The Mongolian Mining Journal

Foreign trade turnover up in H1, surplus down Foreign trade turnover reached $6.3 billion at the half-year mark, according to the National Statistics Office, with exports of $3.6 billion and imports of $2.7 billion. The three figures show a 26%, 15.3% and 43.4% YoY increase respectively. Foreign trade surplus fell 30.4% YoY to stand at $822.2 million.

Better to earn profits, than being mega for the sake of it The spring session of Parliament ended on a high note of hope, as on the closing day it approved the resolution to begin work on putting Tavan Tolgoi (TT) into economic circulation, thus giving the Government the formal green signal to realise a long-cherished dream.

If licences are revoked, Centerra will seek huge compensation through arbitration On 7 June, the court trying the case between Save Noyon Mountain NGO and the Cadastral Section of Mineral Resources and Petroleum Authority of Mongolia (MRPAM) finally gave its ruling in favour of the NGO, after no fewer than 36 suspensions of hearing over some two years.

Zoovch-Ovoo to start trial uranium mining in October A pilot production programme at the Zoovch-Ovoo uranium deposit at Zuunbayan Bag, Dornogovi aimag will begin in October 2018, according to Terry Pleasant, Executive Director of Badrakh Energy, the name under which Areva Mines has been operating since January 2018.

113 projects make it to national programme list E.Odjargal finds out from B.Bayarsaikhan, head of the National Development Agency, how projects are selected for inclusion in the national investment programme and the strategic goals of the “Three pillar development policy”.

Be anti-mining, win votes Khuvsgul is now officially a non-mining aimag, following a decision taken by the 7th Citizens’ Representative Khural (CRK) on April 20 to bring the area south of the 50th latitude under special local protection. Earlier, in 2009 the Khural had kept apart the area north of that latitude for the aimag’s special needs for a period of 5 years, a period that was extended by 25 years in 2014.

Hasu Megawatt: a pioneer company growing bigger, better, and stronger Hasu Megawatt LLC is one of the Mongolian companies that are growing together with the Oyu Tolgoi project, bringing in international expertise, cutting edge technology and sophisticated know-how, and thus preparing a new generation of high-skill local professionals for the mineral sector.

Madness As we near the halfway mark of the year, the commodity market continues to be good, bringing hope that the country’s economy will soon be restored to health.

World Bank to Join the Mongolia Economic Forum Ulaanbaatar, Mongolia, May 17, 2018—Christine Zhenwei Qiang, PhD, Practice Manager for the Global Investment and Competition Unit of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice, will attend the Mongolia Economic Forum (MEF) in Ulaanbaatar on May 21 and 22.

Bilateral ties through Russian envoy’s eyes The Russia-Mongolia intergovernmental commission recently held its 21st meeting, where important issues were raised, as between two old friends, and important decisions taken, as would take the partnership forward in challenging times. E.Odjargal talks to long-time Russian Ambassador to Mongolia.

Coal export rises in March after big dip The 7.9 million tonnes of coal exported in the first quarter was 2.62% less than in the corresponding period last year, but things have begun to look up as exports for March, the last month in that quarter, showed an increase of 7.8% YoY.

“Easy for ETT to raise funds on its own, but it is too early for an IPO” A mega project cannot be developed without mega investment, so where is the money going to come from if Mongolia is to present Tavan Tolgoi as one of the major mineral deposits of the world?

Fate of TT power plant hinges on RIO TINTO decision How Oyu Tolgoi LLC decides to source the electricity to meet the needs of its mine will also decide the fate of the Tavan Tolgoi power plant, a proposed mega project that would meet the power needs of both industrial and domestic users across a large swathe of the country.

Big fall in trade surplus, coal main culprit According to data revealed by the National Statistics Office, Mongolia’s exports in the first two months of 2018 were valued at $838.4 million, while imports stood at $726 million, taking total trade turnover to $1.6 billion, which is 18.9% or $248.1 million more than the corresponding figure in the previous year.

United, Mongolia would compete divided, it falls Prime Minister U.Khurelsukh, who is to pay an official visit to China on 10-13 April, will be followed there by President Kh.Battulga in June, the dates yet to be decided.

Gold-2: Good ideas poorly implemented G.Iderkhangai finds out from E.Enkhbat, Executive Director of the Gold Producers’ Association, why the sector thinks the Gold-2 programme is good on paper but poor in execution.

Call for “win-win partnership” douses tensions, for now Not many were convinced that the brief, and somewhat sudden, visit to Mongolia by Rio Tinto CEO Jean-Sebastien Jacques was solely or really to inaugurate on 22 January the company’s new office in Mongolia, separate from Oyu Tolgoi LLC. Such events do not usually warrant the presence of the chief executive of a global giant.

“We need a state policy built on national consensus” When P.Ochirbat, the country’s first President, academician and mining engineer, speaks, Mongolia listens. In a wide-ranging conversation with G.Iderkhangai, he speaks about issues in the mining sector.

Gold sector needs both State support and self-support Some long-awaited amendments to the Mineral Law on 24 January, 2014 finally brought cheer to the gold sector. Royalty rates were reduced to 2.5 percent, the system of progressive royalties was withdrawn, and Mongolbank was made responsible for refining and exporting all gold mined in Mongolia.

Mega wait for mega projects could end in 2018 Mongolians are happy to endlessly talk about their successes, and to rest on them. Thus it is no surprise that they are still full of how good 2017 was for the mining industry and exports revenue.