Anglo Asian soars after boosting reserves at Ugur gold project www.mining.com

Shares in Azerbaijan's top gold producer Anglo Asian Mining (LON:AAZ) soared Monday after the company boosted resource estimates at its Ugur gold deposit and said the project, located by its flagship Gedabeck mine, was on track to begin production next month.

Trump moves to crack down on China trade practices www.cnn.com

President Trump is getting tough on trade with China.
Trump signed a memorandum Monday that directs U.S. Trade Representative Robert Lighthizer to determine whether an investigation is needed into alleged unfair Chinese trade practices. Shortly after Trump signed the directive, Lighthizer said his office will launch a probe and, "if needed, take action to preserve the future of U.S. industry."
The move represents the first step in a process that could allow Trump to impose tariffs on Chinese imports or other punishing trade actions.
"This is just the beginning," Trump said at the White House Monday. "We will defend our workers."

It's Trump's latest warning to China on trade, and it comes the same week that administration officials begin to renegotiate NAFTA, the free trade deal between the U.S., Mexico and Canada.
The new order focuses specifically on alleged Chinese theft of U.S. intellectual property, a complaint expressed by a wide array of U.S. corporations that do business in China.
China is accused of trying to take a short cut by spying, hacking or forcing companies to hand over their intellectual property, such as a patent on a software product.
Chinese laws require foreign firms in some industries, such as energy and autos, to form joint ventures with local partners, which often results in the transfer of technology to Chinese companies.

In a report published this year, the Commission on the Theft of American Intellectual Property named China as the main offender, estimating it costs the U.S. economy up to $600 billion a year.
Trump's memorandum comes as his administration also seeks cooperation with Chinese President Xi Jinping on North Korea's ongoing missile threats.
Some experts say the wording of the memorandum is watered down, reflecting how high a priority North Korea is for the administration. Trump's order did not direct Lighthizer to open an investigation. It directed Lighthizer to determine if an investigation is needed.
"For an administration that portrays itself as tough on trade, it keeps taking one baby step after another, and this is another one," says Edward Alden, a senior fellow at the Council on Foreign Relations.
The softened language in Monday's order is the second time in as many weeks that Trump has agreed to changes to ease the potential backlash from China. Last week, the administration delayed the trade move in favor of securing China's support for a United Nations resolution imposing new sanctions on North Korea.

The final version of the memorandum reflected a desire to put some more distance between Trump and a potential investigation of Chinese trade practices, according to a senior administration official.
The Chinese Commerce Ministry on Tuesday warned that "any actions of trade protectionism from the U.S. side would be harmful to the bilateral trade and business relationship and the interests of companies on both sides."
It urged the U.S. to "respect objective facts and be cautious" or risk prompting Beijing to "respond with proper actions to firmly protect China's legitimate rights."
Trump routinely slams China's trade practices, and blames China for the loss of millions of manufacturing jobs. The U.S. had a $347 billion trade deficit with China last year, by far the largest deficit the U.S. has with any country. Trump wants to lower the deficit.
The memorandum was the administration's latest effort to get tough on longstanding Chinese trade abuses, but it also reflected a recognition inside the White House of bureaucratic processes and a complex international situation.

Key Mongolian freshwater source faces fuel contamination www.trtworld.com

Known in Mongolia as the "dark blue pearl," Lake Khuvsgul is Mongolia's deepest and purest source of fresh water. But it is now under threat.

Mongolia Raps US Bans on Iran, Russia, N. Korea www.ifpnews.com

A Mongolian official has denounced the recent sanctions imposed by the United States on Iran, Russia and North Korea.
Mongolian president’s special envoy Lundeg Purevsuren has lashed out at Washington’s sanctions on Iran, saying, “Sanctions are not good, and we condemn them.”

China and Mongolia Work To Expand Route Development www.ainonline.com

The Mongolian Civil Aviation Authority (MCAA) signed a memorandum of understanding with the Civil Aviation Administration of China on increasing cross-border air routes during the International Civil Aviation Organization’s August 7 to 11 Conference of Asia-Pacific DGCAs in Ulaanbaatar. Speaking at the conference, Mongolia’s CAA chairman, Byambasuren Luvsansambuu, noted that increasing the number of airways would help lift the traffic burden on an underdeveloped route structure. Chinese carriers now account for 27 percent of all flights through Mongolia.

Climate financing in Mongolia www.montsame.mn

In May, 2017, Mongolian commercial bank “Xacbank” received 500’000 dollars’ grant from Green Climate Fund. It was the first phase of GCF’s 20 million dollar contribution to reduce carbon emission rates in Mongolia. Mongolia’s capital Ulaanbaatar is one of the world's most polluted cities, mainly because of coal-fired power plants, and coal-fueled stoves and boilers which are used to heat homes in this world's coldest national capital. Even though the pollutants in the air is estimated to be 8 times the world standard, Government of Mongolia is too busy dealing with the financial crisis to take actions against it. GCF’s grant could bring major positive changes as it would kick start the biggest climate program with 60 million USD budget. Only 0.07 percent of the national budget goes to the Ministry of Environment and Green Development. Thus, climate projects are in serious need of financing, and that 500’000 USD might have come in just the right time.

Mongolia is known by its vast, beautiful landscapes, wonderful solitudes, and the rich hospitality of nomads. Sadly, the landscape changed drastically due to the sudden increase of mining business. Almost half of the domestic budget comes from coal exports and it doesn’t seem to change in the near future. The biggest attempt to turn into sustainable energy resources are mostly invested by the private sector. Mongolian economy is solely dependent on their export of mining products and income rates shown below illustrates how much Mongolia is in need of an economic support to overcome the challenge.

Corruption
Efficient investment with safe monitoring is crucial when it comes to Mongolia. The reason hardly any foreign investor approaches Mongolia is corruption. To make sure the funding is going to places they intended to, international organizations tends to directly connect with private sectors rather than government officials. Recent events such as partnership with Xacbank proves it as well. But the fact that there are very few corporations big enough to run the financial grant also puts this option at risk. Therefore, careful partnership with the Government with strict monitoring, or funding the private sector to support low-carbon energy sector seems to be two most suitable choices.

Tight provincial budgets 
Despite the fact that all protected landscapes are in the hands of local governments, the state always puts major restraints on provincial budgets. Tight budgets put those local governments in position to issue more mining licenses in order to create their own reserves. They have even started granting mineral exploration licenses after banning it for 5 years due to negative environmental impacts. More mining means more CO2 will be released into the atmosphere, thus, to efficiently finance the climate change mitigation; strong local budgets must be constructed firsthand.

Private sector investment
Mongolia’s first wind farm was built and funded by Newcom LLC and Clean energy LLC, both are private companies. They are currently funding another major sustainable energy project, which is to build the first solar energy plant. Hopefully, other private sectors might take more interest in low-carbon energy sector now that the Xacbank is providing low interest loans. Judging from these facts, it seems that private sectors are pioneering the way towards more climate-friendly Mongolia.

Problems we are facing do not end here. In fact, there are even more problems involving the mining boom Mongolia experienced during the last decade. Mining companies execute land rehabilitation poorly, or not at all; because there is a legal way to make small contribution to local government’s fund rather than constructing rehabilitation. Law makers must reconsider such ways that offer big corporations a way out.

Sustainable energy, responsible mining and strong will to bring positive changes are the things we must do to keep our country as stunning as it has been through the history. Mongolians have worshipped nature for as long as they existed and that love can be the source of motivation to do what is right.
By Tushigjargal Bold

"Mongolia wants to augment trade turnover with Turkey" www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolia-Turkey cooperation, especially in the fields of economy and business are needed to be gone into a new volume, said J.Munkhbat, head of the Cabinet Secretariat for Government, when he met Monday Mr Fatih Ciftci, the Turkey’s Deputy Minister of Customs and Trade. He added Mongolia intends to increase the bilateral trade turnover to USD 250 million.

Tesla set to raise $1.8bn in bond offering www.bbc.com

Tesla expects to raise nearly $1.8bn (£1.4bn) by selling "junk" bonds to private investors - even more than the electric car-maker aimed for when it announced the offering this month.
The firm said the money will keep its balance sheet steady as it ramps up manufacturing of its newest car.
Tesla aims to make 5,000 of its mass market Model 3 a week by the end of this year.
It has estimated it is already spending about $100m a week to hit that target.
On 4 August Tesla said was looking to raise $1.5bn by selling bonds, but said on Friday it now expected to raise $1.77bn from the sale.
The fundraising is limited to major institutions and not private investors.

Japanese Government to fund USD 58 thousand for First Maternity Hospital's renovation project www.montsame.mn

Ulaanbaatar /MONTSAME/ Within the frames of the Government of Japan’s “Grant Assistance for Grassroots and Human Security Projects” (GGP), the signing ceremony of First Maternity Hospital’s renovation project was held on August 11.

Facebook finds a way into China www.cnn.com