Likely bidders include ArcelorMittal and Teck Resources.
The miner, which owns 58.7% of the Canadian producer, is said to have been already approached by ArcelorMittal and Teck Resources, Canada's largest diversified miner, Sky News reported.

The alleged sale comes a time when iron ore prices have rebounded — now trading around $68 per tonne.

This is not the first time Rio attempts to offload its interest in IOC. In 2013, then chief executive Sam Walsh tried, but failed to sell it as part of a massive assets disposals the company went through at a time of slumping iron ore prices.

The world’s second largest miner is said to also be exploring a public listing on the Toronto Stock Exchange of IOC, one of Canada’s largest iron ore producers, which last year had revenues of $1.9 billion in 2017.

IOC operates a mine, concentrator and a pelletizing plant in Newfoundland and Labrador, as well as port facilities located in Sept-Îles, in the province of Quebec. It also runs a 418-kilometre railroad that links the mine to the port.

More than half of the HIV-infected are people between 20 and 44 years old. About 99 percent of the infections were sexually transmitted, according to the report.

The first case of HIV infection in Mongolia was recorded in 1992. Since then, 40 people have died of AIDS in this East Asia country with a population of more than 3 million.

In the first seven months of this year, there were a total of 24,928 cases of infectious diseases reported in Mongolia, down by 12.8 percent from a year ago, the report said.

CEO of the MCSD Sh.Lkhagva noted that the parties signed a memorandum of cooperation in 2017. “This time, enhancing our cooperation we aim to give opportunity to Mongolian and Korean investors to buy stocks and bonds of the two countries. Thus, the Mongolian companies will be able to issue IPO at domestic and Korean stock exchanges and vice versa. This will be a big boost to domestic companies that issue IPO and give positive impact on their reputations. The MCSD has concluded a number of cooperation agreements with foreign entities before, but this is the first agreement that approves cross border trade,” said Mr. Sh.Lkhagva.

The MCSD will also cooperate with the Korea Securities Depository on introduction of new products and services targeted to international market including the Depository Receipt.

Ambassador of Korea to Mongolia Jeong Jae Nam attended the event making remarks “In 2011, our two countries have signed the Comprehensive Partnership Agreement. We are working to develop mutually beneficial relations within the agreement. I am delighted that the economic and financial cooperation is expanding with the strengthening of bilateral relation."

The Government of Korea has implemented a number of projects on deposit insurance system and dissemination of macroeconomic information. The projects implemented by the Korean settlement and deposit center between 2017 and 2018 include the advisory services to the MCSD and development of capital market infrastructure.

After the agreement signing ceremony, presentations were made to equity market participants to introduce activities including cross-border securities registration, foreign investment, fundraising at foreign markets and their legal regulations. 
B.Misheel

In July of 2018, the gross industrial output reached MNT 1.3 trillion, decreased by MNT 184.6 billion (12.8%) compared to the previous month.

The seasonally adjusted industrial production index in July 2018 was 174.7 (2010=100), increased by 7.7% from the same period of the previous year, by 14.7% from the end of the previous year and by 2.9% from the previous month.

In the first 7 months of 2018, in mining sector, productions of copper concentrate, zinc concentrate, gold, fluorspar and gravel are increased by 1.3-59.5 %. In manufacturing sector, and production of production of vacuum windows and doors, beer, alcoholic beverage, fodder, buuz and dumpling, sausage products, combed cashmere, cashmere products and wooden products are increased by 5.2-6.5%.

On the other hand, in mining sector, productions of coal, molybdenum concentrate, crude oil and iron are decreased by 3.8-15.6%. In manufacturing sector, productions of cathode copper, wooden window and door, and horse meat are decreased by 3.7-95.7%. In the first 7 months of 2018, the sales of industrial production reached MNT 10.0 trillion and MNT 7.1 trillion (70.7%) of sales were exported.
Source: the National Statistics Office

Tax revenue reached MNT 4.5 trillion, increased by MNT 1.1 trillion or 33.0 percent compared to the same period of the previous year. This growth was mainly influenced by increases of MNT 291.6 billion or 34.1 percent in value added tax, MNT 277.7 billion or 31.5 percent in income tax, MNT 168.4 billion or 68.5 percent in excise taxes, MNT 145.0 billion or 20.5 percent in social security income, MNT 108.5 billion or 33.0 percent in other taxes and MNT 102.8 billion or 39.0 percent in revenue of foreign activities.

The General Government revenue accounted for 79.6 percent of tax revenue, 10.3 percent of non-tax revenue, 7.3 percent of the future heritage fund and 2.8 percent of stabilization fund.

In the first 7 months of 2018, total expenditure and net lending of the General Government Budget amounted to MNT 4.8 trillion, increased by MNT 271.9 billion or 6.1 percent compared to the same period of the previous year. This growth was caused by increases of MNT 199.5 billion or 5.2 percent in current expenditure, MNT 76.0 billion or 69.5 percent in net lending, even though there was a decrease of MNT 3.6 billion or 0.6 percent in capital expenditure compared to the same period of the previous year.

The General Government expenditure and net lending accounted for 84.3 percent of current expenditure, 11.8 percent of capital expenditure and 3.9 percent of net lending.

Source: National Statistics Office of Mongolia

It was mainly driven by increases of MNT 46.4 thousand (9.1 percent) in income from wages and salaries and MNT 28.5 thousand (41.7 percent) in income from non-agricultural production and services.
In the second quarter of 2018, monthly average household real monetary income (effects of price change have removed) was MNT 982.9 thousand, increased by MNT 56.4 thousand (6.1 percent) compared to the same period of the previous year.

In the second quarter of 2018, monthly average household monetary expenditure amounted to MNT 1.1 million, increased by MNT 96.7 thousand (9.7 percent) compared to the same period of the previous year.
This increase was mainly driven by an increase of MNT 73.1 thousand (9.7 percent) in non-food expenses and services and other expenditure.

In the second quarter of 2018, monthly average household real monetary expenditure (effects of price change have removed) was MNT 1025.0 thousand, increased by MNT 22.9 thousand (2.3 percent) compared to the same period of the previous year.

Source: National Statistics Office of Mongolia

Copper fell 2% to $2.6770 a pound or $5,902 a tonne on the Comex market in New York bringing its losses over just two months of trading to nearly 20% or $1,450 a tonne.

China consumes nearly half the world's copper and data released today showed fixed investment in manufacturing, real estate and infrastructure for the first seven months came in well below expectations at 5.5% year on year.

In a research note, Capital Economics says on a monthly basis this means that growth recorded its slowest pace on record declining from 5.7% in June to 3% last month.

The independent researcher says there are further downside risks to the Chinese economy in the coming months because credit growth is still slowing:

The recent strength of exports is also unlikely to be sustained in the face of expanding tariffs and cooling global growth.

Admittedly, infrastructure spending may soon bottom out given the recent shift toward a looser fiscal stance and monetary easing should eventually drive a turnaround in credit growth.

However, these are unlikely to put a floor beneath economic growth until the middle of next year.

Safer supply
Workers at the Escondida mine in Chile, the only copper operation with output of over one million tonnes per year, called off a strike set to kick off on Tuesday, extending negotiations with part-owner operator BHP.

The extension follows five days of closely-watched talks over pay at the mine that have been mediated by the government of Chilean President Sebastian Pinera.

“We’ve managed to clear up the points that had stalled the negotiation. But there are still some important points to be resolved,” the union said in a short statement, without giving further detail.

Anglo-Australian mining giant BHP also said in a statement that it had agreed to extend talks with the union through Tuesday.

In its last known offer more than two weeks ago, BHP offered a signing bonus of about $18,000, plus separate bonuses intended to buy out clauses in a previous contract that allowed for housing benefits and a loan program.

The total package was valued at $27,700, including a salary increase of 1.5 percent.

But the union had asked for a signing bonus almost double that offered by the company, and had requested a salary increase of 5 percent, leaving a wide gap between the two sides.

The union said it would have to take any potential deal on Tuesday back to its members for approval.

A 44-day strike in February-March last year crippled production at Escondida, which BHP expects will produce more than 1.2m tonnes in 2018 (up from 925kt last year).

Nio started selling its first vehicle, the ES8 SUV, in December – three years after the company was founded. The vehicle comes with a price tag of $65,000, or about half the current price of the most basic version of Tesla’s Model X SUV in China.

The Chinese company is seeking to launch the more affordable ES6 sport-utility vehicle next year and bring out a sedan called the ET7 in 2020. “We are generally targeting to launch a new model every year in the near future as we ramp up our business,” the company said in Monday’s filing.

Like Tesla, Nio is burning through money. The company had a net loss of $502.6 million on less than $7 million in revenue in the first half of 2018, according to the filing.

Nio’s move to sell shares in the US comes at a time when Tesla CEO Elon Musk has a plan to set up a gigantic factory in Shanghai, China to corner a market where the government is promoting new-energy vehicles with incentives for buyers.

According to Bloomberg estimates, by 2040, more than half of all new car sales and a third of the world’s automobile fleet, which is 559 million vehicles, will be electric.

Within the frames, a comprehensive measures are intended, such as establishment of coal processing plant, introduction of electric heaters and liquefied gas into use and housing program for ger area residents. These measures are believed to contribute to the reduction of air pollution by 50 percent.

To see the implementation process of the Government resolution, Head of the Cabinet Secretariat of Government G.Zandanshatar and authorities of 'Erdenes Mongol' LLC worked at 'Tavantolgoi Tulsh' Company on August 13.

The company is capable of producing 100 thousand tons of processed fuel per year. Price for five tons of processed fuel is about MNT150 thousand or cheaper than that of raw coal. Experiment showed that five kilograms of processed coal retain its heat for eight hours, said J.Batbileg, general engineer of Tavantolgoi Tulsh Company.

Calculating that a household of ger area in the city burns five tons of coal annually, then annual coal consumption of 214 thousand households of ger area will be over a million tons. As the coal of Tavantolgoi deposit has high calories, the needs are likely to be entirely satisfied if plants produce over 600 thousand tons of processed fuel.

There are 52 thousand ger households living in central area of the capital city, 97 thousand households in western area and over 53 thousand in eastern area. It plans to produce 300 thousand tons of processed fuel in total.

The same day, G.Zandanshatar also visited a South Korean company which produces processed fuel.

M.Unurzul