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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UB Mayor closes River Tuul quarry www.news.mn

Ulaanbaatar Mayor S.Batbold, has announced that the operation of a quarry next to the River Tuul is to cease. The ban comes into immediate force from today (29th of March). It is considered that the existence of the quarry next to the river, which flows through the heart of the Mongolian capital, contravenes the rights of citizens. A total of eleven companies based along the banks of the River Tuul will be effected by this new law.

In 2016, Mongolian law enforcement officers suspended the operational permits of four companies and imposed fines in excess of MNT 20 million for re-cultivation.

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Cabinet orders free issuance of hay to herders www.montsame.mn

Ulaanbaatar /MONTSAME/ During its regular meeting on March 29, Wednesday, the Cabinet resolved to issue hay and fodder to some aimags; and ordered corresponding Ministers to allocate the required money from Government reserve fund, and see to the implementation of the resolution.

Presently, a considerable amount of snow cover remains on the territory of Mongolia, leading to a difficult spring in 127 soums of 15 aimags.

Therefore, the Cabinet settled that 1110 tons of hay stored in government reserve stations will be issued to herders free of charge in Uvurkhangai and Umnugobi aimags which have recently seen heavy snowfall, and 210 tons of fodder will be handed out with 50 percent discount.

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Erdenet Board to comprise only government officials www.montsame.mn

 

Ulaanbaatar /MONTSAME/ During the Cabinet’s regular meeting on March 29, Wednesday, Prime Minister J.Erdenebat expressed concerns over the lingering process surrounding Erdenet Mining Corporation, an issue on which a working group led by Finance Minister B.Choijilsuren is currently working on.

Last February, Parliament ordered the Cabinet to claim 49 percent ownership of Erdenet Plant, thus transferring the full ownership of the plant to Government of Mongolia.

In the scope of the Parliament’s resolution on Erdenet Mining Corporation, the Prime Minister instructed Head of Cabinet Secretariat J.Munkhbat and Head of Agency for Policy Coordination on State Property Ts.Nyam-Osor to form the Board of the corporation with all government officials in compliance with related laws and regulations, and furthermore ensure increased government representation in the administration of the corporation.

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Gazprom Refuses to Name and Shame Russian Authorities Falling Behind on Bills www.moscowtimes.com

Previous press releases by the company had turned the spotlight on authorities who refused to pay up.

Gazprom's last debt report in 2016 slammed local governments in Russia's North Caucasus, reporting that officials in the region owed more than 48 billion rubles ($845 million) — more than 80 percent of all money owned to the company across Russia as a whole.

This year, the company took a less-confrontational approach, declining to name its main debtors despite a rise in outstanding payments. "Overdue payments remain an urgent problem,” the company said in a press release. “In 2016, it grew by about 6 percent, amounting to 161 billion rubles ($2.84 billion) as of January 1, 2017.”

Some have seen the change as part of a bid to appease Chechen leader Kadyrov after he locked horns with the energy company last month.

Kadyrov, whose government forms a vital part of Russia's North Caucasus region, accused Gazprom of using "worn out" equipment. He said that the company's “bad management” forced the Chechen people to live in “19th century conditions."

“People pay for light, for gas, but the money just doesn't get there,” Kadyrov said.

The Chechen government has long waged a campaign to see local energy assets handed over to Kadyrov's safekeeping.

The Kommersant newspaper reported in February that Russian oil giant Rosneft could sell its assets to the Chechen republic in a multi-billion dollar deal.

The Chechen government also took control of property belonging to Chechenneftekhimprom — the state-owned company that controls the republic's oil-refining and petrochemical industry — in December 2015 after repeated requests to Russian President Vladimir Putin.

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Global stocks & Sterling steady as Brexit begins www.rt.com

World stock markets were trading steady on Wednesday, with the British pound reversing early losses as the UK officially started the two-year process to exit the European Union.
Read more
Britain's permanent representative to the European Union Tim Barrow and EU Council President Donald Tusk © Yves HermanBritain formally triggers Article 50 to leave the EU
After a brief dip during Asian trading hours, the British currency balanced, as a draft EU document made no mention of the possibility the two sides would fail to strike a deal.

Sterling was trading down 0.2 percent against the US dollar at $1.2419 as of 2:00pm GMT. It was up 0.5 percent against the euro.

Since the historic June vote to leave the EU, the British currency has plummeted nearly 20 percent against the US dollar, consistently hitting 30-year lows throughout the period.

"Triggering Article 50 is not a shock like the EU Referendum result. It has been widely signaled by the government that this would happen in March, so it is no great surprise,” said Andrew Sentance, senior economic adviser at PwC and former Bank of England policymaker.

"Most likely, we face another two years of uncertainty before a new relationship between the UK and the EU is properly agreed. During this period we will probably see some bouts of financial volatility affecting the value of the pound and reduced business and financial confidence,” Sentance was cited as saying by the Daily Telegraph.

Britain's blue-chip index the FTSE 100, which is dominated by overseas earners, was up 0.1 percent at 7,337.88. The FTSE 250 index, which is seen as a better gauge of UK businesses, was almost flat at 18, 93184.

US stock futures and European stocks were unchanged, shrugging off any potential uncertainty of the major “risk event.”

S&P 500 futures were little changed at 2,358.57; the pan-European STOXX Europe 600 was up 0.1 percent to 377.81. German DAX and the French CAC were also in positive territory.

Hong Kong’s Hang Seng Index added 0.2 percent, while the Nikkei Stock Average was up 0.1 percent.

Nine months after Britons voted to leave the European Union, Prime Minister Theresa May on Wednesday notified EU Council President Donald Tusk that Britain was quitting the bloc it joined in 1973. She said there was "no turning back" from the decision.

Tusk said it was not a 'happy day' and has warned of 'difficult negotiations' in the months ahead. "We already miss you. Thank you and goodbye," said the EU Council President in his statement to Britain.

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Northern Railways to provide 5 million tpy of freight capacity on Erdenet to Ovoot railway www.worldcoal.com

Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited (ASX: AKM, the Company or Aspire), has, through its rail subsidiary, Northern Railways LLC (Northern Railways), entered into a Memorandum of Understanding (MOU) with MTGT LLC, the 100% owner of the Huren Chuulut Iron Ore Project.

Mongolian metallurgical coal explorer and infrastructure company, Aspire Mining Limited (ASX: AKM, the Company or Aspire), has, through its rail subsidiary, Northern Railways LLC (Northern Railways), entered into a Memorandum of Understanding (MOU) with MTGT LLC, the 100% owner of the Huren Chuulut Iron Ore Project.

Huren Chuulut is a large iron ore deposit located approximately 50 km to the north west of the Khuvsgul capital of Moron and 60 km north of the approved rail alignment for the Erdenet to Ovoot Railway. This Project needs rail to Erdenet to be able to connect to customers in China. Mongolia currently exports iron ore to Chinese customers along the Trans Mongolian Railway.

The MOU covers the sharing of development progress, mutual support in funding activities and the provisional allocation of 5 million tpy of freight capacity as soon as the rail line has been extended to the proposed connection point approximately two thirds along the total 549 km Erdenet to Ovoot Railway. It is expected that the Northern Rail Corridor will see significant demand for its freight capacity of at least 15 million tpy, growing to 30 million tpy in the long term.

Aspire’s Managing Director David Paull said that this MOU demonstrated that the Erdenet to Ovoot Railway will not only benefit Mongolia’s coking coal industry. Once completed, the Northern Rail Corridor, of which the Erdenet to Ovoot Railway is an important part, will see transport of a range of resources, agriculture and manufactured goods”.

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Mongolian business delegates are heading to "Mongolia London Business Forum" next week

MBD business delegates that includes mining supply, real estate management, audit/financing, agriculture and private air services are heading to London for Mongolian British Chamber of Commerce's "6th Mongolia London Business Forum" at LSE, Bloomberg headquarters and Parliament Building and "13th for Mongolia's Development forum" which will be held at EBRD headquarters.

There will be more than 250 investors and business participants at the event.

 
 
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Elon Musk creates Neuralink brain electrode firm www.bbc.com

Tesla chief executive Elon Musk has launched Neuralink, a start-up which aims to develop technology that connects our brains to computers.
A report from the Wall Street Journal, later confirmed in a tweet by Mr Musk, said the company was in its very early stages and registered as a “medical research” firm.
The company will develop so-called “neural lace” technology which would implant tiny electrodes into the brain.
The technique could be used to improve memory or give humans added artificial intelligence.
According to the Journal, leading academics in the field have been signed up to work at the company which is being funded privately by Mr Musk.
Specialists in the field envision a time when humans may be able to upload and download thoughts.
In a tweet on Tuesday evening, Mr Musk confirmed the existence of the company and said more details about the firm would be made public next week via WaitButWhy - a site known for illustrating its lengthy post with often crude but charming stick figure drawings.
Mr Musk is considered one of Silicon Valley’s most visionary figures - and surely now its busiest.
As well as heading electric carmaker Tesla, Mr Musk is involved with running space exploration company Space X, a project to reinvent transport called Hyperloop and, most recently, a firm investigating the feasibility of boring tunnels underneath Los Angeles - and a new project to power Australia.
Tweeting about Neuralink, Mr Musk conceded it would be “difficult to dedicate the time, but existential risk is too high not to”.

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China's Tencent buys 5% stake in Tesla www.bbc.com

Chinese tech giant Tencent has spent $1.78bn (£1.4bn) on buying a 5% stake in electric carmaker Tesla.
Tencent, best known for its WeChat mobile app, has been investing in a number of sectors, including gaming, entertainment, cloud computing and online financing.
Tesla said the stake was passive, meaning Tencent would not get a say in how the US firm was run.
Shares in Tesla rose 2.3% in early trading following the announcement.
Tesla's range of electric cars has included the Model S and the Roadster, which was billed as the world's first electric sports car.
The company also specialises in battery storage, and, through its SolarCity subsidiary, residential solar panels.
The firm has been raising capital ahead of the launch of its mass-market Model 3 sedan, and gained about $1.2bn through a bond and share sale earlier in March.
Tencent, one of Asia's largest technology firms, has backed several electric vehicle companies in the past.
It was an early investor in NextEV, a Shanghai-based start-up which since has rebranded itself as Nio and has offices in San Jose, California, close to Tesla's base.
Tencent is now the fifth-largest shareholder in Tesla behind chief executive Elon Musk and investment companies Fidelity, Baillie Gifford and T Rowe Price.
Mr Musk remains the largest shareholder, with a stake of about 21% as of the end of 2016.

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Rio Tinto may take over Pistol Bay’s uranium assets sooner than expected www.mining.com

Rio Tinto (LON:RIO) may become the sole owner of Pistol Bay Mining’s. (TSX-V: PST) uranium assets in the Athabasca Basin of Saskatchewan, Canada, sooner than originally planned, as it has decided to pay the junior miner $750,000 before April 17.

Rio will effectively hold a 100% stake in the uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2.25 million by the end of 2019.
The move by the world's second largest miner amends a January agreement and means that once it gives Pistol Bay the remaining sum, Rio will own three key assets, located close to Cameco’s McArthur River mine — the world’s largest producing uranium mine.

Pistol Bay said Rio will effectively hold a 100% stake in the C 4, 5 and 6 uranium properties once it pays either $1.5 million by the end of this year; $2 million by Dec. 2018 or $2.25 million by the end of 2019.

In 2014, the Vancouver-based junior optioned the C5 Property, along with the C4 and C6 claims to Rio Tinto, which already has a 75% interest in the assets. Last year, Rio announced its intention to exercise its option to increase its stake in the assets to 100% by paying Pistol Cdn$5 million by December 2019.

So far, the mining giant has drilled 12 holes for a total of 6,104 m on the C5 Property, and completed gravity and DC resistivity surveys.

Meanwhile, Pistol Bay will focus its efforts in advancing its Dixie zinc-copper-gold properties in Ontario, Canada, which it bought in October last year.

The acquisition, combined with the already optioned Dixie and Dixie 3 Properties, made the Canadian junior the dominant landholder in the Confederation Lake Greenstone Belt, a 7,050 hectares-area in the area southeast of Red Lake.

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