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Tuesday, April 21, 2015
Headlines in Italic are ones modified by Cover Mongolia from original
Mogi: a relatively minor but essential hurdle for OT project financing
MIGA and the Government of Mongolia Commit to Further Collaboration
Agreements will Facilitate Private Sector Investment into the Country
Washington, DC, April 20, 2015 (MIGA)—The Government of Mongolia and the Multilateral Investment Guarantee Agency (MIGA), the political risk insurance and credit enhancement arm of the World Bank Group, signed important legal agreements during the spring meetings of the World Bank Group that will facilitate MIGA's ability to insure foreign direct investment into the country.
At a signing ceremony held on Saturday, His Excellency Jargaltulga Erdenebat, Minister of Finance, said, "We appreciate MIGA's commitment to help Mongolia bring much-needed foreign direct investment into the country and we look forward to fruitful collaboration."
Keiko Honda, MIGA Executive Vice President and CEO, noted "These important agreements pave the way for us to support private sector investment that will help Mongolia diversify its economy and contribute to the country's infrastructure development."
The parties discussed a number of areas where MIGA could potentially support foreign investments, including the energy and financial services sector.
Turquoise Hill Announces First Quarter 2015 Production
VANCOUVER, BC--(Marketwired - April 20, 2015) - Turquoise Hill Resources today announced the first quarter 2015 production for Oyu Tolgoi.
Concentrate production in Q1'15 decreased approximately 30% over Q4'14. Production was impacted by lower mill head grades as well as a planned shutdown to reline both SAG mills and undertake modification and improvement work. The shutdown was completed on time and with no injuries.
Material mined in Q1'15 increased approximately 16% over Q4'14 mainly due to improvements driven by a range of productivity initiatives in the open pit partially offset by longer haul distances.
Head grades declined in Q1'15 as high-grade material from the open pit was largely processed in Q4'14. Open-pit development for 2015 is proceeding to schedule with higher-grade material expected to be processed by the concentrator starting in Q2'15. Concentrator milling rates increased through Q1'15 as improvements started to take effect, particularly in the pebble crushing circuit.
As previously disclosed, the Company expects production distribution to be relatively similar to 2014, with production levels significantly higher in the second half of 2015. Based on the current mine schedule, Oyu Tolgoi is expected to produce 175,000 to 195,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates in 2015.
Concentrate sales in Q1'15 exceeded production, despite slowing during the Lunar New Year when border and customs operations were closed for an extended period.
Open pit material mined ('000 tonnes)
Ore treated ('000 tonnes)
Average mill head grades:
Concentrates produced ('000 tonnes)
Average concentrate grade (% Cu)
Production of metals in concentrates:
Copper ('000 tonnes)
Gold ('000 ounces)
Silver ('000 ounces)
Concentrate sold ('000 tonnes)
Sales of metals in concentrates:
Copper ('000 tonnes)
Gold ('000 ounces)
Silver ('000 ounces)
Metal recovery (%)
Rio Tinto releases solid first quarter production performance – Rio Tinto, April 20
OT-Erdenet Sign MOU, Speaker Declares Underground Issues are Being Resolved
April 20 (GoGo Mongolia) Today, the Speaker of the Parliament Z.Enkhbold participated in the signing ceremony of Memorandum of Cooperation between Oyutolgoi LLC and Erdenet Mining Corp.
General Director of Erdenet Mining Corp. Ts.Davaasuren and President and Chief Executive Officer of Oyutolgoi LLC, Andrew Woodley signed Memorandum of Cooperation which is to improve conditions of health, safety and environment and local communication standard and to develop Mongolian mining sector.
The Speaker of the Parliament Z.Enkhbold said: "During the meeting with the management of OT, I said, "Erdenet Mining Corp. is not competitor, they are partner as products of Erdenet Mining Corp. are sold on the market with no problems. Therefore, it would be appropriate to cooperate with Erdenet Mining Corp." Today, they are signing a memorandum of cooperation. They both produce concentrate and operate similar activities. Purchases of Erdenet Mining Corp. from Mongolia and their assortment of products have increased year by year. They are ready to share that experience with OT. OT has more advantage than Erdenet Mining Corp. too. Thus, they are cooperating on not only health, safety, environment and community relations but also many direction. Moreover, OT is responsible for constructing a city with the popultaion of 15.000. Underground mining problems are being solved thus, this work should be done soon."
MMC closed +4.55% Monday to HK$0.345 on Shenhua coal sale deal
MMC: Annual Report 2014
April 20, Mongolian Mining Corp. (HKEx:975) --
Management Discussion and Analysis
In 2014, the coking coal markets experienced another year of continuing price decline amid the oversupply situation faced by the global industry. As a result, certain number of coal producers in Australia, United States of America and Canada, and also several Chinese coal producers have announced substantial cuts in their production output.
A large number of global coal producers have sought to offset the impact of lower international coal prices by maximising their production rates in an effort to lower their per unit cash cost of production, reducing manpower and outsourcing services. In addition, weakening local currency against USD and also slump in oil prices may offer room to some producers to lower cost base and take opportunistic competitive advantage. At the same time, many coal miners have optically lowered their production cash costs by mining less waste and more coal, effectively high-grading their resources and reserves. All of the above was accompanied by delaying investment in coal mining projects development and exploration expenses. Such cost-cutting measures may have worked in short term, but they cannot be maintained indefinitely as eventually in the long term mine productivity will fall and the supply side will be impacted by reduced coal resources and reserves available for commercial production under current market conditions. According to industry research reports, this will ultimately lead to a more balanced equilibrium between supply and demand, with expected improvements in pricing in mid to long term.
The sustainable improvements in operational efficiency and optimisation of productivity are integral parts of the Group's management objectives and a key component in its long-term strategy to establish itself as a reliable supplier of high quality coking coal products to end-user customers. While the continuous cost reductions were achieved, price continued to decline. For example, in 2011 the Group's ASP of HCC under DAP GM terms was USD155.6 per tonne, declining to USD108.4 per tonne in 2012, USD92.1 per tonne in 2013 and further to USD69.3 per tonne in 2014.
Therefore, the management has focused its efforts on preserving liquidity and balance sheet management. The steps taken by the Group in 2014 include: (i) divestment of certain non-core assets (ii) refinancing by renegotiating terms and extending the maturity for existing loan facilities, and (iii) attracting additional funding to strengthen capital base.
On 29 December 2014, the Company successfully completed the Rights Issue which raised approximately Hong Kong Dollar ("HKD") 1,556 million. Pursuant to the Rights Issue, a total number of 5,557,554,750 rights shares were issued at the subscription price of HKD0.28 per rights share on the basis of three rights shares for every two existing shares. The Rights Issue received overwhelming support from its existing shareholders with excess rights subscribed representing approximately 247.1% of the total number of rights shares available for subscription under the Rights Issue. The transaction not only highlights the Group's committed long-term shareholder support but also strengthened the Group's capital base in the current state of the market.
In line with its strategic objectives, the Group has implemented a number of initiatives to penetrate inland markets within China. The Group entered into a joint venture agreement with Risun, a member of Risun Group (the largest independent coke and related coal-derived chemicals producer and supplier in China), to establish Tianjin Zhengcheng Import and Export Trade Co., Ltd ("TZ JV"), a subsidiary of the Company registered in China, for transportation, sales and distribution of coal products. This is expected to facilitate the increase of geographical market penetration in major steel and coke producing regions in China, namely Hebei and Shandong provinces.
Moreover, in line with the Group's development objectives and its vision to build a globally competitive business platform, the Company has participated in the bidding process re-launched in August 2014 by the GoM for Tavan Tolgoi coalfield development. The Group was able to form and lead the Consortium. The Group believes that the unique features of the Consortium, creating competitive advantages contributed by each Consortium member, were a key to its success in this bidding process. The Consortium has been invited for negotiations with the GoM regarding the terms and conditions and no definitive agreements have been concluded as of the date of this report yet.
MMC: Notice of Annual General Meeting, 29 May, Hong Kong
April 20, Mongolian Mining Corp. (HKEx:975) NOTICE IS HEREBY GIVEN that the annual general meeting (the "Meeting") of Mongolian Mining Corporation (the "Company") will be held at Aberdeen Room, Level 3, JW Marriott Hotel Hong Kong, Pacific Place, 88 Queensway, Admiralty, Hong Kong on Friday, 29 May 2015 at 10:00 a.m. for the following purposes:
1. To consider and adopt the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and of the independent auditor for the year ended 31 December 2014.
2. To re-elect Mr. Odjargal Jambaljamts as executive director of the Company.
3. To re-elect Dr. Oyungerel Janchiv as non-executive director of the Company.
4. To re-elect Mr. Gankhuyag Adilbish as non-executive director of the Company.
5. To re-elect Mr. Chan Tze Ching, Ignatius as independent non-executive director of the Company.
6. To authorise the board (the "Board") of directors (the "Directors") of the Company to fix the remuneration of the Directors.
7. To re-appoint KPMG as auditor of the Company and to authorise the Board to fix their remuneration.
8. To consider and, if thought fit, pass, with or without amendments, the following resolution as an ordinary resolution:
Mongolia Growth Group Ltd. Updates Corporate Presentation And Shares Tuguldur Construction Video
Toronto, Ontario (FSCwire) - Mongolia Growth Group Ltd. (YAK - TSXV and MNGGF - USA) ("MGG") or ("the Company") a commercial real estate investment and development company participating in the dynamic growth of the Mongolian economy is pleased to announce that it has posted its recent corporate presentation on its website at the following http://mongoliagrowthgroup.com/wp/wp-content/uploads/April-20-2015-Corporate-Presentation.pdf.
In addition, the Company has created a video showcasing the success of its Tuguldur Stage 1 development program. That video is available at the following https://www.youtube.com/watch?v=plwLBfzEqFQ.
KWC.H last traded C$0.10 on May 22, 2014
Jeremy Edelman exercises warrants of Knowlton Capital increasing stake to 20.95%
MONTREAL, April 20, 2015 /CNW Telbec/ - Jeremy Edelman announces that he has acquired an additional 1,400,000 common shares of Knowlton Capital, representing 3.01% of the issued and outstanding common shares of Knowlton Capital, at a price of $0.05 per share following the exercise of 1,400,000 common share purchase warrants (the "Warrants"), for total proceeds of $70,000.
Immediately following the exercise of the Warrants, Jeremy Edelman directly and indirectly owns 9,756,495 common shares of Knowlton Capital, representing approximately 20.95% of the issued and outstanding common shares of Knowlton Capital.
Mr. Edelman, who is resident in Monaco, acquired the Knowlton Capital common shares for investment purposes, and in accordance with applicable securities laws, Mr. Edelman may, from time to time and at any time, acquire additional common shares of Knowlton Capital and/or other equity, debt or other securities or instruments of Knowlton Capital in the open market or otherwise, and he reserves the right to dispose of any or all of his Knowlton Capital securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of Knowlton Capital and other relevant factors.
MSE News for April 20: Top 20 -0.51% to 13,077.01, Turnover ₮13.1 Million
Ulaanbaatar, April 20 (MONTSAME) At the Stock Exchange trades on Monday, a total of 43 thousand and 027 units of 17 JSCs were traded costing MNT 13 million 118 thousand and 237.10.
"Remikon" /19 thousand and 059 units/, "Hermes center" /10 thousand and 400 units/, "Olloo" /10 thousand units/, "BDSec" /1,607 units/ and "APU" /891 units/ were the most actively traded in terms of trading volume, in terms of trading value were "APU" (MNT three million 153 thousand and 300), "BDSec" (MNT two million 812 thousand and 250), "Remikon" (MNT one million 429 thousand and 822), "Hermes center" (MNT one million and 352 thousand), "Sharyn gol" (MNT one million 210 thousand and 900).
The total market capitalization was set at MNT one trillion 297 billion 217 million 284 thousand and 665. The Index of Top-20 JSCs was 13,077.01, decreasing 0.51% and the all index of MSE was 953.44, decreasing 0.31% against the previous day.
BDSec Market Watch Episode 33, April 20
April 20 (BDSec) --
MSE Weekly Trading Report: MSE ALL -0.97%, ₮76.9 Million Stocks, ₮247.4 Million T-Bills
April 20 (MSE) Mongolian Stock Exchange organized 5 securities trading sessions and made transaction of MNT327.7 million between 13 April 2015 and 17 April 2015.
156,461 shares of 41 joint stock companies worth of MNT 76,857,862.70 were traded.
MOST ACTIVILY TRADED SECURITIES
MOST ACTIVE BROKERAGE COMPANIES IN SHARE TRADING
Government retail bonds trading:
2,652 Government retail bonds worth of MNT247,358,708.00 were traded through one trading session.
MOST ACTIVE BROKERAGE COMPANIES IN GOVERNMENT SECURITIES TRADING
As of 17 April 2015, market capitalization was MNT 1,299,801,742,842.00 which indicated decreases of 2.25%, and MSE ALL index reached 956.44 units which indicated decreases of 0.97% from the previous week.
Bi-Weekly MSE Market Makers Report
April 20 (MSE) Regarding the "Market Makers" introduction into securities market by Mongolian Stock Exchange /MSE/, MSE will publish two weeks Market Makers performance report to the public.
As of 15 April 2015, total of 362 order of the Government retail bonds have been planned to submit and performance of Market Makers shows following results "BDSec"-29%, "Standart Investment"-51.9% and "Tenger Capital"-23.8%
MSE: 27 Brokerages Fail to Pay Annual Membership Fees Before Deadline
April 20 (MSE) According to the Article No.: 7.1.3, 7.1.4 of "Membership Regulation" of Mongolian Stock Exchange, securities member company shall pay annual membership fee and supply of service fee within first 10 days in every quarter. There are 27 securities companies that failed to follow their obligations.
If securities company that failed to follow obligations that stated in the Article No.: 4.4 of "Partnership Agreement", based on provision No.: 232.6 of "Civil Law of Mongolia", 0.5 percent of the daily value in every overrun days will be deducted as a undue loss. MSE is warning that the rights to participate trading will be suspended from 10 May 2015 for those securities companies.
List of securities companies that failed to follow obligations:
1. ABGYa LLC
2. I Trade LLC
3. Argai best LLC
4. Baga Kheer LLC
5. Bats LLC
6. BBSS LLC
7. Black Stone LLC
8. Bulgan Broker LLC
9. Global Asset LLC
10. Goviin Noyon Nuruu LLC
11. DCF LLC
13. Delgerkhangai LLC
14. ZGB LLC
15. Zous Capital LLC
16. Lifetime Investment LLC
17. Mongol Securities LLC
18. Monet Capital LLC
19. Novel Investment LLC
20. National Securities LLC
21. Prevalent LLC
22. Sanar LLC
23. Tavantolgoi Khishig LLC
24. Finance Link Group LLC
25. Frontier LLC
26. Hunnu Empire LLC
27. FCX LLC
BoM MNT Rates: Friday, April 17 Close
MNT vs USD (blue), CNY (red) in last 1 year:
Mongolia Raises Bank Minimum Capital Requirement to 50b Tugrik
By Michael Kohn
April 20 (Bloomberg) -- Bank of Mongolia has raised minimum capital requirement for commercial banks to 50b tugrik ($25.4m), central bank says in statement.
* NOTE: previous minimum capital requirement was 16b tugrik
* Decision made according to governor's resolution on April 1, according to statement released on Friday
* All banks must be compliant by Dec. 31, 2017: statement
* Policy implemented to mitigate potential risks during economic hardship, improve banking sector risk tolerance and ability to absorb shocks: statement
* Decision is necessary when economy is expanding; will improve financing for big projects and enhance financial sector resilience, Bold Sandagdorj, Bank of Mongolia chief economist, says by phone
* Related story: Mongolia Non-Performing Loans Rise 18.3% Y/y: Statistics Office
BoM issues ₮92 billion 1-week bills, total outstanding +2.3% to ₮246.3 billion
April 20 (Bank of Mongolia) BoM issues 1 week bills worth MNT 92 billion at a weighted interest rate of 13.0 percent per annum /For previous auctions click here/
Mongolia Maintains #61 Rank in 2015 WEF Networked Readiness Index
April 15 (WEF) --
Mongolia's Geographic Challenge
June 4, 2012 (Stratfor) Stratfor explains how Mongolia's geographic isolation, lack of sea access and strong neighbors have affected its development.
For more, please visit http://www.Stratfor.com
IMF Managing Director Lagarde Answers Question by Jargal DeFacto on Mongolia's Borrowing Rights
April 16 (IMF) --
Global growth remains moderate, with uneven prospects across the main countries and regions. Among advanced economies, while growth has become more robust in some, such as the United States, the legacies of the pre-crisis boom and the subsequent global financial crisis continue to cast a shadow on the recovery in others. In particular, Japan and the euro area are still struggling with weak investment, low inflation, and subdued growth. In emerging markets, negative growth surprises for the past four years have led to diminished expectations regarding medium-term growth prospects. Overall, the world needs to aim higher and try harder. This means bolder policies on all fronts—monetary, fiscal and structural—to inject a 'new momentum'. The interview will focus on concrete steps policy makers can take to jumpstart growth and overcome the 'new mediocre', taking into account the differing circumstances among countries. #GlobalEcon
Link to full interview, Q&A (Mongolia Q from 37:10) --
2014 income declarations of state officials made public
April 20 (news.mn) Income declarations of state officials for 2014 has become transparent to the public. The National Anti Corruption Center has collected and published declarations. Since 2012, 239 officials have submitted their declarations to the public, and in 2014 the number of officials increased to 244.
It is common knowledge that most of the major Mongolian companies are owned in part or full by Members of Parliament. However, MPs S.Demberel, S.Ganbaatar, G.Bayarsaikhan, ZBayanselenge, L.Tsog, N.Nomtoibaatar, Ya.Sanjmyatav, and Kh.Temuujin do not hold any shares in major commercial interests.
Ts.Oyungerel was among the MPs without major stake in business, but she took on 30 percent ownership of Coolpro LLC in 2013. From the declaration reports it is clear that many MPs own stake in several companies, with an average of stake in one to five companies.
From the report comes a list of MPs who own companies with statutory funds equal to 6 billion MNT or more. MP B.Narankhuu, from Dundgobi, owns 27 companies, but the statutory fund of all these companies is only 66.2 million MNT.
MP B.Choijilsuren has 27 companies' wit statutory funds of 1.5 billion MNT. MP G.Batkhuu owns 21; D.Zorigt 15; Kh.Battulga and D.Terbishdagvaa own 13; S.Byambatsogt 12; O.Sodbileg 11; Symyabazar 10; and M.Enkhbold, R.Amarjargal, Ts.Dashdorj, and D.Gankhuyag own eight companies. Ya.Sodbaatar, D.Bat-Erdene, M.Batchimeg, and L.Erdenechimeg each have six companies.
There are 20 Members of Parliament who own shares valued at more than 1 billion MNT.
This list is headed by G.Batkhuu of APU. His statutory fund is at 72.6 billion MNT. Last year he owned capital of 46.2 billion MNT in 24 companies. Although he dissolved three companies in one year, his capital has increased by 26.4 billion MNT.
MP Odontuya proposes raising quota for women political candidates
April 20 (news.mn) One important issue stressed during the presentation by Member of Parliament S.Odontuya at the national forum on "Women's Development and Participation" was the participation of women in the political decision making process.
Sixty percent of graduates of universities and institutes in Mongolia are women, but only 30 percent of mid-ranking managers are women and only 15 percent of high-ranking managers are women.
One recent study showed that 70 to 80 percent of the work load in Mongolia sits on the shoulders of women. When women polled in the study were asked if women's involvement in decision making was insufficient, 86.2 percent answered yes.
"In order to include women in the decision making process, we need to raise the quota of women nominees to 30 percent," MP S.Odontuya said during her presentation.
The national level of unemployment among women is now 6.6 percent. Among employed women, 55 percent are private entrepreneurs who aren't included in state social insurance and other compensation provided by the state.
There are also salary discrepancies for women, with male employees receiving higher salaries than their female counterparts. Participants in the national forum stressed that the government should put more attention on policy concerning the wage gap.
Concluding the forum, participants appealed to Parliament to discuss and approve the new draft law regarding families and domestic violence, the election law, to approve and implement articles about gender equality in the law on political parties, and to tighten up responsibility for violence against women and children.
In their appeal to the government, participants said the issue of gender equality should be addressed through legislation, and that each article of the gender law should address equality at economic, political, social, and cultural levels and be discussed by Parliament. They also called for the planning of real measures dedicated to the improvement of living conditions for women and for government to organize implementation of those measures.
Political parties were called on to have 50 percent of their nominees for Parliament and local area elections be made up by female nominees.
D.Sainbayar Appointed as Personal Aide to the President on Foreign Policy
April 17 (President.mn) On 7 April, Mr. Davaabat Sainbayar has been appointed as Personal Aide to the President of Mongolia for Foreign Policy. He was born in 1981, in Ulaanbaatar. In 2005, he graduated from DeVry University Chicago with a BS degree in information systems and has attended master's degree program at DePaul University majoring in MIS. Furthermore, Mr. Sainbayar has taken management courses at Columbia Business School in New York and Singapore Institute of Management respectively.
D.Sainbayar worked as a systems analyst and applications developer at the Kennedy Group and FAW in the United States from 2005-2008; and Head of Marketing and Business Development at Media Group from 2008-2010. While working as Vice president and General manager at Monnis Group between 2010 and 2015, he also served as CEO of Monnis subsidiaries including Energy Corp, Monnis Urban Development and EPTM companies respectively.
He has co-translated several books including "The World is Flat" by Thomas L. Friedman, the Britannica Encyclopedia by Nepko Publishing and "Surviving the Dragon" the memoire by Arjia Rinpoche. D.Sainbayar previously appointed as non-staff Advisor to the President of Mongolia since 2013.
Training held by UNDP for parliament journalists
Ulaanbaatar, April 20 (MONTSAME) With a support from the Swiss Agency for Development and Cooperation (SDC), a training themed "Parliament and journalists' participation in strengthening civil relations" was held last Saturday.
Held in frames of a project on supporting the legislation actions with civil participation, co-realized by the Parliamentary Office and the UNDP, the action involved some 80 journalists from TV channels, daily newspapers and websites. They got acquainted with the projects on supporting the legislation actions and on strengthening local self-governance bodies. They also heard reports about a legal environment for regulating the parliamentary actions and plenary meetings, actions and functions of the ethics council of media and professional ethics of journalists.
Other reports were given by Kh.Nomingerel, a coordinator of the "Supporting the legislation actions with civil participation" project; Sh.Sodnomjamts, a media expert at the Parliamentary Office; B.Dulamkhorloo, a journalist from Bloomberg TV Mongolia channel; and L.Onorjargal, a coordinator of the "Maximizing women's participation in politics" project.
Others were at the training O.Enkhtuvshin MP; B.Boldbaatar, a general secretary of the Parliamentary Office; and S.Lambaa, a chief advisor to the Speaker.
Video-conferencing equipment being installed in parliament meeting halls
April 20 (gogo.mn) The Parliament Office installed video conferencing system in several halls of Parliament House in order to ensure advanced technology to the operation of State Great Khural.
The first online meeting was held in last week. Member of Parliaments were allowed to connect with locals by video conferencing system.
The system is being installed in meeting halls of Standing Committees, the President and the Speaker of the Parliament. Further, it will be connected with local councils.
April 20 (Singapore Press Holdings Limited via APIP) VAST but sparsely populated Mongolia is wooing Singapore investors as the country awakens its sleeping giant – the construction and real estate sector.
The landlocked country, about the size of Alaska, is home to more than 2.8 million people, with nearly 40 per cent in the capital Ulaanbaatar.
Robust demand for affordable and luxury housing surpasses supply. Only 25 per cent of Mongolians live in residential apartments. The rest live in traditional nomadic "Ger" districts.
Mongolian Minister for Construction and Urban Development Tsogtbaatar Damdin said the nation aims to attract Singaporean investment and expertise, as the capital undergoes rapid urbanisation to accommodate its urban population. He was addressing Mongolian and Singaporean representatives from the sector at a roundtable meeting held at the Lee Kuan Yew School of Public Policy yesterday.
He viewed the oft-overlooked real estate and construction sector as the economy's "shock absorber", given the cyclical nature of the country's mining sector.
Mr Damdin said the construction sector is clearly market-driven. Even though the government began focusing on this sector only in 2013, construction work has increased by 2.5 times from 2010 to 2012.
Investors should also consider Mongolia's rapid and sustained growth, coupled with politico-economic stability, he added.
However, he listed various challenges, namely a contraction of resources needed to support urbanisation. One Mongolian representative also said harsh winters restrict construction to the March to October period.
Yet, these issues have not prevented the sector from thriving.
Mongolia's industry representatives noted that the country's first real estate investment trust is under way. The Mongolian National Construction Association has also raised over US$15.2 million (S$20.6 million) for sector developments, and intends to list on the Singapore Exchange.
Mr Mark Lee, director at Singapore-based Wellspring Investments, expects his firm to do well when it launches its first Mongolian development in June, even as the tugrik's depreciation reduces residents' purchasing power.
Mr Andrew McGregor, chief financial officer of Mongolia-based Asia Pacific Investment Partners, urged investors to act fast. "In my mind, the recent exchange rate weakness presents a really good buying opportunity for foreigners."
The majority of Mongolians live in traditional nomadic "Ger" dwellings (above), circular structures lined with layers of felt and canvas. At present, only 25 per cent of the population live in apartments. — PHOTO: AGENCE FRANCE-PRESSE: firstname.lastname@example.org
International Arbitration: An Introduction to Law and Practice Workshop, May 13-15
Zamyn-Uud Investment Forum to take place on April 25
April 20 (infomongolia.com) The Ministry of Industry and the Administration of "Zamyn-Uud" Free Trade Zone are organizing an "Investment Forum 2015" in Zamyn-Uud Sum of Dornogovi Aimag on April 25, 2015.
The Forum is aimed to introduce current activities, attract investors and hold discussion on future development of the zone.
At the event, Minister of Industry D.Erdenebat, Minister of Construction and Urban Development D.Tsogtbaatar as well as other officials and foreign and local investors are to attend the Forum.
The "Zamyn-Uud" Free Economic Zone was established in 2004, which covers about 900 ha between Zamyn-Uud Sum and the Chinese border.
10 Korean firms to attend Mongolia-Korea Business Meeting in UB, April 21
April 20 (infomongolia.com) In the frameworks of bilateral broadening cooperation, business delegates from South Korea have arrived in Ulaanbaatar to participate in Mongolia-Korea Entrepreneurs Meeting to take place at Chinggis Khaan Hotel on April 21, 2015.
The event is organized by Mongolian National Chamber of Commerce and Industry (MNCCI), where representatives of 10 firms from South Korea will be introducing their products and services as well as to seek collaboration opportunities.
These companies are:
· SYNGJIN CHEM - dishes, fruits & vegetables detergents and liquids, laundry and washing machine detergents
· SAEROM COSMETICS LUVSKIN - cosmetics, hair and body care products
· DSB - skin care products and cosmetics
· SUNRISE FAMILY - anti-wrinkle, moisturizing mask, skin, hair and body care products
· KOREA HOT FIX - various tents, aluminum frames and connectors
· RENEW MEDICAL - dental treatment materials, products & equipment
· MIRICO - gas leak detecting device
· J & J - food packaging materials
· SENKO - gas prevention sensors
· ELD - children's folding bath & supplies
Mongolia: A Land of Opportunities
Cityscape Magazine, April 2015
Link to magazine (Mongolia pages 38-40)
EBRD Procurement Notice: Feasibility Study for Ulaanbaatar Solid Waste Modernisation Project
8 May 2015
20 April 2015
DB REFERENCE Nº:
Borrower/Bid No: 46317
Invitation for expressions of interest (CSU)
Ulaanbaatar Solid Waste Modernisation Project - Feasibility Study
Business sector: Municipal and environmental infrastructure
Project number: 46317 Funding source: Japan-Europe...
Ulaanbaatar trial-launching smart buses this week
April 20 (infomongolia.com) In 2014, Ulaanbaatar City Governing Administration announced to introduce a "Smart Bus" project, where the tender was won by Mongolia-South Korea's "Data Card Consortium" joint company.
Accordingly, Mayor of Ulaanbaatar E.Bat-Uul inked the Cooperation Agreement with executors on September 20, 2014 and in the scope of implementation of the project, the first "Smart Buses" attached a ticket reader will be put into operation under experimental period from April 23, 2015.
At the first phase, 30 smart buses were chosen in the routes of "T-3, III-IV khoroolol – BMMZ", "M-13, III-IV khoroolol – Sharkhad" and "M-51, Misheel Expo – SBD 2-r khoroo".
These buses will not only equipped with gadgets to read smart cards and print tickets, but also equipped with GPS and screens to display and acquaint next stops, schedules and other info.
Korean National Assembly Speaker Receives Visiting Mongolian MPs
Ulaanbaatar, April 20 (MONTSAME) Within a visit to the Republic of Korea, members of the State Great Khural (parliament) G.Batkhuu and L.Bold were received last Friday by Mr Jeong Ui-hwa, the Chairman of the National Assembly of the country.
The parliamentarians granted to Mr Jeong a letter from Z.Enkhbold, the Speaker of Mongolian parliament. In the letter, Mr Enkhbold congratulated Mr Jeong, members of the National Assembly and officials of the Parliamentary Office on the 25th anniversary of the bilateral diplomatic relations, and expressed a satisfaction with an intensive development of the Mongolia-S.Korea relations based on the comprehensive partnership principles. Moreover, the Speaker said in the letter that the state of Mongolia attaches a great importance to this anniversary.
The parliamentarians exchanged views with Mr Jeong on the inter-parliamentary ties and cooperation, and an economic development of both countries.
Vice Defense Minister meets chargé d'affaires of UK Embassy
Ulaanbaatar, April 20 (MONTSAME) On Friday, the Vice Minister of Defense A.Battor met Mr Andrew Allen, the Charge d'affaires of the UK Embassy in Mongolia, and Ms Louise Edwards, the third secretary of the Embassy.
He is glad to meet the British diplomats, he said and exchanged views with them on a present situation of the Mongolia-UK cooperation in the defense field and on developmental tendencies of the collaboration.
Another agenda the sides touched upon was a matter on propagandizing the polo sport in the Mongolian Armed Forces (MAF) this May. As the said, a training a polo team must be formed which will help in developing this sport here. Then they reached some concrete agreements.
The parties concurred to organize a visit of the Mongolian polo team to the UK this July.
Development of Kyrgyz-Mongolian cooperation in disaster management discussed in Bishkek
Bishkek, April 20 (AKIpress) - Minister of Emergency Situations Kubatbek Boronov and Consul General of Mongolia Enkh Amgalan Battsengel discussed issues of Kyrgyz-Mongolian cooperation in preventing and dealing with emergencies.
During the meeting held last week in Bishkek, the Kyrgyz Minister briefed about the ongoing work on prevention of emergency situations and liquidation of their consequences, activities of the Emergencies Ministry's structures, projects implemented together with international organizations in the field of disaster risk reduction and plans for the future.
"Development of relations today is a good prerequisite for expanding and enhancing cooperation in all areas between the two countries, including in the field of prevention and liquidation of emergency situations," said Boronov.
In turn, Enkh Amgalan Battsengel expressed his interest in developing cooperation in the field of radiation safety.
Earlier, heads of emergency agencies of Kyrgyzstan and Mongolia had agreed to sign a memorandum of understanding.
Mongolia's Third Neighbour Policy
By Philip Horey, Foreign Affairs Editor
April 12 (Darrow) The economy of Mongolia has been growing steadily in recent years, and has an abundance of natural resources ready to exploit. The government supports freedom of religion, since the fall of Communism in 1990, which is predominantly Buddhism (60%), and Atheism (25%). Internationally, the country has a lot of potential, especially for a comparatively small population of around 3,000,000 despite being the 19th largest country in terms of land mass. Despite this, it remains a third world country, with the majority of families living in poverty or as nomads.
Its history has always been turbulent from being on the outskirts of dynastic China before 2000BC to its more recent assimilation by Communism and subsequent peaceful revolution overthrowing the Mongolian People's Republic in 1990. Since then, it has been enjoying far better relationships with its neighbours and with the international community.
However, for a small nation sandwiched between two of the worlds most influential and powerful countries, it has a lot of pressure to cope with – especially given that both nations have at some point been in control of Mongolia.
The main mineral wealth of coal, copper, and gold attracts a lot of foreign investment who are able to provide the funds required to properly exploit these resources in a way that would simply not be possible by the country itself at this time. This puts Mongolia in an undesirable position. Should they encourage foreign investment at the risk of selling out and allowing foreign powers to dominate control of their natural resources?
This may not be in the best long term interests of Mongolia. On the other hand, they face the prospect of missing out on the proceeds from this exploitation now, when the wealth may be of more immediate use.
It is easy to imagine how reluctant a proud country with such an illustrious past could feel, bullied by overbearing neighbours, to secede control of a primary asset. For the most part however, its relations with China and Russia are generally cordial. This leads us to what has become known as Mongolia's Third Neighbour Policy.
In essence, it is designed with the intention of increasing diplomatic ties to other neighbouring countries in the East. This means a preference for more diversity in its trade and foreign relations, bringing a greater stability to the country. This is also one of the most certain way of ensuring both the political and economic independence of the country.
For a country that is so heavily reliant on its neighbours this is essential. Being a landlocked country, the only access to shipping and ports is through China. The majority of oil in Mongolia is Russian. So will this policy put their lifelines at risk?
I find this unlikely. It is easy to view this arrangement in a negative light, but the bottom line is that stability in the region is beneficial to all concerned and conflict is unlikely to arise because of it. Every country has the right to freely negotiate internationally and it is likely that both Moscow and Beijing are sympathetic to the strain felt by their buffer state.
This being said, the Mongolians realise the necessity of maintaining good relations with their immediate neighbours. In the worst case scenario, imagine a future where their relationship with China or Russia deteriorates to the point of hostilities. Would the western powers be either able, or even willing to intervene? I find it regrettably unlikely. Increasing local diplomatic ties would seem a more realistic option.
While Mongolia is open to negotiations with any country, including the west, the predominant focus of this policy is with nations such as Japan, South Korea, India, Australia, and even Turkey.
As it stands, there seems to be no danger of this becoming a reality. Relations are good and Mongolia is keen to nurture these ties.
Young Leaders in Making: 15-Year-Old Luvsa Speaks on Disaster Preparedness in Mongolia
By Henry Makiwa, World Vision UK Media Manager at the World Conference on Disaster Risk Reduction in Japan
April 18 (World Vision) 15-year-old Luvsansharav "Luvsa" has been putting his newly learnt Japanese to good use. In the short time he has been in Sendai, he already knows how to compliment the chef for a well cooked meal ("Sono aji yoi"), thank him ("arigatou gozaimasu") and most importantly, ask for some more ("Mō sukoshi onegaishimasu").
To top it off, Luvsa finishes his pleasantries with a charming Japanese bow. You can't help but be impressed by this young man's aptitude for grasping new tongues and etiquette. The secret to his ability to learn, however, stems from an unlikely source - his headmaster.
Ask anyone in Luvsa's hometown in Mongolia, and they will tell you that they live with the threat of earthquakes occurring at anytime. With these fears in mind, measures and programmes have been created that help teach children how to respond to disasters themselves.
As a prominent activist and World Vision advocate, Luvsa was asked by his headmaster to find out how other communities and countries protect their schools from disasters. Little did Luvsa know that he would one day end up representing Mongolia at the World Conference on Disaster Risk Reduction Children & Youth Forum in Sendai, Japan last month.
In fact, Luvsa was one of three youth speakers who addressed an international audience of young leaders and dignitaries, including the UN Secretary General Ban Ki Moon.
Luvsa explained, "In my country, I conduct training on child-focused disaster risk reduction for community children. We understand that training and involving children on DRR are among the best ways to reduce disaster risks."
In his speech, Luvsa went on to explain that he believes children should be encouraged to take part in disaster risk reduction, with national youth councils being established across the world to work with schools and governments. This should make it easier for children to take part in the process - especially by helping to make DRR concepts accessible and easy to understand.
Luvsa's speech highlighted a theme that was echoed by the other youth delegates in Sendai. Youth at the conference made it clear that they want to be involved in efforts to reduce the risk of disasters, at both community and government levels.
Fellow World Vision child delegate Yudi, 15, also repeated Luvsa's claims. Yudi hails from Indonesia's East Nusa Tenggara province, where droughts are a common problem.
"We expect policymakers to learn from us that children can solve their own problems," he said. "As a youth leader in my home country, I have helped others conduct an assessment in a village which is vulnerable to droughts. Children there say the impacts of drought mean that they end up with a lack of study time as they have to support their families when they look for clean water and food in the forests which are far from their homes," Yudi added.
As the conference drew to a close, delegates from all over the world committed to reducing the damage and disruption caused by disasters to infrastructure, schools and education, over the next 15 years. Answering Yudi and Levsi's wishes, the agreement also states that children should be encouraged and supported to contribute to disaster risk reduction - meaning the world may not have seen the last of Luvsa and his polyglot skills yet.
Artist Erdenebayar Nambaral is using manga to tell future Mongolians about their culture and history
April 15 (Young Post, SCMP) Mongolian artist Erdenebayar Nambaral recently won the gold award for his manga book Bumbardai at the eighth International Manga contest in Japan. The awards are a special recognition given to non-Japanese manga artists. In the past, they have been dominated by mainland and Thai entries.
Erdenebayar's comic book series is about Bumbardai, a five-year-old boy, and his two friends, Saranaa, a girl, and Sumben, another boy. The books are part of a massive, 20-year project Erdenebayar has started, with the idea of preserving some of his nation's heritage and making it part of children's lives.
Manga is quite new in Mongolia, which, like parts of the mainland, has seen a huge rush of people moving from farms to the cities.
"Making a living as a manga artist is not easy," says Erdenebayar. "Manga art is just developing in Mongolia. In other words, this market is almost non-existent and only recently have Mongolians started to learn about it."
But it is not futile. Mongolia has a young population and so Erdenebayar sees a future when his work will be in heavy demand.
"The day is not far off when this art will flourish in this country," he predicts.
And he may be right. Mongolia has a rich history with a largely nomadic population, but things are changing - fast. Here are a few interesting facts about the country:
· 45 per cent of the population lives in the capital city, Ulan Bator.
· The population is about 3 million - less than half of Hong Kong's population.
· While Hong Kong's land area is 1,104 sq km, Mongolia is the most sparsely populated country in the world with 1,565,000 sq km of land.
Even though the odds were not in Erdenebayar's favour to be a stand-out manga artist, he followed his childhood passion of drawing, which he picked up at a school painting club. "There are no manga art schools in Mongolia," he says, and so he had to teach himself. "When I was a kid, I was really attracted to Disney animated movies, so I joined this art club at school when I was nine." It was then he decided to become an artist and he has stuck to his dream.
Minister Gantumur receives Wolf Totem director Jean-Jacques Annaud
April 20 (GoGo Mongolia) Currently, he is received by the Minister of Education, Culture and Science, L.Gantumur and Mongolian filmmakers are participating in this meeting.
Jean-Jacques Annaud said: "I am happy to be invited in your beautiful country. I am interested in your culture and history. One example is the "Wolf Totem" film. I am happy that Mongolians have greatly welcomed this movie. "Wolf Totem" film has showed great success in China and Mongolian culture were received great interests from Europe. This film is believed to contribute the development of friendly relation between two countries. I want to express my gratitude to President Office and he Ministry of Education."
"While reading the "Wolf Totem" book, I liked the description of Mongolian custom. In the other hand, this book was released when the government is putting high priority to environmental protection in China. I appreciated to Chinese authorities for granting me right to make this film and for cooperation. Difficulty was I spent seven years for making this film. On the other hand, it was difficult to find the appropriate Mongolian wild wolves. I found a three-month-old wolf cubs and prepared them for the film since 2008. Wolves reached the age of adulthood in the early summer of 2012 and we began filming. We made over 160 days of filming in 2013."
"We have waited for wolves to grow up and the filming was stopped for two and three weeks. We faced challenges including waiting for wolves to grow up, acclimatization of wolves and change of season. Moreover, it was difficult to film the wolves. Thus, we need to prepare 35 places for the wolves. We prepared seperate places for four wolves. "
"Due to areas of filming was located in different places, wolves had to placed in many areas. We brought Canadian wolf trainers. During the filming, we worked very well on the protection of animals including horses and wolves and no animals were injured."
"Horse and wolf taxidermy were used during the filming and it was made by US expert for a year."
"There were no difficulty for communicating between Mongolian and Chinese artists. The actors were really good. An example of this is actress R.Ankhnyam. I am satisfied that viewers had good impression on the actors."
"I have not planned any work with Mongolians, yet. This year, I will focus on releasing "Wolf Totem" film in North America. I will contribute to the development of Mongolian film." he said.
Speaker of the Parliament met with Jean-Jacques Annaud – GoGo Mongolia, April 20
Wolf Totem star R.Ankhnyam awarded Polar Star
April 20 (gogo.mn) "Wolf Totem" actress R.Ankhnyam awarded with "Polar star" medal by the order of the President.
During the meeting between "Wolf Totem" filmmaker Jean-Jacques Annaud and Mongolian filmmakers, it was an unexpected event that actress R.Ankhnyam was awarded with State Honors.
The Minister of Education, Culture and Science L.Gantumur handed over the medal to her.
Olympic silver medalist Tugstsogt goes 2-0 in pro boxing career
April 12 (gogo.mn) 2012 Olympic Silver medalist N.Tugstsogt debuted his second professional fight against Manuel Rubalcava in California, US.
It was the 14th professional fight for his component Manuel Rubalcava and N.Tugstsogt lose 8 kg for this fight.
This fight was continued for only 1 minute and 24 seconds at "Stubhub" center and N.Tugstsogt knocked out Manuel Rubalcava.
N.Tugstsogt, who goes by the thoughtfully shorter nickname, "King Tug," has started his professional career successfully.
His next component is Julio César Chávez.
Link to article (includes fight video)
N.Togstsogt beats his opponent – Montsame, April 20
B.Battsengel wins silver at World Powerlifting Championships in Denver
April 20 (gogo.mn) International master B.Battsengel won silver medal at World Powerlifting Championship which is being held in Denver, USA from April 16 to April 23.
He is the member of the Mongolian National Team and he competed at 93 kg category. Kassai Masahiko, Japanese athlete won gold medal and US athlete Grohoski Pete won silver medal at 93 kg category.
6th Floor, NTN Tower
Baga Toiruu, Chingeltei District 1
Ulaanbaatar 15170, Mongolia
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