|"Open to Export" ICC WTO International business award||ICC WTO||London|
Volkswagen, the world's biggest carmaker, will offer an electric version of all its 300 models by 2030, becoming the latest manufacturer to move away from petrol and diesel.
VW will double investment in zero-emission vehicles to 20bn euros (£18bn) as it seeks to put the diesel emissions scandal behind it.
The German firm plans to offer 80 new electric cars across the group by 2025.
It comes as Mercedes-Benz also promised electric versions of all its cars.
Mercedes chief Dieter Zetsche said the entire range would have electric or hybrid versions by 2022.
'Got the message'
However, VW is the first major carmaker to announce a big push into the mass-market with electric vehicles.
Speaking at the Frankfurt motor show, Volkswagen chief Matthias Mueller told the BBC the firm had "got the message".
"Customers want clean vehicles. People want to have clean air, and we want to make our contribution here," he said.
The German firm, whose brands include Seat and Skoda, also said it would place orders worth more than 50bn euros for batteries to power the cars.
The motor show comes at a difficult time for the industry, with VW and other German carmakers facing heavy criticism from the country's chancellor, Angela Merkel, over the diesel emissions scandal.
In the run-up to this month's election, Mrs Merkel said the car industry needed to regain the public's trust.
VW is confident its petrol and diesel engines are now clean, Mr Mueller told the BBC.
But he added that it could not drop combustion engines entirely yet because the infrastructure for electric vehicles was not in place.
"There will be a coexistence between internal combustion engines and electric drive systems for a certain period - I can't tell you how long that will be," he said.
Harald Krueger, chief executive of BMW, agreed there would be a transition period where combustion engines were still needed.
But he told the BBC that electric cars were "not just hype, this is the long-term trend".
On Tuesday BMW will unveil its first electric Mini, which will be assembled in Oxford and go on sale in 2019.
The moves from BMW, VW, Mercedes and other carmakers come as a growing number of countries are announcing plans to ban new diesel and petrol cars.
China, the world's biggest car market, became the latest to signal such a shift over the weekend, although it did not set a date.
Both the UK and France have already announced plans to ban new diesel and petrol vehicles by 2040, as part of efforts to reduce pollution and carbon emissions.
Meanwhile, Shell said it would install its first electric car charging point in the UK later this month.
Mongolia Growth Group Ltd (MNGGF) have climbed higher over the course of the past week revealing positive upward momentum for the shares. In taking a look at recent performance, we can see that shares have moved 1.03% over the past week, 6.55% over the past 4-weeks, 19.59% over the past half year and -16.05% over the past full year.
Traders may be narrowing in on the ATR or Average True Range indicator when reviewing technicals. At the time of writing, Mongolia Growth Group Ltd (MNGGF) has a 14-day ATR of 0.01. The average true range indicator was created by J. Welles Wilder in order to measure volatility. The ATR may assist traders with figuring out the strength of a breakout or reversal in price. It is important to note that the ATR was not designed to determine price direction or to predict future prices.
Some investors may find the Williams Percent Range or Williams %R as a helpful technical indicator. Presently, Mongolia Growth Group Ltd (MNGGF)’s Williams Percent Range or 14 day Williams %R is resting at -56.67. Values can range from 0 to -100. A reading between -80 to -100 may be typically viewed as strong oversold territory. A value between 0 to -20 would represent a strong overbought condition. As a momentum indicator, the Williams R% may be used with other technicals to help define a specific trend.
Investors may use multiple technical indicators to help spot trends and buy/sell signals. Presently, Mongolia Growth Group Ltd (MNGGF) has a 14-day Commodity Channel Index (CCI) of -30.99. The CCI was developed by Donald Lambert. The assumption behind the indicator is that investment instruments move in cycles with highs and lows coming at certain periodic intervals. The original guidelines focused on creating buy/sell signals when the reading moved above +100 or below -100. Traders may also use the reading to identify overbought/oversold conditions.
The Average Directional Index or ADX is a popular technical indicator designed to help measure trend strength. Many traders will use the ADX in combination with other indicators in order to help formulate trading strategies. Presently, the 14-day ADX for Mongolia Growth Group Ltd (MNGGF) is 14.71. In general, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend. The ADX alone was designed to measure trend strength. When combined with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI), it can help decipher the trend direction as well.
Taking a peek at some Moving Averages, the 200-day is at 0.27, the 50-day is 0.29, and the 7-day is sitting at 0.30. The moving average is a popular tool among technical stock analysts. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a specific period of time. Moving averages can be very useful for identifying peaks and troughs. They may also be used to help the trader figure out proper support and resistance levels for the stock....
Canada's Centerra Gold (TSX:CG) on Monday said it had reached a comprehensive agreement with the Kyrgyz Republic in its drawn out environmental dispute over the firm’s Kumtor gold mine.
The settlement agreement would end mutual lawsuits, drop all environmental claims , halt court proceedings and allow Toronto-based Centerra to transfer funds from the country that had been frozen by the central Asian nation.
Shares in Centerra climbed as much as 3% in morning trade in Toronto Monday. Gains for the stock since news of a deal first leaked last Wednesday now total more than 20% affording the company a market value of over C$2.6 billion on the TSX.
Centerra said that is in the process of transferring the cash held by its local subsidiary, Kumtor Gold Company (KGC) – nearly $300m by some estimates – that is over and above KGC's working capital requirements. All restrictions on the movement of Centerra employees have also been lifted.
Under the agreement Centerra will pay US$50m to a so-called Nature Development Fund and make annual contributions to the fund to $2.7m. A cancer care fund set up by the government will receive a further $10m from the company.
Centerra will also invest $6m annually in a Kumtor reclamation fund based inside the country to a minimum of $69m. That figure broadly matches the company's own estimate of the site's total rehabilitation costs.
The Kyrgyz government owns just under a third of Kumtor and the mine contributes nearly 10% of the country's GDP. The miner, the largest Western-based gold producer in Central Asia, successfully sought international arbitration in May last year, following the Kyrgyz Republic’s string of penalties, fines, accusations of environmental damage and violation of business deals.
Last year a Kyrgyz court ordered KGC to pay about $98m in fines related to mine waste while another government body filed a $230m lawsuit against the firm.
Kumtor, which lies near the Chinese border at an altitude of 4,000 metres, has produced around 11m ounces since inception and remaining reserves are pegged at 5.6m ounces. In November Centerra said it was increasing its gold output guidance for the mine to 525,000 to 555,000 ounces and lowering all-in sustaining cost forecast to $751 – $795 per ounce.
Centerra has been shopping for assets in other jurisdictions and last year acquired US-based Thompson Creek Metals (TSX:TCM), picking up the Mount Milligan copper-gold mine in British Columbia, Canada, in a $1.1 billion deal.
The share of ecologically ‘clean’ vehicles sold in Russia has reached 40 percent, according to the latest research by the International Energy Agency (IEA) seen by Russian media.
The figure is similar to that in Australia, China, and Mexico. The sales of eco-friendly vehicles in the US make up 35 percent of overall sales.
The agency report seen by daily Izvestia reveals that in Russia the number of new passenger cars with carbon dioxide (CO2) emissions less than 180 grams per kilometer has significantly risen since 2005.
At the same time, sales of vehicles with carbon CO2 emissions of higher than 240 grams per kilometer dropped to 10 percent from 20 percent within the period.
Sales of passengers cars with the prevailing CO2 emission of up to 240 grams per kilometer have also seen a drastic fall from 70 percent to 50 percent.
Vehicles sold in Russia are becoming more eco-friendly due to tougher environmental requirements from state regulators, according to the analytical agency Autostat. The analysts say state standards for engines have been drastically changed over the last ten years.
Ulaanbaatar /MONTSAME/ A total of 30 thousand tons of coal has been transported by freight trains in a route from Ulaanbaatar to Baganuur district. The freight trains were assembled by Mongolians engineers.
Last June, the Minister of Road and Transport Development commissioned the train assembling workshop as well as the newly-assembled trains in cooperation with Ulaanbaatar Railway Joint Venture Company and private entities. As of today, the workshop has assembled a total of five freight trains and two platform trains, and they already put into transport use. Since June 2016, the domestically-assembled trains have transported 30 thousand tons of coal via the Ulaanbaatar-Baganuur route.
The workshop plans to assemble 20 units of semi-platform trains, five platform-trains in this year. By preliminary specifications, the trains assembled by Mongolian engineers have the maximum freight capacity of 72 tons, the storage volume is 88 cubic meters and they speed up to 120 kilometers per hour.
In regard of the quality, the lifespan of trains imported from Russia and China ranges from 20 to 25 years, while the trains assembled in Mongolia could be used for 30-32 years. If the investment issue is tackled, Mongolia will have possibility to assemble 80 freight trains a year.
Xanadu Mines confirms higher-grade mineralisation across porphyry at Kharmagtai www.proactiveinvestors.co.uk
Xanadu Mines Ltd (ASX:XAM) continues to make high-grade copper-gold intercepts from diamond drilling at the Stockwork Hill deposit, located within the company's Kharmagtai project in Mongolia.
The latest highlight delivered: 264 metres at 0.56% copper and 1.46g/t gold for a 1.49% copper equivalent from surface, including 148 metres at 0.81% copper and 2.41g/t gold for a 2.41% copper equivalent.
Dr Andrew Stewart, managing director, commented:
"We continue to be encouraged by the results of our ongoing extensional
drilling program around the current resources at Kharmagtai.
"Hole KHDDH415 successfully confirmed our interpretation of consistent highergrade
mineralisation across the mineralised width of the porphyry and
increasing gold to copper ratios associated with north-northeast controlling structures.
"These high-grade extensions we have identified now offer us the opportunity to assess Stockwork Hill as a potential large-scale resource which we will be assessing during the remainder of 2017."
Xanadu has been attracting broker attention recently.
The company's shares last traded at $0.22, with Bell Potter seeing a strong upside after applying a Buy Recommendation and a $0.52 valuation.
Argonaut recently made a site visit in Mongolia and rates the stock a Speculative Buy.
Ulaanbaatar /MONTSAME/ A report has been given on the visit of Motoo Hayashi, a special envoy of Japan’s Prime Minister and Chairman of the Japan-Mongolia Parliamentary Friendship League at the National Diet of Japan, paid to Mongolia last week.
This visit was organized in frames of 45th anniversary of the Mongolia-Japan diplomatic relations after another visit of the Japanese side--Tadamori Oshima, Speaker of the House of Representatives of Japan paid earlier this year. Motoo Hayashi’s visiting group consisted of 58 people including parliamentarians and delegates of the private sector.
Within the visit, the Japanese delegation had a courtesy call on the President of Mongolia. Furthermore, the delegation held meetings with M.Enkhbold, Parliament Speaker, S.Batbold, Mayor of Ulaanbaatar, Ts.Elbegdorj, a former President of Mongolia, D.Sumiyabazar, Chairman of Mongolia-Japan Parliamentary Friendship Group, and other parliamentarians on September 7.
In addition, a displaying show of Japanese foods and products was organized. It was followed by a meeting held between the Mongolian and Japanese Chambers of Commerce and Industry.
The Japanese delegation hopes that the visit would contribute to boosting the bilateral relations through active cooperation, and expressed its aspiration to strengthen the collaboration between the friendship groups in making this visit more fruitful and forwarding the ties in other fields.
ULAANBAATAR (GoGo Mongolia) - On Sep 7-8, mining and coal entrepreneurs gathered at Shangri-La Hotel Ulaanbaatar for the 7th annual Coal Mongolia conference and discussed the coal sector issues.
The vast majority of Mongolia`s export income comes from copper and coal sales. The country`s estimated coal reserves are 173 billion tons.
More coal exploration was done in Central and Eastern regions than in Western regions. It is clear that the coal reserves of the country to increase if exploration will be conducted in the West.
Currently, a total of 242 licenses have issued and 82 mines are operating in the coal sector. The main feature of this sector is that the main players are domestic companies. Therefore, most of the revenues from coal stay in Mongolia, not transferred to another country. In other words, this sector has few foreign investors.
Two special events have been concluded with this year's conference. First, coking coal prices have risen in China as major miners` profit went up. However, China tightened its border inspection. Second, Ministers of Mining and Heavy Industries as well as Energy did not attend the conference due to the resignation of Prime Minister J.Erdenebat and his government. Deputy Ministries came to the conference.
In late August, China intensified its check on trucks passing the Gashuun Sukhait border port and extended the time for the examination. Thus, a 70-km long truck line was formed at the Gashuun Sukhait port. The reason for this was explained by the fact that truck drivers are often caught up in smuggling goods such as animal products.
However, conference attendees considered that is a decision of the Beijing and related to politics. On the other hand, Ambassador to Mongolia from China has not attended the Coal Mongolia for the first time this year. Moreover, delegations of Chinese state-owned coal firms, Chalco and Shenhua said that they could not attend the conference due to visa issues.
On the other hand, Mongolia has taken all possible measures to increase the capacity of the Gashuun Sukhait port by adding the number of employees and improving their work environment. However, President of Mongolia Kh.Battulga has contacted the representative of Dalai Lama and talked about cooperating with India in the defense sector, making Beijing angry. Therefore, China decides to decrease the amount of coking coal.
Last spring, coking coal price went up to USD 300 in Australia. Following coking coal price have risen in Mongolia. Authorities increased the coal sales revenue to the state budget, setting at 220 billion MNT. However, due to the long line formed at the border with China, the country expects to have a budget deficit.
Deputy Minister of Road and Transportation B.Tsogtgerel noted that measures are being taken to solve the problem raised at the border crossing with China. Thus, the first must do homework for the new Minister of Foreign Affairs is to calm Beijing and increase the number of trucks loaded with coal.
Ulaanbaatar /MONTSAME/ Mongolia is being ranked fourth place with its coal export in the world, following Australia, Canada and the U.S.
Today, 99 per cent of Mongolian coal is being exported to China. In 2016, the coal import of China went up by 23 per cent as the annual working days of local mines have been lowered from 365 to 276.
A MONTSAME news agency's correspondent interviewed Sun Shouren, General Secretary of the National Coal Association of China, during the Coal Mongolia-2017 Conference held last week in Ulaanbaatar. Sun Shouren said “Mongolia is the third biggest country to supply coal to China, and the coal import from Mongolia began to revive this year. Last year we imported a total of 24 million tons of coal from Mongolia. In the first six months of this year, the China's coal import from Mongolia reached 15 tons. We expect that the import from Mongolia will be higher than the sizes of last year”
He also noted that Mongolia’s coal quality is high and easy to process as it is semi-soft and its ash content is low.
BEIJING - Containerized trade among BRICS nations saw robust growth in the first half of this year, according to the world's largest container shipping company Maersk Line.
Demand has improved as most of the world's major economies started to recover this year, and the growth among BRICS countries continued to outpace the global average, said Mike Fang, managing director for Maersk Line's Greater China Cluster.
"There is much potential to enable trade among BRICS nations and we will definitely look into it," he said in a statement.
Maersk's exports from China to India increased 26.2 percent year-on-year in the first half, those to Brazil and South Africa both rose 8.7 percent, while Maersk's imports from South Africa to China surged 43.9 percent, according to Fang.
The company's statistics showed customers in other BRICS countries were most attracted to Chinese textiles and clothing, consumer electronics and furniture.
While China's imports still focused on raw materials and resources, Maersk saw increases in the imports of meat from Brazil as well as fruit and nuts from South Africa.
E-commerce developed very fast with other BRICS countries' products gaining traction on the Chinese market, Fang said.
Customs data showed a 37.7-percent year-on-year growth in China's imports from other BRICS countries in the first seven months of this year, faster than the 28.7-percent increase in exports to those countries.
Grouping Brazil, Russia, India, China and South Africa, BRICS accounted for 23 percent of the 2016 global economy, almost double their share in 2006, and contributed to more than half of global growth.