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Tuesday, November 11, 2014
Headlines in Italic are ones modified by Cover Mongolia from original
TRQ closed +2.2% Monday to US$3.25, +6.38% Friday
UPDATE 1-Mongolia PM ousting may delay mine talks -Turquoise Hill
(Recasts with conference call; background)
Nov 10 (Reuters) - Last week's ousting of Mongolia's prime minister is likely to delay talks on resolving a long-running dispute over the huge Oyu Tolgoi copper and gold mine in the mineral-rich country, joint-mine owner Turquoise Hill Resources Ltd said on Monday.
Mongolia's parliament voted last week to remove Prime Minister Norov Altankhuyag amid concerns about a serious economic downturn as gold, copper and coal prices and foreign direct investment slump.
"The political situation certainly could result in a possible delay," Turquoise Hill Chief Executive Kay Priestly said on a conference call to discuss the company's third-quarter results.
Vancouver-based Turquoise Hill owns 66 percent, and the Mongolian government 34 percent, of Oyu Tolgoi, which is one of the world's biggest gold and copper mines. The mine is operated by global mining giant Rio Tinto Plc , which owns a majority stake in Turquoise Hill.
Mongolia and Rio Tinto/Turquoise Hill have been unable to agree on investment terms for the $5.4 billion underground expansion of Oyu Tolgoi, which is currently an open-pit mine.
Priestly said Rio Tinto and Turquoise Hill had recently made an offer to the government to resolve the dispute. However, this was made before the removal of the prime minister.
Another hold-up has been a tax dispute between the government and the companies. A government official said in September that the dispute had been resolved, with the two sides agreeing to cut an outstanding tax bill to $30 million from $130 million.
However, Priestly said that while the reduction is "welcome," Oyu Tolgoi is appealing the ruling.
Earlier on Monday, Turquoise Hill reported a lower third-quarter loss and said it expected strong concentrate sales to continue during the fourth quarter and sales to exceed production.
Contracts have been signed for all of Oyu Tolgoi's expected 2014 concentrate production, while long-term contracts account for 92 percent of 2015 planned production.
Turquoise Hill's shares ended 3 percent higher on the Toronto Stock Exchange at C$3.71.
Turquoise Hill 3Q EPS Cont Ops Matches Est.
By Aoyon Ashraf
Nov. 10 (Bloomberg) -- Turquoise Hill 3Q total rev. $466m, est. $511.7m; sees Oyu Tolgoi output 135k-150k mt copper, 550k-600k oz gold in concentrates for 2014 (unchanged from Oct. 14 view).
* Turquoise Hill, Rio Tinto and Government of Mongolia continue to work together to resolve shareholder matters, finalize project finance to restart underground development
* Have made an offer to govt. to resolve holder matters
* Sees Oyu Tolgoi's open pit copper, gold grades rising in 4Q, 1Q15
* 3Q concentrate sales rose ~9% q/q; sales exceeding production due to planned inventory drawdown
* 3Q metals production inline q/q, as higher copper grades offset lower throughput due to rake arm failure in one of Oyu Tolgoi's 2 tailings thickeners
* NOTE: Oct. 14, Turquoise Hill 3Q Oyu Tolgoi Production 36,600 Tonnes of Copper
Rio Hopeful Mongolia PM Change Will Unblock Oyu Tolgoi
November 10 (Bloomberg) Rio Tinto Group (RIO) sees a change of leadership in Mongolia as potentially positive for the stalled $5.4 billion expansion of the Oyu Tolgoi project, while leaving open the prospect for another writedown at the mine.
Video: Rio Tinto CEO on Mongolia Project, Diamond Business – Bloomberg TV, November 11
Mogi: correct spelling is SouthGobi
Southgobi Resources 3Q Sales $7.6m vs $15.65m Year Earlier
By Kana Nishizawa
Nov. 10 (Bloomberg) -- SouthGobi 3Q net loss $24.1m vs $41.9m yr ago, co. says in statement to Hong Kong stock exchange.
* Co. 3Q loss/shr $0.13 vs $0.23
* Co. continues to operate under "difficult market conditions"
* Co. has no assurance it will have sufficient funding for rest of 2014 to be able to continue operations: statement
* Co. is in talks with various parties for potential funding to continue operations
* China's coal prices to remain under pressure through 2014 and beginning of 2015, impacting co.'s margins and liquidity: statement
* 3Q ave. realized selling price $13.87/tonne vs $22.05/tonne
* 3Q raw coal production 0.17m tonnes vs 1.13m tonnes
* Co. placed approx. half of workforce on leave since mid-June
* Workforce expected to be on leave through end of Nov.
Southgobi May Not Continue as Going Concern If No Funding
By Larry DiTore
Nov. 10 (Bloomberg) -- In talks with various parties for potential funding.
* Operating under "difficult market conditions"
* Placed half workforce on leave since mid--June, expects it to stay on leave until end Nov.
Mongolia Growth Group Ltd. September 2014 Communiqué to Shareholders
Toronto, Ontario, November 10 (FSCwire) - / Mongolia Growth Group Ltd. (YAK: TSXV and MNGGF: USA), a real estate investment and development company benefiting from the dynamic growth of the Mongolian economy via ownership of institutional-quality commercial property assets in the capital city of Ulaanbaatar, Mongolia is pleased to announce the release of its September 2014 Shareholders Letter.
CEO Communiqué to Shareholders:
After taking over as CEO in March this year, we restructured our business operations to better align with a best-in-class real estate company. Today, we want to discuss two of these operations for the benefit of our shareholders:
i) The Real Estate Investment Portfolio (assets owned and managed by MGG)
ii) Real Estate Developments (assets developed and built by., prior to their transfer to our Real Estate Investment Portfolio)
i) The Real Estate Investment Portfolio
MGG currently owns 57 Properties, including retail, office and residential.
We refined our strategy this year, which was to only keep properties that fall within the following criteria:
· Commercial properties (retail and office)
· Located in the Central Business District
· Located along tier one and tier two roads
· Highly bankable assets
Our assets that fall outside of these parameters, we will gradually sell these over time and this initiative has commenced and is progressing well.
We will not be owning residential property as Investments going forward.
The proceeds from these sales are being recycled into the capital requirements of our downtown real estate developments in order to work towards fulfilling our potential revenue generating capabilities.
ii) Real Estate Developments
This year, we are undertaking the company's largest and most complex project to date, the redevelopment of the Tuguldur Center. Tuguldur Center is an 80 year old building located in the heart of downtown, in the Nation's capital city, Ulaanbaatar.
Under our plan, we have changed the use of this property from having previously been a medical facility known as Tuguldur, and have transformed it into a modern shopping destination. For this reason, we would like to take this opportunity to dedicate this month's CEO Communiqué to our flagship development and outline what we have planned and designed, and which is now well under construction.
TUGULDUR CENTER DEVELOPMENT PROJECT
In February 2014, the MGG Board approved the acquisition of various buildings and lots of land that would eventually comprise the overall area for the proposed Tuguldur Center.
Since our vision for Tuguldur Center would be a comprehensive and extensive development, we decided not to attempt in one go the permanent long term development following the acquisition, with the associated costs and timeline of a multi-year mega project. Instead, for the first five years we will have an Interim Development, which will be staged at low-cost for each stage, but high-yielding.
For this interim development, MGG would provide all funding and own 100% of this property, while controlling all development / management functions from start to finish.
In parallel, over the next three or so years, we will carefully plan the long term development of this significant land package in the center of downtown Ulaanbaatar, Mongolia, while also seeking a suitable joint venture partner. We envision a partner that would provide project financing for MGG's long term vision, which would encompass using our entire land package at this site to build a trophy mixed-use high rise development to compliment the Ulaanbaatar skyline.
MGG Ulaanbaatar, Mongolia Business Activities Update
A Progress Note from the CEO:
i) The Real Estate Investment Portfolio:
As our 57 property portfolio transitions more into investment grade assets, we will be establishing an Asset Management function to oversee the portfolio, in place of our Property Management function.
ii) Real Estate Developments:
Our team are very busy with the planning, design and construction of Tuguldur Center Development Stage 1, which is on schedule and within budget.
This will be covered in future updates.
The real estate portfolio is 97% leased and understandably this doesn't cover our land bank. There is no vacancy in retail, with only a few office spaces remaining.
iv) iv.) Property Sales:
We are executing on our 2014 strategy of having a real estate portfolio that is only commercial and downtown, and we are gradually selling properties outside this strategy.
The sale of our residential properties and non-core commercial properties will be ongoing well into 2015.
We have 5 residential properties remaining and they will all be sold, as per our strategy of having no residential property.
We sold 1 residential property in September, 2014.
The proceeds from our property sales are being recycled into the capital requirements of our downtown real estate developments.
Once Tuguldur Center Stage 1 is complete in November 2014, the new revenue will imminently commence.
vi) Mongolian Economic Update
Mongolia Holdings, Inc. Appoints Marcum LLP as New Auditor
Marcum LLP brings auditing capabilities to Ulaanbaatar, along with a variety of other non-audit services, for Mongolia Holdings' proposed Hertz Equipment Rental franchise operations in Mongolia.
Ulaanbaatar, Mongolia (PRWEB) November 10, 2014 -- Mongolia Holdings, Inc. (OTCQB: MNHD) is pleased to announce the appointment of Marcum LLP as its new auditor. Marcum LLP is replacing GBH CPA's PC. There were no disagreements between the Company and GBH on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the United States. Ranked #15 nationally, Marcum LLP offers the resources of 1,300 professionals, including over 160 partners, in 22 offices throughout the U.S., Grand Cayman and China. Headquartered in New York City, the Firm's presence runs deep, with full-service offices strategically located in major business markets. Marcum is a member of the Marcum Group, an organization providing a comprehensive range of professional services spanning accounting and advisory, technology solutions, wealth management, and executive and professional recruiting.
Former US Ambassador E. Michael Ussery, the Company's Chairman, commented: "As the only PCAOB authorized and GAAP qualified public company auditing firm in the region and with a full staff in Beijing, a short flight from Mongolia's capital city of Ulaanbaatar, they were the best choice."
About the Company:
Mongolia Holdings, Inc., through its wholly owned subsidiary Mongolia Equipment Rental Corporation, is the Hertz Equipment Rental franchisee for Mongolia. This exclusive franchise allows the Company to operate a business of renting, selling, and maintaining equipment for use in construction, mining, materials-handling, commercial, and industrial activities in Mongolia under the unique plan and system of Hertz Equipment Rental Corporation and Hertz Equipment Rental System.
MSE News for November 10: Top 20 +0.23% to 15,346.52, Turnover ₮12.5 Million
Ulaanbaatar, November 10 (MONTSAME) At the Stock Exchange trades on Monday, a total of 42,999 shares of 18 JSCs were traded costing MNT 12 million 504 thousand and 555.00.
"Genco Tour Bureau" /27,180 units/, "State Department Store" /6,326 units/, "Hermes Center" /2,845 units/, "Khokh Gan" /2,170 units/ and "Remicon" /1,915 units/ were the most actively traded in terms of trading volume, in terms of trading value were "State Department Store" (MNT three million 780 thousand and 640), "Genco Tour Bureau" (MNT two million 310 thousand and 480), "Telecom Mongolia" (MNT two million 167 thousand and 600), "Darkhan Nekhii" (MNT 997 thousand and 500) and "Gutal" (MNT 950 thousand).
The total market capitalization was set at MNT one trillion 540 billion 409 million 27 thousand and 40. The Index of Top-20 JSCs was 15,346.52, increasing 34.49 units or 0.23% against the previous day.
BoM MNT Rates: Monday, November 10 Close
October MNT vs USD, CNY Chart:
Altankhuyag Ouster a Credit Negative for Mongolia, Says Moody's
By Michael Kohn
Nov. 10 (Bloomberg) -- Ouster of Mongolian Prime Minister Altankhuyag Norov in a vote of no-confidence last week is credit negative, according to report by Moody's Investors Service.
* Removal of Altankhuyag adds a "high degree" of uncertainty for the passage of the government's 2015 budget and amendments to the country's Fiscal Stability Law (FSL) that would raise Mongolia's debt ceiling: Moody's
* 2015 budget seeks to include spending from off-budget sources, including the Development Bank of Mongolia, and subject spending to greater oversight: Moody's
* RELATED STORY: Mongolia in Limbo After PM Ousted in No-Confidence Vote
Mogi: looks like a major drawdown from banks
BoM issues ₮7.5 billion 1-week bills, total outstanding -39% to ₮309.1 billion
November 10 (Bank of Mongolia) BoM issues 1 week bills worth MNT 7.5 billion at a weighted interest rate of 12.0 percent per annum /For previous auctions click here/
Consolidated Loan Report of Banks - Quarter 3, 2014
November 10 (Bank of Mongolia) --
Mogi: DP caucus meeting this morning settled on 3 candidates, former PM R. Amarjargal, MP and acting cabinet secretary Ch. Saikhanbileg and D. Ganbat, chairman of the legal standing committee. Says to consult on these 3 candidates with the president before choosing, who returns APEC today. DP national consultative meeting will need to select the final nominee.
DP Expected to Elect New Chairman on December 8
November 10 (infomongolia.com) On November 07-08, 2014, the irregular 43rd Meeting of the National Consultative Committee of Democratic Party (DP) was held in the Government House behind the closed doors and following the two-day meeting as was expected to promote new Prime Minister of Mongolia, the DP Secretary General Mrs. Ts.Oyundari gave a press conference on November 09, 2014.
The Secretary General noted the DP Consultative Committee revised the current situation of resigned Cabinet used to chair by Premier N.Altankhuyag, who was dismissed by Parliament decision on November 05, 2014 and following the two-day meeting, the DP members consequently agreed to call the Party Assembly Meeting scheduled on December 08, 2014.
DP Secretary General Ts.Oyundari stressed that the National Consultative Committee of DP is authorized to raise a candidate for the Prime Minister of Mongolia and at the meeting it was decided to give this full privilege to incumbent Head of Democratic Party, MP N.Altankhuyag and other Parliamentarians.
After consideration, the DP Group at the Parliament will submit the names of new Cabinet members to the National Consultative Committee before December 08, 2014. Under this privilege, the DP Group members are entrusted to negotiate with other political forces having seats at the Parliament (State Great Khural).
Moreover, it was agreed to annul the Partnership Agreement established between the Head of DP N.Altankhuyag and the Head of MPRP N.Enkhbayar, which was signed last October 18th and brought a lot of conflicts among DP members.
According to DP regulations, the Prime Minister will be announced within 30 days and therefore, it was decided to meet again and announce new Prime Minister of Mongolia on December 08, 2014.
International Fly-Overs Through Mongolia Increase 8.1% YoY
November 10 (infomongolia.com) The Department of Air Navigation Service of the Civil Aviation Authority of Mongolia (CAA) received 74,403 requests from international and domestic flights of 48 air carriers to conduct flights over the territory of Mongolia between October 26, 2014 and March 28, 2015.
Accordingly, taking into account the requirements for the safety of flight, the CAA issued 70,264 permits, of which 61,853 are planned as regular international pass flights and 8,411 flights are preserved as a stand-by way.
Moreover, the regular landing and taking-off flights are estimated at 4,139, whereas for international 2,423 and for local air carriers at 1,716. Compare to 2013-2014 winter schedules, the regular international pass flights are increased by 8.1%, international landing and taking-off flights have increased by 5% and local by 5% respectively.
Khan Bank introduces ISO 27001:2013 standard on information security
November 10 (Khan Bank) Khan Bank, for the purpose of ensuring information security of its clients and partners, and integrity of its operation, has successfully established Information Security Management system /ISMS/ and received ISO/IEC 27001:2013 standard certification for the first time in Mongolia.
Khan Bank utilizes Information and Communication Technology widely for delivering comprehensive banking services to its clients via its 100% online network. Therefore, the bank started ISMS project in 2013 covering its all operations and information assets in the Head Office and Data Center of Khan Bank.
By establishing ISMS in accordance with the requirements of ISO/IEC 27001:2013 standard, the bank has many benefits including protection of its information and information assets from all types of external and internal threats, prevention and mitigation of risks related with information security for ensuring its continues operation.
International accreditor IRQS audited the Head Office and Data Center of Khan Bank for evaluating the bank's implementation of the requirements specified in the standard, and concluded that Khan Bank has fully satisfied the given requirements. IRQS accredited Khan Bank with the certification recognizing that the bank is the first organization to introduce new version of ISO/IEC27001:2013 standard in Mongolia.
Mongolia's dairy sector offers opportunity
November 6 (Oxford Business Group) Strong demand at home and abroad could prompt higher investment in Mongolia's dairy industry as the country strives to return to self-sufficiency in milk, as well as capitalise on export potential in the region.
Mongolia's agricultural industry remains key to the economy, with farming production accounting for 16.5% of GDP. Although it is gradually being supplanted by the mining sector, agriculture is the greatest single employer in the economy, representing 27.7% of the total labour pool, according to a recent report by the World Bank. The dairy and associated livestock segment is the greatest contributor to the sector, comprising around 50% of its workers and more than half its annual output in terms of value.
Traditionally the dairy segment has been a strong performer, with nomadic herding and traditional dairy-product making at the heart of Mongolian society. Self sufficient in milk production during the socialist era, the country suffered a downturn in the 1990s, due to a fall in state support and extensive livestock losses. Extreme climatic conditions at the turn of the century saw up to 30% of farm animals perish, including nearly all the dairy cows.
This loss in production capacity, combined with a lack of investment in processing technology in existing plants, saw the gap in supplies made up with imported materials.
Boosting investment and production
Under the 2007-16 National Dairy Plan the government set the target of boosting production capacity to meet 90% of domestic milk demand. While it is unlikely this goal can be achieved, with imports still necessary to bridge the supply gap, producers are looking for technological solutions, such as keeping products fresher for longer, and improving processing and quality, as well as local initiatives to promote small-scale, organic producers.
Investments could pay off in the medium term, as low domestic consumption rates offer an opportunity to develop the market, according to Ts. Erdenebileg, chief executive of mixed foods and beverages firm APU. "Mongolia needs to develop its capacity in industrial dairy farming, as the segment offers strong potential for growth. Annual dairy consumption in the country is 70 kg per person compared to more than 150 kg in more developed markets," he told OBG.
Further investment in the sector is needed to bolster existing infrastructure and improve output by raising food stock quality for cattle and developing higher quality breeding and quality control programmes, Erdenebileg said.
Organic milk production also poses an opportunity to create jobs in rural area, according to A. Tungalag, CEO of Darkhan Khuns JSC, a food producer, which provides grass and feed in exchange for fresh milk. "If more companies begin doing this, Mongolia can be self-sufficient in milk," he told OBG.
Mongolia is a nomadic country and products such as milk and meat are 100% organic, which creates a big opportunity given the shift of consumer preferences towards natural products. Indeed, the organic dairy market is expected to be worth $15.9bn by 2019, according to Transparency Market Research, rising from $11.16bn in 2012.
In Mongolia, the dairy segment has the potential to grow its exports market, particularly in neighbouring countries like Russia, said B. Gantulga, the CEO of dairy producer Suu.
"The eastern region of Russia suffers from a deficit in fresh milk," he told OBG. "If Mongolia were able to effectively develop its domestic production capacity, it could begin exporting considerable quantities of milk to the country."
Russia's current ban on agriculture and food imports from the EU, a response to recently imposed sanctions over Moscow's alleged involvement in military action in Ukraine, could also open doors for Mongolian produce.
Mongolia would be able to fill only a fraction of the $6.5bn gap created by the Russian ban on certain EU foodstuffs. But with dairy products among those covered by the bans, there could be a potential market opening up across the border. This opening was widened during the visit to Mongolia by Russian President, Vladimir Putin, in early September. Putin said there were significant opportunities for Mongolian primary producers to export meat and other animal husbandry products to his country, and that cooperation in agriculture among other fields could be stepped up.
4Life Celebrates Fifth Anniversary in Mongolia
Salt Lake City, Utah (November 7, 2014) Today marks the fifth anniversary of 4Life independent distributor activity in Mongolia.
The three-day celebration began with a Leaders' Forum on Friday that attracted 200 business builders in downtown Ulaanbaatar, the country's capital. Saturday's recognition celebration will be held at Ulaanbaatar's Independence Palace. More than 600 attendees will be onsite, including International Director Boldmaa Nyamdoo and Vice President of Communications Calvin Jolley—both visiting from 4Life Global Headquarters in Salt Lake City, Utah, USA.
Business builders attending the events included Mongolian Gold International Diamonds Oyunmaa Banzragch and Narankhuu Rinchinsangi, Singaporean Gold International Diamonds Nadzrul Salim and Nadirah Ahmad, Russian Gold International Diamond Dmitriy Isakov, and Russian President's Club member and International Diamond Marina Aryaeva.
Field leaders will dedicate Sunday's activities to service. Participants will visit a daycare facility for special needs children in Ulaanbaatar. While onsite, Foundation 4Life® will make a donation of $3,000 USD to the program.
Nyamdoo: "It's an honor to represent 4Life's executive team here in Ulaanbaatar for this fifth anniversary celebration. Distributors in Mongolia and throughout Eurasia remain committed to enhancing lives by sharing the 4Life products and opportunity with others."
4Life has offices on five continents to serve a global network of independent distributors through science, success, and service.
In 1998, 4Life Founders David and Bianca Lisonbee launched the company's flagship immune system support product, 4Life Transfer Factor®. As the first network marketing company to do so, 4Life's leading group of doctors, scientists, and researchers continue to advance immune system science with innovations in product formulation, production standards, delivery methods, and more. Today, people in more than 50 countries enjoy the immune system support of 4Life products.
4Life distributors around the world share the science of 4Life products, coupled with the opportunity to achieve financial success, with people who want to enjoy the benefits of a healthy lifestyle and a healthy income. Foundation 4Life®, the company's distributor-driven humanitarian arm, is committed to service activities that addresses community needs wherever 4Life conducts business around the world.
Every day, in every way, 4Life is Together, Building People through science, success, and service.
Presidents of Mongolia and China Meet in Beijing at APEC Summit
November 10 (infomongolia.com) On November 08, 2014, President of Mongolia Tsakhia ELBEGDORJ left for Beijing to attend the Asia-Pacific Economic Cooperation (APEC) Third Senior Officials meeting themed "Shaping the Future through Asia-Pacific Partnership" and this time President Ts.Elbegdorj is attending for the first time as a guest participant.
In the scope of the APEC Third Senior Officials meeting, President Ts.Elbegdorj attended the "Dialogue on Strengthening Connectivity Partnership", where he met with President of the People's Republic of China Xi Jinping in Beijing on November 08, 2014.
At the meeting, Ambassador Extraordinary and Plenipotentiary of Mongolia to the PR of China Ts.Sukhbaatar, Deputy Minister of Foreign Affairs and Economic Cooperation D.Gankhuyag, National Security and Foreign Policy Advisor to the President L.Purevsuren and other representatives from Mongolian side were present.
Representing the Chinese side, Director of the Policy Research Office of the CPC Central Committee Wang Huning, Secretary of CPC Central Secretariat, Chief of the General Office of the Communist Party Li Zhanshu, State Councilor of China Yang Jiechi, Foreign Minister of China Wang Yi and other officials have attended.
At the beginning, President Xi Jinping noted, "I am glad to meet Mr. President Elbegdorj, as old friends. Last August, upon the invitation of the President of Mongolia, I paid a state visit to Mongolia. Mongolia left its wonderful memories and lasting impression with me. Once again I thank you for your invitation.
I would like to thank you Mr. President Elbegdorj for attending the APEC's session under the theme "Dialogue on Strengthening Connectivity Partnership", upon my invitation. This is the fifth time I met President Ts.Elbegdorj, within this year.
Recently, I also met with the Speaker of the State Great Khural (Parliament) of Mongolia Z.Enkhbold. It fully shows the high-level of China-Mongolia bilateral relations. Together with President Ts.Elbegdorj we are ready to enhance the comprehensive strategic partnership between our two countries".
In response, President Ts.Elbegdorj said, "I am truly grateful to attend the APEC Third Senior Officials meeting upon your invitation. President Xi Jinping's visit to Mongolia is of vital historic significance and it left a great impression on the people of Mongolia. I am very glad to have this opportunity to meet with you Mr. President for the fifth time in 2014 to exchange views on bilateral relations as well as other wide range of issues. I am grateful for the people of China for successfully organizing a number of international events this year".
During the meeting parties exchanged views on the implementation of the works discussed during the President Xi Jinping's state visit to Mongolia and Mongolia-Russia-China trilateral meeting in Dushanbe, Tajikistan.
Both sides also discussed the joint coal gasification projects, expanding mutual partnership in infrastructure sector. Heads of state expressed their readiness to cooperate on the export of meat and meat products from Mongolia to China.
On November 09, 2014, President of Mongolia Ts.Elbegdorj received the Chairman of the Standing Committee of the National People's Congress of the People's Republic of China Zhang Dejiang.
At the meeting, Chairman Zhang Dejiang noted: "On behalf of the NPC Standing Committee, I express my gratitude to Mr. President Elbegdorj for attending the APEC Third Senior Officials. Last month, I held bilateral talks with the Speaker of the State Great Khural of Mongolia Z.Enkhbold and signed a Memorandum of Understanding on establishing permanent partnership mechanism between the State Great Khural and the NPC Standing Committee. We hope that by enhancing partnership between the top legislative bodies of Mongolia and China we will contribute to developing mutual cooperation in all sectors".
In response, President Elbegdorj said, "Thank you Mr. Zhang Dejiang, for welcoming us at the NPC Standing Committee. Our two countries are succeeding in developing intensively bilateral ties and collaboration in all directions. Last August, President Xi Jinping conducted a state visit to Mongolia and we agreed to enhance the comprehensive strategic partnership between our two countries. A comprehensive strategic partnership means the two countries will carry out comprehensive cooperation in all fields on the basis of mutual respect, equality and mutual benefit".
Presidents of Mongolia and China Meet – Montsame, November 10
President Meets Chairman of NPC Standing Committee – Montsame, November 10
President at APEC Meeting on "Dialogue on Strengthening Connectivity Partnership" – Montsame, November 10
First Lady Visits Beijing Museum – Montsame, November 10
Mongolia attends APEC summit – news.mn, November 10
Darkhan Aimag appreciates Kuwaiti support
KUWAIT, Nov 10 (KUNA) -- Governor of Mongolia's Darkhan Sh.Nasanbat on Monday commended Kuwaiti aid to his country, looking forward to further joint developmental projects which serve the governorate's residents.
"This statement came in the meeting between Darkhan's senior officials and Kuwaiti Ambassador to Mongolia Khaled Yateem Al-Fadhli, who paid a visit to the governorate upon an official invitation," said a press statement by Kuwaiti Embassy in Ulan Bator received by KUNA.
During the meeting, the Ambassador discussed with senior officials the ways of strengthening cooperation between the two countries, notably in the domain of developmental projects, it noted.
Ambassador Al-Fadhli paid a field visit to a number of facilities in the governorate, including Darkhan iron and steel factory, the country's largest one, and Darkhan leather factory.
Darkhan is Mongolia's third largest city and the capital of Darkhan-Uul Aimag. It is 100 km from the country's borders with Russia and it has a population of 100,000.
The governorate was established in 1961 to be the Mongolia's industrial city.
Blue Waves Lake Hovsgol Fundraiser a Success
By Byron Wilson
November 10 (Motorcycle USA) Earlier this year we profiled the efforts of the Blue Waves Campaign in securing motorcycles and gear to deliver to park rangers charged with patrolling and protecting Lake Hovsgol in Mongolia. We're thrilled to announce that the group was successful in raising funds and finding corporate partners to deliver 15 motorcycles and full, head-to-toe gear for the Lake Hovsgol rangers this past July.
Yamaha played a huge part, providing the 15 AG-200 off-road machines destined for duty in the Mongolian National Park. Yamaha also covered costs for a documentary film crew to follow the rally to deliver the bikes and gear in addition to providing technical support to the riders. Yamaha also committed to providing on-going maintenance to the machines going forward. Merrell Outdoor Clothing supplied the gear.
The effort was such a resounding success that the Blue Waves group is now organizing its second rally, a campaign to deliver 20 Yamaha motorcycles to rangers in the Taiga region of Northern Mongolia. Yamaha Japan has signed on to partner with the Mongolian Ecology Center, one of the organizations that launched Blue Waves last year, to continue rallies such as these for the next five years.
Fundraising for the next Rally for Riders is now underway. Check the updated Blue Waves Mongolia website to learn more about how to donate. For those intrepid souls eager to join the ride there's an option to register for the next adventure, though space is extremely limited.
If you're in the Bay Area and want to meet some of the riders from 2014 and hear more about upcoming events, head to the Blue Waves Mongolia Shopping Party and Film Festival at Sports Basement, 610 Old Mason Street in San Francisco on November 15, 2014 from 3:00 to 6:00 pm. Admission is free. Click here to RSVP.
Finally, the Blue Waves Campaign has created two short films, one a brief documentary called "Rally for Rangers 2014" which recounts the 1200-mile adventure to Lake Hovsgol, the other a profile of the life of a ranger called "Sons of Taiga." Both are included below courtesy of the Mongol Ecology Center YouTube page.
Link to article (includes videos)
6th Floor, NTN Tower
Baga Toiruu, Chingeltei District 1
Ulaanbaatar 15170, Mongolia
P Please consider the environment before printing this e-mail.