|"Open to Export" ICC WTO International business award||ICC WTO||London|
The Bank of Mongolia traded 654.2 billion MNT worth 1-week maturity central bank bill (“CBB”), with weighted average yield of 12.0 percent per annum.
1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.
Xanadu Mines (ASX:XAM) has confirmed that three of its 19 copper-gold and gold targets are new large-scale porphyry prospects within its flagship Kharmagtai project in Mongolia.
Exploration drilling that is currently still in progress has revealed that at least one shallow drill hole in each of the three targets has returned broad zones of porphyry alteration and mineralisation.
Initial drill results indicate a six kilometre long strike potential for mineralisation.
Dr Andrew Stewart, managing director, commented: “The results of this systematic drill program are proving to be very exciting with three new high-priority targets returning broad zones of porphyry copper and gold mineralisation under shallow cover.
“We plan to test all 19 high-potential copper-gold and gold targets generated during a recently completed bedrock drilling program.”
The three new porphyry targets
The Kharmagtai copper-gold deposits are concentrated along a series of small intrusions coming off the top of the main intrusion on the top of a much larger body at depth.
Shallow drilling in the second half of 2016 generated 19 high-potential copper-gold and gold targets, which are currently being tested by the drilling program underway.
The newly identified porphyry targets are Target 3, Target 4 and Target 6.
Target 3 is a 650x550 metre porphyry target where two shallow drill holes have been drilled with one hole returning 44 metres at 0.19% copper and 0.27g/t gold from 25 metres.
Target 4 is a 800x750 metre circular porphyry target where several broad intercepts have been recorded including three over 80 metres including 91 metres at 0.22% copper and 0.26 g/t gold from 30 metres.
Target 6 is a 1000x400 metre porphyry target where a single drill hole has returned 96 metres at 0.35 g/t gold and 0.10% copper from 95 metres.
Finding the high-grade source
Work is underway at these porphyry targets to vector towards the higher grade core of the system.
Drilling continues and the remaining targets will be tested over the coming months before all targets are assessed to focus the drill rigs on the highest grade and largest systems.
To date, less than half of the system’s footprint and only six of the 19 targets have been tested.
Following on from earlier success
The identification of the porphyry targets follows on from recent high-grade copper-gold intercepts at the Stockwork Hill deposit within the Kharmagtai Project.
- 264 metres at 0.56% copper and 1.46 g/t gold (1.49% copper equivalent) from surface;
- 234 metres at 0.57% copper and 1.04 g/t gold (1.23% copper equivalent) from 466 metres, which defined a new zone of high-grade stockwork mineralisation; and
- 212 metres at 0.36% copper and 0.38 g/t gold (0.61% copper equivalent) from 333 metres, which intersected a broad zone of breccia mineralisation.
Ulaanbaatar /MONTSAME/ The Bank of Mongolia (BoM) has completed a drafting of the Monetary Policy Guidelines for 2018 and an open discussion of the drat was held Monday to reflect proposals by experts in finance and economics sector.
The draft will be submitted to the Parliament before October 1st. In conjunction with the draft, the BoM proposed to amend some 10 laws including the Laws on Currency Regulation, the Central Bank, the Banking Law, and Law on Combating Money Laundering.
"The BoM's interest rate of monetary policy had been lowered from 14 per cent to 12. Recently, the Monetary Policy Council met again and made a decision to uphold the 12 percent interest. As looking at the basic economic conditions, the monetary policy rate could be reduced. However, instability continues in the market and other fields. For instance, the Government was dismissed recently and it is unclear what policy will be maintained by the new Government. The International Monetary Fund intended to make assessment on Mongolia's economic situation, but it has postponed it for an uncertain period of time in connection to the Government's dismissal. Consequently, some financing to Mongolia has been delayed. Therefore, lowering monetary policy interest rate directly would be risky,” said B.Lhagvasuren, BoM Deputy Governor.
In the monetary policy draft, BoM set a goal to ensure inflation stabilization, maintaining inflation rate at 8 per cent in nearest 3-4 years and lowering it further. Exchange rate will be determined in line with volume of USD in the economy, foreign trade balance and price of main export products. Moreover the BoM will work independently, transparent and open, publicizing its decisions, said B.Bayardavaa, chairman of the Monetary policy Department.
On September 25, 2017, 106,408 shares of 30 firms listed as Tier I, II, and III were traded. 15 firms’ shares increased, 11 decreased in price and 4 remained unchanged. Juulchin Dutry Free JSC was the top performer, increasing 11.10 percent, whereas Ar Bayankhangai JSC was the worst performer, decreasing 12.50 percent.
On the secondary market for government bonds, 3,471 bonds with a value of MNT 364,858,570 were traded. 17,916 bonds worth MNT 1,766,516,700 were block-traded and 951 corporate bonds worth MNT 95,090,490 were traded on the secondary market, as well.
The MSE ALL Index rose 1.35 percent to stand at 1064.48. The MSE market cap stands at MNT 2,075,609,340,330.
TOKYO -- Samsung has overtaken Toyota as Asia's most valuable brand for the first time, according to a global ranking released on Monday by U.S. consultancy Interbrand.
Its Best Global Brands 2017 list features 11 from Asia -- the same number as last year. But a stronger showing by South Korean brands over their Japanese rivals illustrates an ongoing shift in the marketplace, where more dynamic Asian companies are nudging aside the once-dominant Japan Inc.
The survey also underscores the limited brand power of Chinese companies, despite their massive scale and market capitalization. For the most part, their reach is still confined to their home market.
Samsung improved to sixth place, from seventh -- no small feat considering recent setbacks, including the bribery conviction of the group's heir, Samsung Electronics Vice Chairman Lee Jae-yong. The company was also forced to scrap its Galaxy Note 7 smartphone last October after just two months on the market, due to fire-prone batteries.
"Samsung has made it a policy of strengthening its brand in the past 10 years," Interbrand Japan's chief executive Masahito Namiki said in an interview. "The policy remains unchanged, despite the turmoil at the top, helping to limit the fallout from the scandals on its brand image."
Samsung has two powerful lines of business -- flash memory and smartphones -- but still has a ways to go to catch up with archrival Apple, the world's No. 1 brand. "Everyone knows what Apple is," Namiki said. "That's not always the case with Samsung."
Toyota saw its ranking drop to seventh, just one year after it became the first Asian company to crack the top five. The Japanese automaker suffered a sales decline in the key U.S. market. At the same time, it faces rising costs for the development of self-driving cars -- a field in which U.S. technology companies like Google and Tesla have the lead.
"The question facing the auto industry is whether it will be able to maintain growth in the face of new competition from other industries," Namiki said.
Apple, Google, everyone else
Brand power, Interbrand contends, is crucial for success in business. It helps recruit and retain talent, while allowing companies to charge premium prices. The extra money earned, in turn, can be invested in new products to further strengthen brands.
"We're the generation that's been abandoned since the end of communism."
Like many other former gold and jade hunters in Mongolia, Lagva is struggling to make a living since mines across the country have been shut down.
Lagva is sitting on a treasure - owning jade stones worth between $14,000 and $19,000 - but he has yet to receive permission to sell the precious stones.
While waiting for the government's permission, Lagva scrapes a living, renting his small, 35-year-old truck to nomadic herdsmen.
Mongolia's vast steppe is home to one of the world's last surviving nomadic cultures. Herding is a way of life for over a third of Mongolians, with many of the nomads living in often-inhospitable regions.
The Darkhad (craftsmen) nomads are some of the world's most self-sufficient people, leading a gruelling life in the north of Mongolia. The herds live off the land, and the nomads live off the milk and meat of their animals.
Their life revolves around finding pasture for the herds, and every spring, in the region of Lake Khovsgol, Minjbayar and his family take almost 250 animals - sheep, goats, yaks - and all their worldly goods on a risky journey.
During the so-called transhumance, entire families play a game of chance with their animals and their health, as they cross iced rivers and travel on narrow roads at an altitude of 2,000 metres. In the icy mountains, the temperature can reach -40C and there is always the threat of wolves attacking the herd.
"The transhumance will take four or five days. It's long and strenuous, but we can't stay here. There's no snow this year. I think it's because of climate change. There's less water, and there will be a drought later on. So there'll be less grass. Since that's what the animals eat, they could be at risk," explains 20-year-old Aza.
The way off life for nomadic herdsmen on the plains of Mongolia has changed little in centuries and life has always been challenging.
"My father was a herdsman", says 60-year-old Minjbayar. "In those days he led his herds towards the USSR. I went along on these journeys from a very young age. Sometimes there were as many as 1,400 animals to move along. There was some really bad weather. We'd sometimes lose our cattle, and they would die of cold or because of the storms."
But while Minjbayar and his familiy continue to brave the transhumance and Mongolia's extreme weather each year, other nomads have taken a different route in their attempt to find a better life for themselves, nearer to the city.
In the past three decades, around 600,000 former herders have migrated to the Mongolian capital Ulaanbaatar - mainly due to the end of Soviet state support and climate change.
Increasingly dry summers have made it harder to grow and harvest grass for the herds, so the animals cannot put on enough weight to survive the winter cold.
More than one million animals died during last year's dzud, a Mongolian term for a severe winter. The 2009-2010 dzud killed about eight million animals in Mongolia, putting the livelihoods of thousands of nomads under threat as well as harming the country's food supply.
If their livestock die during the harsh winters, herders are often forced to move to the city to survive. Many families who live in remote areas also head to the capital in search of better education for their children.
"I've never been to Ulaanbaatar", says Aza, "But I'd like to go to see what a city's like. I'll definitely send my child there to study. I don't want him to be a herdsman. It's too tough."
In response to the deteriorating situation, Mongolia's National Emergency Management Agency partnered with the UN development programme and NGOs to support Mongolia's struggling nomads.
In January 2017, the UN announced that it has allocated $1.1m to help herders access essential items such as food, fuel and basic medications by providing cash grants as well as animal feed packages and veterinary first aid kits to minimise the loss of livestock as their main source of food and income.
Source: Al Jazeera...
[THE INVESTOR] E-mart, the nation’s No. 1 discount supermarket chain owned by Shinsegae Group, said on Sept. 25 it is opening its second store in Mongolia this week as part of efforts to expand its presence in Asia amid growing uncertainties in China.
The firm is renting 1,540 square-meter space at Solo Mall in west of Ulaanbaatar in partnership with local retail giant Altai Group. Its first Mongolia store, also a collaboration with Altai, has seen stunning growth, with more than double the original sales target, since its opening in July last year.
The new Mongolian outlet comes after E-mart sold off five of its six remaining stores in China to Thailand’s retail giant Charoen Pokphand Group for its possible exit from the market where its financial losses over the past four years have exceeded 150 billion won (US$132.63 million).
The company also plans to further expand its business by opening more supermarket stores in other Southeast Asian countries like Vietnam. Its first store in Vietnam reported 41.9 billion won in sales last year.
During the week spanning September 18 to September 22, 2017, MNT 18,152,438,161.10 worth of securities were traded through 5 trading sessions on the MSE. The daily average MNT volume was 3.6 billion.
1. STOCK TRADING:
A total of 57 companies’ 1,381,748 shares worth MNT 623,527,947.10 were traded.
2. GOVERNMENT SECURITIES TRADING:
On the primary market of Government securities, 184,439 units of securities were traded for MNT 16,889,005,804 in one trading session.
In the secondary market trading of Government securities, 12,474 units of securities were traded for MNT 1,239,808,820 through 12 trading sessions
On the secondary market for corporate bonds trading, 551 bonds were traded for MNT 55,100,000 through 3 trading sessions.
As of September 22th, 2017, the total market capitalization of securities listed on the MSE was MNT 2,036,153,985,176. The MSE ALL index rose by 2.21% and stood at 1050.33 units.
Chinese FM: China willing to develop healthy and stable relations with good neighborliness and friendliness with Mongolia www.akipress.com
AKIPRESS.COM - Chinese Foreign Minister Wang Yi met with his Mongolian counterpart Tsend Munkh-Orgil September 20 on the sidelines of the UN General Assembly in New York, the Chinese foreign ministry said Monday.
Wang Yi expressed that China and Mongolia are friendly neighboring countries connecting by rivers and mountains. China has always treated Mongolia with goodwill and sincerity, and is willing to develop healthy and stable relations with good neighborliness and friendliness with Mongolia. Both countries enjoy high complementation in economic structure and huge cooperative potential.
China is pleased to see Mongolia to get on China's economic express train to achieve development and prosperity at an early date. China hopes the Mongolian side to earnestly respect core interests of China, properly handle sensitive issues concerning China, and create a favorable social environment and public foundation for the development of bilateral relations.
Tsend Munkh-Orgil said that whatever happens to the domestic political situation, Mongolia will always take the development of friendly relations with China as its diplomatic priority, and this basic policy does not and will remain unchanged. Mongolia supports the "Belt and Road" initiative proposed by China, and is willing to deepen cooperation with the Chinese side under this framework.
Some of the unfriendly voices in Mongolia do not represent the mainstream Mongolian public opinion. Mongolia is ready to properly handle relevant sensitive issues, and create a sound atmosphere for the development of bilateral relations through enhancing people-to-people and cultural exchanges, media cooperation and other methods.
FM Ts.Munkh-Orgil: We strongly oppose the DPRK`s acts of destabilizing regional security www.gogo.mn
ULAANBAATAR (GoGo Mongolia) - We deliver you the highlights of a statement by Foreign Minister of Mongolia Ts.Munkh-Ogril at the United Nations General Assembly in New York.
Among global development priorities, the special needs of landlocked developing countries come front and centre for Mongolia.
Enhancing connectivity is an urgent priority that all landlocked developing economies share.
In order to improve market access to main trading partners, Mongolia is studying the feasibility of free trade agreements with the Eurasian Economic Union, the People`s Republic of China and the Republic of Korea. An Economic Partnership Agreement is already in place with Japan.
Mongolia is keen to further work together with our two neighbors and other partners to improve rail, road, air, energy networks and pipeline infrastructure and increase access to the sea.
Mongolia`s State Policy on Energy, adopted in 2015, set an ambitious goal to produce 30 percent of its energy demand from renewable resources by 2030. Our solar and wind resources are estimated at 7000 TW and 5000 TW respectively.
We are working with our partners to implement the Gobi Tech and the Asian Super Grid projects to supply renewable energy for the Northeast Asia.
Timely and effective implementation of the sustainable development agenda cannot be achieved without peace and security. However, peace is being threatened on a number of fronts.
Mongolia is deeply concerned with the escalating tension in Northeast Asia. We strongly oppose the DPRK`s acts of destabilizing regional security by conducting repeated nuclear tests and ballistic missile launches in defiance of the international community`s will and in violation of the relevant resolutions of the UN Security Council. As a country with 25-year-old nuclear-weapon-free zone status, Mongolia reiterates its principled position that the Korean Peninsula must be nuclear-weapon-free. We urge the Parties concerned to refrain from actions that could heighten the tension in Northeast Asia and resolve the issue through peaceful means.
It is beyond doubt that the only way to resolve the Korean Peninsula`s nuclear issue is through dialogue. One of the avenues of dialogue could be the Ulaanbaatar dialogue on Northeast Asian Security initiated by Mongolia in 2013. We organized its 4th International Conference in UIaanbaatar last June. Compared to previous three conferences held at Track 2 level, this year`s we held it at Track 1.5 Lebel. The dialogue discusses not only security issues in Northeast Asia but also potential projects in the energy and environmental sectors. As such, the Ulaanbaatar Dialogue is an open dialogue mechanism that ensures the participation of all countries in Northeast Asia.