Government Agency for Policy Coordination on State Property was tasked to take measures directed at ensuring the financial independence of ‘Mongolian Oil Refinery Plant’.

‘Mongolian Oil Refinery Plant’ is responsible for handling financing and purchasing activities in the frameworks of the project and budget expenditure, monitoring the formulation of the technical and economic assessment of the project, selecting a contractor for the construction, and making preparations for the construction of the refinery and pipes.

Mongolian Government established a credit agreement of USD 1 billion with Export-Import Bank of India, and decided to implement the ‘Oil refinery construction project’.

Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.

Stuart Chambers is known for his active participation in the sale of several UK companies, including the one where he was chairman until 2016.
The incoming executive is known for his active participation in the sale of several UK companies, including the one where he was chairman until 2016, as he oversaw the sale of Arm to Japan’s Softbank.

Chambers has also held a non-executive director position on the boards of Smiths Group and Tesco, after a career at Nippon Sheet Glass, Mars Corporation and Shell.

Anglo, which was founded in South Africa in 1917, came out in good shape from the recent and sharp rout in metal prices that hurt the mining industry in the past two years.

In February, the company not only posted its first annual net profit in five years, but chief executive Mark Cutifani has also announced there was no need to offload any more assets, even the iron ore, coal and nickel operations he had previously declared non-core.

While Chambers won’t have to deal with financial problems, he’ll need to foster good working ties with Anglo’s shareholders, including one of its newest investors, Indian billionaire Anil Agarwal.

Vedanta’s founder Agarwal announced in March it would invest $2.4 billion in Anglo, which gave his family trust — Volcan Investments — a 12% stake in the firm and made the buyer Anglo’s second-biggest investor.

So far Agarwal has said he thinks of the acquisition as an investment by Volcan, not by Vedanta, adding he is not seeking to take control of Anglo. But industry sources expect him to add to the pressure on Anglo American to deliver returns, following a fresh trend in the mining sector that is seeing activist shareholders demand drastic reforms.

The Australian Trilogy is comprised of three one-kilogram coins struck from gold, platinum and rose gold, with each featuring a different native animal.

Each of them has either a pink, purple-pink or violet diamond, which were unearthed at Rio Tinto’s (ASX:RIO) Argyle mine in the east Kimberley region of Western Australia.

One of the coins, made 99.99% of gold, portrays two kookaburras on a wooden fence looking at a 0.47-carat round brilliant cut fancy deep purple-pink diamond.

The kangaroo coin, crafted from 99.95% pure platinum, depicts the marsupial in an outback plain with a 0.46-carat emerald-cut fancy dark grey-violet diamond.

And the 91.7% rose gold koala coin depicts the animal beneath a eucalyptus tree beside a 0.58-carat emerald-cut fancy intense pink diamond.

The Perth Mint will only ever release one of The Australian Trilogy 2017 Collection, Rio Tinto said in a statement.

The company’s Argyle mine generates more than 90% of the world's pink diamonds, yet less than 0.1% of all the rocks found there are pink.

The 2016 Kimberley Treasure coin, valued at $1 million, sold to an international buyer within 48 hours.

“The Ministry has been assisting in organizations concerning the visa issuance and diplomatic reception. It can be said that the preparation is complete. This conference is of great significance for Mongolia as it is creating great networking opportunities”, said Deputy Foreign Minister B.Battsetseg.

“It is a golden opportunity for Mongolia to present itself through an international network of young people, which is represented in 120 countries”, highlighted P.Batkhishig, President of JCI Mongolia.
“This is the largest event, in terms of the scope of participation, among the regional events of JCI. The sole purpose of the conference is to facilitate the JCI members, who are of age 18-40, with possibilities to share experiences gained and lessons learned”, JCI President Dawn Hetzel noted.

The JCI ASPAC will incorporate actions targeted to personal development of youth, training sessions for business plan, identifying business opportunities and sharing practices of information and technology cooperation. Each training will award certificates to the trainees. Also, forums will be held under nine key topics concerning regional development.
The General JCI Assembly will be attended by more than 1,800 delegates to outline action plans until 2020.

The proposed multi-user railway would enable Aspire to exploit the second largest coking coal reserves in Mongolia. In August 2015 Northern Railways was granted a 30-year concession to build and operate the line, and it is now negotiating funding for the completion of a bankable feasibility study as well as progressing negotiations for the EPC contract and construction financing.

Northern Railways is being supported in this work by China Railway Construction Corp subsidiaries China Railway 20 Bureau and China Railway First Survey & Design Institute.

Under the latest agreement, Northern Railways is to provide the CGGC subsidiary of state-owned China Energy Engineering Corp with access to its technical database, and the companies will work together to source debt and equity funding.

CGGC is ‘one of the pre-eminent international Chinese contractors with a deep experience base in arranging funding for large projects that they participate in, as well as providing direct investment’, said Aspire Managing Director David Paull on June 6. ‘The combination of CR20BGC and CGGC further demonstrates the strategic regional importance of the Northern Rail Corridor.’