Last fall, Oyu Tolgoi project IA was signed by the Mongolian Government and Oyu Tolgoi investors (IMMI and Rio Tinto International Holdings Limited). Singing parties were talking about unlocking the biggest ever Mongolian mining opportunity. But, Oyu Tolgoi feasibility study was rejected by the Technical Meeting of the Mineral Wealth Professional Committee. The Committee concludes […]
MRA handed an official notice to Western Prospector Group. Western Prospector Group has started negotiation on possibilities of selling its 75% of total equity to Nuclear Energy Agency of China with 31 million US$.
Press Release No. 09/64 March 6, 2009 Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), issued the following statement on Mongolia today: “An IMF staff mission and the Mongolian authorities today reached agreement, subject to approval by the IMF Executive Board, on an economic program supported by Fund resources (of US$224 million) […]
During World Economy Forum at Davos, Switzerland, President Enkhbayar met with the Russian Prime Minister Putin. Mr. S.Batbold, Minister for Foreign Affairs and Trade, Mr. D.Tsogtbaatar, Secretary of the State and Mr. L.Orgil, adviser in charge of foreign affairs, were attended the meeting. President stated the importance of improving economy effectiveness and opportunity to cooperate […]
President N.Enkhbayar is attending economy forum in Davos, Switzerland. After his landing at Zurich, President Enkhbayar met with Mr. Kim, President of Hyundai and Mr. Kim expressed his willingness to expand its business and investment in Mongolia. Also we met with His Highness Duke Hans Adams II, Liechtenstein. Duke Hans Adams exchanged his interest in […]
Right at the moment, an unscheduled Cabinet Meeting is being held to discuss the Oyu Tolgoi and Tavan Tolgoi investment agreements. Minister D.Zorigt informed us about the recent developments and outcomes of the meeting. Q: What is the situation now? D.Zorigt: The issue is not yet concluded. It was presented to the Cabinet Members and […]
According to the given timeframe, the Cabinet Meeting is discussing the issue of “two tolgois”. Minister D.Zorigt presents negotiation making procedure, and its recent developments. After Cabinet Meeting discussion, Standing Committees will discuss the issue. The Cabinet Meeting is closed to media. We will come up with more details soon.
During the last Friday session of the State Great Khural, meat reserve issue and amendment of the Law on Mongolia Development Fund was discussed. In order to improve meat supply, eliminate many broker levels between herders and consumers and prevent price increase, 37.5 billion MNT is planned to allocate for preparing 15,000 tons of meat […]
Shortly after his appointment as the President of Mongol Bank, Mr. L.Purevdorj answered some questions from the media. Q: What will be your first goal? L.Purevdorj: I will begin with the regular duty of the President. I am not the President yet. I haven’t met with or learned from the staff of experts and professionals […]
Official statistics says that there are over 140 thousand state and government officials in Mongolia. About 20% of them including the President, MPs, Cabinet Ministers, Deputy Ministers, Governors of all levels and state owned entities, are political positions. Therefore, they are not to surrender their party membership. However, the remaining 80% will have to make […]