1 JEFF BEZOS IS NOW WORTH MORE THAN BILL GATES AND LARRY PAGE COMBINED WWW.CNN.COM PUBLISHED:2018/07/17      2 APARTMENT COMPLEX FOR YOUNG FAMILIES UNDER CONSTRUCTION IN ERDENET WWW.MONTSAME.MN PUBLISHED:2018/07/17      3 NUM GRADUATES INVITED TO WORK FOR TOSHIBA CORPORATION WWW.MONTSAME.MN PUBLISHED:2018/07/17      4 RUSSIA & UNITED STATES CAN COMPETE & WORK TOGETHER IN ENERGY MARKET - PUTIN WWW.RT.COM PUBLISHED:2018/07/17      5 TESLA IS GETTING A CHINA FACTORY. THIS $4 BILLION STARTUP WILL BE WAITING WWW.BLOOMBERGTV.MN PUBLISHED:2018/07/17      6 HOW MINING TYCOONS ARE TRYING TO FOIL A BIG UK BRIBERY PROBE WWW.MINING.COM PUBLISHED:2018/07/17      7 MONGOLIA'S TOURISM REVENUE INCREASES BY 20 PERCENT WWW.NEWS.MN PUBLISHED:2018/07/16      8 WATER LEVELS OF MAJOR MONGOLIAN RIVERS EXCEED ALARM LINE WWW.XINHUANET.COM PUBLISHED:2018/07/16      9 CHINA SETS RECORD DAILY STEEL OUTPUT FOR THIRD MONTH IN A ROW WWW.REUTERS.COM PUBLISHED:2018/07/16      10 RUSSIAN RETAILERS, HOTELS EMERGE AS WORLD CUP WINNERS WWW.THEMOSCOWTIMES.COM PUBLISHED:2018/07/16      ОЛОН УЛСЫН ИННОВАЦИЙН ИНДЕКСЭЭР МОНГОЛ УЛС 53-Т ЖАГСЧЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/07/17     ШАДАР САЙД НҮБ-ЫН ӨНДӨР ТҮВШНИЙ УУЛЗАЛТАД ОРОЛЦОЖ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     "ТАВАНТОЛГОЙ"-Н ТӨМӨР ЗАМЫН ТӨСӨЛ УРАГШЛАХ ЭСЭХ НЬ SHENHUA-ГААС ШАЛТГААЛАХААР БАЙНА WWW.ZGM.MN НИЙТЭЛСЭН:2018/07/17     ХӨШИГИЙН ХӨНДИЙН НИСЭХ БУУДАЛД 5.3 ТЭРБУМ ТӨГРӨГИЙН ҮНЭ БҮХИЙ ЦАЦРАГИЙН ХЯНАЛТЫН ТӨХӨӨРӨМЖ СУУРИЛУУЛНА WWW.DNN.MN НИЙТЭЛСЭН:2018/07/17     2017 ОНЫ САНХҮҮГИЙН НЭГДСЭН ТАЙЛАН ЗӨРЧИЛГҮЙ ДҮГНЭГДЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2018/07/17     2018 ОНЫ ЭХНИЙ ХАГАСТ ХЯТАДЫН ДНБ 6,8 ХУВИАР ӨСЧЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     МОНГОЛ УЛС ЯПОН УЛСАД 100 МЯНГАН АМ.ДОЛЛАРЫН ХҮМҮҮНЛЭГИЙН ТУСЛАМЖ ҮЗҮҮЛЭХЭЭР БОЛЛОО WWW.GOGO.MN НИЙТЭЛСЭН:2018/07/17     ОУВС-ГААС МАНАЙ УЛС 184.5 САЯ ДОЛЛАРЫН САНХҮҮЖИЛТ АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/17     МАНАЙ УЛСЫН ЗЭЭЛЖИХ ЗЭРЭГЛЭЛ ДЭЭШИЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/07/16     “ЭРДЭНЭС-ТАВАНТОЛГОЙ” 40 САЯ ДАХЬ ТОНН НҮҮРСЭЭ ОЛБОРЛОЖЭЭ WWW.NEWS.MN  НИЙТЭЛСЭН:2018/07/16    

Events

Name organizer Where
"Open to Export" ICC WTO International business award ICC WTO London

NEWS

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Discussion on environmental management and planning held www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 5, within the framework of cooperation between Ulaanbaatar City Administration and the Asia Foundation, a discussion under the theme "Environmental management and planning issues in connection with mining activities near Ulaanbaatar city” was held.
 
At the beginning of the discussion, Meloney C.Lindberg, Asia Foundation's Country Representative in Mongolia mentioned that the Asia Foundation has established a memorandum with the Ulaanbaatar City Administration. In this scope, the Asia Foundation agreed to give support and assistance regarding issues on ongoing mining activities near the capital.
 
During the meeting, participants discussed ways to solve pressing issues and challenges and the sides agreed to continue to cooperate with all corresponding parties of public and private sectors and civil society on land rehabilitation.
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Cyclone damage causes BHP to declare force majeure in Australia www.mining.com

 
World’s largest miner BHP Billiton (ASX:BHP) said on Wednesday it won't meet its coal export commitments due to the damage caused by a cyclone that struck Australia’s north-east coast last week.
 
Damage to rail lines in cyclone-hit Queensland have disrupted the shipment of between 15 million and 20 million tonnes of coking coal destined to Asia.
The company, which is also the world's biggest shipper of steelmaking coal, said force majeure has been declared for all coal products from its joint ventures with Mitsubishi Corp. and Mitsui & Co.
 
"BHP Billiton continues to assess haulage options to manage access from mine sites to ports and shipments to customers," it said in the statement.
 
Aurizon Holdings, Australia's top rail freight operator, was forced to close some key routes between inland mines and export terminals to repair the damage caused by cyclone Debbie. Earlier this week, Aurizon said it could take more than a month to get some of those critical lines running again.
 
Queensland accounts for more than 50%of global seaborne coking coal supplies, so problems in the area have caused prices to climb about 9% on expectations that supply will remain disrupted for weeks. Analysts at Standard & Poor estimated this could mean between 15 million and 20 million tonnes of coking coal supply could be eliminated from global markets.
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Boundaries of Gatsuurt gold deposit set at 3025 hectares www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ During its regular meeting held on April 4, the Cabinet made a decision on setting the gold deposit area of Gatsuurt to be 3025 hectares. In doing so, geological formation, mineralization, exploration criteria, metallized area and areas where mining construction could be made were taken into account.
 
In compliance with an order of the Minister of Mining and Heavy Industry, a working group was assigned to determine the boundaries for two mineral deposits from among 16 deposits of strategic importance, Erdenetiin Ovoo copper and molybdenum deposit and Gatsuurt gold deposit, working on site in March.
 
Special license for utilization of Gatsuurt gold deposit is owned by Centerra Gold LLC and 50 tons of proven, actual and potential gold reserves are registered to the state registration database. The Gatsuurt deposit is located in Mandal soum of Selenge aimag, 180 km from Ulaanbaatar and 45 km from the Boroo gold deposit.
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Foreign Minister pays visit to Vietnam www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 2-4, Minister of Foreign Affairs of Mongolia Ts.Munkh-Orgil paid an official visit to the Socialist Republic of Vietnam at the invitation of Deputy Prime Minister of Vietnam and Minister of Foreign Affairs Phạm Bình Minh.
 
Foreign Minister Ts.Munkh-Orgil met with Nguyễn Xuân Phúc, Prime Minister of Vietnam and Deputy Prime Minister and Minister of Foreign Affairs Phạm Bình Minh and held official talks. The Foreign minister noted that Mongolia gives great importance to stimulating traditional friendly relations of Mongolia and Vietnam and exchanged views on measures to carry out this year, such as official visit of Vietnamese Vice President to Mongolia and a meeting of intergovernmental commission.
 
Also, the two sides discussed the participation of the Mongolian Prime Minister in the APEC Summit to be held in November in Danang, Vietnam. Afterwards, they agreed to support cooperation among law enforcement bodies, including Ministries of Defense, and National Security Councils through deepening ties between the foreign ministries and strengthening legal frameworks.
 
In addition, Foreign Minister Ts.Munkh-Orgil met with the Vietnamese Minister of Industry and Trade Minister of Agriculture and Rural Development and Head of Vietnamese group of Mongolia-Vietnam Intergovernmental commission to exchange opinions on issues regarding trade, investment and economic relations of Vietnam and Mongolia.
 
At the meetings, the Mongolian sides its willingness to learn from Vietnamese experience on the negotiations on establishing free trade agreements as well as its role in the regional integration and the Mongolian and Vietnamese sides agreed to cooperate in this regard.
 
In the scope of preparation of meat and meat products' exports from Mongolia to Vietnam, Mongolian Foreign Minister Ts.Munkh-Orgil and Vietnamese Minister of Agriculture and Rural Development Nguyen Suan Gyöng signed Memorandum of Understanding on cooperation in veterinary inspection and quarantines between the General Authority of Specialized Inspection of Mongolia and Ministry of Agriculture and Rural Development of the Socialist Republic of Vietnam.
 
Furthermore, the dignitaries talked about ways to increase trade turnover between the two countries, export agricultural products, such as hides, wool and cashmere products to Vietnam and import fruits, coffees and sea products from Vietnam to Mongolia, reports the Ministry of Foreign Affairs of Mongolia.
 
The two sides also discussed to broaden cooperation in all spheres, including tourism, mining, mineral, culture, education, sports and science through promoting partnership of the private sectors of Mongolia and Vietnam. The Vietnamese side confirmed its willingness to cooperate with Mongolia in areas of banking and finance, roads and transportation, energy supply and oil exploration and extraction. In conclusion, the latter expressed its willingness to assist Mongolia to join the Asia-Pacific Integration, by noting that Mongolia and Vietnam have great possibilities to work together in the both regional and international fora.
 
 
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Bezos is selling $1 billion of Amazon stock a year to fund rocket venture www.reuters.com

 
Amazon.com Chief Executive Jeff Bezos said on Wednesday he is selling about $1 billion worth of Amazon stock per year to fund his Blue Origin rocket company, and expects to spend about $2.5 billion developing a rocket capable of lifting satellites and eventually people into orbit.
 
Blue Origin is aiming to launch paying passengers on 11-minute suborbital space rides next year, Bezos told reporters at the U.S. Space Symposium here.
 
 
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Monsanto sees almost 30% profit jump www.rt.com

 
US seed and agrochemicals company Monsanto has reported better-than-expected second quarter earnings, helped by strong demand for its soybean and corn seeds.
 
Net income for the quarter ending February 28 jumped 28.7 percent to $1.4 billion.
 
The company posted earnings of $3.19 per share, topping analysts' average estimate of $2.79 per share. Sales rose to $5.07 billion from $4.53 billion a year earlier.
 
"The company's performance was driven in part by strong gross profit growth from its corn and soybean businesses, the absence of the Argentine peso devaluation and benefit from the sale of its Latitude wheat fungicide business," Monsanto said.
 
The company’s CEO Hugh Grant said “We are delighted to have delivered such an excellent first half and strong second quarter, in the face of what is still a tough macro economy for agriculture.”
 
Sales of corn seed and traits rose eight percent, while sales of soybean seeds and traits jumped 10.2 percent.
 
The total corn, soybean and cotton acreage in the US is projected to be 2.2 percent higher in 2017, which is positive for Monsanto; analyst at Susquehanna Financial Group, Don Carson told Bloomberg.
 
Monsanto is the subject of a $66 billion takeover bid by German pharmaceuticals giant Bayer, expects full-year profits to be also higher.
 
Last year, Bayer agreed to buy the American company for $128 a share. If approved by regulators, the acquisition will make Bayer the world’s biggest seed and pesticide producer. Monsanto said it expects completion of the merger with Bayer by the end of the year.
 
As one of the world’s leading manufacturers of genetically modified seeds, Monsanto is regularly accused of facilitating the production of GM foods.
 
The company’s technologies allow the production of large quantities of food for a relatively low cost. Monsanto says the technique allows farmers in poorer countries nations to have better harvests. However, many pro-organic consumers argue these crops carry significant health and environmental risks.
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Major Japanese retailers to embrace bitcoin payments www.rt.com

 
A few days after Japan recognized bitcoin as a legal method of payment, two of the country’s biggest retailers have sealed cooperation agreements with bitcoin exchanges to begin accepting the digital currency.
 
The two leading retail groups, Bic Camera and Recruit Lifestyle, have announced trials of a bitcoin payment option, according to Japanese daily Nikkei.
 
Bic Camera, a consumer chain selling electronics, has partnered with the Tokyo-based bitcoin exchange bitFlyer. The retailer will test the digital currency in two outlets.
 
Consumers will be able to pay up to 100,000 yen ($900) using bitcoin, getting reward points at the same rate as for cash payments.
 
Recruit Lifestyle, the retail branch of human resources conglomerate Recruit Holdings, is cooperating with another Tokyo bitcoin exchange operator Coincheck to include bitcoin payment option into its AirRegi application.
 
The step will enable over 260,000 outlets across the country to start accepting bitcoin. Coincheck will process payments made by consumers using the app, converting bitcoins into yen and transferring the funds to the store.
 
Japan is poised to become one of the leading cryptocurrency markets. Nearly 4,500 Japanese stores are currently accepting bitcoin while over 700,000 outlets actively use other modes of digital payments.
 
The legislation giving digital currencies legal status as a payment method came into force last week, offering bitcoin an opportunity to be accepted in over a quarter of a million stores and retail locations. Starting in July, purchases using a virtual currency will be exempt from the consumption tax.
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Steve Potter: We remain committed to Mongolia and mining industry www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ “I would probably describe the current situation as cautious optimism”, remarked Steve Potter, Executive Director of Wagner Asia Equipment LLC, the official distributor of Caterpillar Inc in Mongolia during the opening ceremony of Mongolia Mining 2017 international mining expo on April 5.
 
He was talking about Mongolia' mining sector on which the company’s business is mostly dependent on. Wagner Asia Equipment LLC has been in Mongolia for the last 21 years. “It’s been a bumpy road”, he said. “But we remain committed to this country and the industry, and we think that exhibitions and conferences like Mongolia Mining help Mongolia promote its mining industry to the wider world”, he added.
 
Wagner Asia Equipment LLC, the Dealer of Caterpillar Inc in Mongolia is the largest heavy equipment supplier in the country, providing products and supporting services to the mining, construction and infrastructure and energy sectors.
 
“We’ve been a supporter of the Mongolia Mining exposition pretty much since the start”, the Executive Director said. Mr. Potter has personally been part of the expo for the last 6 years.
 
“Mongolia Mining has already established its status as a major international mining event in the last few years”, he conveyed.
 
He then proceeded to assess Mongolia’s mining sector saying, “Although Mongolian mining industry has gone through some challenges in recent years, the fact remains that Mongolia is already a major mining country, and has the potential to become a lot bigger as it has lots of commodities that others need. It’s located closely to China which is a major market and in the Asian region which is probably the fastest growing region in the world. So in the longer term, Mongolia is going to benefit from its rich commodities and geographic location”.
 
 
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Bank of Mongolia implementing project to build gold refinery www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ The Bank of Mongolia purchased 18.3 tons of gold in 2016 and is aiming to buy 20 to 25 tons annually between 2017 and 2020. Following this objective, the working group was assigned to research opportunities to build domestic gold refinery.
 
In compliance with the first stage of the National Sustainable Development Agenda 2030 and government's Gold-2 project, a joint working group was established to be composed of the central bank, Ministry of Mining and Heavy Industry, “Erdenes Mongol” LLC and Precious Metals Assay Inspection Department to conduct studies on opportunities to build domestic gold refinery and is now preparing plans for 2017.
 
Mongolia used to refine its gold in foreign countries, such as Russia, United Kingdom and Japan in the past and is currently refining gold in Switzerland. Refining Mongolian gold abroad takes a considerable amount of money for transportation, insurance and security. Also, the average content of gold extracted from Mongolia is around 85 percent, which has to be refined up to 99.99 percent in order to be traded on global markets.
 
Therefore, by establishing gold refinery plant, the aforementioned issues will be tackled and have a positive effect on the economy.
 
 
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Tavantolgoi-Gashuunsukhait road to be repaired www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ Last year, the road connecting Tavantolgoi deposit with Gashuunsukhait Mongolia-China border checkpoint carried 16.3 million tons of coal and yielded revenue of MNT 31.33 billion. Unfrotunately, the same year has seen more than 200 accidents and traffic violations that took 3 lives.
 
At the regular cabinet meeting, held on April 5, Tuesday, Minister of Road and Transport Development D.Ganbat introduced some intended measures toward coal transports on the above mentioned route.
 
The main cause of accidents enroute is the road damages, triggered by the exceeded load and flow of traffic. The road has been taking 150-250 vehicles a day. Now with the increased coal price on the global market and the increased demand, about a thousand vehicles are transporting coal on this road.
 
Although maintenance works are being conducted as per the schedule, the road is still in dire need to go through overhaul repair, said the Minister.
 
The latter was then tasked to organized partial repairs for the Tavantolgoi-Gashuunsukhiat road without blocking the traffic.
 
Prime Minister J.Erdenebat instructed to include multiple road companies in the road repair works in order to complete the maintenance by October, as well as to ban the use of dirt road during the repair.
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