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 15, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.068 | -0.002 | 0.068 | 0.069 | 0.071 | 0.072 | 0.068 | 15,297,116 | |
1.180 | -0.055 | 1.175 | 1.190 | 1.240 | 1.255 | 1.165 | 427,830 | |
0.210 | -0.020 | 0.210 | 0.230 | 0.220 | 0.220 | 0.210 | 79,000 | |
0.520 | 0.005 | 0.510 | 0.520 | 0.535 | 0.535 | 0.510 | 610,736 | |
0.010 | 0.000 | 0.010 | 0.011 | 0.010 | 0.010 | 0.010 | 5,000 | |
0.087 | 0.002 | 0.085 | 0.087 | 0.089 | 0.090 | 0.085 | 3,959,328 | |
0.130 | 0.000 | 0.130 | 0.135 | 0.130 | 0.130 | 0.130 | 125,000 | |
0.990 | 0.045 | 0.975 | 0.995 | 0.990 | 0.995 | 0.950 | 679,171 | |
0.325 | 0.005 | 0.300 | 0.325 | 0.325 | 0.325 | 0.325 | 9,000 | |
0.047 | 0.000 | 0.052 | 0.048 | 0.000 | 0.000 | 0.000 | 0 | |
0.475 | -0.045 | 0.475 | 0.495 | 0.520 | 0.520 | 0.465 | 134,707 | |
21.490 | 1.640 | 21.460 | 21.490 | 20.550 | 21.520 | 20.470 | 1,805,375 | |
74.520 | 3.000 | 74.520 | 74.530 | 73.150 | 74.790 | 72.710 | 3,071,872 | |
39.850 | 1.640 | 39.850 | 39.860 | 39.070 | 40.010 | 39.020 | 14,063,907 | |
Source: asx.com.au
Xanadu Mines "encouraged" by coal quality at Nuurstei in Mongolia
August 15 (Proactive Investors Australia) Xanadu Mines (ASX: XAM) has received the raw coal sample analyses from its first diamond drill hole at the Nuurstei Coal Joint Venture in northern Mongolia, with laboratory results confirming high quality of coal.
The hole intersected a thick package of coal bearing sediments greater than 290 metres thick, containing a number of coal seams up to 6 metres thickness.
Initial raw coal quality analyses indicate the potential for low to medium volatile coking coal seams with minor intervals of thermal coal.
Brian Thornton, Xanadu’s chairman, said “the initial coal quality results from the first hole at Nuurstei are very encouraging, with subsequent drilling confirming the discovery of a potentially significant new coking coal province in Northern Mongolia within reasonable distance of the Erdenet rail network.”
Xanadu and Noble’s joint venture company, Ekhgoviin Chuluu LLC, has completed 4 diamond holes for a total of 1,393 metres, with all holes intersecting significant coal intervals across multiple seams.
Washability, coking and plastometric tests have commenced on the coal samples and results will be available shortly.
Nuurstei is the first project of the recently formed Xanadu - Noble Strategic Alliance in Mongolia targeting coking coal and iron ore opportunities.
The project covers an area of more than 3,000 hectares and is located in a newly identified coking coal basin between Murun and Erdenet in northern Mongolia.
The alliance has committed to spend US$1.5 million on exploration as part of its commitment to earn 60% of the project and could move to 80% following completion of a JORC Resource.
TVN: Trading Halt
August 15, TVN Corporation Limited (ASX:TVN) --
The Company requests a trading halt of its securities until open of trading Wednesday 17 August 2011.
The reason for the request is a proposed announcement in relation to drilling results and a potential capital raising.
An announcement will be made to the market prior to the open of trading on Wednesday 17 August 2011.
…
Link to TVN Investor Presentation, August 12, 2011`
Ivanhoe Mines Announces Financial Results and Review of Operations for the Second Quarter of 2011
Pre-Stripping of Oyu Tolgoi Open-Pit Copper-Gold-Silver Mine Begins
SINGAPORE, SINGAPORE--(Marketwire - Aug. 12, 2011) - Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) today announced its results for the quarter ended June 30, 2011. All figures are in US dollars, unless otherwise stated.
HIGHLIGHTS DURING THE QUARTER AND SUBSEQUENT WEEKS
· Overall construction at Oyu Tolgoi continues to advance on schedule and on budget, and reached a 30.8% level of completion at the end of Q2. Key elements of the project, including the concentrator complex, primary crusher and tailings-thickening ponds, remain ahead of schedule. Commercial production is expected to commence in the first half of 2013.
· Pre-stripping for the phase-one, open-pit mine on the gold-rich Southern Oyu deposits at Oyu Tolgoi began in August 2011. A ground-breaking ceremony for the open pit was held to officially mark the commencement of pre-stripping operations.
· The development of the first lift of the phase-two, underground block-cave mine at the Hugo North Deposit continued successfully during Q2'11. Lateral mine development 1,300 metres below surface at Hugo North is on schedule, achieving an advance during Q2'11 of 1,190 metres, for a total of 7,939 metres completed since tunneling started in 2008.
· Official approvals were received in early May 2011 that enabled the Oyu Tolgoi Project to begin construction of a 95-kilometre, high-voltage power transmission line to deliver electricity expected to be imported from China to supply the initial mining operation. The erection of towers for the 220-kilovolt transmission line in Mongolia is expected to be completed later this year and the line stringing is planned for spring 2012 to coincide with anticipated stringing on the Chinese side of the border.
· Contract negotiations for the supply and sale of copper-gold-silver concentrate to be produced at Oyu Tolgoi are expected to be finalized in Q4'11. Most of the concentrate initially is expected to be delivered to smelters in China.
· Oyu Tolgoi's site-based construction workforce totalled approximately 14,200 at the end of July 2011, with approximately 11,200 working on site each day and the balance on leave. Approximately 7,320 Mongolians were employed at the Oyu Tolgoi site, with an additional 3,500 Mongolians participating in offsite training.
· On July 12, Ivanhoe Mines and BHP Billiton Ltd. began a new exploration drilling program on their copper-molybdenum-gold discovery at the Ulaan Khud North joint-venture licence, approximately 10 kilometres north of Oyu Tolgoi. The first drill hole, UKD056, is planned to test its target to a depth of 1,100 metres.
· During Q2'11, Ivanhoe Mines' 57%-owned subsidiary, SouthGobi Resources (TSX:SGQ)(SEHK:1878), reported coal sales of $47.3 million from its Ovoot Tolgoi mine in southern Mongolia, representing approximately 1.05 million tonnes of coal sold to customers in China at an average realized price of approximately $54 per tonne.
· Ivanhoe Mines' 62%-owned subsidiary, Ivanhoe Australia (TSX:IVA)(ASX:IVA), continued to focus on the development of its Merlin high-grade molybdenum and rhenium project in the Cloncurry region of Queensland. Construction of the decline to access the Merlin and Little Wizard deposits had progressed to 1,097 metres by the end of Q2'11.
· Altynalmas Gold, 50%-owned by Ivanhoe Mines, is continuing its drilling program designed to further delineate resources and reserves to NI 43-101 standards at the Kyzyl Gold Project in Kazakhstan.
…
Erdene Provides Project Updates and Second Quarter Financial Results
HALIFAX, NOVA SCOTIA--(Marketwire - Aug. 15, 2011) - Erdene Resource Development Corp. ("Erdene" or "Company") (TSX:ERD), today provided an update on the Company's principal projects in conjunction with the release of its second quarter financial results to June 30, 2011.
Highlights
· Marston and Xstrata's Donkin NI 43-101 report concludes that Erdene's 25% Donkin Coking Coal Project interest has a $265 million Net Present Value ("NPV") at an 8% discount rate
· Xstrata filed a draft Donkin Coking Coal Project description document with Federal and Provincial regulators as the initial step in the Environmental Assessment ("EA") process
· Zuun Mod NI 43-101 compliant molybdenum and copper resource estimate issued and 30-year Mining Licence granted
· Initial drilling program extends mineralized zone at Khuvyn Khar copper-silver discovery and new geophysical targets identified
· Drilling confirms a new base and precious metal discovery on Nomin property; expanded exploration program underway
· Construction phase for royalty-generating construction aggregate quarry in Georgia, USA, nearing completion
· Ends quarter with $5.0 million in working capital
…
Khan Files Third Quarter 2011 Financial Results
TORONTO, ONTARIO--(Marketwire - Aug. 12, 2011) - Khan Resources Inc. (TSX:KRI) ("Khan" or "the Company") announced today that it has filed its financial statements and management's discussion and analysis for the three and nine month periods ended June 30, 2011 on SEDAR and has posted these documents to its website www.khanresources.com.
Highlights for the third quarter include:
· Net loss for the three month period ended June 30, 2011 was $1,374,000 or $0.02 per share compared to a net loss of $1,587,000 or $0.03 per share for the same period in 2010.
· Net loss for the nine month period ended June 30, 2011 was $2,344,000 or $0.04 per share compared to a net loss of $3,684,000 or $0.07 per share for the same period in 2010.
· Activities related to the International Arbitration action against the Government of Mongolia accelerated during the third quarter with the formal constitution of the presiding Tribunal on May 9, 2011. A first procedural hearing was held on June 21, 2011. The second hearing is scheduled for September 19, 2011 to assess whether the action should be split into a jurisdictional component and a merit component or continue with a single combined jurisdictional/merit component.
· The hearing on Khan's motion in the Ontario Superior Court of Justice to dispense with or order substitute service in respect of its lawsuit against ARMZ was delayed by the court to allow ARMZ to cross-examine Khan's counsel. This took place in July and a new court date of September 7, 2011 has now been set to hear Khan's original motion.
· Following the earthquake/tsunami in Japan, the share prices of most uranium companies has declined. As a result, Khan's investment in Macusani Yellowcake Inc. declined to $3,028,000 compared to the cost base for the investment of $4,339,000. With share prices for uranium companies now recovering and with Macusani's drill program in Peru having recommenced, Khan's investment in Macusani is expected to recover from the current depressed level.
NAR: NOTIFICATION OF BOARD MEETING
August 15, North Asia Resources Holdings Limited (HK:61) --
The board of directors (the “Board”) of North Asia Resources Holdings Limited (the “Company”) announces that a meeting of the Board will be held on Monday, 29 August 2011 at Units 2001-2, 20th Floor, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong for the purpose of, among other matters, considering and approving, inter alia, the announcement of the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended 31 June 2011.
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 15, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.068 | -0.002 | 0.068 | 0.069 | 0.071 | 0.072 | 0.068 | 15,297,116 | |
1.180 | -0.055 | 1.175 | 1.190 | 1.240 | 1.255 | 1.165 | 427,830 | |
0.210 | -0.020 | 0.210 | 0.230 | 0.220 | 0.220 | 0.210 | 79,000 | |
0.520 | 0.005 | 0.510 | 0.520 | 0.535 | 0.535 | 0.510 | 610,736 | |
0.010 | 0.000 | 0.010 | 0.011 | 0.010 | 0.010 | 0.010 | 5,000 | |
0.087 | 0.002 | 0.085 | 0.087 | 0.089 | 0.090 | 0.085 | 3,959,328 | |
0.130 | 0.000 | 0.130 | 0.135 | 0.130 | 0.130 | 0.130 | 125,000 | |
0.990 | 0.045 | 0.975 | 0.995 | 0.990 | 0.995 | 0.950 | 679,171 | |
0.325 | 0.005 | 0.300 | 0.325 | 0.325 | 0.325 | 0.325 | 9,000 | |
0.047 | 0.000 | 0.052 | 0.048 | 0.000 | 0.000 | 0.000 | 0 | |
0.475 | -0.045 | 0.475 | 0.495 | 0.520 | 0.520 | 0.465 | 134,707 | |
21.490 | 1.640 | 21.460 | 21.490 | 20.550 | 21.520 | 20.470 | 1,805,375 | |
74.520 | 3.000 | 74.520 | 74.530 | 73.150 | 74.790 | 72.710 | 3,071,872 | |
39.850 | 1.640 | 39.850 | 39.860 | 39.070 | 40.010 | 39.020 | 14,063,907 | |
Source: asx.com.au
XAM closed down 4.5c to 47.5c
Xanadu Mines "encouraged" by coal quality at Nuurstei in Mongolia
August 15 (Proactive Investors Australia) Xanadu Mines (ASX: XAM) has received the raw coal sample analyses from its first diamond drill hole at the Nuurstei Coal Joint Venture in northern Mongolia, with laboratory results confirming high quality of coal.
The hole intersected a thick package of coal bearing sediments greater than 290 metres thick, containing a number of coal seams up to 6 metres thickness.
Initial raw coal quality analyses indicate the potential for low to medium volatile coking coal seams with minor intervals of thermal coal.
Brian Thornton, Xanadu’s chairman, said “the initial coal quality results from the first hole at Nuurstei are very encouraging, with subsequent drilling confirming the discovery of a potentially significant new coking coal province in Northern Mongolia within reasonable distance of the Erdenet rail network.”
Xanadu and Noble’s joint venture company, Ekhgoviin Chuluu LLC, has completed 4 diamond holes for a total of 1,393 metres, with all holes intersecting significant coal intervals across multiple seams.
Washability, coking and plastometric tests have commenced on the coal samples and results will be available shortly.
Nuurstei is the first project of the recently formed Xanadu - Noble Strategic Alliance in Mongolia targeting coking coal and iron ore opportunities.
The project covers an area of more than 3,000 hectares and is located in a newly identified coking coal basin between Murun and Erdenet in northern Mongolia.
The alliance has committed to spend US$1.5 million on exploration as part of its commitment to earn 60% of the project and could move to 80% following completion of a JORC Resource.
TVN: Trading Halt
August 15, TVN Corporation Limited (ASX:TVN) --
The Company requests a trading halt of its securities until open of trading Wednesday 17 August 2011.
The reason for the request is a proposed announcement in relation to drilling results and a potential capital raising.
An announcement will be made to the market prior to the open of trading on Wednesday 17 August 2011.
…
Ivanhoe Mines Announces Financial Results and Review of Operations for the Second Quarter of 2011
Pre-Stripping of Oyu Tolgoi Open-Pit Copper-Gold-Silver Mine Begins
SINGAPORE, SINGAPORE--(Marketwire - Aug. 12, 2011) - Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) today announced its results for the quarter ended June 30, 2011. All figures are in US dollars, unless otherwise stated.
HIGHLIGHTS DURING THE QUARTER AND SUBSEQUENT WEEKS
· Overall construction at Oyu Tolgoi continues to advance on schedule and on budget, and reached a 30.8% level of completion at the end of Q2. Key elements of the project, including the concentrator complex, primary crusher and tailings-thickening ponds, remain ahead of schedule. Commercial production is expected to commence in the first half of 2013.
· Pre-stripping for the phase-one, open-pit mine on the gold-rich Southern Oyu deposits at Oyu Tolgoi began in August 2011. A ground-breaking ceremony for the open pit was held to officially mark the commencement of pre-stripping operations.
· The development of the first lift of the phase-two, underground block-cave mine at the Hugo North Deposit continued successfully during Q2'11. Lateral mine development 1,300 metres below surface at Hugo North is on schedule, achieving an advance during Q2'11 of 1,190 metres, for a total of 7,939 metres completed since tunneling started in 2008.
· Official approvals were received in early May 2011 that enabled the Oyu Tolgoi Project to begin construction of a 95-kilometre, high-voltage power transmission line to deliver electricity expected to be imported from China to supply the initial mining operation. The erection of towers for the 220-kilovolt transmission line in Mongolia is expected to be completed later this year and the line stringing is planned for spring 2012 to coincide with anticipated stringing on the Chinese side of the border.
· Contract negotiations for the supply and sale of copper-gold-silver concentrate to be produced at Oyu Tolgoi are expected to be finalized in Q4'11. Most of the concentrate initially is expected to be delivered to smelters in China.
· Oyu Tolgoi's site-based construction workforce totalled approximately 14,200 at the end of July 2011, with approximately 11,200 working on site each day and the balance on leave. Approximately 7,320 Mongolians were employed at the Oyu Tolgoi site, with an additional 3,500 Mongolians participating in offsite training.
· On July 12, Ivanhoe Mines and BHP Billiton Ltd. began a new exploration drilling program on their copper-molybdenum-gold discovery at the Ulaan Khud North joint-venture licence, approximately 10 kilometres north of Oyu Tolgoi. The first drill hole, UKD056, is planned to test its target to a depth of 1,100 metres.
· During Q2'11, Ivanhoe Mines' 57%-owned subsidiary, SouthGobi Resources (TSX:SGQ)(SEHK:1878), reported coal sales of $47.3 million from its Ovoot Tolgoi mine in southern Mongolia, representing approximately 1.05 million tonnes of coal sold to customers in China at an average realized price of approximately $54 per tonne.
· Ivanhoe Mines' 62%-owned subsidiary, Ivanhoe Australia (TSX:IVA)(ASX:IVA), continued to focus on the development of its Merlin high-grade molybdenum and rhenium project in the Cloncurry region of Queensland. Construction of the decline to access the Merlin and Little Wizard deposits had progressed to 1,097 metres by the end of Q2'11.
· Altynalmas Gold, 50%-owned by Ivanhoe Mines, is continuing its drilling program designed to further delineate resources and reserves to NI 43-101 standards at the Kyzyl Gold Project in Kazakhstan.
…
Khan Files Third Quarter 2011 Financial Results
TORONTO, ONTARIO--(Marketwire - Aug. 12, 2011) - Khan Resources Inc. (TSX:KRI) ("Khan" or "the Company") announced today that it has filed its financial statements and management's discussion and analysis for the three and nine month periods ended June 30, 2011 on SEDAR and has posted these documents to its website www.khanresources.com.
Highlights for the third quarter include:
· Net loss for the three month period ended June 30, 2011 was $1,374,000 or $0.02 per share compared to a net loss of $1,587,000 or $0.03 per share for the same period in 2010.
· Net loss for the nine month period ended June 30, 2011 was $2,344,000 or $0.04 per share compared to a net loss of $3,684,000 or $0.07 per share for the same period in 2010.
· Activities related to the International Arbitration action against the Government of Mongolia accelerated during the third quarter with the formal constitution of the presiding Tribunal on May 9, 2011. A first procedural hearing was held on June 21, 2011. The second hearing is scheduled for September 19, 2011 to assess whether the action should be split into a jurisdictional component and a merit component or continue with a single combined jurisdictional/merit component.
· The hearing on Khan's motion in the Ontario Superior Court of Justice to dispense with or order substitute service in respect of its lawsuit against ARMZ was delayed by the court to allow ARMZ to cross-examine Khan's counsel. This took place in July and a new court date of September 7, 2011 has now been set to hear Khan's original motion.
· Following the earthquake/tsunami in Japan, the share prices of most uranium companies has declined. As a result, Khan's investment in Macusani Yellowcake Inc. declined to $3,028,000 compared to the cost base for the investment of $4,339,000. With share prices for uranium companies now recovering and with Macusani's drill program in Peru having recommenced, Khan's investment in Macusani is expected to recover from the current depressed level.
NAR: NOTIFICATION OF BOARD MEETING
August 15, North Asia Resources Holdings Limited (HK:61) --
The board of directors (the “Board”) of North Asia Resources Holdings Limited (the “Company”) announces that a meeting of the Board will be held on Monday, 29 August 2011 at Units 2001-2, 20th Floor, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong for the purpose of, among other matters, considering and approving, inter alia, the announcement of the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended 31 June 2011.
East Asia Minerals Provides Corporate Update to Shareholders
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2011) - East Asia Minerals Corporation (TSX VENTURE:EAS) wishes to report on the findings of the review of all the Company's activities conducted by the new management team and provide details of the strategy for the company going forward.
…
Mongolian Uranium Projects (EAS – 100% owner and operator)
East Asia Minerals is in the process of restarting exploration activities in Mongolia at its uranium properties. Following thorough review of its operations in Mongolia, East Asia has approved a summer 2011 drilling program with the objective of further advancing the Enger, Ulaan Nuur and Ingenii-Nars projects.
East Asia continues to work with authorities in Mongolia to complete the transfer of assets from East Asia Minerals to East Asia Energy Corporation, a 100% subsidiary of East Asia Minerals.
Although East Asia Minerals is curtailing exploration activities at Miwah to focus efforts on the reclassification of the forest, the Company is expanding its exploration efforts across the portfolio by restarting field exploration in Mongolia and increasing our activity at Tangse and Sangihe.
East Asia Minerals will be providing regular updates of its drilling activities and corporate re-organization to its shareholders.
…
Prophecy Coal Clarifies Q1-2011 Financial Statement Disclosures
As a result of a review by the British Columbia Securities Commission, Prophecy Coal is issuing the following press release to clarify its Q1-2011 disclosure.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Prophecy Coal Corp. (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) ("Prophecy" or the "Company") announces at the request of the British Columbia Securities Commission, the Company has today filed amended Q1-2011 financial statements and management discussion and analysis (MD&A).
The changes include reconciliation between the Company equity in accordance with previous GAAP and current IFRS accounting regulations as at March 31, 2010. The amendments in MD&A include further discussion on the Company's operations, Prospectus offering, quarterly results, and related party transactions.
The amended financial statements and MD&A do not have an impact on operations or cash flows of the Company. The amended filings provide further clarification in the notes to the financial statements and further discussion on the Company's operations in the MD&A. The amended documents are available on SEDAR (www.sedar.com) and the Company's website.
Prophecy Coal Announces CFO Departure and Appointment of Interim CFO
Prophecy Coal also announces that CFO David Jan has left the company effective immediately to pursue other opportunities. Irina Plavutska, currently corporate controller of Prophecy, has been appointed Interim CFO. Ms. Plavutska is a professional accountant with over 20 years of diverse international experiences in financial reporting, auditing, and accounting. She is a member of Certified General Accountants Association of British Columbia.
John Lee, Chairman of Prophecy states: "Irina is very capable and we will take our time to find the CFO with the right fit and experience."
UPDATE 1-Mongolia picks Macmahon, BBM as contract miners for major deposit
* Selection could mean India's Mesco Steel out of running
* Macmahon, BBM likely to start operations later this year -Erdenes Exec (Adds details, background)
ULAN BATOR Aug 12 (Reuters) - Mongolian state-owned miner Erdenes Tavan Tolgoi LLC has selected Australia's Macmahon Holdings Ltd and Germany's BBM Operta as mining contractors for the major East Tsankhi coal deposit, a top company executive told Reuters on Friday.
The government has split the massive Tavan Tolgoi coal field into two sections for development. The east Tsankhi area is owned by Erdenes TT, which is planning an initial public offering worth at least $10 billion to help fund the development of the deposit, while the west Tsankhi block is being auctioned to miners via an international tender.
The tender to pick mining contractors for east Tsankhi had also included India's privately-owned Mesco Steel. Its not clear how much the contract mining agreement is worth.
"Macmahon and BBM Operta have been chosen as contract miners for east Tsankhi," Erdenes MGL Executive Director B.Enebish told Reuters.
"They should be able to start mining operations this year."
Erdenes has said that it plans to produce 15 million tonnes of coal from the east Tsankhi field by around 2015.
To help bankroll the operations, it signed its first-ever term contract from the field with the Aluminium Corp of China Ltd , which will sell some of the coal to Chinese, Japanese and South Korean companies.
Macmahon denies Mongolia reports
August 15 (AAP) Engineering contractor Macmahon Holdings has denied media reports that the company has won a coal mining contract in Mongolia, saying that no formal agreement has yet been reached.
But it did confirm on Monday that, in conjunction with Germany's BBM Operta, Macmahon is holding negotiations with Mongolian state-owned miner Erdenes Tavan Tolgoi JSC on a contract for mining operations at the large Tavan Tolgoi coal deposit.
B.Enebish: Tavantolgoi negotiations are under way
August 15 (news.mn) The Executive Director of state-owned Erdenes Tavantolgoi and Erdenes MGL LLC, B.Enebish, has told our reporter that coal exports from the Tavantolgoi mine recently commenced, and coal extraction will be increased. He also said the company’s profits will grow, which will generate more revenue for the state. He also said the exports indicate that the company will play a role in the international market.
Enebish said that, according to Erdenes Tavantolgoi’s reserve advisor, if 15 million tons of coal were extracted from the mine annually, the reserves would last 115 years. But increases in capacity would also require improvements in infrastructure.
Enebish also said negotiations are under way to determine several issues, including who will be chosen as the mine operator, how shares will be allocated, who will operate the mine, who will construct a railway for the mine, and the size of the advance payment to the Government.
G.Batkhuu: MPs must discuss Tavantolgoi issue most thoroughly
August 12 (news.mn) Deputy Speaker G.Batkhuu says no decision has yet been taken on holding a special session of Parliament to discuss the Tavantolgoi issue. He agreed that it is an important matter and MPs should debate it without any time constraint, because it relates to national security and the future of the nation. However, Batkhuu told our reporter that a special session should not stand in the way of the draft budget being passed before the constitutional deadline.
The deputy speaker also said a decision on the system to be followed in the next election should be taken by all the MPs and not just members of the MPP and DP, as the others also represent the people. Parliament will take up the draft law in the Autumn session. The election itself will take place next year.
D.Purevbayar: Thermal power station in Tavantolgoi might open in 2012
August 15 (news.mn) The Deputy Chief of the Energy Policy Board of the Ministry of Mineral Resources and Energy, D.Purevbayar, has told the Mongolian Mining Journal that Oyutolgoi LLC and Erdenes Tavantolgoi LLC have signed a memorandum of cooperation to build a thermal power station to provide energy in the Gobi region, as the Ministry has recommended. The station would have a capacity of 600 MW.
Foreign advisors have conducted studies to determine whether the plant should be built in Tavantolgoi or Oyutolgoi. According to one report, a station built in Tavantolgoi would open some four years before one built in Oyutolgoi. However, if the plant is built in Tavantolgoi, Oyutolgoi LLC could still be connected to the energy system.
The Ministry has indicated that it prefers the Tavantolgoi site, but the Government has yet to officially decide where the plant will be built.
Sod Mongol Group to build refinery in Dornogobi
August 12 (news.mn) Sod Mongol Group yesterday began work on a new oil refinery in Sainshand soum of Dornogobi aimag. The refinery will process 5,000 tons of crude oil annually, which will come from Tamsagbulag and Zuunbayan of Dornod aimag, as well as Russia and China.
Sod Mongol Group President Ts.Anandbazar, Minister for Foreign Affairs and Trade G.Zandanshatar, MPs J.Batsuuri and O.Chuluunbat, and other officials attended the ceremony. The refinery is scheduled to be completed in 2014. Twenty companies from Russia, China, and Singapore will help build the refinery, at a cost of USD600 million. The refinery will employ about 1,000 workers, and contribute some MNT28 billion to the state budget.
Workers from Mongolia, Russia, and China will be engaged in the construction.
Mongolia to build oil plant to meet domestic demand
ULAN BATOR, Aug. 12 (Xinhua) -- Mongolia says it will begin building an oil refinery in early 2012 in an effort to meet domestic demand and reduce dependence on neighboring Russia for energy supplies.
The refinery, with a designed annual output of about 1.5 million tons, is scheduled to be built next February in the southeastern city of Saishand, Dornogobi province, the government said Thursday.
Domestic oil consumption in the landlocked Asian nation is less than one million tons per year. However, there has been a purchase limitation this year as Russia, Mongolia's main oil provider, cut its export volume since April to meet soaring domestic demand.
Russia resumed supplying fuel to Mongolia in July but the long-term fuel shortage has not been completely solved. Oil supplies in some rural areas of Arkhangai, Gobi-Altai and Selenge Provinces remain tight.
President Tsakhia Elbegdorj proposed to build an oil refinery in June this year, stressing its importance to Mongolia.
Countryside continues to face fuel shortage
August 12 (news.mn) Fuel shortage still plagues the countryside. Petroleum companies try to avoid the high transportation costs to distant provinces and are quite happy with their increasing sales in Ulaanbaatar. The result has been that petroleum stations in Arkhangai, Gobi-Altai and Selenge aimags still limit single sales to 20 liters.
The officials of Ecozoo LLC of Arkhangai aimag have said local passenger transportation service operators have increased ticket prices by MNT3000 and MNT5000 following fuel shortage in the aimag.
South Korean president to visit Mongolia
August 15 (news.mn) South Korean President Lee Myung-bak has accepted an invitation from Mongolian President Ts.Elbegdorj and will pay an official visit to Mongolia between August 21st and 23rd. During Lee’s visit, representatives of the two `1nations will discuss a wide range of issues, including strengthening bilateral relations and cooperation, developing cooperation on trade and economic development, and exchanging workers. After that they hope to sign agreements related to those issues.
`qThe two nations will also discuss cooperating on regional and national issues. A South Korean-Mongolian business forum will be held in conjunction with the visit. Mongolia and South Korea established diplomatic relations in 1991. Mongolian presidents visited South Korea in 1991, 2001, and 2007, while South Korean presidents visited Mongolia in 1999 and 2006.
Britain arrests Mongolian official to press for favor: Mongolian NGO
ULAN BATOR, Aug. 12 (Xinhua) -- A Mongolian non-governmental organization has accused Britain of arresting a senior national official with an aim to obtain preferential policies in the Central Asian country.
Khadbaatar Bat-Yalalt, head of the Citizens Just Court, alleged that Britain planned to use 41-year-old Bat Khurt as a tool to force Mongolia to provide more favorable measures for local British businesses.
"The capture is in coordination with the British growing interests in its investment to Mongolia's economy and mining industry," Bat-Yalalt said.
The British High Court in London denied that Khurt, head of the executive office of Mongolia's National Security Council, was lured to London to be arrested. It upheld a previous decision to extradite the official to Germany.
Khurt was arrested on a European Arrest Warrant dating back to 2003 on suspicion of the kidnapping and false imprisonment of Damiran Enkhbat, who was charged with the 1998 assassination of a Mongolian minister but never confessed to the crime when alive.
The Mongolian government believed that Khurt was on a "special mission to meet with British officials and discuss bilateral cooperation in security issues" when he was arrested.
8 NGOs to organize movement for release of B.Khurts
August 12 (news.mn) An NGO, Justice for Citizens, today held a press conference to announce that it would organize movement to press for the release of B.Khurts, the Administrative Chief at the National Security Council, from a British prison, where he awaits extradition to Germany. He is charged with abduction of D.Enkhbat from France in 2003.
Khurts himself has said that he would not appeal against the latest decision confirming his extradition. The Head of the NGO, Kh.Bat-Yalalt, however said their movement was not only for the release of Khurts but also to assert the sovereignty of Mongolia. Seven other NGOs have agreed to join the movement.
Ts.Shinebayar quits MPRP
August 15 (news.mn) After spending six months attempting to register the MPRP as a political party in Mongolia, Ts.Shinebayar announced Monday that he has left the party to concentrate on the Khamug Mongol coalition he founded last December. Mr. Shinebayar denied recent reports that the Khamug Mongol coalition is implementing MPRP policy. He said he wished his colleagues in the MPRP well, and urged them to work for the interests of the Mongolian people.
Since forming the Khamug Mongol coalition, Mr. Shinebayar said he has received death threats, but he said he would not be deterred and promised to keep working for the Mongolian people.
“MONGOLIA: KING OF KNITTED GOODS”
August 12 (UB Post) We interviewed Toshio Nakashima, overseas sales director of Japan’s Shima Seiki company, which produces knitting machines which are sold in 92 countries around the world. It is Mr.Nakashima’s first time in Mongolia.
-What do you think about Mongolian wool and cashmere? How is the quality of our cashmere products?
-Nowadays, production of cashmere is concentrated in China. But I think Mongolia is the king of knitted goods because firstly, there is enough raw cashmere in Mongolia. Secondly, if Mongolians design the dress themselves and sell their product to a global market, it is possible to see more profit. But the Mongolian final product must be high-quality. So the production is of high importance. Also, it is beneficial for Mongolians to export manufactured goods, not only raw materials.
-Your company produces knitting machine. What is the advantage of Japanese knitting machines?
-Our company was established in 1962 and we will celebrate our 50th anniversary in 2012 so we are a skillful community. Our knitting machines knit at double speed with no defects. All sections of our machines are made only in Japan. Also, it is possible to make all kinds of clothes with patterns using our machines.
-You said that your company’s machine knits quickly. How long does it take to produce one cashmere shirt?
-About 8000-10000 shirts are made by our machine in one year. Mongolian producers said that a simple or no pattern shirt is being made by Shima Seiki machines in 27 minutes.
- You met with Mongolian cashmere product producers. What is the advantage of your machine for them?
-It is possible to save time whilst improving the quality of the product. Our machines have guarantee for 10-15 years and we provide an after service following a purchase by our buyers. Our official agency in Mongolia is “Knit Field” company. Mongolian cashmere producers can take our knitting machine if they paid half of cost in cash. But buyers must have confirmation of Trade and Development Bank.
Khaan Quest '11 comes to an end
August 12 (DVIDS) FIVE HILLS TRAINING AREA, Mongolia – Exercise Khaan Quest 2011 ended after more than two weeks of training was conducted between 11 nations, with more than a thousand participants, Aug. 12.
Khaan Quest is a U.S. Pacific Command combined joint-exercise hosted by the Mongolian armed forces, and in partnership with the U.S. military the exercise has been conducted annually since 2003 at the Five Hills Training Area. The exercise supports peacekeeping operations training in the form of a field training exercise and a command post exercise. Additionally, there are community outreach projects such as medical, dental, and veterinary civic action programs as well as an engineering civic action program, which all aim to benefit the local communities.
The purpose of the field training exercise and the command post exercise was to improve multinational interoperability between participating nations in peacekeeping operations worldwide.
“Nowadays more than 801,000 service members are participating in the peace support operations of more than 16 countries,” said Lt. Gen. Ts. Bayambajav, chief of the general staff, Mongolian Armed Forces. “This is evidence that the military has an important role in peace support operations, and that peace keeping is a prestigious job in which military persons can do.”
“The United Nations has been increasing its efforts and role to strengthen global peace and security,” said Mr. N. Enkhbold, vice speaker of the parliament of Mongolia. “[The U.N. is] actively carrying out a policy to settle international and regional disputes among nations by holding talks, political and diplomatic means and achieving some results.”
Participating nations’ representatives thanked the Mongolian Armed Forces for hosting the exercise, their hospitality and, most of all, their expertise in peace support operations.
“Mongolia has taken significant steps to strengthen its important role in supporting security and stability in the region,” said Maj. Gen. Joseph Chaves, deputy commanding general of U.S. Army, Pacific Command. “The armed forces of Mongolia have also provided considerable support to ongoing peace efforts in Western Sahara, Kongo, Sudan, and coalition operations Iraqi Freedom and Enduring Freedom in Afghanistan.”
Chaves also mentioned the importance of Exercise Khaan Quest as a multinational exercise and the benefits of developing interoperable forces.
“Our nations continue to demonstrate the willingness to develop a unified response and capabilities to work closely on a wide range of shared interests,” Chaves said. “Exercises like Khaan Quest serve as a platform to better prepare us to address traditional dilemmas and unconventional threats that transcend national borders.”
Once all remarks were complete, each countries’ platoon marched in a pass and review in front of Mongolian, international and Exercise Khaan Quest leaders.
After the ceremony, countries’ service members traded mementos to show their appreciation and respect for one another. Many countries’ service members walked away sporting a foreign military’s unit shirt or hat, which reflected the multinational flavor that Exercise Khaan Quest so strongly advocated.
US Department of State Turns to Move One for supply chain solutions in Mongolia
With two high level projects for US government services in Mongolia completed this month, Move One has emerged as the foremost partner for US concerns in Mongolia
August 11 (Move One) Move on is justifiably proud of its ability to respond to the needs of its clients, regardless of the scale of the project or the challenges posed by geography and regional environments. As the trading relationship between Mongolia and the US continues to flourish, Move One has emerged as the leading service provider for the US Embassy in Ulaan Baatar. In the last month alone Move One has transported two secure-clearance shipments for the Embassy which have ultimately helped strengthen trading relations between the two countries.
As the traffic of high-level personnel between Mongolia and the US steadily increases in volume and frequency, Move One has also been entrusted with the household goods (HHGs) of US Embassy staff relocating to the region. Move One has also assisted with exporting Embassy shipments from Mongolia, including 20-foot containers of HHG’s, as well as personal vehicles and other general equipment. The challenge posed by these projects is not just in the strict security requirements required by the Embassy, but also in the multi-modal supply chain route and the patchy local transportation infrastructure available inside the country. Despite these obstacles Move One still completed the projects ahead of schedule, and with excellent levels of customer satisfaction.
In addition to providing supply chain solutions to the US Embassy, Move One has also provided assistance to The United States Pacific Command. The USPC is currently engaged in advanced training exercises with the Mongolian army as part of the renewed cooperation between the two countries, and has therefore needed assistance in transporting equipment to a variety of remote locations. Noah Glassco, Move One’s Country Manager for Mongolia, commented that “Even when operating in such challenging environments as Mongolia, USPC knows that they can rely on the experience and expertise of Move One to ensure vital hardware is delivered on site, on time.”
Move One is pleased to be playing a key role in the development of the natural resourse based economy in Mongolia by providing supply chain solutions to help facilitate the trading relationship between Mongolian and US Governments and to assist global energy companies with their in-country operations. With an office in Ulaanbaatar and another to open shortly in Oyu Tolgoi, Move One is actively involved in the country’s industrial development, using all resources at its disposal to assist with freight forwarding and logistics services.
<Mogi & Friends Fund A/C>
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
Prophecy Coal Clarifies Q1-2011 Financial Statement Disclosures
As a result of a review by the British Columbia Securities Commission, Prophecy Coal is issuing the following press release to clarify its Q1-2011 disclosure.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 11, 2011) - Prophecy Coal Corp. (TSX VENTURE:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) ("Prophecy" or the "Company") announces at the request of the British Columbia Securities Commission, the Company has today filed amended Q1-2011 financial statements and management discussion and analysis (MD&A).
The changes include reconciliation between the Company equity in accordance with previous GAAP and current IFRS accounting regulations as at March 31, 2010. The amendments in MD&A include further discussion on the Company's operations, Prospectus offering, quarterly results, and related party transactions.
The amended financial statements and MD&A do not have an impact on operations or cash flows of the Company. The amended filings provide further clarification in the notes to the financial statements and further discussion on the Company's operations in the MD&A. The amended documents are available on SEDAR (www.sedar.com) and the Company's website.
Prophecy Coal Announces CFO Departure and Appointment of Interim CFO
Prophecy Coal also announces that CFO David Jan has left the company effective immediately to pursue other opportunities. Irina Plavutska, currently corporate controller of Prophecy, has been appointed Interim CFO. Ms. Plavutska is a professional accountant with over 20 years of diverse international experiences in financial reporting, auditing, and accounting. She is a member of Certified General Accountants Association of British Columbia.
John Lee, Chairman of Prophecy states: "Irina is very capable and we will take our time to find the CFO with the right fit and experience."
UPDATE 1-Mongolia picks Macmahon, BBM as contract miners for major deposit
* Selection could mean India's Mesco Steel out of running
* Macmahon, BBM likely to start operations later this year -Erdenes Exec (Adds details, background)
ULAN BATOR Aug 12 (Reuters) - Mongolian state-owned miner Erdenes Tavan Tolgoi LLC has selected Australia's Macmahon Holdings Ltd and Germany's BBM Operta as mining contractors for the major East Tsankhi coal deposit, a top company executive told Reuters on Friday.
The government has split the massive Tavan Tolgoi coal field into two sections for development. The east Tsankhi area is owned by Erdenes TT, which is planning an initial public offering worth at least $10 billion to help fund the development of the deposit, while the west Tsankhi block is being auctioned to miners via an international tender.
The tender to pick mining contractors for east Tsankhi had also included India's privately-owned Mesco Steel. Its not clear how much the contract mining agreement is worth.
"Macmahon and BBM Operta have been chosen as contract miners for east Tsankhi," Erdenes MGL Executive Director B.Enebish told Reuters.
"They should be able to start mining operations this year."
Erdenes has said that it plans to produce 15 million tonnes of coal from the east Tsankhi field by around 2015.
To help bankroll the operations, it signed its first-ever term contract from the field with the Aluminium Corp of China Ltd , which will sell some of the coal to Chinese, Japanese and South Korean companies.
Macmahon denies Mongolia reports
August 15 (AAP) Engineering contractor Macmahon Holdings has denied media reports that the company has won a coal mining contract in Mongolia, saying that no formal agreement has yet been reached.
But it did confirm on Monday that, in conjunction with Germany's BBM Operta, Macmahon is holding negotiations with Mongolian state-owned miner Erdenes Tavan Tolgoi JSC on a contract for mining operations at the large Tavan Tolgoi coal deposit.
B.Enebish: Tavantolgoi negotiations are under way
August 15 (news.mn) The Executive Director of state-owned Erdenes Tavantolgoi and Erdenes MGL LLC, B.Enebish, has told our reporter that coal exports from the Tavantolgoi mine recently commenced, and coal extraction will be increased. He also said the company’s profits will grow, which will generate more revenue for the state. He also said the exports indicate that the company will play a role in the international market.
Enebish said that, according to Erdenes Tavantolgoi’s reserve advisor, if 15 million tons of coal were extracted from the mine annually, the reserves would last 115 years. But increases in capacity would also require improvements in infrastructure.
Enebish also said negotiations are under way to determine several issues, including who will be chosen as the mine operator, how shares will be allocated, who will operate the mine, who will construct a railway for the mine, and the size of the advance payment to the Government.
G.Batkhuu: MPs must discuss Tavantolgoi issue most thoroughly
August 12 (news.mn) Deputy Speaker G.Batkhuu says no decision has yet been taken on holding a special session of Parliament to discuss the Tavantolgoi issue. He agreed that it is an important matter and MPs should debate it without any time constraint, because it relates to national security and the future of the nation. However, Batkhuu told our reporter that a special session should not stand in the way of the draft budget being passed before the constitutional deadline.
The deputy speaker also said a decision on the system to be followed in the next election should be taken by all the MPs and not just members of the MPP and DP, as the others also represent the people. Parliament will take up the draft law in the Autumn session. The election itself will take place next year.
D.Purevbayar: Thermal power station in Tavantolgoi might open in 2012
August 15 (news.mn) The Deputy Chief of the Energy Policy Board of the Ministry of Mineral Resources and Energy, D.Purevbayar, has told the Mongolian Mining Journal that Oyutolgoi LLC and Erdenes Tavantolgoi LLC have signed a memorandum of cooperation to build a thermal power station to provide energy in the Gobi region, as the Ministry has recommended. The station would have a capacity of 600 MW.
Foreign advisors have conducted studies to determine whether the plant should be built in Tavantolgoi or Oyutolgoi. According to one report, a station built in Tavantolgoi would open some four years before one built in Oyutolgoi. However, if the plant is built in Tavantolgoi, Oyutolgoi LLC could still be connected to the energy system.
The Ministry has indicated that it prefers the Tavantolgoi site, but the Government has yet to officially decide where the plant will be built.
Sod Mongol Group to build refinery in Dornogobi
August 12 (news.mn) Sod Mongol Group yesterday began work on a new oil refinery in Sainshand soum of Dornogobi aimag. The refinery will process 5,000 tons of crude oil annually, which will come from Tamsagbulag and Zuunbayan of Dornod aimag, as well as Russia and China.
Sod Mongol Group President Ts.Anandbazar, Minister for Foreign Affairs and Trade G.Zandanshatar, MPs J.Batsuuri and O.Chuluunbat, and other officials attended the ceremony. The refinery is scheduled to be completed in 2014. Twenty companies from Russia, China, and Singapore will help build the refinery, at a cost of USD600 million. The refinery will employ about 1,000 workers, and contribute some MNT28 billion to the state budget.
Workers from Mongolia, Russia, and China will be engaged in the construction.
Mongolia to build oil plant to meet domestic demand
ULAN BATOR, Aug. 12 (Xinhua) -- Mongolia says it will begin building an oil refinery in early 2012 in an effort to meet domestic demand and reduce dependence on neighboring Russia for energy supplies.
The refinery, with a designed annual output of about 1.5 million tons, is scheduled to be built next February in the southeastern city of Saishand, Dornogobi province, the government said Thursday.
Domestic oil consumption in the landlocked Asian nation is less than one million tons per year. However, there has been a purchase limitation this year as Russia, Mongolia's main oil provider, cut its export volume since April to meet soaring domestic demand.
Russia resumed supplying fuel to Mongolia in July but the long-term fuel shortage has not been completely solved. Oil supplies in some rural areas of Arkhangai, Gobi-Altai and Selenge Provinces remain tight.
President Tsakhia Elbegdorj proposed to build an oil refinery in June this year, stressing its importance to Mongolia.
Countryside continues to face fuel shortage
August 12 (news.mn) Fuel shortage still plagues the countryside. Petroleum companies try to avoid the high transportation costs to distant provinces and are quite happy with their increasing sales in Ulaanbaatar. The result has been that petroleum stations in Arkhangai, Gobi-Altai and Selenge aimags still limit single sales to 20 liters.
The officials of Ecozoo LLC of Arkhangai aimag have said local passenger transportation service operators have increased ticket prices by MNT3000 and MNT5000 following fuel shortage in the aimag.
South Korean president to visit Mongolia
August 15 (news.mn) South Korean President Lee Myung-bak has accepted an invitation from Mongolian President Ts.Elbegdorj and will pay an official visit to Mongolia between August 21st and 23rd. During Lee’s visit, representatives of the two nations will discuss a wide range of issues, including strengthening bilateral relations and cooperation, developing cooperation on trade and economic development, and exchanging workers. After that they hope to sign agreements related to those issues.
The two nations will also discuss cooperating on regional and national issues. A South Korean-Mongolian business forum will be held in conjunction with the visit. Mongolia and South Korea established diplomatic relations in 1991. Mongolian presidents visited South Korea in 1991, 2001, and 2007, while South Korean presidents visited Mongolia in 1999 and 2006.
Britain arrests Mongolian official to press for favor: Mongolian NGO
ULAN BATOR, Aug. 12 (Xinhua) -- A Mongolian non-governmental organization has accused Britain of arresting a senior national official with an aim to obtain preferential policies in the Central Asian country.
Khadbaatar Bat-Yalalt, head of the Citizens Just Court, alleged that Britain planned to use 41-year-old Bat Khurt as a tool to force Mongolia to provide more favorable measures for local British businesses.
"The capture is in coordination with the British growing interests in its investment to Mongolia's economy and mining industry," Bat-Yalalt said.
The British High Court in London denied that Khurt, head of the executive office of Mongolia's National Security Council, was lured to London to be arrested. It upheld a previous decision to extradite the official to Germany.
Khurt was arrested on a European Arrest Warrant dating back to 2003 on suspicion of the kidnapping and false imprisonment of Damiran Enkhbat, who was charged with the 1998 assassination of a Mongolian minister but never confessed to the crime when alive.
The Mongolian government believed that Khurt was on a "special mission to meet with British officials and discuss bilateral cooperation in security issues" when he was arrested.
8 NGOs to organize movement for release of B.Khurts
August 12 (news.mn) An NGO, Justice for Citizens, today held a press conference to announce that it would organize movement to press for the release of B.Khurts, the Administrative Chief at the National Security Council, from a British prison, where he awaits extradition to Germany. He is charged with abduction of D.Enkhbat from France in 2003.
Khurts himself has said that he would not appeal against the latest decision confirming his extradition. The Head of the NGO, Kh.Bat-Yalalt, however said their movement was not only for the release of Khurts but also to assert the sovereignty of Mongolia. Seven other NGOs have agreed to join the movement.
Ts.Shinebayar quits MPRP
August 15 (news.mn) After spending six months attempting to register the MPRP as a political party in Mongolia, Ts.Shinebayar announced Monday that he has left the party to concentrate on the Khamug Mongol coalition he founded last December. Mr. Shinebayar denied recent reports that the Khamug Mongol coalition is implementing MPRP policy. He said he wished his colleagues in the MPRP well, and urged them to work for the interests of the Mongolian people.
Since forming the Khamug Mongol coalition, Mr. Shinebayar said he has received death threats, but he said he would not be deterred and promised to keep working for the Mongolian people.
“MONGOLIA: KING OF KNITTED GOODS”
August 12 (UB Post) We interviewed Toshio Nakashima, overseas sales director of Japan’s Shima Seiki company, which produces knitting machines which are sold in 92 countries around the world. It is Mr.Nakashima’s first time in Mongolia.
-What do you think about Mongolian wool and cashmere? How is the quality of our cashmere products?
-Nowadays, production of cashmere is concentrated in China. But I think Mongolia is the king of knitted goods because firstly, there is enough raw cashmere in Mongolia. Secondly, if Mongolians design the dress themselves and sell their product to a global market, it is possible to see more profit. But the Mongolian final product must be high-quality. So the production is of high importance. Also, it is beneficial for Mongolians to export manufactured goods, not only raw materials.
-Your company produces knitting machine. What is the advantage of Japanese knitting machines?
-Our company was established in 1962 and we will celebrate our 50th anniversary in 2012 so we are a skillful community. Our knitting machines knit at double speed with no defects. All sections of our machines are made only in Japan. Also, it is possible to make all kinds of clothes with patterns using our machines.
-You said that your company’s machine knits quickly. How long does it take to produce one cashmere shirt?
-About 8000-10000 shirts are made by our machine in one year. Mongolian producers said that a simple or no pattern shirt is being made by Shima Seiki machines in 27 minutes.
- You met with Mongolian cashmere product producers. What is the advantage of your machine for them?
-It is possible to save time whilst improving the quality of the product. Our machines have guarantee for 10-15 years and we provide an after service following a purchase by our buyers. Our official agency in Mongolia is “Knit Field” company. Mongolian cashmere producers can take our knitting machine if they paid half of cost in cash. But buyers must have confirmation of Trade and Development Bank.
Khaan Quest '11 comes to an end
August 12 (DVIDS) FIVE HILLS TRAINING AREA, Mongolia – Exercise Khaan Quest 2011 ended after more than two weeks of training was conducted between 11 nations, with more than a thousand participants, Aug. 12.
Khaan Quest is a U.S. Pacific Command combined joint-exercise hosted by the Mongolian armed forces, and in partnership with the U.S. military the exercise has been conducted annually since 2003 at the Five Hills Training Area. The exercise supports peacekeeping operations training in the form of a field training exercise and a command post exercise. Additionally, there are community outreach projects such as medical, dental, and veterinary civic action programs as well as an engineering civic action program, which all aim to benefit the local communities.
The purpose of the field training exercise and the command post exercise was to improve multinational interoperability between participating nations in peacekeeping operations worldwide.
“Nowadays more than 801,000 service members are participating in the peace support operations of more than 16 countries,” said Lt. Gen. Ts. Bayambajav, chief of the general staff, Mongolian Armed Forces. “This is evidence that the military has an important role in peace support operations, and that peace keeping is a prestigious job in which military persons can do.”
“The United Nations has been increasing its efforts and role to strengthen global peace and security,” said Mr. N. Enkhbold, vice speaker of the parliament of Mongolia. “[The U.N. is] actively carrying out a policy to settle international and regional disputes among nations by holding talks, political and diplomatic means and achieving some results.”
Participating nations’ representatives thanked the Mongolian Armed Forces for hosting the exercise, their hospitality and, most of all, their expertise in peace support operations.
“Mongolia has taken significant steps to strengthen its important role in supporting security and stability in the region,” said Maj. Gen. Joseph Chaves, deputy commanding general of U.S. Army, Pacific Command. “The armed forces of Mongolia have also provided considerable support to ongoing peace efforts in Western Sahara, Kongo, Sudan, and coalition operations Iraqi Freedom and Enduring Freedom in Afghanistan.”
Chaves also mentioned the importance of Exercise Khaan Quest as a multinational exercise and the benefits of developing interoperable forces.
“Our nations continue to demonstrate the willingness to develop a unified response and capabilities to work closely on a wide range of shared interests,” Chaves said. “Exercises like Khaan Quest serve as a platform to better prepare us to address traditional dilemmas and unconventional threats that transcend national borders.”
Once all remarks were complete, each countries’ platoon marched in a pass and review in front of Mongolian, international and Exercise Khaan Quest leaders.
After the ceremony, countries’ service members traded mementos to show their appreciation and respect for one another. Many countries’ service members walked away sporting a foreign military’s unit shirt or hat, which reflected the multinational flavor that Exercise Khaan Quest so strongly advocated.
US Department of State Turns to Move One for supply chain solutions in Mongolia
With two high level projects for US government services in Mongolia completed this month, Move One has emerged as the foremost partner for US concerns in Mongolia
August 11 (Move One) Move on is justifiably proud of its ability to respond to the needs of its clients, regardless of the scale of the project or the challenges posed by geography and regional environments. As the trading relationship between Mongolia and the US continues to flourish, Move One has emerged as the leading service provider for the US Embassy in Ulaan Baatar. In the last month alone Move One has transported two secure-clearance shipments for the Embassy which have ultimately helped strengthen trading relations between the two countries.
As the traffic of high-level personnel between Mongolia and the US steadily increases in volume and frequency, Move One has also been entrusted with the household goods (HHGs) of US Embassy staff relocating to the region. Move One has also assisted with exporting Embassy shipments from Mongolia, including 20-foot containers of HHG’s, as well as personal vehicles and other general equipment. The challenge posed by these projects is not just in the strict security requirements required by the Embassy, but also in the multi-modal supply chain route and the patchy local transportation infrastructure available inside the country. Despite these obstacles Move One still completed the projects ahead of schedule, and with excellent levels of customer satisfaction.
In addition to providing supply chain solutions to the US Embassy, Move One has also provided assistance to The United States Pacific Command. The USPC is currently engaged in advanced training exercises with the Mongolian army as part of the renewed cooperation between the two countries, and has therefore needed assistance in transporting equipment to a variety of remote locations. Noah Glassco, Move One’s Country Manager for Mongolia, commented that “Even when operating in such challenging environments as Mongolia, USPC knows that they can rely on the experience and expertise of Move One to ensure vital hardware is delivered on site, on time.”
Move One is pleased to be playing a key role in the development of the natural resourse based economy in Mongolia by providing supply chain solutions to help facilitate the trading relationship between Mongolian and US Governments and to assist global energy companies with their in-country operations. With an office in Ulaanbaatar and another to open shortly in Oyu Tolgoi, Move One is actively involved in the country’s industrial development, using all resources at its disposal to assist with freight forwarding and logistics services.
<Mogi & Friends Fund A/C>
+5.7%
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
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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