Recent news
Trends in Commodity Prices
We are currently in an era of extreme volatility in terms of commodities, where we can experience the swiftest growth in value, and one of the sharp drops, all within a few weeks of one another (Australian Mining August 2016).
How are our coal exporters doing as prices and sales rise?
According to the National Statistical Office Mongolia exported 16.24 mln tons of coal in the first 9 months of 2016, which is 6 mln tons or 55% more than in the corresponding period last year. Similarly export revenue has increased by 18% to reach $509.8 mln.
“When we invest we invest for a long term”
Earlier this month, Jean Sebastien Jacques, who took over as CEO of Rio Tinto not so long ago brought the entire board of the mining giant to Mongolia for a trip to the Oyu Tolgoi site. He and the Rio Chairman also met with the Prime Minister to discuss various issues related to the OT project. S.Bold-Erdene of the MMJ was among the Mongolian journalists who spoke to him. This is a fair but not literal transcript of the conversation.
Interview with Battuya Jalbasuren, Managing Partner, Chinggis Law LLP
My name is Battuya Jalbasuren. I am a Managing Partner of Chinggis Law LLP. We’re lawyers and attorneys who provide legal consulting services and advocacies specializing in mining, commercial and corporate areas of law. My partner Batbayar Enkhee is an attorney with extensive experience in administrative and criminal law practices
Action plan must mean action, not just plan
Recently the government’s action plan for 2016-2020 was approved by the Parliament. The government will now prepare a comprehensive plan to implement the action plan, and get this approved at a government meeting. The actual implementation will begin only then. The action plan lists the five main directions where the government intends to be most active.
How Russia sees Mongolia as gateway to the southern seas
Last June, Russia celebrated the 125th anniversary of the longest rail line in the world. It was indeed an event to celebrate, as 70 per cent of the country’s rail freight is carried along these tracks through the Siberian landscape, an area with a huge amount of natural resources.
20th anniversary greeting
In the 20 years since my father and I visited Mongolia and decided to establish the Caterpillar Inc. Dealership for the country much has changed, but interestingly much has stayed the same.
Mongolian members of the Oyu Tolgoi board appointed
Three members of Mongolia at the Board of Oyu Tolgoi LLC were designated. B. Munkhbaatar, CEO of Erdenes Oyu Tolgoi, N. Bagabandi, former President of Mongolia and pioneer member of Oyu Tolgoi board, and Ch. Altannar are appointed newly as a member of the Oyu Tolgoi board.
The story of the 49% stake
The news of the unexpected sale by the Russian State-owned company Rostec to an almost unknown Mongolian company of its 49 per cent ownership in two iconic joint ventures, Erdenet Mining Corporation and Mongolrostsvetmet, took everybody by surprise. No one knows for sure why the deal was done, but E. Odjargal shows how the period of Rostec’s involvement was marked by tension, open or hidden.
Welcome ‘Standby’
In 2010-2011, Mongolian economy had been hungry for investment. At that time we were excited about mega projects like Tavantolgoi, railway project, Sainshand industrial complex, all together were estimated for MNT17 trillion and we were hoping to raise money by issuing international bond and get loan as fast as we could.
The new Government’s mining goals
The Mongolian People’s Party (MPP) now has 65 seats in the Parliament, against the Democratic Party’s (DP) 9, and the Mongolian People’s Revolutionary Party’s (MPRP) one. The last seat is held by an independent. This overwhelming majority gives the MPP a free hand in running the country in the next four years. So what is the action plan it wishes to implement?
Focusing nearer home
As part of the GIZ’s Integrated Mineral Resources Initiative program, MMJ journalists have for some time now been working on preparing a simplified version of the Extractive Industries Transparency Initiative (EITI) reports on four selected aimags, to make them more interesting and easier of access.
“Using professional valuers will increase deposit worth”
Mongolian mining sector, there are several issues to be paid attention such as creation of new legal environment, improvement to the existing methodologies of mineral deposit valuation, training of professional valuers. Regarding these issues, we have talked with mineral economist, doctor and professor D.Galsandorj.
