April 28 (source: news.mn ) During Great Khural's morning session, MPs approved plans to build a copper smelter by a vote of 77.4%. No details were given on this article. Details will be promptly distributed as it is known.
...
http://politics.news.mn/
Amendments to Mineral Law approved by cabinet, set to be introduced to parliament
April 28 (source: news.mn) among these amendments, a new incremental royalty tax ranging from 5% to 10%, increasing on a 1% increment, is included. these increases will depend on the price increase on each commodity. Minister Bayartsogt in a interview gave examples on copper and gold:
Copper:
5% - $5000
6% $5001 - $6000
...
10% $9001 -
Gold:
5% - $900
6% - $1000
...
10% $1300 -
The draft also includes creating Mongolia's own coal classifications.
Bayartsogt's Interview Video: http://economy.news.mn/video/
Details of the amendments: http://economy.news.mn/
Note: OT will be exempt from this change as stated in the Investment Agreement
Mongol-999 has 780 participant companies
April 28 (source: news.mn) Mongol-999, a consortium formed for the purpose of becoming a national operator of TT has 780 companies registered, the article says. On Monday they had 700 companies. Each company will invest a million MNT and become a shareholder. The article also states that the Chamber of Commerce has allegedly given its support to Mongol-999.
http://economy.news.mn/
D. Bat-Erdene, Southgobi Sands' head of geology and government
relations, gave an interview, giving some details of SGQ's operations
(in Mongolian) http://economy.news.mn/
Mongolian Stock Exchange gets new executive board
April 28 (news.mn) The State Property Committee (SPC) has reconstituted the executive board. The new Directors are: Ch.Gankhuyag, CEO of Tenger Financial Cooperative, B.Bold, CEO of Newcom, Z.Shagdarsuren, General Secretary of the Association of Banks, N.Tsogt, an international lawyer, and three officials from the SPC. D.Boldbaatar of the Mongol Bank and L.Bayaraa from the Ministry of Finance were re-appointed. The SPC wants to get a team of Mongolians who have studied the relevant disciplines abroad to work under the direction of the Board to fulfill the Government directive to develop the country’s capital market.
http://english.news.mn/
MPRP group prefers L.Bold’s draft election law
April 27 (news.mn) The MPRP group of MPs yesterday agreed to discuss in Parliament the draft election law developed by MPs such as L.Bold, according to its head, D.Lundeejantsan. The draft proposes a system of proportional representation.
...
http://english.news.mn/content/8710.shtml
Survey finds Mongolia bad for mining investment
April 28 (news.mn) The Fraser Institute"s annual survey reveals miners and explorers still believe Mongolia is a nightmare. It is seen as “suffering from endless tinkering with mining laws and regulations, resource-nationalism, creeping expropriation, and non-transparency".
http://english.news.mn/
Survey finds Mongolia bad for mining investment
April 28 (news.mn) The Fraser Institute"s annual survey reveals miners and explorers still believe Mongolia is a nightmare. It is seen as “suffering from endless tinkering with mining laws and regulations, resource-nationalism, creeping expropriation, and non-transparency".
...
http://english.news.mn/content/8941.shtml
Hopu, Temasek miner taps China Life for $250 mln (reported yesterday)
HONG KONG, April 27 (Reuters) - Iron Mining International, partly owned by private equity firm Hopu and Singapore's state investor Temasek [TEM.UL], has secured a $250 million investment from China Life ahead of its planned Hong Kong IPO.
http://english.news.mn/
Hopu, Temasek miner taps China Life for $250 mln (reported yesterday)
HONG KONG, April 27 (Reuters) - Iron Mining International, partly owned by private equity firm Hopu and Singapore's state investor Temasek [TEM.UL], has secured a $250 million investment from China Life ahead of its planned Hong Kong IPO.
Iron Mining, which was previously known as Lung Ming Investment Holdings Ltd, owns and operates a Mongolian iron ore mine. The firm has revived plans for a roughly $1 billion IPO, an offering expected to be handled by Credit Suisse (CSGN.VX) and Goldman Sachs (GS.N), four sources with direct knowledge of the offering told Reuters.
...
Iron Mining's IPO is scheduled to launch on the Hong Kong Stock Exchange before the end of the year, the sources said. The revived IPO plan comes as iron ore spot prices have soared amid a recovery in steel production.
Iron Mining's IPO is scheduled to launch on the Hong Kong Stock Exchange before the end of the year, the sources said. The revived IPO plan comes as iron ore spot prices have soared amid a recovery in steel production.
...
(Mogi's note: Iron Mining owns 53 percent of Mongolian iron ore mine Eruu Gol. Local partner Dornyn Gobi LLC holds the remaining 47 percent. Previously CIC invested $700mln, Temasek & Hopu $300 mln in Iron Mining International (then Hong Kong Lung Ming Investment Holding.
more on this: http://www.reuters.com/article/idUSTRE56J2R120090720 )
Dornyn Gobi LLC's profile on Chamber of Commerce:
http://202.131.237.118:8080/ccip1/pub/cci/member/viewmemberen/221;jsessionid=200A190920FECA43EC780C211619A01F
)
http://uk.reuters.com/article/idUKTOE63Q05F20100427
The National Venture Capital, LLC Teams up with VentureChoice, Inc. to Boost its Investment Activities
Ulaanbaatar, Mongolia (PRWEB) April 26, 2010 -- The National Venture Capital, LLC (NVC) today announced entering into a partnership and joining VentureChoice Investors' Network to broaden its venture investment activities.
Located in capital city Ulaanbaatar, NVC is the pioneer venture capital firm and largest non banking financial institution in Mongolia. NVC provides a unique financing opportunity to regional startups and growth stage companies.
...
http://www.prweb.com/releases/2010/04/prweb3911704.htm
Deputy Foreign Minister Alexei Borodavkin Meets with Secretary of Mongolia’s National Security Council Tsgaandari Enhtuvshin
April 27 (Russian Foreign Ministry) Deputy Minister of Foreign Affairs of the Russian Federation, Alexei Borodavkin, received on April 26 the Secretary of Mongolia’s National Security Council, Tsgaandari Enhtuvshin, who is visiting Moscow at the invitation of Nikolai Patrushev, Secretary of the Security Council of the Russian Federation.
...
http://www.ln.mid.ru/brp_4.nsf/e78a48070f128a7b43256999005bcbb3/9dbd06c97a029795c325771200537481?OpenDocument
Hunnu Coal comments on President of Mongolia’s action on new mining licences
April 28 (Fortbridge) Hunnu Coal (ASX: HUN) advises that the company supports the recent decision by the Mongolian President to improve the licensing process in the country.
(Mogi's note: Iron Mining owns 53 percent of Mongolian iron ore mine Eruu Gol. Local partner Dornyn Gobi LLC holds the remaining 47 percent. Previously CIC invested $700mln, Temasek & Hopu $300 mln in Iron Mining International (then Hong Kong Lung Ming Investment Holding.
more on this: http://www.reuters.com/
Dornyn Gobi LLC's profile on Chamber of Commerce:
http://202.131.237.118:8080/
)
http://uk.reuters.com/article/
The National Venture Capital, LLC Teams up with VentureChoice, Inc. to Boost its Investment Activities
Ulaanbaatar, Mongolia (PRWEB) April 26, 2010 -- The National Venture Capital, LLC (NVC) today announced entering into a partnership and joining VentureChoice Investors' Network to broaden its venture investment activities.
Located in capital city Ulaanbaatar, NVC is the pioneer venture capital firm and largest non banking financial institution in Mongolia. NVC provides a unique financing opportunity to regional startups and growth stage companies.
...
http://www.prweb.com/releases/
Deputy Foreign Minister Alexei Borodavkin Meets with Secretary of Mongolia’s National Security Council Tsgaandari Enhtuvshin
April 27 (Russian Foreign Ministry) Deputy Minister of Foreign Affairs of the Russian Federation, Alexei Borodavkin, received on April 26 the Secretary of Mongolia’s National Security Council, Tsgaandari Enhtuvshin, who is visiting Moscow at the invitation of Nikolai Patrushev, Secretary of the Security Council of the Russian Federation.
...
http://www.ln.mid.ru/brp_4.
Hunnu Coal comments on President of Mongolia’s action on new mining licences
April 28 (Fortbridge) Hunnu Coal (ASX: HUN) advises that the company supports the recent decision by the Mongolian President to improve the licensing process in the country.
Following Mongolian President Tsakhia Elbegdorj’s decision to temporarily suspend the issuance of new mining licenses in Mongolia, Hunnu Coal (ASX: HUN) has announced that it fully supports the decision by the President to improve the licensing process in the country’s exploration and mining sector.
...
http://announcements.
Lotus reaches settlement with Habsburg
April 28 (Business Financial Newswire) - Mongolia-focused mining firm Lotus Resources has reached a settlement with Habsbur over monies that were contractually due, but not paid, for 7,042,253 shares issued to Habsburg under a subscription agreement.
...
Lotus chief executive Simon Longworth, founding shareholder Nigel Clark and James Rodriguez de Castro have acquired the settlement shares.
...
http://www.bfnnews.com/display/?id=3836131§ionId=standardNews
Centerra has profit; says no halt in Kyrgyz ops
NEW YORK, April 28 (Reuters) - Centerra Gold (CG.TO) reported a quarterly profit on Wednesday versus a year- earlier loss, helped by higher production and gold prices, and affirmed its production outlook for the year.
...
http://uk.reuters.com/article/idUKN2821845320100429
Canadian Stocks Decline as S&P Cuts Portugal, Greece Ratings
April 27 (Bloomberg) -- Canadian stocks fell for the first time in seven days after energy and financial companies dropped as Standard & Poor’s ratings cuts spurred concern that debt defaults in Europe will slow economic growth.
Lotus chief executive Simon Longworth, founding shareholder Nigel Clark and James Rodriguez de Castro have acquired the settlement shares.
...
http://www.bfnnews.com/
Centerra has profit; says no halt in Kyrgyz ops
NEW YORK, April 28 (Reuters) - Centerra Gold (CG.TO) reported a quarterly profit on Wednesday versus a year- earlier loss, helped by higher production and gold prices, and affirmed its production outlook for the year.
...
http://uk.reuters.com/article/
Canadian Stocks Decline as S&P Cuts Portugal, Greece Ratings
April 27 (Bloomberg) -- Canadian stocks fell for the first time in seven days after energy and financial companies dropped as Standard & Poor’s ratings cuts spurred concern that debt defaults in Europe will slow economic growth.
...
Ivanhoe Mines Ltd., which is building a copper and gold mine in Mongolia, sank 6 percent to C$16.73. The Asia country put a freeze on new mining licenses and transfers of existing permits.
...
Gold producers helped the S&P/TSX avoid a further dive as investors looked for an alternative to holding currencies. The metal advanced to a two-week high.
...
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aiIbDpNd3Zv0
MCC 2009 net meets forecast, Q1 net up 24 pct
HONG KONG, April 28 (Reuters) - Metallurgical Corp of China (MCC) (1618.HK)(601618.SS), a construction and engineering firm, on Wednesday met analyst forecasts with a 42 percent profit rise for 2009, and said it will look to overseas expansion to help drive revenues this year.
Ivanhoe Mines Ltd., which is building a copper and gold mine in Mongolia, sank 6 percent to C$16.73. The Asia country put a freeze on new mining licenses and transfers of existing permits.
...
Gold producers helped the S&P/TSX avoid a further dive as investors looked for an alternative to holding currencies. The metal advanced to a two-week high.
...
http://www.bloomberg.com/apps/
MCC 2009 net meets forecast, Q1 net up 24 pct
HONG KONG, April 28 (Reuters) - Metallurgical Corp of China (MCC) (1618.HK)(601618.SS), a construction and engineering firm, on Wednesday met analyst forecasts with a 42 percent profit rise for 2009, and said it will look to overseas expansion to help drive revenues this year.
...
MCC said it would use part of its IPO proceeds of about $5.12 billion to pay for mining rights in Afghanistan, Argentina and Pakistan, and for iron and steel projects in Australia, India, Vietnam and Mongolia.
...
http://uk.reuters.com/article/idUKTOE63Q04Y20100428
S3 Investment Company Announces Monseka Mining Corp. as New Redwood Capital Client
DANVILLE, Calif., Apr 28, 2010 (GlobeNewswire via COMTEX) -- S3Investment Company, Inc. (Other OTC:SIVC) today announced that the newest client of its wholly owned Redwood Capital subsidiary is Monseka Mining Corporation, which was founded to become a world class multi-mineral provider focused on the production of tungsten, tin, molybdenum and bismuth.
...
Monseka Mining, which has a successful track record analyzing mines for major mining companies in Mongolia, Australia, Indonesia, Papua New Guinea, and Vietnam, ...
MCC said it would use part of its IPO proceeds of about $5.12 billion to pay for mining rights in Afghanistan, Argentina and Pakistan, and for iron and steel projects in Australia, India, Vietnam and Mongolia.
...
http://uk.reuters.com/article/
S3 Investment Company Announces Monseka Mining Corp. as New Redwood Capital Client
DANVILLE, Calif., Apr 28, 2010 (GlobeNewswire via COMTEX) -- S3Investment Company, Inc. (Other OTC:SIVC) today announced that the newest client of its wholly owned Redwood Capital subsidiary is Monseka Mining Corporation, which was founded to become a world class multi-mineral provider focused on the production of tungsten, tin, molybdenum and bismuth.
...
Monseka Mining, which has a successful track record analyzing mines for major mining companies in Mongolia, Australia, Indonesia, Papua New Guinea, and Vietnam, ...
...
Mongolia is seen as a new frontier, with significant investment there by some of the largest mining companies in the world. Recent changes in Mongolian legislation make it the most advantageous country in Asia to develop mines.
...
http://www.marketwatch.com/story/s3-investment-company-announces-monseka-mining-corp-as-new-redwood-capital-client-2010-04-28?reflink=MW_news_stmp
Chinese premier proposes boosting economic ties with Mongolia
BEIJING, April 28 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday
proposed greater economic and trade cooperation with neighboring
Mongolia.
"We should sign important economic and trade agreements to lay a solid
legal basis for bilateral cooperation," Wen said while meeting with
Mongolian President Tsakhia Elbegdorj.
...
http://news.xinhuanet.com/english2010/china/2010-04/28/c_13271408.htm
Mickey Rourke to play Genghis Khan
London, April 27. Hollywood actor Mickey Rourke will be playing the role of Genghis Khan in a new movie about the ruler of the Mongol warrior.
...
http://www.dnaindia.com/entertainment/report_mickey-rourke-to-play-genghis-khan_1376221
Mongolian chess master beats World No.1 Koneru Humpy
ULAN BATOR, April 28 (Xinhua) -- Mongolia chess player Mongontuul Batkhuyag defeated current world number one Koneru Humpy from India in the second round of a third stage of the Grand Prix of World Chess Federation (FIDE) in Nalchik city, Russia, the MONTSAME said on Wednesday.
...
http://news.xinhuanet.com/english2010/sports/2010-04/29/c_13271904.htm
Mongolia is seen as a new frontier, with significant investment there by some of the largest mining companies in the world. Recent changes in Mongolian legislation make it the most advantageous country in Asia to develop mines.
...
http://www.marketwatch.com/
Chinese premier proposes boosting economic ties with Mongolia
BEIJING, April 28 (Xinhua) -- Chinese Premier Wen Jiabao on Wednesday
proposed greater economic and trade cooperation with neighboring
Mongolia.
"We should sign important economic and trade agreements to lay a solid
legal basis for bilateral cooperation," Wen said while meeting with
Mongolian President Tsakhia Elbegdorj.
...
http://news.xinhuanet.com/
Mickey Rourke to play Genghis Khan
London, April 27. Hollywood actor Mickey Rourke will be playing the role of Genghis Khan in a new movie about the ruler of the Mongol warrior.
...
http://www.dnaindia.com/
Mongolian chess master beats World No.1 Koneru Humpy
ULAN BATOR, April 28 (Xinhua) -- Mongolia chess player Mongontuul Batkhuyag defeated current world number one Koneru Humpy from India in the second round of a third stage of the Grand Prix of World Chess Federation (FIDE) in Nalchik city, Russia, the MONTSAME said on Wednesday.
...
http://news.xinhuanet.com/
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