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Close: Mongolia Related ASX Listed Companies, August 9, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.064 | 0.010 | 0.064 | 0.065 | 0.052 | 0.064 | 0.049 | 36,378,168 | |
1.140 | -0.030 | 1.125 | 1.170 | 1.110 | 1.145 | 1.005 | 843,430 | |
0.190 | -0.010 | 0.190 | 0.210 | 0.200 | 0.200 | 0.160 | 345,506 | |
0.430 | 0.060 | 0.430 | 0.435 | 0.340 | 0.430 | 0.330 | 2,822,624 | |
0.010 | 0.001 | 0.010 | 0.011 | 0.009 | 0.010 | 0.009 | 2,436,444 | |
0.082 | 0.002 | 0.082 | 0.083 | 0.070 | 0.085 | 0.067 | 28,283,757 | |
0.120 | -0.005 | 0.120 | 0.135 | 0.115 | 0.120 | 0.100 | 521,632 | |
0.920 | -0.040 | 0.900 | 0.940 | 0.890 | 0.945 | 0.820 | 2,616,040 | |
0.350 | 0.000 | 0.200 | 0.345 | 0.000 | 0.000 | 0.000 | 0 | |
0.036 | -0.001 | 0.036 | 0.037 | 0.031 | 0.037 | 0.030 | 17,660,768 | |
0.430 | 0.000 | 0.400 | 0.430 | 0.355 | 0.430 | 0.355 | 398,006 | |
18.680 | 0.460 | 18.660 | 18.680 | 17.320 | 18.700 | 16.950 | 2,193,445 | |
69.740 | 1.110 | 69.730 | 69.740 | 65.200 | 70.150 | 63.850 | 8,796,556 | |
37.050 | 0.450 | 37.050 | 37.060 | 35.430 | 37.380 | 34.810 | 31,666,056 | |
Source: asx.com.au
VOR up 30.6% in last 2 days
Voyager: MAJOR NEW COPPER DISCOVERY
August 8, Voyager Resources Limited (ASX:VOR) --
Highlights include:
The Company is extremely pleased to announce that initial assay results have been received from the first three Reverse Circulation (RC) drill holes completed on the Cughur Discovery at the KM Copper Porphyry Project in the South Gobi Region of southern Mongolia. These drill holes confirm a major new high grade copper discovery.
Ø Drilling at the Cughur Discovery has returned exceptional results, with all three (80m deep) RC 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 recently been extended by diamond core drilling with copper mineralisation of varying intensity being geologically 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 Cughar Discovery has extended the alteration zone to an area covering 4.6km x 1.6km.
Ø Three drilling rigs are now operating on the KM Copper Porphyry Project, with numerous other targets being drill tested. To date 40
Ø RC holes and three diamond tail extensions have now been completed over four separate prospects for over 4,000 metres of drilling. Many drill holes are intersecting porphyry style copper mineralisation over broad intervals. Drilling is continuing to focus on the Cughur Prospect area where drilling has intersected broad expanses of mineralised quartz tourmaline breccias (>100 metres).
Ø Voyager is fully funded with $9.67 million in cash reported at the end of the June quarter.
…
Guildford Coal eyes Mongolian coal production within a year, acquires additional land
August 9 (Proactive Investors Australia) Guildford Coal (ASX: GUF) has highlighted that it's not just Australian coal companies coming onto the acquisition radar - and has completed a US$3.5 million acquisition in the South Gobi coal bearing basin in Mongolia.
The new acquisition exploration permit adjoins the existing South Gobi Project tenements which expands the scale potential of the coking and thermal coal project.
Guildford is already eyeing the possibility of becoming a coal producer within a year in the South Gobi, due to the strategic location close to the Chinese border station of Ceke - where coal from Mongolia is already trucked into China.
Mick Avery, managing director, commented on the company's operations, and said "Exploration is confirming the targets and that Guildford is progressing to the establishment of JORC-compliant resources on three of our priority projects at Hughenden in Queensland and South Gobi and Middle Gobi in Mongolia”.
Independent geologists have developed an exploration target of 0 to 122 million tonnes for the new tenement, taking the target for the South Gobi Project to 0 to 582 million tonnes.
Guildford said an exploration target has also been developed of 29 to 149 million tonnes for the Middle Gobi Project - which takes the total target for Guildford’s portfolio of Mongolian Projects to 29 to 731 million tonnes.
TVN: Nuurst Project Second Drill Hole Assays
August 8, TVN Corporation Limited (ASX:TVN) --
· Second hole assays received – 6,688Kcal/kg DAF
· New trenching identifies further subcropping coal seam development
· Continous coal seam development over 800m
…
LKY closed up 3c to 58c
Lucky Strike Commences 1,500 m Due Diligence Drilling
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2011) - Lucky Strike Resources Ltd. ("Lucky Strike" or the "Company") (TSX VENTURE:LKY) has awarded Elgen LLC drilling company to perform a 1,500 m due diligence drilling program on the CN Coal Properties with the camp setup and mobilization of equipment to commence on August 10. This announcement is further to the Company's news release dated July 11, 2011, in which Lucky Strike announced that it had signed definitive agreements to acquire an 80 percent interest in the CN Coal Properties subject to the completion of legal and technical due diligence and acceptance by the TSX Venture Exchange.
Lucky Strike expects the results of the due diligence drilling to be announced within 80 days. To be cost effective, Lucky Strike intends to drill Polycrystalline Diamond (PCD) borings down to the first coal seam and then HQ core drill to complete the hole if desired. Information collected for the due diligence program will include coal quality sampling, wire-line geophysical logging, lithology logging, geotechnical information from core, and data for water quality and hydrology studies.
For the 1,500 m due diligence drilling, seven holes are planned within an area encompassing a block 8.2 km east-west by 10.2 km north-south on CN Coal Properties with the intention to explore and expand the coal resource potential beyond the current drill hole pattern. Evidence from previous drilling programs revealed a north-eastward, 5° to 8° dip for the coal-bearing strata. Coal seams crop out on the west side of the property and will be further examined with a series of trenches. The step-out drill holes will assess the coal bed character and continuity down dip and laterally along the trend of the coal beds as defined by the 2009 drilling program. The coal-bearing strata consist of coal, shale, mudstone and sandstone, which are part of the Lower Cretaceous sedimentary fill of a shallow structural basin. There is some evidence that the north-east dip of the strata comprises the west flank of a gentle syncline and that the coal beds may incline closer to the surface farther to the east. Further field mapping will be initiated east of the 2009 drill holes that should help clarify structural conditions. The mapping results will help explain coal continuity over the license area as well as upgrade planning for further drilling.
Elgen LLC operates 25 drill rigs in Mongolia with a staff of over 300 employees and consultants. Sixteen of their drill rigs are dedicated to year round drilling in the South Gobi.
MMC: Date of Board Meeting
August 8, Mongolian Mining Corporation (HK:975) --
The board of directors (the “Board”) of Mongolian Mining Corporation (the “Company”) hereby announces that a meeting of the Board of the Company will be held on Wednesday, 24 August 2011 for the purpose of, among other matters, considering and approving the interim results of the Company and its subsidiaries for the six months ended 30 June 2011 and the payment of an interim dividend, if any.
Demand grows for special session of Parliament on Tavantolgoi
August 9 (news.mn) The demand is growing that a special session of Parliament should be held to discuss the draft investment agreement on Tavantolgoi without delay and both the DP and MPP groups in Parliament are considering asking MPs in their countryside electoral districts to return to Ulaanbaatar. However, such a discussion can be held only after the National Security Council ratifies the draft prepared by the Government.
Five MPs -- L. Gantumur, Su.Batbold, G.Bayarsaikhan, D.Gankhuyag and R.Amarjargal -- have told Uls Turiin Toim newspaper that an early discussion and decision is needed as the issue is too important to wait until the Autumn session. They also think only an exclusive session can do justice to the various issues involved. Amarjargal feels MPs should be given adequate time to prepare themselves for a proper discussion.
Golomt Bank finances export of Erdenes Tavantolgoi coal
August 8 (news.mn) Erdenes Tavantolgoi LLC last week exported its first shipment of coal from Zuun Tsankhi of Tavantolgoi deposit mine to Chalco in China. Golomt Bank has provided MNT30 billion to cover export expenses to Erdenes MGL, the parent company of Erdenes Tavantolgoi.
Link to Golomt release (Mongolian)
FEATURE-Mongolia frets as giant coal mine launch looms
* Uncertainty clouds development of massive coal mine
* Government silent after investment agreement "fiasco"
* Public opinion also crucial as 2012 elections loom
ULAN BATOR, Aug 8 (Reuters) - Mining coal from landlocked Mongolia's largest and least populated province located in the Gobi Desert, and then shipping it abroad, was never going to be easy.
Banks and mining firms have been drooling over the 7.5 billion tonne Tavan Tolgoi project, believed to be the world's largest coking coal deposit and named after the "five hills" that rise from the empty plains of the south Gobi around 300 km (190 miles) from the Chinese border.
But last month's botched bidding process to develop the western block of the property has left potential investors scratching their heads and put a much-heralded initial public offering of as much as $15 billion for the mine's eastern block next year in doubt.
At stake is the promise of prosperity for Mongolia's 2.8 million citizens, many of whom live on the edge of subsistence.
The mine's transformational potential also has implications as a whole for the region, which produces more than half of the world's steel and aims to wean dependence on primary coking coal supplier Australia.
But Mongolians are worried that their two powerful neighbours, China and Russia, will take their resources on the cheap unless key donors Japan and South Korea join the bidding -- a point crucial for parliamentary approval later this year.
"It's a big question mark on whether they can come up with a deal that can please everybody and have it approved in parliament when the autumn session opens in September," said Akmal Aminov, an analyst at Eurasia Capital.
Mining giants and trading houses from across the globe were involved in what had been promised to be a fair and transparent bidding war. But they are now unsure whether a hotly disputed decision to award the mine to China's Shenhua , U.S.-based Peabody and a mysterious Russian-Mongolian consortium is final.
NOT THE FIRST HICCUP
At least 150 representatives from 20 global investment banks landed in the Mongolian capital, a city marked by massive concrete block buildings built during its days as a Soviet client state, in mid-January to pitch for a deal that could raise as much as $15 billion for the Tavan Tolgoi coal mine.
Taking a night off from the task of drawing up bids, some of the bankers braved sub-zero temperatures and bracing winds to gather in Ulan Bator's exotically named Grand Khaan Irish Pub. Tensions over the bid were enough to start a brawl.
The matter seemed to be settled in February, after a similarly confusing sequence of events in which the government announced a list of winners and then backtracked, leaving the door open for others to join at a later stage.
It eventually settled on BNP Paribas , Deutsche Bank (DBKGn.DE: Quote) Goldman Sachs and Macquarie to lead the IPO, but recent events may have turned the lucrative listing into a poisoned chalice.
The proposed share issue, possibly in Hong Kong, will cover the eastern block, but its fate is intimately linked with the western section, the subject of July's abortive investment agreement.
"You need clarity on both before you can have anything marketable to the public capital markets," said an Ulan Bator-based source involved in the process.
The investment agreement was expected to reach parliament for approval on July 7. But after South Korea complained the process was "unclear and unfair", Erdenes -- the state-owned firm in charge of Tavan Tolgoi -- said a final decision had not yet been reached.
Shenhua submitted its bid jointly with Japanese trading firm Mitsui & Co , while the Russian-led consortium originally included Itochu Corp , Sumitomo Corp , Marubeni Corp and Sojitz Corp .
However, none of them were listed in the investment agreement, but Itochu and Mitsui, along with the Korean Resources Group, will be allowed to buy 30 percent of the coal purchased by China's Chalco in a deal signed last week.
Terms to be reworked include management duties, equity splits, mining royalties, participation from Japan and South Korea and production capacity, said a government source, adding "just about everything is back on the drawing board."
"A TYPICAL MONGOLIAN STRATEGY"
South Korea and Japan have been major donors to Mongolia since it became a democracy in 1991, funneling money to the country in the hopes of securing trade deals.
But Mongolia's unique geopolitical problems dominate everything from the divvying up of its resources to the direction of its railways, and while it is eager to please its allies, the success of Tavan Tolgoi will ultimately depend on Russia and China.
"Mongolia is landlocked and we are 98 percent dependent on Russia for fuel and 90 percent dependent on China for trade -- there is no choice," said Baasanjav Enkhbaatar, chairman of the Mongolian Mining Club, a private sector industry group.
Mongolia, facing elections next June, not only has to balance the interests of Russia and China and its donors in Japan and South Korea, but must also appease public opinion.
"It is obvious what they did. You have China, you have Russia, and they included the United States. It is a typical Mongolian strategy," said Oscar Mendoza, chief operating officer with the Ulan Bator-based Frontier Securities.
"Did they use the Japanese and the Koreans to convince the people that this was not going to be handed to Russia and to China, and then in the end, take out the Japanese and the Koreans anyway?"
Estimates show that mining-related foreign investment in coal to copper and gold could exceed $10 billion in the next five years alone, far higher than the country's total GDP of around $6 billion in 2010.
But Mongolia has been under pressure to spread the wealth and fulfil the promises it made at the last elections in 2008.
The democratic government hopes to put $250 million from the Tavan Tolgoi project into its human development fund this year, and it has also pledged to distribute 10 percent of Tavan Tolgoi's shares to citizens, with some saying it might raise that figure to 20 percent before polls open next year.
"The talk about shares to every Mongolian citizen is just to show that politicians are implementing their election promises," said Dambadarjaa Jargalsaikhan, an economist well-known in Ulan Bator for taking the government to task.
"Politicians are only promoting the IPO because they promised to do so during the last election, but there is a lack of voice from critical experts or financial analysts on whether this IPO is the right way," he said.
Until the uncertainties over the investment agreement are ironed out, the listing will remain under a cloud.
"It has been a fiasco and it is giving all the investment bankers a headache," said Mendoza of Frontier Securities. "Whoever did not win the initial bid for the Tavan Tolgoi IPO is very lucky."
Mongolia’s Tavantolgoi coal, with WORLD MARKET as its DESTINATION, is ON ITS WAY
August 7 (UB Post) Yesterday, S.Enkhtuvshin took part in making history. He was the chief driver of the 40 other drivers who drove vehicles with Soyombo (Mongolian national symbol) on them, filled with the first batch of coal mined from Tavantolgoi. Their destination is Gashuun Sukhait border point then the Republic of China. The 4000 tons of coal that they transported will be the beginning of Tavantolgoi’s coal export; the world’s largest coal mine. This is a landmark in every Mongolian’s life as we all are shareholders. The price of the 536 shares that every citizen owns will depend on this coal transported by these drivers.
At the opening ceremony held in “Erdenes Tavantolgoi”, public company of Mongolia’s headquarters, Mineral, Recourses and Energy minister D.Zorigt and many important figures of the mining industry were present. It is planned to export 1.3 million tons of coal from the left side of Tavantolgoi, Tsankhi, this year alone. When the workers introduced the mine to journalists, we came across 60 thousand tons of coal that was stock and an additional 250 thousand tons which was prepared and ready to be transported. Apparently, its planned to increase the output to 15 million per year by 2015, by this time Mongolia will already have made its losses and will be receiving a profit. We can be proud of the fact that Mongolians have mined this coal by themselves. This year, our neighbours, China will buy the 1.3 million tons we export at a price of 70 dollars per ton. CEO of public mining company L.Enebish said “though this is a comparably low price, from next year we will supply according to world pricing standards” this year the net profit will be only, 11-13 dollars. When we start exporting coal mined from the lower layers the price will be higher.
Also, if the coal processing company, where construction work will begin this year starts to operate, the net profit will double. It is said that if each year we mine 15 million tons of coal, we will be able to go on for 112 years. Minister D.Zorigt expressed his strong views that the coals should be processed, so we can profit from the added value. Also, its planned to start trading the shares of Tavantolgoi on the international stock markets by March of next year. This event is centre of attention for many countries, as 7.5 billion tons of coal is stored at this mine. We will publish interviews with officials and more detailed reports about this event in our next issue.
Mongolia Energy Riches Attract Neighbors and Outside Interests
August 9 (OilPrice.com) Pity poor Mongolia, bereft of fiscal resources, caught between the ambitions of its superpower neighbors, Russia and China.
Ulaan Bator’s situation is akin to interwar Poland, dexterously attempting to reconcile its foreign policy between the USSR’s hammer and Nazi Germany’s hard place. Who will ultimately benefit is anyone’s guess, but the country’s nascent energy and mineralogical riches have opened the land of Genghis Khan to a fierce bidding war those ultimate outcome is unclear at best.
The nation is essentially empty, its 2.8 million citizens producing an average population density of just over 1 person per sq. km.
That said, the country’s mineralogical riches are more than impressive. More importantly for global mining interests, Mongolia was a Soviet satrapy from 1924 until the 1991 implosion of the USSR and those reserves remained offline.
Until now.
Whaddya looking for? Mongolia's mining sector has some of the world's richest deposits of gold and copper, uranium, coal, fluorspar as well as (rare earth elements) RREs such as tantalum, niobium, thorium, yttrium and zircon. According to a 2009 estimation by the U.S. Geological Survey, Mongolia has 31million tons of rare earth reserves, or 16.77 percent of the world’s total, exceeded only by China.
Oh, and coal.
Erdenes, a state firm is overseeing the Tavan Tolgoi ("Five Hills") massive coal deposit located in the east Tsankhi area of Mongolia’s Gobi desert, estimated to hold over 7.5 billion metric tons of coking coal, essential for making steel, and the currently world's biggest untapped deposit.
Where’s it gonna go?
Potential suitors include Russian, Chinese, Japanese and South Korean firms, while representatives from 20 global investment banks jetted into sunny Ulaan Bator to make their pitches.
While Mongolia’s economy was traditionally based on herding and agriculture, neighboring China’s rising demand for minerals has underpinned its current mining boom, and Beijing would undoubtedly happily buy virtually all of Tavan Tolgoi’s output.
But, business, is business, and Mongolia is currently weighing all offers.
In 2006 Mongolia's Mineral Law was amended to increase government royalties and licensing fees, reduce tax incentives, set duration terms for exploration licenses, and provide for up to 50 percent government ownership of strategically important resources when jointly funded by the state and private investors. On 25 August 2009 the Ulsyn Ikh Khural (State Great Hural, or Parliament) finally repealed the 68 percent windfall profit tax, effective from January 1, 2011, setting the stage of massive foreign investment.
Since April 2010 Mongolia’s benchmark MSE Top 20 Index has been the world’s best performer and its currency, the tugrik, the fifth-biggest gainer against the dollar. The International Monetary Fund says that Mongolia’s economic growth may surge to 23 percent in 2013, more than twice the forecast expansion in China.
In June the Mongolian government gave each citizen 538 shares in the upcoming Erdenes-Tavan Tolgoi IPO. If the IPO hits its anticipated $10 billion, each Mongolian shares would be worth about $360.
The local populace will be watching the Tavan Tolgoi negotiations closely, as Mongolia is a country where the CIA estimates that more that 36 percent of the population lives below the poverty line, with an annual per capita income of $2,900. After all, in a democracy, a 2.8 millionth share in a site estimated to be worth more than $48 billion is nothing to sneeze at, and is cheaper than mounting the pony and replaying the campaigns of Genghis Khan to secure booty.
Prosecutors see no need for more investigation into Zoos Bank case
August 9 (news.mn) The Ulaanbaatar Prosecutors’ Office has said there is no scope for additional investigation in the case of D.Batbayar, Sh.Chudanjii and Kh.Purevsuren, the Chief of State Treasury Board of the Ministry of Finance, charged with embezzlement of Zoos Bank funds, leading it to bankruptcy.
The case has been investigated for two years but the Economic Crimes Section in the State Investigation Office transferred the case to the prosecutors in June, 2011 for further investigation
DISCOVER MONGOLIA 2011 International Mining Investors' Forum (IMIF) to Take Place in Ulaanbaatar, Mongolia, Announces Post-Conference Mine Site Visits
ULAANBAATAR, MONGOLIA--(Marketwire - Aug 8, 2011) - Mongolia's largest Mining Investors' Forum will take place in Ulaanbaatar from 8-9th September 2011. The 9th annual forum is now a hallmark event in the mining sector in Mongolia. This event will see domestic as well as multinational mining companies and global resource financiers gather in Mongolia. The conference provides the opportunity for these companies to introduce their projects and share views on Mongolia's emergence as a major resource exploration frontier in the world.
"We have tried to create a balanced and highly informative agenda so that existing and new investors and investment professionals can get the maximum understanding on Mongolia's investment environment around its mining and resource sector," said H.E. Ochirbat Punsalmaa, the chairman of the Organizing Committee. The two day mining conference will feature speakers from UBS Bank, Scotia Capital, PWC, Sprott AM, Firebird Management, Oyu Tolgoi, Tavan Tolgoi, Mongolia Mining Corporation, South Gobi Resources, and Erdene Resource Development.
This year the forum organizers are focusing on attracting early stage exploration projects to the conference. There will be a parallel session on the second day of the conference allowing companies the opportunity to introduce their early stage exploration projects. The traditional investors conference this year will feature eight sessions over a span of two days. In conjunction with the conference the organizers have planned two evenings of social events on the 8th and 9th. Delegates are welcomed to attend other events such as: mine site visits to Oyu Tolgoi Copper-Gold mine and Ovoot Tolgoi Coal mine of South Gobi Resources.
As previously reported, Discover Mongolia 2011 IMIF is proud to announce its sponsors, South Gobi Resources, Erdene Resource Development, Hunnu Resources, PWC, Oyu Tolgoi LLC, Rio Tinto, Monnis LLC, Micro Mine, Prophecy Coal, Runge, Aspire Mining, Transwest, Voyager Resources, Haranga Resources, Her Equipments, Golomt Bank, Mobicom.
Online registration has started at www.discovermongoliaforum.com
About the organizers
The conference is organized by a domestic event organizing company, Prime Info LLC, in close cooperation with the National Mining Association of Mongolia, the largest professional NGO of Mongolia.
Japan's continued promotion of overseas nuclear power expansion calls for reflection
August 8 (Mainichi) The headline "Promotion of nuclear energy a worldwide trend," which I recently saw, reminds me of Socrates' question of whether numbers suggest righteousness. The philosopher answers the question himself, saying that he does not obey any inner voices except for the best doctrine that he has reached through deep contemplation.
Harsh criticism of the prime minister is no longer rare these days, but a remark by Hitachi Ltd. Chairman Takashi Kawamura during a summer seminar of the Japan Business Federation (Keidanren) lobby in Karuizawa, a resort not far from Tokyo, takes the cake.
"We'd like to go forward with our plans for overseas nuclear power expansion regardless of what the prime minister says," Kawamura said on July 22, furious over Prime Minister Naoto Kan's declaration to reduce and eliminate Japan's dependence on nuclear power.
It was no doubt an expression of Kawamura's dedication to business and an outburst of someone who assumes grave responsibility toward a major economic power. However, it completely misses a fundamental problem that has been exposed by the nuclear disaster in Fukushima -- that is, that nuclear power plants are not safe.
There wouldn't be a problem if nuclear power plants were safe. So I pose this question to those who argue that we make "safe nuclear power plants." How, exactly, is that done?
…
An update on talks of a Mongolian nuclear fuel repository appeared in the Mainichi Shimbun on July 31 (in the Mainichi Daily News on Aug. 1). The U.S.- and Japan-led initiative to build an international storage facility for spent nuclear fuel in the Gobi Desert was first exposed by the Mainichi in May, and fierce local opposition since then had led us to believe that the plan had been dropped. It turns out it hadn't.
On June 16, Mongolian President Tsakhiagiin Elbegdorj -- who was visiting the U.S. at the time -- and U.S. President Barack Obama agreed to go forth with the plan. Prior to the agreement, Goshi Hosono, then assistant to the prime minister who was also in the U.S. at the time, was informed by a deputy secretary for the U.S. Department of Energy of the U.S. intentions to push forward.
Spent nuclear fuel is highly radioactive waste that takes as long as 100,000 years before it is rendered harmless. It must be stored deep underground until then, but "not-in-my-backyard" protests from residents have prevented industrialized nations from building such facilities. Authorities have given up on plans to construct such facilities in Japan and Nevada's Yucca Mountain.
This brings us to Mongolia. In return for housing a spent fuel repository, Mongolia gets a nuclear power plant. The way the arrangements have been made looks a lot like Japan in the 1970s, when government and industry rode into rural areas with wads of cash, building nuclear power plants one after another.
If the Japanese public has been forced to realize its follies by the nuclear crisis triggered by the March 11 Great East Japan Earthquake and tsunami, how can we justifiably push our nuclear waste on another country? Are we excused by the fact that the U.S. government is doing it as well and the Mongolian government seems happy with the trade-offs? The situation calls for some serious soul-searching.
INT'L MEETING OF MONGOLISTS BEGINS
August 9, Ulaanbaatar, Mongolia, /MONTSAME/ The 10th international meeting of Mongolists kicked off Tuesday in the Government House.
It has been dedicated to several important dates such as the 2220th Anniversary of the Founding of Mongolia's Statehood-- Hun Empire, the 805th anniversary of the Great Mongol Empire, the 100th anniversary of the National Revolution of Freedom, the 90th anniversary of the People's Revolution and the 50th anniversary of Mongolia's joining the UN.
Held under auspices of the President of Mongolia, this year's meeting has brought together some 200 Mongolists from Austria, the Great Britain, the USA, Germany, the Netherlands, Denmark, Spain, Italy, Kazakhstan, Canada, Norway, Russia, Poland, the Republic of Korea, Chinese Taipei, Turkey, Hungary, Finland, France, China, the Czech Republic, Sweden, Switzerland, India and Japan. Some 100 Mongolian scholars are taking part in the meeting to deliver reports on research works.
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<Mogi & Friends Fund A/C>
-9.1%
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.
…
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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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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