non-farm payrolls data, with global markets expected to watch closely the latest indicator on whether the world's largest economy is recovering.
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The two big miners finished strongly. Rio Tinto rose 67 cents, or 0.9 per cent, to $73.79, while BHP Billiton gained 1 cent to $38.33.
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Preliminary national turnover was 2.16 billion securities worth $5.2 billion, with 631 stocks up, 431 down and 358 unchanged.
Global
Employment Probably Cooled as U.S. Slowdown Shook Confidence
Sept. 3 (Bloomberg) -- Employment probably cooled in August as slower economic growth caused some U.S. companies to lose confidence the recovery will be sustained, economists said before a report today.
Private payrolls that exclude government agencies rose by 40,000 after a 71,000 July gain, and the jobless rate climbed to 9.6 percent, according to the median estimate of economists surveyed by Bloomberg News. Total employment may have dropped for a third consecutive month as census workers were let go.
“Companies are still absolutely devoted to cost control,” said Chris Low, chief economist at FTN Financial in New York. “The labor market has just gotten worse, and is consistent with consumer spending that’s treading water.”
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Asia Stocks Advance for a Third Day on U.S. Home, Retail Sales
Sept. 3 (Bloomberg) -- Asian stocks rose, led by technology companies, after U.S. reports showed an unexpected increase in pending home sales and improved retail sales.
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The MSCI Asia Pacific Index gained 0.5 percent to 119.87 as of 5:39 p.m. in Tokyo, extending its advance for a third day. The gauge climbed 2.6 percent this week after Japan’s government said it’s preparing a new stimulus plan to help businesses threatened by the strong yen and as reports showed Chinese and U.S. manufacturing, as well as the Australian economy, grew faster than economists estimated.
Japan’s Nikkei 225 Stock Average and Hong Kong’s Hang Seng Index gained at least 0.5 percent. Taiwan’s Taiex Index climbed 1.4 percent, as the nation’s technology companies rallied.
South Korea’s Kospi Index and Australia’s S&P/ASX 200 Index rose at least 0.2 percent. The Philippine Stock Exchange Index advanced 1.9 percent, the most among Asia Pacific gauges, as the peso rose to its highest in three months.
Chain Store Data
Futures on the Standard & Poor’s 500 Index were little changed today. In New York yesterday, the index increased 0.9 percent, rounding out its biggest two-day gain since early July, after a report showed pending sales of existing U.S. houses climbed 5.2 percent in July, compared with a 1 percent drop economists had estimated in a Bloomberg survey.
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Raw-material producers climbed after crude oil for October delivery rose 1.5 percent yesterday in New York. The London Metal Exchange Index of six metals including aluminum and copper advanced for a second day yesterday to the highest level since April 30.
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Stocks Gain, Index Futures Fluctuate Before U.S. Jobs Report
Sept. 3 (Bloomberg) -- Stocks advanced for a third day and U.S. index futures fluctuated before a U.S. jobs report that economists predict will show private employers hired 40,000 workers. Wheat gained as Russia extended a ban on exports.
The MSCI World Index of stocks in 24 developed markets rose less than 0.1 percent at 10:00 a.m. in London, extending the biggest weekly gain in almost two months. Standard & Poor’s 500 Index futures slipped 0.1 percent. Wheat jumped 1.3 percent, copper climbed for a third day and gold advanced to within 1 percent of its record. Crude oil declined 0.6 percent, headed for a weekly loss, while the dollar was little changed.
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The Stoxx Europe 600 Index rose 0.2 percent, extending this week’s advance to 3 percent. Neopost SA, the French mailroom equipment maker, gained 3.7 percent as revenue increased. The MSCI Asia Pacific Index climbed 0.5 percent. Futures on the S&P 500 expiring this month declined 0.1 percent before the Labor Department’s payrolls report, due at 8:30 a.m. in Washington.
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"Mogi" Munkhdul Badral
Executive Director
CPS International
Email: mogi@cpsinternational.mn
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 mogi@cpsinternational.mn or +976-99996779.
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