1 VALE EVACUATES 200 PEOPLE FROM TOWN NEAR ITS MAR AZUL MINE WWW.MINING.COM PUBLISHED:2019/02/17      2 TOOTH PLAQUE SHOWS DRINKING MILK GOES BACK 3,000 YEARS IN MONGOLIA WWW.SCIENCENEWS.ORG  PUBLISHED:2019/02/17      3 INCREASING NUMBER OF CHINA-EUROPE FREIGHT TRAINS SUPPORTS MONGOLIA'S ECONOMY: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/17      4 TAX REVENUE INCREASES BY 33.7 PERCENT WWW.MONTSAME.MN PUBLISHED:2019/02/17      5 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      6 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      7 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      8 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      9 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      10 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Mongolia Prepares To Ramp Up Gold Purchases www.kitco.com

The Bank of Mongolia (BoM) announced on Tuesday a five-month campaign aimed at increasing national gold reserves under the “Gold-2” national program.

Named the "National Gold to the Fund of Treasures,” the campaign encourages gold miners and individuals to sell gold to the central bank and commercial banks, while introducing training and educational programs for the public on the process of gold purchases, according to a statement from the BoM.

In the first four months of 2018, Mongolia’s central bank has purchased 3.3 tons of gold, an increase of 8% compared to the same period a year ago.

Mongolia’s long-term trend in gold reserve balance mirrors the growth in foreign exchange reserves – as of April, international currency reserves stood at 2.98 billion USD, up from 1.23 billion USD a year ago.

Despite Mongolia’s ambitions to boost gold reserves, the country’s holdings remain relatively small, even when compared to other developing nations. According to the World Gold Council, as of May, only 6% of the country's total foreign reserves is in gold. The world leader, the U.S., holds 75% of total foreign reserves in gold.

Mongolia is heavily reliant on the mining sector, with mining accounting for 20% of the country’s GDP, according to the World Bank. Providing incentives for miners could potentially raise economic security.

This wouldn’t be the first time the government has set up gold purchase campaigns. In August of last year, the central bank launched a three-month campaign called “Mongol Gold,” with a similar mandate of promoting gold submission to the bank and raising awareness of legal procedures associated with buying gold.

In the past, the major obstacle for individuals selling gold to the government was high transaction fees. Submissions rose significantly after fees were dropped from 68 percent to 2.5 percent.

Challenges surrounding infrastructure remain, as there are no testing facilities in the BoM’s rural branches which are needed to collect gold.

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Copper price soars to 3-month high www.mining.com

Copper jumped 3.7% in New York on Tuesday to trade at $3.25 a pound ($7,165 a tonne), the highest since end-February, as worries about supply disruptions in key producing region resurface.

Copper price soars to 3-month highWorkers at the Escondida copper mine in Chile put down quite a marker in the third round of contract negotiations with part-owner and operator BHP.

The union is demanding a one-time bonus equivalent to 4% of dividends distributed to BHP shareholders in 2017.

That works out to about $34,000 per worker. It would be the biggest bonus payout to mineworkers ever in Chile.

The union also wants a wage increase of 5%, which is more than double the inflation rate in the South American nation.

Due to its size, Escondida can on its own change global copper supply dynamics.

BHP, which owns 57.5% of the mine, has spent nearly $8 billion expanding the mine (including a $3.4bn water plant) in the past five years to maintain output above one million tonnes (2018 guidance is 1.18–1.23mt).

That means Escondida is responsible for nearly 5% of the world’s primary copper supply.

Ahead of the copper industry’s annual gathering in Santiago in April, Colin Hamilton of BMO Capital Markets summed it up this way:BHP has spent some $8 billion over five years to maintain output above one million tonnes

“Put in simple terms, at more than 300kt Escondida's planned output recovery in 2018 will be the second largest year on year gain by a single operation in recent copper history, after Las Bambas in 2016.

“To have such reliance on a single operation for copper supply growth, particularly one with a history of output hiccups, clearly comes with some risk.”

Last year’s walkout lasted 43 days and ended only when workers invoked a legal provision that allows them to extend their existing contract by 18 months (to end July).

The 2017 strike at Escondida was the longest in Chile since the 74-day action at state-owned Codelco’s El Teniente mine in 1973, which took place shortly before the military coup that overthrew socialist President Salvador Allende.

The threat of copper supply disruptions due to a slew of labour contract negotiations in top producers Chile and Peru, boosted prices at the beginning of the year.

The majority of those talks quickly ended in deals.

There is little indication of that happening at Escondida.

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Facebook confirms data-sharing agreements with Chinese firms www.bbc.com

Facebook has confirmed it has a data-sharing partnership with Chinese firms including Huawei, a company US intelligence previously flagged as a security threat.

The agreements gave the Chinese firms some access to users' data to help them build Facebook "experiences" on their own platforms.

Facebook said all the data collected remained on users' phones not servers.

The company is already under scrutiny over how it uses members' information.

Facebook has been blocked in China since 2009 but the company has been trying to find other ways to access the massive potential market.

'Legitimate concerns'
The New York Times reported earlier this week that Facebook had given at least 60 device-makers access to users' data - and that of their Facebook friends - without obtaining explicit consent and that in some cases the details were stored on the firms' own servers.

Facebook rejected claims that this had been a breach of privacy pledges that it had made to its members and a US regulator.

Senator Mark Warner, who sits on the US Senate Intelligence Committee, said news that Huawei was among the companies getting the privileged access to the Facebook data raised "legitimate concerns".

On Tuesday, Facebook responded by saying it "along with many other US tech companies have worked with them [Huawei] and other Chinese manufacturers to integrate their services onto these phones".

Francisco Varela, vice-president of mobile partnerships for Facebook, said the integrations with Huawei, Lenovo, OPPO and TCL were "controlled from the get go" and that "we approved the Facebook experiences these companies built".

"Given the interest from Congress, we wanted to make clear that all the information from these integrations with Huawei was stored on the device, not on Huawei's servers," he added.

In 2012, the US House Intelligence Committee warned US companies against dealing with Huawei and another Chinese telecoms firm, ZTE.

A report by the committee asked whether the firms were too close to China's Communist Party and its military. It also suggested their products and services could pose a long-term security threat to the US.

Facebook had already come under fire over its involvement in a scandal involving consultancy firm Cambridge Analytica.

The firms were at the centre of a dispute over the harvesting and use of personal data - and whether it was used to influence the outcome of the US 2016 presidential election or the UK's referendum on leaving the EU.

Facebook founder Mark Zuckerberg in May apologised to EU lawmakers for the company's role in the Cambridge Analytica scandal and for allowing fake news to proliferate on its platform.

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Mongolia supporting green-eco tourism www.news.mn

Tourism is becoming increasingly important for the Mongolian economy and the demand is increasing every year. According to a recent report by the World Travel and Tourist Council's (WTTC), the country's travel and tourism sector directly contributed almost 4% of GDP.

Following the announcement by the Mongolian Government that 2018 is officially 'Year of Tourism', active measures have been taken in supporting green-eco tourism. Under the projects, service in restaurants and tourist camps has been improved. As we reported yesterday, a tourist hotline has been sent up providing foreign visitors with an information service, and also the possibility to complain when service standards are not up to scratch. In addition, specific rules and regulations are being developed for nature travellers.

Mongolia is definitely taking improving service standards seriously. One huge area marked for improvement is providing modern toilets to replace the ubiquitous squat loos. The country is also benchmarking best-practice models, such as the eco tourism treks of South Korea's Jeju Island.

In the first quarter of 2018, Mongolia saw 705,000 foreign tourists, up 11 percent from the same period last year, according to the National Statistical Office of Mongolia. Government has a plan to increase to the number to 1 million by 2020.

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Foreign minister D.Tsogtbaatar visits the Republic of Belarus www.montsame.mn

Ulaanbaatar/MONTSAME/ Foreign Affairs Minister D.Tsogtbaatar has paid an official visit to the Republic of Belarus on June 3-6 at the invitation of his Belarusian counterpart V.Makei.

On June 4, Foreign Ministers held official talks with Minister V.Makei, following a ceremony to lay a wreath at Victory Monument in Minsk. During the official talks, the Ministers expressed their satisfaction with intensifying traditional friendly relations and cooperation between Mongolia and Belarus during recent years and constantly running high-level political talks. They also emphasized an importance of intensifying cooperation in the fields of food, agriculture, light industry, mining, road and transportation and increase exchanges of culture, education and humanitarian sectors in order to enrich bilateral tie with economic content.

Moreover, the dignitaries expressed mutual interest to use thoroughly a potential to cooperate under the Eurasian Economic Union and Mongolia-Russia-China Economic Corridor, alongside the continuation of bilateral collaboration within the framework of the United Nations, OSCE and other international organizations.

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Mongolia struggles to save last fertile pastures against climate change www.devdiscourse.com

Peatlands form when the dead plant material partially breaks down in swampy areas, capturing the carbon that plants capture in the air when they are alive. Rich, moist soil is a magnet for pastoralists because much of the country's land is depleted by overgrazing or desertification.

As a result, peatlands suffer the same fate. They are also damaged by mining, road construction, and steppe fires. Climate change is making things worse. A weak ecological balance is fracturing. The peatlands are the last fertile pastures in Mongolia. Without disturbance, they absorb the water from the melted snow and the rain that they filter and release into the rivers and lakes.

They prevent soil erosion and maintain the levels of groundwater that sustain crops and forests while avoiding desertification. But the area covered by peat in Mongolia has been reduced by almost half in the last 50 years. This had a dramatic impact on the permafrost: huge frozen lenses left by the ancient glaciations.

When the peat decomposes, the permafrost loses a protective layer that isolates it from the elements and begins to thaw. Currently, Mongolia has about one third less permafrost than just under 50 years ago.

How Mongolia addresses this challenge will be instructive for other countries with peat bogs that are trying to reduce greenhouse gas emissions. According to 2008 data compiled by Wetlands International, Mongolia is the seventh largest emitter of CO2 in the world by degrading peatlands.

More than a dozen countries have larger peat areas than Mongolia. According to the organization, global emissions from degraded peatlands are increasing, especially in developing countries.

The fight to save the peatlands in Mongolia will take place in the countryside, as well as in political symposiums and legislatures. The result will shape the future of their pastoralist communities, which, for most of the world, constitute the stereotyped image of the country.

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TerraCom makes new coal discovery in Mongolia www.smallcaps.com.au

Coal miner TerraCom (ASX: TER) has announced the discovery of a thick coal deposit close to its Baruun Noyon Uul (BNU) coking coal mine in Mongolia.

The new Permian coal deposit, now being referred to as BNU South as it is situated about 12km south of the mine’s infrastructure, was uncovered during an exploration program targeting shallow open cut mineable coal within the company’s Mongolian mining licences.

Multi-stage ground geophysics initially defined 5km of Permian target strike for exploration and a phase one drilling program completed 42 polycrystalline diamond (PCD) holes for 6803m.

Reporting to the market today, TerraCom said multiple coal intersections occurred along the 5km of strike, including very thick intersections of up to 122m of total gross coal.

“The large shallow coal intersections in this area are by far the thickest thus far discovered within the company’s licenses in Mongolia,” TerraCom stated.

A phase two exploration drilling program has already begun with the thick intersections being considered a “high priority area”. The program will include both PCD drilling and diamond core drilling.

In addition, TerraCom said work streams have been activated to fast-track the start of mining the BNU South deposit on the assumption that further exploration will confirm the target.

Mining operations
Located in Mongolia’s South Gobi province, the BNU mine produces an estimated 1.5 million tonnes per annum of coal which is then exported to China.

Mining to date has been from the initial three open pits located on the northern side of the Noyon coal basin, although TerraCom has been progressively developing pits along the Noyon basin sub crop.

Given its close proximity to the BNU mine infrastructure, TerraCom believes the BNU South deposit could potentially become part of the BNU operation.

TerraCom also operates the Blair Athol coal mine in Queensland, Australia, which commenced mining operations in August last year and has been forecast to produce 1.9Mt of product in its first full year.

In April, the company completed construction and commissioning of a new train load-out facility, which enabled the cessation of a trucking and is projected to deliver an additional A$20 per tonne improvement in margin.

Showing faith in the company, TerraCom director James Soorley snapped up A$37,000 worth of company shares through an on-market trade last week.

TerraCom shares rose 8.96% to A$0.365 on the BNU South discovery announcement by afternoon trade.

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Mongolia's central bank launches campaign to increase gold reserves www.xinhuanet.com.cn

ULAN BATOR, June 5 (Xinhua) -- The Bank of Mongolia said Tuesday it has launched a campaign "National Gold to the Fund of Treasures" within the framework of the "Gold-2" national program.

The five-month campaign is aimed at encouraging gold miners and individuals to sell their gold to the central bank and commercial banks, increasing the gold reserves, intensifying training and promotion on the process of gold purchase among the public and introduce relevant laws and regulations, the Bank of Mongolia said in a statement.

The Bank of Mongolia purchased over 3.2 tons of gold from legal entities and individuals in the first four months of this year, which is an increase of 257.6 kg from the same period last year.

The government of Mongolia has carried out a number of measures directed at enriching the treasury fund and improving the legal environment on foreign exchange over past five years. As a result, gold miners submitted 20.01 tons of gold to the central bank in 2017, contributing 800 million dollars to the state budget.

Annual gold production had not surpassed 20 tons since 2005 when it reached its record high at 25 tons.

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Petro Matad swings to loss following Mongolia drilling delay www.sharesmagazine.co.uk

Mongolia-focused oil explorer Petro Matad swung to an annual loss following drilling delays.

Net losses amounted to $9.9m, compared to a profit in 2016 of $10.8m.

The company had expected to commence its first drilling operation in six years during 2017.

However, it became evident that the drilling rig contracted for the programme would not achieve the required certification to international standards.

The company therefore took the decision to defer drilling until 2018.

'While disappointing, the this did provide the company with additional time in which to review and revise its financing and operational strategy,' Petro Matad said.

At 8:14am: (LON:MATD) Petro Matad Ltd share price was -0.3p at 11.7p

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World Bank to support Ulaanbaatar City on Municipal Transport Asset Management www.montsame.mn

Ulaanbaatar /MONTSAME/ On June 5, a Memorandum of Understanding between the World Bank and Ulaanbaatar city was signed to facilitate cooperation on the management and planning of municipal transport assets, as part of the city’s efforts to make its transport infrastructure more resilient to the impact of climate change.

The agreement, signed by World Bank Country Manager for Mongolia James Anderson and Ulaanbaatar city Vice Mayor Bayarkhuu, marks the beginning of technical assistance supported by a grant from the Global Facility for Disaster Reduction and Recovery.

Poor asset management and lack of long-term planning of urban transport infrastructure – roads, intersections, and bridges – have long constrained the quality of service delivery in UB city, which has a limited budget for road maintenance and repairs. Climate-related disasters such as flash floods, storms, and extensive icing on the road during winter add to the city’s challenges and increase the need to boost capital investments in transport infrastructure.

“The urban transport infrastructure provides the veins and arteries for the city, so ensuring their good management and long-term development is crucial to Ulaanbaatar’s health,” said World Bank Country Manager James Anderson. "The World Bank is committed to supporting public service delivery in Mongolia, including strengthening the capacity of national and local agencies to plan and manage public transport services."

“In recent years, the Municipality of Ulaanbaatar has initiated and implemented a number of road and transport infrastructure investment projects,” said Vice Mayor for Infrastructure and Redevelopment Mr. Bayarkhuu. “With harsh climatic conditions and increasing climate-related disasters, the existing infrastructure is vulnerable to rapid degradation. This support from the World Bank is timely and will benefit both public officials managing the city's transport facilities and residents who rely daily on the roads."

As part of the collaboration, the World Bank will help the city to set up an inventory system for transport assets, which will include classifications and basic information for all urban transport assets. The initiative will also help develop the first phase of Ulaanbaatar’s long-term plan to manage its transport infrastructure assets while ensuring the necessary maintenance and repairs to make the assets more climate resilient.

Officials responsible for planning and maintenance of transport infrastructure – at the national and city level – will also be trained to carry out asset surveys and develop plans for asset management.


Source: The World Bank

 
 
 
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