Under the terms of the agreement, Singapore-based buyer Bridge Resources will also accept a net $15-million of existing liabilities within the BNU business structure.

“TerraCom is pleased with the execution of this binding term sheet to divest its noncore operating asset, the BNU coal mining business, in line with the company’s strategic business plan,” said chairperson Wal King on Monday.

“The divestment will relieve the company’s balance sheet of $15-million of current liabilities and will enable TerraCom to continue its transition to a profitable major global thermal coal producer with a clear focus now on the company’s Blair Athol mine, in Queensland, and the more recently acquired Universal Coal mines, in South Africa.”

BNU, which started operations in 2014, has a resource of some 15.26-million tonnes.

The company still retains ownership of the Enkhutunkh Orchlon operation, where it is currently negotiating a divestment, which if successful, would see TerraCom completely exit from Mongolia.

The company said that the divestment of the Mongolian assets would provide TerraCom with a net current asset improvement.

“The United States and Mongolia are strong partners in achieving peace, democracy, and prosperity for Mongolia and for the broader Indo-Pacific region,” said U.S. Ambassador Michael Klecheski. “Now more than ever during this time of the coronavirus pandemic, the United States is committed to support Mongolia’s democracy; sustainable, inclusive private-sector driver economic growth; and sovereignty.”

Around the region, democracy and transparency have been the foundation for keeping citizens safe and healthy during this pandemic. Building on the success of previous USAID projects, the expanded agreement will support the Government of Mongolia in its efforts to improve administrative reform and promote inclusive and participatory governance. The additional USAID assistance will also help bolster citizen engagement and strengthen institutions and bodies engaged in promoting accountability, upholding democratic practices, and delivering public services.

Additionally, the U.S. government through USAID will enhance the capacity of civil society organizations and foster consensus-building processes. USAID will work with local institutions, the private sector, and other donors to advance a citizen-centered approach to development that values the dignity and human rights of individuals, and promotes sovereignty and self-reliance.

The United States and Mongolia have long enjoyed a close partnership pursuing mutual development goals. Ongoing USAID projects are building the next generation of democracy champions to promote effective, accountable governance, increasing lending to small and medium enterprises to grow and diversify Mongolia’s economy, and expanding women and youth engagement in the electoral and political processes.

Multiple sources said that it is difficult for the association to go ahead with the summer grand tournament while the state of emergency is in effect.

The tournament, which was originally scheduled to begin early May in Tokyo, was delayed by two weeks until May 24.

The previous tournament in March was held without a live audience for the first time.

It will be the first tournament to be canceled since spring of 2011 when the association faced a series of match fixing scandals.

The flight landed in the Chinggis Khaan International Airport in the capital city of Ulan Bator on Sunday morning, with 261 passengers onboard, the SEC said in a statement.

The 261 passengers belonging to at-risk groups, including pregnant women, the elderly, children and sick people, will be isolated at designated facilities for 21 days, it added.

The passengers arrived in the western German city of Frankfurt from 13 European countries before boarding the flight, according to the Mongolian Foreign Ministry.

The Asian country has evacuated more than 2,600 nationals from abroad on chartered flights since mid-March.

Mongolia reported 39 cases of COVID-19 as of Sunday. All confirmed cases, including four foreign nationals, are imported.

There have been no local transmissions reported in Mongolia so far. - Xinhua/Asian News Network

The hydrogen push marks one of the few areas where the conservative government’s ambitions align with renewable energy advocates, who fear the government’s support of coal and gas is thwarting efforts to cut carbon emissions.

Energy and Emissions Reduction Minister Angus Taylor said the government has a strong commitment to building a hydrogen industry, as it will create jobs and billions of dollars in economic growth over the next several decades.

“Importantly, if we can get hydrogen produced at under A$2 a kilogram, it will be able to play a role in our domestic energy mix to bring down energy prices and keep the lights on,” Taylor said in a statement.

As of 2018, it cost between roughly A$5 and A$7 per kilogram to produce hydrogen, depending on the technology used, according to the National Hydrogen Roadmap released last year. The roadmap said production costs would have to come down to between A$2 and A$3 to be competitive with other energy sources.

The Advancing Hydrogen Fund will be run and paid for by the government’s Clean Energy Finance Corporation (CEFC) and will focus on projects that demonstrate the technical and commercial viability of producing hydrogen at large scale.

The CEFC hydrogen fund will be working with the government’s Australian Renewable Energy Agency, which recently called for bids for hydrogen projects to be backed by A$70 million in grants.

“We see green hydrogen as offering the most credible pathway to decarbonisation for high emitting sectors,” CEFC Chief Executive Ian Learmonth said, pointing to the transport and manufacturing sectors.

Reporting by Sonali Paul. Editing by Gerry Doyle

Foreign nationals, who have already extended their visa duration, also need to apply for the extension again.

For more inquiries, kindly contact the ‘Immigration Information Hotline: 1800-1882 (08:30AM-05:00PM/week days)

"A total of 350 tests for COVID-19 were conducted across Mongolia yesterday and one of them tested positive," Dulmaa Nyamkhuu, head of the NCCD, said at a press conference.

The latest case is one of 278 Mongolian nationals who were evacuated on a chartered flight from South Korea on Thursday night, Nyamkhuu said.

A French national, who became the first confirmed case of COVID-19 in Mongolia on March 10, returned to his homeland on Saturday morning after making a full recovery, the official added. Enditem

Loan demand among the Mongolian public is decreasing amid the coronavirus outbreak; commercial banks raised their qualifications of loan issue.

Subsequently, the Central Bank of Mongolia has begun postponing loans owed by lenders who have suffered financially due to coronavirus: 6596 of them have applied to postpone loans on average for 6.2 months. Furthermore, 90.4 percent of all credits are salary loans.