Erdenet Methane LLC signs Methane Investment Agreement www.zgm.mn

Erdenes Methane LLC and Jade Methane LLC of Australia established Methane gas investment agreement to set reserves of coal seams of coal at Tavantolgoi deposit. Executive Director of Erdenes Methane LLC and Executive Director of Jade Methane LLC have signed the contract on May 17, 2019.

Decline in Iran's Trade With Mongolia www.financialtribune.com

Iran traded 2,523 tons of non-oil commodities worth $11.44 million with Mongolia in the last fiscal year (ended March 20, 2019), registering a 18.14% and 23.16% decline in tonnage and value respectively compared with the year before, latest data released by the Islamic Republic of Iran Customs Administration show.

State Secretary D.Davaasuren receives EEC delegates www.montsame.mn

Ulaanbaatar /MONTSAME/ Delegates led by Director of Department for the Development of Integration of the Eurasian Economic Commission (EEC) S.S.Shukhno are working in Ulaanbaatar city on May 20-22.

Death in Mongolia’s State Palace www.news.mn

Former Mongolian lawmaker G.Batkhuu, also former Deputy Chair of Democratic Party, was found dead in Mongolia’s most important building, the State Palace, on Friday (17 May). According to one source, G.Batkhuu was discovered by a security guard with an apparently fatal head injury in the western section of the ground floor of the building at 7.00 p.m. The guard, evidently, called an ambulance as well as the police. However, he was already dead before the ambulance arrived at the scene.

Indian PM wears Mongolian deel during meditation www.news.mn

Indian Prime Minister Narendra Modi began his two-day visit to Uttarakhand on Sunday with a visit to Kedarnath shrine. Dressed in deel, a traditional Mongolian outfit, PM Modi offered prayers at the temple for around half-an-hour and undertook circumambulation of the shrine. He meditated and took stock of the ongoing development works in the temple town.

Pacific Air Forces Commander Visit to Mongolia Affirms Growing Partnership www.pacom.mil

ULAANBAATAR, Mongolia -- Gen. CQ Brown, Jr., Pacific Air Forces (PACAF) commander, met with senior leaders from Mongolia and the United States here May 14, to seek opportunities to enhance cooperation and partnership with the Mongolian Air Force Command (MAFC).

“It is a real honor for me to be here to gain a greater understanding of our two air forces and identify ways we can make progress together,” Brown said. “We have many shared interests and values and we look forward to greater cooperation to ensure peace and stability in the region and around the world.”

Though Mongolia has a history of military aviation capability, the MAFC only recently reestablished in January 2017, making Brown’s visit not only his first time in country, but also the first for a PACAF commander since the MAFC’s establishment.

Developing an air force has been one of U.S. Indo-Pacific Command’s long-term priorities for greater engagement with Mongolia, and part of the command’s overall goal to assist the Mongolian Armed Forces (MAF) in pursuing defense reform priorities.

As such, the visit builds upon a number of frequent engagements between the two nations, to include Defense Minister Enkhbold Nyamaa’s visit with Acting Secretary of Defense Patrick Shanahan in April in Washington D.C., and the inaugural Airman-to-Airman Talks hosted at PACAF Headquarters at Joint Base Pearl-Harbor Hickam, Hawaii, in March.

“It was really important of me to come here after the Airman-to-Airman Talks to solidify the topics we discussed and highlight our commitment to the long-term relationship,” Brown said. “Frequent engagement at various levels is important to building the relationship and enhancing capabilities in areas of shared interest throughout the region.”

Throughout the two-day visit, Brown met with key defense and military leadership, to include Minister Nyamaa, MAF Chief of General Staff Maj. Gen. Ganbat Ayush, MAFC Commander Brig. Gen. Enkhbayar Ochir, as well as U.S. Ambassador Michael Klecheski and members of the U.S. Embassy.

In addition to evaluating the success of the Airman-to-Airman Talks, discussions during the visit included opportunities to enhance training, exercises and subject matter expert exchanges.

In Mongolian tradition and showcasing the importance of horses to their culture, Brown had the honor of receiving a horse to be named by him, and to remain in country to exemplify the enduring relationship. In tribute to his home state of Texas and the state from which he now serves, Hawaii, the general named the young horse, “Lone Star Koa.” Koa is Hawaiian for warrior.

In addition to the long-standing relationship of supporting missions in Afghanistan and the United Nations peacekeeping operations, other examples of the bilateral relationship include the strong bonds between the Alaska Air National Guard through the State Partnership Program as well as participation and observation in a number of multilateral events and exercises throughout the region.

“There is plenty of opportunity between the things we have worked on together in the past, the things we are doing today, and our commitment to increased engagement in the future,” Brown said.

Additionally, in 2018 the first Mongolian cadet entered the U.S. Air Force Academy, and the first MAFC officer completed U.S. pilot training.

In late July, early August, Mongolia will cohost a Pacific Angel humanitarian event, part of a three-part series of humanitarian assistance and civil military assistance events held annually around the Indo-Pacific region.

Brown also provided an invitation for the MAFC to attend the Indo-Pacific Safety Air Force Exchange in August in Hawaii. He is scheduled to host MAFC leadership, alongside many other partner nations, at the next Pacific Air Chiefs Symposium at PACAF in December.

Next month, the MAF and U.S. Indo-Pacific Command will co-host the annual Khaan Quest multilateral peacekeeping exercise in Mongolia, considered the cornerstone of the defense cooperation between the two nations. More than 1,700 military members are expected to take part in various exercises between June 14-28, to include an appearance from INDOPACOM leadership.

Buoyed by mining recovery, Barloworld looks to Mongolia for growth www.m.miningweekly.com

Barloworld’s results on Monday reflected some of the biggest trends in the South African economy, with the company reporting a sharp drop in equipment sales to the troubled construction industry, as well as a decline in new-vehicle sales and car rental days, but with the mining industry seemingly lifting its head.

The equipment and logistics company reported a 1.6% drop in revenue for the six months ended March 31, to R30.4-billion, compared with the same period in the 2018 financial year.
Operating profit declined by 4%, to R1.9-billion.

The Equipment Southern Africa business saw a 15.7% jump in revenue, to R10-billion, driven by a 32.2% growth in machine sales.

Operating profit was up 9.8%, to R806-million.

Sales to the mining industry grew from 20% of all equipment sales in the previous comparable period, to 24%, with sales to the contract mining industry growing from 14%, to 30%.

Sales to the construction industry shrunk from 52%, to 40%.

Equipment Southern Africa CEO Emmy Leeka said on Monday in Johannesburg that he expected commodity fundamentals to remain favourable, and to support continued recovery in the mining industry.

In the construction industry, however, Leeka anticipated trading conditions to remain challenging in the second half of the financial year.

As for Equipment Russia, revenue was down 22.7%, to $229.3-million, with operating profit down 9.4%, to $22.3-million. This was largely owing to significant package-mining-machine deals sealed in the previous comparable period.

Looking ahead, Equipment Russia CEO Quinton McGeer expected increased customs duties on US sourced units to impact large future mining product opportunities.

“This is something we need to plan for.”

Barloworld CEO Dominic Sewela said on Monday that the company had, in pursuit of growth and to use its strong balance sheet, entered into negotiations to acquire Wagner Asia Group, a Mongolia based equipment dealer.

“For us, as from this year, we are really focusing on growth.”

Barloworld’s Automotive business saw a 7.7% drop in revenue, to R14.2-billion, with operating profit up 0.2%, to R885-million.

CEO of this business, Keith Rankin, said the car rental market declined by 2% in rental days in the period under review.

Barloworld also saw a 6.3% decline in new units sold for the six months ended March 31. Around 20% of Barloworld’s new-car sales are in the premium market, which has been exceptionally hard hit in the current economic environment.

Rankin expected rental days to remain under pressure in the second half of the year. Difficult market conditions in the new-vehicle market would also continue.

Rankin is set to depart his position at Barloworld, with Logistics business CEO Kamogelo Mmutlana to add the automotive portfolio to his job description.

Logistics saw a decline in revenue from R3-billion to R2.9-billion, with operating profit down from R99-million, to R68-million.

The bulk of the losses flowed from KLL, which had a R66-million impact on Barloworld’s results in the period under review.

KLL has since been closed.

Looking ahead at the business conditions facing Barloworld, Sewela expected more of the same for the next six months.

Equipment sales should remain strong, while the South African consumer, however, would remain under pressure and unlikely to experience any financial relief.

Asian folklore artists to compete in Mongolia's capital in June www.xinhuanet.com

ULAN BATOR, May 20 (Xinhua) -- Asian folklore artists will gather in the Mongolian capital of Ulan Bator in June to participate in the Asian Championship of Folklore, authority said Monday.

Speaker meets representatives of World Bank Group www.montsame.mn

Ulaanbaatar /MONTSAME/ Speaker of the State Great Khural G.Zandanshatar received representatives of the World Bank Group (WBG).

Mongolia imports MNT 150 billion worth glassware on average www.zgm.mn

According to the Customs General Administration, Mongolia is purchasing about MNT 150 billion worth glasswares. The import of glass and glassware is leading to a significant amount of currency outflow, causing a negative balance in trade and increasing USD rate.