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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Government reserve wheat seeds to be sold www.montsame.mn

Ulaanbaatar /MONTSAME/ During its regular meeting on April 26, Wednesday, the Cabinet addressed crop production sector. This year, 1350 entities and land farmers from 13 aimags will cultivate 381.6 thousand ha area for crop production including 362.1 thousand ha area for wheat.

54.3 thousand tons of wheat seed is required for this year’s spring sowing on the national level, and 4.1 thousand tons of seed is needed to fill the demand. The Cabinet addressed this issue, and resolved to sell 5800 tons of elite wheat seeds stored in government reserve.

The elite wheat seeds will cost land farmers MNT 880,000 per ton, reproduced seeds MNT 830,000 and simple seeds MNT 480,000-560,000 per ton. Entities and land farmers need to make 40 percent advance payment, and purchase the seeds.
Kh.Aminaa

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South Korea-Mongolia consular affairs consultative meeting takes place www.theubpost.mn

 
The ninth consultative meeting of the foreign affairs ministries of Mongolia and South Korea was held on April 24, in Ulaanbaatar, to discuss consular affairs cooperation between the two countries. The meeting’s delegations were led by Director of the Consular Department of the Mongolian Ministry of Foreign Affairs Ya.Ariunbold and Ambassador for Overseas Koreans and Consular Affairs Han Dong-man.
 
Representatives from the Mongolian Ministry of Justice and Internal Affairs, Ministry of Labor and Social Protection, General Prosecutor’s Office, Mongolian Immigration Agency, National Policy Agency of Mongolia, General Authority for Border Protection and Medical and Social Insurance General Office participated in the meeting.
 
During the meeting, the sides discussed developing consular affairs cooperation between the two countries, increasing the number of Mongolian citizens living in South Korea under labor contracts, and challenges facing Mongolian citizens living in South Korea. The two sides agreed to take measures to deal with some of challenges facing Mongolians legally residing in South Korea. The sides also discussed expanding the terms of multiple entry visas to streamline the visa process for Mongolian applicants. This could be achieved by increasing the number of Mongolian citizens legally residing in the Republic of Korea and reducing the number of illegal residents.
 
The South Korean delegation asked their Mongolian counterparts to issue visas to South Korean investors that are valid for one to three years, and to eliminate employment fees for South Korean citizens living in Mongolia who are employed by non-governmental organiza
tions.
 
During Ambassador Han’s meeting with State Secretary of the Mongolian Ministry of Foreign Affairs D.Davaasuren, the state officials emphasized that creating a specific mechanism for developing consular cooperation, protecting people’s rights, and carrying out visa facilities are important. They agreed that consultative meetings should take place regularly, and that enhancing the legal and regulatory environment for dealing with the challenges facing the two nations’ citizens is critical.
 
D.Davaasuren noted that there are 36,000 Mongolian citizens working and studying in South Korea, and that the Government of Mongolia should focus on supporting its citizens there. The sides also exchanged views on security challenges on the Korean Peninsula and other regional issues.
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Ebook sales drop as readers favour non-fiction books www.bbc.com

 
Sales of ebooks dropped 3% to £538m last year, according to the Publishers Association trade body.
But total book sales including physical books rose 6% to £3.5bn, according to the data, led by non-fiction gains.
Readers flocked to fitness and self-help books, sending non-fiction sales up 9%, while fiction revenue fell 7%.
Exports rose 6% to £2.6bn, benefiting from a decline in the value of sterling, but also rising in line with domestic growth.
The gain reversed three previous years of export decline.
In 2015, adult colouring books and the 150th anniversary of Alice in Wonderland helped the swell in physical book sales, while ebook sales fell 1.6%.
This time, books on the Danish concept of hygge, which is usually translated into English as "cosiness", assisted factual sales, as well as fitness books by personal trainer Joe Wicks.
While ebook sales took a hit, digital distribution helped other media.
Journals made a 10% gain last year to £1.2bn, led by a jump in electronic subscriptions, making the market for books and journals worth £4.8bn.
"Last year, one of the most eye-catching figures from our statistics was that physical book sales were increasing while digital book sales dropped," said chief executive Stephen Lotinga.
"While many will debate as to whether this trend will continue, we should not ignore the fact that digital sales beyond the domestic ebook market are growing."
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Second compact to address water issues in Ulaanbaatar www.montsame.mn

Ulaanbaatar /MONTSAME/ During its regular meeting on April 26, Wednesday, the Cabinet discussed and approved an agreement on the implementation of the nonrefundable aid for the formulation of Millennium Challenge Corporation compact proposal. Minister of Foreign Affairs Ts.Munkh-Orgil was authorized to sign the agreement.

With establishment of the agreement within this month, it will be possible to launch the technical and economic feasibility study on the projects of the compact by this June. The Mongolian government plans to propose the final report of the feasibility study by November this year and sign the compact within the first quarter of next year.

The agreement comprises 7 articles and 4 annexes, reflecting the responsibilities of the sides in formulating and ensuring the initial preparation of the compact, financing measures, tax exemption and other conditions.

In the frameworks of the Millennium Challenge Corporation activities, measures on increasing Ulaanbaatar water supply with underground sources, reusing recycled water for industrial purposes, bringing about policy and institutional reformation in water sector and improving the legal environment will be forwarded.

In addition to the compact funds, the Millennium Challenge Corporation will also provide USD 10 million and 500 thousand fund to cover the compact pre-implementation costs.

Kh.Aminaa

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Canada threatens to play hardball with Trump over lumber tariffs www.rt.com

 
Trade relations will not be easy-going after the US imposed 20 percent tariffs on Canadian lumber, warned Canadian Foreign Minister Chrystia Freeland.
 
"When it comes to defending Canada's economic interests, we're going to play hard," Freeland told CNN on Tuesday.
 
"We're nice guys: Politeness is something we believe is a national virtue, but it's not an accident that hockey is our national sport," she said.
 
US President Donald Trump told reporters that given America has the trade deficit [over $500 billion], he is not afraid of any trade war.
 
On Monday, the US Department of Commerce announced the Trump administration would impose a 20 percent tariff on Canadian softwood lumber, including specific tariffs for five Canadian lumber firms that range from three to 24 percent.
 
Secretary of Commerce Wilbur Ross told reporters Canada wasn't being a "good neighbor," accusing the country of “dumping lumber” on the US market.
 
The US lumber industry has argued for decades that because most Canadian timber is harvested on Crown lands, and the way provincial governments manage and set prices results in cheaper lumber.
 
An investigation by the Commerce Department has concluded that Canadian authorities subsidize timber companies to help them sell to the US at lower prices.
 
LamarqueTrump signs 'Buy American, Hire American' order
In the past, US Presidents George W. Bush and Barack Obama also imposed temporary tariffs on Canadian lumber.
 
The decision by the Trump administration came after failed talks to cut Canadian tariffs on US dairy products, which are 270 percent. This helps Canada to increase domestic prices and keep American and other countries’ produce out of the country.
 
However, when Canada' s supply management was introduced in the late 1960’s, it had 140,000 dairy farms. Now it has fewer than 12,000, but Canadian authorities are still voting to support the protectionist measure.
 
"Canada has made business for our dairy farmers in Wisconsin and other border states very difficult. We will not stand for this. Watch!" Trump tweeted Tuesday morning before the announcement.
 
The United States, Canada, and Mexico are expected to start renegotiating the North American Free Trade Agreement (NAFTA), which was signed in 1992 and defines trade between the countries.
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China crushes South Korea tourism over US missile presence www.rt.com

 
South Korean tourism has been severely hit by a Chinese boycott over the deployment of a controversial US-backed anti-missile system approved by Seoul.
In March, South Korea saw a 40 percent drop in Chinese visitors, according to the Korea Tourism Organization (KTO). Total visitor numbers last month fell more than 11 percent to 1.23 million year-on-year.
 
Bookings for stays by Chinese travelers are down 28 percent in the second quarter of the current year against a year earlier, according to the outlook by ForwardKeys, a provider of travel industry data.
 
The plunge in Chinese tourism comes after South Korea agreed to install a US Terminal High Altitude Area Defense (THAAD) system earlier this year.
 
Seoul insists THAAD is a deterrent to possible missile attacks from North Korea. However, Beijing repeatedly expressed concerns over the system, as its powerful radar may penetrate into Chinese territory.
 
The Chinese government reportedly banned tourist agencies from selling tours to South Korea following the move.
 
Chinese tourists, who are seen as deep-pocketed spenders, accounted for 8 million of the nearly 17 million people that visited South Korea last year.
 
“There's been a big reduction in the number of groups of Chinese tourists in Seoul since the THAAD missile crisis,” said Kil Ki-yon, director of Seoul Tiger Bus, a company that takes Chinese visitors on tours of the city, as quoted by CNN News.
 
South Korea could stand to lose $9.63 billion in tourism revenue, according to estimations.
 
The decline in visitors from China has also hit duty-free shops in South Korea, as the Chinese accounted for about 70 percent of their total sales, according a spokesman from Lotte Duty Free. Sales to Chinese customers have already dropped 40 percent year-on-year since mid-March.
 
South Korea has tried to attract more visitors from Japan and Southeast Asia to make up for the losses. However, growing regional tensions over North Korea have diminished a slight rise in the number of Japanese visitors.
 
“Japanese tourists are putting off their trips to this country, apparently because of overblown Japanese media reports about tensions on the Korean peninsula,” said a KTO official quoted by Yonhap news agency.
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Preliminary balance of payments for March, 2017 www.montsame.mn

Ulaanbaatar /MONTSAME/ Current and capital account balance totaled to USD 38.4 million surplus, which is USD 83.8 million increase compared to the same period last year. The change was mainly due to increase by 32 percent or USD 30.4 million in goods and services account, and decrease by 31 percent or USD 63.8 million in primary income account.

Financial account had a surplus of USD 173.1 million in the first 3 months. Last year, Mongolia had a net borrowing of USD 202.2 million from the rest of the world, whereas this year it totaled to USD 173.1 million outflow. Thus, the net external financing had decreased by USD 375.3 million. As of the first 3 months of 2017, overall balance of payments deficit was USD 165.7 million.

B.Oyundelger
Source: www.mongolbank.mn

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UEA five hightailing to Mongolia for Mind www.concrete-online.co.uk

 
Some would say packing a suitcase and hopping on a plane is the conventional way to travel over 8,000 miles, but not for the five UEA students who will be hightailing it from Norwich to Mongolia in two cars (one they call “Mildred”) and a motorbike.
 
What started off as a conversation of ‘what ifs’ for Will Vickers, Luke Phillips, Luke Dexter, Josh Melling and Edd Nabbs will lead them on an adventure to raise money for charity.
 
On June 11th this year, the students will start to make their way through Europe, down the Dalmatian Coast, north Turkey, into Georgia then Azerbaijan, across the Caspian Sea, into Kazakhstan and finally arriving at Mongolia.
 
They have based their journey on the internationally recognised Mongol Rally, developed by ‘The Adventurists’.
 
The fact that even they have described their journey as “crazy” on their website is a bit of a punchline, as these five men have chosen to support the UK mental health charity Mind, and will be donating 100 percent of their proceeds to the cause.
 
They told Concrete: “Firstly we feel that anything we can contribute will actually go towards services that can help someone in need, whereas in larger charities what happens with donated money is not always as transparent.”
 
When asked why they chose Mind, they explained: “Mental health is a huge issue on the agenda, especially for students. We thought, let’s raise some money for a great charity, and open up the conversation about mental health, especially among young men, where that conversation is quite often ignored.”
 
Team Norwich 2 Mongolia (N2M) said, “‘UEA’s outlook on mental health is all over the place.”
 
They added: “There is not enough funding for mental health services at university so a lot of people miss out…Norwich Nightline could be so much better…students often end up relying on external services.”
 
As June approaches, Team N2M are asking people to donate in any form, be that sponsorship, gifts, merchandise and services. They are also offering incentives for donations. Donating £10 will get the sponsor “forever emblazoned into our legendary journey”, with their name inked onto one of the cars, and £30 allows them to suggest challenges or punishments for the five guys to make, to keep their trip as interactive with UEA students as possible.
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Climate-stressed Mongolia urged to put yaks before mines www.indianexpress.com

 
Mongolia should diversify its economy in the face of climate change and other stresses, as reliance on mining at the expense of its livestock industry has put people at risk of commodity price shocks and rising unemployment, an international aid group said. Ramesh Singh, Mongolia director for Mercy Corps, said strengthening rural livestock markets and establishing centres of economic activity outside the over-stretched capital would enrich the nation’s coffers, provide work for young people, and boost the country’s resilience.
Mongolia has struggled with an economic crisis since 2016 due to government over-spending and declining revenues from its exports, which include copper and coal. “We have reached a tipping point,” said Singh, whose U.S.-based organisation has worked in Mongolia since 1999. Youth unemployment, climate change and heavy urbanisation in the capital city of Ulaanbaatar are key issues that must be tackled, he added. A Mercy Corps report issued last week said the mining sector employs only 3.6 percent of Mongolia’s total workforce.
“There’s a realisation among government and development partners that it was a big mistake to focus solely on a single sector,” said Singh, noting how a 17 percent growth rate in 2012 has nosedived to a projected 1.4 percent in 2017. Meanwhile, around 30 percent of Mongolia’s 3 million people live off herding horses, goats, sheep, camels, yaks and other cattle, according to the World Bank, and meat is the primary source of food for the population.
Those unable to make ends meet in rural areas – especially young people working in low-paid animal husbandry or unpaid family jobs – usually move to the capital. There, many end up living in “ger districts”, makeshift neighbourhoods named after Mongolia’s traditional yurt dwellings, where pollution, poverty and domestic violence are rife, aid agencies say.
MEAT MARKET
In February, the Red Cross appealed for $654,000 to support thousands of Mongolian herder families suffering from a second consecutive “dzud” in which a summer drought is followed by harsh winter conditions, leading to widespread livestock deaths. Climate change could lead to more erratic rainfall and increase the frequency of droughts and dzuds, said the Mercy Corps report. But Singh said a profitable, modern herding system attractive to young people could be developed.
“There is a huge market potential from China and Russia which are ready to buy meat from Mongolia. There’s an opportunity to develop another export market here,” he told the Thomson Reuters Foundation by phone. Mercy Corps is supporting a law to protect grazing land, and hopes to join planned efforts to map how many animals the country’s pastures can support.
Its report also recommends educating herders to keep fewer, better-quality livestock, as well as developing financing to protect herders from climate threats, including insurance. The world’s first index-based livestock insurance was launched in Mongolia in 2005 but take-up has been slow due to a lack of awareness and affordability.
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Erdenes Mongol says it will complete the Erdenes TT shareholder registry www.theubpost.mn

Deputy Director of Erdenes Mongol G.Ganbold reported that thecompany will be working in cooperation with Erdenes Tavan Tolgoi and the Ministry of Finance to resolve concerns about citizen held shares in Erdenes TT, and promised that measures would be taken to address the registration of all company shareholders. The statement by the Deputy Director was made during the “Privatization in Mongolia: Opportunities and Lessons from Past Mistakes” session of the Investor Nation forum. MPs L.Enkh- Amgalan and Ch.Khurelbaatar, as well as economist R.Amarjargal and attorney L.Naranbaatar also participated in the discussion about the 1,072 shares of the company issued to each Mongolian citizen.

Former Prime Minister Su.Batbold’s administration provided each Mongolian citizen with 1,072 shares in Erdenes Tavan Tolgoi. The decision has become a hot button issue in political spheres and among the general public since its inception.

Erdenes Mongol is responsible for managing the Mongolian government’s shares in the nation’s mining assets, including Oyu Tolgoi LLC, Erdenes Tavan Tolgoi JSC, Baganuur JSC, and Shivee Ovoo JSC. As a result, Erdenes Mongol could act as a key catalyst in improving the shareholder rights of citizens.

G.Ganbold promised that a significant measure to resolve the issues surrounding the citizen held shares will be taken within the next three months.

“By completing the registration of Erdenes TT shareholders, every shareholder will be able to receive company dividends starting in 2018,” stated G.Ganbold.

In light of recent news that Erdenes TT has paid off its debt to the Aluminum Corporation of China Limited (CHALCO), there have been talks of a potential IPO offering. The Deputy Director addressed this by saying that the first priority of the company is to complete its shareholder registration and to repay its remaining debt.

“We might start preparation for an IPO beginning in 2018. Of course, in order to have an IPO, we need to fulfill certain financial and operational requirements,” said G.Ganbold.

The Deputy Director also mentioned that Erdenes TT still has a long way to go before fulfilling the requirements put forth by the major stock exchanges around the world, and said that an IPO would certainly take some time to prepare.

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