Rio Tinto dodges emissions cut, but issue unlikely to go away www.reuters.com

Rio Tinto shareholders in Australia voted on Thursday against forcing the miner to set targets for the emissions of its steel-making customers, but the issue is unlikely to go away as more than a third supported the motion. Investors have been pushing for corporate giants to cut back their emissions as part of a wider drive to combat global warming outlined in the Paris climate accord.

Rio Tinto, which makes around 85% of its profits from sales of iron ore, has come under increasing pressure given its huge exposure to the steel industry, one of the world’s heaviest polluters.

About 63% of shareholders in Australia voted against the resolution calling on Rio Tinto to set targets for its customers, called scope three emissions, while the other 37% voted in favour. The resolution was proposed by Friends of the Earth unit Market Forces and other investors.

“It is extremely problematic for the mining industry to set targets for the steel industry,” Rio Chairman Simon Thompson said.

“What Market Forces is asking us to do is set measures for a process we do not control and where we cannot even measure the starting point, nevermind any improvement.”

A similar climate change-related resolution failed at BHP Group , the world’s largest listed miner.

RIO LATE LAST YEAR SET TARGETS TO REACH ZERO EMISSIONS BY 2050, TO CUT EMISSIONS INTENSITY BY 30% AND ABSOLUTE EMISSIONS BY 15% BY 2030

Rio late last year set targets to reach zero emissions by 2050, to cut emissions intensity by 30% and absolute emissions by 15% by 2030.

BHP and Brazilian miner Vale have also pledged to set scope three goals. One way for Rio to cut emissions would be to close its Australian aluminium operations that are fuelled by coal-fired power after it put the loss-making business under review last year.

Rio Tinto is still in discussions with state and federal governments as well as power utilities to find a “commercial solution”.

“If we were at this stage to take more rapid unilateral action to reduce emissions, it would require the closure of some of our operations,” Thompson said.

Rio promotes itself as the only major miner that does not produce carbon since it sold off its coal assets, but it also drew criticism over plans to build a $1 billion coal-fired power plant in Mongolia, to support its copper mine.

The new power plant, which it is required to build under its investment agreement with the Mongolian government, would be more efficient than buying coal-fuelled power from Chinese plants as it does now, Thompson said.

Thompson also refuted calls for Rio Tinto to quit the Minerals Council of Australia (MCA), despite acknowledging that MCA has sometimes advocated actions that have not always aligned with its climate policies.

Like BHP, Rio argues that change is easier from within. Thompson noted that MCA has since changed its processes, and has done good work promoting safety and coordinating the industry’s coronavirus response.

(By Melanie Burton and Zandi Shabalala; Editing by Kirsten Donovan and Susan Fenton)

Vietnam's rice export ban not to affect Mongolia: Ambassador www.akipress.com

Ambassador of Vietnam to Mongolia Nguyen Thi Doan told the Mongolian Ministry of Food, Agriculture and Light Industry that Mongolia will not be subject to rice export restrictions imposed by the Government of Vietnam until the end of June and handed over the letter from the Minister of Agriculture and Rural Development of Vietnam Nguyen Xuan Cuong.

China will strengthen joint epidemic prevention, control with Mongolia: FM www.xinhuanet.com

BEIJING, May 7 (Xinhua) -- China and Mongolia should strengthen joint prevention and control of the COVID-19 pandemic, Chinese State Councilor and Foreign Minister Wang Yi said Wednesday in a phone conversation with Mongolian Foreign Minister Damdin Tsogtbaatar.

Noting that China and Mongolia are good neighbors and good friends, Wang said that in the battle against the epidemic, the two sides have written another chapter on cooperation between neighboring countries which help each other and share weal and woe.

Mongolian President Khaltmaa Battulga, as the first head of state of a foreign country who visited China after the outbreak of the epidemic, demonstrated his support for China with practical actions, Wang said, adding that Battulga's offer of 30,000 sheep on behalf of the Mongolian people has generated a warm response among the Chinese people, and enhanced the traditional friendship between the two sides.

Wang said that with arduous efforts, China has successfully brought the epidemic under control, and is steadily restoring economic and social order while conducting regular prevention and control measures.

The Chinese side is glad that Mongolia took effective prevention and control measures at an early date and has halted the spread of the disease in Mongolia, said the Chinese foreign minister.

Wang urged the two countries to continue to strengthen joint prevention and control measures, explore the resumption of bilateral economic and trade cooperation in an orderly and scientific way, and push for resuming work and production of key projects.

He expects the two sides to explore the establishment of a green channel to facilitate personnel exchanges and cargo delivery.

Wang stressed that the epidemic is a common challenge facing the humankind, and that the international community should join hands to tide over the crisis.

Noting that solidarity, cooperation and determination are in need at this time, Wang said any words and deeds that run counter to them are inappropriate, and attempts to politicize the epidemic and label the virus are unacceptable.

China is ready to work with Mongolia to actively advance international anti-epidemic cooperation and strive for an early and complete victory over the virus.

For his part, Tsogtbaatar said that after the COVID-19 outbreak, China has taken timely and effective prevention and control measures to contain the epidemic in a short period of time, which demonstrates its strong mobilization capabilities and medical science and technology.

China's success will inspire other countries in their fight against the virus, while China's experience is also of great significance to the rest of the world, he added.

Recalling the Mongolian president's visit to China in February and an important consensus reached with President Xi Jinping on anti-epidemic cooperation, Tsogtbaatar said with joint efforts, Mongolia and China have registered no infections from the other side.

Mongolia is ready to strengthen coordination with China, and realize its promise of sending 30,000 sheep to the Chinese people, said the Mongolian minister.

On the premise of safeguarding the health and safety of the two peoples, Mongolia is ready to take advantage of the two countries' joint prevention and control mechanism and other platforms, explore with China the establishment of the green channel and an express line, improve logistics efficiency at border ports, and gradually resume bilateral economic and trade exchanges, he said.

Mongolia is willing to deepen coordination and cooperation with China, so as to overcome the impact and challenges brought by the epidemic at an early date, he said. Enditem

Airline industry won’t recover anytime soon & will never be the same, top travel specialist tells Boom Bust www.rt.com

Government announces more measures to stimulate economy www.montsame.mn

Ulaanbaatar /MONTSAME/. At its regular meeting on May 6, the Cabinet approved more measures to stimulate the economy and provide support to public livelihoods amid the COVID-19 pandemic.

CGD: Coal export dropped to USD 344 million yoy www.zgm.mn

In the first five months of 2020, coal exports reached 4.1 million tons, down 2.7 times from the same period last year, according to the Customs General Administration (CGA). It fell by 2.8 times to USD 344 million. Despite the recovery in coal exports, daily output remained below the performance a year earlier. Seddorj Renchinbyamba, CEO of Tavan Tolgoi JSC, said that the main port Gashuunsukhait will be able to produce coal with at least 500 trucks a day. He also highlighted that if the port opens for 24 hours a day, exports could increase since coal truck drivers are required to cross the border and return on the same day. SouthGobi Resources Ltd., one of the companies that operate in the Nariin Sukhait deposit, exported 90,000 tons of coal in one month after the port resumed operations. Moreover, the trade deficit amounted to USD 181.3 million in the first four months of the year. During the period, total imports decreased by 10.7 percent to USD 1.6 billion year over year, and exports decreased by 40.4 percent to USD 1.5 billion. Mineral exports accounted for 78.6 percent of total export alone. Imports of sugar and rice increased by 32.3 percent and 10.4 percent, respectively. During the reporting period, Mongolia imported 16.8 million masks, 40,600 new types of coronavirus diagnostics, and 5.8 million medical equipment.

OT releases Q1 2020 performance results www.zgm.mn

Oyu Tolgoi (OT) LLC, Mongolia’s largest copper and gold mining company, announces the first quarter 2020 performance results, highlighting key performance metrics, and provided an update on underground development, and prevention measures on COVID-19. OT paid USD 73 million in the form of taxes, fees, and other payments as of April. Since 2010, the company has paid USD 2.7 billion in taxes, fees, and other payments, including VAT, paid to Mongolian suppliers. Between 2010 and the first quarter of 2020, Oyu Tolgoi spent USD 3.3 billion on national procurement, the company said in a report. The company and employees donated MNT 455 million to support the outbreak prevention efforts of COVID-19, including MNT 100 million to the Government of Mongolia (GoM) through the Mongolian National Mining Association, MNT 200 million to the Umnugovi Emergency Committee, and MNT 10 million to the Khanbogd Emergency Committee through the Gobi Oyu Development Support Fund. OT chief executive officer, Armando Torres, said, “We would like to express our gratitude to the Government of Mongolia, the State Emergency Committee at all levels, the Ministry of Health, the Ministry of Mining and Heavy Industry, and all other relevant agencies and frontline personnel working hard to keep us safe during this unprecedented time”.

EU to add Panama, Bahamas, Mauritius to money-laundering blacklist www.reuters.com

BRUSSELS, May 5 (Reuters) - The European Commission is set to include Panama, the Bahamas, Mauritius and nine other countries to its list of states that pose a financial risks to the bloc because of anti-money laundering and terrorism financing shortfalls, a draft document shows.

Mongolia imports 16.9 million face masks in 2020 www.montsame.mn

Ulaanbaatar /MONTSAME/. As of first 4 months of 2020, Mongolia imported 16.9 million face masks worth USD 5 million, of which 4.8 million was imported in April.

Trump says he did not wear mask at Honeywell facility after consulting CEO www.reuters.com

WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday he did not wear a mask during a tour on Tuesday of a Honeywell International Inc (HON.N) factory in Arizona after consulting the company’s chief executive, despite requirements at the plant that workers wear them.