1 US-MONGOLIA 'THIRD NEIGHBOR TRADE ACT' ON THE WAY WWW.THEDIPLOMAT.COM PUBLISHED:2018/11/17      2 CHINA'S FIGHT AGAINST SMOG MAKES PALLADIUM 2018'S BEST METAL WWW.MINING.COM PUBLISHED:2018/11/17      3 MILLENNIUM CHALLENGE CORPORATION PRESENTS GMS LICENSES WWW.MONTSAME.MN PUBLISHED:2018/11/17      4 MONGOLIA CALLS FOR GLOBAL ATTENTION ON CLIMATE CHANGE WWW.NEWS.MN PUBLISHED:2018/11/17      5 ADB OPENS A NEW WASTEWATER TREATMENT PLANT IN ARVAIKHEER, MONGOLIA WWW.AGENPARL.EU PUBLISHED:2018/11/17      6 CHINA TO BOOST COOPERATION WITH INDIA, MONGOLIA: DEFENSE MINISTER WWW.GLOBALTIMES.CN PUBLISHED:2018/11/17      7 DEATH ON MONGOLIA’S ‘COAL ROAD’ WWW.NEWS.MN PUBLISHED:2018/11/17      8 MONGOLIA SHAKEN BY WIDENING LOAN SCANDAL WWW.ASIA.NIKKEI.COM PUBLISHED:2018/11/17      9 MONGOLIA’S UNEMPLOYMENT FALLS BY 2.2 PERCENT WWW.NEWS.MN PUBLISHED:2018/11/16      10 MEETING MEAT DEMAND: MONGOLIA TO TRADE 17.9 PERCENT OF LIVESTOCK WWW.NEWS.MN PUBLISHED:2018/11/16      БНСУ-ЫН АЖ АХУЙН НЭГЖҮҮДИЙН АУТСОРСИНГ ЗАХИАЛГЫГ ГҮЙЦЭТГЭХ ЗАЛУУЧУУДЫГ СОНГОН, ШАЛГАРУУЛНА WWW.UNUUDUR.MN НИЙТЭЛСЭН:2018/11/17     НҮҮРСНИЙ ЭКСПОРТ 10 ХУВИАР ӨСӨЖ, 31.3 САЯ ТОНН БОЛОВ WWW.GOGO.MN НИЙТЭЛСЭН:2018/11/17     СУДАЛГААГААР ЖДҮ ЭРХЛЭГЧИД ЗЭЭЛИЙН ХҮҮНИЙ ЗАРДАЛ ХАМГИЙН ИХ ХҮНДРЭЛ УЧРУУЛДАГ ГЭЖ ХАРИУЛЖЭЭ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ERDENE RESOURCE DEVELOPMENT: ХАЙГУУЛЫН ЗАРДАЛ III УЛИРАЛД 42 ХУВИАР БУУРСАН WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/17     ГОРХИ, ТЭРЭЛЖИЙН БАЙГАЛИЙН БОХИРДОЛД АНХААРАЛ ХАНДУУЛЖ ЭХЛЭВ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     ИРЭХ БААСАН ГАРАГТ ХОТЫН ДАРГЫГ ОГЦРУУЛАХ ЭСЭХИЙГ ХЭЛЭЛЦЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2018/11/17     “АМГАЛАН” ХОТХОНД БАЙРЛАХ ГЭРТЭЭ КАННАБИС ТАРЬЖ, УРГУУЛЖ БАЙСАН ТУРК ИРГЭНИЙГ БАРИВЧИЛЖЭЭ WWW.MEDEE.MN НИЙТЭЛСЭН:2018/11/17     ӨНӨӨДӨР АВТОМАШИНЫ ДУГААРЫН ХЯЗГААРЛАЛТ ҮЙЛЧЛЭХГҮЙ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/17     ГАШУУНСУХАЙТЫН НҮҮРСТЭЙ МАШИНЫ ЦУВАА 120 КМ БОЛЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2018/11/16     ТАТВАРЫН ОРЛОГО 32.2 ХУВИАР ӨСӨЖ, ТӨСВИЙН ТЭНЦЭЛ 341.9 ТЭРБУМ ТӨГРӨГИЙН АШИГТАЙ ГАРЛАА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2018/11/16    

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 sees light over 'New Silk Road' www.aljazeera.com

 
The government of landlocked Mongolia is hoping China’s so-called “One Road, One Belt” project - will prove beneficial by expanding its railway system.
 
It builds on the old Silk Road for increased trade and business links.
 
China, Mongolia and Russia are discussing plans that include developing Mongolia’s railways and opening new cross-border rail links.
 
Al Jazeera's Pearly Jacob reports from Ulaanbaatar.
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China to provide CNY 2 billion grant in the next three years www.mongolia.gogo.mn

 
Prime Minister of Mongolia J.Erdenebat paid a courtesy call on President of the People's Republic of China, Xi Jinping today.
At the meeting, two parties expressed their willingness to take Mongolia and China`s strategic partnership to a new level, enriching with actual content.
MONGOLIA AND CHINA TOGETHER NEED TO BENEFIT FROM WORLD DEVELOPMENT
President of the People's Republic of China, Xi Jinping stated: "Since my official visit to Mongolia in 2014, our two countries implemented many works together and achieved clear results. China and Mongolia`s relation must be strengthened in further". He highlighted that China and Mongolia together need to benefit from world development.
Due to Mongolia is standing in the middle of "Belt and Road" initiatives, the country has potential to be fully developed by participating the initiatives. In regards, two countries agreed to integrate "Steppe road" and "Belt and Road" initiatives, considering it as an opportunity to develop and broaden partnership between two countries.
Prime Minister of Mongolia J.Erdenebat noted that relation with China is a priority of our foreign policy and expressed the country`s position on some major projects and programs on trade, economy, development near borders and infrastructure that can be implemented by two countries.
Two parties mentioned that it needs to increase trade turnover between two countries and improve trade structure.
CHINA TO PROVIDE CNY 350 MILLION GRANT TO MONGOLIA
The Chinese side expressed their readiness to support Mongolia on overcoming its temporary economic difficulties. China announced to bring funding ratio of USD one billion grant that issued at the first stage in terms of economic cooperation to 95 percent from 85 percent. Earlier, China agreed to extend the term of the swap agreement that established between the Bank of Mongolia and the People's Bank of China.
This time, China will provide CNY 350 million grant to Mongolia. In addition, China promised to provide CNY 2 billion grant to Mongolia in the next three years.
The Chinese side expressed their readiness to cooperate Mongolia on agricultural sector with a wide range. At first, two countries will focus on improving meat supply and improve the health of livestock. At the same time, both sides agreed to focus on expanding operations of border crossings, increasing the capacity of its entrance and bring international status for some border crossings in near future.
"Cooperating on comprehensive development of mining projects such as Tavantolgoi and construction of railways, power stations, copper concentrator plant based on Oyu Tolgoi mine will be consistent with national development strategies of two countries", said Mr Xi Jinping.
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GEC rejects MPRP Nominee N.Enkhbayar www.montsame.mn

 
Ulaanbaatar /MONTSAME/ On May 14, Sunday, General Election Commission registered the presidential nominees of ruling Mongolian People’s Party and Democratic Party. On the other hand, the commission rejected Mongolian People’s Revolutionary Party’s Chairman, presidential nominee N.Enkhbayar.
 
The commission rejected the documents of former President N.Enkhbayar on the grounds of three faults. The first reason is submission of incomplete documents. Secondly, presidential nominee N.Enkhbayar’s imprisonment sentence ends on August 2. Lastly, Law of Mongolia on Election regulates that a presidential candidate must have resided in the country for the last 5 years preceding the election day, and N.Enkhbayar didn’t reside in Mongolia for 13 months during the last 5 years, specifically from August 13, 2013 to October 9, 2014.
 
As such, MPRP nominee N.Enkhbayar attended the General Election Commission’s meeting on May 14 regarding the presidential candidates to give explanations as some supporters of the party gathered outside the building of General Election Commission to demand the registration of their nominee.
 
In cases of objections to registering a nominee, the election law regulates that the party can either submit the pending documents or propose a different nominee. May 17 is the day General Election Commission publicly announces the names of presidential candidates and May 27 is the day the candidates are presented with their certificates.
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Western Digital seeks arbitration in row over Toshiba's $18 billion chip sale www.reuters.com

 
Western Digital Corp (WDC.O) has sought international arbitration to stop partner Toshiba Corp (6502.T) from selling its chips arm without its consent, potentially derailing a much-needed capital injection for the Japanese conglomerate.
 
California-based Western Digital is a long-standing joint venture partner in Toshiba's main semiconductor plant in Japan. It is bidding for Toshiba chip's business, but is not seen as a front-runner, as its offer has been trumped by Taiwan's Foxconn (2317.TW) and U.S. chipmaker Broadcom (AVGO.O), according to a source familiar with the matter.
 
In the early hours of Monday, Western Digital said it had initiated arbitration procedures with the International Chamber of Commerce International Court of Arbitration, demanding Toshiba reverse a move to put its joint venture assets into a hived out entity - Toshiba Memory - and that it stop an all-out sale without consent from Western Digital unit SanDisk.
 
Toshiba argues that under their joint venture contract, neither party can block a change of control by the other partner. It argues Western Digital itself acquired the joint venture interest when it bought SanDisk, and never sought or received Toshiba's approval.
 
Western Digital, however, claims that Toshiba is breaching their contract.
 
"Toshiba's attempt to spin out its joint venture interests into an affiliate and then sell that affiliate is explicitly prohibited without SanDisk's consent," Western Digital chief executive officer Steve Milligan said in a statement.
 
"Seeking relief through mandatory arbitration was not our first choice in trying to resolve this matter. However, all of our other efforts to achieve a resolution to date have been unsuccessful, and so we believe legal action is now a necessary next step."
 
A Toshiba spokesman had no immediate comment on the legal action.
 
Toshiba, battered by billions of dollars in cost overruns at its now bankrupt U.S. nuclear business, is desperately trying to accelerate the sale of its semiconductor business - the world's second biggest NAND flash memory chip producer.
 
An arbitration process could drag out for months or longer, putting Toshiba's presence on the Tokyo Stock Exchange in jeopardy, as it needs cash from the chip unit sale to bulk up its shareholder equity and stay listed.
 
The dispute could also derail Toshiba's financing plans, as it hopes to offer the stake in its memory chip unit as collateral for new loans from major lenders, a measure that the lenders say also requires Western Digital's approval.
 
Shares in the group, which is expected to publish unaudited full-year results as early as Monday, were up 5 percent in early trade, helped by news that progress towards capping its liabilities in the United States was being be made.
 
The owners of the unfinished Vogtle power plant in Georgia led by Southern Co (SO.N) have to come to a preliminary agreement to cap Toshiba's responsibility for its guarantees on the much-delayed nuclear project at about $3.6 billion, people familiar with the matter said on Sunday.
 
Toshiba values its chip unit at least 2 trillion yen. It believes that a consortium of U.S. private equity firm KKR & Co LP (KKR.N) and Japanese government-backed investors would be the most feasible buyer for the chips business, sources with direct knowledge said last week.
 
The Japanese government has proposed that Western Digital join their consortium as a minority investor, but the U.S. company has said it needs to take control of the unit in order to be fully in charge of operations, separate sources have said.
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China invests $124bn in Belt and Road global trade project www.bbc.com

 
The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks.
China's President Xi Jinping has pledged $124bn (£96bn) for the scheme, known as the Belt and Road initiative.
"Trade is the important engine of economic development," Mr Xi said at a summit of world leaders in Beijing.
The plan, which aims to expand trade links between Asia, Africa, Europe and beyond, was first unveiled in 2013.
Part of the massive funding boost, which is aimed at strengthening China's links with its trading partners, includes 60bn yuan ($9bn; £7bn) in aid to developing countries and international institutions that form part of the Belt and Road project.
Mr Xi used his speech to assure Western diplomats that the plan, described as the new Silk Road, was not simply an attempt to promote Chinese influence globally.
"In advancing the Belt and Road, we will not re-tread the old path of games between foes. Instead we will create a new model of co-operation and mutual benefit," Mr Xi said at the opening of the two-day summit.
"We should build an open platform of co-operation and uphold and grow an open world economy," he added.
Mr Xi said that it was time for the world to promote open development and encourage the building of systems of "fair, reasonable and transparent global trade and investment rules".
"China is willing to share its development experience with all countries. We will not interfere in other countries' internal affairs," he said.
"No matter if they are from Asia and Europe, or Africa or the Americas, they are all co-operative partners in building the Belt and Road."
What is China's new Silk Road?
Mr Xi did not give a timeframe for the distribution of funds pledged for the projects outlined on Sunday.
Leaders from 29 countries are attending the Belt and Road forum, which ends on Monday, including Russian President Vladimir Putin and Turkish President Recep Tayep Erdogan.
Several other European leaders, including the prime ministers of Spain, Italy, Greece and Hungary, are also attending the summit.
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Desperately short of labor, mid-sized Japanese firms plan to buy robots www.reuters.com

 
Desperate to overcome Japan's growing shortage of labor, mid-sized companies are planning to buy robots and other equipment to automate a wide range of tasks, including manufacturing, earthmoving and hotel room service.
 
According to a Bank of Japan survey, companies with share capital of 100 million yen to 1 billion yen plan to boost investment in the fiscal year that started in April by 17.5 percent, the highest level on record.
 
It is unclear how much of that is being spent on automation but companies selling such equipment say their order books are growing and the Japanese government says it sees a larger proportion of investment being dedicated to increasing efficiency. Revenue at many of Japan’s robot makers also rose in the January-March period for the first time in several quarters.
 
"The share of capital expenditure devoted to becoming more efficient is increasing because of the shortage of workers," said Seiichiro Inoue, a director in the industrial policy bureau of the Ministry of Economy, Trade and Industry, or METI.
 
If the investment ambitions are fulfilled it would show there is a silver lining as Japan tries to cope with a shrinking and rapidly aging population. It could help equipment-makers, lift the country's low productivity and boost economic growth.
 
The government predicts investment in labor-saving equipment will rise this fiscal year, Inoue said.
 
The way Japan copes with an aging population will provide critical lessons for other aging societies, including China and South Korea, that will have to grapple with similar challenges in coming years.
 
"More than 90 percent of Japan's companies are small- and medium-sized, but most of these companies are not using robots," said Yasuhiko Hashimoto, who works in Kawasaki Heavy Industries Ltd’s (7012.T) robot division. "We're coming up with a lot of applications and product packages to target these companies."
 
Among those products is a two-armed, 170-centimeter (5-foot-7) tall robot. Kawasaki says it is selling well because it can be adapted to a range of industrial uses by electronics makers, food processors and drug companies.
 
Hitachi Construction Machinery (6305.T) says it is getting a lot of enquiries for its computer-programmed digging machines that use a global positioning system to hew ditches that are accurate to within centimeters and can cut digging time by about half.
 
"We focus on rentals and expect business to pick up in the second half of the fiscal year, which is when most companies tend to order construction equipment for projects," said Yoshi Furuno, a company official. Hitachi Construction declined to provide figures.
 
Mid-sized companies are planning on increasing spending much more than large-caps, which are projecting just a 0.6 percent increase in the fiscal year, according to the Bank of Japan. Smaller companies tend to have less flexibility in overcoming labor shortages by paying workers more or by moving production overseas.
 
WORKING POPULATION PLUNGING
 
Some companies could end up spending less than originally planned. But with demographics only worsening, companies will need to continue to search for solutions to the labor shortage problem. Japan's working-age population peaked in 1995 at 87 million and has been falling ever since. The government expects it to fall to 76 million this year and to 45 million by 2065.
 
In the fiscal year that ended March 31, 2016, mid-sized companies with 100 to 499 workers advertised to fill 1.1 million new positions, the highest in five years and almost five times the number of open positions at companies with 500 workers or more, Labor Ministry data show.
 
Among the robot makers to report stronger revenue in the last quarter was Fanuc Corp (6954.T). Its revenue was 7.9 percent higher than a year earlier, the first increase in seven quarters.
 
Meanwhile, Yaskawa Electric Corp's (6506.T) revenue grew 5.1 percent in January-March from the same period a year ago, the first increase in five quarters.
 
Robots and labor-saving gear aren’t just found in manufacturing and construction. They are also being sought by property developers, food and beverage makers and hotel chains. The Hen na Hotel, or the "Odd Hotel," near Tokyo Disneyland, for example, bills itself as a robot hotel because it uses 140 different robots and artificial intelligence to serve guests in its 100-room hotel and can operate with as few as two to three people, according to the manager Yukio Nagai.
 
Each room contains an egg-shaped robot, or personal assistant, called Tapia, that uses artificial intelligence to recognize people's faces and respond to their voice commands. It can wake you up, manage your schedule, and control other Internet-linked devices like the TV and air conditioning. Other robots can carry bags and take out the trash.
 
"Originally we sold this product for use in the home, but now we are getting a lot of enquiries from companies," said Sayaka Chiba, a director at MJI Co, which makes the Tapia. "Banks, hospitals, and hotels are interested in using Tapia for reception work and communicating with customers.” "Companies say they are interested in Tapia because of labor shortages. Nursing homes are also interested," she said. "We'll continue to sell this for use in the home, but all the interest from companies show that the market has shifted somewhat."
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Mongolia and Georgian FMS exchange congratulatory letters on diplomatic anniversary www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On the occasion of the 25th anniversary of establishment of diplomatic ties between Mongolia and Georgia, Minister of Foreign Affairs of Mongolia Ts.Munkh-Orgil exchanged congratulatory letters with his Georgian counterpart Mikheil Janelidze on May 12.
 
Minister Ts.Munkh-Orgil, while underlining Mongolia-Georgia long-time friendship has endured the test of time and cooperation has been prospering in many sectors, expressed his interests in strengthening ties through expanding collaboration in many fields such as economy, trade, tourism and agriculture and deepening people-to-people relations.
 
Georgian Minister of Foreign Affairs M.Janelidze affirmed willingness for deepening and upgrading bilateral and regional ties, which have been growing strong for the past years, by promoting mutually-beneficial cooperation based on shared values of freedom and democracy.
 
Mongolia and Georgia established diplomatic relations on May 12, 1992.
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Mongolian Mining Corp’s $800 million restructuring deal www.news.mn

Davis Polk & Wardwell has acted for Mongolian Mining Corporation (MMC) in a complex, cross-border bank bond restructuring deal valued at $800 million.

MMC, a coking coal producer listed on the Hong Kong Stock Exchange, also tapped Minter Ellison as its Mongolian counsel, Walkers as its Caymans counsel, and Loyens & Loeff as its Luxembourg counsel.

Ropes & Gray represented the steering committee of bondholders. Meanwhile, Clifford Chance advised the restructuring deal’s lenders – BPP Paribas, Industrial and Commercial Bank of China, and ICBC (London) – as their international and Luxembourg counsel. The lender group also turned to Harneys for matters related to Cayman Islands law and MahoneyLiotta for concerns involving Mongolian law. Mayer Brown JSM acted for new bond trustee.

Scott Bache was the lead partner for the CC team, supported by capital markets partner Alex Lloyd. A separate CC team headed by partner Dauwood Malik represented the existing shared security agent.

This restructuring deal is said to be the biggest by value since the debt plan of Chinese developer Kaisa Group in 2015. (legalbusinessonline)

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Armando Torres: Oyu Tolgoi will lead the copper industry in 10 years now. www.gogo.mn

Newly appointed Chief Executive Officer of Oyu Tolgoi LLC Oyu Tolgoi LLC, Armando Torres held meetings with journalists on Apr 9. 
A Brazilian-born Armando Torres studied chemical and process engineering. He started his career in 1990 as a process engineer and was subsequently promoted to management positions at Alcoa in Latin America, Europe, and Western Australia. Previously, he was working for Rio Tinto Aluminium as a head of operations and Transformation Leader since Mar 2016 to a few weeks ago. 
At the beginning of the meeting, he stated that: "I am really happy for the Board of Directors and shareholders gave their trust and confidence on me to lead Oyu Tolgoi to the next level. 
"The first point that I would like to start is safety. Because the life and health of our employees are the most important value for me. I am pleased to share with you that our operations are running in terms of safety. The underground mine is achieving safety rates that is one of the best in the construction industry. We are performing very well in safety. However, there is a lot of efforts in training and educating the workforce and really with the strong leadership visibility. 
We made a choice to put national content as the first priority. 
In the people respect, we are continuing developing the national content. Because considering the sustainable long-term future as this mine is going to be here for a hundred years. It is fundamentally important to develop the local capability. In operations, we have around more than 96 percent of Mongolians while in the underground development 87 percent of our employees are Mongolian. We have seen a tremendous effort in the underground. Employees of underground development reached 3500 people in a very short period. We made a choice to put national content as the first priority. We require a lot of work in early stages to train and developing people. But as a long-term, we are going to have a feedback because we are going to have a highly capable workforce. 
One of my positive experience of Mongolia is not only the workforce, but everyone that I met in the country is capable and well educated. I think this is a strength that we need to take as our advantage to move us to be leading company in the copper industry.

In terms of cash position, we will have a year that we need to work hard to be positive. Because of the part of our body that operating here now has a low copper and gold grades. But the operational team are working very hard to make us efficient and to have positive cash flow in 2017 and 2018. 
The first ore is expecting to be made in 2020 and we are on track to achieve that date.
In the local community area, the cooperation agreement is working well in terms of all engagements that you have. Several infrastructure projects have been completed or underway in Khanbogd region. We are working as well to move to the next stage of national procurement strategy. 
The underground development is running very well. We are heard of the plan in several fronts. Some fronts we are near to plan and we are committed to delivering underground on time, on budget and on cost. The first ore is expecting to be made in 2020 and we are on track to achieve that date". 
-What is your priority work to complete during your appointment as CEO of Oyu Tolgoi?
-I have had the experience to work with both sides which are mining and processing plant in several different countries. I am not here to lead the technical aspects. I am here to lead the people to succeed. I had experience with several commissioning of large expansions. OT is my fourth experience with major expansion. Commission of a major expansion is very important. First, it requires good design, good engineering, and good construction. But prepared people to operate with a new design with a large business. One of my experience that I have is to develop the people capability. That is one of major contribution that I can do to the business. 
-In the context of current economic difficulties that Mongolia is facing, the key ingredients to fix the problem is foreign investment. It was announced that 4.5 billion dollars will be invested for underground development. How much of this invested so far and how much will be spent in 2017?
-The project is 4.5 billion dollars, plus sustaining capital to sustain our business. We have a plan to spend this year between 800-900 billion dollars with the project. It is going to be around 1 billion dollars per year until 2020 to complete the development of the mine. We have a strong target to promote national content and the national procurement companies. Currently, we are ahead of the target to maximize the national companies to be a big part of the underground development. We have several examples like joint ventures between construction, cement supply and part of the infrastructure that we are doing. Our target is to achieve the schedule on time. Achieving the schedule on time is important due to the funds will come. In 2017, the inflow of money from the project is more than 100 percent than the revenues that OT have. Mongolian banks near 110 percent of the revenues that OT have and this is going to increase as the underground development goes. 
 -Parliament resolution stated that sales revenues of major projects such as OT shall be transmitted through Mongolian banks. In doing so, MP Javkhlan said that 20-30 percent of the revenue wil stay in Mongolia. What is the position of OT on this resolution?
-I am just recent appointed and I can not answer regarding this clause. It is a shareholder issue or Government of Mongolian issue. 
One thing that I can state is last year 66 percent of our revenue inflows to the country. This year it will be increased to 110 percent.

-Does Oyu Tolgoi work with Mongolian banks?
-We are ready to work with Mongolian banks. Currently, we are working with five Mongolian banks. Money flowing here is more than our revenues. As I said 110 percent of our revenues is flowing through the Mongolian banks. The banks that have the ability to borrow money to shareholders will be opened in the future. 
As I said 110 percent of our revenues is flowing through the Mongolian banks. 
We are recognized as the best taxpayer of 2016. We will continue to be one of the largest contributors for Mongolia in terms of the overall contribution. From 2010 up to now, we have contributed 6 billion dollars to the country in taxes, royalties, salaries and procurement. 
This base is going to be increased with the underground. So we are having a difficult economy in years. We separate open-pit to underground development. Because what is going to be important for us to look is the overall contribution of the open pit and underground together. 
-You said you will be focused on developing capabilities of people. What is your current assessment of the capability of Mongolian employees? 
-I am extremely embraced with a foundation that Mongolians have. I think the opportunity is the experience. We are here to bring knowledge and build up experience in short period.
I have studied many manufacturing systems in my life. The one manufacturing system that I liked the most is the Toyota manufacturing system. It is the most comprehensive where you engage people to achieve outstanding results. When I see our employees, I can see that we can be there. I do not have doubt to that we will be leading the copper industry in 10 years now. Thus, we need to work hard for that.
-Thank you.

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Revised law on Offence approved www.montsame.mn

Ulaanbaatar /MONTSAME/ Parliament approved a revised law on Offence during yesterday’s plenary session. The revised law on Offence regulates over 220 types of offences. The law has been revised to improve the current law by re-classifying some types of offences, clarifying, adding and changing some provisions, which were missed, unclear and duplicated.

For example, the offence of affray is separated into two: misbehavior in public place and affray. Offence of misbehavior in public place includes actions like voiding, spitting and throwing cigarette end, while the actions of breaching publicly accepted rules and norms such as disturbing others, brawling, breaching queue, causing harm to others’ property or injure others will be considered as affray.

Acts of growing drug plants, holding drugs and psychotropic substances or providing with premises or storage are considered as a criminal case, however, the conduct of sniffing gas or clay for inebriation will be charged in offence law. Revised law will come into force on July 01, 2017.
B.Ooluun

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