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Wednesday, February 15, 2012

[CPSI NewsWire: Nova to Commence UHG Coal Transport in May, Acquires Remaining 30% in the Contractor in Shares]

CPSI NewsWire brings you market updates on Mongolia, compiled by CPS International, a Mongolian marketing arm of CPS Securities, a Perth, WA based stockbroking and corporate advisory firm, specialising in capital raising for mining and junior stocks.

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See Mongolia related quotes at bottom of newsletter

 

NOVA closed +1.54% to 8.25p

Nova: Acquisition of remaining 30% of the capital of Nova Mongolia Corp Pte Ltd

February 14, Nova Resources Limited (NOVA:LN) --

The Board of Directors are pleased to announce that Nova has purchased 300 shares in the capital of Nova Mongolia Corp Pte Ltd ("Nova Mongolia") from Ms Sarangerel Dorligjav and Mr Demberel Manga (the "Acquisition").  The total consideration for the Acquisition is £1,767,857.09 which is to be fully paid by the allotment and issuance of 23,571,428 ordinary shares of par value of £0.01 each ("Ordinary Shares") at the issue price of £0.075 each (the "Consideration Shares") and 12,857,143 warrants (the "Consideration Warrants"). 

The Consideration Warrants contain the following terms (the "Terms"): 

1.    the warrants are not exercisable until Nova has acquired or invested in a company that qualifies as a reverse takeover under the AIM Rules; 

2.    the warrants are exercisable at a subscription price of £0.02 for each Ordinary Share; and 

3.    the warrants will continue, subject to these conditions, until their expiry date on 28 February 2013

Neither Ms Sarangerel Dorligjav nor Mr Demberel Manga are related to any director or substantial shareholder of the Company. 

Nova now owns 100% of Nova Mongolia; Nova Mongolia owns 100% of Salins Limited and Salins Limited owns 100% of ZHCH Mining LLC

Application will be made to the London Stock Exchange for the Consideration Shares to be admitted to trading on AIM and it is expected that Admission will be effective and trading will commence at 8:00 am on 21 February 2012.  Following Admission, the Company will have 103,771,428 Ordinary Shares in issue.  Since the Company holds no shares in Treasury, the total number of voting rights in the Company is therefore 103,771,428 and this figure may therefore be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules. 

On a fully diluted basis, following execution of the Consideration Warrant together with execution/conversion of all outstanding options, warrants and convertible loan notes, but not including the convertible loan notes that may or may not be issued pursuant to the Investment Facility with Odin Structured Advisory Services LLP announced on 5 January 2012, (collectively, the "Convertibles") an additional 50,157,143 shares of par value £0.01 each would be issued, giving a total number of Ordinary Shares in issue of 153,928,571. 

The Convertibles comprise: 

1.    42,857,143 warrants which may only be exercised upon completion of a reverse takeover by 28 February 2013, issued as 30,000,000 warrants to Bernholz Limited (the sole beneficiary of which is Chan Fook Meng) and the 12,857,143 Consideration Warrants. The total number of Ordinary Shares that could be issued upon exercise is 42,857,143; 

2.    6,500,000 options issued to directors and management of Nova which can only be exercised in tranches as announced on 16 November 2011 and 20 January 2012.  The first tranche may only be converted in May 2012  The total number of Ordinary Shares that could be issued upon exercise is 6,500,000; and 

3.    60,000 convertible unsecured loan notes which may be converted at any time as announced on 10 February 2012. The total number of Ordinary Shares that could be issued upon exercise is 800,000.

Link to release

 

Nova: Commencement of coal transportation contract

February 14, Nova Resources Limited (NOVA:LN) --

Further to the announcement made on 17 January 2012, Nova is pleased to announce that a commencement date has been agreed for the coal transportation services contract between ZHCH Mining LLC ("ZHCH") and Transgobi LLC ("Transgobi") (the "Contract").  The services pursuant to the Contract will now commence on 15 May 2012.  The Board of Directors are informed that the management of ZHCH expects that if the Contract is executed efficiently and management performs, ZHCH's annual revenue could be about US$30,000,000.00 (about £19,000,000) and annual net profit could be about US$8,000,000 (about £5,000,000). 

Following the acquisition of the remaining 30% of Nova Mongolia Corp Pte Ltd by Nova, announced today, all revenue or profit of ZHCH will be fully consolidated into Nova's financial statements. 

The Contract is until 15 April 2013 but may be extended for one (1) year by ZHCH.  The parties intend to meet close to the expiry of the extended period to re-negotiate the transportation rates of a new contract. 

ZHCH will continue to market its logistics services in Mongolia to expand its business.

Link to release

 

MSE: THE REVISED TRADING RULES APPROVED

February 15 (MSE) The revised 'Electronic trading system rules' of Mongolian Stock Exchange was approved by MSE Board Resolution No.02 of February 20, 2012. The Rules shall take into effect on February 20, 2012. Please click here to view the Rules. 

Link to release

 

MSE will be open this Saturday, closed next Friday

February 15 (BDSec) Mongolian stock market will be open for trading on Saturday, February 18, in observance of the Mongolian Lunar New Year, which falls in 22nd-23rd of February this year, and will be closed later this month between 22nd and 24th.

BDSec offices will be following the same schedule. The offices will reopen under normal business hours on Monday, February 27.

Link to article

 

CPS International is a supporting organization of the Mongolian Economic Forum / Си-Пи-Эс Интернэйшнл ХХК нь Монголын эдийн засгийн форумийн дэмжигч байгууллага юм.

Та бүхнийг өргөнөөр оролцохыг хүсэж байна.

МЭЗФ: Өнөөдрийн хэлэлцүүлэг хойшлоод 29 -нд зохион байгуулагдахаар боллоо

February 15 (MEF) Монголын эдийн засгийн форумаас зохион байгуулж байгаа цуврал хэлэлцүүлгийн хуваарьт бага зэрэг өөрчлөлт орлоо. Өөрчлөлт орж байгаад уучлал хүсье

2 сарын 15 буюу Өнөөдөр зохион байгуулахаар төлөвлөж байсан Баялагийн орлогын зохистой удирдлага, эдийн засгийн төрөлжилт хэлэлцүүлэг хойшилж, 2 сарын 29 -нд зохион байгуулахаар боллоо. Бусад хэлэлцүүлгүүдийн хуваарьт өөрчлөлт ороогүй. Тогтосон газраа, тогтсон цагтаа болно. Таныг хэлэлцүүлэгт идэвхитэй оролцохыг урьж байна

Хаана: Хууль зүйн үндэсний хүрээлэнгийн 304 тоот

Хэзээ: Тухайн өдрийн 16:00 цагт 

2012 оны эдийн засгийн чуулганыг угтан зохион байгуулагдах хэлэлцүүлгийн хуваарь

 

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Т.Чулуун багшийн лекц: Тогтвортой хөгжил & өрсөлдөх чадвар: Ногоон шийдэл & инноваци

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Монголын эдийн засгийн чуулган 2012

Монгол IPO 2012 чуулган

 

Ногоон шийдэл: Нүүрс үү, салхи уу ?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Эдийн засгийн өсөлт ба санхүүгийн салбар

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ядуурал - Өсөлт ядуурлыг бууруулж чадах уу?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Нефтийн бүтээгдэхүүний хараат байдал, даван туулах нь

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Инновацийн орчин, технологийн гарц

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ногоон шийдэл: Усны менежмент

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Эдийн засгийн өсөлт ба санхүүгийн салбар

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Эрүүл мэндийн салбар - Асуудал ба шийдэл

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Тэтгэврийн тогтолцоо: Нийгмийн хамгааллын хэрэгсэл болох нь

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Төсвийн зарцуулалт ба татвар төлөгчдийн хяналт

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Эрсдэл, түүний удирдлага

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Баялгийн орлогын зохистой удирдлага, эдийн засгийн  төрөлжилт

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Link to MEF

 

TT CEO unfazed by delays An interview with Erdenes Tavan Tolgoi CEO, B. Enebish

February 14 (UB Post) --

A Government Assembly meeting was held regarding TT's nominal value stocks that are in its 39th Protocol. What happened regarding this? 

It has been postponed until next week. 

In your opinion, what decision will be made? Is it really necessary to make changes to the 39th Protocol?

Erdenes Tavan Tolgoi is a state owned company. Responsibilities for vital decisions that concern stocks go to the Government. We will work within the guidelines issued by the Government. The decision will be made soon. 

We will release stock in late May. But a lot of things will depend on the international stock exchange markets and on how fast the process of giving out stock to people and private companies go.
As for our productions, we aim to produce 3 – 4 million tons of coal this year.

People criticize that IPOs released by private companies grow extremely fast, whereas state owned companies' IPOs progress is slow. Do you agree with this?

I don't think so. The Government will consider many objective and goal related factors when operating the company. This is not the reason our mining operations are at a slow pace. State Great Khural protocol was out in the summer of 2010, or one and a half years ago. Then we began our operations. We produced 1 million tons of coal last year. Most problems in our mining and transportation processes have been solved during this time. Now we are much less worried than before. State owned mining companies are actually growing fast. 

How will the issuing of 1 million MNT to Mongolian citizens effect stock exchanges? 

State Property Committee is discussing this with the Government. I don't have anything to say on the subject.

Why are foreign company tenders are progressing very slowly?

Mongolia has been discussing this with Russia, Korea, China, and the United States for 9 to 10 months. I cannot give a definite answer. Discussions and decisions are being done at the Government level. As for the company, TT is organizing those meetings and discussions. 

What is the nominal price of stocks that are to be issued to the people?

It is not possible to determine it at this time. Generally, nominal prices of stock by companies are relatively low. It is slowly increased by the people who are willing to purchase the stock, possibly by ten or hundred times the initial price. The nominal price does not have to be high or align with market price.

What is being done to increase the price of our coal?

Shortly after Tavan Tolgoi was in operation, it needed to begin selling or exporting its produced coal. A Chinese state owned company made a deal with a steel producing company to sell 1 million tons of coal from the fourth layer of the mine, for USD 70 per ton. 

In the next two years when we start washing and refining our coal, we will again make an agreement on our coal price. We had received an advance payment for 1 million tons of coal, which we donated to the Human Development Fund. 

Have the Hong Kong Stock Exchange problems been solved?

The Mongolian Government has decided to sell TT stocks at stock exchanges in Ulaanbaatar, London and Hong Kong. The HKSE is required to agree with Mongolian stock exchange jurisdiction and laws. Working groups from both of the parties have been assigned to work on this issue, but it has not yet been resolved. To finalize this issue, the Mongolian Law on Bonds and Stocks must be passed first. This law is currently is in its development stage. 

Will it be passed before the elections?

Yes, it will be passed before the 2012 elections. It is now being discussed at the State Great Khural. It is a national concern. 

Is it taking long because of conflicts between the two political parties?

I don't think it is taking that long. TT is doing its job.

Link to article

 

Standing Committee discuess Resolution 39 on TT

February 14 (news.mn) On Monday, the Standing Committee on Economics discussed proposed amendments to Parliament's 39th protocol, which concerns the Tavantolgoi mining project. The amendments were submitted by Ya.Batsuuri and D.Odbayar.

Committee members decided to submit the proposals to Parliament.

The amendments call for 20 percent of Tavantolgoi shares to be distributed to Mongolian citizens for free. Most citizens would receive 1,072 shares. Citizens could also opt to take cash instead, in which case the Government would keep those shares.

Some MPs complained that the Government was not a good manager, and if it ended up with too many shares, it might not be able to sell the remaining shares on international exchanges, which set the rules for IPOs. Some MPs also warned that, by giving away 20 percent of the shares, the shares could lose value.

Erdenes MGL LLC Director B.Enebish said the company plans to issue shares of Erdenes Tavantolgoi LLC on the London Stock Exchange and the Hong Kong Stock Exchange. The London exchange could issue as much as 25 percent of the shares.

Batj.Batbayar said that all actions taken to issue the shares on international stock exchanges should be transparent. 

MPs also asked how the shares should be allocated to students, who already receive MNT 500,000 to MNT 1 million stipends for tuition fees. A working group said students who receive a MNT 500,000 stipend will be eligible to receive 536 shares. Students who have taken the MNT 1 million stipend will still be eligible for a monthly allowance of MNT 21,000, but will not be eligible to receive shares.

Link to article

 

Parliament discusses elections, Tavantolgoi shares

February 14 (news.mn) Parliament on Tuesday discussed two competing draft laws on local elections, one that would have local elections held the same day as the parliamentary election, and one that would have local and parliamentary elections held separately.

MPs decided to submit the drafts to the Standing Committee on State Structure for revisions.

MPs then discussed proposed amendments to Parliament's 39th protocol, which deals with the Tavantolgoi mining project.

The amendments would have most citizens receiving MNT 1 million in Tavantolgoi shares each, with the money to come out of the Human Development Fund. But students, elderly people, and disabled people who receive stipends of MNT 1 million each would not be eligible to receive the shares.

The amendments would also allow citizens to sell their shares back to the Government before the shares are sold on international markets, and domestic organizations could buy shares at a set price. 

Parliament approved sending the proposed amendments to the Standing Committee on Economics for a final discussion.

Link to article

 

Finance Minister meets with Development Bank officials

February 14 (news.mn) Finance Minister D.Khayankhyarvaa received managing officials of the Development Bank (DB) on Tuesday to discuss the bank's activities.

DP Executive Director Kim Jang Jin said the bank's activities are being streamlined and are on schedule. But he noted that the Government's work for the bank has not been well implemented.

D.Khayankhyarvaa said the Government will decide all issues related to the DB by March. He also asked bank officials to formulate plans for issuing bonds on foreign and domestic markets, and for financing railway and road construction with bonds.

Link to article

 

Ministry ratifies listing of mineral resource reserves

February 14 (news.mn) The Ministry of Mineral Resources and Energy has ratified "Hard Minerals and Resources Reserve Category of Mongolia" and "Rules to Use Category of Hard Minerals and Resources of Deposit Mine Reserves" in accordance with Order No. 022 of the Mineral Resources and Energy Minister on January 19, 2012. 

It is a catalog of mineral resource reserves and wealth in Mongolia and it will serve as the basis for international comparisons.

The Ministry has been instructed to enforce the categories and rules of usage from April 15, and temporary rules for categories and usage passed by the Chief of the Mineral Resources Authority on February 18, 1998, will be cancelled effective April 15. 

Link to article

 

2,500 apartments to be built beginning in March

February 15 (news.mn) As part of the Government's efforts to launch its "100,000 Apartments" program before the 2012 parliamentary election, Parliament has ordered construction to begin on 2,500 new apartments in March.

Builders Union President M.Batbaatar says the 2,500 apartments will be built in Buyant-Ukhaa, Bayangol area, and the seventh block of the Sukhbaatar district. A total of 17,000 new apartments are to be built in the capital this year.

M.Batbaatar added that six-percent loans could be made available to homebuyers in April. The National Committee of Housing has prepared proposed rules for the loan program and will submit them to Parliament. 

Critics say that, even with a six-percent loan, citizens with average incomes will not be able to afford the apartments because they are too expensive.

National Committee of Housing officials say apartment prices will stabilize in the autumn. 

Link to article

 

Standing Committee discusses USD 20 million loan agreement with Japan

February 14 (news.mn) On Monday, the Standing Committees on Budget and on Economics jointly discussed a proposed USD 20 million (JPY 1.5 billion) loan agreement between the Government of Mongolia and the Japanese Organization for International Cooperation. 

Members of the committee decided to submit the proposal to the Standing Committee on Security and Foreign Policy. 

Prime Minister S.Batbold is expected to sign the agreement during his official visit to Japan

N.Batbayar suggested the Premier could also discuss construction of a new airport in the Khushigt Valley when he discusses the loan agreement with Japanese officials.

Batj.Batbayar said the USD 20 million loan should not be used for poverty reduction and health insurance programs. 

Finance Minister D.Khayankhyarvaa and other officials stated that Mongolia could use the money to help cover the country's budget deficit. Officials said Mongolia has met the conditions in the first phase of the agreement, and further phases could still be discussed.

Link to article

 

Standing committees approve USD 15 million loan to fight pollution

February 14 (news.mn) The Standing Committees on Budget and on Economics held a joint meeting on Monday to discuss a proposed agreement between the Government of Mongolia and the World Bank's International Development Association (IDA) to reduce air pollution in Ulaanbaatar.

The committees approved the agreement, under which the government will borrow USD 15 million from the IDA to implement anti-pollution programs. The terms of the loan are 1.25 percent interest over 25 years. 

The money will be used in part to pay for energy-efficient stoves in ger district households and to connect ger districts to a central-heating system. Some MPs questioned the need for the loan, since the Millennium Challenge Fund (MCF) is already implementing an energy-efficient stove project.

Deputy Mayor D.Ganbold explained that the MCF will only implement the project for the next two or three years, and their stoves can only heat an area of 30 to 35 square meters. The IDA project will supply larger stoves, and could ultimately reduce air pollution by 80 to 90 percent, according to some estimates.

D.Zagdjav said developing the ger districts would be a better way to reduce air pollution than simply supplying energy-efficient stoves.

D.Ganbold noted that the "New Creation" plan passed by Parliament calls for the construction of 100,000 apartments by 2016. Altogether, there were 180,000 households in ger districts in 2011, and that number is expected to reach 200,000 this year. He said that, if migration from the countryside to Ulaanbaatar continues to increase, even more apartments will need to be built.

Link to article

 

Khan Investment Management Update (14/02/2012)

February 14 --

January saw all major international equity indexes make gains from 2011's close on the back of surprisingly positive economic data out of the United States and Europe. Asia too fared well although much of the region took a breather in the latter portion of the month to celebrate the Lunar New Year. The Mongolian Stock Exchange continues to demonstrate its non-correlation to global indices, and finished the month down 5.2%. The Khan Mongolia Equity Fund portfolio was down 0.94% for the month, affected substantially by significant sell offs in two positions. 

Ivanhoe Mines Ltd (IVN:US) fell 13% to USD 16.14 after Rio Tinto raised its interest from 49% to 51% in an off-market transaction (at CAD 20 per share), and then stated publically that it had no immediate intention to buy further shares in the company. We agree with the general market consensus that Rio Tinto will seek to acquire in full Ivanhoe's 66% interest in Mongolia's Oyu Tolgoi – the question remains when, not if. Winsway Coking Coal Holding Ltd (1733:HK) fell victim to a Chinese short selling scam and finished down 19.5%  in the last days of January trade. The stock price has subsequently recovered to "pre-scam" levels. We identified the Jonestown Research scam early, and happily used the panic sell off to increase our position. Since inception the Company has analyzed and participated in 2 IPOs, rejected a 3rd and a debt offer.  The portfolio is invested in 16 companies. 

The Khan Mongolia Equity Fund performance for January was -0.94%.

The Net Asset Value as at 31 January 2012 was USD 92.80

The January Factsheet can be downloaded by registered users of the Khan Investment Management website

It was announced recently that Goldman Sachs has acquired 4.8% of Mongolia's Trade & Development Bank – highlighting how keen foreign investors are to gain exposure to the economic growth being fuelled by Mongolia's resource boom. A number of Australian based brokers have increased coverage of ASX listed Mongolian mining exploration companies, and have been recently recommending several as speculative "buys". 

I will be travelling to Mongolia in early March and will be attending the 2012 Mongolia Economic Forum, Mongolia's largest economic and social Forum aimed at improving economic growth and development policy. The Forum will be held in Ulaanbaatar on the 5th & 6th of March, and will undoubtedly intensify international interest in this rapidly growing economy. Further details can be found here

Following my Mongolia visit, I will be presenting at the 8th Annual Asian Mining Congress, to be held at the Marina Bay Sands in Singapore 26-30 March. We are delighted to extend to you a complimentary pass to attend the conference if you would like to join us. Please note that all requests for complimentary passes must be received and processed before 29th of February.  

Please don't hesitate to contact me if you would like to discuss the Khan Mongolia Equity Fund in any further detail. 

I look forward to updating you further of our developments next month. 

Best regards, 

Travis Hamilton

Managing Director

KHAN INVESTMENT MANAGEMENT LIMITED

Link to site

 

Eurasia Capital: MONGOLIA OUTLOOK 2012

February 14 --

World's Fastest Growing Economy

Mongolia continued its strong performance in 2011 in terms of the pace of economic growth, equity market, exports and foreign direct investment inflows. The country's performance in 2011 has exceeded nearly all our projections we made in our Mongolia Outlook 2011 report published in January 2011. We estimate Mongolia overtook Qatar and has become the world's fastest growing economy in 2011 (the summary of key developments in 2011 is provided on pp 4-6). Investor sentiment and attractive valuations have supported the stock market and ranked this frontier market as the second best equity market globally last year. Robust international commodity prices and firm demand in China, the key market for Mongolian commodities, have boosted exports to an all-time high. Accelerated development of the Oyu Tolgoi project and investor appetite for quality resource assets have attracted a record level of foreign direct investments. We believe that Mongolia that is emerging as a key commodity supplier in Asia will continue its stellar performance through 2012 and beyond.

We project Mongolia to experience astonishing 20% GDP growth this year, further solidifying its undisputable position as the world's fastest growing economy in 2012. Substantial increase in exports (in particular, coal and iron ore), government spending, investments in major mining projects, primarily in Oyu Tolgoi and rapid surge in consumer spending will be the key drivers of the growth this year.

We remain bullish on MSE-listed equities in 2012. We expect the Mongolian equities to benefit from increased capital inflows and estimate the MSE TOP-20 Index to reach 28,000by the end of this year, or +30% gain for 2012. We favor small caps that will outperform the index due to high growth of their businesses buoyed from low base effect and attractive valuations. We anticipate more IPOs and secondary offerings of Mongolian companies, both domestically and internationally, especially much-anticipated jumbo IPO of Erdenes Tavan Tolgoi. Therefore, we strongly recommend our clients to invest in the Mongolian local equities as the most effective way to gain exposure to the Mongolian growth story.

We target the Silk Road Mongolia Index (SILKMN) that includes Mongolia-focused internationally and selected locally-listed companies to reach 1,330 (+20% growth) in 2012, to be somewhat weighed down by expected subdue share performance of Ivanhoe Mines, the largest component of SILKMN index. SILKMN index finished 2011 poorly, down -27% due to negative investor sentiments toward emerging/frontier markets, triggered by the EU debt crisis and risk aversion. As a result, Mongolia-related stocks have been unjustifiably oversold last year. We advise investors to snap up the most beaten up stocks as the companies' strong fundamentals and value of their resource assets become more apparent.

Our key investment themes in 2012 are opportunities across asset classes - local and international equities, fixed income, private equity and real estate. Our top picks for the next 12 months among local stocks are Tavan Tolgoi (coking coal), APU (beverages), Remicon (construction materials) and Mongolia Development Resources (property). Mongolian Mining Corp. (coking coal), Prophecy Coal (thermal coal, power), Entree Gold (gold) and Erdene Resource Development (molybdenum, coal) are our top picks among the Silk Road Mongolia Index companies.

The analysis of 30 largest Mongolian and Mongolia-related companies and our respective recommendations (from "Buy" to "Sell") are provided in pp 49-79 of this report.

Link to report page

 

Inner Mongolia Coal reserves reach 770 billion tonnes

February 14 (Steelguru, source: www.steelhome.cn/en) Inner Mongolia Autonomous Region, China's leading coal producer discovered new coal reserves of 17 billion tonnes in 2011 bringing the total coal reserves to a record 770.3 billion tonnes.

The regional land and resources department said that the autonomous region's reserves of molybdenum, copper and gold also saw big increase last year separately rising 37%, 25% and 14%.

hina has the world's third largest coal reserves and Inner Mongolia overtook Shanxi province to become the country's largest coal producer in 2010. In 2011, Inner Mongolia produced 990 million tonnes of coal jumping 25.9% from a year earlier.

Link to article

 

---

"Mogi" Munkhdul Badral

Senior Client Manager / 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.

 

Suite 1213 · Level 12 · 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 AFSLicense 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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