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Friday, November 6, 2015
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Headlines in Italic are ones modified by Cover Mongolia from original
Announcement made after market close, TRQ closed -2.05% Thursday to US$2.86
Turquoise Hill Announces Financial Results and Review of Operations for the Third Quarter of 2015
VANCOUVER, BC--(Marketwired - November 05, 2015) - Turquoise Hill Resources today announced its financial results for the quarter ended September 30, 2015. All figures are in US dollars unless otherwise stated.
HIGHLIGHTS
· Oyu Tolgoi achieved a strong safety performance with an All Injury Frequency Rate of 0.31 per 200,000 hours worked for the nine months ended September 30, 2015.
· Oyu Tolgoi recorded revenue of $431.7 million in Q3'15 on sales of 226,000 tonnes of concentrate, a 2.5% increase over Q2'15, reflecting higher sales volumes partially offset by lower copper prices.
· Turquoise Hill reported income from continuing operations attributable to shareholders of $44.0 million.
· In Q3'15, a non-cash charge of $76.4 million was recorded within operating expenses for provision against non-current ore stockpile inventory.
· Turquoise Hill generated operating cash flow before interest and taxes of $171.7 million during Q3'15.
· Oyu Tolgoi's Q3'15 mine production was at record levels while concentrate produced and contained copper were on par with Q2'15 even considering the planned concentrator shutdown in July 2015.
· During Q3'15, mined production increased 8.5% over Q2'15 due to shorter hauling routes and ongoing productivity initiatives.
· Copper in concentrates for Q3'15 increased 1.3% due to higher head grades while gold in concentrates decreased 48.3% over Q2'15 due to slower than anticipated access to gold-rich ore.
· Increased copper and gold production is expected in Q4'15 compared to Q3'15 as higher-grade ore is accessed in the open pit.
· Turquoise Hill continues to expect Oyu Tolgoi to produce 175,000 to 195,000 tonnes of copper and 600,000 to 700,000 ounces of gold in concentrates in 2015.
· In August 2015, Oyu Tolgoi filed revised schedules for the 2015 Oyu Tolgoi Feasibility Study with the Mongolian Minerals Council.
· Underground pre-start activities are underway in parallel with an update to the feasibility study capital estimate, which is expected to be completed in Q1'16.
· Turquoise Hill continues to expect signing of project financing by the end of 2015 and the decision for underground construction in early Q2'16.
· Capital expenditure for 2015 is now expected to be approximately $120 million, of which approximately $115 million relates to sustaining capital, due to operational efficiencies, changes to the mine plan during the year and capital optimization.
· Operating cash costs for 2015 are now expected to be approximately $900 million reflecting operational improvements throughout the year and excluding one-time costs related to the May 2015 underground agreement (Mogi: ummm, how much did it take to sign the deal?) as well as pre-start costs for underground development.
· Sales contracts have been signed for more than 80% of Oyu Tolgoi's expected 2016 concentrate production.
· In September 2015, Oyu Tolgoi surpassed 1.5 million tonnes of concentrate shipped.
· Turquoise Hill's cash and cash equivalents at September 30, 2015 were $1.3 billion.
…
1878 closed -6.06% Thursday to HK$2.48
SouthGobi Resources Announces Appointment of New Independent Non-Executive Director
HONG KONG, CHINA--(Marketwired - Nov. 5, 2015) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) ("SouthGobi" or the "Company") today announces appointment of Mr. Mao Sun as an independent non-executive director and chairman of Audit Committee of the Company, effective November 5, 2015.
Mr. Sun, age 39, is currently a partner of SunRunkai LLP. Mr. Sun is a member of the Institute of Chartered Accountants of British Columbia and a member of Canadian Tax Foundation. Mr. Sun has over ten years of experience in the accounting sector and he has extensive knowledge of Canadian accounting standards, International Financial Reporting Standards and Canadian taxation laws. He has served corporate clients in various industries including mining, real estate, manufacturing and technology. Mr. Sun also has extensive experience with Canadian listed companies and was the director and chairman of audit committee of Yalian Steel Corporation from 2012 to 2013 and has been the chief financial officer of HFX Holding Corp since 2014. Prior to founding SunRunkai LLP, Mr. Sun was the audit manager in Vancouver office of KPMG, an internationally recognized accounting firm.
Mr. Sun graduated from Columbia University in New York with a Master Degree of International Affairs, International Finance and Business. He also has a Bachelor Degree in Computer Science from Nanjing University, China.
ERD closed -3.7% Thursday to C$0.13
MIBG Updates Equity Research on Erdene Resource Development
Last week, we told you about the most exciting investment in Mongolia...
November 5 (Mongolian Investment Banking Group) Naturally, we discussed the merits of the company, Erdene (TSX:ERD), and the management team's nearly 20 years experience in country.
We also told you why we thought Altan Nar and Erdene's newest discovery, Bayan Khundii, were so exciting.
As promised, this week we're releasing updated Equity Research on Erdene.
In it, we highlight the companies most recent successes, discuss the business and mining environment, and showcase the company's core assets.
If you're not looking for exposure to Mongolia, then Erdene isn't an investment for you. But, if that's true, why are you reading our newsletter?
It's no secret that we've been bullish supporters of Erdene over the years. And based on everything we're seeing, this isn't going to change anytime soon.
Still not convinced?
There are a few key points worth highlighting. But the more robust analysis can be found in the Equity Research Update provided below.
1. Gold
We're big believers in gold; long term, short term, and most importantly as a commodity being produced in Mongolia. Compared to most Mongolian produced commodities, gold has a number of competitive advantages. Not the least of which are domestic consumption and ease of transport. Meaning you don't have to sell across the border.
2. Management
Mongolia is home to a handful of veterans. But, few have had the staying power and the vision that Erdene's CEO, Peter Akerley has demonstrated. Alongside company Chairman, Chris Cowan, Akerley has developed one of the most well respected and resourceful companies in the sector.
3. Assets
As we discussed in our last weekly, Erdene's most recent discovery, along with the Altan Nar discovery zone are incredibly exciting Gold prospects in one of the richest Gold belts in the world. Combine this with the company's copper exploration targets and molybdenum assets and you have a robust portfolio of multiple commodities.
Clearly, we like the story, believe in the management team, and we're excited about their assets.
We hope this updated research will help shed light on our reasons for supporting Erdene, and as always, if you have any questions don't hesitate to contact us.
As promised, here is the updated Equity Research on Erdene Resource Development Corp. from our team at MIBG.
MSE Trading Report: Top 20 -1.15%, Stocks ₮80.1 Million, HRM ₮73.5 Million, T-Bills ₮14.3 Million
November 5 (MSE) --
Government Securities Market Makers' Report, October: BDSec, Tenger Capital, Standard Investment
November 5 (MSE) Regarding the "Market Makers" introduction into securities market by Mongolian Stock Exchange /MSE/, MSE will publish a month Market Makers performance report to the public.
As of 30 October 2015, total of 1,286 order of the Government retail bonds have been planned to submit and performance of Market Makers shows following results "BDSec"-69.6%, "Standard Investment"-12.8% and "Tenger Capital"-50.8%
As of 30 October 2015
№ | Securities company | Orders planned to submit | Orders submitted | Percentage |
1 | BDSec | 1286 | 895 | 69.6 |
2 | Standard Investment | 1286 | 146 | 12.8 |
3 | Tenger Capital | 1150 | 653.5 | 50.8 |
Historic low ₮1,997.26/USD set September 11
BoM MNT Rates: Thursday, November 5 Close
| | 11/5 | 11/4 | 11/3 | 11/2 | 10/30 | 10/29 | 10/28 | 10/27 | 10/26 | 10/23 | 10/22 | 10/21 | 10/20 | 10/19 | 10/16 |
| USD | 1,993.15 | 1,992.52 | 1,992.84 | 1,992.09 | 1,991.67 | 1,990.43 | 1,992.12 | 1,991.30 | 1,993.26 | 1,991.70 | 1,992.26 | 1,991.98 | 1,991.22 | 1,992.53 | 1,992.78 |
| EUR | 2,159.78 | 2,179.82 | 2,196.91 | 2,200.46 | 2,188.55 | 2,174.54 | 2,200.89 | 2,200.59 | 2,201.46 | 2,212.68 | 2,253.54 | 2,264.68 | 2,259.14 | 2,262.12 | 2,265.99 |
| GBP | 3,065.86 | 3,074.06 | 3,076.94 | 3,074.89 | 3,054.43 | 3,038.39 | 3,048.24 | 3,055.25 | 3,055.37 | 3,068.31 | 3,077.05 | 3,075.02 | 3,083.60 | 3,081.25 | 3,082.73 |
| RUB | 31.40 | 31.74 | 31.24 | 31.24 | 30.89 | 31.04 | 30.46 | 31.37 | 31.89 | 32.14 | 31.67 | 31.71 | 32.05 | 32.43 | 32.49 |
| CNY | 314.10 | 314.45 | 314.55 | 314.22 | 314.95 | 313.12 | 313.38 | 313.42 | 313.81 | 313.20 | 313.48 | 313.93 | 313.59 | 313.36 | 313.76 |
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 ₮1,994), XacBank (Buy ₮1,988 Sell ₮1,995), State Bank (Buy ₮1,986 Sell ₮1,995)
MNT vs USD (blue), CNY (red) in last 1 year:
FX Reserves Plunge 18.3% in September to US$1.4 Billion
Date | Gross Reserves | Monthly, % | YTD, % | YOY, % |
2015/09 | 1412.7 | -18.28 | -14.38 | -8.42 |
2015/08 | 1728.7 | 1.26 | 4.77 | 27.05 |
2015/07 | 1707.2 | 1.28 | 3.47 | 26.52 |
2015/06 | 1685.6 | 5.95 | 2.16 | 27.94 |
2015/05 | 1591.0 | 25.55 | -3.57 | -0.84 |
2015/04 | 1267.3 | -4.28 | -23.19 | -30.44 |
2015/03 | 1323.9 | -2.83 | -19.76 | -31.87 |
2015/02 | 1362.5 | 2.61 | -17.42 | -37.94 |
2015/01 | 1327.8 | -19.53 | -19.53 | -45.72 |
2014/12 | 1649.9 | 22.03 | -26.60 | -26.60 |
2014/11 | 1352.1 | -3.29 | -39.85 | -41.46 |
2014/10 | 1398.1 | -9.37 | -37.81 | -41.48 |
2014/09 | 1542.7 | 13.38 | -31.37 | -42.43 |
BoM FX auction: US$6.15m sold at ₮1,992.5, CNY12.5m at ₮313.75, accepts $15m USD, $10.3m MNT swap offers
November 5 (BoM) On the Foreign Exchange Auction held on November 5th, 2015 the BoM has received bid offers of USD 11.15 million in a rate between MNT 1991.00-1993.80 and CNY 29.1 million in a rate between MNT 313.01-314.21 from local commercial banks. The BoM sold USD 6.15 million in a rate of MNT 1992.50 and CNY 12.5 million in a rate of MNT 313.75.
On October 5th, 2015, The BoM has received USD Swap agreement selling bid offer equivalent to USD 15.0 million and MNT Swap agreement buying bid offer equivalent to USD 10.3 million from local commercial banks and the BoM has accepted the offers.
GoM holds unscheduled treasury auction, sells ₮33.7 billion 52-week 14.674% discounted bills
November 4 (BoM) Auction for 52 weeks maturity Government Treasury bill was announced at face value of 35.0 billion MNT. Face value of 33.7 billion /out of 48.7 billion bid/ Government Treasury bill was sold at discounted price and with weighted average yield of 14.674%.
…
GoM Treasury Auction: ₮10 Billion 28-Week 13.871% Discounted Bills Sold with ₮25 Billion Bids
November 4 (BoM) Auction for 28 weeks maturity Government Treasury bill was announced at face value of 10.0 billion MNT. Face value of 10.0 billion /out of 25.0 billion bid/ Government Treasury bill was sold at discounted price and with weighted average yield of 13.871%.
…
GoM Receives No Bids for ₮10 Billion 5-Year Bond Auction
November 4 (BoM) Auction for 5 years maturity Government Bond was announced at face value of 10 billion MNT and each unit was worth 1 million MNT. The Government bond was not sold the due to absence of both competitive and noncompetitive bids.
Mongolia, China to Sign $1B Loan for Energy, Road Projects
November 5 (Bloomberg) -- China and Mongolia will sign deal for $1b loan from China's Export-Import Bank to fund energy and road projects when President Elbegdorj visits next week, says Kherlen Gombosuren, a staffer at the Press and Public Relations Department of Secretariat.
* Loan agreement was authorized by Standing Committee on Security and Foreign policy
* Portion of loan to be used to fund Egiin Gol Hydropower station, with remaining funds to be used on other projects including power transmission lines, road construction and expansion of Erdenet coal-fired power plant: Kherlen
(BFW)
EBRD Lowers Mongolia's 2015 GDP Forecast to 3.3% from 4%, Upgrades 2016 to 5% from 3%
EBRD economies split by conflicting forces
November 5 (EBRD) The outlook for economies where the EBRD invests remains split, with countries further to the east weighed down by the Russian recession and weak oil and other commodity prices.
Regions further to the west are benefitting from a eurozone upturn and the impact of accommodating European Central Bank monetary policies.
According to the EBRD's latest Regional Economic Prospects report, growth in the region as a whole is expected to slow to just 0.2 per cent this year, from 1.8 per cent in 2014. Moderate growth of 1.6 per cent is expected in 2016. These forecasts are unchanged from May, but they mask regional differences[1].
The Ukrainian economy, for example, is now expected to contract by 11.5 per cent this year, a deterioration of four percentage points since the May outlook.
Hans Peter Lankes, the EBRD's acting chief economist, said, "We may be looking now for something of an upturn in 2016 after five consecutive years of slowdown. But there are significant risks on the downside."
The report cites as risks a sharper than expected slowdown in China, a stronger-than-expected increase in US interest rates, political instability and geopolitical tensions and an uneven implementation of the bailout programme in Greece.
The report notes that the refugee crisis that intensified sharply in 2015 is affecting the economies of a number of countries.
Among "frontline" countries, Turkey is estimated to be hosting more than two million refugees, while in Jordan they account for almost one-fifth of the population. This massive influx has in some cases strained public services, government finances and labour markets.
Transit countries in south eastern Europe which have provided medical and social care, food, water, and accommodation for refugees are facing logistical and fiscal challenges.
…
Real GDP Growth ( Forecasts as of 05 November 2015)
Actual | Current | Current | EBRD Forecast in September 2015 | EBRD Forecast in September 2015 | EBRD Forecast in May 2015 | EBRD Forecast May 2015 | |
2014 | 2015 | 2016 | 2015 | Change Sept.-Jan. | 2016 | Change May-Nov | |
EBRD Region | 1.8 | 0.2 | 1.6 | 0.2 | 0.0 | 1.6 | 0.0 |
Central Europe and the Baltic states | 3.1 | 3.0 | 2.9 | 3.0 | 0.0 | 3.0 | -0.1 |
Mongolia | 7.8 | 3.3 | 5.0 | 4.0 | -0.7 | 3.0 | 2.0 |
…
The Asia Foundation and Australian Government Partnership Releases New Paper on Mongolia's Informal Economy
San Francisco, October 29, 2015 (The Asia Foundation) — Through its partnership with the Australian Government Department of Foreign Affairs and Trade (DFAT), The Asia Foundation today released the latest paper in the Partnership Working Paper series. The third paper in the series, The Informal Economy in Ulaanbaatar: Policy Options to Promote Growth in the Ger Areas, focuses on the economic environment in Ulaanbaatar's unplanned settlements.
With city leadership committed to accelerating inclusive growth to spur overall development, greater attention to the informal economy, its role in the city's overall economy, and how those businesses in the informal sector might develop is essential. Yet, in recent years, minimal research has been done on Ulaanbaatar's informal economy. The paper takes a step toward addressing this important gap, updating some of what is understood about the informal sector, how it engages with the formal economy, and how the sector is currently governed in Ulaanbaatar. In doing so, the report provides preliminary policy recommendations for donors and local actors to consider.
This ongoing DFAT-Foundation Working Paper series will inform the broader international community by helping to better ground discussion in empirical evidence, advance theoretical debates, and ultimately improve development policy and practice across a variety of subject areas.
The aim of the series is to draw on and share the rich lessons being learned through the country and regional programs that are implemented under the DFAT-Foundation partnership. The partnership is a new form of collaboration aimed at supporting program and policy innovation that can improve aid effectiveness in the Asia-Pacific. The primary purpose of the partnership is to develop, test, and promote cost-effective innovations that increase the impact of development assistance and respond to the dynamic and evolving needs of the region. Earlier papers in the series focused on public land disputes in Vietnam and strategic uses of data for urban development in Asian cities.
…
Health Minister G.Shiilegdamba (MPRP) arrested by anti-corruption agency
Ulaanbaatar, November 5 (MONTSAME) The incumbent Minister of Health and Sport G.Shiilegdamba was arrested on November 4 by the Corruption Combating Agency (CCA), the news.mn website said that day.
The Minister has reportedly been accused of corruption. He has been detained in the 461st unit at the General Authority for Implementing Court Decisions.
The CCA has not denied this information.
Mogi: looks like the plenary session didn't happen, I wonder why
Parliament Agenda for Nov 5: Working Group, Standing Committees, Plenary Session
November 5 (gogo.mn) ONE. WORKING GROUP MEETING:
· Draft law on 2016 State Budget, budget law for 2016 Social Insurance Fund, budget law for 2016 Human Development Fund
TWO. STANDING COMMITTEE MEETING:
1. Environment, Food and Agriculture Standing Committee meeting at 08:30AM.
Agenda:
· Draft law on 2016 State Budget, budget law for 2016 Social Insurance Fund, budget law for 2016 Human Development Fund
· Amendments to law on government special funds, annul some articles of law on air, amendments to law on environmental protection, amendments to law on water, amendments to law on air pollution fee and payments, amendments to law on GMO, annul some articles of law on agricultural products, raw material and exchange, annul some articles of law on soil protection and prevention of desertification
· Draft resolution of State Great Hural on approval of State Policy on Food and Agriculture
· To acquaint with report on "Green Gobi" development project which is to improve water supply in Gobi Region and reduce desertification
2. Special Control Sub-Committee meeting at 08.30AM.
3. Budget Standing Committee meeting at 02PM.
Agenda:
· Draft law on 2016 State Budget, budget law for 2016 Social Insurance Fund, budget law for 2016 Human Development Fund
· Operation report for 2016 of the Mongolian State Budget, Amendments to draft law on 2017-2018 budget adjustment;
THREE. PLENARY SESSION MEETING:
AT 02PM:
· Draft Resolution of State Great Hural on Approval of 2016 Monetary Policy Directions
· Draft law on 2016 State Budget, budget law for 2016 Social Insurance Fund, budget law for 2016 Human Development Fund
· Operation report for 2016 of the Mongolian State Budget, Amendments to draft law on 2017-2018 budget adjustment;
· Draft resolution of State Great Hural on approval of loan agreement on Social Welfare Support Program between the Government of Mongolian and Asian Development Bank
· Draft law on approval of loan agreement on Agriculture and Rural Development Project - Additional Financing between the Government of Mongolian and Asian Development Bank
· Draft resolution of State Great Hural on approval of State Policy on Food and Agriculture
Cabinet Secretary holds online meeting with local governors on winter preparation
Ulaanbaatar, November 5 (MONTSAME) Head of the Cabinet Secretariat for Government S.Bayartsogt and his deputy G.Ganbold together with heads of some Ministries and agencies attended Thursday the online weekly meeting with provinces' governors to learn about winter preparation.
They were told that Arkhangai, Sukhbaatar, Tov and Khovd aimags have completed 80-90 percent of the preparation. Others complained about a delay in works planned caused by uncertainty in financing and allowance for teachers.
Bayartsogt said these financing and allowance have been frozen awhile because of a formation of the budgetary revenue, "but the situation will improve within this year". Investments will be resolved in the next turn, added the Ministry of Finance.
The Minister of Food and Agriculture said a proposal on exporting meat to Russia has been conveyed to all enterprises. A preparation is underway to export mutton and beef to China, the Ministry added.
Among other things, Mr Bayartsogt ordered the leaders of the aimags to repair roads and high mountains passes and to focus on successfully overcoming the winter of 2015-2016.
ASEM PR Working Group Discusses Foreign Journalists Accommodation, Media Center
November 5 (gogo.mn) A. Ganbaatar, Public Relations and Policy Advisor to the President of Mongolia, chaired a meeting of Media and Public Relations working group of the 11th ASEM Summit, which he heads, at MONTSAME office on November 2.
ASEM Mongolia Office, Department of Public Diplomacy and Communication of the Ministry of Foreign Affairs and members of the working group attended the meeting. They considered a number of issues including the agreements with partner hotels for accommodating foreign journalists who will cover the Summit, regulation of ASEM media, domestic public relations, and webpage as well as the question of opening a Media Center for the Summit.
It is estimated that 800 to 1000 foreign journalists will come to Mongolia to cover the ASEM Summit. Partner hotels have been already identified and selected that will host the visiting journalists, based on study conducted into the status of hotel, availability of rooms, the capacity of the hotels as well as their past experience in hosting foreign guests and delegates.
A Media Center will be opened at the MONTSAME office with the purpose of providing from one-window a systematic and comprehensible information about the Summit. The working group has instructed relevant officers to ensure that the Media Center starts operating within the first half November this year. The ASEM Mongolian Office web/internet team has also been instructed to expand its operations and to forge working relations with the domestic media, and in addition manage the working of the Media Center.
Anglo American to Close Mongolia Office Amid Global Cost Cuts
By Michael Kohn
November 5 (Bloomberg) -- Anglo American Plc will close office in Ulaanbaatar by end of year to reduce global overhead and operational costs, Group Head of Corporate Communication James Wyatt-Tilby says by e-mail from London.
* NOTE: CEO Mark Cutifani told investors in July that co. would look at overheads, inc. all regional offices
* READ: Anglo American Closes Mozambique Office Amid Cost Cuts
* Co. established office in Mongolia in 2012: Wyatt-Tilby
* Co. doesn't own any mining operations in Mongolia: Wyatt-Tilby
* Anglo American has established "important relationships with key stakeholders" and "looks forward to ongoing engagement as the Mongolian mining industry develops": Wyatt-Tilby
* Co. "continues to believe that Mongolia is highly prospective for a number of key commodities": Wyatt-Tilby
* READ: Anglo Interested in Mongolia's Tavan Tolgoi Coal Mine
* READ: Anglo Taps Hancock to Lead Drive Into Mongolia
(BFW)
Who can be a supplier to Oyu Tolgoi underground development?
November 5 (gogo.mn) Oyu Tolgoi underground suppliers forum was held yesterday /2011.11.04/. Around 600 entities participated in the forum, over half of which are Mongolian.
Journalists at short press conference after the forum asked officials about how many Mongolian people are employed and how many Mongolian companies are selected as suppliers as the underground development starts.
The company has cooperated with 885 suppliers in total as of 3rd quarter of the year, 576 of which are Mongolian entities. Also, 52 percent of total procurement costs are products and services supplied by local companies.
As seen in the graphic, procurement spending has been constantly increasing since the beginning of the year.
CEO and President of Oyu Tolgoi LLC Andrew Woodley cited: "80% of development and service works in the underground will involve Mongolians. The company will contract with companies in below mentioned categories:
· Site services
· Underground refuge
· Ground support
· Drilling
· Process and materials infrastructure
· Pipes and pumps
· Fuel systesm
· Underground mining fleet
· Professional services
· Ventilation
· Steel
· Construction, civil work and materials
· Bulk materials
· Freight and logistics
· Fire services
· Electrical and telecommunications
There are many companies operating in these categories. Thus, in order to select them, we will value following principles, said Andrew Arnett, Manager procurement and contracts, Rio Tinto projects.
First of all, every employee and contractor company of Oyu Tolgoi LLC must have ethics. It is solely enough that you say 'we have ethics'. It must be expressed by your actions.
Secondly, companies should avoid conflict of interests. Personal interests must not conflict with responsibilities to Oyu Tolgoi LLC.
Lastly, Oyu Tolgoi LLC does not tolerate corruption, including bribery and facilitation payments. Also, the company does not make payments to political parties or individual politicians.
Annual "Made in Ulaanbaatar" Expo to Be Held November 20-22, Misheel Expo
November 5 (gogo.mn) "Made in Ulaanbaatar" is traditionally organized every year in order to promote products and services of companies operating in Ulaanbaatar.
The expo will take place on November 20, 21, 22 at Misheel Expot center, which is estimated to involve around 140 small and medium enterprises this year.
Press and Public Media Relations of Ulaanbaatar city administration
President Elbegdorj to pay state visit to China on November 9-11
November 4 (infomongolia.com) The President of Mongolia, Mr. Tsakhia ELBEGDORJ will pay a state visit to China on November 09-11, 2015 at the invitation of the President of the People's Republic of China, Mr. Xi Jinping.
During the visit, President Ts.Elbegdorj will hold official talks with President Xi Jinping and meet with Chairman of the Standing Committee of the National People's Congress of the People's Republic of China, Mr. Zhang Dejiang and Premier of the State Council, Mr. Li Keqian, reports the Press and Public Relations Department of the Ministry of Foreign Affairs.
The China-Russia-Mongolia Trilateral Gains Steam
The Asian trilateral no one talks about is seeing some interesting new developments.
November 6 (The Diplomat) As Diplomat authors have reported, trilateralism is all the rage these days. Ministerial-level dialogues sprinkle the sidelines of multilateral gatherings, and often set the tone for the more comprehensive leaders' summits. For the past two weeks all eyes focused on the highly anticipated China-Japan-South Korea leaders' summit, which concluded this past weekend. But here's another big trilateral that you probably haven't heard much about: China-Mongolia-Russia.
As Russian President Vladimir Putin has remarked himself, cooperation between the three countries only makes sense given their geographic proximity. After their first trilateral summit in September 2014, the three leaders met once more in July 2015. The three countries' three foreign ministers have met twice in the same time frame.
Last week during the first-ever China-Mongolia Expo, the three countries signed a total of ten cross-border tourism cooperation agreements, which were framed as part of ongoing efforts to create an economic corridor linking the three countries. The agreements, worth approximately $220 million, included projects in tourism personnel training, development of tourist routes, and hotel and resort construction.
The economic corridor, meant to boost infrastructural and trade integration overall, is in line with individual policies in all three countries: China's "One Belt, One Road" (OBOR), Russia's Trans-Eurasian Belt Development (TEPR), and Mongolia's Prairie Road program. Earlier this year, Chinese state broadcaster CCTVdubbed the trilateral corridor the "lifeline of the [OBOR] aorta."
Naturally, the significance of the trilateral goes much deeper than a marriage of economic convenience. Perhaps the main reason that this trilateral makes sense — beyond simple geography — is that the three countries feel solidarity in having all transformed from socialist planned economies, and need each other to advance the developing nations' voice in a world where they are increasingly told to take on heavier global responsibilities.
For Mongolia, establishing a regular formal dialogue with its two much more powerful neighbors increases its visibility in Asian diplomacy and fits perfectly with President Tsakhiagiin Elbegdorj's ambitious international aspirations. Moreover, increasing engagement with Russia and China in a so-called 'rebalance' is a prudent tactical move to solidify its overall "third neighbor" strategy. Having gone through a significant economic downturn in recent years, Mongolia needs a strong economic base to reinvigorate its flexibility in foreign policy maneuvers with other nations. For instance, as Ulaanbaatar-based Central Asia specialist Gungaa Bazarvaani explains, Mongolia must foster stronger relations with China if it wants to improve access to Chinese ports, and thus open new markets for Mongolian exports.
China and Russia are more than happy to oblige. Russia is increasingly looking at its southern partners to build diplomatic alliances in light of recent alienation from the West. China's enthusiasm for engagement is no doubt partly attributed to wanting to balance U.S. interests in the region by developing its own geopolitical sphere of influence. One fact that concerns some Chinese policymakers is that while China remains Mongolia's largest trading partner, the U.S. has significant defense ties with the country.
There are also signs of possible trilateral cooperation beyond security and economics. In their first trilateral meeting, Chinese President Xi Jinping pushed for greater trilateral cooperation on think tanks, media, environmental protection and disaster prevention and relief in addition to the obvious economic mechanisms.
Foreign Minister delivers statement at UNESCO General Conference
November 5 (gogo.mn) The 38th Session of the General Conference of the United Nations Educational, Scientific and Cultural Organization started on 3rd November of 2015 in Paris. On this occasion, UNESCO will celebrate it's 70th anniversary.
H.E Mr. L.Purevsuren, Minister of Foreign Affairs of Mongolia and Chairman of the National Commission, leading the Mongolian delegation, delivered a statement at the General Policy debate of the General Conference on November 4th. In his statement, H.E Mr. L.Purevsuren reported on the achievements of UNESCO and the strength of the relations between UNESCO and Mongolia during the past 70 years. H.E. further developed the positions of Mongolia on the goals of UNESCO in the fields of education, culture, science, as well as information and communication. He also reported on the participation and policy of the Mongolian Government on these issues.
The 38th Session of the General Conference of UNESCO ends on 18th of November. The Report by the Director General on UNESCO's action for the 2013-2015 period and the 2015-2017 budget will be adopted during the session. The elections to the Executive Board of the UNESCO, World Heritage Committee and other intergovernmental committees also will be held.
Mogi: on fundraising tour
L. Purevsuren at ASEM Foreign Ministers' Meeting in Luxembourg
Ulaanbaatar, November 5 (MONTSAME) A delegation of Mongolia led by the Minister of Foreign Affairs L.Purevsuren is taking part in the 12th ASEM Foreign Ministers' Meeting (ASEM FMM12) which kicked off Thursday in Luxembourg.
Themed "Working Together for a Sustainable and Secure Future", the meeting brought together FMs, Vice FMs and State Secretaries of 53 countries such as Russia, China, France, Germany, also from European Union (EU), the Republic of Korea, India, the ASEAN, and Mongolia. Purevsuren arrived Wednesday in Luxembourg and met Ms Federica Mogherini, the High Representative of the European Commission's Union for Foreign Affairs and Security Policy, and Mr Werner Hoyer, a president of the European Investment Bank (EIB). He also had meetings with those who participated in the Meeting of Young Leaders organized by the Asia-Europe Foundation.
At the ASEM Foreign Ministers' meeting, Purevsuren will address meetings on the 2030 agenda for sustainable development, on management on reducing damages caused by climate changes and natural disasters; on Asia-Europe Union and the ASEM's future, and will hold bilateral meetings.
On the second day of the meeting, Mongolian cultural measures will be organized to promote a heritage of our national arts and culture.
Ambassador to Australia Shares Focus of Mongolia's Incoming Chairmanship of IDEA
November 5 (Embassy of Mongolia to Australia) November 4, Canberra, H.E. Mr. Batlai Chuluunhuu, Ambassador of Mongolia to Australia, has attended the working luncheon hosted by Swiss Ambassador Marcel Stutz to Australia on the occasion of the Swiss Chair of the IDEA International. Ambassador exchanged views with Ambassadors of Belgium, Indonesia, PNG and Finland, Nuncio of Vatican and the IDEA Asia-Pacific Regional Director Mrs. Leena Rikkilä Tamang. Ambassador also briefed the guests on the thematic focus of Mongolia's incoming Chairmanship of the IDEA International in 2016.
Press Conference Held on Presenting Newly Amended Defense Policy of Mongolia
Ulaanbaatar, November 5 (MONTSAME) The parliamentary Standing committee on security and foreign policy and the Ministry of Defense Thursday called a press conference on the fundamentals of defense policy of Mongolia, which has been approved by parliament recently.
Adopted in 1998 Fundamentals of Military Policy of State had needed an amendment due to changes in foreign environments, politics and social-economy spheres, and legal reforms, for this reason parliament passed the President-initiated Fundamentals of Defense Policy of Mongolia, said N.Enkhbold MP.
With 32 clauses in four articles, the Fundamentals upgrade the legal basis of Mongolian defense and create legal chances to amend relevant laws on defense, "the defense policy has been based on the Constitution of Mongolia and on national fundamental interests reflected in the National Security Concept," he went onl.
Both domestic and external security environment will be the basis of determining goals, principles and directions of Mongolia's defense, he said.
One of the characteristics of the new document on defense is to make the defense policy more specific in social-economic directions in order to ensure a sustainable development of Mongolia and to strengthen the defense capability, added Ts.Tsolmon, the Minister of Defense.
The "Fundamentals of Defense Policy" has been formulated by taking into a consideration the domestic and world's situations. It also designs new goals of our Armed Forces, said retired Lieutenant-General Ts.Dashzeveg, a researcher at the Institute of Defense Sciences.
17th Consular Meeting Held Between Mongolia and China
November 5 (news.mn) The 17th Consular Meeting between the Mongolian and Chinese Ministries of Foreign Affairs took a place on 28th-30th October in Ulaanbaatar. The meeting was led by the acting Deputy Director at the Consular Department of the Mongolian MFA, B.Bold, and from the Chinese side, by representatives headed by the Deputy Director at the Department of Consular Affairs at the Chinese MFA. Several official agreements were signed. After the meeting, the Chinese representatives were received by the State Secretary of the Mongolian MFA, D.Gankhuyag.
Labor Ministry, Oyu Tolgoi and GIZ sign MOU on Improving Vocational Training Centers
November 5 (gogo.mn) Today Ministry of Labor, Oyutolgoi LLC and GIZ signed Memorandum of Cooperation which is to valid until 2019 at State House.
Signing ceremony was attended by the Ministry of Labor G.Bayarsaihan, President & Chief Executive Officer of OT Mr. Andrew Woodley and Country Director at GIZ Office Ulaanbaatar Mrs. Ulrike Ebeling.
In scope of the Memorandum, many issues related to labor market including preparation for skilled specialists and improving traning centers and schools to be solved jointly.
World Bank to invest $30 million in reforming quality of education in Mongolia
November 5 (gogo.mn) With a financial assistance from World Bank, Ministry of Education, Culture and Science set to implement the project called "Reform of Education Quality" in order to support providing high-quality education to elementary school and to intensify implementation of curriculum program.
Namely, the project will be worth of USD 30 million, which is about providing language, mathematics and scientific textbooks to schools, supporting school scholarships, developing education evaluation system, preparing elementary school teachers and organizing teachers' program.
During the project opening ceremony, Minister of ECS L.Gantumur said: "The project will be fundamental to improve education standards leading to Mongolian development and to prepare qualified professionals who can walk along rapidly changing environment."
Also, it will not be a easy task to advance education standards into new level, so that the implementation of the project at such crucial time would bring more benefits to the sector."
All primary schools in Mongolia will benefit from the project as a result.
How One Woman Changed The Way People Die In Mongolia
November 5 (NPR) Dr. Odontuya Davaasuren has one goal: to improve the way people die in Mongolia.
"My father died of lung cancer, my mother died, my mother-in-law died because of liver cancer," she says. "Even though I was a doctor, I could do nothing."
The feeling of helplessness, and the unnecessary pain her relatives suffered, is what Davaasuren has set out to fix. She has white hair because of it, says the family doctor and professor at the Mongolian National University of Medical Sciences in Ulaanbaatar. "It's very hard work."
Her efforts have earned her the title "the mother of palliative care in Mongolia." And they've transformed the way people die.
In global rankings on quality of death released this fall by the Economist Intelligence Unit, Mongolia stood out. It's number 28 on the list. "Some countries with lower income levels demonstrate the power of innovation and individual initiative," the report noted, citing Mongolia for "rapid growth in hospice facilities and teaching programs."
That's no small feat, regardless of a country's income level. Palliative care is a relatively new field. Funding tends to go toward combating infectious diseases, rather than towards easing the pain for those who have incurable illness. Hospitals might not want to consider offering hospice care, because it would simply increase the number of deaths that happen on their watch. And globally, doctors and law enforcement officers fear morphine, which happens to be one of the cheapest and most effective painkillers.
Most Mongolians die from noncommunicable illnesses like heart disease, cancer, and diabetes. The country is huge and sparsely populated, so most people die at home. About a third of the population lives under the poverty line. The monthly salary of a nurse is around $100. But the progress on end-of-life care that Mongolia has made contrast sharply to the situation in neighboring Russia, a country with some of the most restrictive drug regulations, and where Human Rights Watch says the government has barred journalists from reporting on suicide committed by cancer patients in severe pain.
In Mongolia, as in many other countries, there used to be two options for terminally ill people on their deathbeds: stay at home or go to the intensive care unit, or ICU. A bad death, Davaasuren says, is to die in the ICU, connected to machines, alone, watching the white hospital ceiling, and getting lab tests every few hours. "In the intensive care unit, patients are swaddled by machines and tubes. It's a stupid death. It's a really bad death," she says.
American surgeon and writer Dr. Atul Gawande agrees. Even in the U.S., he writes in his best-seller Being Mortal, "You don't have to spend much time with the elderly or those with terminal illness to see how often medicine fails the people it is supposed to help. The waning days of our lives are given over to treatments that addle our brains and sap our bodies for a sliver's chance of benefit. These days are spent in institutions — nursing homes and intensive-care units — where regimented, anonymous routines cut us off from all the things that matter to us in life."
In the ICU, says Davaasuren, "even if all signs show that the patient will die," all kinds of tests and treatments are given in the name of survival, even if it dims the quality of life. It used to be that the only alternative was to die at home, sometimes in pain. But a good death, says Davaasuren, is "being comfortable, being with loved people, listening to good words. Even an unconscious person listens, because hearing stops last."
Davaasuren first learned about palliative care in Sweden in 2000.
Back then, she says, there wasn't even terminology for palliative care in her country. She's now the president of the Mongolian Palliative Care Society and has worked to change things.
After the conference in Sweden, she and her students visited patients with severe diagnoses and filmed their conversations. "During these visits I saw so much suffering, so many problems. Not just physical pain – psychological problems, financial problems, spiritual," she says. A woman with two small children had such severe pain she asked to die. A man in his 30s committed suicide when he was left in unbearable pain after his allotted two-day supply of morphine was up. Families spent fortunes, she says, in search of alternative treatment and medication. "They went to Korea, went to China, looking for better treatment," she says.
Davaasuren eventually spoke on national TV in the early 2000s about the lack of palliative care in Mongolia, saying that according to WHO recommendations Mongolia was in need of 150 palliative care beds. It had zero. "I had very strong words to the Ministry of Health," she says.
"When I started to talk about it, many people in the Ministry of Health told me 'What are you talking about? We have no money for living patients, why do you want to spend money for dying patients?" she says.
Bit by bit, she and her colleagues have managed to turn the tide. Davaasuren and her colleagues translated international publications on palliative care into Mongolian. A grant in 2004 from the Open Society Foundation helped them start courses for nurses and doctors. They worked to change prescription rules so that suffering patients could get cheap painkillers. She brought a hospice doctor from California and a hospice nurse from Virginia to train health workers on palliative care.
Now, poor families taking care of a terminally ill person can get about 36,000 tugrik [$18] each month from the government until the patient dies. "It's very small but still supportive," says Davaasuren.
"Before in Mongolia we had the wrong drug regulation," she says. It used to be that only oncologists could prescribe morphine, and they could give a maximum of ten doses to a patient. Studies on cancer patients before 2000 found that they often died within a month after getting the painkillers – and the incorrect assumption was that the morphine killed them, says Davaasuren.
The country started importing oral morphine tablets in 2006. There is now one pharmacy in each of Mongolia's 21 provinces with the right to distribute opioids. Before, there was only one. (Because of international regulations, the drugs have to be kept locked up and under security camera surveillance.) At least two people in each province – usually a family doctor and a nurse who are trained in palliative care – can prescribe opioids. "Now oncologists, family doctors have the right to prescribe opioids according to the patient's needs, every seven days until death," she says.
In 2000, writes Davaasuren, Mongolia as a whole only used two pounds of morphine a year. By 2004, it was 13 pounds. Last year, according to the Ministry of Health, the country imported a combined 48 pounds of opioid painkillers. A Mongolian company now produces morphine, codeine and pethidine and will this year start producing oxycodone.
There are about 60 beds designated for palliative care in the capital alone. Last month, the Ministry of Health signed off on plans to provide 596 palliative care beds across the country by 2017. The goal now, says Davaasuren, is to extend palliative care to non-cancer patients and to terminally ill children — and to redefine a good death as a success. "Hospitals don't like to have palliative care patients because if patients die, it increases the death rate in their hospital," she says. She's working to get palliative care deaths registered outside of the hospital system.
Davaasuren continues to teach courses to medical students on topics like pain management and how to break bad news. Because sooner or later, she says, "each family will face this problem."
"Mongolian people say we have one truth," she adds. "If we are born on this earth, we will die one day."
Deputy PM reports on winter preparations, heavy snow expected in December
Ulaanbaatar, November 5 (MONTSAME) By the governmental resolution, obligations have been given to the capital city, districts, provinces and soums to prepare 29.4 thousand tons of hay and 11.1 thousand tons of fodder for emergency reservation, said the deputy PM Ts.Oyunbaatar at this traditional meeting Thursday.
Gobisumber, Darkhan-Uul, Orkhon, Omnogobi, Dornogobi and Khentii aimags have prepared the hay and fodder very well. Pasture lands have been overused in Uvs, Bayan-Olgii, Arkhangai, Ovorkhangai, Bulgan, Bayankhongor, Khovd, Gobi-Altai, Khovsgol, Tov and Khentii aimags, which means that 3.5 million heads of livestock belonging to 15 thousand families of these aimags will overcome winter time in transhumance lands near borders of the aimags, the state border lines and in protected areas under contracts, he went on.
As the Minister of Energy ordered, a working group has been set up in charge of ensuring reliable operations of the general system of energy, overcoming winter of 2015-2016 with less difficulties, and carrying out necessary measures in case of difficulties in winter., he said.
In frames of the preparation for winter, one thous.700 types of work have been planned, over 90 percent of them have been fulfilled, the Deputy Premier stressed.
According to weather forecast by the Meteorology and Hydrology, more snow is expected this November in mountainous areas of Altai and Khangai, in December--in most of areas. "So it is necessary to pay a great deal of attention to ensuring safety of rural roads, to making ready health centers of Ulaanbaatar and of aimags, regional diagnosis and treatment centers, to preventing possible difficulties in the medical services, to providing doctors and ambulance drivers with warm clothes, medical tools and materials," he underlined.
Mongolian shooters win two medals at Asian Championships
Ulaanbaatar, November 5 (MONTSAME) Senior and youth teams of shooting are taking part in the 13th Asian Shooting Championship which is continuing in Kuwait. The events have attracted 1,500 shooters from 32 countries.
In the women's 25m pistol team contest on Wednesday, a Mongolian team--O.Gundegmaa, Ts.Monkhzul and T.Gantuul--won a bronze medal, following South Korea and China. The same day, a youth team with T.Zoljargal, O.Yesugen and E.Enkhmaa captured a bronze medal in the women's 50m Rifle Prone.
This tournament is an Asian qualifying tournament for the 2016 Summer Olympics in Rio. However, this event has lost its Rio Olymipics qualification status when the IOC suspended Kuwait NOC for government interference.
Khuslen Enkhbold wins silver at World Youth Draughts Championships
Mongolian draughts player have won four medals from World Championships
November 5 (gogo.mn) World Youth Championship of 10 x 10 draughts is being held in Beilen, Netherlands these days. Total of 22 Mongolian draughts players are participating in the tournament.
Khuslen Enkhbold has won silver medal at Hopes Girls category with 13 scores collecting from 9 plays, which include 5 wins, 3 draws and 1 loss. 31 players from 13 countries competed in the category with Khuslen. Also, B.Bayarmagnai in 8-10 age category of boys and D.Odontuya in under 20 age category of girls respectively placed at 4th place.
Currently, 4-5 plays in major category have been held. Ts.Sukhbat competing in major category has placed at 3rd place so far with 2 wins and 2 draws. He won bronze medal last year.
Mongolian players have won 4 medals in total at Youth World Championship in history. First, N.Munkhtuya won silver medal at 2000 World Championship, followed by G.Gerelbold's gold medal at 2007 championship. Since then, G.Duurenbileg won silver in 2013 and Ts.Sukhbat won bronze in 2014.
Asia's Got Talent finalist Khusugtun folk group to perform in Australia
November 5 (Embassy of Mongolia in Australia) The Embassy of Mongolia in Australia and ANU Mongolian Institute are happy to invite everyone to a very unique performance of the 2015 grand finalists of the "ASIA'S GOT A TALENT" show – The "KHUSUGTUN"ethnic ballad band of Mongolia in Australia.
The "KHUSUGTUN" ethnic band will perform a live concert in Canberra, at ANU Llewellyn hall, on Tuesday the 1st of December 2015; and in Sydney, at the Factory Theatre, on Wednesday the 2nd of December 2015. These concerts are part of the East Asian promotional tour of the band.
The mixture of Mongolia's nomadic way of living, the animal husbandry and wild, untouched nature creates one of the greatest cultural heritages and valuable folk art, which is to be inherited to many generations of the Mongolians to come. The KHUSUGTUN Ethnic-Ballad Group is proud of Mongolians' great ancestors, and is keen not only to continue their priceless cultural intangible legacy but also to promote to the world the culture of one of the greatest civilisations in human history – the Mongols.
The KHUSUGTUN Ethnic-Ballad Group pursues a purpose to form its own specific singing called "Khoomei", which uses the throat singing – a classic form of polyphone style singing in Mongolia's creative folk art. With this polyphone style, Khusugtun has won the Golden Medal at a cappella category from the DELPHIC III World Art Olympus in the Republic of Korea in 2009, and the runner up in the "Asia got a talent" in 2015.
Although, the throat singing is considered as an ancient art with its roots going to the ancient nomadic tribes of the Central Asia, Altai, Khangai and Sayan mountain range, Mongolians master it best. No surprise, this type of singing was registered as the UNESCO's Intangible Cultural Heritage of Humanity.
Please click here to get information on individual performers of the band.
Tickets are available from the TICKETEK.
Following is the video of the band's performance.
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Stay in a cozy camp & enjoy autogyro flight above Chinggis Statue
November 5 (gogo.mn) Winters here are long and harsh, with temperatures here typically ranging from -20°C to – 45°C degrees. However, Mongolia's winters are home to incredible landscapes for those who are prepared.
If you are looking for cozy camp nearby UB which offers you to see the vast landscapes of wide open country and nomadic culture from the sky, this article will be helpful for you.
Fly Center is located 3 km away from the Chinggis Khaan Statue Complex and just an easy 70km drive from Ulaanbaatar city to the East. One specific of this camp is its Autogyro flight which enables you to fly above the Tsonjin Boldog and Tuul river valley. Cost for the flight depends on the flight length and is starting from USD 55.
Plus, there's a possibility of traditional ger or apartments, playing tennis and billiard, archery and karaoke rooms for your leisure. There's plenty to do and see in the Tuul River Valley in winter.
Prices for the per night at ger or apartment is starting from MNT 80.000 or USD 40.
Restaurant of the camp serves European and Asian cuisine at MNT 5000 - 20.000 (USD 3 - 10).
Please contact the Fly Center at 99045965 or 99195965. And their email address is flymongolia@gmail.com and website is www.nisleg-center.mn.
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Suite 702, Level 7, Express Tower
4 Peace Avenue, Chingeltei District 1
Ulaanbaatar 15160, Mongolia
Email: info@covermongolia.com
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