Friday, October 23, 2015

[KCC renegotiates Origo loan; 8 stocks file Q3 reports; SMI signals deteriorating conditions; Japan takes over TT east rail; and Simon Cowell proud of MGT]

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Friday, October 23, 2015

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Overseas Market

Announcement made after market close, KCC last traded C$0.02 on 13 October

Kincora renegotiates C$2.5 million Origo Convertible Note

VANCOUVER, Oct. 22, 2015 /CNW/ - Kincora Copper Limited (TSX.V: KCC) ("Kincora" or the "Company").  Further to its news release of August 6, 2015, the Company is pleased to announce that it has reached an agreement with Origo Partners Plc ("Origo") to renegotiate the obligations of the Company with respect to the $2,500,000 convertible note held by Origo, which came due as of July 19, 2015.

Under the terms of the agreement Kincora will issue Origo a new note (the "Replacement Note") in the principal amount of $2,500,000, which Replacement Note shall become due and payable on October 21, 2016 with interest at 8.7% per annum, payable on maturity in cash or shares of Kincora, at Origo's election, any such shares to be priced in accordance with the policies of the TSX Venture Exchange (the "Exchange").

The Replacement Note is also convertible during the term of the Replacement Note at Origo's election as and when Kincora undertakes an equity financing of not less than $500,000, with conversion being on the same terms as such equity financing.

In support of its obligations under the Replacement Note, Kincora has also agreed to put $500,000 in escrow, which sum can be called upon by Origo at its sole discretion.

The Replacement Note remains subject to the acceptance of the Exchange.

Sam Spring, President and CEO commented, "I am pleased with the outcome of the replacement note, which is similar to the previous arrangement.

Origo has been and remains a long term and supportive shareholder, being instrumental in the formation of Kincora, and is our largest shareholder with a ~25% equity interest. The replacement note reiterates Origo's backing of management and Kincora's strategy, which includes continued work on our existing prospects, potentially expanding our footprint and pursuing more advanced opportunities that would not otherwise be available at other points of the commodity cycle". 

Link to release


XAM trading flat at A$0.13 midday

Xanadu Mines extends copper-gold continuity at rising Mongolian project

October 22 (Proactive Investors) Xanadu Mines' (ASX:XAM) new trench results extend the strike of higher-grade surface mineralisation and position Kharmagtai as a sizeable and growing porphyry deposit, with relatively high gold to copper ratios. 

Step out trenching at the Tsagaan Sudal deposits returned intersections of surface mineralisation including 116 metres at 0.72% copper and 0.35g/t gold (0.95 CuEq) as well as 90 metres at 0.57% copper and 0.14g/t gold (0.67CuEq). 

Shallow stockwork mineralisation remains open to the northwest and higher-grade mineralisation was intersected within the margin of the current resource pit shell. 

Earlier this year, Xanadu defined a maiden resource at Kharmagtai of 203 million tonnes at 0.34 per cent copper and 0.33 grams per tonne gold for a contained metal content of 1,500 million pounds copper and 2.2 million ounces of gold.

Importantly, the surface mineralisation intersected in the new trenching was consistent with or better than this resource estimate, proving further confidence in the geological interpretation, mineralisation controls and resource model. 

Both trenches confirm extensions to the resources at Tsagaan Sudal and have extended the known stockwork copper-gold mineralisation. The shallow stockwork remains open to the southwest, northwest and southeast. 

Broader intersections from the two trenches confirmed 304 metres at 0.40% copper and 0.23g/t gold (0.55 CuEq) and 280 metres at 0.36% copper and 0.10g/t gold (0.43 CuEq).

Based on visual observations the stockwork mineralisation in all trenches contain visible chalcopyrite and only weak oxidation of the copper sulphides, as has been observed in previous trenching and drilling at Kharmagtai. It is possible that the grades observed in these intersections may have been slightly elevated by supergene processes.

Encouraging steps

This trenching work followed on drilling last month at the project which returned 484 metres at 0.57% copper and 0.32 grams per tonne gold from 186 metres, including 158.4 metres at 0.8% copper and 0.24g/t gold from 342 metres.

This work reinforced the belief that the metal content of Kharmagtai's high-grade area is known as a tourmaline breccia is much higher than those of surrounding porphyry stockwork deposits, elevating it as a priority drill target in the district.

Tourmaline breccia deposits are a major host of copper mineralisation, and comprise some of the world's largest, most endowed porphyry copper deposits.

The latest drilling in turn followed earlier trenching designed to test resource extensions which returned copper-gold mineralisation of 122 metres at 0.49% copper and 0.75g/t gold. This compares with grades of 0.29% copper and 0.23g/t gold in the previously announced mineral resource at Tsagaan Sudal.

Investor attention

Advancements made across Xanadu's portfolio in recent weeks have translated into significant strides for the company's share price.

Xanadu stock last closed at A$0.135, which represents an 80% increase over mid-last month

Also in mid-September, the company received an unchanged Buy recommendation but a new 12-month share price target of $0.29 from Sydney-based broker Bell Potter Securities.

The broker's target is 52.6% higher than its previous valuation of $0.19.


The new trenching at Kharmagtai continues to demonstrate the quality and scale of the Tsagaan Sudal deposit and has successfully confirmed extensions to mineralisation more than 300 metres to the northwest where it remains open. 

This progress represents another step forward in Kharmagtai's steady progress toward defining itself as a sizeable porphyry deposit with relatively high gold to copper ratios. 

Upcoming work at the site which may represent price catalysts for Xanadu will include analysis of the broader geological framework to finalise drill phases for the entire project. 

With mineralisation remaining open to the northwest and down dip, there is tremendous scope to extend and increase the grade of the shallow resource at Tsagaan Sudal which will enhance the potential development case at Kharmagtai.

Upside is also enhanced by the fact that Kharmagtai's maiden resource covers only 30% of the prospective area.

Kharmagtai's mineralised styles and high-grade centres closely reflects the geological style of the giant Oyu Tolgoi mine, which holds 2.7 million tonnes of recoverable copper and sparked interest in Mongolia as a potentially major copper supplier in 2001.

A recent breakthrough that saw Rio Tinto and the Mongolian government settle disputes over terms of the Oyu Tolgoi project serves to de-risk and encourage investment capital flows to Mongolia and projects like Kharmagtai. 

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Link to XAM release

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Local Market

MSE Trading Report: Top 20 +0.9%, ALL +0.54%, Turnover 8.3 Million Stocks

October 22 (MSE) --

Link to release


MSE reinstates Sanar LLC's brokerage license

October 22 (MSE) Pursuant to the Clause No.: 81.1 of Company Law, the Clause No.: 8.2.1, 8.3 of Membership regulation of MSE and the Order of Acting CEO of MSE, the trading license of "Sanar" LLC securities company has been reinstated from 22 October 2015.

Link to release


Securities Companies Begin Filing Financial Reports Online to FRC

October 20 (Financial Regulatory Commission) The FRC organized training for accountants of securities companies, for introducing new regulation and guidelines on reporting financial statement by online and paper-based. The "Guideline for accounting to comply legal entities which operates broker, dealer and underwriter activities in securities market" and the "Financial statements, its disclosure form and accounting list to comply legal entities which operates broker, dealer and underwriter activities in securities market" approved jointly by the decree No. 103/131 of Minister of Finance and Chair of FRC in 13th of April, 2015. According to the newly approved regulation which met requirements of international standards, FRC has started to receive financial statements by online and paper-based since 3rd quarter of this year.

Link to release


Just Eight Stocks Have Filed 3rd Quarter Financial Statements

Company name



Publish date



Bluesky Securities




Mongol savkhi








Dalanzadgad DTsS




Javkhlant kharaa








Takhi Ko







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Historic low ₮1,997.26/USD set September 11

BoM MNT Rates: Thursday, October 22 Close








































































































Bank rates at time of sending: TDB (Buy ₮1,987 Sell ₮1,996), Khan (Buy ₮1,986 Sell ₮1,995), Golomt (Buy ₮1,986 Sell ₮1,995), XacBank (Buy ₮1,987 Sell ₮1,995), State Bank (Buy ₮1,986 Sell ₮1,995)

MNT vs USD (blue), CNY (red) in last 1 year:

Link to rates


BoM FX auction: CNY36m sold at 313, accepts $20m USD, $8.3 MNT swap offers

October 22 (BoM) On the Foreign Exchange Auction held on October 22th, 2015 the BoM has received bid offers of USD 5.6 million in a rate between MNT 1990.00-1992.11 and CNY 59.0 million in a rate between MNT 311.85-313.06 from local commercial banks. The BoM sold CNY 36.0 million in a closing rate of MNT 313.00.  

On October 22th, 2015, The BoM has received USD Swap agreement selling bid offer equivalent to USD 20.0 million and MNT Swap agreement bid offer equivalent to USD 8.3 million from local commercial banks and the BoM has accepted the offers.

Link to release


The Sales Managers Index: Mongolia

Mongolian SMI signals further deterioration in business conditions in October

·         Business confidence drops again as demand remains weak

·         Both sales and market growth decline at sharper rates

·         Companies continued to cut prices in effort to boost sales

October 23 (World Economics) The October reading for the World Economics Headline Sales Managers' Index (SMI) for Mongolia stood at 36.1, down from 38.6 in September. This indicated a sharper deterioration in business conditions that was the lowest level since March. The index has now been in negative territory for the past twenty months. The SMI provides the most up-to-date monthly assessment of economic activity in the country. It is derived from an average of the Business Confidence, Market Growth, Product Sales, Prices Charged and Staffing Indexes. An index above 50 indicates growth, while an index below 50 indicates contraction. Furthermore, the latest decline in the headline index reflected all five of its components. 

Business confidence remained negative in October linked to weaker domestic demand, high interest rates, uncertainty over commodity prices, and falling direct investment. The Business Confidence Index posted 34.8, down from 40.3 in September, the weakest level since March. According to panellists, business conditions over the coming months are anticipated to deteriorate cold winter weather is expected to have a further impact on demand and logistics. as the 

The Market Growth Index continued its fall during October, signalling worsening market conditions across the economy and the lowest level since April. Likewise, the Product Sales Index registered the weakest pace in six months, with panellists reporting that reduced domestic demand continued to affect overall levels of product sales. 

On the prices front, the Prices Charged Index fell to 39.5 in October from 40.0 in September. The index has now been below the 50.0 no-change mark for the past twelfth consecutive months, with panellists commenting on weak client demand as a key factor leading them to alleviate cost pressures and cut their prices for goods and services. 

At the same time, staffing levels decreased further in October thereby taking the current sequence of job losses to eighteen months. The Staffing Index posted the lowest level since May and signalled that labour market conditions across the country remained weak. Panellists attributed this to the general fall in sales and market growth.


World Economics Chief Executive Ed Jones commented:

"The World Economics Headline SMI for Mongolia signalled worsening business conditions across the country in October. The decline in the headline figure was reflected in all of its five components. However, business confidence, market growth and product sales recorded the biggest declines. Employment levels also fell but continued to decline at a steady pace. Meanwhile, panellists reported a further reduction in their selling prices in order to alleviate cost pressures and boost sales demand. Overall, the economic situation remains challenging, with panellists anticipating lower economic activity over the coming months." 

Link to release


73 thousand herders received 53 billion bank loans in 2014

October 22 ( As of first nine months of 2015, the debt balance of local bank loans reached to MNT 11.9 trillion, reported MP D.Demberel yesterday.

Bad loans are estimated as MNT 1.7 trillion, equal to 14 percent of the debt balance. As of December, 2014, the following number of people registered as borrower:

·         189 700 people have the pension loan worth MNT 355 billion

·         261 000 people have the salary loan worth MNT 1.4 trillion

·         66 300 people have the mortgage loan worth MNT 2.8 billion 2.8

·         73 900 people have the herder's loan worth MNT 53 billion, which says that the country as whole is under the pressure of the excessive amount of debt, outlined MP D.Demberel.

Link to article


Mongolia, Japan to Study Tavan Tolgoi East Bound Rail Options

By Michael Kohn

October 22 (Bloomberg) -- Mongolia, Japan signed MOU to study development of Tavan Tolgoi East Railway Line construction project, Mongolian Minister of Foreign Affairs Purevsuren Lundeg said in Ulaanbaatar Thursday.

* Japan to produce feasibility and bankable studies for 455km railway from Tavan Tolgoi to Sainshand; too early to say which Japanese company will be involved: Purevsuren

* Agreements made during visit to Ulaanbaatar by Japanese Prime Minister Shinzo Abe

* NOTE: Sainshand is planned hub for transporting coal to eastern Mongolia from Tavan Tolgoi basin, with eventual rail links to China and Russia.



Mongolia signs MOU on Tavan Tolgoi eastern railway project developmentMontsame, October 22


Japan, Mongolia affirm closer economic ties via FTA

ULAN BATOR, October 22 (Kyodo) -- Japanese Prime Minister Shinzo Abe and Mongolian Prime Minister Chimed Saikhanbileg agreed Thursday to advance economic cooperation with the free trade agreement the two governments signed in February.

Speaking at a joint news conference with Abe in Ulan Bator, Saikhanbileg said Mongolia completed legal procedures the same day, paving the way for the FTA to take effect possibly in spring next year.

Abe welcomed the move, saying Japan "would like to cooperate for Mongolia's development." The Japanese government won parliamentary approval for the FTA during a regular Diet session that ended last month.

Japan's increased economic cooperation with Mongolia appears to be aimed at countering China's rising clout in the country, especially when Mongolia's economy -- heavily dependent on the mining industry -- has been facing difficulties due to slumping natural resource prices.

Saikhanbileg said he and Abe also agreed to cooperate in infrastructure development in Mongolia, including development of the Tavan Tolgoi coal mine, a major project in southern part of the country.

Referring to bilateral security cooperation, Abe said he won Mongolia's backing for a greater role by Japan's Self-Defense Forces abroad under new security laws.

Abe called for continued strategic dialogue involving the two countries and the United States.

"Sharing basic values, Japan and Mongolia are important strategic partners," he said.

Given that Mongolia has diplomatic relations with North Korea, Abe asked Ulan Bator's cooperation in addressing Pyongyang's abductions of Japanese nationals in the 1970s and 1980s.

The abduction issue has prevented Japan and North Korea from normalizing diplomatic relations.

Abe became the first Japanese prime minister to visit Mongolia twice while in office. He last traveled to Mongolia in March 2013.

After holding separate talks with Saikhanbileg and Mongolian President Tsakhiagiin Elbegdorj, Abe departed for Turkmenistan on the second leg of a six-nation tour that will also take him to Tajikistan, Uzbekistan, Kyrgyzstan and Kazakhstan.

Some experts argue the weeklong trip is apparently intended to counter China's growing influence in the resource-rich region with its economic might.

Abe will become the first Japanese prime minister to visit all five Central Asian countries.

In August 2006, then Japanese Prime Minister Junichiro Koizumi traveled to Kazakhstan and Uzbekistan as the first Japanese premier to visit Central Asia.

Link to article


Economic Conditions Hindering Fight Against Poverty

October 22 (Mongolian Economy) Problems arising from external developments, disrupted budget revenues and lower commodities prices are just a few of the issues currently facing Mongolia's economy. The mining sector's production has increased by 16.5 percent due to increased copper export, although production in other sectors has shrunk slightly. The agricultural sector had nine percent annual growth, while the trade and transportation sectors contracted by 7.6 percent and four percent respectively. Performance seems to vary among economic sectors.

The World Bank warned that the current account deficit is expected to rise further, because our country is scheduled to repay large amounts of accumulated foreign debt in 2017. In addition, foreign direct investment has slowed, and prices of major mining commodities are continuing to decrease, which in turn carries risks of negative impacts on the overall economy and balance of payments. The balance of payments showed a surplus of USD 82 million in the first seven months of this year thanks to a large amount of external debt financing.

The World Bank recommends stopping the funding of certain budget-orientated projects

Many people draw the link between the current economic situation and political instability. The World Bank warned that such instability could bring about significant policy changes during the upcoming election year. It is necessary to take further action to mitigate risks in the future, although some reforms have been made to macroeconomic policies this year. The revisions on this year's state budget and proper monitoring of commercial expenditures of the Development Bank will boost the public's confidence in the budget planning. The central bank should continue to pursue a tight monetary policy. However, the World Bank recommends stopping the funding of certain budget-orientated projects.

Budget expenditures should be directed towards aspects that reduce poverty

Slowing economic growth is increasing the risk of facing poverty for households closer to the poverty line. Therefore, budget expenditures should be directed towards aspects that reduce poverty during such difficult budgetary and financial conditions. It's the appropriate measures to not increase the poverty rate. The percentage of people the population living below official poverty line of MNT 146,650 was 27.4 percent in 2012. In 2014, it had fallen to 21.6 percent; however, the rate of decline has slowed compared to the 2010-2012 average.

The World Bank recommends taking such policy adjustments and measures given current economic conditions, as they have reduced their previous forecast and now estimates that Mongolia's economic growth will be 3.3 percent at the end of this year.

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Politics & Legal

Budget Committee tackles amendments to excise tax, customs tariffs

Ulaanbaatar, October 22 (MONTSAME) This meeting on Thursday ran first discussions of draft amendments to the laws on customs, on customs tariff and customs tax, submitted urgently by the cabinet.

After running a poll over principally different views of MPs and the Standing committee, it was decided to submit to a plenary meeting of the parliamentary session all the conclusions made after the discussions of the draft amendment to the law on excise tax and a draft amendment to the parliamentary resolution on approving a size of the customs tax on import products.

The same day, this committee ran first discussions of draft amendments to the laws on the 2015 budget frameworks and on the 2016-2017 budget assumption. It was decided to continue the discussions at next meeting, together with the budget clarification.

Link to article


Cabinet approves new composition of trilateral national labor committee

Ulaanbaatar, October 22 (MONTSAME) The irregular cabinet meeting ran on Wednesday to approve a new composition of the Trilateral national committee on labor and social consensus.

The approval of the new composition is made by a concurrence between the Mongolian Trade Unions and the Mongolian United Confederation of Employers under the law on labor. Since several Vice ministers have been fired, the composition has been renovated with 18 representatives--of the government, Mongolian Trade Unions, and Mongolian United Confederation of Employers.

After this, the cabinet discussed a draft intergovernmental cooperation memorandum of mutual understanding between Mongolia and Japan. The FM L.Purevsuren was authorized to sign the memorandum.

Link to article


The Truth About Mongolia's Independence 70 Years Ago

A referendum in Mongolia seventy years ago sheds light on the country's path since.

By Sergey Radchenko, Zi Jiang Distinguished Professor at East China Normal University, Global Fellow at the Wilson Center, and Reader in International Politics at Aberystwyth University, Wales.

October 22 (The Diplomat) Seventy years ago, on October 20, 1945, Mongolia held a referendum on independence from China. The Chinese had by then lost all effective control of what they then called "Outer Mongolia." The last Chinese forces in Mongolia were chased out by the anti-Bolshevik general Roman von Ungern-Stenberg in 1921 (who was in turn defeated by the Bolsheviks later that year). Mongolia soon became the "People's Republic of Mongolia" – the first Soviet satellite, even as it remained, de jure, a part of China. In February 1945, at Yalta, the Soviet leader Joseph Stalin asked his wartime allies, the United States and the United Kingdom, to consent to Mongolia maintaining its "status quo" after the war, and obtained their agreement to this innocuous proposition.

It was only later, in the summer of 1945, that it became clear what Stalin meant by the "status quo," when he told the Chinese – who had not participated in the Yalta conference and were not consulted about its decisions – to recognize Mongolia's independence. In the course of drawn-out, bitter talks in Moscow between Stalin and the head of the Chinese Executive Yuan T.V. Soong, the Soviet leader raised the prospect of Mongolian nationalism: "If this [China's recognition] does not happen Outer Mongolia will be rallying point for all Mongolians. It's to the detriment of China and us." Stalin pulled out a map to show how Mongolia was strategically important to the USSR. He cited Lenin's parting with Poland and Finland in the wake of the Bolshevik revolution as an example for China. He referred to the Yalta agreements, arguing that China, in the end, simply had no choice. With northern and northeast China poised to be overrun by Soviet troops – who were on the verge of entry into war against Japan – the Chinese knew that this was not an idle threat.

Under pressure, China's leader Chiang Kai-shek gave in, cabling Soong to make the "greatest sacrifice" on the condition that Stalin would abandon his support for the Chinese Communist Party and the Uighur independence movement in Xinjiang. Stalin agreed. With the signing of the Sino-Soviet Treaty of Friendship and Alliance on August 14, 1945, China promised to recognize Mongolia's independence but only after a plebiscite. Both sides realized, of course, that the referendum was just a show but Chiang wanted it for domestic political reasons, and Stalin was happy to oblige.

Stalin's insinuation to T.V. Soong concerning the power of Mongolian nationalism was not just talk. The Soviet leader knew that his Mongolian client Marshal Khorloogiin Choibalsan, was actively working with Mongolian tribes in Manchuria and what would later become China's Inner Mongolia, advocating their accession to the Mongolian state. Soviet operatives in Ulaanbaatar reported to Moscow that Mongolian elites already imagined the creation of a Great Mongolia across much of northern China, extending as far south as the Great Wall and as far east as the sea. Choibalsan shared these sentiments. He also disagreed with some of the younger leaders, like his eventual successor Yumjaagiin Tsedenbal, that Mongolia should itself become a part of the USSR. Despite being a Soviet client, Choibalsan attempted, within permissible limits, to maintain a degree of autonomy from the Soviet Union. As for his southern neighbor, Choibalsan privately vowed in July 1945 that "we will not have friendship and friendly cooperation with the Chinese. These are very, very bad people."

October 20, 1945 gave Choibalsan an opportunity to prove how much Mongolia wanted independence. Preparatory work began a month beforehand. From October 3, the ruling Communist Party (the Mongolian People's Revolutionary Party) held a total of 593 party cell meetings, 409 Youth Communist League meetings, and 295 meetings of party activists. Tens of thousands of participants in these meetings were treated to propaganda concerning the great achievements of socialist Mongolia and the importance of the referendum. Subsequent Soviet reports indicated that the Mongolian populace on the whole appreciated the significance of the vote, and only a few participants asked "provocative" questions, such as whether the Soviet Union planned to annex Mongolia after the plebiscite.

The actual day of voting became something of a great national celebration. Soviet observers reported:

From early morning the voters in large groups set out for the polling stations. The majority dressed up in festive clothes. Having arrived at polling stations, [they] presented the [referendum] commissions with letters, statements, greetings, well wishes, and also with valuable gifts. There were more than 85 thousand letters and statements of this type. Many of the polling stations witnessed spontaneous mass demonstrations, and the voters arrived at the stations with flags, banners, and portraits of comrade Stalin and the leaders of [Mongolia].

The official results of the referendum showed that 98.6 percent of eligible voters – 487285 people – took part in the voting. Soviet observers secretly informed Moscow of multiple voting irregularities, including instances of the local referendum commissions "without asking the voters, marked their opinions in the voting lists and even faked signatures to prove the 100% participation of the voters in the plebiscite." It transpired that there were 1551 duplicate entries in the voting register, and that 2437 people were left out altogether. Among those who voted were 98 foreigners who were not supposed to vote and – oh, horror – two people who were eligible to vote, blatantly refused to do so. The central referendum commission, according to these Soviet reports, did not show the slightest interest in the numbers that were coming from below and "tried to write up the protocol on the results of the plebiscite without checking any documents."

But all of these unsavory details were kept out of the public eye. According to the official results of the referendum, a full 100 percent of the voters voted for independence from China. Even the Soviets, for all their reservations about the methods of this referendum, commended the Mongolian People's Revolutionary Party for their ability to "succeed in any political campaign."

It is hard to imagine that even if an honest referendum was conducted in October 1945, the outcome for Mongolia would have been any different. The majority of the Mongolian population would still have voted for independence from China. But, skilled in the art of Communist political manipulation, then-rulers of Mongolia did not hesitate for a moment before trying to forge the results of the referendum, even when they did not have to.

True to Chiang's earlier promise, the Republic of China recognized Mongolia's independence in January 1946. This recognition was rescinded some years later when Chiang accused Stalin of violating the agreements of 1945 by supporting the Chinese Communists in the Civil War. For decades afterwards, the maps of the Republic of China, published in Taiwan, featured Mongolia as a part of the Chinese territory.
The Chinese Communists, who came to power in the Mainland in October 1949, also briefly hoped to regain Mongolia. Mao Zedong raised the issue with Stalin in February 1949 but the Soviet leader demurred, arguing that Mongolia had already "tasted independence" and would not let go of it. After Stalin's death in 1953, which was followed by de-Stalinization in the Soviet Union, the Chinese probed Moscow again, suggesting that Mongolia's independence had been one of Stalin's mistakes. These probes were again rebuffed. As late as 1989 then-Chinese leader Deng Xiaoping was still complaining to the Americans that Stalin had "severed" Mongolia from China. "Those over 50 in China remember that the shape of China was like a maple leaf," Deng told then-President George H.W. Bush. "Now, if you look at a map, you see a huge chunk in the north cut away; the maple leaf has been nibbled away."

In present-day Mongolia, the 1945 referendum is remembered as a case of self-assertion of national pride and patriotic spirit. Although for all intents and purposes Mongolia was a Soviet satellite then and did not become a fully independent country until the collapse of Communism in the late 1980s, the referendum forms an important part of the narrative of statehood rooted in the ancient exploits of Genghis Khan but expressed, as in 1945, in the collective outpouring of the nationalist sentiment.

But from the Chinese perspective, Mongolia's independence was not so much a result of Mongolian nationalism as of Soviet manipulation. China's is probably a fairer assessment, because no matter how much the Mongolians aspired towards independence, these aspirations would probably come to nothing were it not for Stalin's dogged insistence – for his own, very un-altruistic, reasons – on Mongolia becoming an independent state. The Chinese leaders would not have given in to people's sentiments – China's treatment of its ethnic minorities in Inner Mongolia, Xinjiang, and Tibet is a case in point – but they did bow to the realities of power. In 1945, China was weak, and Stalin had his way. The results of the Mongolian plebiscite were therefore predetermined, and not so much in the happy meeting of the enthusiastic referendum committee, but in the dark recesses of Stalin's mind.

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Mongolia approves 2013 Russian request to restructure holding in Erdenet, Mongolrostsvetmet

Ulaanbaatar, October 22 (MONTSAME) The State Great Khural (parliament) ratified Thursday the Mongolia-Russia Intergovernmental protocol on amending the Agreement on Operations of Erdenet Mining Corporation signed by the Governments of Mongolia and Russia on July 1 of 2003.

Same protocol, on amending the April 25 of 2007 Intergovernmental Agreement on Operations of "Mongolrostsvetmet" joint venture was also ratified.

These changes to the key documents have been made upon the Russian government's request, issued in 2013, to transfer its ownership to "Rostec" (Russian Technologies) state-owned company. According to the intergovernmental agreements, a shareholder must be either a Government or a state-owned legal entity. 

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U.S. to provide more funding to good governance programs in Mongolia

Ulaanbaatar, October 22 (MONTSAME) Head of the Parliament Standing committee on state structure A.Bakei and secretary-general of the Parliament's Secretariat B.Boldbaatar received October 22 the US Agency for International Development (USAID) representative to Mongolia Mr Rick J.Gurley.

The latter informed them that the U.S. Congress has resolved to provide additional funding for implementing programs on strengthening good governance in Mongolia, which aim at ensuring governance transparency and accountability.

He also said the USAID aspires to train new young leaders, advertize Mongolia's practices as role model to other countries in strengthening democracy and market economy, and to ensure professionalism and stability in the state services.

In response, Mr Bakei expressed a gratitude to the USAID for planning on such programs of capacity building in the state services. Due to the repeated reckless changes in state servants' positions after major elections, the Law on State Services has been proven that it needs some changes, he said.

A.Bakei also added that the new version of the Law, submitted by president, will be discussed by the autumn session of the State Great Khural. The USAID programs are hoped to consolidate professionalism and stability of the state services, as well as to improve its independence from political interests.

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Old apartment prices fall 9.7%-11.8% in 2015 – Master Properties

October 22 ( We deliver you the prices for old housings in Ulaanbaatar city as of September, 2015.

According to the research conducted by "Master Properties" LLC:

·         An average prices for 1 room apartment is at MNT 60.2 million

·         An average prices for 2 room apartment is at MNT 94.1 million

·         An average prices for 3 room apartment is at MNT 128.0million

Compared to August, prices for 1 room apartment is increased by 4.3%, 3 room apartment is increased by 0.1% and prices for 2 room apartment is decreased by 1.6%.

Compared to the beginning of the year (2015), prices for 1 room apartment is dropped by 9.7%, 2 room apartment is dropped by 9.6% and prices for 3 room apartment is decreased by 11.8%.

An average prices for rent 1 room apartment is at MNT 456.2 thou., 2 room apartment is at MNT 587.0 thou. and 3 room apartment is at MNT 807.1 thou.

Rental priced the highest at Suhbaatar district while the lowest at Songinohairhan district.

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Ulaanbaatar ready for winter says Energy Minister

Ulaanbaatar, October 22 (MONTSAME) On Thursday, Minister of Energy D.Zorigt attended an "Hour of Minister" weekly meeting to speak about the winter preparation and critical issues in the energy sector.

He said that a working group in charge of monitoring the winter preparation and regular maintenance of the general power system has been formed. By October 10, overhaul maintenance of main equipment was going with 93 percent. A winter regime will be pursued at power stations and thermal plants from September 15 of 2015 to May 15 of 2016. In cases of emergencies and forces majeure, they will shift to special regime.

So far this year, the energy sector welcomed 1,064-km power transmitting lines and 82 sub-stations. Amgalan power plant, a subsidiary of the Fourth Thermal power Plant, has also been commissioned, located in the eastern area of Ulaanbaatar. 

In Ulaanbaatar, a total of 394.7-km thermal lines and nine pumping stations will operate this winter. By repairing and replacing 29.7-km lines, the capacity has expanded by 249 GCal/h.

Through implementations of projects on 123MWT expansion for the Fourth Thermal Power Plant and on 50MWT expansion for the Third Thermal Power Plant, our energy production has become capable of meeting the increasing domestic heating needs.

As for Ulaanbaatar, a total of 236 buildings and facilities and 23,600 consumers have accessed power system anew.

Khentii aimag's Ondorkhaan sub-station has improved its capacity, in regard to the infrastructure development of the new 1,000 family apartments. Closed switchyard of Bayan-Olgii aimag was renovated.

Oyu Tolgoi LLC managed and has commissioned the access of Khanbogd and Bayan-Ovoo soums to the integrated power system.

In frames of the "Ikh Toiroig Network" project, 102.6-km overhead power lines, 11 sub-stations are under construction, including 220 kW sub-station of "Songino", 110 kW sub-stations of "Khoshigt", "Bayangol", "Radio Television", "7th Khoroolol", "Zaisan", "14th Khoroolol", "New Yaarmag", "Yaarmag Bridge" and "Zalaat". The project is with 80 percent completion.

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1997.39 tons of waste cleaned up in UB on public cleaning day

October 22 ( During last weekend, the public clean up activity took place. As a result, 1997.39 tons of waste was cleaned up, covering 2.122.511 meter square area.

Total of 7132 entities and 30512 people joined the activity and 226 trucks of waste were loaded as 182 entities were warned with the statement of waste management.

Also, more than 60 state organizations and 2877 state employees participated in the event, reported Administration of Ulaanbaatar City.

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Japanese PM Shinzo Abe pays four-hour visit to Mongolia

October 22 ( Japanese Prime Minister Shinzo Abe is paying a four-hour working visit to Mongolia today.

PM Shinzo Abe met with Speaker of the State Great Hural Mr.Z.Enbold and exchanged their views on cooperation issues of strategic partnership. At the meeting, both parties have exchanged their views on Economic Partnership Agreement between Mongolia and Japan as well as they made discussion on inter-parliamentary cooperation.

In scope of Japanese Prime Minister`s visit, the Minister of Foreign Affairs L.Purevsuren and Japanese Ambassador to Mongolia T.Shimizu have signed Memorandum of Understanding to cooperate on new project railway of east route for Tavan Tolgoi and to encourage the Japanese side's involvement in construction works.

PM Shinzo Abe met with the President of Mongolia Ts.Elbegdorj and visited at President`s House located in Ikh Tenger Complex. During the meeting, PM Shinzo Abe and President Ts.Elbegdorj exchanged their views on exchange views on a broad range of issues on bilateral strategic cooperation.

Event the meeting lasted for short term, it remains effective as they exchanged their views on many important issues.

Moreover, the First Lady H.Bolormaa held special meeting with Mrs. Akie Abe and she introduced the operations of "Bolor Fund", "Loving Family Center" and "Hope" No Cancer Mongolia NGO, founded by her own initiative.

In addition, Mrs.Akie Abe watched the concert by children of "Bolor Fund".

Mr.Shinzo Abe and his lady became the first foreign Head of Government visited at President Ts.Elbegdorj`s house while President Ts.Elbegdorj have became the first foreign Head of State visited at Mr.Shinzo Abe`s house previously.

Japanese PM Shinze Abe held official talks with PM Ch.Saihanbileg and exchanged their views on escalating the implementation of economic partnership agreement established between the two countries.

Meeting of State Heads of two countries held behind the closed doors. The meeting was attended by the Head of Cabinet Secretariat of the Government S.Bayartsogt, Minister of Road and Transportation M.Zorigt, Minister of Mining R.Jigjid and Advisor to the President B.Delgermaa.

From Japanese side, 50 businesses accompanying Japanese Prime Minister Shinzo Abe have attended in the meeting.

Following the meeting, two parties have signed Memorandum of Cooperation.

Japanese Prime Minister Mr.Shinzo Abe`s plane landed in Chinggis Khaan International Airport and he has welcomed by the Minister of Foreign Affairs L.Purevsuren.

In scope of his four-hour visit, he will hold official talks with the President of Mongolia and Prime Minister.

Japanese Prime Minister Mr.Shinzo Abe is paying an official visit to Mongolia today. We deliver the agenda for Shinzo Abe's four-hour visit.

Mr.Shinzo Abe and his wife Akie Abe will visit in Ih Tenger Complex at 01:50PM and be welcomed by the President of Mongolia Ts.Elbegdorj and the First Lady. Next, they will visit at President`s House.

After holding official talks with PM Ch.Saihanbileg, PM Shinzo Abe will attend a signing ceremony.

Then, at the signing ceremony, PM Shinzo Abe and PM Ch.Saihanbileg will make joint statement to press and media.

At 03PM, they will visit to Japanese Military Memorial Park to pay tribute.

His working visit will conclude with arrival at Office of Japanese Embassy at 5PM.

Interestingly, this is the second visit of Mr. Shinzo Abe to Mongolia and the 5th visit of the Japanese Prime Minister to Mongolia since 1990. In the past, Prime Minister T.Kaifu visited Mongolia in 1991, Prime Minister K.Obuchi in 1999, Prime Minister J.Koizumi in 2006 and Prime Minister Shinzo Abe in 2013 respectively.

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Mongolia, Japan PMs hold official talksMontsame, October 22

Mongolia attaches great importance to strategic partnership with Japan says Enkhbold to Abe Montsame, October 22

Shinzo Abe becomes first foreign premier to visit Mongolian President's residence Montsame, October 22


Japan to continue development assistance to Mongolia with soft loans

October 22 (MONTSAME) In connection with the working visit of Japanese Prime Minister Mr Shinzo Abe to Mongolia on October 22, Mr Fukasawa Hiroshi, First Secretary of the Japan Embassy in Mongolia, gave an interview.

Since 1977, Japan has provided a total of JPY 238 billion in aid to Mongolia in the light of bilateral economic cooperation. The Japanese aid had played a crucial role in overcoming the financial and economic difficulties Mongolia faced during the transition period to market economy. This assistance and support targeted all spheres including infrastructure, construction, education and healthcare. In recent years, Japan has been implementing soft loan projects to train Mongolian human resources for its industrial sector and empowering higher education institutions.

"With a view to provide equal access to economic growth and comply with Millennium Development Goals and other development policy goals, the Government of Japan is planning to target its development aid at ensuring sustainable development of mining, consolidating governance, promote economic growth beneficial to all people, and increase the potential of Ulaanbaatar", said Mr. Hiroshi.

Since Mongolia's economy has increasingly grown and the share of GDP per capita has reached USD 3770, the amount of grant aid provided to Mongolia is to be cut significantly. In the future, soft loan projects and programs will tend to dominate.  Currently, international loans with the lowest interest rate have been granted by Japan.  In particular, Japan provides soft loans with an interest rate of 0.1 to 0.2 percent and from 14 to 40-year terms. This is the most favorable condition.

A total of 332 soums of all 21 aimags of Mongolia are benefitting from projects and programs that are being carried-out by the Government of Japan in association with the Japan International Cooperation Agency.

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Mogi: doesn't really say why she's here, at all in actually

Deputy Speaker Enkhbold M. receives South Korea MP Kim Yong Ju

October 22 ( Today Deputy Speaker of State Great Khural M.Enhbold receives delegations led by South Korean MP Kim Yong Ju.

At the beginning of the meeting, Deputy Speaker of the State Great Hural M.Enhbold wished success on the visit of South Korean MP Mrs.Kim Yong Ju and noted that Mongolia and South Korea has been communicating and cooperating for hundreds of years.

He expressed his grateful for expansion of relations between the two countries in all sectors including trade, economy, politics and social activities since the establishment of diplomatic relations. Moreover, he emphasized that Mongolia always remembers the grant and support from South Korea during the economic difficulties.

M.Enhbold expressed his glad for the expansion of cooperation between the parliaments of two countries, especially cooperation between parliament offices of two countries, and requested MP Kim Yong Ju who has been elected repeatedly as MP to share her political experience with female MPs in State Great Hural.

South Korean MP Mrs. Kim Yong Ju thanked to the Deputy Speaker of the State Great Hural for the meeting and expressed her glad for the development of cooperation between the two countries. In addition, she expressed her willingness to strengthen the cooperation between the two countries, reported by the Press and Public Relations Department of State Great Hural.

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Vice Speaker meets delegation of S.KoreaMontsame, October 22


Mongolia discusses visa exemption, rights of citizens with South Korea

Ulaanbaatar, October 22 (MONTSAME) Minister of Justice of Mongolia D.Dorligjav paid an official visit to the Republic of Korea this October 19-21. This has become the first interaction for the two countries on justice ministers' level since 2007.

The Minister held official talks with his S.Korean counterpart Kim Hyun-woong, and ran meetings with the Ministers of Security and Public Administration and of Government Legislation, and also with a head of the Justice Standing committee of the Korean National Assembly (parliament).

During the talks, the two sides exchanged views on the  matters on expanding the cooperation in legal sphere, preparing cadres, as well as defending the rights of the Mongolians in S.Korea, alleviation in visa issuance, particularly about issuing allowing more multiple entry visas for Mongolian nationals travelling to S.Korea.

The S.Korean side expressed a willingness to cooperate in the legal renovation of Mongolia in a scope of a Memorandum of Understanding between the two Ministries of Justice.

D.Dorligjav also legged the National Forensic Studies Institute, Electronic Handcuffs Monitoring Center and a house of correction. He discussed with the authorities a further cooperation in implementing projects on forensic studies, getting technical assistance, sharing practices of the use of electronic handcuffs and introducing S.Korean high tech to the renovation process in the national archives of Mongolia.

Moreover, the sides considered a collaboration in ensuring a security during the ASEM Summit, which will run in Ulaanbaatar next year.

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China, Mongolia kick off culture week in Hohhot

HOHHOT, Oct. 22 (Xinhua) -- A culture week between China and Mongolia began Thursday in Hohhot, capital of Inner Mongolia Autonomous Region.

The event is the biggest cultural exchange program between the two countries in recent years, according to the organizer.

More than 1,000 artists from China, Mongolia and Russia will perform over the next six days, including 56 Mongolian dance performances.

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Health, Education

Inspired by Zaya - U.Azjargal, Teacher

October 22 ( "Future of Mongolia is not just mining. Instead I believe our future is dependent on educated, intelligent and multifaceted youth". I want to proudly introduce those talented and educated young professionals to others.

Editor E.Ariunzaya

I interviewed with ordinary women who works as teacher. She has a dream, purpose and achievements. She always admires her family and she is just like me, learned English in Mongolia not in abroad. However, she was amazing. I was very proud of her. Her name is U.Azjargal. For the full interview please click here.

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Mongolian to judge World Title Match for draughts

Ulaanbaatar, October 22 (MONTSAME) A vice president of the World Draughts Federation (FMJD) and president of Mongolia's Draughts Federation (MDF) Ch.Bat-Erdene has been selected the judge for the 2015 World Title Match.

The events will run this October 25-31 in Izmir of Turkey between Grand Master Alexander Georgiev of Russia, seven-time World champion; and J.Ndjofang, silver and bronze medalist of the World Championships.

Mr Bat-Erdene also serves as the president of the Asian Draughts Confederation.

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Team Mongolia heads to World Youth Chess Championships in Greece

Ulaanbaatar, October 22 (MONTSAME) Mongolian young chess players Thursday headed to Greece to participate in the World Youth and Cadets Championship-2015 that will run October 24-November 6 in Halkidiki city.

The team has 26 players, including D.Monkhzul, the 2015 Youth World champion; Ye.Yosontomor, a silver medalist of the World Championship-2014; and S.Bilguun, a FIDE master.

At the airport they were seen off by vice presidents of Mongolia's Chess Federation P.Jigjidsuren and G.Erdenebayar. 

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International Mountaineering Federation VP visits Mongolia

October 22 ( At the invitation of the Mongolian Mountaineering Federation (MMF), the Vice President of International Climbing and Mountaineering Federation (UIAA) Peter Farkas made a visit to Mongolia on 14th-19th October.

The purpose of the visit is to discuss co-operation program and to provide up-to-date information about the current situation Mongolian under the main climbing categories of the sport, namely; climbing, rock climbing, and ice-climbing.

The MFF is paying a lot of attention to facilities, staff and international competitions in order to improve and intensify the development of the sport.

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Art, Entertainment

Simon Cowell ''super proud'' of Mongolia's Got Talent as show gives hope to nation braced for -40C weather

Genghis Cowell has made Got Talent the most successful reality format ever, airing in 193 countries including Afghanistan, Cambodia and Myanmar

October 22 (Mirror) Music mogul Simon Cowell has conquered Mongolia as he builds a global empire warlord Genghis Khan would be proud of.

Mongolia's Got Talent has achieved the country's highest-ever TV ratings, with an "almost unheard of" 70% audience share.

A third of the three million population tuned in for the launch of the show last month – with the numbers rocketing as the series has gone on.

Got Talent is now the most successful reality format ever, aired in 193 countries and watched by 500 million worldwide.

A source said: "Simon is super proud of the Mongolian show and the fact Got Talent is now seen on more or less every corner of Earth."

Child sings on Mongolia's Got Talent:

Cowell, 56, who today announced he will be a judge on the next series of America's Got Talent, rolled out the franchise in Afghanistan, Azerbaijan, Cambodia, Iceland, Mexico and Myanmar in 2014.

In December, he joked at a TV conference that Mongolia was one of the last regions in the world without Got Talent.

Mongol TV's chief ­executive Nomin Chinbat said: "When I heard Simon Cowell saying Got Talent had to be in Mongolia, I immediately decided to rise up to the challenge.

"Mongolians are great entertainers and this format is a great fit."

Man in costume on Mongolia's Got Talent:

Executives from Mongol TV in Ulaanbaatar joined Simon at the London auditions of the show earlier this year to discuss the venture.

And Chinbat confirmed it now has the "highest rating ever for any programme," adding that it was "the most expensive show that Mongolia has ever done".

Dancing and rapping on Mongolia's Got Talent:

It is so popular, a 30-second advert in the final costs around £4,500 – 25 times the average for a similar slot.

Commentators in the country reckon the show has "given hope" as the nation prepares for winter, when temperatures can be minus 40C.

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Winter Getaway: Hunnu Tour Ger Camp Near Chinggis Statue

October 22 ( As the winter approaches we are informing you about possible weekend getaways to escape from UB's hassle and air pollution. This week, it's Hunnu camp happily situated near the Genghis Khan equestrian statue at Tsonjin Boldog in the Tuul River Valley, only 1hr drive from Ulaanbaatar to the east.

This simple but comfortable camp offers visitors accommodation in beautifully decorated Mongolian traditional Gers (36 floor heated Gers), and the spacious restaurant (can serve up to 100 people at a time) is the place, where excellent Mongolian and western food are served as well as a well-stocked bar. Also there's a fully equipped conference hall. Western style washing facilities are shared.

For winter visitors the camp management is offering optional activities such as horse riding, sledging, hiking and some snow sports (transfer service is available for 10-25 people). There's plenty to do and see in the Tuul River Valley in winter. The view from the camp is beautiful.

Please contact the English and German speaking friendly staff of Hunnu camp at 7000-6989 (office) or 7000-6868 (camp). And their email address is and website is

Prepared by Zola, General Manager at Mongolia Tourism Association for ©All rights reserved 2015.

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Suite 702, Level 7, Express Tower

4 Peace Avenue, Chingeltei District 1

Ulaanbaatar 15160, Mongolia
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