1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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UK rejection of €60bn Brexit bill would hurt EU's credit rating - S&P www.rt.com

 
The European Union's credit rating could be downgraded if the UK refuses to pay the €60 billion obligation in the course of implementing the country's exit from the bloc, warns Standard & Poor's.
 
“The EU ratings could come under pressure in an adverse scenario. This is because our ratings on the EU are to a certain extent predicated on our expectation that the UK would honor its share of financial obligations to the EU,” S&P said in a report seen by the Telegraph.
 
EU officials are not only demanding Britain pay €60 billion as it quits the bloc but insist a settlement of the issue should be reached before any other stages of Brexit negotiations can start.
 
The so-called divorce bill is aimed at covering the costs of significant pension contributions and financial liabilities, according to Brussels.
 
The warning issued by the agency will reportedly make the EU even more steadfast when it comes to the matter, as it reveals the risks the bloc may face in case of a hard Brexit.
 
The EU has an AA credit rating, the second highest awarded by S&P. Previously the EU enjoyed the highest AAA rating but was downgraded shortly after the results of the UK referendum.
 
“After the decision by the UK electorate to leave the EU, we have reassessed our opinion of cohesion within the EU, which we now consider to be a neutral rather than positive rating factor,” S&P said at the time.
 
British officials said the UK was ready to pay a settlement to the EU but the demanded sum was too high.
 
The S&P warning came after the claim by an influential Lords' committee that Britain is not legally obliged to pay Brussels any compensation.
 
“This is being presented in a binary way as a divorce bill, in which we owe them. It's not like that. It's more like leaving a gym or a club. You don't continue to pay for other people to use the facilities after you leave,” an unnamed government source said as quoted by the Telegraph.
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Mongolia-China forum on urban development investment held www.en.montsame.mn

 
Ulaanbaatar /MONTSAME/ On April 11, Ministry of Construction and Urban Development of Mongolia, Embassy of Mongolia in Beijing and Mongolian National Construction Association co-organized a forum themed “Mongolia-China Investment for construction and urban development-2017” at the Embassy of Mongolia in Beijing.
 
The forum was attended by over 150 representatives from public and private sectors of Mongolia and China. Opening speeches were delivered by D.Gankhuyag, Ambassador Extraordinary and Plenipotentiary of Mongolia to China and G.Munkhbayar, Minister of Construction and Urban Development.
 
During the forum, the Mongolian delegates delivered a presentation on the current development of Mongolia’s construction and urban development industry and large scale projects to be implemented in the near future in Mongolia. Also, individual business meetings among the companies engaged in the construction sector were held.
 
Furthermore, within the framework of the Mongolia's Construction Minister's visit to China, the Embassy of Mongolia in Beijing launched a special webpage on the website of the Embassy on April 11. At the initiative of Ambassador D.Gankhuyag, the Mongolian Embassy in Beijing is working to create an online pictorial archive of Mongolia's historical and cultural heritages found in the territory of China and other parts of the world.
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Chuluut Canyon Skywalk construction commences www.montsame.mn

Ulaanbaatar /MONTSAME/ Canyon of Chuluut, located in Arkhangai aimag, is a key tourist attraction of Mongolia. 150-meter long glass bridge is being built over the canyon. The project executors say it will be commissioned by Naadam, the biggest traditional festival of Mongolia observed in July.

The skywalk is being made in frames of a project called Khusliin Tour (Dream Tour), which is creating a glass eco-park for travelers, incorporating the skywalk, a mirror maze, steps leading down to the bottom of the canyon to Chuluut River and air slide. The project team plans to entertain the travelers with moto-shows, as well.

Also, within the project, tour camps, one of which will be luxurious and the other, regular. These camps will have 20 glass Gers (tradition dwellings) and 10 ordinary Gers. They are building parking spaces for around 800 vehicles.

The glass bridge will be the fourth skywalk in the world, says the project team. It costs MNT 2.2 billion.

The project team says any foreign or national investors are welcome for cooperation.

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Oyu Tolgoi activities to be assessed www.montsame.mn

Ulaanbaatar /MONTSAME/ A working group headed by the State Secretary of Finance Ministry has been set up to evaluate the activities of Oyu Tolgoi Company by the Government. Yesterday, April 11, Parliamentary Standing Committee on Economy held a second discussion of bills on amendments to the 2017 State Budget law and amendments to the 2017 Social Insurance Fund budget. During the discussion, the working group in charge of development of the bills informed about it in response to MPs questions.

Some MPs of the Economic Standing Committee, asked questions whether the International Monetary Fund has advised to improve Oyu Tolgoi agreement and to make up budget revenue through raising tax on gold, and whether estimation of dollar exchange rate in the budget bill, equaling MNT2538, was projected realistically.

According to the answers of the working group, IMF has given instruction to keep the currency exchange rate stable and to make up budget revenue not depending on mining. MP Ts.Davaasuren made a proposal to improve activities in Oyu Tolgoi and Tamsag mines and transmit income from the mines through the Bank of Mongolia, when distributing the income to relevant organizations. Majority of MPs of the standing committee supported the proposal.

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Oil starts flowing through China-Myanmar pipeline www.chinadaily.com.cn

 
The China-Myanmar crude oil pipeline started operations after an oil tanker began offloading crude oil in the Southeast Asian country on Monday, which signals a new phase in energy cooperation between the two countries and helps ensure China's oil and gas imports.
 
The 140,000-metric-ton oil tanker Suezmax began offloading crude oil at Made Island oil port, the starting point of the pipeline, in Myanmar.
 
The 771-kilometer pipeline ends in southwestern China's Yunnan province.
 
The pipeline has a designed annual transmission capacity of 22 million tons. Once the pipeline becomes fully operational, Myanmar can also be provided with 2 million tons of crude oil through it annually.
 
China National Petroleum Corp, the country's largest oil and gas producer, holds a 50.9 percent stake in the pipeline, while Myanmar Oil and Gas Enterprise owns the remainder.
 
"The pipeline well ensures China's oil and gas import diversification, following the second China-Russia crude oil pipeline, which started operation last year in northeastern China's Heilongjiang province, and the China-Kazakhstan oil pipeline," said Li Li, energy research director at ICIS China, a consulting company that provides analysis of China's energy market.
 
With the new pipeline, China's oil and gas imports will no longer have to pass through the Malacca Straits, a narrow channel that connects the Indian Ocean with the Pacific Ocean, Li said.
 
"The safety level of pipeline transmission is much higher than for sea shipments, which will ensure a stable energy supply to China," she said. "The economic benefits will grow as deliveries increase."
 
The oil gateway will help ease the oil supply shortage in southwestern China, CNPC's South-East Asia pipeline company said.
 
China and Myanmar signed an agreement on Monday, which allows CNPC to import oil via the Bay of Bengal in Myanmar and pump it through the pipeline to a new refinery in Yunnan.
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First freight train sets off for China from UK www.rt.com

 
A train loaded with British goods, has started a 12,000 km journey from England to China, opening a regular direct service between the countries.
It pulled away from Stanford-le-Hope in Essex on Monday to arrive in China in three weeks.
 
Whisky, soft drinks, vitamins, pharmaceuticals and baby products are among the items in 30 containers carried by train.
 
The locomotive will travel through the Channel Tunnel, and then seven countries - France, Belgium, Germany, Poland, Belarus, Russia, and Kazakhstan – before arriving on April 27.
 
The rail journey to China is cheaper than sending freight by air and faster than a voyage by ship, operators say.
 
The route is part of China’s "one belt, one road" program aimed at reviving the ancient Silk Road trading routes between the East and the West. In January, the first freight train from China arrived in the UK.
 
"This new rail link with China is another boost for global Britain, following the ancient Silk Road trade route to carry British products around the world,” UK International Trade Minister Greg Hands said, adding that the rail link "shows the huge global demand for quality UK goods.”
 
The freight service makes London the 15th European city to have a direct rail link with China.
 
"This is the first export train and just the start of a regular direct service between the UK and China,” said Xubin Feng, chairman of Yiwu Timex Industrial Investment which is organizing the service.
 
"We have great faith in the UK as an export nation and rail provides an excellent alternative for moving large volumes of goods over long distances faster," he added.
 
Restoring the Silk Road route was "an important and exciting initiative,” according to Feng.
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Denmark proposes law change to block Russian gas to Europe www.rt.com

 
The European Commission has refused to comment on a proposal by the Danish government to modify the country’s laws allowing it to block the construction of a Russian natural gas pipeline to Europe.
 
Earlier this week, a bill was put to the Danish parliament to make sure foreign, and security policy is considered when assessing the approval of projects such as Nord Stream-2.
 
According to the Danish energy ministry, the present regulations do not allow Denmark to decide on permits for transit pipelines to pass through Danish waters due to foreign policy considerations.
 
“We want to have the possibility to say yes or no from a perspective of security and foreign policy,” said Energy and Climate Minister Lars Christian Lilleholt, adding that it was the only possible way to veto such projects due to environmental concerns.
 
Denmark's right-wing minority government will reportedly negotiate with other parties to win support for the proposal.
 
The Nord Stream- 2 pipeline aims to double the existing capacity delivering natural gas from Russia to Germany and Northern Europe under the Baltic Sea.
 
The pipeline bypasses Ukraine, which the Kremlin says proved to be unreliable for both the exporter and the importer. The gas transit contract between Moscow and Kiev expires in December 2019 and has not yet been extended.
 
Last month, EU officials announced plans to enter security negotiations with Moscow over the project, saying the bloc no longer had legal grounds to stop it.
 
The move followed years of delays over EU concerns the project would strengthen Russia’s dominance of the European gas market and minimize Ukraine’s participation.
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China rejects coal shipments from North Korea www.rt.com

 
A fleet of North Korean cargo ships laden with coal is returning to their home port of Nampo after China ordered its trading companies to refuse the shipments, Reuters reports quoting shipping data.
 
This appears to show China is committed to the ban on imports of North Korean coal after Pyongyang carried out globally criticized missile tests. Coal is the crucial export product of the isolated state, especially the deliveries of the type used for steel making - coking coal.
 
To curb coal traffic between the two countries, Chinese customs ordered companies to return their North Korean coal cargoes starting from April 7, according to Reuters sources.
 
Two million tons are stranded at Chinese ports; the agency reported quoting a source at Dandong Chengtai, one of China's biggest buyers of North Korean coal.
 
To reduced the shortfall in coal imports, China resumed buying American coal this year. According to trade data, China bought over 400,000 tons by late February. The US did not export coking coal to China between late 2014 and 2016. However, President Donald Trump pledged to revive the country’s coal sector.
 
US Secretary of State Rex Tillerson warned that following the missile strike again Syria, North Korea could be the next. Beijing and Washington have reportedly agreed to impose tougher sanctions against Pyongyang if it carries out nuclear or long-range missile tests.
 
President Trump tweeted on Tuesday that a trade deal between China and the US depends on how Beijing tackles North Korea.
 
“I explained to the President of China that a trade deal with the US will be far better for them if they solve the North Korean problem! North Korea is looking for trouble. If China decides to help, that would be great. If not, we will solve the problem without them!” he posted.
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Water scarcity, pollution to take shine off Latin American mining sector www.mining.com

 
Water supply concerns and pollution in Latin America will drive increasingly strict environmental regulations in the region over the coming years, which in turn will also make miners’ life more difficult, a report by BMI Research shows.
 
According to the analysts, in addition to raising costs for mining companies and delaying certain projects, the focus on the amount of water used by the extraction industry will heightened social pressure on firms operating in the area.
 
A recent example of this trend is what happened in El Salvador, which last month passed a law that bans all mining for gold and other metals in the country, in an effort to protect its environment, particularly its water streams.
 
BMI expects the usage and treatment of water in the mining industry to come under increasing scrutiny in Latin America, as droughts or arid environments in key regions heighten tension between miners and local communities and previous incidents lead to additional regulations.
 
The researchers name Chile, Argentina and countries in Central America as the most likely to enforce stricter water regulations due to scarcity, contamination or a combination of both issues:
 
In Chile, the environmental regulatory body (SMA) has been more aggressively pursuing and fining water mismanagement in the mining sector, levelling charges against Antofagasta Minerals' Los Pelambres copper mine and effectively suspending Kinross Gold's Maricunga gold mine in 2016.
 
In Argentina, Barrick Gold paid a $9.8mn fine for a cyanide spill at the Veladero gold mine in 2016, agreeing to increase water monitoring at the operation in res ponse. In March, a provincial government suspended operations at the mine due to a pipeline issue and, in April, Barrick announced the sale of a 50% stake in the Veladero mine to Chinese firm Shangdong Gold Group for $9.6mn.
 
In Brazil, following the 2015 tailings dam burst at the Samarco iron ore mine which killed nearly 20 people and polluted hundreds of miles of rivers, parent firms Vale and BHP Billiton face a $50bn lawsuit for damages. In March, a Brazilian judge suspended the lawsuit as the firms negotiate with prosecutors.
Tighter regulations will come at a time when illegal gold mining is once again picking up in the region on the back improving prices for the yellow metal. Generally, these kinds of miners not only don’t abide by environmental regulations, but also use mercury to isolate small amounts of gold, polluting rivers and streams and eventually impacting the health of local communities.
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Mongolian Cabinet presents its action plan for 2016-2020 www.news.mn

On 11th of April, the Head of the Mongolian Cabinet Secretariat, J.Munkhbat, presented the Cabinet’s Action Plan for 2016-2020’ to M.Enkhbold, Speaker of Parliament. The action plan contains the policies and national programmes which the new government will implement from 2016 to 2020.

The Cabinet will focus on economic recovery and increasing growth in the short term, solving debt repayments, increasing the stability of the banking system, attracting more investment and providing care for the elderly.

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