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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Close: Mongolia Related ASX Listed Companies, July 7, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.061 | 0.010 | 0.061 | 0.062 | 0.052 | 0.062 | 0.051 | 44,106,083 | |
1.360 | 0.010 | 1.310 | 1.360 | 1.350 | 1.365 | 1.300 | 308,619 | |
0.250 | 0.035 | 0.240 | 0.250 | 0.230 | 0.250 | 0.230 | 538,047 | |
0.590 | -0.005 | 0.580 | 0.590 | 0.600 | 0.600 | 0.575 | 524,400 | |
0.010 | 0.001 | 0.010 | 0.011 | 0.010 | 0.010 | 0.009 | 4,691,426 | |
0.007 | 0.003 | 0.006 | 0.007 | 0.005 | 0.007 | 0.005 | 2,192,085 | |
0.155 | 0.005 | 0.150 | 0.155 | 0.150 | 0.170 | 0.140 | 31,799,549 | |
0.195 | 0.010 | 0.180 | 0.190 | 0.175 | 0.195 | 0.175 | 130,419 | |
1.145 | -0.020 | 1.100 | 1.145 | 1.135 | 1.150 | 1.110 | 112,329 | |
0.265 | -0.005 | 0.260 | 0.265 | 0.260 | 0.265 | 0.255 | 151,694 | |
0.480 | 0.000 | 0.350 | 0.470 | 0.000 | 0.000 | 0.000 | 0 | |
0.034 | 0.004 | 0.032 | 0.034 | 0.025 | 0.038 | 0.024 | 36,989,922 | |
0.525 | -0.005 | 0.515 | 0.525 | 0.530 | 0.530 | 0.520 | 211,583 | |
21.350 | 0.500 | 21.210 | 21.350 | 20.790 | 21.390 | 20.730 | 1,065,043 | |
83.550 | -0.050 | 83.530 | 83.550 | 83.330 | 83.780 | 83.120 | 1,379,974 | |
44.420 | -0.030 | 44.400 | 44.420 | 44.320 | 44.420 | 44.140 | 9,840,254 | |
Source: asx.com.au
Haranga: Exploration Update
July 7, Haranga Resources Limited (ASX:HAR) --
• Final approvals obtained at the flagship Selenge iron ore project and drilling contracts signed.
Ø Four priority targets identified.
Ø Drilling to commence within three weeks.
• Initial scout drilling completed at Tumurtei Khudag and Sumber projects.
Ø Iron mineralisation discovered in magnetite skarn at Tumurtei Khudag.
• Magnetic survey completed over entire Shavdal project licence area.
…
TVN Corporation raises A$1.5m to fund Mongolian thermal coal acquisition
July 7 (Proactive Investors) TVN Corporation (ASX:TVN) has placed 76 million shares at $0.02 to raise $1.52 million to fund the 100% acquisition of the Nuurst Thermal Coal Project in Mongolia.
The acquisition though is still subject to completion of due diligence and shareholder approval.
Nuurst has an exploration target of 50 to 100 million tonnes of thermal coal, with a calorific value range Qdaf 6200 to 6800 kcal/kg.
What is so fascinating about exploration and geological understanding in Mongolia is the lack of it, with an estimation that only three quarters of the country has been mapped to a scale of 1:200,000.
The underdeveloped and general lack of infrastructure in the country won't present much of a problem for TVN Corporation at this exploration stage.
The best part for the junior coal explorers in Mongolia is the country's location next to China, offering potential funds for infrastructure and development support should a sizeable coal resource be discovered.
Boosting the coal possibilities even higher for Mongolian focused companies, the country has coal reserves estimated at over 150 billion tonnes.
Aspire: Presentation to Coking Coal Industry Chain Summit China
July 7, Aspire Mining Limited (ASX:AKM) --
Seoul wants fresh talks over Mongolia coal mine
July 7 (AFP) SEOUL — Seoul called Thursday for talks with Ulan Bator after a consortium involving South Korean firms was left off a list of groups chosen to develop a huge Mongolian mine, saying the decision was "unclear and unfair".
Out of six preferred bidders, Mongolia on Monday said it had picked US mining giant Peabody Energy, China's Shenhua and a Russian-led consortium to develop the Tavan Tolgoi coal deposit, one of the world's largest.
According to South Korea, this happened when the six preferred bidders -- including one consortium linking South Korea, Japan and Russia -- were in talks to form a "grand consortium" at the request of Mongolia.
Seoul said Ulan Bator had told the six bidders in April to merge.
The six had since been in talks to meet the demand when Ulan Bator "unilaterally" announced the selection of three short-listed bidders, the Ministry of Knowledge Economy said.
"Together with Japan, we plan to raise the issue with the Mongolian government of the international bidding, which was carried out in an unclear and unfair manner, and tap the possibility of additional talks," the ministry said in a statement.
"We were dumbfounded by the announcement. We've been asking for explanations from Ulan Bator through diplomatic channels," a ministry official told AFP on condition of anonymity.
Peabody, Brazil's Vale and Indian steel giant ArcelorMittal had been among the six preferred bidders to develop the western portion of the Tsenkhi block of Tavan Tolgoi.
The others in contention were Anglo-Swiss group Xstrata, a joint venture between Shenhua and Mitsui and a consortium of Russian, South Korean and Japanese companies.
The South Korean side included Korea Resources, POSCO, KEPCO and four other firms.
Ulan Bator has been opening up the landlocked country's lucrative resources sector to foreign investment as it seeks to lift more people out of poverty.
Battle of the Bigwigs for Tavan Tolgoi
July 6 (The Motley Fool) Although investors seem to turn a blind eye to coal, the same certainly can not be said with respect to the leading industrial nations of the world.
South Korea is in a tizzy, and Japan is aghast -- all because of one coal mine? That's because this is not just any coal mine. This is Tavan Tolgoi, the Mongolian behemoth that hosts the world's foremost mother lode of the coveted coking coal used to make steel. The deposit contains more than 6 billion tons of coal, comprising about 4.5 billion tons of thermal coal and 1.5 billion tons of the higher-priced steelmaking variety.
Earlier this week, Mongolia's state-owned Erdenes MGL, which owns the mine, announced the results of a long-running and contentious bidding process to join the international consortium that will take on an estimated $7.3 billion construction project to build a world-class mine at Tavan Tolgoi. Approximately 50% of the deposit is subject to the consortium, while the present owner intends to mine the rest. China Shenhua Energy (OTC BB: CUAEF.PK) won the largest slice of bituminous pie with a 40% stake in the project, followed by a Russian-led coalition that received 36%, and U.S.-based coal miner Peabody Energy (NYSE: BTU ) with a welcome 24% stake.
But wait; hold the presses! Before the ink had even dried on that long-awaited announcement, Erdenes MGL indicated that the outcome "is not final yet" after South Korea's energy ministry protested vociferously against a process that it claims was "unclear and unfair." Arguably, the stakes are highest for manufacturing-focused economies like South Korea and Japan that lack domestic sources of key raw materials. Korean steelmaker POSCO(NYSE: PKX) , which had been included within a Japanese-South Korean consortium that vied for a share of the project, has found itself victim to powerful margin squeezes before, and effective vertical integration into major sources of raw materials offers perhaps the best defense. No doubt steelmaker ArcelorMittal (NYSE: MT) had similar motivations behind its failed bid for a share.
Brazilian iron-ore giant Vale (NYSE: VALE ) tried to leap further into the met-coal market to more effectively compete with leaders such as BHP Billiton (NYSE: BHP) in pricing negotiations with steelmakers, but I suspect that manufacturing interests among the competing bidders may have exerted pressure against the miner's bid.
Even if the consortium is ultimately tweaked from the initial composition, it is clear that Peabody Energy will retain a significant chunk of this world-class coal project. Details on the proposed project are closely kept, but the mine may initially produce about 30 million tons of coal per year. Based upon a 24% stake, and a roughly estimated product mix of 75% thermal coal and 25% met coal, that could yield 7.2 million tons of coal per year (including 1.8 million tons of met coal) for Peabody's share. For reference, all of Peabody's export-focused operations in Australia combined yielded 27 million tons of coal during 2010, including 9.8 million tons of met coal. Given the scale of the resource, I would look for the consortium to potentially enhance Mongolia's export infrastructure to accommodate greater annual output. For investors seeking their own slice of this world-class coal deposit, Peabody Energy is the vehicle of choice.
China, Mongolia to enhance law enforcement, security cooperation
ULAN BATOR, July 7 (Xinhua) -- Chinese and Mongolian leaders have pledged to step up bilateral cooperation in law enforcement and security.
In his meeting with Mongolian President Tsakhia Elbegdorj here Thursday, Chinese State Councilor Meng Jianzhu said China was willing to work with Mongolia to deepen cooperation in law enforcement and security areas to create a friendly environment for the development of the recently established China-Mongolia strategic partnership.
Cooperation in law enforcement and security was important for safeguarding the two countries' common interests and ensuring the long-lasting sound and steady development of bilateral ties, Meng said.
In recent years, China and Mongolia faced threats such as cross-border crime and "the three evil forces" of terrorism, separatism and extremism. Safeguarding peace, harmony, stability and tranquility was in the common interest of the two countries and the common responsibility they should shoulder, Meng said.
As important neighbors and cooperative partners, Meng said, China and Mongolia had made great progress in communication and cooperation in a variety of areas, with frequent high-level exchanges and enhanced political mutual trust.
China was willing to work with Mongolia to advance their strategic partnership by strengthening political communication and strategic trust, deepening cooperation in economy and trade, consolidating public opinion and enhancing coordination and mutual support in international and regional affairs, Meng said.
Elbegdorj said Mongolia and China were good neighbors with adjoining mountains and rivers. The Mongolian government and people sincerely welcomed China's great achievements and increasing international reputation.
He also said the strategic partnership had great significance for Mongolia and China. Mongolia would actively implement the consensus reached by leaders of the two countries, consistently deepen mutual trust and make unremitting efforts for both countries' common prosperity.
Meng started his official visit to Mongolia on Wednesday
Immigration: Mongolia
Comprehensive immigration profile on Mongolia for those considering a relocation
July 7 (MoveOne) As relocation experts, at Move One we understand how important it is to make the t-ransition to your new home as seamless as possible. To that end, Move One profiles a country every month, providing an in-depth look at relocation, immigration, moving and pet transportation issues.
This month’s spotlight focuses on immigration to Mongolia.
The government of Mongolia has a flexible investment policy, open to foreign investment in all sectors of the economy. Mining of natural resources attracts a large amount of foreign capital. The Oyu Tolgoi copper and gold deposit in the Gobi desert, which operates from foreign and domestic investment, is expected to double Mongolia’s annual GDP within the next ten years.
Although local workforce is regularly trained through government initiatives, there remains a shortage of skilled labor in the country for jobs which require advanced degrees. Foreign workforce is therefore attracted to fill these gaps for highly skilled categories.
How to Begin
In order to determine a foreigner’s particular immigration needs, the following information should be shared with a Move One immigration professional:
· Purpose of visit – work or business
· Foreigner’s nationality
· Location of payroll
· Duration of the assignment, arrival date and start date
· Foreigner’s exact job title and job description
· Job location (company’s address)
· Name of sending and receiving company
· Validity of passport
· If there are family members: nationality, age, planned arrival date
Business Travel to Mongolia
Business visitors must generally limit their activities to non-productive work such as attending business meetings, negotiations, participating in exchange programs, conferences, seminars or congresses and taking part in workshops on trade and economic questions. Business visitors may also attend auctions, exhibitions, shows and other events commercial in nature.
Based on bilateral agreements, nationals of certain countries do not require a visa to enter Mongolia for the purpose of business, granted they hold the appropriate passports issued by the country. Visa-free stay has limitation from 14 to 90 days depending on foreigner’s nationality. The detailed list is defined by the Ministry of Foreign Affairs and Trade of Mongolia.
Once visa free period expires, foreigner must leave Mongolia. In case foreigner wishes to stay longer than the allowed visa-free period, a business visa must be obtained before arrival.
These travelers, as well as visa-required nationals must secure a business visit “B” visa in order to enter the territory of Mongolia. Business visa application is only possible with an invitation letter issued by the Ministry of Foreign Affairs and Trade, based on a request letter from a sponsoring company or its counterpart in Mongolia.
A single entry business visa allows a visit of up 30 days. For regular business visitors it is possible to have a single entry visa extended to a multiple entry 180/365 days visa, but approval is required from theMongolia Immigration Agency. Approval is usually issued in case the sponsoring company has been operating in Mongolia for several years.
A double entry business visa is issued to foreigners traveling to Mongolia twice within 90 days. Duration of each stay in Mongolia is up to 30 days.
Upon arrival to Mongolia, visitors staying for more than one month must register at the Immigration Agency within 7 days after arrival.
Working in Mongolia
Foreign employees must be sponsored by a local Mongolian company in order to obtain permits for the country and work legally. Foreigners are only eligible for work permits if they are based on local payroll received form a registered Mongolian entity.
Moreover in order to hire a foreigner, the company must meet the quota set by the government. Foreign-worker quota is issued annually by the government of Mongolia. Generally from 5 to 20% of a company’s workforce can be foreign, depending on the industry and the total number of employees a company employs.
The standard process outlined below is for the common scenario of visa citizen employees of limited liability companies on Mongolian payroll:
· Invitation Letter.
Obtaining a visa invitation letter is quite a complex process and involves various government agencies. A sponsoring Mongolian company must submit a request letter to the Immigration Agency, which will consult with the Labor and Welfare Agency before authorizing the Ministry of Foreign Affairs and Trade to issue a visa invitation letter. The ministry then forwards this letter to the embassy or consulate in the applicant’s country of residence.
· HG Work Visa.
Next, the prospective employee must apply for a 30-day visa at the embassy or consulate abroad based on a visa invitation letter. With an issued visa, a foreigner may enter Mongolia.
· Address Registration.
Upon arrival to the country, a foreign citizen must register at the Immigration Agency within seven days of arrival, including non-work days.
· Work Permit.
The company must obtain a work permit after the foreigner has arrived to Mongolia. Work permit application is lodged at the Labor and Welfare Agency.
· Visa Extension and Long-term Residence Permit.
Within ten days of arrival, the 30 day visa must be converted into a year-long multiple entry work visa. Conversion is arranged at the Ministry of Foreign Affairs and Trade and during conversion, a foreigner must also apply for a long-term residence permit which will be valid until the validity of the work permit.
Important to Note
· Foreigners employed in Mongolia are liable for social insurance taxes if they reside within Mongolia for 180 days within a 365 day period.
· Family members may accompany the employee by obtaining dependent “H” visas simultaneously with the main applicant.
· Unmarried partner’s may not accompany main applicant on long term dependent visa.
· Original birth and/or marriage certificates will be required for application of family members.
· Work permits and visas are issued for the maximum validity of one year, with the possibility of extension.
· Investor “T” visa may be issued for a period of one year to investors or foreign executive director of a foreign invested company. Holders of investor visas do not require a work permit in order to take up employment in the country. Application for such visa will involve the Foreign Investment and Foreign Trade Agency in Mongolia.
· Short-term consultants do not qualify as business visitors and they must obtain a work permit in order to conduct consulting activities.
Travelers to Mongolia should note that immigration procedures may vary greatly, depending on the specific circumstances of the transferee his or her family members. Please get in touch with Move One to discuss your specific case by sending an email to immigration@moveoneinc.com.
<Mogi & Friends Fund A/C>
+13.3% Total
Mogi & Friends Fund is a tiny fund of A$23K I created in late September with a few friends to put my own (and a few friends’) money where my mouth (just mine) is.
…
Mogi
---
"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
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Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia
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.
Disclosure/Disclaimer
CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.
CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.
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