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, U.S. leaders discuss bilateral ties www.xinhuanet.com

ULAN BATOR, Sept. 20 (Xinhua) -- Mongolian Prime Minister Uknhaa Khurelsukh and U.S. Vice President Mike Pence exchanged views on enhancing bilateral ties and cooperation in the White House on Wednesday, the Mongolian Ministry of Foreign Affairs said Thursday.

Noting the United States is a good friend and partner of Mongolia, Khurelsukh said the Mongolian government is willing to cooperate closely with Washington to further strengthen bilateral cooperation in a wide range of areas including trade, investment, agriculture and renewable energy, the foreign ministry said in a statement.

The two sides outlined a roadmap for further strengthening economic cooperation, the statement added.

"Implementing the roadmap is an important part of Mongolia's goal of diversifying its economy and enhancing cooperation with the United States in various sectors such as trade, agriculture and renewable energy," the ministry said.

During the meeting, Khurelsukh invited Pence to visit Mongolia at an appropriate time.

Pence thanked the Mongolian side for its humanitarian aid of camel hair blankets worth 100,000 U.S. dollars to people affected by Hurricane Florence.

"Our government has attached great significance to the bilateral relations. Agreement worth 350 million U.S. dollars between U.S. aid-giving body Millennium Challenge Corporation and Mongolia is an example of it," he said.

Khurelsukh arrived in Washington D.C. on Tuesday for a three-day official visit to the United States.

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Belt and Road significant to Mongolia, people around world -- academic www.eng.yidaiyilu.gov.cn

The China-proposed Belt and Road Initiative (BRI) is a world-class project that is significant to people around the world, a Mongolian academic said Wednesday.

"The BRI is a world-class project that offers great opportunities for cooperation between China and the rest of world in a wide range of areas, including infrastructure and trade," said Gelegpil Chuluunbaatar, first vice president of the Mongolian Academy of Sciences, in an interview with Xinhua on Wednesday.

The BRI aims to build infrastructure and trade networks in areas along ancient trade routes to seek common development and prosperity. Chuluunbaatar described the initiative as "the most impressive development project of this century," saying it "is significant to not only us, but also people around the world."

The Mongolian scholar believed that his country will benefit a lot from the initiative proposed by China in 2013.

"Mongolia shares its 4,710-km land border with China, which is one of the world's fastest-growing economies and world's second-largest economy," he said.

"People all over the world have admired the achievements of China's socio-economic development in recent years. China is our country's main trade partner and biggest export destination," said Chuluunbaatar.

Mongolia has great potential to reap tangible benefits from the BRI, he said.

"Particularly, Mongolia has integrated its Development Road Initiative with the BRI," he added.

"I am fully confident that the integration will promote the landlocked Mongolia's development in various sectors such as infrastructure and economy," he said.

Regarding the BRI, China calls for win-win cooperation, mutual benefit and an alignment with the local development strategy in its implementation.

Chuluunbaatar said it is the right choice for Mongolia to accept an invitation to ride on China's "express train of development" and make more efforts to strengthen bilateral cooperation with China.

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Petro Matad updates Mongolia exploration www.ogj.com

Petro Matad Ltd. said it drilled the Snow Leopard exploration well to 2,930 m MD in the Valley of the Lakes basin complex of central Mongolia. The well reached granitic basement on Block V. The Snow Leopard well now will be plugged and abandoned pending evaluation.

No sands were encountered at the shallower of two primary targets although drillers observed gases and an oil sheen in the drilling mud across the interval.

The gases are believed to indicate an active petroleum system in the basin. The oil is suspected to have entered the well from a prospect bounding fault that might be acting as a conduit for migrating oil.

No oil or gas shows were observed in the well’s deeper objective.

Petro Matad focuses on oil exploration in Mongolia. Its assets involve production-sharing contracts over the following exploration blocks:

• Matad Block XX with an area of 10,340 sq km in the far-eastern part of Mongolia near the Chinese border.

• Bogd Block IV and Ongi Block V, adjacent to each other in west central Mongolia, covering about 50,000 sq km.

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Rio Tinto’s exit from coal pays off, to return $3.2B from sales proceeds to shareholders www.mining.com

Shares in Rio Tinto (ASX, LON: RIO) jumped about 3% in both Sydney and London after the world’s No.2 mining company said it would return $3.2 billion to investors through a share buyback primarily focussed on its Australian-listed ones.

The fresh round of returns, which will be funded with the proceeds from the company’s sale of its last remaining Australian coal assets, follows Rio’s previous promise to return up to $7 billion to shareholders through dividends and share buybacks.

Rio said it would conduct an off-market share buyback for up to 41.2 million of its Australian-listed shares, worth about $1.9 billion.
Not surprisingly, investors welcomed the news, with shares closing Thursday 3.58% higher in Sydney to A$78.10, while they were up 2.81% in London to 3,827p by 1:38 p.m. local time.

Rio said it would conduct an off-market share buyback for up to 41.2 million of its Australian-listed shares, worth about A$2.7 billion ($1.9B), as well as on-market purchases of its London-listed stock.

Previous buybacks have favoured the London arm of the Anglo-Australian miner and further returns to shareholders may be just around the corner as Rio has yet to complete its $500 million sale of the Aluminum Dunkerque smelter in France.

“Returning $3.2 billion of coal disposal proceeds demonstrates our commitment to capital discipline and providing sector-leading shareholder returns,” Rio Tinto Chief Executive Jean-Sébastien Jacques said in the statement.

Top Pick
Since Jacques took the helm in July 2016, Rio has focused on cutting costs, generating cash and returning as much of it as possible to investors through dividends and share buybacks.

BMO Capital Markets praised Rio’s move in a note Thursday calling the company its “top pick” among the diversified majors .

It also note that while Rio’s buybacks amounted to a shareholder return well ahead of its peers, the miner would eventually have to find other options to drive value, including possible acquisitions.

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Opening ceremony of Sainshand Salkhin Park held www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolia set as target to reach 20 percent of renewables installed capacity by year 2020. In this context, the third and biggest wind park, Sainshand Salkhin Park LLC, celebrated the finalization of the construction phase on September 17, 2018 with the opening ceremony at the Sainshand site located in the Dornogobi aimag.

The construction project has registered 700,000 man hours without lost time incident since financial closing in August, 2017 and has been finalized 2 months ahead of schedule. The height of the construction mobilized around 400 workers, of which more than 95 percent Mongolians.

The celebration of the 55 MW Sainshand wind farm was attended by representatives of the Mongolian government, parliament members, organizations of energy sector, local government representatives, German Ambassador, representatives of the French Embassy, lenders, investors and other major stakeholders of the project.

The wind park and other ongoing energy developments will enable the Dornogobi aimag (province) to supply cities like Sainshand and Zamiin–Uud with renewable energy. Furthermore, the installed energy generation capacity also enables to export the sustainable energy to the South–Gobi grid.

Sainshand Salkhin Park will supply more than 100,000 households with energy and contribute to a greener economy with a potential reduction of more than 200 thousand tons of CO2 emissions per year.

The wind park project was initiated by Mr. Davaanyam and developed by the German Ferrostaal GmbH with world leading french energy company Engie. The total investment of 120 million USD is financed by lenders European Investment Bank, European Bank of Reconstruction and Development & EKF from Denmark together with the equity investors and developers including the Danish Climat Investment Fund.
source: Sainshand Salkhin Park LLC

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Alibaba’s Ma says Trump’s trade war ‘destroyed’ his promise to create jobs for 1mn Americans www.rt.com

Alibaba’s executive chairman Jack Ma has said that his promise to Donald Trump to create one million jobs in the US is no longer valid and viable after Washington slapped Beijing with new round of tariffs on $200bn worth of goods.
When Jack Ma met president Trump in January 2017, he laid out a five-year vision which would create one million jobs in the United States. Instead of building factories, or establishing Alibaba operation centers in the US, the Chinese billionaire expressed hope that small American businesses can sell goods to consumers in China thereby creating more domestic jobs in the US. Just over eighteen months down the line, Trump and his protectionist trade practices seem to have ruined these prospects for small businesses, such as farmers and small clothing makers, who could have tapped the Chinese market.

“This commitment is based on friendly China-US cooperation and the rational and objective premise of bilateral trade,” Ma said Wednesday. “The current situation has already destroyed the original premise. There is no way to deliver the promise.”

While promising to “promote the healthy development” of Sino-US trade, the 54-year-old entrepreneur noted that the “previous basis for trade has been undermined,” amid ongoing trade conflict between the world’s two largest economies.

“Trade is not a weapon and cannot be used for wars,” he added, in an exclusive interview with Xinhua news agency. “Trade should be the propeller of peace.”

Instead of helping American small businesses reach Chinese consumers, one of the richest men in China said Alibaba will seek business opportunities elsewhere, mainly in Russia, Europe, South America, and Africa.

Ma, who recently announced his departure as the chairman of the Chinese retail giant next year, slammed Trump’s policies just two days after Washington announced a 10 percent tariff on another $200 billion worth of Chinese goods. Beijing hit back on Tuesday with levies on $60 billion of US products.

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Legal dispute over EMC ownership comes to an end www.zgm.mn

(MCC) won over the Government of Mongolia at the Supreme Court for the second time yesterday. Thus, the property dispute over Erdenet Mining Corporation (EMC) between MCC and the Government that dragged on for two years finally came to an end. Earlier this year, the Cabinet decided to forcefully nationalize the 49 percent stake of EMC owned by MCC with its 7th resolution, which was followed by massive public backlash because the Supreme Court ruled against the Government on December 7, 2017. Therefore, the Government’s act has been confirmed unacceptable by several courts and the EMC board, which is fully formed by Cabinet members, was suspended. During the yesterday’s ruling, the Supreme Court revoked the Government’s 7th resolution on nationalizing EMC, resinstating the 49 percent stake of MCC. “With the Supreme Court's second ruling, the EMC will now be able to operate normally. We will now demand the Government to fulfill the court's decision and immediately hold the board meeting to address the facing issue as EMC is currently suspended by the international arbitration over a case involving the Government's share of 51 percent stake,” remarked Purevtuvshin Tsooj, CEO of MCC.

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Erdenes Tavan Tolgoi revenue surges due to higher coal prices www.news.mn

Mongolia’s coal sector will see robust production growth over the coming years said Fitch Solution. The growth will be driven by rising prices, a solid project pipeline and competitive operating costs. They forecasted Mongolia’s production to increase to 107 million tonnes by 2027 from a mere 30 million tonnes in 2018. Growth in Mongolia’s coal sector will be largely driven by coking coal projects as the country boasts high quality reserves of the steel-making ingredient. As an example, in H118, revenues of the state-owned Erdenes Tavan Tolgoi (ETT) surged due to higher coal prices and a big jump in coal exports, raising prospects for a planned initial public offering (IPO). The project exported 6.9 million tonnes of coal in H118, up 28% compared to H117, while net profits increased 31% y-o-y to reach USD152 million. The government plans to list 30% of ETT through a combined domestic and overseas offering, the proposal of which is now under debate in parliament. If the Parliament approves the bill by the end of September 2018, the preparatory works of the IPO are set to be completed within 180 days.

Along with the overseas IPO of ETT, the government is also aiming to attract more foreign investment into the coal sector, according to the Mongolian Minister of Mining and Heavy Industry, Dolgorsuren Sumiyabaza, during the 8th Coal Mongolia International Conference. To this effect the government is looking to introduce more advanced technology to coal mining operations in order to improve the competitiveness of Mongolian coal exports. (Fitch Solution)

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Russia and Mongolian Border Crossing No. 487 www.news.mn

There are currently 10 operational border crossings between Mongolia and Russia: five open only to Mongol and Russian nationals, three open to all, one open to freight, and one to passenger trains.

The current Northern Mongolian border was established in 1911, but at that time, Mongolia shared it with two countries, the Tuvan Republic and the Soviet Union. Now, it is shared only with Russia, after the Soviet Union annexed the Tuvan Republic in 1944. The Tuvan section of the Mongolia/Russia border has always been problematic due to cattle thefts across the border and a thriving smuggling trade, subsequently Border Crossing No. 487 was considered particularly challenging.

Border Crossing No. 487 is set deep inside thousands of hectares of Siberian forest, both on the Mongolian and Russian side. On the Mongolian side, very few hamlets can be found across this desolate landscape, and the infrastructure is extremely poor. What is more, winter brings abundant snowfall and subarctic temperatures (reaching -55 degrees F), making these places reachable only by horses and the sturdiest 4×4 vehicles.

Since its closure, Border Crossing No. 487 has become a destination for a trickle of local tourists. The two posts delimitating the Mongol and Russian territories are set about 10 feet apart, and a white stump of a post was placed in the middle to demarcate the exact border point. It is a simple sight, but in historical and geographical terms, it is a truly remarkable place. (atlasobscura)

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World Economics reports that Mongolia’s employment rate hits a five-year high www.gogo.mn

World Economics reported that the sales managers’ index for Mongolia stood at 58.3 points in September, as it was in August.

To determine the sales managers’ index, World Economics takes into account five main factors: the employment rate, business confidence index, market growth, sales, and price changes.

According to World Economics analysts, Mongolia's employment rate was at 61.7 percent in September – its highest rate over the last five years. Price changes have consistently scored more than 50 points since April, indicating that inflation has been rising.

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