Mongolia Business and Mongolian Daily Business News

Last Friday, 571,098 shares of 19 companies were sold at MSE, totaling sales of ₮411,235,647. TOP 20 Index has gained 4,8%, reaching 8507,89 points. It has been gaining since the New Year.
APU share gained 15%, reached ₮1150. But Genco Tour Bureau slumped by 2.5%, ₮120. Most sold shares were Khukh Gan, Naco Fuel and Shivee Ovoo.

18.2 thousand shares of 15 JSCs were sold at MSE totalling 12.3 million MNT trade. 107 Remicon shares were sold at the Primary market totalling 10.7 thousand MNT. 7.9 thousand shares of APU JSC were sold and it was the most actively traded share in the stock market. In comparison to the previous day’s trade, share prices of APU and Shivee ovoo JSCs were increased by 15.0%, share price of Talkh chikher JSC was decreased by 5.88%, share price of Makh impex by 5.56% but share prices of Gobi and Tavan tolgoi JSCs were unchanged at MSE. Read the rest of this entry »

200.4 thousand shares of 15 SHCs were sold at MSE, October 15 2008, totaling 76 million MNT. At the primary market, 32.8 thousand Remicon shares were sold and Khukh Gan share was the most active at the secondary market, sold 67.3 thousand shares.
In comparison to the previous day’s trade, Hermes Center share price was increased by 11.48% and Shivee Ovoo share by 9.02%. But Zoos Goyol share  was dropped by 4%.

D.Zorigt, Minister of Minerals and Energy summoned pressing meeting for the 3rd day of his office and got acquainted with winter preparation of the sector. Winter preparation is completed 80 percent, but in some areas it is 40 percent. Specific directions and suggestions were provided to areas with difficulties. It was suggested to complete major overhauls, technical arrangements, investments and winter preparations on scheduled time. Also coal lay in is to be increased and 20-day stock up for peak pressure in winter is to be prepared as well. Power plants have 11-12 day coal resources and 7-day coal resources in winter so far but the plants are urged to pay payables to mines such as Shivee Ovoo and Baganuur. Read the rest of this entry »

Prime Minister S.Bayar visited Beijing on the 23^rd of August to hold meetings with Chinese state leaders and attend the XXIX Summer Olympic closing ceremony. He held meetings with Wen Jiabao, Premier of State Council of the People’s Republic of China and Xi Jinping, Vice-Presdient of China on the 23^rd and 24^th of August and attended the dinner hosted by Hu Jintao, President of China respecting foreign state heads and leaders to take parts in the Olympic closing ceremony. Wen Jiabao, Xi Jinping and Hu Jintao expressed gratitude to the Government and people of Mongolia for the encouragement for Beijing 2008 Olympics and congratulated on successful participation of Mongolian sportsmen in the Olympics.

During these meetings, present state and future perspectives of bilateral cooperation and relations issues were addressed. S.Bayar brought up the issues related to accelerating projects on importing petroleum products from China, processing crude oil, which is to be imported from the third country, namely Kazakhstan, in China, getting end products, building large-scale thermal plant on the basis of Shivee Ovoo coal mine and exporting electricity and called for attention on getting results on these matters. Read the rest of this entry »

Base structure for railways is to be built

It is considered that it was proper to grant the permission to Mongol Alt LLC to build railway base structure from coal mine in Nariin Sukhait in Gurvan tes soum, Umnugobi province to the border port Shivee Huren. It directs R.Rash, Minister for Road, Transport and Tourism to conclude agreements related to the construction of railways and to inspect its realization and implementation. Investment matters related to the construction and use shall be taken care by the company and not less than 51 percent of the constructions shall be transferred to state in ten years since the use of the railways and at the reimbursement of expenses.

Briefly:

•It is considered that it would be proper to conclude a memorandum on mutual understanding between the Government of Mongolia and the Government of the Principality of Monaco to collaborate in cultural sector.

•Got acquainted with the project on constructing coal mine and electric power plant complex on the basis of Shivee Ovoo coal deposit and exporting electricity to China.

Press and Information Department of the Government of Mongolia

As for the week between August 11 – August 15 2008, 1.2 million stocks of 44 SHCs were sold at 283.7 million MNT. 10.3 thousand stocks of Remicon SHC were sold at 1.0 million MNT at the first market trading of the Mongolian Stock Exchange. Read the rest of this entry »

On current state, recent pitfalls, measures of solution on oil products

Dear Speaker and
Dear Parliamentarians,

Recently oil price went up dramatically at the world market.
As of January 2007, price of 1 barrel oil at NYSE was USD 52.84 whilst as of yesterday it reached USD 113.4, going up by USD 60.56. It results increase in domestic gas price and export tariff of Russia which supplies over 90 percent of our oil product consumption. The reason for increase in gas price in Mongolia is the increase of border price of oil products imported by Russia to Mongolia by USD 69-104 per ton on December 2007 and by USD 60-131 on April 2008.

With reference to continuous increase of price at the international market, Government of Mongolia has been requesting Russian side to sell oil products at discount rate to Mongolia.
On January 30, 2008 authorities of Rosnefti, a Russian company notified it was possible to accept Mongolia’s request, however with purposes of recovering the loss of Rosnefti company particularly, it was essential to run oil production in Mongolia, especially by building 100 gas stations in Ulaanbaatar and Darkhan as well as along the Millennium Road. Read the rest of this entry »

Fuel and Energy Minister Ch.Khurelbaatar met Kh.Nurbaev, Extraordinary and Plenipotentiary Ambassador of Kazakhstan to Mongolia, and talked about energy sectors cooperation of two countries. Ambassador was graceful for implementation of bigger projects and programs that will bring growth to Mongolian energy sector and expressed that Kazakhstan have interest to invest and cooperate in the energy sector. Minister of Fuel and Energy introduced him bigger projects that will implement in his sector like power station which will leaned on Shivee-Ovoo mine and Power Station-5 planning to build in the east side of capital city and informed that he is ready to cooperate with Kazakhstan.

Yesterday Minerals and Oil Authority held an open day event, informing on activities performed in sophisticating legal environment for minerals, maintaining petroleum price constant, regulating artisanal miners and deposit ownership of which exploration has been conducted by state budget in framework of 100 days of Government activities. Staff of MPA received applications from people who requested special permission for mining and exploration and explained related laws and acts. MPA attached close attention on maintaining retail gas price at current level in order to counteract price boost in the domestic market resulted by increasing import price of petroleum products. Read the rest of this entry »