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.
Wish to subscribe or unsubscribe? Let me know.
Close: Mongolia Related ASX Listed Companies, August 24, 2011 | | |||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.079 | 0.001 | 0.079 | 0.080 | 0.081 | 0.081 | 0.078 | 15,270,288 | |
1.085 | -0.015 | 1.080 | 1.085 | 1.150 | 1.150 | 1.080 | 788,414 | |
0.180 | -0.005 | 0.180 | 0.190 | 0.190 | 0.190 | 0.180 | 175,960 | |
0.495 | 0.010 | 0.480 | 0.495 | 0.480 | 0.500 | 0.475 | 1,227,017 | |
0.013 | -0.001 | 0.012 | 0.013 | 0.014 | 0.014 | 0.013 | 12,114,862 | |
0.087 | -0.002 | 0.086 | 0.087 | 0.094 | 0.094 | 0.086 | 5,059,443 | |
0.140 | 0.000 | 0.140 | 0.145 | 0.145 | 0.145 | 0.140 | 181,750 | |
0.985 | -0.010 | 0.975 | 0.985 | 1.025 | 1.030 | 0.980 | 617,518 | |
0.300 | 0.000 | 0.250 | 0.280 | 0.000 | 0.000 | 0.000 | 0 | |
0.047 | 0.002 | 0.046 | 0.049 | 0.051 | 0.052 | 0.046 | 17,741,634 | |
0.425 | -0.005 | 0.420 | 0.430 | 0.430 | 0.430 | 0.420 | 144,544 | |
21.310 | -0.690 | 21.310 | 21.320 | 22.210 | 22.480 | 21.110 | 2,066,610 | |
68.930 | -1.170 | 68.930 | 69.000 | 70.900 | 71.210 | 68.930 | 3,409,078 | |
38.210 | 0.000 | 38.200 | 38.210 | 38.450 | 38.770 | 37.850 | 13,204,216 | |
Source: asx.com.au
GUF closed down 1c to 98.5c
Guildford Coal Mulls ASX Listing Of Mongolia Coal Unit
August 24, SYDNEY -(Dow Jones)- Guildford Coal Ltd. (GUF.AU) said Wednesday it is looking at listing its Mongolian coal assets separately on the Australian Securities Exchange, the latest in a string of miners vying to take advantage of rising investor interest in the landlocked North Asian country's resources.
The company said it has retained UBS AG (UBS) to advise on a possible listing of Terra Energy, which is expected to produce its first coal from the South Gobi project in Mongolia in the first half of next year. It didn't say how much it intends to raise via the proposed initial public offering, or IPO, of Terra Energy, which it controls with a 70% stake.
Guildford, which also owns coal assets in Australia's Queensland state, said a mine with an annual production capacity 2 million-3 million metric tons of coal could be built at the South Gobi development site.
Its resource is located around 30 miles east of two operating mines, including one owned by Hong Kong-listed SouthGobi Resources Ltd. (1878.HK), producing a combined 5 million tons of coal annually that is sold to customers in northern China's Gansu and Shanxi provinces and Inner Mongolia region.
In a statement, Guildford said the South Gobi project contains both high-quality coking coal used in steelmaking and thermal coal used in power generation. It expects to firm up resources in the October-December period.
"The Guildford board believes that the potential Terra Energy IPO on the Australian Securities Exchange will provide investors with an excellent opportunity to invest in a portfolio of quality Mongolian projects with near-term production potential," Craig Ransley, Guildford's chairman said.
Interest in Mongolia's resources is rising among western mining companies, which have found themselves increasingly locked out of many of the biggest deposits in China and neighboring Russia by a regulatory environment that favors local firms.
In July, the Mongolian government selected a consortium including U.S. coal company Peabody Energy Corp. (BTU) to develop the Tavan Tolgoi deposit, one of the world's largest untapped reserves of coking coal.
Rio Tinto PLC (RIO) and Ivanhoe Mines Ltd. (IVN) are also investing billions of U.S. dollars in Mongolia to develop the Oyu Tolgoi copper deposit.
TVN closed up 0.2c to 4.7c
TVN Corporation extends coal seam over 2.4km at Nuurst Project in Mongolia
August 24 (Proactive Investors Australia) TVN Corporation (ASX:TVN) has reported a 97.5 metre thick coal sequence from latest drilling at the Nuurst Project in Mongolia.
Hole NDH 05 intersected the 97.5 metre thick coal sequence which includes a cumulative down hole coal seam thickness of 36.6 metres.
Hole NDH 05 was drilled 800 metres further north along strike from the previously reported hole NDH 04. This extends the known coal seam development a further 800 metres north.
Coal seam development is now defined over 2.4 kilometres of strike length. Assays from NDH 04 show consistent coal quality.
With a significant overall strike length now defined, the focus of exploration efforts will move to the southern end of the known coal seam development to delineate the seam profile across the Licence area.
Hole NDH 06 (currently being drilled) is testing the coal thickness proximal to the coal present in the first trenches.
The Nuurst Project is a 3,451 hectare exploration licence located 120kms south of Ulaanbaatar in an area with a number of operating coal mines.
Nuurst is 6 kilometres from existing rail infrastructure providing low cost access to the key coal export markets of China, South Korea and Japan. TVN has entered into an option agreement to purchase the Nuurst Project.
AKM closed up 1c to 49.5c
Argonaut Research: AKM – SPECULATIVE BUY, TP $0.96
August 19, Argonaut Securities --
Site Visit:
Argonaut recently visited Aspire Mining’s (AKM) Ovoot Coking Coal Project and Jilchigbulag coal projects in Mongolia’s north west.
AKM has defined a JORC Resource of ~331Mt at Ovoot, which is amenable to open pit mining and covers ~10% of the 509km² project. Coal quality test work (to date) has exceeded expectations. Washing analysis indicates a theoretical yield of 80%, to produce an 8% ash product and a CSN of 8 – 9, rating Ovoot as a mid-volatile coking coal.
Currently AKM is in the final stages of completing the ‘Stage 1’ Scoping Study, which envisages a small (~5Mt) ‘starter pit’, trucking unwashed coal via road to the Erdenet rail facilities (560km) at a rate of 0.5-1.0Mtpa starting in December Q 2012.
A PFS for Stage 2 (~15Mtpa ROM) is underway and due for completion in December 2011. We envisage full scale production could commence from 2017 (contingent on future rail developments).
Impact: Positive
We have put some ‘high level’ project assumptions around Stage 2, including capital and operating cost estimates, as well as comparing Ovoot to both Mongolian and Australian peers. The key takeaway is the near unrivalled leverage AKM offers to metallurgical coal prices.
View: Positive
The risks are significant; AKM is likely to require ~570km of rail (connecting Ovoot to Erdenet) to be built, as well as access to both the Trans Mongolian and Trans Siberian rail networks to reach seaborne markets (~>4,000km haul).
But as is the prize; a potential ~12Mtpa, quality hard coking coal deposit in proximity to Asian export markets, positioning AKM as a globally meaningful producer.
Despite its early stage status, it has already attracted corporate attention from more established Mongolian players (SouthGobi and Noble Group). Critically, AKM still retains 100% control of both the project and off-take, which we would expect to be a key bargaining chip in obtaining project funding.
Recommendation: Spec Buy
Argonaut rates AKM a Speculative Buy. Valuation - $0.96.
Ivanhoe shares rally after good news on Mongolian project
August 23 (The Globe and Mail) Shares of Ivanhoe Mines Ltd. (TSX:IVN, NASDAQ:IVN) soared 20 per cent Tuesday, far past its base metal peers, a day after the Vancouver-based company said gold and silver would account for about half of revenues at its Oyu Tolgoi project, which is set to begin production at the end of next year.
Ivanhoe also received a rating and target price increase from TD Securities on Tuesday following the recent release of its second-quarter update which said the promising project in Mongolia would be built within its $4.5-million pre-production budget.
TD raised its rating from “hold” to “speculative buy” and increased its 12-month target price to $30 from $28.
“An investment in Ivanhoe Mines provides exposure to one of the world’s largest copper-gold deposits that is being built and managed by Rio Tinto PLC,” analyst Craig Miller said in a note. “The possibility for a corporate transaction remains; and the recent weakness in the base metal mining equities provides an attractive buying opportunity, in our view.”
Mining promoter Robert Friedland, chief executive officer of Ivanhoe, said while copper will be the main metal produced at Oyu Tolgoi, “gold and silver are major contributors” to the project.
“The recent sharp increases in gold and silver prices have reinforced the importance of having a multi-commodity deposit such as Oyu Tolgoi,” he said in a release on Monday.
While Ivanhoe’s statement regarding the project’s gold and silver content wasn’t a surprise, analysts say it appears to have caught investor attention alongside gold’s recent record-breaking run. Silver has also been on a tear recently, rising nearly 40 per cent so far this year.
Gold hit a record $1,913.50 (U.S.) an ounce in London on Tuesday and settled down at $1,861.30 on the Comex in New York. Silver, which has more than doubled in price in the last 12 months, fell about 2 per cent, to $42.33 an ounce in New York.
While Ivanhoe’s shares rallied on Tuesday, they’re still off a 52-week high of $30.28 reached in December.
Related: Ivanhoe Mines Lower in TSX, U.S. Despite TD Upgrade, Good News on Mongolian Project – NASDAQ, August 24
XAM closed down 0.5c to 42.5c
Drilling begins at Solenker Epithermal Gold-Silver Prospects
August 23, Xanadu Mines Limited (ASX:XAM) --
· EXPLORATION DRILLING COMMENCES AT THE HIGHLY PROSPECTIVE SOLENKER EPITHERMAL GOLD-SILVER PROSPECTS.
· A COMPREHENSIVE GEOPHYSICS PROGRAM IDENTIFIED NUMEROUS HIGH PRIORITY DRILL TARGETS.
Xanadu Mines Ltd (Xanadu) (ASX:XAM) is pleased to announce that exploration drilling has commenced at the highly prospective Elgen-Zost-Suug epithermal gold and silver exploration Joint Venture, known as the Solenker Epithermal Gold Project (“the Project”). A multi-purpose drill has been contracted and is currently onsite.
The Elgen-Zost-Suug licences are located in the Dornogovi Province of southern Mongolia, approximately 750 kilometres south-southeast of Ulaanbaatar and less than 50 kilometres from the Chinese border (Figure 1).
Under the terms of the agreement, Xanadu, which has a 51% interest, can earn up to 80% of the Elgen-Zost-Suug exploration licences by meeting various spending commitments. Xanadu has retained a 100% interest in any other commodities that may be found on the licences.
The five large exploration licenses which make up the Solenker Gold Project, covering more than 400 square kilometres, lie along the southern border with China and host the three low sulphidation epithermal precious metal targets at Suug, Zost Uul and Elgen Uul. All prospects are interpreted to represent the upper levels of a low sulphidation epithermal system enriched in gold. With moderate reliefs of about 50m at Suug, Zost Uul and Elgen Uul the epithermal alteration systems are reasonably well exposed. Structural interpretations based on detailed mapping of the distribution of auriferous quartz-adularia veins and enclosing breccia zones, indicate inflexions and dilational zones, which will be drill tested in this current exploration drill program.
A comprehensive geophysics program of ground magnetics and dipole-dipole induced polarisation has been recently completed at Suug and Zost and numerous additional drill targets have been generated.
Commenting on the Solenker exploration program, Xanadu’s Chairman Brian Thornton said “it represents one of the standout advanced gold exploration opportunities in southern Mongolia where previous explorers had encountered extensive anomalism in shallow drilling but had been discouraged by the windfall profits tax on gold at the time. Xanadu was fortunate to acquire this highly prospective ground and has subsequently defined 3 potentially high grade low sulphidation epithermal targets. The 2,000 metre diamond drilling program planned will run until the onset of winter with results released progressively over the next 3 months.”
BDI closed down 0.1c to 1.3c
MONGOLIAN EXPLORATION PROGRAMME TO COMMENCE
August 23, Blina Minerals NL (ASX:BDI) --
Highlights
· 1,400m drilling campaign to commence this week within the Bayanburd Copper Gold licence
· Results expected end of October
· Programme aimed to test existence of a primary source of copper and determine extent and concentration of mineralisation
Blina LLC (Blina), the Mongolian subsidiary company of Blina Minerals NL (Blina Minerals) (ASX: BDI), is pleased to announce that drilling operations will commence this week on the Bayanburd Copper Gold licence in Bayankhongor Province of Central Mongolia. Two drill rigs are on site and the crews are currently moving into the field.
The central portion of the licence area received intense geological inspection in 2008, at which time a Central Zone of strong copper/gold mineralisation was noted. Flanking the Central Zone to the east and to the west are two other areas of diffuse mineralisation which are poorly understood at this time and, as such, the work to date focussed on the three zones of mineralisation identified in 2008.
Following a month and a half of intense rock chip sampling, structural mapping work and a review of the results of an earlier geophysical programme, drill sites have been defined and drilling will commence on these areas first. Once results of these holes are known the company will refine its drilling programme.
The drilling programme has allowed for 1,400m of diamond drilling and will look to identify the geological controls around the mineralisation as part of efforts to identify a primary copper source.
The property is located some 500km to the south east of Ulaanbaatar. Locally the site is located 39km south of the Provincial Capital of Bayankhongor, and 15km south of the County seat. Access and infrastructure are excellent, the national power grid passes through the property, and the local population is pro-mining.
Once the results of the drilling programme are known, the Board of Blina will assess the project’s standing and potential ahead of deciding whether it will exercise its right to own 51% of the project for a sum of US$400,000 and whether to spend more money on further exploration in 2012, to acquire an even greater percentage of ownership in the project.
GTSO Rare Earth Core Samples Sent for Analysis
August 23, SAN JOSE, Calif.--(BUSINESS WIRE)--Green Technology Solutions, Inc. (OTCQB:GTSO) announced today that cores drilling and sample collection have been completed by an independent geologist on the 17,000 acres GTSO is seeking to help develop in Mongolia. Core samples will be sent to the KORES laboratory in South Korea for mineral analysis to confirm concentrations of rare earth elements.
The samples were collected by a team led by Senior Ph.D. Geologist T.S. Bilgee of the Mongolian University Geological Sciences Department. Each core sample will be tested by South Korean state-run resource development company KORES to determine the commercial viability of rare earth mining operations on the property.
Rare earths are crucial to South Korea’s electronics, medical and automotive industries as well as emerging green-energy technologies such as wind turbine generators, electric car batteries and photovoltaic solar panels.
GTSO President and CEO John Shearer said this week that the company expects KORES to confirm the presence of rare elements in the ore, laying the foundation for production activities to be commenced in Mongolia.
“Two recent mineral analyses of this site conducted by Thermo Fischer Scientific and SGS for management reported economically viable levels of rare earths in the soil, and we expect KORES’ analysis to confirm the same,” Shearer said. “KORES has an exceptional reputation in South Korea and we’re confident that a positive analysis would confirm the value of this project. We’re receiving inquiries as to the availability of minerals, so we’re very pleased to see real progress toward initiating production.”
In order to capitalize on this export quota reduction, GTSO is working to develop new rare earth mining operations in Mongolia, China’s neighbor to the north. GTSO signed a Profit Participation Agreement (PPA) earlier this year with Mongolian mining and trading company Ar Erkhes, LLC, to facilitate rare earth production at three mining sites in the mineral-rich nation.
Overseas energy deals 'require caution'
'Rethink' in Mongolia provides an example of potential pitfalls
August 24 (China Daily) BEIJING - Experts warned that Chinese energy companies must conduct better risk assessments and strengthen communication with local governments when they explore overseas markets, after Mongolian President Tsakhia Elbegdorj said the country was rethinking development plans for the Tavan Tolgoi coal mine.
Elbegdorj said on Aug 20 that because of the pressure of domestic public opinion, he could not support an earlier plan that gave Chinese company Shenhua Group Corp Ltd the largest share of the coal development project, according to Kyodo News service.
In early July, the Mongolian government announced that Shenhua, China's largest mining company by output, would have a 40 percent stake in developing the Tavan Tolgoi coalfield.
US-based Peabody Energy Corp was awarded 24 percent.
Shenhua declined to comment on that announcement at the time, and it also refused tocomment on Tuesday on Elbegdorj's statement.
An insider at Peabody who asked to remain anonymous said that the Mongolian government faced a tough question of dividing the shares in the world's largest untapped coal mine. The insider said that none of the bidders, including Shenhua and Peabody, were satisfied with the initial results because they all wanted larger stakes.
"Mongolia has to balance the benefits of each party, which is hard. Considering the political issues, they have to ensure the neighboring countries' profits, which has put them under huge pressure," the insider said.
The person also said that Peabody might get a larger stake as the project's shareholding structure was "re-planned".
However, one Chinese expert believes that Shenhua will still be the strongest competitor for the mine's development.
"The Mongolian government may reduce Shenhua's share, which almost is a definite result, but how much the percentage is to be reduced depends on future negotiations," said Sun Hongbo, a researcher at the Chinese Academy of Social Sciences.
However, he said the result won't affect Shenhua's international strategy, which was based on increasing domestic demand for coal.
A securities analyst who covers the coal industry said on condition of anonymity that there wouldn't be any direct influence on Shenhua's market performance because it usually takes five years to develop an overseas coal project.
He said Shenhua's recent share performance in Shanghai and Hong Kong might be a reaction to its interim results, rather than the Mongolian coal deal.
Sun said Mongolia wanted to maximize profits from the coal project, so it had to lessen the dependence on any individual country.
Thus, it is possible that Mongolia may give larger shares to South Korea and Japan.
He said Chinese energy companies needed to evaluate the risks of foreign resources projects before making any investment and prepare for possible losses.
Further, companies must liaise more closely with the communities where they do business, such as by cooperating closely with the local government, providing local employment and responding appropriately to local public opinion, said Sun.
"Otherwise, it is hard for a foreign company to develop well in another country," he added.
The Tavan Tolgoi coal deposit, in Mongolia's south Gobi region, has estimated reserves of 6 billion tons. The western side of the field, which is close to Mongolia's border with China, has about 1.2 billion tons of reserves, of which 68 percent is high-quality coking coal.
The field has an estimated production life of more than 30 years with output of 15 million tons annually.
Posco To Build Coal-Gasification Plant In Mongolia Next Year-Report
August 23, SEOUL -(Dow Jones)- South Korean steel maker POSCO (005490.SE) will build a coal-gasification plant in Mongolia next year in a 50-50 joint venture with a Mongolian company, the Seoul Economic Daily reported Tuesday, without citing sources.
The report comes a day after the Ministry of Knowledge Economy said Posco signed an Memorandum of Understanding with a Mongolian company for cooperation in the commercialization of energy resources.
Despite the MOU being signed, no detailed plans have yet been decided, a Posco spokesman told Dow Jones Newswires.
Newspaper website: http://economy.hankooki.com/
World Bank: Mongolia Quarterly Economic Update - August 2011
August 23 (World Bank) --
EXECUTIVE SUMMARY
The Mongolian economy is experiencing rapid growth in 2011: the second quarter saw the economy growing at a whopping 17.3 percent year on year, compared to 9.9 percent in the first quarter. Transportation and construction grew at 39.9 percent and 38.4 percent, respectively, while retail and wholesale trade grew at 24.7 percent, with Mongolians spending more on consumption as a result of higher incomes. The mining and manufacturing sectors recorded respectable growth rates of 8.3 and 12.9 percent yoy in the second quarter, respectively.
Reflecting the higher growth, unemployment declined from 13 percent in December 2010 to 8.7 percent in June. Informal labor markets for unskilled workers are also booming, with real wages nearly doubling between December 2010 and June 2011. Since poverty was reduced considerably during the previous period of high economic growth rates (2002-8), we think that current trends in the economy bode similarly well for poverty reduction. However, recall that sharply rising inflation towards the end of the previous boom undermined some of the gains made, particularly for the poor. Hence, keeping a lid on inflation by reigning in excessive government spending and avoiding loose monetary policy will be the key to successfully reducing poverty during the current economic boom.
Unfortunately, Mongolia is again experiencing high levels of inflation. UB inflation was up 11.4 percent yoy in July, up from 5.5 percent in the previous month. Core inflation, excluding volatile energy and food prices, increased even faster, by 13.7 percent yoy. And as the livestock herd continues to recover from the dzud and China’s food prices, especially meat, continue to rise (34 percent yoy in July), food prices are likely to remain high.
This inflation is being stoked by increased government spending (up 27 percent, with most of it on wages and transfers), as well as high spending by the private sector—producers and consumers alike—as reflected in the large import bill relative to last year: imports are up by 106 percent.
A booming mining industry, especially the Oyu Tolgoi copper mine, spurred these imports, especially of transport equipment and machinery. This pushed Mongolia’s trade deficit to US$ 1349 million in July 2011. On the export side, coal has surpassed copper as the largest export, comprising 38 percent of all exports, having grown 129 percent yoy in July. China is the sole destination for Mongolia’s coal exports and it is the largest thermal coal consumer in the world. Mongolia’s exports of coal are expected to grow with new coal mines coming on board. Crude oil exports were up 42 percent yoy in June owing to higher oil prices, while copper volumes are declining, as are Chinese metal imports from Mongolia. Gold, greasy cashmere, and combed goat down were other poor performers in the export sector.
Credit in the banking sector is growing very fast. The stock of outstanding loans grew by 46 percent yoy in real terms in July 2011. It is therefore imperative that the BoM enforces prudential norms on all Mongolian banks, and ensures that they maintain adequate buffer capital to absorb potential losses. The stock of the Non-Performing Loans currently stands at MNT 382 billion including those of the two failed banks. Together with loans in arrears, the ratio to total outstanding loans is about 10 percent in July and decreasing. However, because the volume of outstanding loans is rising fast, this should not be a reason for complacency.
The volume of MNT deposits reached a record MNT 2.6 trillion in July, a 73 percent yoy increase. However, since real interest rates on local currency deposits are currently again in negative territory because of rising inflation, the attractiveness of local currency deposits must stem from the public’s expectation of an appreciating currency. Compared to July 2010, the average monthly exchange rate against the US$ appreciated by about 9 percent, or about one percent compared to the previous month. Nominal interest rates on US$ deposits are high by international standards: for certain time deposits they are as high as 14 percent. Such high rates are a cause for concern, as they may reflect liquidity problems rather than an unusually high profitability of project lending.
On a 12 month rolling basis, the fiscal surplus reached 7.4 percent of GDP yoy in July. Annual revenues and grants grew by 46 percent in real terms in July yoy, in addition to increases in royalties, VAT, customs duties and corporate income tax. On the expenditure side, there was a very large increase (27 percent yoy) in expenditures in July, with capital expenditures up by 57 percent and current transfers up 48 percent, owing to cash handouts to citizens through the Human Development Fund (HDF).
Such large increases in public expenditures risk throwing Mongolia back to a pro-cyclical fiscal stance. To counteract this tendency, the Fiscal Stability Law (FSL), passed in 2010, locked in counter-cyclical policies. However, because the core of the FSL - the structural balance of minus 2 percent of GDP - only starts in 2013, risks exist concerning its implementation, especially with elections around the corner in 2012. The FSL was supported by a large majority in parliament and will assist Mongolia in avoiding the typical pitfalls of growth for resource rich countries, especially the Dutch Disease. In the Netherlands, the Dutch Disease was eventually - cured through a similarly broad-based political agreement centered on fiscal and wage restraint. If the Dutch example holds a lesson, it would be for Mongolia’s parliament to hold the course to implementing the letter and the spirit of the law, and to pass a supportive new budget law in the fall session.
Mongolia’s economic outlook depends heavily on global macroeconomic factors: the current uncertainty and poor growth prospects for the global economy are cause for concern. If there is another global recession, Mongolia’s small, open economy will be affected. In that case, China’s policy reaction will be crucial for Mongolia. If China reacts as fast and as strongly as it did in 2008/9 then the effects of a global recession on Mongolia will be mitigated, largely owing to Chinese demand for minerals from Mongolia. Beyond this, it is up to Mongolia to capitalize on its excellent long term prospects by continuing the reform agenda it embarked on during the 2008/9 crisis.
Home prices rise 15 to 30 percent
August 22 (news.mn) Mongolia’s booming housing sector was the subject of a forum held last week in Ulaanbaatar.
The three-day forum was organized by the Ministry of Roads, Transportation and Urban Development. Among those attending the event were Kh. Battulga, the minister of Roads, Transportation and Urban Development, Ts. Erdene-Chuluun, the vice president of the Mongolian National Construction Association, and D. Batsaikhan, a deputy director of Khaan Bank.
More than 30 construction companies exhibited designs for homes and apartment blocks. Four banks were also present to offer home loans.
According to statistics compiled for the forum, more than 20,000 housing units are under construction in Ulaanbaatar, and approximately 10,000 more are being planned.
About 30 percent of the homes under construction are expected to sell for between MNT 1.4 million and MNT 2.0 million, while six percent will sell for less than MNT 1 million.
The construction companies say home prices have increased between 15 and 30 percent, mainly due to the rising cost of construction materials.
Discover Mongolia 2011 Announces Additional Session and Full Subscription Of Sponsors
Mongolia is attracting investors from around the world and Discover Mongolia 2011 International Mining Investors' Forum (IMIF) is a proof. The forum now being organized for the 9th year since 2002 has attracted over 1,200 participants last year and looks poised to surpass the figure this year.
Ulaanbaatar, Mongolia (PRWEB) August 23, 2011 -- "With increasing number of investors interested in Mongolia, we realized that many of our delegates come to learn about Mongolia, politically as well as familiarizing themselves with exploration or early stage projects that has a potential to grow" said Algaa Namgar, the Executive Director of Mongolian National Mining Association and a member of the Organizing Committee. The organizers were able to confirm new and early stage project presentations from Erdene Resource Development, Prophecy Coal, Voyager Resources, WM Mining, and Altan Rio.
The Forum's sponsorship is fully subscribed. South Gobi Resources is the Premium Sponsor, Erdene Resource Development is the Platinum Sponsor. Gold Sponsors are: Hunnu Coal, PWC, Ernst & Young, Prophecy Coal, Oyu Tolgoi /Rio Tinto, Monnis International, and Micro Mine. Regular sponsors are: Transwest Mongolia, Hera Equipment, Voyager Resources, Haranga Resources, Runge, Aspire Mining, Sedgman, and AMC Consultants. The Bank of the Event is Golomt Bank and IT Sponsor of this year is Mobicom. Event Sponsors are Trade and Development Bank of Mongolia, EZnis Airways, ZaMine, Onch Audit, Mongolian Star Melchers, and Blast Company. Media supporters of the event are Asia Miner, Mining Journal, Merger Market.
"Having these outstanding sponsors were helpful in organizing this year's event. From planning stage to detailed logistical work, our sponsors were actively involved and we are always grateful for their efforts," said Enkhjin Purevjav, a member of the executive committee.
In cooperation with Behre Dolbear Mongolia, this year's forum is featured by pre-conference workshop- "ABCs of Mining" which shall take place on 5th and 6th of September, 2011. This two-day program is an overview of the fundamentals of the mining industry with an emphasis on the Business of Mining. In addition to the technical issues facing the development of mining projects, the ABCs of Mining seminar will provide perspectives on the modern components of a mineral project that protect the physical and social environment.
Those who are interested in Discover Mongolia 2011 can visit the website to see the programme of the Forum as well as various social and networking events at: http://www.discovermongoliaforum.com
Allens welcomed as member of Business Council of Mongolia
August 23 (Allens Arthur Robinson) Allens Arthur Robinson (Allens) has been formally welcomed as a member of the Business Council of Mongolia at a ceremony held last night in the Mongolian capital of Ulaanbaatar.
Allens becomes the first Australian top-tier firm to be made a member of the Council. Partners Erin Feros and David Wenger, as well as Senior Associate John Koshy and Lawyer Emma Wanchap, attended a meeting of the Council that formally accepted Allens as a member.
The Business Council of Mongolia brings together Mongolian and foreign-based businesses to act as an independent Mongolian business advocacy group.
Ms Feros said formal membership in the Business Council of Mongolia was a natural progression for the firm, which has been involved in numerous significant transactions in Mongolia over the past few years.
'We see the firm's membership of the Mongolian Business Council as an essential component of our Mongolia group's activities,' Ms Feros said.
'We welcome this opportunity to meet with colleagues and build relationships here on the ground in Ulaanbaatar.'
Mr Wenger, who is based in Hong Kong, said he was seeing more Hong-Kong-based companies investing in Mongolia.
'There is no doubt that Mongolia is an exciting new frontier for companies to invest in,' Mr Wenger said.
'The firm has already been involved in some significant projects in Mongolia, such as the Oyu Tolgoi copper and gold project.'
Business Council of Mongolia Executive Director Jim Dwyer said: 'The Business Council of Mongolia welcomes a firm of Allens' standing and reputation, particularly in the energy and resources sector, to our membership. We look forward to Allens participating in the business growth of Mongolia.'
Official: U.S. in Early Talks About Int'l Nuclear Leasing Arrangements (with Mongolia)
August 23 (Greenwire via NYT) Department of Energy officials have spent weeks trying to knock down reports that they have been interested in building a nuclear waste repository in Mongolia.
Now, the Obama administration is going a step further, disclosing that what DOE hopes to do is "lease" uranium from other countries, then return the spent fuel to the originating country.
A senior Obama administration official told Greenwire earlier this month that the government is in preliminary talks with several countries, including Mongolia, Japan and the United Arab Emirates, about setting up commercial nuclear fuel leasing arrangements.
In one example of how a fuel leasing arrangement could work, countries with uranium reserves could mine, enrich and fabricate the material and lease it to reactor companies abroad. Spent nuclear fuel would then be sent back to the originating country, the official said.
Discussions have not touched upon what those countries would do with the waste, the official said, but the United States hopes to prevent proliferation by providing alternatives to domestic enrichment and reprocessing capabilities.
Other countries and international entities have also been working to create "fuel banks" -- reserves of nuclear fuel for countries facing fuel supply disruptions -- the official said. So far, the International Atomic Energy Agency (IAEA) and Russia have taken firm steps to set up international fuel banks, and Kazakhstan has volunteered to host the IAEA fuel bank, said Mark Hibbs, a nuclear energy analyst with the Carnegie Endowment for International Peace. Last week, the United States announced plans to set up a fuel bank using excess uranium from the country's nuclear weapons program (E&ENews PM, Aug. 18).
Related: Equine Diplomacy – The New Yorker, August 24
Rio Tinto Sponsors Mongolian Olympic Team
Related: Mongolia’s Olympic Team, Brought to You by Rio Tinto – WSJ Blog, August 23
Germany charges Mongolian spy with kidnapping
Khurts was detained at London's Heathrow Airport last September on a European arrest warrant.
The charges were filed at a Berlin court on Aug. 4. There was no word on when a trial might begin.
-5.1%
---
"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.
No comments:
Post a Comment