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News Updates Archive
Friday, 10 August 2007
Parliamentary Working Goup >>> Parliament decided to establish a working group to further examine Oyu Tolgoi agreement ::: No official announcement on timeline yet ::: It will be a non-partisan, multi-party group  :::
 
Friday, 10 August 2007
Interview with Ch. Khurelbaatar >>> State Secretary of ministry of Finance, leader of the working group ::: License belongs 100% to Ivanhoe Mines (IVN) ::: The site was discovered by IVN ::: According to 2007 mineral law, Gov. can only get 34% tax maximum. ::: Windfall tax law deals with raw copper, IVN will produce processed copper, so windfall does not apply to IVN. ::: Current agreement suggests Mongolia will receive directly and indirectly 55% of profit. ::: If this parliament does not approve, the wait is for after 2008 elections. //
 
Thursday, 09 August 2007

Ivanhoe Agreement Update 2 >> MP's Z. Enkhbold and N. Batbayar of the Dem Party questioned the agreement working group members intensively. The leader of work group Ch. Hurelbaatar could not answer several key questions. ::: Minister of finance Bayartsaihan left thediscussion for a cabinet meeting, causing outrage among many parliament members.// 

 
Thursday, 09 August 2007
Ivanhoe Agreement Update 3 >> N. Batbayars questioned if exempting Ivanhoe for 5 years of wind fall tax of 68% is legal ::: Hurelbaatar replied that with a 68% tax Mongolia will not be able to attract any investors. :::: Calculated by today’s copper rate ($7972/ton) the tax exempt would be 4 billion dollars. ::: According to N. Batbayar the investment for oyu tolgoi is only 2 billion and he feels the tax exempt is against the law. //
 
Thursday, 09 August 2007

Parliament discusses Ivanhoe Agreement  >> Democratic Party emphasizes the agreement will last for 80 years and shouldn't be rushed ::: The Standing Committee on Economic Policy will look further into the agreement ::: MP. Gundalai expressed his arguments against the agreement in a 20 minute long monologue //

 

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Akira KAMIMURA, lecturer, faculty of Mongolian studies, Tokyo University of Foreign Studies launched an innovative website on old Mongolian manuscripts maps in cooperation with the state archive of Mongolia. It contains 16 precious maps which are stored at the state archive for academic use. The oldest map was estimated being made in 1803-1805.