1 ERDENES TAVAN TOLGOI REVENUE SURGES DUE TO HIGHER COAL PRICES WWW.NEWS.MN PUBLISHED:2018/09/20      2 RUSSIA AND MONGOLIAN BORDER CROSSING NO. 487 WWW.NEWS.MN PUBLISHED:2018/09/20      3 WORLD ECONOMICS REPORTS THAT MONGOLIA’S EMPLOYMENT RATE HITS A FIVE-YEAR HIGH WWW.GOGO.MN PUBLISHED:2018/09/20      4 USD HITS RECORD HIGH IN MONGOLIA DUE TO HIGHER IMPORTS WWW.CHINA.ORG.CN PUBLISHED:2018/09/20      5 READOUT OF VICE PRESIDENT MIKE PENCE’S MEETING WITH PRIME MINISTER UKHNAA KHURELSUKH OF MONGOLIA WWW.WHITEHOUSE.GOV PUBLISHED:2018/09/20      6 MONGOLIA LAUNCHES EU-FUNDED PROJECTS TO PROMOTE GREEN DEVELOPMENT, ENVIRONMENTAL PROTECTION WWW.XINHUANET.COM PUBLISHED:2018/09/20      7 COAL EXPORTS FROM TOP SHIPPER HOBBLED WITH MINERS FACING CONSTRAINTS WWW.MINING.COM PUBLISHED:2018/09/20      8 FRONTIER'S "INVEST MONGOLIA TOKYO 2018" WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/09/19      9 U.S.-CHINA TRADE TUSSLE IS CREATING WINNERS IN SOUTHEAST ASIA WWW.BLOOMBERG.COM PUBLISHED:2018/09/19      10 YUSAKU MAEZAWA: THE JAPANESE BILLIONAIRE WHO WANTS TO FLY TO THE MOON WWW.BBC.COM PUBLISHED:2018/09/19      ШЕНГЕНИЙ БОГИНО ХУГАЦААНЫ ВИЗИЙН МЭДҮҮЛГИЙГ УЛААНБААТАР ХОТОД АВНА WWW.MEDEE.MN НИЙТЭЛСЭН:2018/09/19     2018 ЭХНИЙ 7 САРД МОНГОЛЧУУД ГАДААД РУУ ЭМЧИЛГЭЭНД ЯВАХДАА 19.5 САЯ АМ.ДОЛЛАР ЗАРЦУУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ӨНӨӨДӨР ТӨВ ТАЛБАЙД 4000 АЖЛЫН БАЙРАНД БҮРТГЭНЭ WWW.DNN.MN НИЙТЭЛСЭН:2018/09/19     ЗАЛУУЧУУДЫН ГАРААНЫ БИЗНЕСИЙН ШАЛГАРСАН ТӨСӨЛД 10,0 САЯ ТӨГРӨГИЙН ДЭМЖЛЭГ ҮЗҮҮЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/09/19     WORLD ECONOMICS: МОНГОЛЫН АЖИЛ ЭРХЛЭЛТИЙН ТҮВШИН СҮҮЛИЙН 5 ЖИЛИЙН ДЭЭД ТҮВШИНД ХҮРЛЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ERD: "ХӨНДИЙ" АЛТНЫ ТӨСЛИЙН ТОГТООГДСОН НӨӨЦ 751 МЯНГАН УНЦ АЛТ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/19     ХЯТАДЫН $200 ТЭРБУМЫН ИМПОРТОД ТАРИФ ТОГТООВ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/19     ШИВЭЭХҮРЭН БООМТООР ХОНОГТ 60-80 МЯНГАН ТОНН НҮҮРС ЭКСПОРТОЛЖ БАЙНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/09/19     БНХАУ-ЫН 200 ТЭРБУМ АМ.ДОЛЛАРЫН ИМПОРТОД 10 ХУВИЙН ТАРИФ НОГДУУЛАХ ШИЙДВЭР ИРЭХ 7 ХОНОГООС ХЭРЭГЖИНЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/09/18     ӨВӨЛ ЦАХИЛГААН СААТВАЛ ХОТ ДӨРВӨН ЦАГИЙН ДОТОР Л ХӨЛДӨНӨ WWW.ZGM.MN НИЙТЭЛСЭН:2018/09/18    

Events

Name organizer Where
Frontier's "Invest Mongolia Tokyo 2018" Frontier Securities Tokyo Japan
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Countering Fake News and Corruption in Mongolia www.democracyspeaks.org

Fake news and corruption are two significant issues testing the fabric of Mongolian democracy today.

Although these challenges have been widely covered global trends, with fake news becoming somewhat of a buzz word in the realms of politics and international development, neither issues are new but will continue to test the integrity of developing democratic systems around the globe. As a result, democracies such as Mongolia will require strong investigative journalism to counter their toxic and disruptive effects. The role of a free, open and credible press is now more critical than ever to help inform citizens and inject transparency and accountability into anti-corruption efforts.

According to the latest report by Mongolia’s Independent Authority Against Corruption—an independent government body tasked with raising public awareness and supporting corruption prevention activities, a wide range of inappropriate practices and illegal budget spending practices have recently been uncovered. The investigation, which assessed the activities of local government activities across all 21 provinces, including state institutions from 98 soums (counties) revealed a host of corrupt practices being carried out by local governments. These corruption violations purportedly include government officials concurrently taking charge over multiple political positions; unreasonable dismissal of local government employees; the dissemination of salaries during periods of unemployment; obtaining illegal donations and financial assistance; and hiring unqualified candidates for government positions.

Admittedly, addressing corruption and abuse of public resources and the authority of local officials remains a formidable challenge; however, an invaluable first-step is for such abuses to be uncovered and revealed to citizens. As a democratic country with an open media environment and free press, Mongolian journalists can play a key role in Mongolia’s fight against corruption by bringing transparency and accountability to violations and patterns of corruption.

Since 2014, IRI has supported transparency and accountability in local democratic governance through a dual-track approach that targets both the supply side (government) and demand side (civil society) of the democratic governance equation. IRI works directly with the Capital City Governor’s Office and Mayor of Ulaanbaatar to counter corruption and increase transparent governing practices while also bringing together municipal civil servants, civil society organizations and ordinary citizens to fight corruption. Through its partnership with the Ulaanbaatar Mayor, IRI has facilitated a jointly implemented Transparent UB Academy where government officials, civil servants and civil society organizations collaborate and create a citizen-focused information campaign. With technical support from IRI, these groups have worked on initiatives that improve transparency and accountability—from budget analysis and citizen budget seminars to workshops for public servants in decision-making positions focused on legal knowledge of anti-corruption statues and international ethics standards. For instance, this year alone, IRI has trained nearly 300 civil servants throughout Ulaanbaatar.

More recently, in cooperation with the Public Affairs Section of U.S. Embassy in Ulaanbaatar, IRI trained journalists from Ulaanbaatar and Darkhan. The participating press learned how to identify opportunities for investigative stories and contribute to the propagation of accurate news in Mongolia, which can go a long way in helping journalists and citizens uncover both cases of fake news and corruption abuses.

The case is clear that there is a role for investigative journalism to supplement anti-corruption efforts; however, more work needs to be done to enable and empower Mongolia’s press to call out corruption and serve as a check on abuses of local public office. Due to a weak institutional framework for the growth of a vibrant media whereby underpaid and undertrained media outlets are susceptible to corruption in addition to an overall lack of a universal code of conduct among Mongolian journalists, media outlets still struggle to report factual, citizen-centered information.

Despite highly publicized exposés highlighting corruption and misuse of government funds spearheaded by many prominent Mongolian journalists, most journalists and news agencies are susceptible to political pressures and remain disempowered. Within this context, IRI works to build the capacities of Mongolian journalists to maintain ethical standards and to develop high-quality, unbiased and accurate content relevant to Mongolian citizenry to address the problem of fake news in the digital age. Despite robust buy-in on the part of Mongolian journalists and media outlets to partner with IRI and past support from the Public Affairs Sector of the U.S. Embassy in Ulaanbaatar for empowering journalists, IRI’s current analysis has revealed a clear need for continued support and capacity building for journalists to counter the toxic and disruptive effects that fake news and corruption have on Mongolia’s democracy.


Posted by
Craig CastagnaProgram Officer, Asia Division

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Mongolian Gov’t can’t nationalize Erdenet Copper Mine — court www.mining.com

Mongolia’s Supreme Court has ruled the government is not allowed to nationalize a 49% stake little-known Mongolian Copper Corp (MCC) owns in a former Russian copper mine.

The Mongolian parliament had voted in February to seize MCC’s holding in Erdenet mine after the legislators' own probe concluded the $400 million-sale by state-owned Russian holding company Rostec to MCC was unconstitutional. This, because it was agreed without the legislators’ approval.

Industry sources quoted by Reuters said MCC would now seek compensation through international arbitration as it claims the Mongolian government breached international rules on investors’ rights.

Erdenet, which produces 530,000 tonnes of ore annually, is one of Asia’s biggest copper and molybdenum mines and a top tax contributor to the country’s $12 billion economy.

The Mongolian government, which owns 51% in the mine, has vowed to make things easier for miners and explorers as part of renewed efforts to attract foreign investment.

In May, the landlocked country bordering China and Russia decided to open more than one-fifth of its territory for mining exploration, hoping to shore up its finances following an International Monetary Fund-led bailout.

Since mining accounts for around 25% of Mongolia’s GDP and more than 80%vof exports, experts believe that increasing mining exploration could potentially raise the Asian nation’s GDP and economic security.

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Wall Street may be backpedaling on impending launch of bitcoin futures www.rt.com

While bitcoin enthusiasts are bracing for the much-anticipated investor acceptance of digital currency when futures trading starts this weekend, the world’s biggest banks have reportedly halted the move.

The Futures Industry Association (FIA) has sent a cautionary draft letter to the Commodity Futures Trading Commission (CFTC), which approved the start of bitcoin futures trading last week. The lobby group, which includes all the large Wall Street banks, warned the regulator over a swift launch of bitcoin futures that “did not allow for proper public transparency and input,” the Financial Times quotes the letter as saying.

The price of bitcoin has surged to another record of over $15,000 on Thursday, with the market value of the digital currency now exceeding $250 billion, according to data from CoinMarketCap.

The FIA reportedly stressed that ill-prepared financial system wouldn’t cope with the increased volatility of the cryptocurrency's price.

Last week, NASDAQ announced plans to launch bitcoin futures in 2018. Earlier, the Chicago-based exchanges CME and Cboe said they would start bitcoin futures trading on December 17, as the CFTC had approved the step.

The draft letter, obtained by the media, allegedly claims the exchanges should not be allowed to operate bitcoin futures under a self-certified regime as regulators will have minimal time to formally review them.

“A self-certification scheme for these novel products does not align with the potential risks that underlie their trading and should be reviewed,” the letter says.

“We remain apprehensive with the lack of transparency and regulation of the underlying reference products on which these futures contracts are based and whether exchanges have the proper oversight to ensure the reference products are not susceptible to manipulation, fraud, and operational risk,” the FIA said in the draft.

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MBA reports on the banking sector in Q3’17 www.mongolia.gogo.mn

The Mongolian Bankers Association (MBA) released a report on the banking industry's performance in the third quarter of 2017.

The banking sector's total capital reached one trillion MNT in Q3'17, a 9.1 percent increase over the previous quarter and a 13.8 percent increase compared to the same period in 2016.
Q3'17's capital is the highest figure on record in the past three years. Absolute capital of the banks was 25 trillion MNT in the first three quarters of the year, increasing by 2.3 trillion MNT within one quarter.
Seventy-eight percent of the hike was generated from increased deposits. It was estimated that deposits at 12 banks have increased.

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Massive Oyu Tolgoi mine to more than double gold production in 2018 www.mining.com

Rio Tinto-controlled Turquoise Hill (TSX:TRQ) is expecting its majority-owned Oyu Tolgoi copper and gold mine in Mongolia to churn in 2018 more than double the amount of the precious metal forecast for this year, with operating costs dropping about 2.8%.

In an update that went almost unnoticed, the Canadian miner said earlier this week it expected the massive Mongolian mine to produce 240,000 to 280,000 ounces of gold concentrate next year, more than double the 100,000 to 140,000 ounces initially expected for 2017.

The Vancouver-based company also forecast the mine to generate 125,000 to 155,000 tonnes of copper in 2018, slightly less than the 130,000 to 160,000 tonnes predicted for this year.

Operating cash costs for 2018 are expected to be about $700 million, down from the $720 anticipated for this year as a result of lower concentrator and logistics costs.

Capital expenditures for 2018 on a cash-basis are expected to be approximately $150 million for open-pit operations and $1.1 billion to $1.2 billion for underground development, Turquoise Hill noted.

Open-pit operations are expected to mine in Phase 6 in early 2018 and Phase 4 throughout the year, while it will also expects to process stockpiled ore in 2018.

The increased gold production relative to the 2016 technical report, Turquoise Hill said, can be explained by the splitting of Phase 4 into two parts (4A and 4B) and also by bringing production forward from future years, it noted.

Situated in the southern Gobi desert of Mongolia, about 550 km south of the capital, Ulaanbaatar and 80 k north of the border with China, Oyu Tolgoi is jointly owned by the government of Mongolia (34%) and Turquoise Hill (66%, of which Rio Tinto owns 51%).

The mine is expected to be world's third-largest copper operation at peak production in 2025, with output of over 550,000 tonnes per year.

While Oyu Tolgoi is Mongolia’s highest profile asset, the country hosts a number of other copper, gold and coal mines and projects, including Canada’s Erdene Resource Development (TSX:ERD), the company that literally struck gold earlier this year after finding its new gold project was richer than previously thought.

Australian explorer Xanadu Mines (ASX:XAM) is also among the established companies in Mongolia, with its underway Kharmagtai copper-gold project, south-east of Ulaanbaatar, returning exceptional results in the first months of this year.

Searching for the next Oyu Tolgoi 
Aware of the country’s mineral potential, Rio Tinto and Turquoise Hill revealed earlier this year they are already exploring the area close to Oyu Tolgoi, following the country’s renewed efforts to attract foreign investment.

In May, the landlocked country bordering China and Russia decided to open more than one-fifth of its territory for mining exploration, hoping to shore up its finances following an International Monetary Fund-led bailout.

Since mining accounts for around 25% of Mongolia’s GDP and more than 80%of exports, experts believe that increasing mining exploration could potentially raise the Asian nation’s GDP and economic security.

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S. Korea joins hands with Mongolia on patient follow-up programme www.millat.com

SEOUL, (MILLAT ONLINE):South Korea’s health ministry said Friday that it has reached an agreement with a Mongolian hospital to carry out patient follow-up measures aimed at improving the quality of medical treatment.

According to the pact between the Ministry of Health and Welfare, and the Mongolian National University, a care center will be set up to provide services to Mongolian patients who have received treatment in South Korea.
An increasing number of Mongolians are arriving in South Korea to receive medical attention, and they have asked for post-op care once they return to their home country, the ministry said.
The ministry said physicians from both countries will work together to check patients through an ICT-based system.
More than 15,000 Mongolians have visited South Korea for treatment, including cosmetic surgery, the ministry said. The country has a population of 3 million.

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Korean defense chief requests Mongolia's support in handling NK nukes www.akipress.com

South Korean Defense Minister Song Young-moo (R) shakes hands with his Mongolian counterpart Nyamaa Enkhbold during a Seoul meeting on Dec. 7, 2017. (Yonhap)

AKIPRESS.COM - The defense ministers of South Korea and Mongolia agreed Thursday to work together to resolve the North Korean nuclear and missile issue as the two met in Seoul, the South Korean defense ministry said.

The country's defense chief, Song Yong-moo, asked Mongolia to take an active part in the international community's sanctions on North Korea for its illicit weapons development, Yonhap South Korean news agency reported.

Song requested Mongolia's efforts to persuade the North to denuclearize itself in consideration of their traditional diplomatic ties, according to the ministry.

His Mongolian counterpart Nyamaa Enkhbold responded positively, it added.He was quoted as saying that his government will continue to cooperate with South Korea on the North's threats to jeopardize the peace and stability of the peninsula and the world.

The ministers also agreed to push for the expansion of military partnerships and defense industry cooperation between their countries.

Enkhbold invited Song to visit Mongolia at a convenient time and Song said he will consider the trip.He's on a visit to Seoul to attend the South Korea-Mongolia business forum.

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Turkish aid agency trains health staff in Mongolia www.aa.com.tr

Turkey’s state-run aid agency gave training to Mongolian doctors and nurses in Mongolia’s capital Ulaanbaatar, it said on Thursday.

In a statement, Turkish Cooperation and Coordination Agency (TIKA), said that it carried out a weeklong training program in cooperation with Istanbul-based Alliance of International Doctors.

A total of 46 specialist doctors and nurses got the training at different hospitals in Ulaanbaatar, the statement read.

The participants got information on infant intensive care, communicable diseases as well as maternal and child mortality in the training program.

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December 07, 2017 trading report www.mse.mn

On December 07, 2017, 541,517 shares of 15 firms listed as Tier I, II, and III were traded. 4 firms’ shares increased in price, 10 decreased and 1 remained unchanged. Standard Property Group JSC /BBD/ was the top performer, increasing 15.00 percent, whereas Tav JSC /TAV/ was the worst performer, decreasing 14.71 percent.

The MSE ALL Index decreased by 2.36 percent to stand at 1,242.98 points. The MSE market cap stands at MNT2,667,847,093,520.

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China-Mongolia Ties: Exclusive interview with Mongolian foreign minister www.news.cgtn.com

Mongolian Minister of Foreign Affairs Damdin Tsogtbaatar has just finished an official visit to Beijing. This is his first visit to China, since the establishment of the new administration. During his time in the Chinese capital, the minister took part in an exclusive interview by CGTN on China-Mongolia ties.

DAMDIN TSOGTBAATAR MONGOLIAN FOREIGN MINISTER "This visit is laying very good ground and start for our new administration's cooperation with your government. One of the best features of our bilateral relationship is continuity. Both China and Mongolia maintain continuity in their foreign policy and activities. Therefore, we will be building our relationship on what has already achieved, without losing the best aspects of it, we should be moving ahead."

ZHENG YIBING CGTN "The Belt and Road Initiative has developed from a bold vision into decisive action on the ground, with Mongolia playing an active role. What kinds of concrete measures is Mongolia taking to boost regional cooperation, like building the China-Mongolia-Russia economic corridor? "

DAMDIN TSOGTBAATAR MONGOLIAN FOREIGN MINISTER "The very important thing is that we are talking about the initiative of the Chinese president to create this corridor. It's a great idea. Trilaterally, it is agreed by China, Mongolia and Russia. We identify 32 projects. Traditionally Mongolia used to say we are the landlord, we can have access to this area, etc. But now with the growth of China and Russia, what we are saying is we are right in the middle of two big markets. So when these markets interact, through providing services, we also earn a lot. We should not be losing those opportunities. "

ZHENG YIBING CGTN "General Secretary Xi Jinping has called on political parties around the world to play a more important role in building up communities with a shared future. What's your take on that? "

DAMDIN TSOGTBAATAR MONGOLIAN FOREIGN MINISTER "We really know that together, we gain more, rather than through isolated efforts. If we really think that China is talking about the shared future, it's really about shared benefits of the joint efforts to grow, and that's in our interests. Because if a big economy like China wants to grow and grow together, it's pushing up and lifting up neighboring economies. So if our life is interconnected, and recognizing it, and then keeping leadership in terms of reality in a world of a globalized shared future pattern, it's a really important responsibility. But they want to achieve the best and they want to achieve the most out of this joint growth."

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