1 ‘ASIAN DOOR 2018’ FAIR KICKS OFF WWW.MONTSAME.MN PUBLISHED:2018/11/21      2 BEYOND BITCOIN: THE OTHER CRYPTOCURRENCIES YOU SHOULD KNOW TOO WWW.CNN.COM PUBLISHED:2018/11/21      3 ATTRACTING INVESTMENT FROM FRANCE TO AGRICULTURAL SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      4 MONGOLIA AND RUSSIA TO EXPAND COOPERATION IN TRANSPORT SECTOR WWW.MONTSAME.MN PUBLISHED:2018/11/21      5 NEWLY-OPENED CHINA-MONGOLIA FRIENDSHIP CULTURAL CENTER TO BOOST TIES WWW.CHINA.ORG.CN PUBLISHED:2018/11/21      6 UN APPRECIATES MONGOLIA’S CONTRIBUTIONS FOR NORTHEAST ASIA WWW.NEWS.MN PUBLISHED:2018/11/21      7 BHP OFFICIALLY DROPS 'BILLITON' FROM NAME WWW.MINING.COM PUBLISHED:2018/11/21      8 THE NOTICE: WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2018/11/21      9 IRKUTSK REGION SUPPLIES USD 31 MILLION PRODUCTS TO MONGOLIA WWW.MONTSAME.MN PUBLISHED:2018/11/20      10 27 PARLIAMENT MEMBERS SUBMIT PETITION ON CABINET DISSOLUTION WWW.ZGM.MN PUBLISHED:2018/11/20      ОРОН СУУЦНЫ БАРИЛГЫН ӨРТГИЙН ИНДЕКС III УЛИРАЛД ЖИЛИЙН ДҮНГЭЭР 15 ХУВИАР ӨСЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/21     САЙЖРУУЛСАН ТҮЛШНИЙ БОРЛУУЛАЛТ УДААШИРЧЭЭ WWW.ZGM.MN НИЙТЭЛСЭН:2018/11/21     ЗАСГИЙН ГАЗРЫН ТОГТВОРГҮЙ БАЙДЛААС ҮҮДЭЖ “ГЭРЭГЭ” БОНДЫН ХАНШ БУУРЧЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/21     ЭДИЙН ЗАСГИЙН ӨСӨЛТ 7.1 ХУВЬД ХҮРНЭ ГЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/21     ТӨРИЙН ҮЙЛЧИЛГЭЭ ЦАХИМД ШИЛЖЛЭЭ WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/21     УЛААН БУУДАЙ, ТӨМСНИЙ ДОТООДЫНХОО ХЭРЭГЦЭЭГ БҮРЭН ХАНГАНА WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/21     "ГУДАМЖ" ТӨСЛИЙН 14 БАЙРШЛЫН, 50 ТЭРБУМ ТӨГРӨГИЙН БАЙГУУЛАМЖИЙГ НИЙСЛЭЛИЙН ӨМЧИД БҮРТГЭЖ АВЛАА WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/21     САНАМЖ: WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2018/11/21     ЭРЧИМ ХҮЧНИЙ ИХ АЧААЛАЛ 973 МВТ-Д ХҮРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/20     ЗАСГИЙН ГАЗРЫГ ОГЦРУУЛАХ БИЧИГ ӨРГӨН БАРЬСНЫ ДАРАА "ГЭРЭГЭ" БОНДЫН ХАНШ БУУРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/20    

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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Mongolia to speed up implementation of China-funded projects www.montsame.mn

Ulaanbaatar /MONTSAME/ During its regular meeting on October 17, the Cabinet praised the outcomes of the 15th Meeting of the Mongolia-China intergovernmental commission for the trade, economic, scientific and technical cooperation, took place in China on September 17.

Deputy Prime Minister and Head of Mongolian side to the Mongolia-China intergovernmental commission for the trade, economic, scientific and technical cooperation U.Enkhtuvshin was instructed to approve the action plan and oversee the implementation.

The two sides concurred to renew the trade structure, develop value-added production, increase capacities of border checkpoints, reduce trade barriers as well as to expand agricultural trade.

During the intergovernmental meeting, the sides also discussed intensifying implementations of the projects that being financed with the soft-loan and non-refundable aid of the Chinese Government.

The Mongolian side expressed that Mongolia is attaching a significance to constructions of the 20.9 km long auto road from Gachuurt intersection to Nalaikh and Choir intersections, of a new Wastewater Treatment Plant of Ulaanbaatar and of a hydro power plant of Erdeneburen.

Moreover, they reached an agreement to develop infrastructures of the border checkpoints, construct apartment complex for 1008 households and formulate joint action plan to implement projects in 2018-2020.

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US moves to negotiate trade deals with Japan, UK, EU www.bbc.com

The US has said it intends to negotiate three separate trade agreements with Japan, the UK and the EU.

It could take several months before the negotiations begin, it said.

The move is part of US President Donald Trump's efforts to reshape trade policies to support his "America First" agenda.

It comes as the US has been fighting a trade war with China, the world's second largest economy.

"We will continue to expand U.S. trade and investment by negotiating trade agreements with Japan, the EU and the United Kingdom," US trade representative Robert Lighthizer said.

"We are committed to concluding these negotiations with timely and substantive results for American workers, farmers, ranchers, and businesses."

The US plans to start negotiations with Japan, the world's third largest economy, "as soon as practicable, but no earlier than 90 days from the date of this notice," Mr Lighthizer wrote in a letter to Congress.

Negotiations with the United Kingdom will start "as soon as it is ready" after it leaves the European Union in March 2019, he said.

The aim is "to address both tariff and non-tariff barriers" and to achieve free, fair and reciprocal trade" Mr Lighthizer said.

Mr Trump's preference for bilateral deals over multilateral ones is part of a more protectionist trade policy he has carried out since taking office in 2016.

He pulled the US out of the Trans-Pacific Partnership deal early in his administration and has renegotiated a trade deal between the US, Canada and Mexico.

Mr Trump's trade war with China continues to escalate, with companies already feeling the pinch and experts warning it will harm global growth.

The UK, which is seeking to broaden its trading partners as it heads towards Brexit, welcomed the news.

"The UK welcomes the US Administration's confirmation that it intends to begin negotiations for a Free Trade Agreement with the UK once we have left the EU," a government spokesperson said.

While the UK is not able to negotiate trade agreements until it formally leaves the EU, a US-UK working group launched in 2017 has been preparing the ground for a potential future trade agreement.

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Construction of Mongolia’s new oil refinery is 40 percent completed www.news.mn

On Monday, (15 October), Prime Minister U.Khurelsukh visited the Altanshiree soum of Dornogobi, where Mongolia’s new oil refinery is being constructed. The oil refinery is extremely important to the national economy; although possessing oil reserves, Mongolia has no processing capacity – this means that the country has to import practically all its oil from Russia. A small refinery was set up in the 1960’s by Soviet petroleum engineers, but this facility was destroyed in a fire. The Soviet Union appears to have lost interest in Mongolia as a source of hydrocarbons at about the time the giant West Siberian oil and gas province was discovered in the late’60’s.

The long-awaited construction of the new refinery began in June. The Indian-funded project is expected to end the country’s dependence on Russian fuel. Currently, 40 percent of construction of building the road, electrical power infrastructure has completed. Over 500 people with more than 260 specilised vehicles are working on site.

The refinery is located 18 km from Sainshand, the provincial centre of the Dornogobi province, covers 150 hectares and will be capable of processing 1.5 million tonnes of crude oil per year. Currently, reserves are projected at 40 years. The new refinery, planned for completion in late 2022, will meet all of the nation’s demand for gasoline, diesel, aviation fuel and liquefied petroleum gas (LPG).

Mongolia produced 7.6 million barrels of crude oil last year, about 21,000 bpd, amounting to 6 percent of its total export earnings. Currently, all of this is exported to China.

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Mongolia to export live sheep, goats next year www.xinhuanet.com

ULAN BATOR, Oct. 16 (Xinhua) -- Mongolia is planning to export live sheep and goats from the first quarter of next year, the government's press office said on Tuesday.

The construction of a complex which is responsible for disinfecting male sheep and goats to be exported is 50 percent complete, the press office said in a statement.

The complex covering an area of 600 hectares in Zamiin-Uud soum (administrative subdivision) in the southeastern province of Dornogovi is expected to be commissioned within the first quarter of next year.

According to the authorities, the complex will have the capacity to export about 5,000 sheep and goats per day.

The work is part of the government's efforts to diversify its mining-dependent economy and support nomadic herders.

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Regional Logistics Center puts into operation www.montsame.mn

A Regional Logistics Center established in Zamyn-Uud soum of Dornogobi aimag was put into operation. PM U.Khurelsukh, members of parliament, minister of Road and Transport Development and other officials attended the opening ceremony of the world standard transport and logistics center.

The logistics center has 11,6 km long railway, 1.6 km long auto road, 19 m long ferro-concrete bridge and other facilities and buildings, covers a total of 128 hectares of land. Moreover, two tower cranes with 50 tons of carrying capacity, allows to transship 620 containers a day.

Minister of Road and Transport Development Ya.Sodbaatar:

“According to our calculations, by having the logistics center built, transship capacity of transit transport of commodities, such as consumer goods and mined commodities, will increase and have a positive impact on the economy”.

The regional logistic center is expected to give an impetus to augment transit transport, raise its efficiency, improve passing capacity of the state border checkpoint and develop mixed transport system. Specifically, it will make contribution to the development of Mongolia-Russia-China Economic Corridor and improvement of commercial and trade turnover.

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Paul Akiwumi: Mongolia has potential to be the most highly developed country among landlocked countries www.montsame.mn

“Mongolia has a possibility to structurally transform the economy by developing domestic manufacturing and infrastructure alongside with preparing educated human resource”.

These are the words highlighted by Mr Paul Akiwumi, Director of Division for Africa, Least Developed Countries and Special Programmes at the UNCTAD /United Nations’ Conference on Trade and Development/. He gave a speech at the sub-regional workshop with the theme “Fostering Structural Transformation and Export Diversification in Selected Asian Landlocked Developing Countries”.

Co-organized by the International Think Tank for Landlocked Developing Countries (LLDC) and the United Nations’ Conference on Trade and Development (UNCTAD), the workshop was attended by delegates of LLDCs/ International Think Tank for Landlocked Developing Countries/ in Asia: Mongolia, Kazakhstan, Kyrgyzstan, Uzbekistan, Laos and Bhutan, experts and researchers of international organizations such as the UN Economic and Social Commission for Asia and the Pacific and the Mineral Fund to discuss ways to no longer depend on mining commodities and diversifying the economy and share experiences.

Executive Director of the International Think Tank for LLDCs E.Odbayar

“Some landlocked countries that are economically dependent on few types of mining products have yet to find a way out of the situation. But instead, some of those countries have found interesting solutions to how the economy can be further developed using the sector, what kind of funds should be established and how the income should be correctly spent and allocated, which are being discussed at the workshop”.

The 2-day-workshop will issue policy recommendations on solving challenges that the regional countries face.

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MET: We chose an option that less affects citizens’ health www.zgm.mn

Ministry of Environment and Tourism (MET) held a press conference on measures against air pollution yesterday, explaining MNT 54 billion installment of stove pipe appliances to over 100,000 households. Minister of Environment and Tourism Minister Tserenbat Namsrai addressed, “Health is our number one priority. Around 52.9 percent of citizens in Ulaanbaatar city have been diagnosed with respiratory diseases. We have to consider the value of citizens’ health. According to an independent study, medical institutions spend over MNT 10 billion on treating the respiratory diseases of children under the age of 18. Another study highlighted that children living in air polluted environment have 40 percent shorter lung capacity than those in the countryside.” “The same study suggests that 80 percent of air pollution in Ulaanbaatar city accounts for 220,000 household stove pipes and the population is increasing with each passing year,” explained Minister Tserenbat. MET estimates the installment of the appliance will drastically reduce air pollution in the capital. Although the cost is enough to construct accommodations for 900 households or finance the prepayment of 4,000 household mortgage loans, these measures will be ineffective in the short-term according to MET. “We chose an option that less affects citizens’ health,” stressed Mr. Tserenbat and added, “This was a mathematical solution to reduce air pollution. Also, we restricted the use of low-pressure stoves and reduced raw coal consumption by around 10 percent.”

HOUSEGOLD ENERGY EXPENSE TO AVERAGE MNT 22,000 WITH THE APPLIANCE

The MET spokesperson provided information on the fully supportive combustion appliance. “The appliance was created by Mongolian engineers and has been studied for 9 months straight by the working group responsible for developing the appliance. This is not a filter. This is an appliance for complete combustion of coal particles and the manufacturer will give 3-years of guarantee on their product,” informed MET spokesperson. The ministry also explained that the installment to 100,000 household is not a test and said, “We are working on installing the appliance only to a short-list of households. Monthly household energy expense will be around MNT 22,000 after installing the appliance and we will try to reduce this cost.”

• Around 52.9 percent of citizens in Ulaanbaatar city have been diagnosed with respiratory diseases.

• 80 percent of air pollution in Ulaanbaatar city accounts for 220,000 household stove pipes.

• This is not a filter. This is an appliance for complete combustion of coal particles.

S.KOREAN SOFT LOAN WILL BE FULLY SPENT ON HOUSING

Minister Tserenbat informed, “The housing policy will be implemented as a long-term solution. The public needs to understand that this measure is an advanced technology to realistically reduce air pollution in the short-term. We are cooperating with the Export-Import Bank of Korea and Mongolian Ministry of Finance to allocate South Korea’s USD 500 million soft loan on housing ger district households.” He then announced that he will take responsibility if the measure fails to reduce air pollution.

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Rio Tinto Says Q3 production falls on planned maintenance and safety pauses www.mining.com

Oct 16 (Reuters) – Global miner Rio Tinto Ltd said its third-quarter iron ore shipments fell about 5 percent, hurt by planned maintenance and safety pauses across all operations following a fatality.

Shipments from its Australian mines fell to 81.9 million tonnes in the third quarter compared with 85.8 million in the same period a year ago, the miner said, snapping four consecutive quarters of increases.

UBS had estimated quarterly Pilbara iron ore shipments of 82.5 million tonnes.

In August, a truck operator was fatally injured at Rio's Paraburdoo Iron Ore mine in Western Australia.

Rio, which competes with BHP and Brazil's Vale SA in the seaborne-traded iron ore market, maintained its target to ship at the upper end of the guidance range of 330 to 340 million tonnes for 2018.

The Anglo-Australian said on Oct. 11 that it expected raw materials costs for its aluminium division about $400 million higher versus a year ago for 2018 and that costs should stay elevated into next year.

Higher thermal coal prices are likely to have an additional negative impact of $100 million in 2018 for its Pacific Aluminium smelters, it added.

Rio Tinto, which has contracts with sanctions-hit aluminium maker UC Rusal, continues to monitor the impact of the U.S. sanctions but has not declared force majeure to date, it said.

The weak quarter comes after a brisk first half, when all of the big four iron ore miners bolstered shipments to China which seeks higher grades to comply with stricter environmental regulations.

China buys just over half of Australia's commodity exports.

In an effort to maintain production capacity to feed China's giant steel industry Rio said on Oct. 1 that the miner and its Japanese joint venture partners will spend about $1.55 billion at two iron ore projects in Western Australia.

The announcement came as Rio has been selling off its coal assets in order to focus on its core commodities.

In other metals, Rio’s copper output jumped 32 percent to 159,700 tonnes in the quarter thanks to robust production from its Kennecott Utah Copper business.

(By Aditya Soni in Bengaluru; Editing by Sandra Maler)

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Australian firm acquires Centerra Gold assets in Mongolia www.zgm.mn

Brisbane-based Australian firm OZD Capital has announced that the company is investing in Mongolia through its subsidiary OZD Asia PTE Ltd. In other words, the company is investing in Mongolia’s mining projects by acquiring Centerra Netherlands and Centerra Gold Mongolia LLC, which is the 100 percent direct shareholder of Boroo Gold LLC. OZD Capital is the parent company of OZD Asia PTE and focuses on emerging markets, specifically in mining and metal assets by financing and operating them. The company is largely owned by Australian, Singaporean and Mongolian stakeholders.

Centerra Gold assets in Mongolia valued at USD 35 million
A board member of OZD Capital highlighted, “The deal aligns with the company’s core strategy to invest and operate mining and metal assets of emerging markets.” OZD Capital also informed that they have precious metal assets in Asia, South America and West Africa. The company is headquartered in Brisbane, Australia and has branch offices in Singapore and Mongolia. As for OZD Asia, which signed the deal, is registered in Singapore. While Mongolian projects were valued at USD 35 million, the total amount of the agreement totalled USD 90 million according to OZD Capital.

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Russian Defense Minister to pay official visit to Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ Defense Minister of the Russian Federation, Army General S.Shoigu will pay an official visit to Mongolia on October 18 at the invitation of his Mongolian counterpart N.Enkhbold.

Mongolia and Russia have been closely cooperating in defense sector and the latter’s visit to Mongolia is important to revive historic traditions of training personnel, strengthening military and technical cooperation and develop cooperation further.

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