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R.Jigjid: OT will contribute 350 million USD to the state budget this year

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By B.KHASH-ERDENE Standing Mining Minister R.Jigjid was interviewed about timely issues in the mining sector of Mongolia, such as Oyu Tolgoi and Tavan Tolgoi mines. A Mongolian delegation headed by Prime Minister Ch.Saikhanbileg visited Dubai in May to resolve the matter of Oyu Tolgoi’s underground mining development plan. After the signing of the deal resulting [...]

August 27th, 2015 | Posted in Business & Economics | Read More »

Minister of Agriculture shares nationwide harvest estimates

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By B.KHASH-ERDENE Agriculture Minister R.Burmaa introduced the preliminary estimates for the nation’s crop harvest during Tuesday’s cabinet meeting. According to the ministry’s data, farmers will harvest 265,000 tons of wheat, 252,3000 tons of grain, 117,300 tons of potato, 75,300 tons of vegetables, 28,700 tons of oil plants, and 53,900 tons of fodder. Due to drought [...]

August 25th, 2015 | Posted in Business & Economics | Read More »

Khan Resources says Mongolia’s effort to annul arbitration award is futile

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By B.KHASH-ERDENE Khan Resources Inc. believes that Mongolia’s attempts to annul the 105 million USD arbitral award against the Government of Mongolia in favor of Khan will not succeed, as stated in a recent legal update from the company. “The Mongolian government is now trying to use the French legal system to get out of [...]

August 20th, 2015 | Posted in Business & Economics | Read More »

Western region construction material factories to recieve state support

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By B.KHASH-ERDENE During Monday’s Cabinet meeting Minister of Industry D.Erdenebat was made responsible for the development and commencement of Western Hold LLC’s cement factory in Buyant soum, Khovd Province, as part of an effort to provide support for construction material factories in the western region of Mongolia. Once built, Western Hold’s cement factory is expected [...]

August 18th, 2015 | Posted in Business & Economics | Read More »

Coal exports drop by 2.5 million tons

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Statistics show that coal exports have decreased by 2.5 million tons compared to the first half of 2014, when Mongolia exported 9.4 million tons of coal. In the first half of 2015, Mongolia exported 663,800 tons of copper concentrate, 2.3 million tons of iron ore concentrate, 4 tons of gold, 6.9 million tons of coal [...]

August 16th, 2015 | Posted in Business & Economics | Read More »

Pilot plant to produce methane gas from coal opens

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By B.DULGUUN Erdenes Tavan Tolgoi JSC, Korea Gas Corporation, and Mongolia’s largest drilling company, Elgen LCC, partnered to launch Mongolia’s first pilot plant to produce methane gas from coal. Now that the plant has been commissioned, authorities have proceeded to discuss exploring the methane gas resources of coal seam gas from Mongolia’s largest deposit and [...]

August 13th, 2015 | Posted in Business & Economics | Read More »

Minister Burmaa meets agronomists and farmers to discuss harvesting issues

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By Ch.KHALIUN On Monday, Minister of Food and Agriculture R.Burmaa received agronomists and farmers from Tuv, Selenge and Bulgan provinces, the major agricultural centers of Mongolia. Two weeks ago representatives from the Ministry of Food and Agriculture visited the agricultural regions to meet with the heads of their food and agriculture organizations to exchange views [...]

August 11th, 2015 | Posted in Business & Economics | Read More »

Enterprises oppose government’s hold on promissory notes

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By Ch.KHALIUN Authorities of Us-Erdene LLC made a statement to the press, announcing that they oppose the government’s decision to stop the release of promissory notes. Minister of Finance J.Erdenebat reported that the Standing Committee on Budget decided to temporarily stop promissory note issuance for the financing of projects and measures with over 80 percent [...]

August 9th, 2015 | Posted in Business & Economics | Read More »

Cabinet stops issuing promissory notes

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By Ch.KHALIUN The Ministry of Finance reported that the issuance of government promissory notes for financing projects and measures with over 80 percent completion have been temporarily suspended. The Parliament of Mongolia decided to issue promissory notes at a five percent annual interest rate through Resolution No.7 issued on January 23, 2015. Following this decision, [...]

August 7th, 2015 | Posted in Business & Economics | Read More »

Energy Minister visits major coal producers

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By Ch.KHALIUN Last week, Minister of Energy D.Zorigt worked in Shivee-Ovoo and Baganuur, where the sector’s major coal producers operate, to be updated on their activities and exchange views on issues that are challenging the energy sector. The Minister first visited the mining site of Shivee-Ovoo, a state owned company. The mine opened in 1992 [...]

August 4th, 2015 | Posted in Business & Economics | Read More »

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