His Excellency, The President of Mongolia, Elbegdorj Tsakhia, yesterday opened trading on London Stock Exchange in a Market Open Ceremony. He was welcomed by Xavier Rolet, CEO of London Stock Exchange Group (LSEG). The Market Open Ceremony was held to mark the start of the 2012 Mongolia- London Business Forum, a one day conference organised […]
Category: Business
Mongolian business
Mongolia: Growing pains for agriculture
Although Mongolia’s agriculture sector is feeling the benefits of new management approaches and seeing intensified production thanks to technological advances, it is still struggling to overcome issues created by under-investment and a transition from a planned to a market economy. In mid-June T. Badamjunai, the minister of food, agriculture and light industry, told the cabinet […]
Mongolia President Sets 2012 Deadline for Picking Tavantolgoi Partners
Mongolia President Tsakhia Elbegdorj set an end-of-year deadline to select companies to develop part of its biggest coal field, seeking to resolve a year-long battle for the resource between groups from five nations. Peabody Energy Corp. (BTU) (BTU), OAO Russian Railways, and China’s Shenhua Group are among companies affected by stalled talks to develop the […]
World Bank urges tightening the monetary policy
World Bank informed that the Mongolian economy growth is 16.7% as of the first quarter 2012. But inflation rate is 16% by April 2012, due to the cash distribution from the Government, instability in the world economy and drop in the Chinese export size. Therefore, World Bank urges the Mongolian policymakers to follow stricter monetary […]
U.S. Deputy Secretary of Energy Daniel Poneman: Mongolia never raised the issue on nuclear waste disposal from USA
Recently, due to the election competition between opposing parties and candidates, D.Zorigt, Minister for Energy, was blamed by Mr. Enkhbat, former chairman of the Nuclear Energy Agency, for initiating the issue of storing nuclear waste in Mongolia. This was cleared by the U.S. Deputy Secretary of Energy Daniel Poneman. Q: During your last visit to […]
Prophecy Coal consolidates Mongolian coal resource
Toronto-listed Prophecy Coal on Monday said it would expand its coal resources in Mongolia by acquiring certain assets next to its Chandgana licences from privately held Tethys Mining. CEO John Lee said consolidating the coal basin of about 300 km2 offered greater economies of scale to potentially produce low-cost electricity at the proposed 600 MW […]
Mongolia and China to promote bilateral economic cooperation
China-Mongolia economic and trade conference opened in China on Friday to promote bilateral economic cooperation. The event, jointly organized by the Mongolian National Chamber of Commerce and Industry and China Inner Mongolia International Trade Promotion Association was aimed at providing a platform for cooperation between Chinese and Mongolian enterprises. Present at the gathering were representatives […]
Erdenes Tavantolgoi IPO could raise $10.6 billion
Erdenes Tavan Tolgoi, the Mongolian state-owned coal miner proposing an initial public offering, may be worth as much as $10.6 billion, according to Frontier Securities. The value of the each Erdenes share is 933 tugrik (70.8 cents), Frontier said in a e-mailed report, citing a May 30 statement on the government’s website. Frontier calculated the […]
Mongolia: Setting the tone for investment
Concerns that a new foreign investment law would severely impact Mongolia’s natural resource sector and economy as a whole are beginning to ease, as industry players now see that reformed legislation is necessary for the country’s economic evolution. Reports in early May that the Mongolian government was planning to enact wide-ranging limits on foreign ownership […]
Mongolia tops the charts in risky frontier markets
Frontier markets do not often work better for investors than Mongolia has over the last two years. Its stock market clocked up the best returns in the world in 2010 when share prices climbed 121 per cent and it was the second-best performing bourse last year with a rise of 73 per cent. Aside from […]