Copper price hits fresh 3-year high as output at world's top producer falls www.mining.com

December copper futures trading on the Comex market in New York made fresh highs on Tuesday after the world's number one producer of the metal reported a sharp drop in production.

APO training course on TQM for SMEs begins www.apo-tokyo.org

The Asian Productivity Organization (APO) is organizing a five-day training-of-trainers course on Total Quality Management (TQM) for SMEs, 4–8 September 2017 in Mongolia. The objective is to develop trainers and practitioners in member countries who are able to guide SMEs in improving management capabilities and productivity through systematic, effective TQM implementation.

Group Photo_Training of Trainers in Total Quality Management for SMEs_ 4-8 September 2017_Mongolia

The course is being held in Ulaanbaatar, supported by the Mongolian Productivity Organization. Twenty-three participants from 15 member countries are attending, including SME owners, quality managers, and consultants and trainers in SME development agencies, NPOs, and similar institutions involved in productivity and quality improvement for SMEs.

The course was inaugurated by APO Alternate Director for Mongolia and Mongolia Research and Training Center Executive Director for Human Development Dr. Sharav Munkhtseren. He reported that during the 25-year transition to a democratic society, the country’s economy had grown by more than 20-fold, reaching per capita GDP of about USD4,000 and developing country status. He also pointed out that the government was taking multiple steps for the development of local industries, including SMEs.

“With over 40,000 SMEs active in Mongolia, accounting for more than 20% of GDP, we have been able to focus more on them and create successful practices,” he said, adding that it was still imperative for the Government of Mongolia to train as many trainers as possible who specialized in strengthening institutions and organizations through productivity and quality management efforts in SMEs.

Dr. Munkhtseren hoped that the participants would benefit from the multicountry APO training course by networking with others, encouraging them to: “Share knowledge and experience, increase your skills, and make a great contribution to the productivity and quality movement.”

SMEs are the backbone of all economies, including APO members. Representing an average of 95% of all businesses and providing more than 50% of employment, SMEs serve as the dominant driving force in accelerating economic growth. However, they face challenges while competing with larger firms, which have more financial muscle allowing quicker adaptations to changing technologies and quality management processes.

The APO course is aimed at creating a better understanding of the impact of the 4th Industrial Revolution on SME management and business performance while training participants in how to implement and integrate TQM with other quality initiatives and standards.

Field visits will supplement the classroom format of the course conducted by three APO-assigned international experts: Aggregator Japan Managing Director and Consultant Yukitoshi Tanno; Malaysia Productivity Corporation Deputy Director General Ab. Rahim Yusoff; and Cosmiqo International Pte. Ltd. Founder and Director Dr. Niak Wu Koh from Singapore.

Invest Mongolia - 2017 conference concludes www.montsame.mn

Ulaanbaatar /MONTSAME/ The 11th annual Invest Mongolia 2017 Conference closed Tuesday the Shangri La Hotel.

Organized by the Frontier Securities, the Conference gathered 1,100 investors and 130 foreign and Mongolian delegates, who delivered 15 presentations and over 30 discussions.

On the second day the conference, the participants held discussions issues of the infrastructure, renewable energy and corporate governance. During the panel discussion concerning the infrastructure development in Mongolia, businessmen noted that there is a need for optimal financing for the public-private partnership (PPP), which is in line with international standards. They highlighted the fact that companies suffered a loss in the public-private partnerships in the infrastructure sector in recent years and the private sector should not be a loser for executing work with their funding.

The panel discussion touched upon issues, such as, what is the most important infrastructure for Mongolia now?; Importance of international standard PPP now at the time when the Government has no budget to finance; Infrastructure projects in the pipeline: UB Utility, Railway and Road expansion. Especially, when, who and how the railway to China should be financed? The extension of the Grid and the heating of the Ger district; and The bottleneck of the transportation by trucks to the Chinese border and the possible solutions to enhance competiveness of the mining industry. 

Participants underlined the importance of sustaining investment and using investment effectively as well as protecting interests of investors within law.

The two day conference also ran Ambassadors' Panel, where ambassadors shared their views on the challenge for Mongolia to reach out to the world, what can foreign countries do to assist Mongolia to increase FDI? and what does IMF program mean for donor countries?

Ambassador of Japan Takaoka Masato: 
- Mongolia successfully made its first free trade agreement with our country. Within the scope of the Mongolia-Japan Economic Partnership Agreement, customs duties will be eliminated or reduced by stages on 5700 types of goods of 97 groups from Mongolian side while on 9300 types of goods in 97 groups from Japan. To implement the agreement The Japan-Mongolia Joint Commission was established and is working with 13 subcommittees set up. However there are works anticipated to be realized at policy-making level. Specifically, Mongolia should establish one-stop-shop for investors. This will allow investors to have integrated information. Credibility of information, I think, will increase confidence of investors. 

Ambassador of the United States Jennifer Zimdahl Galt: 
- Different options should be found out to solve a problem. We support Mongolia for implementing the International Monetary Fund Program. The United States established a Transparency Agreement with Mongolia. I hope this action will progress further. When government has stable and right policy then investment will flow in continuously. In addition, investors should be provided with reliable and accurate information. 

Ambassador of the Republic of Korea Oh Song: 
- 20 years ago, our country involved in the IMF program and it gave positive signals in economy, banking and financial sector. The IMF program in Mongolia means a great opportunity. Mongolia should implement the program properly. 

Most ambassadors highlighted necessity of providing with transparent information, stable policy and favorable investment condition for attracting investment.

Coal claims 40% share in total exports, trade turnover rises 34% www.mongolianminingjournal.com

The National Statistical Office reports that foreign trade turnover at the end of July reached $5.9 billion, showing an YoY increase of 33.9% or $1.5 billion. In the same period, exports increased by 38.5% or $979 million to stand at $3.5 billion, while imports rose by 27.5% or $504 million and reached $2.3 billion. The foreign trade balance grew 67% YoY, and showed a surplus of $1.2 billion.

Russian tank crews taught Mongolian counterparts to eliminate a simulated enemy using the ‘fire carousel’ method in the Gobi Desert flatland www.eng.mil.ru

As a part of the Selenga 2017 Russian-Mongolian exercise, which had started in the Zuunbayan range located in the Gobi Desert (Mongolia), Russian tank crews shared an experience of using modern methods of a maneuver combat. Particularly, Mongolian servicemen were taught how to eliminate a simulated illegal group using the ‘fire roundabout’ method.

Vostochny Port is ready to handle cargo from Mongolia – RF Transport Minister Maxim Sokolov www.portnews.ru

Vostochny Port is among the most prepared platforms for the development of port infrastructure able to handle cargo transiting from Mongolia to the markets of the South-East Asia and APR, RF Transport Minister Maxim Sokolov has said today, 5 September 2017, when visiting Vostochny Port JSC, part of Port Management Company (PMC LLC), says PMC.

Apart from the Minister, Vostochny Port has been also visited by Victor Olersky, Deputy Transport Minister – Head of the Federal Marine and River Transport Agency; Oleg Belozerov, President of Russian Railways; Dangaa Ganbat, Minister of Road and Transport Development of Mongolia; Yondon Manlaibayar, head of Ulan Bator Railway.

The delegation visited the dedicated coal terminal, where Irina Olkhovskaya, First Deputy Director of Port Management Company LLC, paid special attention to the company’s measures focused on minimization of the port’s impact on the environment.

The guests also visited the construction site of the coal terminal’s Phase III, the largest investment project in the port sector of the Far East. The project is financed through private investments without involving the state budget.

RF Transport Minister Maxim Sokolov commented: “The terminal under construction at Vostochny Port has a design capacity of almost 20 mln t. It offers cutting-edge world-class technologies and railway infrastructure allowing for faster accepting/unloading/dispatching of trains. Sound infrastructure being developed here will let considerably improve the logistics of the port approaches. With such projects we ensure competitive advantages of our Far East ports.

Today, the Primorsky Territory and particularly Vostochny Port is among the most prepared platforms for the development of port infrastructure able to handle cargo transiting from Mongolia to the markets of the South-East Asia and APR.

The leaders of Russia and Mongolia will have a dialogue on the sidelines of the Eastern Economic Forum. I think the visit of the President of Mongolia to Russia will result in the nearest future in signing of an agreement on transit between Russia and Mongolia. The scope of transit will depend on agreements between Mongolian and the third countries”.

Phase III of Vostochny Port JSC, the largest investment project in the Far East which also implies the construction of the railway infrastructure at Nakhodka Vostochnaya station, will be presented at the III Eastern Economic Forum (Vladivostok, 6-7 September).

Vgrangel, Primorsky Krai based Vostochny Port JSC is Russia's largest dedicated open access coal port using covered stations for unloading and transfer of coal, conveyor equipment, rotary car dumpers, shiploaders and the second-to-none system of multi-stage magnetic coal separation. The port handles coal mined and exported by Russian coal companies. In 2016 coal throughput at the terminal reached 23.5 million tonnes, a fifth of all coal exports from Russia's seaports and about 30% of coal transshipment in the ports of the Far Eastern basin.

Since the port construction completion 390 million tonnes of coal have been exported through the facility and 6.6 million rail cars have been handled, 28,000 vessels have been received at the port berths. Over the past ten years, JSC Vostochny Port has shipped more than 200 million tonnes of coal, an all-time record among all Russian coal ports.

Vostochny Port JSC is a free access terminal, open to all coal producers. The enterprise's main objective is the increase in coal throughput and the best quality of cargo handling services: ensuring an uninterrupted supply chain and loading the commodity to the most efficient types of vessels for the formation of new supply routes.

Vostochny Port JSC LLC is implementing an ambitious investment project on construction of the coal terminal’s Phase 3 including the construction of the federal railway infrastructure. New terminal facilities will be put into operation in 2017 allowing for port capacity to reach 39 mln t in 2019. The coal will be delivered from Kuzbass and other coal fields of Russia. A sole executive body of Vostochny Port JSC is Port Management Company LLC.

Port Management Company LLC is Russia's major coal port holding that exercises the powers of a single executive body of largest dedicated coal ports based in the Baltic Sea region (Rosterminalugol JSC, Ust-Luga, Leningrad Region) and in the Far East (Vostochny Port JSC, Wrangel Bay, Primorsky Territory).Total coal throughput by the 2016 year-end results of the holding's stevedoring companies reached 41.5 million tonnes, which is more than one third of all seaborne coal exports from Russia. The commodity is exported to more than 30 countries in Europe, the Middle East and the Asia-Pacific region. By 2019, according to PMC' estimates the total annual coal throughput across marine coal terminals will increase to 56.5 million tonnes.

The PMC LLC was founded in 2008. Since then coal volumes handled at Vostochny Port leaped by more than 60%, and in 2016 totaled 23.5 million tonnes. Between 2010 and 2017, the PMC Holding implemented a program of production optimization, handling equipment modernization and upgrade.

In 2016, another stevedoring company JSC Rosterminalugol became member of the PMC Holding. Following the 2016 year-end results coal volumes at Rosterminalugol terminal reached a record high of 18.1 million tonnes.

Dedicated coal ports of the holding, Vostochny Port and Rosterminalugol, are fitted with the cutting-edge equipment for closed transshipment of coal.

A specific feature of the holding’s activities is the search and introduction of the best technologies available to increase coal transshipment and improve environmental safety. The ports boast the world’s best equipment, unique import substitution technologies and self-engineered products.

GCF backs Mongolian forum to open up low-emission, business paths www.greenclimate.fund

XacBank, a Green Climate Fund (GCF) Accredited Entity, is helping Mongolia forge a new sustainable phase in its economic growth by holding the bank’s first green finance forum on Wednesday.

China's ICBC opens office in Mongolia www.news.xinhuanet.com

ULAN BATOR, Sep. 5 (Xinhua) -- Industrial and Commercial Bank of China (ICBC) opened its Mongolia representative office in Ulan Bator on Tuesday.

The opening ceremony was attended by Choijilsuren B., minister of finance of Mongolia, Chinese Ambassador to Mongolia Xing Haiming and President of ICBC Gu Shu.
At the ceremony, Gu said Mongolia is an important country along the Belt and Road Initiative.
He noted that China and Mongolia signed cooperation agreements under the initiative in May, which would bring huge opportunities for the two countries' cooperation in industrial capacity and finance.
Gu also said that ICBC always attaches great importance to the Mongolian market, adding that with ICBC's internationalized service network and diversified business lines, its Mongolia office will proactively devote itself to market research and project organization, and strive to become a bridge for China-Mongolia economic and trade exchange.
In recent years, China and Mongolia have witnessed rapid development in political mutual trust, economic and trade cooperation and people-to-people exchanges. China has remained Mongolia's largest trading partner and a major investor in the country for several years. In 2014, the two established a comprehensive strategic partnership, a more advanced form of bilateral relationship China holds with another country.
Over the past years, ICBC has taken the initiative to adapt to consumer demands for diversified financial services, closely followed China's foreign trade and investment moves to refine its overseas business layout, and has been an obvious enhancement in its capability to provide service globally.
Currently, the bank has established overseas institutions in 44 countries and regions worldwide, and extended its presence in 20 African countries indirectly through holding shares of the Standard Bank of South Africa.

China cracks down on cryptocurrencies with ban on initial coin offerings www.rt.com

Beijing has outlawed raising funds through launches of token-based digital currencies or so-called initial coin offerings (ICOs). The ban means trading and usage of all cryptocurrencies, including bitcoin, could now be illegal in China.

Three countries hold meeting on economic corridor establishment www.montsame.mn

Ulaanbaatar /MONTSAME/ The second expert-level trilateral meeting on implementation of the Program on Establishing Economic Corridor among Mongolia, China and Russia was held in Moscow, Russia on August 29, 2017.