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Close: Mongolia Related ASX Listed Companies, August 19, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.075 | -0.003 | 0.075 | 0.076 | 0.073 | 0.079 | 0.073 | 39,409,159 | |
1.065 | -0.025 | 1.060 | 1.065 | 1.050 | 1.080 | 1.030 | 469,499 | |
0.200 | -0.010 | 0.195 | 0.200 | 0.210 | 0.210 | 0.195 | 354,517 | |
0.440 | -0.040 | 0.440 | 0.450 | 0.465 | 0.465 | 0.435 | 991,318 | |
0.010 | 0.000 | 0.010 | 0.011 | 0.010 | 0.011 | 0.010 | 3,941,983 | |
0.094 | -0.003 | 0.092 | 0.094 | 0.088 | 0.098 | 0.088 | 10,154,631 | |
0.115 | -0.025 | 0.115 | 0.125 | 0.125 | 0.125 | 0.115 | 247,450 | |
0.925 | -0.070 | 0.910 | 0.930 | 0.975 | 0.975 | 0.905 | 1,163,584 | |
0.300 | 0.000 | 0.280 | 0.300 | 0.000 | 0.000 | 0.000 | 0 | |
0.047 | -0.003 | 0.046 | 0.047 | 0.047 | 0.048 | 0.043 | 8,527,974 | |
0.395 | -0.020 | 0.395 | 0.410 | 0.410 | 0.415 | 0.390 | 232,474 | |
21.410 | -0.890 | 21.410 | 21.480 | 21.500 | 22.000 | 21.300 | 2,154,702 | |
69.420 | -3.920 | 69.410 | 69.420 | 70.800 | 71.160 | 69.010 | 4,465,546 | |
37.500 | -1.600 | 37.490 | 37.510 | 37.900 | 38.120 | 37.420 | 14,566,564 | |
Source: asx.com.au
Press Release: Envidity launches USD $ 1 Billion Coal Gasification Project in Mongolia
August 19, 2011, Ulaanbaatar (Wire Service Canada) - Retired US Army General Wesley Clark, Chairman of Envidity Inc., announces the commitment of funds to launch a US$1 billion Mongolian Underground Coal Gasification-Gas to Liquids project. The project will transform low-quality deeply-embedded, underground coal into high-quality fuel, and is a first step towards fuel independence for Mongolia.
"Within two years of launching the Envidity project, domestic production of fuel from Mongolia's coal reserves will begin", General Clark announced. "With the Envidity project at full production, the Mongolian people will no longer need to line up at gas stations for a 20 liter quota of high-priced foreign supplied fuel. Mongolia will become a fuel exporter in the future" Clark continued.
In August of last year, Envidity entered into an exclusive agreement with operator Live Energy Group LLC and Shine Shivee LLC, to transform economically stranded coal, that is over 150m deep in the strategic Shine Shivee license areas, into domestic fuel for Mongolia. On July 22 of this year Envidity exercised that option.
Envidity's project has been recognized and encouraged by Senior Mongolian Government officials as a viable way to tackle the issue of Mongolian fuel self-sufficiency given its potential to produce 1,000 barrels per day of synthetic diesel, that will satisfy 10% of local demand within 24 months, and 15,000 barrels per day within 60 months.
Canadian and US government officials are closely following the project.
"Prime Minister Batbold asked me in March 2010 during a meeting in Ulaanbaatar to help bring this kind of project to Mongolia. With the Envidity Project now ready for launch, I have kept my promise to the Prime Minister in bringing this patented UCG-GTL technology to Mongolia to allow domestic production of transport fuels. This is a key strategic project for Mongolia. I look forward to advancing this project with the Mongolian government, and trust that Prime Minister Batbold will underscore his commitment to this project." Clark concluded.
The project will provide Mongolia with the largest clean-energy technology transfer in its history, offering a source of clean and reasonably priced fuel and electricity for years to come. The project is expected to create 3,000 construction and 150 permanent higher salaried jobs for the Mongolian people. The project has the potential to establish over 7 commercial plants in the next 15 years and will bring as much as $7B in investment.
Garrison International acquires Nallaa coal-uranium prospect in Mongolia
August 18 (The Canadian Press) TORONTO - Junior gold and mineral explorer Garrison International Limited (TSXV:GAU) has acquired the Nallaa coal and uranium prospect in Mongolia.
The Toronto-headquartered company said Thursday the property covers an area of 73 square kilometres in the Dundgobi region of central Mongolia, which is a known coal basin with additional possible uranium deposits.
The property was acquired through the US$22,000 purchase of Dehroy Financial Advisory LLC , a Mongolian company that holds the exploration licence for the prospect.
"Previous Russian explorers had developed several small mining pits in this area and bulk samples were sent to Russia for analysis," said Blair Krueger, president of Garrison, a company listed on the TSX Venture Exchange.
"While this data is not currently available, the sites do provide guidance as to the presence of uranium bearing horizons."
In trading on the TSX Venture Exchange, Garrison shares fell half a cent to four cents, a drop of 11 per cent.
Voyager Completes Acquisition of 50% of KM Project
August 18, Voyager Resources Limited (ASX:VOR) --
The Company is pleased to announce that it has acquired a 50% interest in the KM Copper Porphyry Project in the South Gobi Region of southern Mongolia.
Voyager has accelerated the acquisition given the recently released exceptional drill results from the Cughur discovery. Under the agreement, Voyager has the right to take its total ownership of the project to 80%.
Recent drill results confirmed a major new high grade copper discovery at the Cughur Prospect within the KM Copper Porphyry Project.
Ø Drilling at the Cughur discovery has returned exceptional results, with the first three (80m deep) Reverse Circulation (RC) drill holes ending in high grade copper mineralisation. Results include:
§ 66 metres at 1.48% copper and 5.4 g/t silver from 14 metres to end of hole (KM0011RC)
§ 50 metres at 3.51% copper and 10.8 g/t silver from 30 metres to end of hole (KM0012RCD)
§ 10 metres at 4.06% copper and 16.2 g/t silver from 70 metres to end of hole (KM0013RCD)
Ø Two RC holes have been extended by diamond core drilling with copper mineralisation of varying intensity being mineralogically logged as follows:
§ KM0012RCD, strong chalcocite to 86.5 metres with weaker chalcocite and moderate chalcopyrite to 156 metres depth
§ KM0013RCD, strong chalcocite to 84.0 metres with weaker chalcocite and moderate chalcopyrite to 118 metres depth
Ø The Cughar discovery remains open at depth and along strike.
Ø Further geological mapping of the KM Project has extended the alteration zone that encapsulates Cughur to an area covering 4.6km x 1.6km.
Ø Three drilling rigs are now operating on the KM Copper Porphyry Project, with a fourth rig expected to mobilise to site in early September
Ø Further analytical results from the Cughur discovery are imminent with results expected by early next week
Ø Voyager is fully funded with $9.67 million in cash reported at the end of the June quarter.
…
Annual Report, 30 June 2011 – Voyager Resources Limited, August 19
Haranga: Half-year Financial Report 2011
August 18, Haranga Resources Limited (ASX:HAR) --
East Asia Minerals Announces Change in Board of Directors
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2011) - East Asia Minerals Corporation (TSX VENTURE:EAS) announces the resignation of Mr. John Wright as a Director of the Company.
The Company thanks Mr. Wright for his services since joining East Asia Minerals. Mr Wright has 35 years of mining experience in engineering, construction and operations of both open pit and underground mines in North and South America. Mr. Wright brought timely mining experience to the Company, and his contributions to the Board of Directors are appreciated. Moving forward with the new corporate strategy, Mr. Wright's skill set was not appropriate for the Company with the slow-down at Miwah.
The Company is currently reviewing for a replacement Director to the Board of Directors as it moves forward with its new management team and strategy.
Origo Partners PLC: Follow-on Investment in China Rice Ltd
August 18 -- Origo Partners Plc ("Origo", LON:OPP) is pleased to announce a follow-on investment of up to US$10 million in China Rice Ltd ("China Rice" or "the Company"), an existing Origo portfolio company.
In March this year, Origo invested US$13 million in China Rice, a Jilin-based rice processing business serving the fast growing Chinese market for safe, healthy, premium rice products - in particular Japonica rice - grown primarily in northern China.
The price of rice in general - and especially Japonica rice - has increased steadily in China during the course of 2011 and is expected to rise further in the second half of 2011. The combination of shorter than expected supply and higher demand for premium rice varieties occurring amidst general inflationary pressures and strong consumer led GDP growth in China, is providing a favorable market environment for China Rice.
In conjunction with the original investment in China Rice preferred stock, Origo was granted the option to invest an additional US$10 million in the form of notes convertible into equity subject to certain financial performance conditions being met. Origo has now entered into definitive agreements to affect the subscription of the loans and advanced the first US$5 million to the Company.
China Rice will use the proceeds of the financing as procurement funding to lock in supplies of paddy-rice at favourable prices in preparation for the high season (November to March), which Origo expects will significantly boost the Company's financial performance in 2012.
Commenting on the announcement, Chris Rynning, Chief Executive Officer of Origo, said:
"Since our initial investment in March, the performance of China Rice has exceeded our expectations, in particular in terms of strengthening its management team and preparing the business for further growth. Meanwhile, the procurement price of Japonica rice has risen by almost 15 per cent year on year, and we expect prices to continue to increase significantly by the end of the year. Accordingly, there now exists a clear opportunity to secure paddy-rice at substantial discounts to year end prices. This cash injection will enable China Rice to capitalise on this opportunity while continuing to ramp up production."
Mongolia says Japan, Korea cos in Tavan Tolgoi auction
* S.Korea, Japan firms still on shortlist
* Mongolia says disappointed by S.Korea, Japan proposals
* S.Korea, Japan proposals did not include downstream projects
* S.Korea revising its proposal to include steel plants
ULAN BATOR, Aug 18 (Reuters) - Mongolia cleared up confusion over its auction of a block of its Tavan Tolgoi coal deposit on Thursday, confirming Japanese and South Korean bidders remained, the latter involving companies now revising their proposals.
Ch. Khurelbaatar, head of the project selection committee, said it was an oversight that the firms had not been confirmed on a short-list in late June despite being part of a Russian-led consortium.
The committee only sent notices to the firms leading the consortiums -- China's Shenhua, U.S. firm Peabody Energy and Russian Railway.
That sparked an outcry from the South Korean and Japanese governments.
While confirming the Japanese and Koreans were still part of the shortlist, Khurelbaatar added that the committee had been disappointed with their proposals.
"We were looking for candidates that can add downstream projects, such as steel plants in Mongolia. But Korea and Japan did not include those in their bids," Khurelbaatar told a forum in Ulan Bator which was broadcast live to the country.
"It is impossible to deal with participants who think that Mongolia does not need these value-added projects and new technology."
He added that Japan and South Korea, being major global steel producers, might be worried about turning Mongolia into a future steel competitor.
Khurelbaatar said the South Korean firms have said that they would revise their proposal to include the construction of steel plants. He did not reveal whether Japanese firms Itochu Corp , Sumitomo Corp , Marubeni Corp and Sojitz Corp would do so.
With the Koreans revising plans, final results of the tender could be delayed by several more months. That could delay an initial public offering on the east Tsankhi block which the government had hoped to launch by the first quarter of 2012.
Bankers have estimated the IPO could raise $10-$15 billion.
State miner Erdenes Tavan Tolgoi LLC said it still hoped to launch the IPO by early 2012 and that it has picked PricewaterhouseCoopers to conduct a pre-IPO audit.
Forum on Tavantolgoi deposit held
August 19 (news.mn) A forum on the development of the Tavantolgoi coal deposit was held at the Civil Hall at the Presidential Office in Ulaanbaatar on Thursday.
Mongolia has been shipping coal from Tavantolgoi to China for three weeks.
During the discussion, some experts said Mongolia was selling the coal too cheaply. Mongolia sells the coal to China for USD 70 per ton. They say Mongolia's profit is only USD 10 per ton. An official with the national security council said the Government should focus on water and energy issues while developing Tavantolgoi, because, if Mongolia is unable to provide water and energy from domestic sources, it will affect the nation's economic security.
According to a draft resolution in Parliament, each Mongolian is to receive 536 shares of Tavantolgoi.
Sugar: Japanese, Korean companies still in running for Tavantolgoi
August 19 (news.mn) At a forum on developing the Tavantolgoi deposit held at the Civil Hall in Ulaanbaantar on August 18, several participants criticized the way contracts have been awarded for the project. Our correspondent spoke with D. Sugar, the head of State Property Committee. He is also the head of the management board of "Erdenes MNG," a member of the working group to award contracts for Tavantolgoi.
- How do you respond to criticism about the Tavantolgoi contracts?
- Everything is on schedule. If all the preparatory work is completed, the IPO of Tavantolgoi will take place by the first of next year. The sooner it sells, the more returns the Government will receive. Everything is expected to be arranged in 2012, and the first bonuses are supposed to be released in 2013.
- What about negotiation with international investors?
- Mining has already begun in the Zuun Tsankh area of Tavantolgoi. We expect one million tons of coal to be extracted in the first year. When the operation there expands, we will need more operator companies. Negotiations for developing the Baruun Tsankh area of Tavantolgoi are still ongoing.
- Why aren't Japanese and Korean companies among those awarded contracts for Tavantolgoi?
- The first thing is, Japanese and Korean operating companies have not been eliminated. There is no official decision yet. When we started negotiations, China and Russia expressed strong interest to us. But the Japanese and Korean operating companies did not offer high technology. They only wanted to buy coal. Again I want to say again that we have not reached a final decision. We have asked them to review their offers.
- What have you focused on in assessing the various bids?
- Many experienced, educated experts in various fields have participated in the process. They offered some good ideas and advice. But, the thing is, the working group of the State Property Committee has limited rights. For instance, the experts said it was wrong to divide Tavantolgoi into two parts for development. And some said domestic companies, not foreigners, should develop the project. But those issues can only be addressed in Parliament. It requires a lot of planning and research to implement this project. We consider the critiques.
- When will the contracts with the operating companies be signed?
- We hope this issue will be resolved this year. Exploration and extraction has already begun at Zuun Tsankh. But we want to focus on getting mining companies to cooperate, to improve the process. Previously, Australian and German companies expressed interest in operating. There is a possibility we could form some sort of consortium.
- There have been accusations of corruption in the process. Will you make any comment?
- I do not want to comment on that. I can say that I did not do anything wrong.
President Lee to meet Mongolian leader today
August 21 (Korea Times) ULAN BATOR ― President Lee Myung-bak will hold talks with his Mongolian counterpart Tsakhia Elbegdorj in Ulan Bator Monday, a day after arriving in the capital city.
Lee will discuss ways to strengthen bilateral ties in energy, health, agriculture, development cooperation and human exchange with the Mongolian leader.
At the summit, Lee and Elbegdorj are expected to adopt a Korea-Mongolia Joint Statement and a mid-term action plan to bolster bilateral cooperation.
The Korea-Mongolia summit is Lee's first stop on his five-day trip to resource-rich Central Asia. The Korean president will also visit Uzbekistan and Kazakhstan.
Joining Lee's Central Asia trip are Minister of Foreign Affairs and Trade Kim Sung-hwan and several Korean business leaders.
Korea is Mongolia's fourth largest trading partner. About 1 percent of the Mongolian population works in the manufacturing sector as workers in Korea. They send remittances to their home country, which makes up nearly 10 percent of its gross domestic product.
"In terms of a trading volume, Mongolia is not a significant trading partner for Korea but it is an important country both strategically and culturally," a high-ranking presidential official said, asking for anonymity.
Mongolia is one of the top 10 resource-rich nations in the world and demand for infrastructure building there is high.
After holding the summit with the Mongolian leader, Lee is set to have lunch with business leaders from the two nations, which will be followed by meetings with Korean nationals living there.
After wrapping up the Mongolia trip, Lee will head to Tashkent for a summit with Uzbekistan leader Islam Karimov, Tuesday.
The two leaders are expected to discuss ways to strengthen relations in energy, natural resources, finance and information technology. They are set to sign a non-binding accord aimed to bolster cooperation in health, medical service, information technology and the fabric industry.
Nearly 30,000 Uzbek workers are now employed in the manufacturing sector in Korea.
Several Korean energy firms are doing business in Uzbekistan.
The country has the largest ethnic Korean population in Central Asia.
After finishing the one-day trip to Uzbekistan, Lee will visit Astana Wednesday at the invitation of Kazakhstan leader Nursultan Nazarbayev.
The two leaders will hold talks a day after Lee's arrival in the country. They will adopt a non-binding agreement aimed to work closely together in trade, investment, energy, natural resources, environment, health, information technology and agriculture. After the summit, Lee will attend a Korea-Kazakhstan business forum.
Lee returns to Seoul Friday.
President Lee likely to meet Biden in Mongolia: official
WASHINGTON, Aug. 18 (Yonhap) -- South Korean President Lee Myung-bak is expected to meet U.S. Vice President Joe Biden in Mongolia next week on a coincidental visit, Washington officials said.
Lee plans to travel to Mongolia from Sunday to Tuesday, followed by tours of Uzbekistan and Kazakhstan. Biden is also scheduled to visit Mongolia after his trip to China.
"Through the miracle of scheduling, we're going to be there at the same time," a senior U.S. administration official told reporters accompanying Biden for his Asia swing, according to a transcript released by the White House.
"We've signaled to them that we would -- that the Vice President would -- be delighted if it were possible to get together, and they have signaled that President Lee feels the same way," the official added on the customary condition of anonymity.
The two sides are still in consultations on details of the possible meeting, the official said.
Hyundai Becomes Largest Passenger Car Seller In Mongolia
SEOUL, Aug 18 (Bernama) -- Hyundai Motor Co., South Korea's largest carmaker, said on Thursday that it has become the No 1 seller of passenger cars in Mongolia in the first half of the year.
Yonhap news agency reported that Hyundai also has been selected by the Mongolian government to supply taxis to replace old vehicles, that have been cited for bad fuel economy and air pollution.
Under the deal, the carmaker will supply 1,200 Avante compact cars that will further solidify Hyundai's control of the taxi market.
At present, around 85 percent of all taxis in the country are made by the company.
The company said that it has sold 583 new vehicles in Mongolia, outpacing Toyota Motor Co. and Nissan Motor Co., which sold 524 and 185 passenger cars, respectively, in the January to June period.
In the first half, a total of 1,572 new cars were sold in the country, with sales likely to reach around 1,000 units in the second half, Hyundai said.
EXPORT FINANCE LOAN BY THE GOLOMT BANK AND THE COMMERZBANK AG
August 19 (infomongolia.com) The Golomt Bank of Mongolia intends to issue an export finance loan in association with the Commerzbank AG of the Federal Republic of Germany to the business entities involved in foreign trade in Mongolia.
The ceremonial cooperation contract sign-off activity regarding the export finance loan was held on August 18th in which attended the administrative management team of the Golomt Bank and the Commerzbank AG as well as the Ambassador Extraordinary and Plenipotentiary of Germany to Mongolia Pius Fisher respectively.
The cooperation contract leverages the financial circumstances of the business entities in Mongolia through the scope of importing industrial equipments and heavy machineries from Japan, South Korea, Italy and United States under the flexible and supportive loan incentive terms and conditions such as easy access to the investments for the exporters and timely refund of the loan amount for the importers according to the fixed schedule.
The Golomt Bank of Mongolia intends to issue an export finance loan in association with the Commerzbank AG of the Federal Republic of Germany to the business entities involved in foreign trade in Mongolia.
The ceremonial cooperation contract sign-off activity regarding the export finance loan was held on August 18th in which attended the administrative management team of the Golomt Bank and the Commerzbank AG as well as the Ambassador Extraordinary and Plenipotentiary of Germany to Mongolia Pius Fisher respectively.
The cooperation contract leverages the financial circumstances of the business entities in Mongolia through the scope of importing industrial equipments and heavy machineries from Japan, South Korea, Italy and United States under the flexible and supportive loan incentive terms and conditions such as easy access to the investments for the exporters and timely refund of the loan amount for the importers The export finance loan shall be enrolled through the Golomt Bank of Mongolia by the currencies USD's and Euro's to the loan holders under the leveraged back up with Commerzbank AG as well as the several other banks of Switzerland, Germany and Czech Republic.
Link to Golomt release (in Mongolian)
EXCISE TAX FOR DIESEL FUEL TO INCREASE
August 18, Ulaanbaatar, Mongolia /MONTSAME/ The excise tax imposed on diesel fuel imported through Altanbulag, Zamyn-Uud, Sukhbaatar and Ereentsav border checkpoints will go up from zero to MNT 100 thousand per ton, pursuant to a cabinet decision made on Wednesday, August 17.
The excise tax imposed on auto and diesel fuels imported through other border checkpoints will be not changed. These changes will come to force on August 19.
CH.KHURELBAATAR GIVES REPORT ON BANK OF DEVELOPMENT
August 18, Ulaanbaatar, Mongolia /MONTSAME/ At the cabinet meeting held on Wednesday, August 17, a head of Cabinet Secretariat of Government Ch.Khurelbaatar gave a report activities of the Bank of Development.
According to him, shares of MNT 800 billion will be released in accordance with parliamentary and governmental resolutions with an aim to create a financial source of the Bank of Development. Thus, the Stock Exchange of Mongolia (MSE) has been working to releasing the shares. After hearing the report, the cabinet has reminded authorities of the Bank of Development to intensify financing of the biggest projects, and the Premier also has given specific orders to them.
The financing matter will be re-discussed at a regular cabinet meeting on next Wednesday.
ABOUT CREDIT GUARANTEE FOR NEW MICRO-DISTRICT
August 18, Ulaanbaatar, Mongolia /MONTSAME/ The cabinet has discussed and backed in principle a matter on taking a loan of MNT 300 billion from the Export-Import Bank of China, in order to create a financial source for the "Shine Yaarmag" apartment micro-district. A related governmental resolution will be issued.
In accordance with the resolution, head of the Representative Leading Board of the Bank of Development Ch.Khashchuluun has been allowed to release a credit guarantee for the loan under a term of 12 years, and so head of the Cabinet Secretariat of the Government Ch.Khurelbaatar will put control over implementation of the resolution.
The new micro-district will be erected in two phases dividing into three parts.
Ministry of Foreign Affairs: No nuke waste deal in the works
August 18 (news.mn) United States Vice President Joe Biden might encounter some protesters when he visits Mongolia on Monday, August 22. Mr. Biden was invited to Mongolia by Prime Minister S.Batbold to show that Mongolia regards the U.S. as a "third neighbor.
"Officials say during Mr. Biden's visit the two sides will discuss political and economic issues. But the Green Coalition and some activists suspect the real purpose of the visit is to discuss the possibility of burying nuclear waste in Mongolia.
The Ministry of Foreign Affairs denies this. A Foreign Affairs official said, "There is no nuclear waste deal between the two nations. An official statement will be issued soon."
Mr. Biden's visit comes 67 years after a former U.S. vice president, Henry Wallace, visited Mongolia.
Mongolian defense officials tour Russian weapons factories
Three high-ranking Mongolian defense officials toured weapons factories in Russia on August 16.
Defense Minister L. Bold and two members of the Standing Committee on Security and Foreign Policy, R. Amarjargal and E. Munkh-Ochir, visited a weapons and military aviation factory in Ijevsk and a bullet factory in Klimovsk.
The delegation was greeted by the president of the Russian republic of Udmurtia.
The three Mongolian officials also saw a demonstration of aviation technology at the MAKS 2011 International Aviation and Space Salon near Moscow on August 17.
Russian Prime Minister Vladimir Putin gave the opening remarks at the event, which showcased civilian and military aircraft. Defense Minister L. Bold also met with Russian Lieutenant General V.K. Dzirkaln to discuss military cooperation.
Mongolia's Defense Ministry said it intends to buy some Russian technology for its own military.
Border towns witness China-Mongolia trade boom
HOHHOT, Aug. 20 (Xinhua) -- The booming China-Mongolia border trade has given Erenhot, a Gobi town in north China's Inner Mongolia Autonomous Region, a more important regional status, as it's poised to host the China-Mongolia-Russia Economicand Trade Cooperation Fair at the end of the month.
The organizing committee said on Friday that over 200 firms from the three countries have registered to take part in the fair slated from Aug. 26 to 30, which will feature exhibits ranging from home appliances, construction and decoration materials to heavy machinery.
The city, with a population of 100,000, sits on the China-Mongolia-Russia railway and serves as China's largest land customs station with the Republic of Mongolia.
Bayaermen, a Mongolian businessman, has been doing business in Erenhot for six years and has thrived in the lucrative trade market.
"Three years ago, I was driving my jeep to Ulan Bator to trade small, China-made commodities, but eventually I shifted the business focus to construction materials, thanks to the regional development of the railway infrastructure," he said.
He said as the economic growth gathers speed, Mongolia's demand for China's construction materials increases.
Since 1998, China has been Ulan Bator's top trade partner and its largest source of foreign investment. Bilateral trade between the two countries jumped by 64 percent year-on-year to 3.9 billion U.S. dollars last year.
Erenhot isn't the only border town that has benefitted. Among a dozen other land ports on China's border with Mongolia, Ganqimaodu in Bayan Nur City has also witnessed fast urbanization, as it shifted from a small town to a bustling logistics distribution center in the past four years, mainly thanks to coal imports from Mongolia.
Trade via Ganqimaodu soared by 85.6 percent year-on-year in the first half year to 600 million U.S. dollars.
Mongolia, US build friendship during Khaan Quest 2011
August 18 (DVIDS) ULAANBAATAR, Mongolia - The Engineering Civic Action Program portion of Exercise Khaan Quest 2011 was completed with a ribbon cutting for the opening of the Ayut Family Hospital in the Khan-Uul District of Ulaanbaatar Aug. 11.
Mongolian and U.S. service members teamed-up to expand an existing health clinic. The addition to the hospital includes eight treatment rooms, a waiting room, a bathroom and a heating system to use during the harsh Mongolian winters.
Mongolian armed force's construction workers teamed up with Marines and sailors from 9th Engineer Support Battalion, III Marine Logistics Group, III Marine Expeditionary Force, and American soldiers from 643rd Company, 84th Battalion, 30th Brigade, to complete the job.
"I feel great about working with the U.S. forces again, especially since we were building a hospital," said Sgt. Batbayar Amarbayar, mason and interior specialist, Mongolian armed forces. "I've been working with the U.S. forces on different projects every year since 2007."
Amarbayar said this hospital will be beneficial to the community for years to come.
"Building projects like this hospital are especially good for this community because [the community is] mostly below the poverty line, and it will allow them to get quality medical care," Amarbayar added.
Jonathan S. Addleton, the U.S. ambassador to Mongolia, was present and gave the final words before the facility was opened.
"This multinational effort was not only a good example of a humanitarian mission but also of multinational cooperation," he said. "This type of mission also prepares service members to respond to humanitarian missions overseas."
Several who helped build the medical facility said they hope it will significantly improve medical care for the surrounding community. After the dedication of the building was complete, a few local elders shook the hands of everyone they saw in a military uniform.
"As we can all agree, personal health is priceless," said Maj. Gen. Bayarmagnai, chief of general staff, Mongolian armed forces.
"We are very grateful for the military and local physicians who aided the people of this area," he added.
One in 10 Deaths in Mongolian Capital Caused by Air Pollution
August 18 (eponline.com) A new study by Simon Fraser University's Ryan Allen shows one in 10 deaths in Mongolia's capital city of Ulaanbaatar can be attributed to air pollution. His research, in collaboration with colleagues in Ulaanbaatar, was recently published online in the journal Air Quality, Atmosphere and Health.
"Ulaanbaatar hasn't received as much attention as some of Asia's mega-cities, but the air pollution there is as bad as anywhere in the world," said Allen, an assistant environmental health professor with Canada's Simon Fraser University. "Our main objectives in this study were to characterize the situation and quantify air pollution's impact as a public health problem.
"The environment's impacts on health are often overlooked, but we found that one in 10 deaths in Ulaanbaatar can be attributed to air pollution. That far exceeds the number of deaths in the city caused by things that people may be more familiar with, such as traffic accidents."
Previous research, mostly conducted in North America and Europe, has shown air pollution causes a wide range of health effects, such as respiratory illness and cardiovascular effects, including heart attacks and strokes. The public health impact is particularly large in many parts of Asia because of the extraordinarily high concentrations of air pollution and large exposed populations.
Using government-supplied measurements, the researchers found concentrations of fine particles in Ulaanbaatar's air were more than seven times the level considered safe by the World Health Organization. Using a range of techniques, including satellite images to map pollution across the city, researchers discovered the situation was even worse in the city's low-income neighborhoods, where coal is burned for heat.
"Even in a highly polluted city, there can be a lot of variation in exposure depending on where you live," said Allen.
Pollution levels are especially bad in the winter, when bitterly cold temperatures force residents to burn more coal and the pollution is trapped by nearby mountains, choking the city in a cloud of polluted air.
"This is a very serious problem in Mongolia and in many other parts of the developing world, and it needs to receive the same attention and resources as any other major public health or development challenge," said Allen.
Mongolia to export 260 falcons
August 19 (news.mn) Mongolia's Environment and Tourism Ministry is planning to export about 260 live falcons this year. By law, a falcon catcher must contract with and be supervised by a local government. Most of the birds are expected to be sent to Persian Gulf countries. The export of falcons from Mongolia is controversial because some conservation groups consider the birds to be endangered. Last year Mongolia exported 240 falcons to the United Arab Emirates, Qatar, and Kuwait. The cost of each falcon last year was estimated at USD 12,000.
<Mogi & Friends Fund A/C>
+3.1%
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.
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Mogi
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"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
P Please consider the environment before printing a copy of this email.
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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