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The first results from Erdene Resource Development’s (CN:ERD) 2017 drilling at Bayan Khundii in southwest Mongolia have carried on from where the previous year’s programme left off.
Looking to connect and extend the Midfield and Striker zones at the project, the company has hit some serious mineralisation worthy of follow up.
The standout hit was a 131.5m intercept averaging 3.86g/t Au from 39m depth, which came within the Midfield-Striker area. This also contained an 80m hit grading 6.03g/t Au from 42m depth.
What this hole and others in the 2017 programme have confirmed is that gold mineralisation at these zones extends down dip to the south. They have also gone some way to endorsing the idea that the Striker and Midfield zones, the two most prominent zones identified at Bayan Khundii, connect.
Erdene is working on generating a resource at the project this year. These intercepts on top of hits like 116m grading 2g/t Au from surface have seen the company’s share price rise more than 350% in the past year.
US airline Delta is facing a public-relations problem after a family claimed they were kicked off a flight for refusing to give up a child's seat.
"This is a federal offence and then you and your wife will be in jail and your kids will be in foster care," a crew member can be heard telling the family.
A YouTube video of the incident has clocked up more than two million views.
Delta said it was "sorry for the unfortunate experience" and would compensate the family.
The incident follows the case of passenger Dr David Dao, who grabbed global headlines when he was injured while being physically removed from a United Airlines flight last month.
He settled in court last month for an undisclosed sum.
The latest incident happened on a flight from Maui in Hawaii to Los Angeles on 23 April, but only came to light when the video was posted online.
The eight-minute video shows Brian Schear arguing that he has paid for the seat, while crew members try to convince him to give up the seat, on a flight Mr Schear claims was overbooked.
Mr Schear said he had originally booked the seat for his older son, who had taken an earlier flight to make sure one of his other children would have a seat.
One crew member initially told him that his other son owned the seat so the toddler could not sit there.
His two-year-old was sitting in a child safety seat, which crew members then claimed was banned under Federal Aviation Administration (FAA) regulations and said the child would have to sit in an adult's lap.
That is at odds with Delta's published advice, which says that for children under two years "we recommend you purchase a seat on the aircraft and use an approved child safety seat". The company's advice says an infant under two may be held in a parent's lap if they choose.
The FAA's website also "strongly urges" parents to put young children in a safety device in their own seat.
An airline employee then told Mr Schear "the plane is not going to move... we can all sit here all night if that's what you guys want to do".
Despite Mr Schear later relenting and agreeing to hold the child, the crew member tells him the family was being removed from the plane because "it's come too far".
When he responds that there is nowhere for his family, including two infants, to go and no more flights, the crew member can be heard saying: "You guys are on your own."
The family eventually left the flight, and Mr Schear said their seats were filled by four other passengers waiting with tickets.
Later, he told CBS News: "The bottom line is, they oversold the flight."
His wife, Brittany, who recorded the video, told NBC News that she was upset they were threatened with prison.
"When you're a mother and you have your one-year-old and your two-year-old and they threaten to take your kids away from you, I mean whether that's possible or whether that's, you know against the law, it just, it made my heart drop," she said.
On Thursday evening, a day after the video was posted, Delta released a statement about the incident.
"We are sorry for the unfortunate experience our customers had with Delta, and we've reached out to them to refund their travel and provide additional compensation," the company said.
"Delta's goal is to always work with customers in an attempt to find solutions to their travel issues. That did not happen in this case and we apologise."
Ulaanbaatar /MONTSAME/ In connection to the ongoing nomination of presidential candidates, Mongolian People’s Revolutionary Party held its convention today, May 4 at its headquarters.
The convention addressed the issue of the party’s nominee and action plan for the upcoming Presidential Election. Prior to the convention, the party’s Executive bureau met and resolved to nominate the party’s Chairman Enkhbayar Nambar.
During the convention, majority of the convention’s participants supported the bureau’s proposal, thus the Mongolian People’s Revolutionary Party nominates former President N.Enkhbayar for the June 26 election.
Paradoxes abound along route of Belt, Road
In Beijing, you beg for the wind to start, here, in Erenhot, you beg for the wind to stop.
Bordering Mongolia, Erenhot in North China's Inner Mongolia Autonomous Region is located 700 kilometers north of Beijing. A recent visit to the city brought me messages from the North.
"Mongolia is a brutal and green force, if you plant genetically modified food, they send you to jail."
"Mongolia has no industrial exports, all it has is meat."
"Most Mongolians are quite friendly toward Chinese people, but there are those who treat Chinese otherwise."
These messages came from border people who frequently had social and economic interactions with Mongolians, and the proximity to these sources makes Erenhot a perfect place to contemplate the progress of and impediments to the China-Mongolia-Russia economic corridor, a key component of the China-proposed "One Belt and One Road" (B&R) initiative.
Officially called the Silk Road Economic Belt and the 21st Century Maritime Silk Road, the B&R initiative was proposed in 2013.
To be sure, there are some paradoxes. Take the transportation sector, for example. On the one hand, China, Mongolia and Russia are jointly experimenting with an overland route to be serviced by freight trucks crossing the borders and delivering goods to clients in all three countries.
On the other, seasoned transportation operators at Erenhot said they just dump their goods onto Mongolian trucks waiting at the border and skip the rest of the journey, because years ago they were harassed by some Mongolians to such an extent that they now avoid the business.
The railway is an even more appropriate example. On the one hand, Mongolia has expressed its willingness to attract more CHINA RAILWAY Express [freight] services to traverse its territory by offering a discounted access fee, according to a document seen by the Global Times.
On the other hand, traders who had actually used the Mongolian railway system sharply criticized its outdated infrastructure and low efficiency. "[In transportation], the Mongolian section has become a bottleneck for the China-Mongolia-Russia economic corridor," said one.
It leaves one wondering: Why is it that even as Chinese-funded railways have flourished from the plateaus of Ethiopia to the savannah of Kenya, a China-related railway infrastructure project in Mongolia is largely ignored?
The matter is at root one of political distrust. Just as Mongolians adamantly defend their traditional, self-sufficient, nomadic lifestyle against globalization and modernization, some Mongolians are also carefully evading the influence of a rising China.
While the two sentiments are understandable, albeit for different reasons, neither is likely to survive.
Many Mongolians visiting Erenhot said that they just feel like visiting a relative's home, and it is based on this cordial relationship of trust that border trade has prospered.
It is undeniable that the Mongolian economy is closely related to China's and Russia's. The effect of a third country, such as Japan, is very limited.
How Mongolia ended in a bust from a boom and it solved its recent debt woes are to a large extent related to its attitude toward China.
On the state level, maybe something can be learned. Only when there is mutual trust, can the bonds of the Silk Road Economic Belt truly link the two complementary economies.
Mongolia's opposition Democratic Party on Thursday tapped former judo star and self-made millionaire Khaltmaa Battulga as its candidate in next month's presidential election in the landlocked country which is facing economic crisis.
With just three million people, Mongolia, a former Soviet satellite best known as the birthplace of the Mongol emperor Genghis Khan, has long stood as an oasis of democracy, sandwiched between autocratic giant neighbors China and Russia.
Mongolia's political transformation since a peaceful revolution in 1990 has been a big plus for foreign investors eyeing its rich mineral resources.
Mongolians choose their next president on June 26 as incumbent president and fellow Democrat Tsakhia Elbegdorj completes his second and final term amid flagging economic conditions following a short-lived mining boom that left few better off.
The Democrats led a governing coalition from 2012 to 2016 before the Mongolian People's Party won back the parliament last year, winning 65 seats in the 76-member legislature.
Battulga, a former judo star turned business tycoon, was a member of parliament before losing his seat last year.
He previously had ministerial roles in roads and transport as well as agriculture, and is known for his criticism of China, especially over concerns Mongolia is too economically dependent on its neighbor.
Battulga will face parliament speaker Mieygombo Enkhbold from the Mongolian People's Party.
Mongolia's economy has slid into problems caused by heavy foreign debt, a collapse in its currency and a slowdown in growth in its biggest trading partner, China.
The International Monetary Fund has postponed a $5.5 billion bailout for Mongolia because of a measure included in the country's 2017 budget that forces foreign firms to bank with domestic institutions.
There have also been concerns about the government's growing authoritarian tendencies.
Last week blank screens and red text warning about threats to press freedom interrupted Mongolian television to protest against planned legal changes media groups say could harshly punish journalists accused of defamation ahead of elections.
The government subsequently backed down.
(Reporting by Terrence Edwards; Editing by Ben Blanchard)
Ankara has withdrawn a 130 percent tariff on Russian grain following the meeting between Russian President Vladimir Putin and his Turkish counterpart Recep Tayyip Erdogan in Sochi.
Russia will resume exporting wheat to Turkey without restrictions starting from Thursday, Turkish Economy Minister Nihat Zeybekci told Bloomberg.
Turkey introduced the tariff on Russian grain in response to Moscow's ban on Turkish tomatoes and other produce following the downing of a Russian jet in Syria in November 2015.
While Russia risked losing its second biggest buyer of wheat after Egypt, Turkey had faced higher prices elsewhere.
The Wednesday meeting in Sochi between Putin and Erdogan did not solve the issue of Turkish tomatoes. Putin said Russian farmers have taken out significant loans to boost domestic production and construct greenhouse facilities, so lifting restrictions now will hurt them.
However, Turkey will sell tomatoes to Russia in seasons when the country can’t grow sufficient amounts. Before the deterioration in relations, 70 percent of Turkish tomatoes were exported to Russia.
Ankara’s apology and the subsequent thaw between the countries failed to settle the issue. In March, Russia lifted the restrictions against Turkish onions, cauliflower, broccoli and some other vegetables, explaining there is a lack of these food items in Russia.
Turkey complained that it's only a fraction of tomato sales.
“Russia raised restrictions on some products that totaled $19 million. That’s the value of what’s exported by one little company," Turkish Foreign Minister Mevlut Cavusoglu told Bloomberg in April.
Turkey has failed to replace the Russian market, and its farmers are facing hard times without exports to Russia.
“We cannot survive without the Russian market. Wastage rates have never been this high,” Munir Sen, the head of the association of fruit and vegetable brokers in Mersin, a city which has Turkey’s biggest seaport, told Bloomberg.
BEIJING - While the much-awaited first Chinese-built passenger jet C919 is ready to make its maiden flight Friday, it may take much longer for the newcomer to take off in the aviation market.
Shaking the dominance of aviation giants Boeing and Airbus in the near future is unrealistic, observers say, but the Chinese jetliner could be a strong option for global carriers in decades to come.
Scheduled to depart from Shanghai Pudong International Airport on May 5, the C919, with 158 seats and a standard range of 4,075 kilometers, is expected to compete with the updated Airbus 320 and Boeing's new generation 737.
A total of 23 foreign and domestic customers, including China's national carrier Air China and leasing company GE Capital Aviation Service, have placed orders for 570 aircraft, according to the Commercial Aircraft Corporation of China (COMAC).
But this is only the very first step. Even in China's domestic market, COMAC has a long way to go to turn technical success into business success.
Currently, Chinese airlines seem to be more keen to spend money on wide-body aircraft to enhance their global routes with rising enthusiasm for overseas travel. Those jets are still the exclusive province of Boeing and Airbus.
China Eastern Airlines signed contracts in 2016 to buy 20 A350-900 aircraft from Airbus and 15 B787-9 aircraft from Boeing to be delivered between 2018 and 2022.
China Southern Airlines announced in April that it will buy 20 A350-900 with a total catalog price of nearly $6 billion.
Boeing and Airbus are very mature aircraft manufacturers, and COMAC should seek further cooperation with them to learn from their experiences, according to aviation analysts.
But looking ahead, single-aisle planes like C919 will be the market mainstream and COMAC should do well in the Chinese market, one of the most competitive.
Boeing predicted last year that China will become the world's top aviation market within 20 years, projecting a demand for 6,810 new aircraft in the next two decades with a total value of $1 trillion.
China will need 5,110 new single-aisle airplanes through 2035, accounting for 75 percent of the total new deliveries, according to Boeing.
The C919 will be a strong competitor in this field being economical and comfortable, according to a research note from Guosen Securities.
If the maiden flight is successful, COMAC will seek airworthiness certificates from the Civil Aviation Administration of China and foreign aviation safety regulators before making its first deliveries.
Also, to pave way for C919 to enter foreign markets, the airworthiness certification of the jet will be a part of bilateral air safety agreement talks between China and the EU.
China has invested heavily in commercial passenger jet manufacturing. In 2007, plans to develop a domestic large passenger jet were approved by the State Council. In November 2015, the first C919 jet rolled off the assembly line.
The ARJ21, the country's first regional aircraft also produced by COMAC, began commercial operations in June 2016 following its maiden flight in 2008....
Parliament cancelled its decision to pass big projects sales income through Mongolian banks www.montsame.mn
Ulaanbaatar /MONTSAME/ The second clause of Parliamentary resolution number 29, which indicated to raise state currency reserve by passing sales income of big projects with foreign investment through accounts of Mongolian banks, was cancelled during yesterday’s (May 4) plenary session of the Parliament. 65.5 per cent or 36 MPs out of the attended 55 backed to cancel the clause.
On April 14, parliament approved amendments to the 2017 state budget and other following laws and resolutions, which included resolution number 29. The Budgetary standing committee of Parliament developed a draft resolution to cancel the clause, in a request by Finance Minister, because it has caused difficult condition to implement joint program with the International Monetary Fund.
During the discussion, Democratic Party group in parliament asked five-day break in connection with the issue. DP group head MP D.Erdenebat said the discussion of the issue breaches the law on parliamentary procedure and the pressing problem could be resolved without touching the very important clause. However, DP group was allowed just 30-minute break, and after which the discussion continued, approving to cancel the second clause.
According to the Report on Environmental State For 2015-2016, 76.8 percent of the Mongolian territory has been struck by desertification as a consequence of fast-spreading dryness in the recent years. The report was presented by Minister of Environment and Tourism, Ms D.Oyunkhorol at a cabinet meeting.
The main cause of desertification was the 2.5 times increase in the population of livestock since 1990 and failure to maintain the traditional methods of pasture rotation and going on search for better grazing lands, says the report.
Another concern is the increased frequency of atmospheric hazards. In specific, average of 30 atmospheric incidents were observed each year from 1990 and 2000, whereas the number had doubled between 2001 and 2016. For instance, the number of days with dust storms went up to 47 in 2015 from 37 in 2014.
Although Mongolia’s total carbon dioxide emission is lower than the global average, 6.08 metric tons of CO2 emission per capita indicates a number that is quite higher than the global average.
Climate change, pastoral degradation and improper mining activities have speeded up the drying process of surface waters – springs, rivers, ponds and lakes. According to results of 2016 centralized census of surface water, a total of 774 springs, 263 small and large rivers and 346 lakes have dried out.
Moreover, 88 percent of the soil samples from Ulaanbaatar used in the soil test conducted in 2014 were tested positive with various bacteria, mould and fungus, as well as ammonia contamination in densely populated areas.
Wastewater coming from the central sewerage and industrial waste have contributed to Tuul River pollution. The report reads that contents of nitrate azote and rock phosphate at the river’s influx have tendency to increase since 1985.
TOKYO -- Japanese leasing company Orix decided Thursday to invest about $627 million in an American geothermal technology company, aiming to bring the technology to Asia to tap what it expects to be a growing market.
Orix will take a 22.1% stake as early as July in Nevada-based Ormat Technologies, which designs, builds and sells geothermal power plants and equipment. The New York-listed company also operates plants in the U.S., Central America and Africa. The company reported revenue of $662.6 million last year, an 11% increase. It is the world's top maker of binary geothermal equipment, which can generate power even at lower temperatures.
This will mark Orix's first investment in a geothermal company. The group already operates a geothermal plant via the Suginoi Hotel in Japan's Oita Prefecture, which it acquired in 2002. It has partnered with Japanese municipalities in the field as well. The company anticipates growing demand for geothermal power as a form of renewable energy that does not depend on weather.
Orix has been expanding its renewable-energy operations through investments in other enterprises. It bought into an Indian wind power project in March 2016 and a Vietnamese hydroelectric company that September.