Standing Committee of SGK discussed the dismissal of Prime Minister Altankhuyag Norov on April 16th, 2013. The Standing Committee decided that it is not necessary to dismiss the Prime Minister. SGK called for a vote after chairmen of MPP and DP parties’ parliamentarians and the Prime Minister made a statement regarding the dismissal issue. SGK [...]
On April 19, 2013, SGK passed amendments to Strategic Sectors Foreign Investment Law (SSFIL) that was adopted in May last year. The new amendment aims to ease restrictions and create more favorable conditions for foreign investors. Parliamentary approvals for foreign non-state owned companies and threshold of MNT100bn (US$70mn) have been removed. The investments of state [...]
Deputy Speaker of SGK Bayartsogt Sangajav has resigned after 87.5% SGK voted in favor of his resignation, 74 MPs have participated in the voting. Disciplinary committee of SGK have convened earlier to discuss Deputy Speaker’s act after it became apparent that the speaker hadn’t disclosed his BVI company title and its Swiss Bank account that [...]
Erdenes Tavan Tolgoi was facing financial difficulties because of the low-selling price on the agreement with Chalco. The mine also contributes largely to the state-budget. Therefore, it was one of the many causes of economic slowdown in Mongolia. Business-Mongolia.com is delivering the translation of an interview with Mr. Gankhuyag D, Mining Minister of Mongolia, on [...]
The OT project has already started the commercial production and scheduled to commence exporting the concentrates to China based smelters. OT has committed 75-90% of its’ product for sale with 3-5 smelters all located in China. Marketing strategies include swap contracts and direct supplies to smelters. Some complaints from the project company, Oyu Tolgoi LLC, [...]
Today, Prime Minister Altankhuyag N briefed SGK that Erdenes TT will resume transporting coal to China from next Monday, 22nd of April. Currently there are 337 thousand tons accumulated at the Mongolian border and over a million ton at the mine site. He added that Chalco’s directors came to meet the relevant Mongolian side officials [...]
Today, in the SGK session regarding the resignation of deputy speaker, Mr. Bayartsogt S. himself made explanations. He assures that all of the records and transactions were submitted to IAAC (Independent Agency Against Corruption) and proved that there were only 2 transactions. Initial deposit was made when the account was opened – 1 million USD. [...]
State great khural is taking place today in the parliament house. MP Mr. Otgonbayar asked the Mining Minister regarding the negative economic outlook and ratings of the country from rating agencies. The Mining Minister stated that international investors agreed to stop spreading and feeding negative news and messages through its’ associated PR companies and media [...]
Today, Finance minister stated that the Oyu Tolgoi agreement is not profitable to Mongolia. He added that various sources and researches have proved the deficiency of the agreement. Viable explanations and breakdowns of the 2 billion USD cost overrun has not been given to Mongolians, he mentioned. As for Tavan Tolgoi, the deal with Chalco [...]
After the victory of Democratic Party in the parliamentary elections last year, the party intensively replaced the directors and chiefs of high level organizations. As part of the process Mr. Ganbold Chuluun has been resigned from the Oyu Tolgoi LLC board. Mr. Ganbold Chuluun served as a board member from June, 2010 until his resignation [...]
Asia Society (blog)
Why the World Should Help Mongolia Save Its Endangered Gobi Bear
Asia Society (blog)
In late 2012 Mongolia's Ministry of Environment and Green Development designated 2013 as The Year of Protecting the Gobi Bear, a critically endangered native species whose extant population was most recently numbered at 22. Mongolia prohibited Gobi ...
PM's visit to Mongolia aimed at stronger trade ties
Commerce Minister Boonsong Teriyapirom said he would join the government team and private representatives in exchanging opinions with Mongolian officers and private enterprises for promoting trade growth. The three-day visit ends on Monday.
Yingluck set for Mongolia missionBangkok Post
Thai PM To Attend Ministerial Conference Of Community Of Democracy In ...Bernama
PM Yingluck to attend int'l leaders' summit in Mongolia during April 27-29Thailand National News Bureau
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“Three Neighbors” circus touring Mongolia with animals this spring
“Three Neighbors”, a collaboration of Mongolian, Chinese and Russian circus performers, is beginning its Mongolian tour on May 25. This year, the circus performers are visiting Mongolia with their animals, making this the first circus animal ...
Backstreet Boys concert in Mongolia rescheduled
The May 23 Backstreet Boys concert in Mongolia, was re-scheduled to take place on June 15, according to Kh.Batjargal, manager of Evento Company, the Mongolian organizer of the concert. Earlier this month, the world famous Backstreet Boys, announced ...
Mongolia eases restrictions on miners
MONGOLIA, for years held out as a potential competitor with Australia to attract global investment for highly promising mining prospects, has faltered following the introduction a year ago of stringent regulations requiring parliament to approve ...
Top Europe diplomat to visit China, Mongolia
Turkish Prime Minister Recep Tayyip Erdogan (R) is accompanied by Mongolian Prime Minister Altanhuyag Norov (L) as they inspect a guard-of-honour during a welcoming ceremony at Sukhbaatar Square in Ulan Bator in this April 11, 2013 file photo. (AFP) ...
Ashton to visit China and MongoliaKuwait News Agency
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S&P's Mongolia Downgrade Not Hitting Central Asia ETF...Yet - NASDAQ.com
On Tuesday, Standard & Poor's Ratings Services said that it lowered its ratings outlook on Mongolia to Negative from Stable while affirming the central Asian country's BB- long-term and B- short-term sovereign credit ratings. Those are both junk ratings.
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100 Words: Mongolia In Flux
This young photographer brings all of our senses to Mongolia, portraying a country in economic and cultural flux. To view these images we cannot avoid the raw elements, the harsh sun, the endless permafrost. A closer look affords a glimpse into the ...
Mongolia: Could things be looking up for Tavan Tolgoi?
Financial Times (blog)
However for Chalco, one of China's biggest aluminum producers, the coal trucks that are once more ferrying their cargoes across the Gobi desert hardly signal the end of the company's challenges in Mongolia. Tavan Tolgoi is still trying to renegotiate ...
North Korea Asks Mongolia For Food Aid; US Would Consider Granting Request
Although it's been aiming bellicose rhetoric -- not to mention, missiles -- at the United States and South Korea lately, North Korea is now singing a different tune for some of its neighbors. Pyongyang's new ambassador to Mongolia officially asked for ...