Specifically, ‘Erdenes Tavan Tolgoi’ JSC's subcontractor ‘Khishig Arvin Industrial’ signed MNT 7 billion agreement on technical modernization with ‘AODE’ LLC, ‘Ilch Mining’ and ‘Asartain Gobi’ companies also signed agreements on major purchase respectively. One of the major drilling companies ‘Elgen’ LLC announced the purchase of MNT 4 billion drill from ‘Epiroc Mongolia’ LLC.

Moreover, ‘Niseech International’ and ‘Ikh Shijir Baylag’ signed agreement on purchase of MNT 4.7 billion-worth heavy trucks, loaders and excavators.

The above mentioned companies purchased low cost technologies for high productivity. State Secretary of the Ministry of Mining and Heavy Industry G.Nandinjargal, Director of ‘AODE’ LLC D.Borgil and Founder of ‘Coal Mongolia’ conference attended the agreement signing ceremony.

B.Misheel

During the meeting, the Mongolian Deputy Prime Minister asked Russia to provide financial assistance and the allocation of a preferential loan of USD 1.5 billion for the further implementation of joint projects in the energy sector, including the modernization of Ulaanbaatar’s Heating & Power Plants 3 and 4, the TASS news agency reported.

The main directions of the commission’s work include the building of the Russia-Mongolia-China economic corridor, the preparation for a free trade agreement between the Eurasian Economic Union and Mongolia, cooperation in the agro-industrial, transport and energy sectors, as well as financial support for joint projects, said the statement.

The participants noted that trade between the two countries continues to show positive growth and that progress is observed in almost all joint projects.

The trade volume between Russia and Mongolia in 2017 increased by almost 50 percent to over 1.3 billion U.S. dollars, and grew by some 30 percent in the first half of 2018.

Relevant topics were touched upon by Russian Deputy Prime Minister Alexei Gordeyev and his Mongolian counterpart Ulziisaikhan Enkhtuvshin during a working meeting in Moscow, according to a statement published on the Russian government's website.

"A wide range of issues of bilateral trade and economic cooperation, as well as the work of the Russian-Mongolian Intergovernmental Commission on Trade-Economic and Scientific-Technical Cooperation were discussed," the statement said.

Main directions of the commission's work include the building of the Russia-Mongolia-China economic corridor, the preparation for a free trade agreement between the Eurasian Economic Union and Mongolia, cooperation on agro-industrial, transport and energy sectors, as well as financial support for joint projects, according to the statement.

The participants noted that trade between the two countries continues to show positive dynamics and that progress is observed in almost all joint projects.

Trade volume between Russia and Mongolia in 2017 increased by almost 50 percent to over 1.3 billion US dollars, and grew by some 30 percent in the first half of 2018.

The new railway line was reported by Chinese daily newspaper Xinhua. The journey covers around 9,000 kilometre, but the travel time between the two cities will be shortened by twenty days compared with sea transportation. The train is carrying 41 containers of auto parts, machinery, and equipment, worth around 1,26 million Euros, the report stated.

Not the first connection
In May this year, a new connection was established from Bayannur city in north China’s Inner Mongolia Autonomous Region to Tehran. It was not the first connection between the countries: the first freight train took off from Yiwu in January2016, headed for Tehran. A second freight train service connecting Yinchuan and Tehran followed in September that year.

According to Xinhua, a total of 77 China-Europe freight trains left Inner Mongolia in the first half of this year, accounting for a 305.3 percent increase year-on-year. The number of return trains reached 41 during the same period, with a 31.3 percent year-on-year growth. China’s total rail freight volumes expanded at a faster pace in the first seven months of this year. Railways carried a total of 2.29 billion tonnes of cargo during the January-July period, up 7.9 percent from one year earlier, according to data from the National Bureau of Statistics.

China-Iran routes
At the moment, there are two possible routes for traffic between China and Iran; a route passing through Kazakhstan, Uzbekistan and Turkmenistan and a similar route, but bypassing Uzbekistan. The first route is part of the Almaty-Bandar Abbas corridor entering Iran through the border point of Sarakhs. This corridor was opened in 2011 and has the potential to lift 2 million tonnes of freight annually.

The latter is part of the East of Caspian Route and passes through the Inche-Burun border crossing. This route is a branch of the north-south corridor, which starts in Russia and runs all the way up till the Persian Gulf. However, this line runs diverts east of the Caspian Sea to pass through Kazakhstan and Turkmenistan. The railway line was launched at the end of 2014 and foresees transporting some 15 million tonnes of cargo annually by 2022.

In this regard, Deputy Prime Minister was assigned to put the laboratories into operation in the 3rd quarter of the year within the approved budget, vacancy and recurrent expenditure. In further, operating costs of the laboratories and expenses required for strengthening their technical and technological readiness and capacity will be allocated in the 2019 State Budget.

The laboratories will be greatly significant in implementing the 'Gold 2' national program, purchasing, storing and transporting gold mined from the artisanal mining sites and conducting the test of precious metals in qualified and safe condition.

M.Anudari

The company is offering its 25 percent of total outstanding shares or 1,560,754 shares for MNT4800 per share and aiming to raise MNT7.49 billion. The subscription will be open until 3 pm September 18, 2018.

'Mandal Daatgal' JSC, established in 2001, has currently 46 thousand insurees and composes 21 percent of the domestic insurance market in terms of their premium income.

Such an example of insurance company listing on the MSE played a pivotal role in the market that has sought to invite more insurance companies as well as to improve participation of institutional investors in the market which would accelerate the market development.

source: mse.mn

Bilateral cooperation in the education sector increased in recent years, "China has significantly contributed to our country's efforts to end the system of three shifts in schools by giving non-refundable aid for building new schools and kindergartens," Tsogzolmaa told Xinhua in a recent interview.

According to the minister, a total of 21 schools and kindergartens will be built in Mongolia with aid from China by 2020. Currently, seven schools and one kindergarten are under construction in the Mongolian capital Ulan Bator.

The Mongolian government plans to end the system of three shifts in schools by 2020 in a bid to improve access to and quality of general education, said the minister, adding that to this end, Mongolia will have to build at least 50 new schools.

In addition, she noted that China has helped Mongolia to prepare a skilled workforce.

"China is the most popular overseas study destination for Mongolian students," she said.

"The number of Mongolian students choosing to study in China has been growing. The number of Mongolian students who receive Chinese scholarships has continued to grow year by year," she added.

Data show that since 2012, more than 2,500 Mongolian students have received Chinese government scholarships, and the number is 358 this year.

The number of students from China's Inner Mongolia Autonomous Region who study in Mongolia has also increased, Tsogzolmaa said.

The students from both sides serve as a bridge to promote friendship between the two peoples and two countries, she added.

The minister said Mongolia is keen on enhancing bilateral relations and cooperation with China in areas of education, science, culture and sports under the framework of the Belt and Road Initiative.

The initiative proposed by China in 2013 offers a huge opportunity for Mongolia and other participating countries to expand relations and cooperation with China in various fields, Tsogzolmaa said, citing infrastructure, economy, education and culture.

Next year marks the 70th anniversary of the establishment of diplomatic relations between Mongolia and China, Tsogzolmaa said, expressing the hope that the neighboring Asian countries will take this opportunity to strengthen ties and cooperation in all areas.

"We are planning to organize a series of events," she said, "For instance, Mongolian Culture Days will be organized in the Chinese capital Beijing and in Hohhot, capital of north China's Inner Mongolia Autonomous Region. And Chinese Culture Days will be held in Mongolia next year."

The international event is being held after Mongolia decided to sell up to 30 percent of the Erdenes Tavan Tolgoi Company on domestic and international stock markets. Tavan Tolgoi is one of the world's largest untapped coking and thermal coal deposits, with a total estimated reserve of 6.4 billion tons.

Mongolian Minister of Mining and Heavy Industry Dolgorsuren Sumiyabazar said at the opening ceremony that Mongolia is ready to cooperate with foreign investors on the Tavan Tolgoi deposit.

Mining is expected to be a leading sector in Mongolia for the next 20 to 30 years, said Sumiyabazar, who hopes the annual conference will help attract more foreign investment for the Mongolian mining industry, especially coal mining.

The 8th Coal Mongolia International Conference and Exhibition has attracted 3,000 participants, including some 600 officials and investors from 15 countries such as China, Australia, Canada and Britain. The theme of this year's conference is "Together towards Technological Advancement."

During the two-day event, the participants will discuss ways to raise Mongolian coal competitiveness in Asia, to increase Mongolian coal exports and to introduce coal mining technology into Mongolia.

Coal is Mongolia's main export. The country extracted 26.3 million tons of coal in the first seven months of this year, according to Sumiyabazar.

Today, Russian ice hockey legend Vladislav Tretiak arrived in Ulaanbaatar at the invitation of Mongolian President Kh.Battulga who is also president of the Mongolian Ice Hockey Federation . During the visit, the Federation signed an MoU with the honoured Russian guest for cooperation with Russia in developing the sport in Mongolia.

Former Russian star goalkeeper Vladislav Tretiak said he will discuss the possibility of constructing an indoor hockey ring in Mongolia for the training of athletes with President Kh.Battulga.