1 COPPER MINER'S $10B BET COMES TO LIFE IN PANAMA JUNGLE WWW.MINING.COM PUBLISHED:2019/02/15      2 TRADE UNIONS REQUEST PM TO FOCUS ON INTEREST RATE CUT WWW.ZGM.MN PUBLISHED:2019/02/15      3 MONGOLIA’S HOURLY WAGE TO REACH USD 1 WWW.NEWS.MN PUBLISHED:2019/02/15      4 US NARCOTICS BY POST TO MONGOLIA! THREE ARRESTED WWW.NEWS.MN PUBLISHED:2019/02/15      5 WRITER D.URIANKHAI NOMINATED FOR THE NOBEL PRIZE WWW.MONTSAME.MN PUBLISHED:2019/02/15      6 MONGOLIA-CHINA-RUSSIA ECONOMIC CORRIDOR BENEFITS ALL SIDES: OFFICIAL WWW.XINHUANET.COM PUBLISHED:2019/02/15      7 SOLAR EMPOWERMENT OF NOMADS IN RURAL MONGOLIA WWW.GREENOPTIMISTIC.COM PUBLISHED:2019/02/15      8 MONGOLIA, CUBA TO BOOST BILATERAL RELATIONS WWW.PLENGLISH.COM PUBLISHED:2019/02/15      9 GOOGLE OUTLINES $13BN US INVESTMENT WWW.BBC.COM PUBLISHED:2019/02/14      10 NATIONAL DEVELOPMENT AGENCY TO COOPERATE WITH JAPAN’S MIZUHO BANK WWW.MONTSAME.MN PUBLISHED:2019/02/14      “ОЮУ ТОЛГОЙ” КОМПАНИ 570 ТОННЫ ДААЦТАЙ CAT БРЭНДИЙН ГИДРАВЛИК ЭСКВАТОРООР ХҮЧЭЭ СЭЛБЭЛЭЭ WWW.GOGO.MN  НИЙТЭЛСЭН:2019/02/15     ӨРХИЙН САРЫН ДУНДАЖ ОРЛОГО 78,000 ТӨГРӨГӨӨР ӨССӨН Ч ЗАРЛАГА ДАВСАН ХЭВЭЭР БАЙНА WWW.IKON.MN НИЙТЭЛСЭН:2019/02/15     АВСТРАЛИЙН ЭЛЧИН САЙД ДЭВИД МЭТЬЮ ВОСЭН ИТГЭМЖЛЭХ ЖУУХ БИЧГЭЭ ӨРГӨН БАРИВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2019/02/15     2018 ОНД МОНГОЛ УЛСЫН ЭДИЙН ЗАСАГ 6.9 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     МХБ: II/15-НЫ БАЙДЛААР 8 КОМПАНИ ХЭХ-ЫН ТОВОО ГАРГААД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     2017 ОНД 1.9 ТЭРБУМ ТӨГРӨГИЙН АЛДАГДАЛТАЙ АЖИЛЛАСАН “УЛААНБААТАР БҮК” 2018 ОНД 566 САЯ ТӨГРӨГИЙН АШИГТАЙ АЖИЛЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2019/02/15     ОРХОН ТҮҮХИЙ НҮҮРСНЭЭС ТАТГАЛЗСАН АНХНЫ АЙМАГ БОЛНО WWW.UNUUDUR.MN НИЙТЭЛСЭН:2019/02/15     АТГ-ААС НЭР БҮХИЙ 6 ШҮҮГЧИЙГ ШАЛГАЖ ЭХЭЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2019/02/15     МОНГОЛ УЛС ДЭЛХИЙН 77 ОРОНД БАРАА ЭКСПОРТОЛСНООС ХЯТАДАД 93%-ИЙГ НЬ НИЙЛҮҮЛЖЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14     АВТО МАШИНЫ ИМПОРТ 2018 ОНД 30% ӨСӨЖ, 86,296-Д ХҮРЧЭЭ WWW.IKON.MN  НИЙТЭЛСЭН:2019/02/14    

Events

Name organizer Where
“Doing business with Mongolia”, “UK Investors show” бизнес хөтөлбөр March 27-April 02. 2019 ЛОНДОН ХОТ, ИХ БРИТАНИ Mongolian Business Database London UK
SYMPOSIUM ON GLOBAL MARKETS Nationalism and Protectionism: The United States in the International Arena June 17-18, 2019 The Center for American and International Law Plano, Texas, USA The Center for American and International Law (CAILAW) Plano Texas June 17-18 2019
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Yorkshire Firm Helps To Build A Home For Mongolian Family In Need www.businessupnorth.co.uk

Yorkshire-based events company, that specialises in hiring beautifully handcrafted yurts, will help to build a home for a Mongolian family in need this Christmas.

Award-winning company Yorkshire Yurts, will donate £1 of every ‘Ski Boot’ drink sold at its Yurt Bar Christmas parties in 2017, to the Christina Noble Foundation’s ‘Give a Ger’ programme.

Yorkshire Yurts, which provides luxurious yurts, marquees and furnishings for weddings, parties and events, has aptly chosen to support the charity in providing funds towards building a traditional yurt, also known as a Mongolian ger, for a family without a home.

Having seen a 26% increase in demand for Christmas party bookings in 2017 compared to last year, Yorkshire Yurts has chosen to celebrate the success of its subsidiary, Yurt Bar, by giving to those in need this Christmas.

Established in 1991, The Christina Noble Children’s Foundation is a partnership of people dedicated to helping children in Mongolia and Vietnam. The charity began working in Mongolia after recognising the thousands of sick and destitute street children living in manholes beneath the streets of the country’s capital, Ulaanbaatar.

The charity provides emergency and long-term medical care, nutritional rehabilitation, educational opportunities, vocational training and job placement to children at risk of sexual and economic exploitation.
Yorkshire Yurts’ Yurt Bar experiences will take place in Moor Allerton on selected dates throughout December; inviting local businesses to celebrate Christmas in a festive, apres-ski themed yurt with a three-course dinner, drinks and live entertainment.

Founder and managing director, Tom Sterne said:

“Having experienced significant demand for our Christmas Yurt Bar parties this December, we felt that a fitting way to give back, would be to support the country that developed the very product our business is based upon.

“With the potential for more than 2,000 attendees at a Yurt Bar Christmas party event, we hope the proceeds will go a long way to providing a Mongolian family with a new home.

“We hope that the money we donate will seriously help to provide a family with the home they desperately need. Christmas is the perfect opportunity to take time to reflect and be grateful for all that we have; both in personally and in business.”

Office Manager at Christina Noble Foundation, Fiona Geoghegan commented:

“The “Give a Ger” programme is an emergency fund which was established in 2001 to provide a home for families in danger of becoming homeless, and those families struggling to survive poverty and the harsh Mongolian winters where temperatures regularly plummet to -40 degrees.

“The gift of a ger does far more than simply removing children from squalid and unhealthy living conditions. The most important factor is that it offers security and stability to families under pressure and the chance of a new start. So a huge thank you to Yorkshire Yurts for supporting this life-changing programme.”

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Russia, Mongolia to discuss economic cooperation in Irkutsk in late October www.interfax.com

IRKUTSK. Oct 9 (Interfax) - The Russian-Mongolian Intergovernmental Commission will meet in Irkutsk on October 18-20, the regional government said in a statement on Monday.

The agenda is still being elaborated.

"To us, the primary benefit of this event will be new business contacts. A new government is being formed in Mongolia after the presidential election, which took place in late June," the statement quoted the Irkutsk region economic development minister, Yevgeny Orachevsky, as saying.

The Mongolia-EAEU 2017 business forum was held in Ulaanbaatar on October 4 with the participation of representatives of the Mongolian Business Council, the Eurasian Economic Union (EAEU), and the EAEU member countries (Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia), the statement said. The forum highlighted trade liberalization mechanisms.

"The Eurasian Economic Union and Mongolia are eyeing a free trade agreement. The document will reduce duties and implement a uniform international certification system, which will save time and money of businessmen," the statement said.

The Irkutsk region is a major trade partner of Mongolia.

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Aspire Mining secures licence for Nuurstei project in Mongolia www.mining-technology.com

Exploration and infrastructure company Aspire Mining has received a mining licence for its Nuurstei coking coal project in Mongolia. 

The licence MV-020941 covers 860.91ha and has been granted by the Mineral Resources Authority of Mongolia.

According to the licence, the company has earned the right to carry out operations over the licensed area for a minimum period of 30 years. Regulatory approval is seen as a significant step in the development of the project.

Aspire Mining managing director David Paull said: “Securing a mining licence is an important milestone and reflects the Mongolian Government’s continued support for the company and the coal industry in general.

"This vindicates our original decision in June 2014 to look to add a new coking coal project, which is not rail dependent and the decision in July 2017 to exercise our option to move to a 90% interest. The company is now working very hard on commercialising this high-quality coking coal project as soon as possible.”

The company will issue ten million shares to Xanadu Mines in order to meet its commitment under the sale and purchase agreement signed in June 2014.

It is currently engaged in preparation for raw bulk coal test at the project in an effort to be able to deliver exports to the Tangshan market in China.

The test is said to be key for completing a feasibility study for the project, in addition to providing commercial scale samples.

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Mongolia and EFTA discuss trade cooperation www.theubpost.mn

The second meeting of the Joint Committee on Cooperation between Mongolia and the European Free Trade Association (EFTA) took place on October 5 in Ulaanbaatar to discuss ways to deal with the current challenges in trade and economic cooperation between the parties.

EFTA is an intergovernmental organization of Iceland, Liechtenstein, Norway, and Switzerland, which was set up to promote free trade and economic cooperation among its members within the world.

Head of the Foreign Trade and Economic Cooperation at the Mongolian Ministry of Foreign Affairs and Deputy Permanent Representative of the Principality of Liechtenstein to the United Nations Office in Geneva Pascal Schafhauser chaired the meeting, and the sides exchanged views on the current situation and future plan of trade and economic cooperation between EFTA and Mongolia, and possible areas to develop investment, renewable energy, agriculture and light industrial cooperation.

During the meeting, the sides focused on finding a solution to solve the two parties’ trade and economic cooperation issues, and the EFTA delegates agreed to study the possibility to provide Mongolia with technical assistance, training seminars, and workshops.

The EFTA delegates agreed to collaborate with Mongolia to help the country export its products to EFTA’s market under the World Trade Organization’s trade facilitation agreement.

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October 9, 2017 Trading report www.mse.mn

On October 9, 2017, 310,466 shares of 57 firms listed as Tier I, II, and III were traded. 36 firms’ shares increased in price, 12 decreased and 9 remained unchanged. Kherlen Khivs JSC was the top performer, increasing 14.98 percent, whereas Mongolian Mortgage Corporation JSC was the worst performer, decreasing 10.09 percent.

1,900 bonds worth MNT 189,107,000 were traded on the secondary market for government bonds and 862 bonds worth 84,079,480 were traded by the block.

The MSE ALL Index rose 0.11 percent to stand at 1105.57. The MSE market cap stands at MNT 2,173,962,878,363

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‘War on coal is over’: EPA scraps Obama-era clean power plan www.rt.com

The Trump administration has put another nail in the coffin of former President Barack Obama’s climate change legacy by withdrawing from the 2015 Clean Power Plan intended to reduce greenhouse gas emissions.

"Regulatory power should not be used by any regulatory body to pick winners and losers," said the head of the Environmental Protection Agency Scott Pruitt Monday, announcing he will sign a new rule rescinding the Obama-era plan. The Clean Power Plan was designed to prompt a shift away from coal-fired power and toward cleaner energy sources, like natural gas, wind and solar.

"The war on coal is over,” Pruitt declared in Hazard, Kentucky, echoing President Donald Trump’s campaign promise to support the American coal industry.

While the coal miners celebrated the news, the administration’s critics blasted the decision.

"By saving an estimated 240 million tons of annual coal production, the administrator’s action helps to safeguard more than 27,000 mining jobs and almost 100,000 additional jobs throughout the supply chain," Hal Quinn, CEO of the National Mining Association, said in a statement.

The move by Trump’s EPA is "a wholesale retreat from EPA's legal, scientific and moral obligation to address the threats of climate change," said Gina McCarthy, Obama’s former EPA administrator.

"They’re adding more pollution into our air and threatening public health at a time when the threats of climate change are growing and the costs are growing immeasurably higher on our children and their future," McCarthy added.

The Clean Power Plan was key to Washington’s implementation of the Paris agreement on climate change, from which Trump withdrew in June. It aimed to reduce US power industry’s carbon dioxide pollution levels 32 percent below the 2005 levels by 2030.

The current EPA chief, who has repeatedly questioned the human role in climate change, sued the environmental agency in 2015 in an effort to block the Clean Power Plan. He argued that EPA overstepped its legal authority by saddling the fossil-fuel industry with unnecessary regulations. Pruitt sued the EPA 13 other times in his capacity as Oklahoma’s attorney general for the agency’s efforts to regulate mercury, smog and other forms of pollution.

Since taking office, Trump has set in motion a number of actions aimed at reversing clean air and water regulations. In February, he nixed a rule that stopped mining companies from dumping waste into streams, and in March, Pruitt said he would stop collecting methane emissions from 15,000 oil and gas operations.

In May, the White House budget proposal cut the EPA’s funding by over 31 percent.

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Tsetsii wind farm launches www.mongolia.gogo.mn

ULAANBAATAR (GoGo Mongolia) - On Oct 6, Clean Energy Asia LLC together with its shareholders, Newcom LLC and SB Energy Corp., successfully launched operations of a 50MW wind farm in southern Mongolia.

Clean Energy Asia LLC commenced the construction of the Tsetsii wind farm in Sep 2016. Within one year, the company completed the installation of 25 wind turbines, the construction of Tsetsii substation and its 32 km long air transmission lines. 
The project has completed three months earlier than planned and nearly 500 employees have worked for the construction, of which 95% were Mongolians.
Located in Tsogttsetsii soum, Umnugobi province, the 50MV wind farm was financed by the debt of Japan International Cooperation Agency (JICA) and the European Bank for Reconstruction and Development (EBRD). Mongolia is the first country to sign a memorandum with Japan on the Joint Crediting Mechanism (JCM) to reduce greenhouse gas emissions.
Mongolia faces great challenges in meeting its growing demand for electricity, almost all of which is currently met by aging and polluting coal-fired plants. The wind farm will help supply Mongolia’s power demand with clean, eco-efficient electricity by harnessing Mongolia’s vast and inexhaustible wind resources. The project will help contribute to the sustainable economic development and the mitigation of climate change.
Mongolia has a power-supply capacity of 1130MW, consisting of 88% coal, 6% diesel, 6% renewable energy, and 2% hydropower sources (Department of Energy, Mongolia, 2015). While being the world’s eighth country most susceptible to climate change (Climate Risk Index. Source: GERMANWATCH “Global Climate Risk Index 2014”), electricity supply-demand balance along with its economic growth is an urgent issue for Mongolia; accordingly, Mongolia is a country that particularly requires safe and secure power sources such as renewable energy. The State Great Khural approved a national power policy in 2015 that sets Mongolia’s mid-to-long term target and plan for 2015-2030 in the energy sector. The policy aims to increase the power generation share of renewable energy to 20% by 2020 and to 30% by 2030, and it stipulates the promotion of investment in the energy industry in cooperation with international financial institutions and donor countries, utilizing the abundant wind and solar resources in the Gobi region. 
The Tsetsii wind farm is estimated to reduce greenhouse gas emissions by approximately 230,000 tons per year while saving 180,000 tons of coal and 1.2 million tons of water per year.
In these circumstances, this Tsogttsetsii wind farm project will help contribute to the increased adoption of renewable energy in Mongolia.

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S.Amarsaikhan elected Chairman of Citizens' Representative meeting www.montsame.mn

Ulaanbaatar /MONTSAME/ The Citizens’ Representative Khural (Council) of Ulaanbaatar elected Amarsaikhan Sainbuyan as the chairman of the Council during its regular meeting on October 9.

21 representatives out of 41 or 51.2 per cent of them at the meeting voted for S.Amarsaikhan, while 19 representatives or 46.2 per cent voted for D.Bayarsaikhan.

On September 22, the Council dismissed former chairman Ts.Sandui in his request. Ts.Sandui put to MPP Steering committee a resignation letter from the post of the meeting chairman and chairman of MPP committee of the capital on August 31.

The City Council members D.Bayarsaikhan and S.Amarsaikhan were nominated the post, but they both got equal vote and MPP group in the Council took a break, postponing the re-voting.

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BOM issues 1-week bills www.montsame.mn

Ulaanbaatar /MONTSAME/ The Bank of Mongolia traded 680 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.

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PM U.Khuresukh receives congratulatory letters from his Russian and Chinese counterparts www.montsame.mn

Ulaanbaatar /MONTSAME/ Prime Minister of Russia Dmitry Medvedev and Prime Minister of China Li Keqiang sent congratulatory letters to U.Khurelsukh on assuming his duty of Prime Minister of Mongolia.

In his letter, the Russian Prime Minister congratulated U.Khurelsukh and remarked on the friendly partnership between the two countries.

“I am confident that development of bilateral trade and economic cooperation and implementation of mutually beneficial projects in investment, transport, energy, agriculture and other sectors will meet the long-term interests of our two countries,” Prime Minister Medvedev wrote.

The Chinese Premier congratulated Prime Minister U.Khurelsukh on being appointed as the new PM of Mongolia and said, “China and Mongolia are friendly neighbors connected by mountains and rivers,”

“China is ready to prioritize bilateral relationship, put collaborative efforts, increase political trust, intensify bilateral relationship and concrete cooperation in all sectors and upgrade China-Mongolia comprehensive strategic partnership to a new level,” the Premier said in his letter.

The Parliament appointed last Thursday U.Khurelsukh as the 30th Prime Minister of Mongolia, succeeding J.Erdenebat.

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