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, June 30, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.044 | 0.010 | 0.044 | 0.045 | 0.036 | 0.048 | 0.036 | 22,385,376 | |
1.370 | 0.080 | 1.320 | 1.370 | 1.295 | 1.370 | 1.280 | 491,195 | |
0.225 | 0.020 | 0.225 | 0.230 | 0.205 | 0.225 | 0.185 | 1,185,250 | |
0.570 | 0.035 | 0.570 | 0.580 | 0.540 | 0.580 | 0.540 | 3,437,000 | |
0.010 | 0.000 | 0.010 | 0.011 | 0.011 | 0.011 | 0.010 | 3,078,034 | |
0.004 | -0.002 | 0.004 | 0.005 | 0.004 | 0.004 | 0.004 | 235,932 | |
0.100 | -0.005 | 0.099 | 0.100 | 0.105 | 0.110 | 0.093 | 22,547,315 | |
0.150 | 0.010 | 0.150 | 0.155 | 0.140 | 0.155 | 0.140 | 331,990 | |
1.120 | 0.040 | 1.120 | 1.125 | 1.095 | 1.120 | 1.080 | 1,949,831 | |
0.250 | 0.005 | 0.250 | 0.265 | 0.260 | 0.260 | 0.250 | 438,261 | |
0.480 | -0.020 | 0.480 | 0.500 | 0.450 | 0.480 | 0.410 | 365,000 | |
0.500 | 0.010 | 0.475 | 0.500 | 0.505 | 0.515 | 0.455 | 1,095,425 | |
20.850 | 0.830 | 20.830 | 20.850 | 20.380 | 20.890 | 20.340 | 1,565,135 | |
82.990 | 1.460 | 82.810 | 82.990 | 82.340 | 83.040 | 82.070 | 2,885,850 | |
43.800 | 0.650 | 43.790 | 43.800 | 43.380 | 43.820 | 43.350 | 10,853,102 | |
Source: asx.com.au
Mongolia halves Tavan Tolgoi shortlist; Russia, China in
* Winner of bid to be announced within days - gov't
* Mongolia to weigh Russia, China's interests in picking winner -official
* Gov't already held 18 rounds of talks with bidders (Adds details from press conference, background)
ULAN BATOR/BEIJING, June 30 (Reuters) - Mongolia said on Thursday it has halved the number of shortlisted bidders seeking to develop the prized Tavan Tolgoi coking coal mine to three and that Chinese and Russian groups are still in the running.
Results of the bid will be announced within days, the Mongolian government said in a statement.
It did not give the names of the bidders who have been shortlisted. However, the Mongolian ambassador to China said separately in Beijing that the government would consider the interests of its two neighbours and that the groups including Chinese and Russian firms were still in the running.
The Tavan Tolgoi coal deposit, in Mongolia's south Gobi region, has estimated reserves of 6 billion tonnes of coal, including the world's largest untapped deposit of steelmaking coking coal, which is increasingly hard to find.
Mongolia, which has a gross domestic product of around $6 billion, is hoping to use Tavan Tolgoi to bankroll its long list of infrastructure investments around the country.
A decision by Mongolia to keep China and Russia as frontrunners illustrates the government's keen awareness that it can ill afford to be seen as snubbing either.
The landlocked and impoverished nation relies heavily on China for its commodities exports, but is in talks to access Russia's railways and ports as it looks to build new trade ties with other countries in the Far East.
These geopolitical considerations mean the two consortium: Shenhua Energy with Japan's Mitsui & Co as well as the group comprising state-run Russian Railways, POSCO , utility KEPCO and others would likely be the final winners.
"There can't be too many fingers in the pudding. The Chinese and Russians will need to be involved in the project," said an analyst with a European investment bank who asked not to be identified.
"The consortium with Russian Railways is also a good bet because South Korea is a good backup market should the Japanese be unable to take the coal."
The government has previously said more than one winner may be picked to develop the project.
ArcelorMittal , Vale , Xstrata and U.S. Peabody are the remaining contenders.
CONSIDERATIONS
The Mongolian government, led Prime Minister Sukhbaatar Batbold, said the shortlisting came after 18 rounds of talks with all six bidders over issues such as pre-payment, mine management and environmental concerns.
Speaking at a press conference in Beijing, the Mongolian ambassador to China, Galsan Batsulch, said the government needs to first consider the closest market for its resources, as well as the huge investment needed to develop the mines.
"China is the closest market and the main consumer of our mine projects. We cannot develop the mine if we don't take Chinese interests into account," Batsulch told reporters.
For most of the last century, Mongolia has enjoyed warm ties with its communist ally Russia, which has built roads and raised literacy of Mongolians over the communist era.
Relations with China, however, have been awkward. Although the southern neighbour buys almost all its coal and copper exports and is its largest trading partner, many Mongolians still harbour suspicions about China due to historical legacy.
MASSIVE UNTAPPED DEPOSIT
The government also plans an initial public offering for Erdenes-Tavan Tolgoi, the state-owned company in charge of the eastern block, which has been valued at up to $5 billion. Goldman Sachs Group Inc , Deutsche Bank AG (DBKGn.DE), BNP Paribas SA and Macquarie Group Ltd have been short-listed to manage the IPO.
The Tavan Tolgoi coal deposit is located about 400 kilometres from the nearest railway line and lacks infrastructure and power, which has held up development and allowed only very limited production.
The three bidders shortlisted by the Mongolian government are vying to develop the west Tsankhi block of the field, which has 1.2 billion tonnes of coal reserves and could produce 15 million tonnes annually for more than 30 years.
Link to Government Press Release (Mongolian)
ABOUT COURSE OF TAVAN TOLGOI DEPOSIT'S AGREEMENT
June 30, Ulaanbaatar, Mongolia, /MONTSAME/ On Wednesday, the First Deputy Premier N.Altankhuyag and a head of the Cabinet Secretariat of Government Ch.Khurelbaatar spoke about a course of agreement on exploitation of Tavan tolgoi mineral deposit.
A working group led by N.Altankhuyag is working on drawing up a draft agreement on the deposit, maintaining parliamentary 39th and 40th resolutions as the core guidelines, also keeping to the National Development Policy, the governmental program, a recommendation of the National Security Council, the state policy on railway, a program on development of Omnogobi's infrastructure, and strategies for the Sainshand industrial complex, and the concept of foreign policy.
In accordance with the 39th parliamentary resolution, some officials have been ordered to hold talks on transit transport, contrary terms, pre-payment, exploitation of ports, investments and sales, to run an open selection of consortiums with participation of domestic and foreign investors, to discuss a draft contract of investment at parliament, and to introduce other draft documents.
Six candidates as the Peabody Energy Corporation (USA), the Shenhua Energy (China), the Mitsui (Japan), a unity of consortiums (Russia, Japan and the Republic of Korea), the Xtrata Coal (Australia and Switzerland), the Vale (Brazil) and the ArcelorMittal (Luxembourg)--have been selected in mid of the selection. Bdoh
After doing 18 contracts and agreements, three candidates have reached the final phase of the selection, said Khurelbaatar.
The government aims to make the Tavan tolgoi deposit one of the biggest in the world coal mines, to implement the high-level safety operations and labor on the deposit, to keep the international standards of environment protection and rehabilitation, to sell coal at high price, and to distribute it to final consumers. Specific criteria must be satisfied by the operator who will run the coal extraction.
The cabinet meeting has considered as necessary to introduce to parliament the process of agreement on exploitation of Tavantolgoi deposit.
Energy Resource LLC exports enriched coal to Europe
June 30 (news.mn) Energy Resource LLC, which has a mining license over four percent of the Tavantolgoi deposit, has begun exporting processed coal to European markets through Russia. The coal is transported from Umnugobi to Choir and from there to Russia. Thyssen Krupp of Germany is then responsible for taking the coal transport to Germany and Poland.
Voyager Resources 41% share spike prompts ASX speeding ticket
June 30 (Proactive Investors Australia) Voyager Resources (ASX: VOR) received a price and volume speeding ticket today from the ASX, when the company's shares jumped 41% to $0.048 in intra-day trade - Thursday 30 June, up from a closing price of $0.034 a day before.
Voyager responded to the ASX saying that the company is not aware of any reasons for the sudden investor interest.
The company though is in a very interesting exploration phase, and earlier in the month committed to an extensive 25,000 reverse circulation and diamond drilling campaign in Mongolia.
Drilling at Khul Morit will follow up the 27 metres at 2.09% copper from 28.8 metres intersection, with drilling at Daltiin Ovor previously hitting 3 metres at 50.59g/t gold, 4.0% copper & 31.3g/t silver from 6 metres.
Xanadu: Investor Presentation
June 30, Xanadu Mines Limited (ASX:XAM) --
GOVERNMENT WILL GIVE FINANCE (to assess environmental damage and compensation)
June 29, Ulaanbaatar, Mongolia, /MONTSAME/ A Cabinet meeting on Wednesday decided to give one billion 541 million to estimate a damage caused by mining activity to the protected zones with water reservoirs and forest reserves.
The money also include expenses for closing mines and for nature restoration on the lands owned by holders of 246 special licenses in 12 aimags.
The finance have been determined by environmental impact assessment commission according to offers from environmental impact assessment organizations.
CABINET MEETING IN BRIEF
June 29, Ulaanbaatar, Mongolia, /MONTSAME/ The cabinet meeting held Wednesday considered as necessity to launch construction works of an auto road through the Gashuunsukhait border checkpoint pursuant to a basic design of its general plan, to finance capital for drawing up general plans of the border checkpoints under repayment term, and to work out the designs.
A proposal has been created by the Minister of Road, Transportation, Construction and Urban Development to finance the expense of developmental general plans for Gashuunsukhait, Shiveekhuren, Bulgan, Burgastai, Khangi and Bichigt border checkpoints, with money of one billion and 190 million.
The money for the financing will be allotted from those enterprisers which carry out their business on the above border checkpoints with the repayment term.
The cabinet considered as necessity to establish intergovernmental agreements between Mongolia and both the Republic of Uzbekistan on letting the diplomatic passport holder visit without visas, and between Mongolia and the Republic of Poland on exempting the official and diplomatic passport holders from visa requirements. The Vice Minister of Foreign Affairs B.Bolor has been given a right to sign the intergovernmental agreements.
A draft package law was backed at the cabinet meeting on abolishing duplication and breaches of the laws on citizens and economics. It will be submitted to parliament reflecting proposals of cabinet members.
MONGOLIA-RUSSIA INTERGOV'TAL MEETING APPROACHES
June 29, Ulaanbaatar, Mongolia, /MONTSAME/ A meeting of the Mongolia-Russia intergovernmental commission will be held from June 29 to July 1 in Ulan-Ude, Russia. On Wednesday, a meeting of the intergovernmental commission's working group ran.
The upcoming meeting will discuss supply and provision of fuel to Mongolia, and a letter of the "Rosneft" addressed to Mongolia's Minister of Mineral Resources and Energy.
MONGOLIA TO WORK ON SATURDAY AND SUNDAY, July 9 and 10
June 29, Ulaanbaatar, Mongolia, /MONTSAME/ A Cabinet meeting on Wednesday decided to transfer July 14 and 15 working days to July 9 and 10--Saturday and Sunday. By doing so the cabinet wants the nation to widely celebrate the 805th anniversary of Great Mongol Empire, the national festival of Naadam, the 90th anniversary of People's revolution.
Mongolia Whittles Down Coal Mine Bidders To Form Group – Sources
June 29, RIO DE JANEIRO -(Dow Jones)- Mongolia's government has whittled down the number of companies in the running to gain rights to the country's giant Tavan Tolgoi metallurgical coal deposit and is attempting to persuade those bidders to work together to develop the mine, coal industry sources said Wednesday.
"Of the six original bidders, they're now down to three or four," said Louisa Pratt, conference producer at Coaltrans, who organized a coal congress in Mongolia last week.
Luiz Sarcinelli, director of Brazil-based coal consultancy Sage Consultoria Tecnica Ltda., said he was "reliably informed" that four companies or groups are still in the running, namely the consortium involving Russian interests, the consortium involving Chinese interests, Brazilian miner Vale SA (VALE, VALE5.BR) and steelmaker ArcelorMittal (MT).
The Mongolian government is working out a proposal for the shortlisted companies to work together "to get the project going more quickly," according to the consultant.
Investments required to develop Tavan Tolgoi's western block -- which is to be put out to private sector operation -- have been estimated at $7.3 billion. A Mongolian state-owned company has been slated to develop the eastern block at the deposit in the Gobi desert, which has estimated reserves of 5 billion metric tons and is expected to produce as much as 10 million tons a year of metallurgical coal for global steelmakers hungry for new sources of the raw material.
However, industry observers attending a Coaltrans event in Rio de Janeiro this week said that while the Mongolia government is seeking a "multi-company solution," companies may find managerial decision-making trickier in a bigger group.
"Can we really see Vale and ArcelorMittal working together on this kind of project?" one observer said.
Representatives of Mitsubishi Corp., which isn't involved in the shortlist for Tavan Tolgoi, said they foresee further slight delays in the announcement of the winners of the bid, which should be known during July rather than this week as was recently expected.
Marcelo Matos, Vale's general manager of coal marketing and sales, said on the sidelines of the Rio event that Vale has a group of people in Mongolia "involved in the Tavan Tolgoi tender," declining to give further details.
Vale already has an existing "large" coal exploration project in the country, he said.
ALL ELECTIONS IN ONE WEBSITE
June 29, Ulaanbaatar, Mongolia, /MONTSAME/ An opening of a “Mongolia's election mapping” website has run at the Government house.
The website hosts results of ten elections that have run since 1992--presidential, parliament and Khural of representatives in localities. All the detailed information is given, including the city, district, and provinces' results, candidates' names, age, parties, etc.
After each election, the website is to be upgraded. The “Mongolia's election mapping” website has been created at the order of the General election committee by an Academy of Political education within the UNDP's "Increase of participation and representation through election system” project.
Mongol Bank has deficit of MNT253.8 billion
June 30 (news.mn) The Inspecting Council of the Mongol Bank recently discussed its financial report for 2010 and decided to send a copy of it to the Standing Committee of Parliament. The report says the Bank ended the year with a deficit of MNT253 billion and 805 million, because of currency rate differences. The Council recommended issuing bonds to plug the deficit.
It also decided to prepare a repayment schedule for the MNT116 billion loan taken by the Government.
Yanukovych says Mongolia offers Ukraine to produce coking coal on its territory
June 29 (Kyiv Post) Ulan Bator has offered Kyiv to produce coking coal in Mongolia, Ukrainian President Viktor Yanukovych said.
"Ukraine is very interested in the issue of coking coal mining in Mongolia, with Ukraine currently importing part of the coking coal from Russia.
We have received such an offer from Mr. President of Mongolia, and our experts will soon go to Mongolia to examine the issues related to the methods of coal mining, its quality, and, of course, the possibility of its shipment, most likely to the territory of Russia," Yanukovych said at a joint press conference with Mongolia's President Tsakhiagiin Elbegdorj in Kyiv on Wednesday after the bilateral talks.
In turn, the president of Mongolia noted that his country was interested in Ukraine's experience of Ukraine in coking coal mining and processing.
Mongolia Interested In Acquisition And Modernization Of Aircraft Manufactured By Antonov Enterprise
June 29 (Ukranian News) Mongolia is interested in acquisition and modernization of aircraft manufactured by the state-owned Antonov enterprise (Kyiv).
President of Mongolia Tsakhiagiin Elbegdorj announced this at a Ukrainian-Mongolian business forum.
"Probably, we will have money from this ore. Then, of course, we will buy aircraft manufactured by Antonov. We have had Antonov aircraft for more than 60 years, but they are outdated and we talked today about how to update them," said Elbegdorj.
In addition, he said that the possibility of modernization of aircraft manufactured by the Antonov state enterprise directly in Mongolia was discussed.
As Ukrainian News earlier reported, Ukraine is considering the possibility of participating in the mining of coal and uranium ores in Mongolia.
Incentive Travel Specialist Runs First Mongolia Trade Mission
Incentive travel specialist, CT Group Travel, declares its first ever trade mission to Mongolia a huge success.
CT Group Travel is the UK’s leading organiser of overseas trade missions, organising and managing up to 2 trade missions every week of the year.
…
LSE, TMX abort their merger, leaving both in play
June 29 (Reuters) - The London Stock Exchange's C$3.6 billion ($3.7 billion) plan to buy its Toronto counterpart collapsed on Wednesday in the face of a competing bid led by Canadian banks, leaving the UK exchange itself vulnerable to takeover.
The failure, which follows Singapore Exchange Ltd.'s scuttled bid for Australia's ASX Ltd, is the latest sign of nationalist pride frustrating cross-border deals for highly symbolic capital markets.
The failed bid from LSE opens the door to a hostile C$3.8 billion offer for TMX Group, operator of the Toronto Stock Exchange, from the Maple Group consortium. The consortium bid is a made-in-Canada alternative to a takeover that would have put a big domestic asset in foreign hands.
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<Mogi & Friends Fund A/C>
Total +4.5%, Quarter-to-date -40.5%
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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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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