Daily Business News Mongolia

Soros Foundation releases Mongolian mining, exploration license statistics

www.mineweb.com writes that,

Author: Dorothy Kosich

Local companies have a distinct advantage in acquiring exploration licenses in Mongolia a survey by a Soros Foundation subsidiary has determined in a recent report.

The Soros Foundation’s Open Society Forum reported Thursday that exploration and mining licenses now cover 28% or 43.81 million hectares of the land in Mongolia.

Of the 4,644 mining licenses that were considered valid of as May 9, 2008, 22.8 percent or 1,060 are for mining while the remaining 3,584 are for exploration.

Out of the 43.8 million hectares of land now under all licenses, 43.4 million belong to exploration licenses. (more…)

Posted in Business, Economy, Mining | No Comments »

Polo Resources says Ereen Mine to enter production Oct, road ahead of schedule

Thomson Financial reports that,

LONDON (Thomson Financial) - Polo Resources Ltd. said on Tuesday its Ereen open pit mine is due to come onto production in October and the construction of the new road from the mine to the Erdenet rail loading facility in northern Mongolia, is ahead of schedule.

Production at Ereen is expected at the rate of around 100,000 tonnes per month, while the 32-kilometre main haulage road is 30 percent complete and is being constructed to an all-weather standard.

‘Sale prices for this coal are high and will allow Polo to make significant returns on the small capex investment it has made,’ Polo resources said. (more…)

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Mongolian artists showcase native crafts

www.middletownjournal.com writes that,

By Eric Robinette
Staff Writer

Local residents will get a closer look at Middfest International’s featured country of Mongolia and how art in that country felt.

Mongolia is one of the leading feltmakers in the world, and two native artists will show off their craft over the weekend. Tuul Sanjdorj and Naraa Sambun will demonstrate the art of feltmaking from 10 a.m. to noon Friday, Aug. 1, at the Middletown Arts Center at 130 N. Verity Parkway and from 6 to 9 p.m. at the Mongolian Grill in Mason, at 8655 Mason-Montgomery Road, also on Friday.

“This is the kind of pre-event activity that Middfest does to educate the public on the featured country,” said Christina Papakirk, the publicists for Middfest. (more…)

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Uzma close to finalising talks on drilling contract

www.thestar.com.my reports that,

KUALA LUMPUR: Oil and gas services provider Uzma Bhd hopes to conclude talks with a Mongolia-based company on an exploration and drilling contract by year-end, said managing director and chief executive officer Datuk Kamarul Redzuan Muhamed.

”We cannot disclose the value of the contract for the time being. Discussions are currently at the advanced stage with details of the contract being finalised. We hope to conclude talks by year-end,” he said at the company’s listing on the Bursa Malaysia second board yesterday.

Uzma opened 20 sen below its offer price of RM1.90. (more…)

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Bone fragments collected from mortuary

theborneopost.com writes that,

KUALA LUMPUR: The bone fragments of Mongolian model Altantuya Shaariibuu were collected from the Kuala Lumpur General Hospital mortuary yesterday by the honorary consul of Mongolia in Malaysia, Datuk Syed Abdul Rahman Al Habshi and Oyu Vasha, the second secretary to the Embassy of Mongolia in Thailand.

Both arrived at the mortuary at 3.45 pm yesterday and left 40 minutes later empty handed. They returned at 5.25 pm and half an hour later emerged from the mortuary’s office with Vasha carrying a small cardboard box in her hands, which is believed to contain Altantuya’s bone fragments.

Syed Abdul Rahman said they were unable to claim the remains earlier as they had not been able to obtain Altantuya’s death certificate. (more…)

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Mongolia’s ex-herders struggle for survival in the city

alertnet.org writes that,

Written by: Amanda George

A small, hungry cat is tied up next to the door of this family’s ger. It meows incessantly and seems eager to be free as it strains at the cord around its neck. Animals often reflect their owners.

The family who live in this small ger in a slum on the edge of Ulaanbaatar were forced away from their nomadic herding lifestyle to the capital in 2005 when all of their 500 livestock were killed in a “black dzud”, the Mongolian term for a snowless period of extreme cold, with temperatures dropping to minus 50 degree Celcius.

They have no skills other than herding, useless in the city. So both parents are unemployed, and are forced to rummage though the rubbish for recyclable bits and pieces as their only source of income. (more…)

Posted in Economy, Lifestyle | No Comments »

Official says Mongolia expects 2 medals from Beijing Olympics

Xinhua reports that,

17:01, July 29, 2008

The goal of the Mongolian athletes are to get at least two medals from Beijing Olympic Games and would strive for gold medal, a senior sports official told Xinhua Tuesday.

“This is one dream of the Mongolian people,” said Choijgavaa Naranbaatar, chairman of the Mongolian State Committee of Physical Culture and Sports.

“I love Chinese athlete Liu Xiang, who broke the rule of European and American athletes in track and field. I hope he can do well at the Beijing Olympic Games,” said the senior Mongolian sports official who was ever an athlete of track and field before. (more…)

Posted in News, Sport and Culture | 2 Comments »

Genghis Khan Gets Nice-Guy Makeover in `Mongol’: Rick Warner

Bloomberg reports that,

Review by Rick Warner

July 29 (Bloomberg) — Genghis Khan never looked so good.

The feared ruler whose name is synonymous with savagery gets a radical makeover in “Mongol,” a breathtaking adventure epic about the formative years of the man who created the largest empire in history.

Sergei Bodrov’s film portrays Khan, born as Temujin in 1162, as a courageous, beneficent warrior who protected women and children, loved his family and even spared one of his worst enemies. While not exactly Mister Rogers, the Khan we see is a far cry from the conqueror widely regarded as a ruthless mass murderer.

The lack of contemporary accounts has led to much speculation and contradictory versions of Khan’s life. But his PR agent would surely be delighted with “Mongol,” which covers the period leading up to his consolidation of the warring Mongol tribes and his crowning as Genghis Khan (universal ruler) in 1206. (more…)

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Two parties unite on modification of the Constitution

With reference to arose conditions, MPRP and DP formed a task group. The task group held a meeting yesterday for the second time. At the first meeting, the two parties exchanged views and at the following meeting the two reached on consensus on particular issues. MPRP and DP agreed that the Constitution must be modified. However DP admits that modifications made in 2000 should be nullified but MPRP do not agree with it and says to amend the Constitution directly. They agree that Law on Administrative units and their management, law on Parliament and local elections and Law on Political parties should be amended at the modification of the Constitution as well. Also they defined legislations and decrees to be ratified by the new Parliament. Minerals Law, Law on Grant of the Motherland and Law on Treasure Share will be passed and Sub-committee of Election and registration will be established under State organization standing Committee. (more…)

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August is to be showered with guests

Summertime is the season of visitors, travelers and foreign officials. We assume that a half million visitors would come to Mongolia this summer and high-ranking guests also visit Mongolia at this time. As for this year, Kuwaiti Emir is the first one of those guests. It’s likely he came to Mongolia to enjoy vacation, not at the invitation of the President. He had not met any politicians and state figures, even he came several days ago. It is said that he would meet the president and the Prime Minister at the beginning of next month. August tends to be showered by foreign visitors. H.E. Stjepan Mesic, President of Croatia is to visit Mongolia on the 2^nd of August, and H.E. N.A.Nazarbayev, President of Kazakhstan is to visit us as well.

New Zealand Governor is to visit us during mid-August and at the end of the month Frederik André Henrik Christian, Crown Prince of Denmark and Prince Albert of Monaco are visiting. After school starts Horst Koehler, President of Germany is to visit Mongolia to attend regular session of the Mongolia-Germany Forum. Prime Minister of Luxembourg is to visit Mongolia at the end of fall, Turkish and Slovak Foreign Ministers are coming on September.

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