During the meeting, Minister B.Enkh-Amgalan expressed his interest in introducing French advanced technology, attracting investment and training personnel. He also expressed willingness to renew the Agreement on air relations that expired in 2016, train the Eurocopter pilots for emergency situations and introduce the helicopter maintenance services to Mongolia. In turn, Ambassador Philippe Merlin expressed support for the proposal.

In recent years, the number of Mongolian visitors and businesses in France have increased. In order to increase the trade turnover, develop tourism and facilitate automobile travel among individuals and enterprises, the sides agreed to establish the Agreement on international road transportation relations between the governments of Mongolia and France.

The price of the steelmaking raw material is up a stunning 73% year-to-date and is now trading at its highest since January 2014.

Iron ore’s rally is primarily supply driven. Vale has suspended 93m tonnes of production following January’s deadly dam collapse in Brazil, while Western Australian output was hampered by storms.

However, the supply crunch is beginning to ease. Rio de Janeiro-based Vale recently received permission to bring its 30m tonnes a year Brucutu operation back into full production.

According to cargo tracking data supplied by Refinitiv,Brazilian exports in June was roughly 500,000 tonnes more than in January this year, with the last monthly data not impacted by the Brumadinho disaster.

At the same time, Australian exports are hitting records with shipments leaving the busiest iron ore terminal in the world – Port Hedland in Western Australia – up more than 20% year on year at the end of June.

China imports around 70% of the world’s seaborne iron ore which is estimated at more than 1.5 billion annually and Beijing’s economic stimulus has also buoyed the market. Chinese steel output is up by more than 10% so far this year, and is now running at an annualized rate of over 1 billion tonnes, and port stocks are 17% below levels seen this time last year.

But here the outlook is also becoming murkier and in its latest quarterly report, the Australia’s Department of Industry predicts Chinese steel output – which represents half global production – has reached its high water mark.

The official forecaster of the world’s top exporting country sees Chinese steel production peaking at 940 million tonnes this year before going into a steady decline, dragging down imports in the process.

This, coupled with supply returning to normal levels, will see the price fall to half today’s levels in 2021. The Australia government’s office of the Chief Economist estimates iron ore prices would average $80 a tonne this year before falling to an average of just $57 a tonne in 2021 as the seaborne market returns to surplus.

The price used by the Dept. is free-on-board Australia, so for comparison with the benchmark, add between $6 – $10 for cost and freight.

While the proportion of Bitcoin transactions dedicated to illegal purchases is declining, about $515 million of the digital coin has already been spent this year on the so-called dark web, according to the firm, which helps companies such as cryptocurrency exchanges investigate and prevent illegal transactions. Dark-net spending in Bitcoin peaked in 2017, at $872 million, and declined last year as the coin’s price took a dramatic dive.

The findings are a reminder of the regulatory risks surrounding the digital tokens, which are beloved by criminals looking to preserve some degree of anonymity. Last month, the Financial Action Task Force -- an inter-governmental organization focused on combating money laundering and terrorist financing -- began mandating strict know-your-customer measures for crypto exchanges and custodians. Also in June, Europol met with companies in the space to trade tips on best practices in detecting crypto-facilitated crime.

Bitcoin Darknet Market Activity
Of all the illegal online marketplaces, Hydra is the largest, according to Chainalysis, which examined transactions on the Bitcoin blockchain to see how much was being spent on these sites. Drugs are the most prominent category of goods sold, but child porn and stolen credit-card information are also in demand, Chainalysis found. Bitcoin is the most popular cryptocurrency accepted on these marketplaces, followed by Monero, Chainalysis said.

While the growth in illicit Bitcoin spending may be alarming, a major caveat is that the proportion of Bitcoin transactions tied to illicit deals is declining. Illegal activity has accounted for less than 1% of all Bitcoin activity so far this year -- down from 7% in 2012, according to Hannah Curtis, senior product manager of data at Chainalysis.

The event marked the 70th anniversary of the establishment of diplomatic relations between China and Russia, as well as China and Mongolia. Highlighting the development of the Belt and Road Initiative and seeking opportunities in Hulunbuir, the exhibition gathered a wide range of featured products from 645 exhibitors from the three countries as well as 25 Belt and Road countries and regions. Exhibitors from Japan and Republic of Korea also attended the event for the first time.

Senior officials including the president of the parliament of the Dornod Province in Mongolia, the labor union chairman of the Republic of Buryatia, deputy director of Inner Mongolia's commercial bureau as well as exhibitor representatives attended the opening ceremony.

The fair has been held for 15 years, with its scale and level rising continuously. It has become a famous brand for the Hailar-Chita-Choibalsan sub-regional economic and trade cooperation, which has effectively promoted the trade and cultural exchanges in the neighboring regions of the three countries, strengthening the construction of the China-Russia-Mongolia cooperation pilot zone and facilitating the region's deep integration into the Belt and Road Initiative development, according to Jiang Hong, Hulunbuir's mayor.

Hulunbeier prioritizes ecological and green development, and is committed to seeking steady high-quality development. The city will expand opening-up, seek cooperation and mutual benefits, and strive to pursue wider cooperation among the three countries, she added.

"The 70th anniversary of the establishment of diplomatic relations between China and Russia, as well as China and Mongolia will be a new historical starting point for future cooperation. With this exhibition as a platform, I hope friends from all walks of life at home and abroad will further share the development opportunities of Hulunbeier by enhancing exchanges and cooperation," Jiang said.

Designed to be an international, professional and market-oriented event, the fair includes a wide range of activities including commodity exhibitions, economic and trade negotiations, project promotion, conference forums and cultural exchanges.

The event provides an international platform for exchanges, trade and economic negotiations for exhibitors from the three neighbouring countries and the Belt and Road region, and facilitate the construction of the China-Russia-Mongolia cooperation pilot zone. Cooperation between Hulunbeier and the neighboring regions of Russia and Mongolia are enhanced, boosting the high-quality development of the regional economy.

Hakuho, who has won a record 42 grand sumo tournaments, hopes to become a stable master and coach younger wrestlers after he retires.

But to do that, he must become a naturalized Japanese citizen. He submitted documents to the Mongolian authorities in April.

On Saturday, after dedicating a ring-entering ceremony at Atsuta Jingu Shrine in Aichi Prefecture, central Japan, Hakuho told reporters that the Mongolian authorities had approved his denaturalization.

He said he has cleared the first step but the process has just begun, and that he will make an announcement when he obtains Japanese citizenship.

Former sumo wrestlers who have obtained Japanese citizenship to become stable masters include former Yokozuna grand champion Musashimaru from the United States and former Mongolian sekiwake Kyokutenho.

Source: https://www3.nhk.or.jp/nhkworld/en/news

Asian demand for the heating fuel is expected to top out this year, as large consuming countries, including China, turn to cleaner energy such as hydropower, nuclear and renewables, Australia’s Department of Industry said in its Resources and Energy quarterly report.

Australia is the world’s second-biggest exporter of thermal coal, behind Indonesia, shipping out an estimated 209 million tonnes last financial year. Some 39% of its exports go to Japan, and roughly a quarter to China.

“The trend for world imports … is likely to be slightly downwards. Imports from most developed countries are forecast to decline, as governments phase out coal-fired power generation,” the report said.

It also pointed to signs that Japan would pivot away from thermal coal more quickly than expected, after the country shelved two coal-fired power projects in the past six months with a third also likely.

Australia’s exports were forecast to grow slightly in 2020/21, but the report forecast a fall in benchmark Newcastle spot prices from $105 a tonne in 2018 to $83 a tonne this year and $75 in 2020.

At the same time, exports from the world’s second-largest gold producer are set to climb 12% in the 2019/20 financial year from 329 tonnes in the year to end-June, while gold prices are expected to rise.

“Trade and geopolitical risks are likely to support gold prices,” it said. The report expected gold to average $1,440 an ounce in 2021, compared with $1,392 an ounce on Monday.

It forecast gold exports worth A$22.0 billion ($15.40 billion) in 2019/20, ahead of A$21.2 billion of thermal coal exports.

Total resource and energy commodity earnings for 2019/20 were expected to rise by 3.4% to $285 billion, partly due to a prolonged shortage in iron ore exports from Brazil and a weaker Australian dollar.

($1 = 1.4282 Australian dollars)

(By Melanie Burton; Editing by Richard Pullin)

In December, the NPP will begin supplying energy to Pevek, which will allow the phasing out of two onshore power stations.

Chukotka is one of the most isolated regions in Russia, with most of its territory located beyond the Arctic Circle, where poor transport links and permafrost complicate large-scale construction.

The NPP is expected to become one of the key infrastructure elements in the development of Russia’s Northern Sea Route.

‘Akademic Lomonosov’ boasts two KLT-40S reactors, capable of producing up to 70 megawatts of electricity and 50 gigacalories an hour of heat energy. The reactors are a new modification of the KLT-40M units used by the Taymyr-class shallow-draft nuclear-powered icebreakers. A single unit can produce enough energy and heat to meet the demands of a city with a population of 100,000.

The power plant’s operational lifespan is 40 years, which can be extended to 50 years. Following the end of its life cycle, the unit can be taken away for reactor replacement and maintenance, without leaving any hazardous materials behind.

The NPP will become the first of a proposed fleet of floating nuclear power plants that can provide heat and energy to Russia’s remote regions, and assist in natural resource extraction. Russia also plans to lease the plants to other countries, where they will be used for electricity production and water desalination, as the facility could be converted into a desalination plant with production capacity of some 240,000 cubic meters of fresh water per day