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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BoM issues 1-week bills www.montsame.mn

The Bank of Mongolia traded 438.4 billion MNT worth 1-week maturity central bank bill (“CBB”), with weighted average yield of 12.0 percent per annum. /For previous auctions click here/.

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.

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Global nuclear power capacity could double by 2050 www.rt.com

The world’s installed nuclear power capacity could increase by 123 percent in 2050 compared to 2016 levels, the International Atomic Energy Agency (IAEA) said in a report this week.

These projections, however, are the so-called high in 2050. In the low case, the IAEA estimates are for a decline in capacity in the near future, followed by a rebound to current levels nearer 2050. In the high case, nuclear capacity is expected to rise from 2016 levels by 42 percent in 2030, 83 percent in 2040, and by 123 percent by mid-century.

The main factors that are and will be influencing the future of nuclear energy are public acceptance, financing, and electricity markets.

“If nuclear power’s potential as a low-carbon energy source grows in recognition and advanced reactor designs further improve both safety and radioactive waste management, the use of nuclear power could grow significantly,” the IAEA says.

At the end of 2016, installed nuclear capacity reached 392 gigawatts (electrical) (GW(e)), which was the highest level ever, according to the IAEA.

However, funding and safety will be crucial to the development of nuclear energy.

“The safety performance of nuclear installations is crucial to the future of nuclear power, as a strong safety record is essential for its public acceptance,” the IAEA commented, noting that “The financing of nuclear projects is challenging, given the highly capital-intensive nature of such projects, their resulting sensitivity to interest rates and construction durations, and the nature of the uncertainties.”

North America and Europe will see declines in nuclear capacity, while China’s nuclear energy plans will be the main driver of growth, the IAEA reckons.

Oil supermajors BP and ExxonMobil also project that China’s installed nuclear capacity growth will be the key driver of this type of power generation.

In the US, nuclear power currently accounts for around 20 percent of electricity generation. According to the EIA, more nuclear capacity in the US will be retired than built, as other fuels such as natural gas and renewables gain market share. In EIA’s reference case estimates, the share of nuclear in the US electricity generation mix will drop from 20 percent last year to 11 percent in 2050, while natural gas will grow the most, followed by renewables.

According to the IAEA, reduced competitiveness is the main reason for planned premature shutdowns “low natural gas prices, particularly in the USA, caused by a rapid expansion of shale gas production, have fundamentally transformed the energy economy.”

In Europe, Germany ordered the immediate shutdown of eight of its 17 reactors in the wake of the Fukushima disaster in Japan, and plans to phase out nuclear plants by 2022. Earlier this year, Switzerland—which has five ageing nuclear power plants generating one-third of its energy demand—voted to phase out nuclear power in favor of renewables.

The IAEA’s low-case projection is that the share of nuclear in global electricity generation could drop from the current 11 percent to 6 percent in 2050, while the high-case sees that share rising to 13.7 percent in 2050.

BP and Exxon, in their respective 2017 energy outlooks, see nuclear playing a part in the transition of the global fuel mix.

BP’s most recent annual energy outlook sees renewables, together with nuclear and hydroelectric power, accounting for half of the growth in energy supplies over the next 20 years. While nuclear capacity in Europe will decline by 2035 due to decommissioning of ageing plants and little investment in new capacity, Japan could restart some reactors but would not return to pre-Fukushima levels. China’s ambitious nuclear energy plan will account for almost three-quarters of the global increase in nuclear generation. As a result, BP sees the share of coal in China’s energy demand down from around two-thirds in 2015 to less than 45 percent by 2035. Much of the lower share of coal will be replaced by renewables, nuclear, and hydroelectric power, which will supply more than half of China’s increasing energy demands until 2035, BP says.

Exxon’s current outlook through 2040 sees nuclear growing, with more than 50 percent of the growth coming from China.

“Society’s push for lower-emission energy sources will drive substantial increases for nuclear power as well as renewables such as wind and solar. By 2040 nuclear and all renewables will be approaching 25 percent of global energy supplies,” Exxon reckons.

Public acceptance, safety records, the price of natural gas, and climate policies will be crucial to the future of nuclear energy.

This article was originally published on Oilprice.com

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Chile's Codelco preparing investment in Mongolian copper www.reuters.com

SANTIAGO (Reuters) - Chilean state miner Codelco [COBRE.UL], the world's second largest producer of copper, is preparing to invest in far afield Mongolia as the copper market improves, the company's chief executive told Reuters on Friday.

In an interview as part of the Reuters Latin American Investment Summit in Codelco's copper-coated offices in downtown Santiago, Nelson Pizarro said the company was aiming for medium-term investments in the isolated Asian nation, which appears to have significant untapped copper potential.

"We have a lot of interest. We're learning to milk camels," he said. "We're working to get the first documents that will allow us to advance in that area, and we hope to bring it about in the medium-term if the technicians confirm our initial perspective."

In Chile itself, Pizarro said Codelco was preparing to launch a broad sustainability program called "green copper," which will include broad use of wind and solar power in its operations and the use of water from the ocean rather than Chile's parched Atacama Desert.

As part of that, the company has recently settled on a short-list of bidders interested in constructing a $1.2 billion desalination plant, and hopes to award the contract toward the end of 2017, he said. In northern Chile, miners have increasingly looked to the ocean in recent years to supply the water-intensive process of copper mining without coming into conflict with local communities.

Codelco is also considering new port infrastructure, as its copper exports are being increasingly interrupted by waves hitting Chile's desert coasts, forcing the ports to close, said Pizarro.

"There are months with 10 days in which we can't send out ships ... That's something we've never seen before," he said. "It would seem to be a consequence of climate change. It concretely impacted us last year, and it's strongly impacting us this year."

Still, Pizarro said, Codelco was in line to meet its 2017 copper production target of around 1.7 million tonnes. That number would likely decrease about 3 percent or 4 percent in 2018, he added.

In terms of the global copper market, Pizarro said a number of factors, such as the needs of the burgeoning electric car industry, could mean average 2017 copper prices of above $2.60 per pound, significantly higher than recent years. That trend should consolidate in 2018, he added.

"The copper price, unless there's a great global crisis should be - I don't know if $2.90 - but yes in the $2.60 to $2.70 range next year."

Reporting by Gram Slattery; Editing by Tom Brown

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Mongolia and China discuss their relations and cooperation politics www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolia and the People’s Republic of China Thursday held the 3rd meeting of the Strategic Talks between their Ministries of Foreign Affairs, in Ulaanbaatar.

Co-chaired by D.Davaasuren, the State Secretary of the Mongolian Foreign Ministry; and Kong Xuanyou, the Assistant Foreign Minister of China, the meeting considered the bilateral relations and cooperation issues.

The parties noted the Mongolia-China comprehensive strategic partnership relations have been intensively developing recent years, and expressed their willingness to boost the friendly ties and win-win cooperation. They underlined an importance of strengthening the political mutual trust.

Regarding the bilateral trade and economic cooperation, the sides concurred to realize works agreed during high-level cooperation. The Foreign Ministries agreed to collaborate in a project on the Tavantolgoi and Shivee-Ovoo railways and construction of apartments in place of ger areas and in exporting deeply-processed mining products to China.

The Mongolian side emphasized non-refundable aid and soft-loans from the China’s government have contributed to the Mongolian socio-economic development, and expressed its aspiration to accelerate implementation of projects with the loans and assistance.

The countries will focus attention to launching actions of the Humanitarian Council established last May and boosting the cooperation in the culture, education, health and tourism spheres through a specific plan, so the parties agreed to hold the Council’s 1st meeting in fourth quarter of this year. At the meeting, the parties exchanged views on the international and regional cooperation as well. 
B.Khuder

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Iron ore price makes fresh high above $70 www.mining.com

The Northern China import price of 62% Fe content ore jumped 1.6% on Thursday to exchange hands for $76.10 per dry metric tonne according to data supplied by The Steel Index. It's the highest price since early April and the steelmaking raw material is now trading 43.6% up from its 2017 lows struck in June.

Iron ore's latest rally comes after Shanghai rebar futures – the world's most traded steel contract – jumped to the highest level since March 2013 on Thursday reaching 4,016 yuan ($601) a tonne on Thursday.

Chinese traders are worried about a steel supply crunch as Beijing steps ups efforts to crack down on polluting plants. The country wants to cut output by as much as 50% during winter months.

In Hebei province, China's key producing region, steelmakers have until September 1 to comply with stringent new emissions regulations or would be shut down. Some 120 million tonnes of low-quality steel capacity were shuttered during the first six month of the year.

Beijing's policies to clean up and consolidate the domestic steel industry is playing into the hands of iron ore exporting countries with low grade furnaces – particularly those that use scrap – being forced out of business. Authorities are also clamping down on pollution from sintering plants, a necessary extra step when using low grade ore (domestic Chinese iron content averages only about 20%) to make steel.

A worry for the industry has been high stockpiles in China and inventories at the country's ports remain near all-time highs dipping to 139.2 million tonnes last week compared to the record set June 23 at 141.5 million tonnes according to Steelhome data. However, traders tell Reuters "steel producers are increasingly opting for higher grade iron ore to boost efficiency":

"There isn't a lot of high-grade around and Chinese mills are preferring high-grade because they want to produce more with steel prices rising," said a trader in Jinan in China's eastern Shandong province.

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UB to collaborate with program in innovation www.montsame.mn

Ulaanbaatar /MONTSAME/ Ulaanbaatar city’s Department of Industry and Innovation (UBDII) has established a memorandum of mutual understanding with the Investment Program on development of ger areas in UB.

The document was signed on Friday by B.Bat-Erdene, head of the UBDII; and D.Avirmed, chair of the program. Accordingly, the parties will cooperate in developing industrial and innovation sectors as well as import substitution industrialization.

Reflected in the “Happy City” program within the 2016-2020 Action Program of UB Mayor, the UBDII has objectives to boost innovation and industries in settlement areas, to create centers for promoting goods and services and to introduce know-how, progressive technologies, innovation products and industries and franchising.

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VN, Mongolia promote economic, scientific, technological cooperation www.e.vcci.com.vn

VGP – Minister of Agriculture and Rural Development Nguyen Xuan Cuong has led a Vietnamese delegation to attend the 16thsession of the Viet Nam-Mongolia Inter-Governmental Committee on economy, trade, science and technology in Ulan Bator, Mongolia.

They held talks with the Mongolian delegation, led by Minister of Food, Agriculture and Light Industry Sergelen Purev.

The two sides discussed measures on cooperation between the two nations, including diplomacy, defense and security, economics, trade and investment, agriculture and natural calamity prevention, science and technology, transport, education, culture, sports and tourism, labor, health and other sectors.

They agreed on cooperative orientations and discussed ways to improve the effectiveness of cooperation to meet their Governments’ demand.

In the future, they will promote exports of advantageous items such as agricultural and aquatic products.

The two sides consented to exchange information and create a favorable environment for their businesses to join international and domestic activities and exhibitions and the implementation of the Memorandum of Understanding (MoU) on co-operation in inspections and animal quarantine inked in April 2017.

The same occasion, Minister Nguyen Xuan Cuong met with Mongolian PM Jargaltulga Erdenebat.

The PM hailed the importance of the meeting of the Committee in the context that the two sides are making efforts to consolidate the traditional and friendship relations, which was set up in 1954.

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J.Erdenbat PM meets assistant FM of China www.montsame.mn

Ulaanbaatar /MONTSAME/ J.Erdenebat, the Prime Minister of Mongolia, Thursday received a delegation led by Mr Kong Xuanyou, the Assistant Foreign Minister of China, who participated in the 3rd meeting of the Strategic Talks between their Ministries of Foreign Affairs.

The Premier underlined the above meeting widely discussed the bilateral relations and cooperation, giving an impetus to boosting the comprehensive strategic partnership ties.

“Last May, I visited China and participated in the Belt and Road Summit in Beijing. During this meeting, I shared the bilateral relations and cooperation issues with Xi Jinpin, the PRC President; and Li Keqian, counterpart of China. These meetings contributed to deepening our comprehensive strategic partnership relations in all spheres,” Mr Erdenebat said.

“We aim to realize works agreed during these visits and to provide our people with profits resulted by the high-level visits,” Mr Erdenebat emphasized, and then asked the Assistant FM to support this matter.

Expressed thanks to the Premier for an audience, Mr Kong Xuanyou agreed with an importance of implementing the concurred works, and said he will convey the issue to relevant officials.

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WeChat, Weibo and Baidu under investigation www.bbc.com

China's largest social media platforms - Weibo, WeChat and Baidu Tieba - are under investigation for alleged violations of cyber security laws.
The Office for Cyberspace Administration said the three platforms had failed to police content on their sites.
It said people had been using the platforms to spread terrorism-related material, rumours and obscenities.
The breaches "jeopardised national security," the administration said.
Heavy censorship
The micro-blogging site Weibo, the messaging app WeChat and the internet discussion forum run by Baidu each attract hundreds of millions of users in China.
The authorities there heavily censor the internet, routinely blocking content or search terms and removing posts they consider sensitive.
They also block foreign social media sites and apps, including Facebook, Instagram and Twitter.
Search engines like Google are blocked, and access to many foreign media outlets is restricted too.
The government has further tightened restrictions ahead of the highly sensitive Communist Party Congress.
It is also clamping down on users who try to get around the restrictions, by tightening regulations on Virtual Private Networks.
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Iron ore price makes fresh high above $70 www.mining.com

The Northern China import price of 62% Fe content ore jumped 1.6% on Thursday to exchange hands for $76.10 per dry metric tonne according to data supplied by The Steel Index. It's the highest price since early April and the steelmaking raw material is now trading 43.6% up from its 2017 lows struck in June.

Iron ore's latest rally comes after Shanghai rebar futures – the world's most traded steel contract – jumped to the highest level since March 2013 on Thursday reaching 4,016 yuan ($601) a tonne on Thursday.

Chinese traders are worried about a steel supply crunch as Beijing steps ups efforts to crack down on polluting plants. The country wants to cut output by as much as 50% during winter months.

In Hebei province, China's key producing region, steelmakers have until September 1 to comply with stringent new emissions regulations or would be shut down. Some 120 million tonnes of low-quality steel capacity were shuttered during the first six month of the year.

Beijing's policies to clean up and consolidate the domestic steel industry is playing into the hands of iron ore exporting countries with low grade furnaces – particularly those that use scrap – being forced out of business. Authorities are also clamping down on pollution from sintering plants, a necessary extra step when using low grade ore (domestic Chinese iron content averages only about 20%) to make steel.

A worry for the industry has been high stockpiles in China and inventories at the country's ports remain near all-time highs dipping to 139.2 million tonnes last week compared to the record set June 23 at 141.5 million tonnes according to Steelhome data. However, traders tell Reuters "steel producers are increasingly opting for higher grade iron ore to boost efficiency":

"There isn't a lot of high-grade around and Chinese mills are preferring high-grade because they want to produce more with steel prices rising," said a trader in Jinan in China's eastern Shandong province.

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