Mongolia Business and Mongolian Daily Business News

S.Oyun, Minister of Foreign Affairs has just arrived the country finishing her official visit to China. In framework of the visit, China reacted positively towards the issues related to appointing Honorary Consuls in Zhenjiang, Uyghur and Macau as well as consulate representative of Mongolia in Shanghai. The Minister notes that this is because our citizens increasingly travel, study and work overseas, namely in China. During the visit of the Foreign Affairs Minister to Inner Mongolia, scholarships provided to 100 students are to be provided to 500 students. In the course of her official visit to China, S.Oyun visited the Deputy Chairman of China, members of Chinese State Council, negotiated with Chinese Foreign Affairs Minister and visited Chinese Diplomats Academy. Read the rest of this entry »

One of the drafter of information freedom law is S.Batbold, Member of the Parliament. We got some clarification from him about the law, who is willing to defend right and duty of the press by law.

Could this law be more open toward the right of journalists?

I want to say intentionally that information is not property of officers. With more open information right, there will be much more people’s comments and criticism toward government organizations and there will be more chance to use them properly and make right decision. Four of us, the members of parliament, firstly drafted the law in order to protect right to acquire information to journalists and distribute truth to people without any blocks. All know that not only people, even journalists can’t enter to any organizations arbitrarily and can’t acquire any information freely. Read the rest of this entry »

Foreign minister S.Oyun went to PRC on Monday and made four days visit. During the visit, she saw with Si Jinpin, vice president of PRC, and Dan Binguo, Government council member of PRC, and discussed with foreign minister of PRC and visited to Diplomatic academy and Railroad department.

During the meeting and discussion, they made assessment and summary to two sides relationship and about keeping frequency of high level visits and meetings, joint celebration for 60 years of establishment of two countries diplomatic relations and 15 years for agreement of friendly relations and cooperation, and consolidation of two countries foreign ministries and other broad range of issues like culture, education and defense, and exchanged opinions about international and regional issues. Read the rest of this entry »

From 30th of this month, Mongolian Airlines transferred to summer flight schedule. Now the company has three planes for international flight, after leasing “Boeing 737-800W”. By adding a plane, there are some changes of number and frequency in the flight of the Mongolian Airlines. Notably it’s planning to fly to Beijing and Seoul for 1-3 times in coming July and August. Also it has planned to fly to Berlin from mid of June by renewed schedule, bypassing Moscow on Thursday and Sunday, and directly on Tuesday and Friday. In another words, Mongolian Airlines have four times flight to European direction. And in the summer session which has increased number of tourists, it will fly for three times to Tokyo, and two times to each of Osaka and Nagoya cities. by the same token, also it will fly “Boeing 737-800″ plane to Russian city of Erkhuu in July and August. “Boeing 737-800W”, the new leasing plane with 189 passenger seat, will land on Chinggis Khaan international airport in 17-th of next month.

96 per cent of the Tavantolgoi coal deposit is transferred to government, and “Energy Resource” left with four per cent which is equal to a license. Civil movements made joint information on this issue. They have position that Tavantolgoi must be transferred to government wholly. They think it’s unjust that they are staying with best deposit of Tavantolgoi, since “Energy Resource” got the license illegally. D.Enkhbat, executive council member of “Radical Reform, said that “it’s false that “Energy resource” got four per cent. More than four per cent of Tavantolgoi must be in Ukhaa khudag. We clarified it from him.

You said that Tavantolgoi license was transferred to “Energy Resource” by illegal way. Please clarify it?

Firstly “Mine info” got field research license. Secret boss is B.Jargalsaikhan. In 2006, six field research licenses were changed to using license. Read the rest of this entry »

And research is undertaken what to do with remaining parts

Issues related to Tavantolgoi have been decided after being discussed for several times but draft law of amendments to the minerals law got stuck. Anyways, social movements and those who are interested in nomination to the coming election give high importance to it, holding press conferences, blaming some people whilst the amendment issue has not been decided yet. According to the negotiation between the Government and Energy Resource, 93.6 percent of Tavantolgoi is transferred to state and remaining 4 percent is to the company holding the licenses. Some companies, holding remaining percent of the deposit might be in a condition to negotiate with the state like Energy Resource, getting little of the deposit. The Government suggested the Ministry of Industry and Commerce to formulate proposals on how to solve issues related to local and foreign companies. Read the rest of this entry »

I am addressing this letter to you who consider the Mongolian society and support true culture in Mongolia.

hEREE.G LLC organized the very first “A Grand Evening of Piano” in 2007 and sponsored by itself. At this year, I, on behalf of the pianists, am inviting you, dear piano lover, to join with us organizing this evening as the top classical evening in the cultural calendar of Mongolia. It will reach audience of 500, the most elevated and intellectual part of the Mongolian society.

“A Grand Evening of Piano” is the annual event and last year, Ms Oyungerel, finalist of the top pianists’ contest, in the name of famous pianist and composer Gonchigsumlaa, performed with support and accord of Mr. Bekhbat, the most eminent cellist of Mongolia.
In this year’s Grand Evening, Ms Tsolmon, the most eminent pianist, Ms Oyungerel and Ms Munguntsetseg, soprano are going to perform classical works of Rachmaninoff. Read the rest of this entry »

We are speechless if Russia brings out the issue of Asgat during the visit of PM to Russia

We got views of Mr. Kh.Narankhuu, Minister of Industry and Commerce.

Prime Minister noted that Tavantolgoi would be taken into state ownership 100 percent. As a result of negotiation, 4 percent was left to Energy Recourses.

It was difficult to directly take the licenses from Energy Resources, which acquired licenses and invested according to laws of that time. It was necessary to be flexible towards the issue. Tavantolgoi has great resources of 6.4 billion. According to latest estimation its resource reached over 7 billion. Resource of cocking coal can be found in the midst of the site. There are 2 or 3 sites that have guesstimated resource outside the core. One of them is Ukhaa khudag left to Energy Resources. The part, which is cocked 10 times expensive than ordinary coal, has been transferred 100 percent to state ownership. Read the rest of this entry »

With relevance to draft law on amendments to minerals law, we got views of Mr. Donald Kerry, Staff of C-consultancy LLC of the United States who came for research in mining sector of Mongolia at the request of Barrick Gold Corporation, one of mining giants in the world.

You’ve mentioned that you undertake research in mining sector of Mongolia. Could please give us some detail on it?

It is good that world companies are interested in investing in Mongolian mining sector. One of them is the Barrick Gold operation in your country. I’ve just happened on the time to make amendments to the minerals law. We are studying Mongolia’s legal environment. As for me, I carry out researches only. Read the rest of this entry »

Some parliamentarians boasted, “It is not so high tax rate. It should have been 80 percent and it is rather low. Miners should not have to worry about.”  

Starting from the previous year, Mongolia began to implement Windfall tax law. Thanks to taxations, state budget tends to exceed 2 trillion MNT. As assumed by politicians, copper price in the world market will be USD 6800, generating MNT 309.5 billion to state budget from Erdenet enterprise. Gold price is increased up to USD 590 and 20 tonne gold is to be mined of which gold to be obtained by Boroo gold company is excluded. MNT 53.8 billion is to be generated from windfall tax to be imposed on remaining 13 tonne gold to the state budget. Read the rest of this entry »