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Mongolian Mining Journal names best of the sector

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By Ch.KHALIUN On Saturday, the Mining Journal Awards (MJA) was organized for the fifth time to name the best of the mining sector. The MJA is organized annually by the Mongolian Mining Journal, and based on the independent assessments of judges and total scores, the best are named. Erdenes Tavan Tolgoi JSC was awarded for [...]

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

OT reports ore content data and increased efficiency

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By Ch.KHALIUN Oyu Tolgoi (OT) released its report on production for the fourth quarter of 2014, with details on new ore content data and reports of increased efficiency. The company produced 50,300 tons of copper and 278,000 ounces of gold in the fourth quarter of 2014, increasing copper production by 40 percent and gold by [...]

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

Exploration license applications to be available on January 26

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By Ch.KHALIUN The Mineral Resource Authority (MRA) will start accepting applications for exploration licenses on January 26. The MRA reports that they plan to issue exploration licenses for nine million hectares in the western half of Mongolia. Exploration licenses will be issued in accordance with the policy of Mongolia’s infrastructure development, green development policy, and [...]

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

Domestic flour producers calls for wheat import

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By Ch.KHALIUN On Friday, members of the Mongolian Association of Flour Producers made a statement to the press, announcing the necessity for wheat import from Russia, as domestically harvested wheat doesn’t meet flour standards. Chairman of the Mongolian Association of Flour Producers Ch.Enkhbayar said that the harvest was sufficient this year, but the quality was [...]

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

Affordable housing strategy for low-income residents unveiled

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By B.MENDBAYAR A consultation themed “Affordable housing strategy for Ulaanbaatar residents” was organized last Saturday by the Governor’s Office, in cooperation with the World Bank and Affordable Housing Institute of the USA. Developing the strategy took over six months. In addition to improving the living standards of citizens, providing affordable housing for residents with small [...]

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

Mining recovery yields increase in USD-MNT exchange rate

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By B.MENDBAYAR News.mn interviewed Director of the Asset Management Department at Khaan Bank T.Uuganbayar on the recent increase in the USD exchange rate against MNT. The USD exchange rate against MNT has abruptly increased over the past few days. What affected this increase?  The increase in the exchange rate stemmed from increased demand [for USD]. [...]

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

Mongolia not included in new Beijing-Moscow high-speed railway

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By B.MENDBAYAR New high-speed railway from Moscow to Beijing will be laid along a route linking Moscow to Beijing through Yakutia, Irkutsk, Khabarovsk, and Vladivostok, according to Russian major media outlets. Russia and China had agreed to build the railway in October 2014. Measuring about 7,000 kilometers, the railway will become the world’s longest high-speed [...]

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

Tavan Tolgoi tender negotiation begins as scheduled

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By B.MENDBAYAR The first negotiation meeting to establish a strategic investment agreement between the Mongolian government and the three-party consortium selected as strategic investor to cooperate on operating the Tavan Tolgoi deposit started as scheduled, on January 5. The selection of the three-party consortium of China Shenhua Energy Co Ltd of China, Sumitomo Corporation of [...]

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

Tavan Tolgoi tender negotiation to begin today

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By B.MENDBAYAR The negotiation to establish a strategic investment agreement between the Mongolian government and the three-party consortium of China Shenhua Energy Co Ltd of China, Sumitomo Corporation of Japan, and Energy Resource LLC of Mongolia will begin on January 5. The Tavan Tolgoi tender working group had a meeting with representatives from the three-party [...]

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

Strategic investors for Tavan Tolgoi deposit selected

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By B.MENDBAYAR The three-party consortium of China Shenhua Energy Co Ltd of China, Sumitomo Corporation of Japan, and Energy Resource LLC of Mongolia was announced as the winner of the the tendering to elect investors to cooperate on operating the Tavan Tolgoi deposit, on December 22. Full operation of the Tavan Tolgoi deposit will be [...]

December 24th, 2014 | Posted in Business & Economics | Read More »

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