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Turquoise Hill sells its remaining stake in SouthGobi Resources

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By Ch.KHALIUN New York and Toronto Stock Exchange listed Turquoise Hill Resources has decided to sell its remaining stake in SouthGobi Resources (22 percent) to Novel Sunrise Investments (headquartered in China) for 17 million CAD (13.5 million USD). Turquoise Hill sold 48.7 million shares for 0.35 CAD each. The price was 31 percent lower than [...]

February 26th, 2015 | Posted in Business & Economics | Read More »

Khutul cement factory receives state honors

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By Ch.KHALIUN On February 16, Khutul Cement Lime JSC was awarded the State Gerege, the highest honor for contributing to national development. Gogo.mn spoke with the Executive Director of Khutul Cement Lime JSC, G.Batdorj, about the company. Congratulations for receiving such a precious award. Thank you. I would like to thank all the senior engineers, [...]

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

OT reports export of its one millionth ton of copper concentrate

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By Ch.KHALIUN Last Thursday, Oyu Tolgoi LLC (OT) reported that the company had shipped its one millionth ton of copper concentrate. The company exported its first shipment of concentrate in July 2013. President and CEO of OT Andrew Woodley said, “It is a very important achievement for our company. Exporting its one millionth ton of [...]

February 24th, 2015 | Posted in Business & Economics | Read More »

Mineral sector representatives gather at Mineral Resources Sector 2025-II forum

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By Ch.KHALIUN The open forum Mineral Resources Sector 2025 – II took place on Friday at the State Palace, with the aim to advance competitiveness and transparency in the mining and oil sectors. The forum consisted of three parts: “Social and Economic Impacts of the Mining Sector” and “Sector Competitiveness” under the slogan “Mineral Resources: [...]

February 22nd, 2015 | Posted in Business & Economics | Read More »

Everything but the ordinary

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Mongolia is participating in ITB -2015, the world’s leading travel trade show for the first time as an official partner. The government is paying attention to the necessity of bringing Mongolia to the world’s spotlight, increasing the competitiveness of Mongolia and diversifying the economy. In this exhibition, Mongolia is joining under the tagline of “Nomadic [...]

February 17th, 2015 | Posted in Business & Economics | Read More »

AFCCP reports illegal operations at the Mineral Resources Authority

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By Ch.KHALIUN At a press conference held on Tuesday, the Authority for Fair Competition and Consumer Protection (AFCCP) reported violations found during an investigation of the Mineral Resources Authority (MRA), announcing that the process of issuing exploration licenses violates the law. Head of the AFCCP T.Ayursaikhan said measures will be taken to invalidate the illegal [...]

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

Baganuur celebrates exploitation of 100 million tons of coal

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By Ch.KHALIUN On Monday, one of the biggest Mongolian mining companies, Baganuur JSC, exploited its 100 millionth ton of coal, coinciding with the 37th anniversary of the mine’s opening. The mine was founded in 1978 to provide thermal power stations with coal. Exploiting 100 million tons of resources is a historical success among Mongolian mining [...]

February 12th, 2015 | Posted in Business & Economics | Read More »

Made in Mongolia 2015 generates one billion MNT in sales

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By Ch.KHALIUN Tsagaan Sar Exhibition – Made in Mongolia 2015 was held for one week at Misheel Expo, and ended on Wednesday. The organizers of the exhibition highlight that this year’s sales were good, and that participants traded one billion MNT in goods. Last year over 700 entities participated in the exhibition, while this year [...]

February 5th, 2015 | Posted in Business & Economics | Read More »

Mongolian entrepreneurs offered a chance at a free trip to Poland

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By Ch.KHALIUN The journal Mongolian Economy, the Polish Ministry of Economy, and M Promotion Agency are inviting Mongolian entrepreneurs and business owners from the food and mining sectors to take a free trip to Poland to become acquainted with Polish companies. The main goal of the trip is to advance trade between Poland and Mongolia. [...]

February 5th, 2015 | Posted in Business & Economics | Read More »

Mega Project Development Forum held

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By Ch.KHALIUN Yesterday, the Mega Project Development Forum was organized with the government’s support. A megaproject is a project that requires investment of more than one billion USD, has many participants, is at the center of public attention, and requires solutions for the project’s location and infrastructure. The government is placing high priority on megaprojects [...]

January 30th, 2015 | Posted in Business & Economics | Read More »

Recently Commented

  • NAMBC: The SouthGobi verdict needs to be walked back. This episode is hurting Mongolia’s image among international investors, who...
  • JonaQuestArt: I attended This amazing event with talented Artists from across the world. It was great to see the works of Mongolian...
  • Honheree: The government of Mongolia has no clue about finance or economics. Does anyone remember in January, 2014 that the Finance...
  • MongolAbroad: Ulaanbaatar absolutely must be on this line…what is the Mongolian government doing letting this slip? The...
  • Robert Ritz: Considering tourism went down 10% last year in Mongolia, but went up over 10% in the rest of the world. I think the goal of...