tag:blogger.com,1999:blog-24064067786346155642024-02-26T03:19:43.740+08:00MonInfoMonInfo is aggregator of all Mongolia related news on the internet.It collects and archives all news related to Mongolia.mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.comBlogger3911125tag:blogger.com,1999:blog-2406406778634615564.post-32854317965701478032020-06-22T22:33:00.002+08:002020-06-22T22:33:29.342+08:00Can Mongolia’s elections shun democratic backsliding?<div style="background-color: white; color: #333333; font-family: "Open Sans", Verdana, sans-serif; font-size: 1.1em; margin-bottom: 0.8em; margin-top: 0.2em;">
Authors: Byambajav Dalaibuyan, Mongolian Institute for Innovative Policies and Julian Dierkes, UBC</div>
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On 24 June 2020, Mongolia will hold its eighth parliamentary election since adopting its 1992 democratic constitution. This election is significant at a time when democracy worldwide increasingly appears under threat. It will assess the state of Mongolia’s democracy — which has exhibited signs of weakening — and whether the country can buck a global democratic backsliding trend.</div>
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A total of <a href="https://www.montsame.mn/en/read/227327" rel="noopener noreferrer" style="color: #ca2027; text-decoration-line: none; transition: all 0.05s ease-in 0s;" target="_blank">606 candidates</a>, representing 13 political parties and 4 coalitions as well as 121 independents, will compete in the election. Both the incumbent Mongolian People’s Party (MPP) — which won 65 of 76 seats in 2016 — and the opposition Democratic Party (DP) are running candidates in all 76 election districts.</div>
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The record number of 121 independent candidates is a response to perceptions of failure of the Mongolian party system. <a href="https://thediplomat.com/2019/01/mongolias-crisis-of-democracy-continues/" rel="noopener noreferrer" style="color: #ca2027; text-decoration-line: none; transition: all 0.05s ease-in 0s;" target="_blank">Public trust</a> in the two established political parties and parliament has dropped. Frustration and anger has been building over the incompetence of many members of parliament and their direct involvement in the <a href="https://www.scmp.com/news/asia/east-asia/article/2171965/scandal-mongolia-heads-roll-government-after-us13m-sme-fund" rel="noopener noreferrer" style="color: #ca2027; text-decoration-line: none; transition: all 0.05s ease-in 0s;" target="_blank">embezzlement of state funds</a> in recent years.</div>
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Last November, the MPP-dominated parliament adopted <a href="http://constitutionnet.org/news/mongolias-long-participatory-route-constitutional-reforms" rel="noopener noreferrer" style="color: #ca2027; text-decoration-line: none; transition: all 0.05s ease-in 0s;" target="_blank">amendments</a> to the 1992 constitution intended to strengthen Mongolia’s parliamentary system of government, judicial independence and government stability. The amendments are particularly important as President Khaltmaa Battulga has become increasingly hostile towards parliamentary democracy and judicial independence. The next parliament will need to adopt further laws to fully implement the amendments.</div>
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Five candidates, two from the MPP and three from the DP, <a href="https://www.montsame.mn/en/read/228921" rel="noopener noreferrer" style="color: #ca2027; text-decoration-line: none; transition: all 0.05s ease-in 0s;" target="_blank">have been arrested</a> since the election campaign started. These arrests are politically motivated and target politicians who have been in conflict with either Prime Minister Ukhnaa Khurelsukh or President Battulga. The General Election Committee has not reacted to these violations of candidates’ rights.</div>
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For more, go to following links.</div>
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<a href="https://www.eastasiaforum.org/2020/06/22/can-mongolias-elections-shun-democratic-backsliding/">https://www.eastasiaforum.org/2020/06/22/can-mongolias-elections-shun-democratic-backsliding/</a></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-74602832595625123862020-06-22T22:31:00.002+08:002020-06-22T22:31:22.433+08:00Alcohol sales to be banned in Mongolia during upcoming parliamentary elections<div style="color: #404040; font-family: Arial; line-height: 26px; margin-left: auto; margin-right: auto; padding: 15px 0px; width: 900px;">
ULAN BATOR, June 22 (Xinhua) -- Sales of all types of alcoholic drinks will be forbidden across Mongolia during the upcoming parliamentary elections, local media reported Monday.</div>
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Mongolia is expected to hold the parliamentary elections on Wednesday.</div>
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There will be a 72-hour ban on the sale of alcohol from Tuesday to Thursday in the capital city of Ulan Bator, which is home to more than half of Mongolia's population of 3.2 million.</div>
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Meanwhile, sales of alcoholic beverages will be prohibited in all 21 provinces of the country on the eve of the elections and polling day, namely Tuesday and Wednesday.</div>
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Mongolia's parliament is unicameral, consisting of 76 lawmakers each serving a four-year term.</div>
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The landlocked Asian country last held parliamentary elections in June 2016. Enditem</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-71778502700094961962020-06-22T22:29:00.002+08:002020-06-22T22:29:35.390+08:00Six parliamentary candidates detained in Mongolia<div style="color: #404040; font-family: Arial; line-height: 26px; margin-left: auto; margin-right: auto; padding: 15px 0px; width: 900px;">
ULAN BATOR, June 20 (Xinhua) -- The Mongolian authorities have recently detained six parliamentary candidates amid the ongoing campaign for the upcoming parliamentary elections, according to local reports.</div>
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Four of the detained politicians are candidates from the country's opposition Democratic Party and the remaining two are independent candidates.</div>
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Among the arrestees are former Finance Minister Sangajav Bayartsogt, and Bayanjargal Byambasaikhan, chairman of the Business Council of Mongolia, who are allegedly implicated in a large mining deal involving foreign investment.</div>
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The sudden decision to detain the parliamentary candidates on the last few days before the legal deadline for the election campaign is an "illegal act" and "politically motivated," said attorneys of the candidates and some Mongolian netizens.</div>
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Mongolia is expected to hold general elections on Wednesday.</div>
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The country's parliament, the State Great Khural, is unicameral, consisting of 76 lawmakers serving a four-year term. Enditem</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-80843064660429644252020-06-22T22:28:00.001+08:002020-06-22T22:28:56.943+08:00China-backed AIIB approves $100 mln loan for Mongolia's virus fight<div style="background-color: white; border: 0px; box-sizing: inherit; font-family: source_sans_prolight, Helvetica, Arial, sans-serif; font-size: 1.2125rem; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; letter-spacing: 0.5px; line-height: 1.4; margin-bottom: 0.9375rem; padding: 0px; vertical-align: baseline;">
<span style="border: 0px; box-sizing: inherit; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">BEIJING, June 19 (Reuters)</span><span style="border: 0px; box-sizing: inherit; font: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"> - </span>The Beijing-backed Asian Infrastructure Investment Bank (AIIB) has approved a loan of $100 million to help Mongolia battle the coronavirus pandemic, the bank said on Friday.</div>
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The project, cofinanced by the Asian Development Bank, will support a government program covering public health funding, protection of vulnerable groups, support for businesses and fiscal stimulus measures, the bank said in a statement.</div>
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The loan is part of the AIIB's $10 billion funding facility to help public and private sectors fight the outbreak.</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-40385600577822755382020-06-04T23:15:00.002+08:002020-06-04T23:15:39.644+08:00IMF Executive Board Approves US$99 Million Disbursement Under the Rapid Financing Instrument to Mongolia to Address the COVID-19 Pandemic<ul class="pr-points" style="background-color: white; color: #2c2825; font-family: MuseoSans-300, Helvetica, Arial, sans-serif; font-size: 16.128px; margin: 1em 0px; padding: 0px 0px 0px 20px;">
<li style="margin-bottom: 10px;">The COVID-19 pandemic has taken a large toll on economic activity in Mongolia, giving rise to urgent budget and balance of payments needs.</li>
<li style="margin-bottom: 10px;">To support Mongolia, the IMF has approved the request for emergency financial assistance under the Rapid Financing Instrument (RFI) of about US$99 million.</li>
<li style="margin-bottom: 10px;">This emergency financial assistance will help support foreign exchange reserves, create fiscal space for essential pandemic-related expenditure, and catalyze donor support.</li>
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<span style="font-family: MuseoSans-700, Helvetica, sans-serif; font-weight: 700;">WASHINGTON, DC</span> – The Executive Board of the International Monetary Fund (IMF) approved Mongolia’s request for emergency financial assistance under the <a href="https://www.imf.org/en/About/Factsheets/Sheets/2016/08/02/19/55/Rapid-Financing-Instrument" style="color: #3979a6; text-decoration-line: none;">Rapid Financing Instrument (RFI) </a>equivalent to SDR 72.3 million (about US$99 million, or 100 percent of quota) to meet <a href="https://www.imf.org/en/News/Articles/2020/05/18/pr20218-mongolia-imf-staff-completes-discussions-for-emergency-access-to-the-rfi" style="color: #3979a6; text-decoration-line: none;">urgent budgetary and balance of payment needs </a>stemming from the outbreak of COVID-19 and to support the most affected sectors and vulnerable groups.</div>
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Following the Executive Board’s discussion of Mongolia, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Chair, made the following statement:</div>
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“Mongolia has successfully avoided a domestic outbreak of COVID-19 thus far, helped by the early introduction of social distancing and tight health protocols for cross-border flows. Nonetheless, the pandemic has sharply reduced economic activity due to both the economic cost of the containment measures and the fall in external demand. There is now an urgent balance of payments need and a fiscal financing gap.</div>
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“The authorities have already taken a number of measures to limit the economic contraction and help the most vulnerable. Recent revisions to the budget allow for higher health and social spending as well as tax relief to affected households and businesses. In addition, the Bank of Mongolia has eased monetary and financial policies to help prevent a disorderly contraction in bank lending to the private sector.</div>
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“Emergency financing under the IMF’s RFI will provide much needed support to respond to the urgent balance of payments and budgetary needs. Additional assistance from development partners will be required to support the authorities’ efforts and close the financing gap. The authorities’ commitment to high standards of transparency and governance in the management of financial assistance is welcome.</div>
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“As the immediate threat to the economy subsides, it will be critical to resume key reforms begun during the recent Extended Fund Facility arrangement. These include a return to fiscal consolidation to reduce still high public debt, a more flexible exchange rate to build up foreign exchange reserves, remedying AML-CFT deficiencies, and stronger supervisory enforcement to ensure that all banks have sufficient capital.”</div>
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IMF Communications Department</h5>
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MEDIA RELATIONS</h6>
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<span style="font-family: MuseoSansCond-700; font-weight: 700;">PRESS OFFICER:</span> KEIKO UTSUNOMIYA</div>
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<span style="font-family: MuseoSansCond-700; font-weight: 700;">PHONE: </span><span style="border-right: 1px solid rgb(0, 0, 0); padding: 0px 10px 0px 0px;">+1 202 623-7100</span><span style="border-right: none; padding: 0px 10px;"><span style="font-family: MuseoSansCond-700; font-weight: 700;">EMAIL:</span> MEDIA@IMF.ORG</span></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-12524695305943674972020-06-04T23:05:00.004+08:002020-06-04T23:05:53.069+08:00Mongolia throws a power station curveball at Rio Tinto<div style="background-color: white; box-sizing: border-box; color: #111111; font-family: sueca_hd_regular, Georgia, Times, serif; font-size: 18px; overflow-wrap: break-word; overflow: hidden; padding: 0px;">
The <a href="https://www.afr.com/companies/mining/rio-looks-to-lift-debt-cap-amid-2-69b-mongolia-blowout-20190716-p527sa" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">cost of expanding Rio Tinto's Mongolian copper project</a> could decline by almost $US1 billion ($1.5 billion) under a surprise Mongolian government plan that could increase the host nation's long-term influence over Rio and the project.</div>
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The Mongolian government has told the Rio subsidiaries building the $US6.8 billion Oyu Tolgoi copper expansion that it plans to build a state-owned coal-fired power station that would provide<a href="https://www.afr.com/companies/mining/mongolia-forces-rio-tinto-to-build-power-station-20180216-h0w70d" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;"> a long-awaited domestic power source for the mine.</a></div>
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The latest curveball from the Mongolian government comes barely a month before parliamentary elections in the developing nation, and a week before Mongolian courts hear charges against the government officials who signed the <a href="https://www.afr.com/companies/mining/rio-tinto-completes-us44b-finance-package-for-oyu-tolgoi-mine-20151215-glo1hd" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">2015 agreement that underpins the Oyu Tolgoi expansion</a>.</div>
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The existing mine at Oyu Tolgoi is powered by coal-fired electricity that is imported from neighbouring China, but Mongolia has demanded that Rio find a domestic power source before June 30, 2023.</div>
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Rio <a href="https://www.afr.com/companies/mining/rio-running-late-on-mongolia-coal-power-20200218-p54207" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">flagged in February that a $US924 million coal-fired power station</a> was the most likely domestic solution, although it indicated it would not be finished before June 2024.</div>
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The Mongolian government disagreed with Rio's $US924 million power station proposal, and has since told Rio and its subsidiaries that it plans to build a state-owned power station at the Tavan Tolgoi coalfields.</div>
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The surprise move has both short-term and long-term ramifications for Rio and the <a href="https://www.afr.com/companies/mining/limbo-or-lottery-ticket-turquoise-hill-tempts-copper-buyers-20191010-p52zbs" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">Rio subsidiary that owns 66 per cent of Oyu Tolgoi, Turquoise Hill Resources.</a></div>
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Leverage over the project</h2>
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A government-funded power station would reduce Rio and Turquoise Hill's near-term spend on the project; a prospect that would appeal to <a href="https://www.afr.com/companies/mining/rio-s-mongolian-mess-raises-prospect-of-trq-equity-raising-20190717-p5286z" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">minority investors in Turquoise Hill</a> given the company needs to raise "at least $US4 billion" in further funds to cover cost and schedule blowouts on the Oyu Tolgoi expansion.</div>
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But a government-controlled power station would give the government a long-term source of leverage over the mine project, which could be important given the <a href="https://www.afr.com/companies/mining/mongolia-pours-fresh-doubt-on-rio-tinto-agreement-20191120-p53c8z" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">fractious nature of Mongolia's relationship with Rio.</a></div>
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The government is also understood to believe it can build such a power station cheaper than the $US924 million price tag suggested by Rio and its subsidiaries.</div>
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Turquoise Hill said it was broadly supportive of the government-owned proposal, subject to further agreement over the commercial terms for the supply of power and construction timelines.</div>
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Rio and its subsidiaries would likely need a guarantee they can continue importing power from China until the Mongolian government power station was built, suggesting the June 2023 deadline for Rio to find a domestic power source could be extended.</div>
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Signatories in court</h2>
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The surprise proposal for a government-owned power station comes a week before scheduled court appearances by the two men who in 2015 were the Mongolian government signatories to an agreement that allowed the Oyu Tolgoi expansion to go ahead.</div>
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Bayanjargal Byambasaikhan was chief executive of Mongolia's sovereign wealth management company Erdenes Mongol in 2015 when he joined Rio Tinto's now chief executive Jean-Sebastien Jacques in signing the expansion agreement in a Dubai hotel.</div>
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Known in Mongolia as Byamba, he has since been accused of abusing his authority in signing the deal, which effectively kick-started the project without requiring approval from the Mongolian parliament.</div>
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Byamba is now chairman of the Business Council of Mongolia, a lobby group that counts Oyu Tolgoi as a member, alongside Australian companies such as Orica, Worley, Aspire Mining and the Australian embassy to Mongolia.</div>
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Similar charges, which relate to matters of process rather than any suggestion of corruption, have been filed against another signatory to the Dubai agreement and former Oyu Tolgoi director Ganbold Davaadorj.</div>
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The charges against both men are similar in nature to those <a href="https://www.afr.com/companies/mining/rio-accused-of-weak-silence-over-ex-pm-s-jailing-20200203-p53x4n" style="background: transparent; border-bottom: 2px solid transparent; border-image: initial; border-left: none; border-right: none; border-top: none; box-shadow: rgb(15, 108, 201) 0px -1px 0px 0px inset, rgba(15, 108, 201, 0) 0px 1px 0px 0px; box-sizing: border-box; color: #7d7d7d; font-family: inherit; font-size: inherit; line-height: inherit; overflow-wrap: break-word; padding: 0px; text-decoration-line: none; text-shadow: rgb(255, 255, 255) 1px 1px 0px, rgb(255, 255, 255) -1px 1px 0px, rgb(255, 255, 255) 2px 0px 0px, rgb(255, 255, 255) -2px 0px 0px; transition: all 0.2s ease-in-out 0s;">filed against former Mongolian prime minister Chimediin Saikhanbileg,</a></div>
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Rio and Turquoise Hill warned in July 2019 that expansion of Oyu Tolgoi was running between 16 and 30 months later than the most recent guidance, and the cost of construction was likely to be between $US1.2 and $US1.9 billion higher than previous guidance.</div>
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Turquoise Hill refined that guidance last week, saying the delays would be between 21 and 29 months late, with the company's best guess at this stage being a delay of 25 months.</div>
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The cost blowout range was tightened to between $US1.3 billion and $US1.8 billion, with $US1.5 billion being the company's best guess at this stage.</div>
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If Turquoise Hill is correct on those estimates, the construction cost would amount to $US6.8 billion excluding the cost of the power station, and first sustainable production would occur about the middle of 2023.</div>
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In 2012, Rio was expecting to have the Oyu Tolgoi underground expansion complete and in production by 2015.</div>
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Source:www.afr.com</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-14447893042320723092020-05-06T14:57:00.001+08:002020-05-06T14:57:37.465+08:00Mongolia evacuates 261 nationals from Europe over COVID-19 pandemic<div style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 14px; margin-bottom: 15px; margin-left: 3px; margin-right: 3px; padding: 0px;">
ULAN BATOR, May 3 (Xinhua) -- A total of 261 Mongolian nationals have been evacuated on a chartered flight from COVID-19-hit European countries, the country's State Emergency Commission (SEC) said Sunday.</div>
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The flight landed in the Chinggis Khaan International Airport in the capital city of Ulan Bator on Sunday morning, with 261 passengers onboard, the SEC said in a statement.</div>
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The 261 passengers belonging to at-risk groups, including pregnant women, the elderly, children and sick people, will be isolated at designated facilities for 21 days, it added.</div>
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The passengers arrived in the western German city of Frankfurt from 13 European countries before boarding the flight, according to the Mongolian Foreign Ministry.</div>
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The Asian country has evacuated more than 2,600 nationals from abroad on chartered flights since mid-March.</div>
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Mongolia reported 39 cases of COVID-19 as of Sunday. All confirmed cases, including four foreign nationals, are imported.</div>
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There have been no local transmissions reported in Mongolia so far. Enditem</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-24739326194116551632020-05-03T20:07:00.000+08:002020-05-03T20:07:01.428+08:00Mongolia receives anti-virus supplies from China<div style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 14px; margin-bottom: 15px; margin-left: 3px; margin-right: 3px; padding: 0px;">
ULAN BATOR, April 28 (Xinhua) -- Mongolia received medical supplies from north China's Inner Mongolia Autonomous Region on Tuesday in the fight against the COVID-19 outbreak.</div>
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The medical materials included 100,000 masks, 1,000 protective suits and 200 boxes of testing kits.</div>
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"As a result of the Mongolian government's optimal measures to prevent the spread of COVID-19, Mongolia has become one of the few countries where no cases of the coronavirus from local transmission has been reported. This is a great achievement," Chinese Ambassador to Mongolia Chai Wenrui said in a speech during the handover ceremony of the donation.</div>
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"In addition, no cases of COVID-19 infection imported from China has been reported in Mongolia. We are ready to cooperate with the Mongolian side to maintain the situation," Chai said.</div>
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Mongolian Health Minister Davaajantsan Sarangerel expressed her deep gratitude to the Chinese government and people for the donation.</div>
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As of Tuesday, a total of 38 COVID-19 cases have been reported in Mongolia.</div>
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All confirmed cases, including four non-nationals, are imported, according to the country's National Center for Communicable Disease. Enditem</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-55784288530149542852020-05-03T20:06:00.003+08:002020-05-03T20:06:28.539+08:00Mongolia cancels Tavan Tolgoi’s $1 billion IPO plan<div style="background-color: white; box-sizing: border-box; color: #212529; font-family: montserrat, sans-serif; font-size: 18px; margin-bottom: 1rem;">
Mongolia has <a aria-label=" (opens in a new tab)" href="https://www.zasag.mn/news/view/24912" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">cancelled an executive order</a> to fund its giant Tavan Tolgoi coal project through an international initial public offering (IPO), citing “political distortions” and the current dire state of global financial markets.</div>
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Erdenes Tavan Tolgoi (ETT), the state-owned company that holds the license to the deposit, had been working with an adviser for preparations of the planned IPO, which included a listing in the Hong Kong Exchange (HKEX).</div>
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The stock market launch, which could have raised more than $1 billion, was meant to help fund the massive project and related transportation infrastructure to deliver 30 million tonnes of coking coal a year to markets in China and beyond.</div>
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The cancelled plan was at least the third effort to raise money to develop the Tavan Tolgoi mine after international partnerships failed in 2011 and 2015. Mongolian lawmakers in 2018 approved a <a aria-label=" (opens in a new tab)" href="https://www.mining.com/web/mongolian-parliament-oks-plan-sell-30-tavan-tolgoi-mine/630/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">plan to sell up to 30% of Tavan</a>, which is <a aria-label=" (opens in a new tab)" href="https://www.mining.com/mongolia-readies-revive-giant-tavan-tolgoi-coal-mine/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">the country’s second-largest mining investment</a> after Rio Tinto’s Oyu Tolgoi copper-gold-silver operation.</div>
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Tavan Tolgoi, which means “five hills” is located near Mongolia’s southern border with China. It has estimated reserves of more than 7 billion tonnes of coal, more than one-third of which is high-grade hard coking coal, <a aria-label=" (opens in a new tab)" href="http://en.tavantolgoi.mn/p/4#.XqgnvZNKhTa" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">according to its website</a>.</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-64436208837753051952020-04-24T22:49:00.002+08:002020-04-24T22:49:22.935+08:00Mongolia to send meat to Russia to help combat COVID-19<div style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 14px; margin-bottom: 15px; margin-left: 3px; margin-right: 3px; padding: 0px;">
ULAN BATOR, April 23 (Xinhua) -- Mongolia will send meat and meat products worth 1 million U.S. dollars to Russia to help combat the COVID-19 pandemic, Mongolian parliament speaker Gombojav Zandanshatar said Thursday.</div>
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Zandanshatar made the remarks when meeting with Russian Ambassador to Mongolia Iskander Azizov, according to the parliament's press office.</div>
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"Our country's National Security Council has decided to send meat and meat products worth 1 million U.S. dollars to Russia's Irkutsk region and the Republic of Buryatia. We hope that the non-refundable aid will help prevent and combat the spread of COVID-19," Zandanshatar said.</div>
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The Russian ambassador expressed his deep gratitude to the Mongolian side and said that he would immediately inform the authorities of the two Russian regions. Enditem</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-58072950827460916112020-04-24T22:48:00.001+08:002020-04-24T22:48:12.144+08:00Kincora drilling underway at brownfield Trundle project, NSW<table bgcolor="#ffffff" cellpadding="0" cellspacing="0" class="m_1935374160618823705ee_element" role="presentation" style="background-color: white; border-collapse: collapse !important; border-spacing: 0px !important; color: #222222; font-family: Arial, sans-serif; font-size: 14px; min-width: 100%; table-layout: auto; width: 100%px;"><tbody>
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<li style="line-height: 21px; margin: 0px; overflow-wrap: break-word; word-break: break-word;"><span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;"><i>Deeper core drilling commenced testing three large and mineralized porphyry targets at the Trundle project</i></span></li>
<li style="line-height: 21px; margin: 0px; overflow-wrap: break-word; word-break: break-word;"><span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;"><i>Trundle is the only brownfield project held by a listed junior in Australia’s foremost porphyry belt, and within the same mineralized complex as Australia’s second largest porphyry mine</i></span></li>
<li style="line-height: 21px; margin: 0px; overflow-wrap: break-word; word-break: break-word;"><span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;"><i>Excellent potential for new higher-grade porphyry and skarn copper-gold discoveries</i></span></li>
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<span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;"><b>Vancouver, BC — April 22nd, 2020</b></span></div>
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<span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;">Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) is pleased to have commenced drilling activities at the Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (“LFB”), in central west New South Wales (“NSW”), Australia.</span></div>
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<span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">A first phase drilling program is planned for six holes and 3,800 metres, testing three known mineralized targets seeking to discover a new cluster of porphyry deposits. Extensive porphyry and skarn-style copper-gold mineralisation and informal mining activities are associated with several Ordovician intrusive centres across the full Trundle license, which is located within a prolific mining and infrastructure district.</span></div>
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<span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">John Holliday, Chairman of Kincora’s Technical Committee, and Peter Leaman, Senior Vice-President of Exploration, commented: <i>“Modern systematic exploration at Trundle has utilised industry leading Induced Polarisation survey's, including HPX’s proprietary Typhoon system, and magnetic modelling which has been insufficiently followed up by drilling.</i></span></div>
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<i style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">Existing significant drill intersections supports vectoring to very compelling targets at three existing mineralised systems within a brownfield environment to Northparkes, Australia’s second largest porphyry mine where five deposits are defined.</i></div>
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<i style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">We are very excited by the upcoming high impact and funded drilling program at Trundle.”</i></div>
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<span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">Sam Spring, President & CEO, noted: <i>“Our team has demonstrated Tier 1 exploration success in the belt, which coupled with unique prior exploration experience at Trundle, and the quality of prior activities and results, has supported mobilising drilling within three months of agreeing the MoU with our now project level JV partner RareX Limited (ticker “REE” on the ASX).</i></span></div>
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<i style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">Significant preventative measures have been taken to proactively manage the potential impact of COVID-19 and execute a successful drilling campaign. These systems and policies reflect the guidance given by the State and Federal authorities, and include sourcing the on-site-team and supplies from within the region to both reduce the risk to, as well as financially support, the communities we operate in. </i></div>
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<i style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px;">We look forward to considerable news flow over the coming months in a market that is still significantly rewarding exploration success in the Lachlan Fold Belt”.</i></div>
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<span style="overflow-wrap: break-word; text-decoration-line: underline; word-break: break-word;"><a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573F-1/c.aspx&source=gmail&ust=1587825893640000&usg=AFQjCNHlL66tq5BB9nfH9lJtX5oh-gyU8Q" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573F-1/c.aspx" style="color: #222bf8; overflow-wrap: break-word; word-break: break-word;" target="_blank">Click here to view the full 7 page and 5 image announcement</a></span></div>
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<span style="font-size: 12px; overflow-wrap: break-word; text-decoration-line: underline; word-break: break-word;"><a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573G-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNGa1xffieOTjBGdbJtC9db6lpsk_g" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573G-1/c.aspx" style="color: #222bf8; overflow-wrap: break-word; word-break: break-word;" target="_blank"><span style="overflow-wrap: break-word; word-break: break-word;">Click here for Proactive Investors Deep Dive Article (April 22nd, 2020)</span></a></span></div>
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<span style="color: #f47b0b; overflow-wrap: break-word; word-break: break-word;"><b>Further highlighted details</b></span></div>
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<li style="line-height: 18px; margin: 0in 0in 0.0001pt; overflow-wrap: break-word; word-break: break-word;"><span style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;"><span style="overflow-wrap: break-word; word-break: break-word;">The Assay TV interview: Richard Schodde & John Holliday: </span><a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573H-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNHv9h2kEXblfSia_RnOXmoEDE7uyg" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573H-1/c.aspx" style="color: #222bf8; overflow-wrap: break-word; word-break: break-word;" target="_blank"><span style="overflow-wrap: break-word; word-break: break-word;">Click Here</span></a><span style="overflow-wrap: break-word; word-break: break-word;"> (7th April, 2020)</span></span></li>
<li style="color: black; font-family: arial, helvetica, sans-serif; font-size: 12px; line-height: 18px; margin: 0in 0in 0.0001pt; overflow-wrap: break-word; word-break: break-word;">Corporate presentation: <a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573I-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNH06hX926m5lCkNP54BycCDpPYOdg" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573I-1/c.aspx" style="color: #222bf8; overflow-wrap: break-word; word-break: break-word;" target="_blank">Click Here</a> (7th April, 2020)</li>
<li style="color: black; font-size: 12px; line-height: 18px; margin: 0in 0in 0.0001pt; overflow-wrap: break-word; word-break: break-word;"><span style="font-family: arial, helvetica, sans-serif; overflow-wrap: break-word; word-break: break-word;">Kincora closes agreement with RareX: <a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573J-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNG8u3PIzeeFevQNMrVa6MWoHG7JQA" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573J-1/c.aspx" style="color: #222bf8; overflow-wrap: break-word; word-break: break-word;" target="_blank">Click Here</a></span><span style="font-family: arial, helvetica, sans-serif; overflow-wrap: break-word; word-break: break-word;"> (19th March, 2020)</span></li>
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<b><span style="color: #f47b0b; font-family: arial, helvetica, sans-serif; font-size: 12px; overflow-wrap: break-word; word-break: break-word;">Upcoming events :</span></b></div>
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<li style="font-family: arial, helvetica, sans-serif; font-size: 12px; line-height: 15px; margin: 0px; overflow-wrap: break-word; word-break: break-word;"><span style="color: black; overflow-wrap: break-word; word-break: break-word;">121 Meetings Online - Hong Kong 28 - 29 April 2020</span></li>
<li style="font-size: 12px; line-height: 15px; margin: 0px; overflow-wrap: break-word; word-break: break-word;"><span style="font-family: arial, helvetica, sans-serif; overflow-wrap: break-word; word-break: break-word;">121 Meetings Online - EMEA 19 - 21 May 2020<br /><span style="color: black; overflow-wrap: break-word; word-break: break-word;">To find out more about 121's new online meeting format, </span></span><a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573K-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNG7OA7pEnb8JogpgiAND92zecllQQ" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573K-1/c.aspx" style="color: #222bf8; font-family: arial, helvetica, sans-serif; overflow-wrap: break-word; word-break: break-word;" target="_blank"><span style="overflow-wrap: break-word; word-break: break-word;">click here</span></a></li>
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<b><span style="font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">About Kincora</span></b></div>
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<span style="color: black; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">Kincora is a junior resource company engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in the Lachlan Fold Belt, NSW, </span><span style="color: black; font-size: 12px; overflow-wrap: break-word; word-break: break-word;">Australia</span><span style="color: black; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;"> and </span><span style="color: black; font-size: 12px; overflow-wrap: break-word; word-break: break-word;">Mongolia</span><span style="color: black; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">. For further information:</span></div>
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<a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573M-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNEGf15weoNuMPt7sy07AlrHARXnjQ" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573M-1/c.aspx" style="color: #1155cc; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;" target="_blank">www.kincoracopper.com</a><span style="color: black; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">.</span><b style="font-family: arial, sans-serif; font-size: 9pt;"> </b></div>
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<b><span style="font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">For Further information please contact:</span></b></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">Sam Spring</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">President & Chief Executive Officer</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">Kincora Copper</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">+61 431 329 345</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;"><a data-saferedirecturl="https://www.google.com/url?q=https://kincora-copper.com/2UB0-115TM-4P4IDR-N573N-1/c.aspx&source=gmail&ust=1587825893641000&usg=AFQjCNHafSqV6VJjdBkClxs6aCslNwHGdA" href="https://kincora-copper.com/2UB0-115TM-4P4IDR-N573N-1/c.aspx" style="color: #1155cc; overflow-wrap: break-word; text-decoration-line: none; word-break: break-word;" target="_blank"><span style="color: black; overflow-wrap: break-word; word-break: break-word;">sam.spring@kincoracopper.com</span></a></span></div>
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<b><span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">Enquiries:</span></b></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">Christine Wootliff</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">Investor Relations</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">121 Group</span></div>
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<span style="color: black; font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;">+852 3628 2420</span></div>
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<span style="font-family: verdana, sans-serif; font-size: 9pt; overflow-wrap: break-word; word-break: break-word;"><a href="mailto:christine.wootliff@weare121.com" style="color: #1155cc; overflow-wrap: break-word; word-break: break-word;" target="_blank"><span style="color: black; overflow-wrap: break-word; text-decoration-line: none; word-break: break-word;">christine.wootliff@weare121.<wbr></wbr>com</span></a></span></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-39799331369923321022020-04-16T15:30:00.001+08:002020-04-16T15:30:34.726+08:00World Bank Group plans $12m loan to Mongolia microfinance company<span style="background-color: white; color: #606060; font-family: Georgia, Times, "Times New Roman", serif; font-size: 21px;">Transcapital earmarks funds for small companies and rural areas</span><span class="fullpost">
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The World Bank's private sector arm, International Finance Corporation, may extend a syndicated senior loan facility equal to $12 million in local currency to Mongolian microfinance company Transcapital.</div>
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The deal would be IFC's first investment using the Mongolian tugrik and its first business with a non-banking financial institution in the country, IFC said in a statement.</div>
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With the deal, Transcapital will be able to provide more access to finance for small enterprises and underserved individuals, especially women and people living outside the capital of Ulaanbaatar, IFC said.</div>
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It is also expected to help develop Mongolia's microfinance sector by allowing small institutions access to midterm funding in the local currency and by strengthening institutional capacity.</div>
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IFC said it will also help Transcapital obtain loans from international investors.</div>
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"Such funding is expected to be further curtailed given the impact of the ongoing COVID-19 crisis on global markets and on the Mongolian economy," the statement added.</div>
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Transcapital is the largest microfinancer in Mongolia, according to the World Bank unit.</div>
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The company is majority-owned by the Namsraijav family. Transcapital founder Zorigt Namsraijav and CEO Altanzul Zorigt hold 93% of the company.</div>
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Zorigt Namsraijav is also the founder of the Tuushin Hotel and Tuushin Group, operator of the country's first freight forwarder.</div>
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IFC says in another statement that it is involved in all key sectors of the local economy, from financial services and agribusiness to infrastructure and sustainable mining.</div>
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Since starting Mongolian operations in 1997, IFC has invested more than $470 million in the country.</div>
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IFC's other investment in the financial sector is Khan Bank, the country's largest lender. It recently extended a $70-million bond and debt package to the bank.</div>
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Source:IFC</div>
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mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-23797508368366508452020-04-16T15:24:00.002+08:002020-04-16T15:24:41.810+08:00Mongolia confirms 13 more Covid-19 cases<span style="background-color: white; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;">ULAN BATOR: Mongolia on Tuesday (April 14) confirmed 13 new cases of Covid-19 (coronavirus), bringing the total in the country to 30.</span><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><span style="background-color: white; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;">"The NCCD tested 502 suspected cases of Covid-19 on Monday and 13 of them were positive," Dulmaa Nyamkhuu, head of the National Centre for Communicable Disease (NCCD), said at a press conference.</span><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><div class="sasStoryRectPos" style="background-color: white; border: none; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px; margin: 0px; padding: 0px;">
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<span style="background-color: white; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;">The 13 patients are Mongolian students who have recently been evacuated from Russia on buses via Altanbulag border point amid the Covid-19 pandemic, according to the NCCD.</span><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><span style="background-color: white; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;">They all are now at isolation wards in the NCCD in the country's capital city of Ulan Bator.</span><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><div class="inlineAd" style="background-color: white; border: none; box-sizing: border-box; clear: both; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px; margin: 0px; padding: 0px; width: 610px;">
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<span style="background-color: white; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;">All the 30 confirmed cases are imported ones and five of them have recovered, said the NCCD.</span><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><br style="background-color: white; box-sizing: border-box; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;" /><span style="background-color: white; color: #333333; font-family: Lato, Arial, Helvetica, Arial, Tahoma, sans-serif; font-size: 16px;">A French national tested positive for the virus on March 10, becoming the first case in Mongolia. - Xinhua/Asian News Network</span><span class="fullpost">
</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-10055934061446911232020-04-14T00:10:00.001+08:002020-04-14T00:10:53.904+08:0055 Mongolians Finally Return Home after Mongolia Provides Flight<span style="font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px;">A group of 55 Mongolians who had been staying in South Korea after their home country refused their repatriation have finally returned. </span><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><span style="font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px;">According to legal circles on Thursday, the group went back aboard an extra flight on Wednesday. Some of the group conducted a hunger strike directed at the Mongolian Embassy in South Korea, while being kept in a detention center.</span><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><span style="font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px;">The Mongolians were initially scheduled to be repatriated on April 2 but the plan was scrapped after Mongolia unilaterally cancelled their reserved flights due to the COVID-19 pandemic. </span><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><span style="font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px;">Mongolia had refused entry of its nationals residing abroad since the end of February as part of efforts to block imported coronavirus cases. </span><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><span style="font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px;">Mongolia later reversed its decision and provided a flight to bring home the 55 Mongolians once they all obtained documents confirming they tested negative for COVID-19. The group paid for the tests themselves.</span><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><br style="box-sizing: border-box; font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px; margin: 0px;" /><span style="font-family: "Noto Sans", Helvetica, Arial, sans-serif; font-size: 16px; letter-spacing: -0.32px;">Mongolia is not the only country refusing to repatriate its own citizens. Vietnam has also refused to let in its citizens since March 6, and Thailand has demonstrated reluctance in repatriating its nationals.</span><span class="fullpost">
</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-63895907052742580792020-04-09T15:08:00.001+08:002020-04-09T15:08:56.572+08:00The World Bank Approves $26.9 Million for Mongolia’s COVID-19 Emergency Response<div class="redesign_static_content section" style="background-color: white; box-sizing: border-box; color: #333333; font-family: "Open Sans", sans-serif; font-size: 16px;">
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<span style="box-sizing: border-box; font-weight: 700;">ULAANBAATAR, April 2, 2020</span>—The World Bank’s Board of Executive Directors today approved $26.9 million for the <i style="box-sizing: border-box;">Mongolia COVID-19 Emergency Response and Health System Preparedness Project</i> to meet emergency needs in the face of the pandemic and to better prepare for future health crises.</div>
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The project will address the immediate needs in response to COVID-19 such as training for emergency care doctors, nurses and paramedical staff; purchase of medical and laboratory equipment and supplies as well as build COVID-19 diagnostic capacity in Ulaanbaatar and all provinces. It will also rehabilitate health facilities; institute infection control measures and training across health facilities; and support public health information and communication campaigns for disease prevention and management.</div>
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Although community transmission has not been reported in Mongolia, the country remains at high risk for COVID-19 outbreak spread. The government has made addressing the COVID-19 pandemic an immediate priority.</div>
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<i style="box-sizing: border-box;">“The global COVID-19 pandemic clearly calls for strengthening the preparedness and resilience of health systems to respond to such crisis situations,”</i> said <span style="box-sizing: border-box; font-weight: 700;">Andrei Mikhnev, World Bank Country Manager for Mongolia</span>. “<i style="box-sizing: border-box;">This emergency operation will not only provide immediate support to address the COVID-19 pandemic, but will also benefit Mongolia’s health sector in the longer term to become more resilient to future health emergencies.”</i> </div>
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The project funding comprises a US$13.1 million credit from the International Development Association (IDA) and a $13.8 million credit from the International Bank for Reconstruction and Development (IBRD), allocated as part of the World Bank Group’s $14 billion COVID-19 fast-track financing package. Retroactive financing up to US$4.2 million of the total amount will be available for eligible expenditures incurred by the government from January 1, 2020.</div>
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<span style="box-sizing: border-box; font-weight: 700;"><i style="box-sizing: border-box;">World Bank Group COVID-19 Response</i></span></div>
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The World Bank Group is rolling out a $14 billion <a href="https://www.worldbank.org/en/who-we-are/news/coronavirus-covid19" style="background-color: transparent; box-sizing: border-box; color: #0071bc; cursor: pointer; text-decoration-line: none;">fast-track package</a> to strengthen the COVID-19 response in developing countries and shorten the time to recovery. The immediate response includes financing, policy advice, and technical assistance to help countries cope with the health and economic impacts of the pandemic. The <a href="http://www.ifc.org/" style="background-color: transparent; box-sizing: border-box; color: #0071bc; cursor: pointer; text-decoration-line: none;"><span style="box-sizing: border-box; font-weight: 700;">IFC</span></a> is providing $8 billion in financing to help private companies affected by the pandemic and preserve jobs. <a href="http://www.worldbank.org/" style="background-color: transparent; box-sizing: border-box; color: #0071bc; cursor: pointer; text-decoration-line: none;"><span style="box-sizing: border-box; font-weight: 700;">IBRD and IDA</span></a> are making an initial US$6 billion available for the health response. As countries need broader support, the World Bank Group will deploy up to $160 billion over 15 months to protect the poor and vulnerable, support businesses, and bolster economic recovery.</div>
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In Ulaanbaatar</h5>
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Indra Baatarkhuu</address>
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<span class="tel" style="box-sizing: border-box;">+976 7007 8207</span></div>
<a data-customlink="em:body content" data-text="Email" href="mailto:ibaatarkhuu@worldbank.org" style="background-color: transparent; box-sizing: border-box; color: #0071bc; cursor: pointer; text-decoration-line: none;">ibaatarkhuu@worldbank.org</a></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-50452745542733456242020-04-08T14:34:00.001+08:002020-04-08T14:34:08.265+08:00Rio faces investor rebellion over Oyu Tolgoi<div style="background-color: white; box-sizing: border-box; color: #212529; font-family: montserrat, sans-serif; font-size: 18px; margin-bottom: 1rem;">
Rio Tinto (ASX, LON, NYSE: RIO) is facing a new setback at its giant copper project in Mongolia with a large investor demanding a shakeup at the Oyu Tolgoi operation over what it claims is “a massive devaluation” of the asset.</div>
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US hedge fund Pentwater Capital <a aria-label=" (opens in a new tab)" href="http://www.globenewswire.com/news-release/2020/04/02/2011081/0/en/PENTWATER-FILES-PROXY-CIRCULAR-FOR-SHAREHOLDERS-OF-TURQUOISE-HILL-RESOURCES-LTD-TSX-TRQ-NYSE-TRQ.html" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">wants the designation of a new independent director</a> to represent the interests of minority shareholders at Turquoise Hill Resources (TSX, NYSE:TRQ), the Rio-controlled company that operates the mine. </div>
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Naples, Florida-based Pentwater also wants other shareholders to be able to nominate three more directors.</div>
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“Turquoise Hill’s board and management have failed to effectively oversee Rio Tinto, and intervene in the abuse of control and refusal to make complete and truthful disclosure by Rio Tinto of the Oyu Tolgoi Project,” Pentwater <a aria-label=" (opens in a new tab)" href="http://www.globenewswire.com/news-release/2020/04/02/2011081/0/en/PENTWATER-FILES-PROXY-CIRCULAR-FOR-SHAREHOLDERS-OF-TURQUOISE-HILL-RESOURCES-LTD-TSX-TRQ-NYSE-TRQ.html" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">said in the statement</a>.</div>
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The fund, which has a 9% interest in Vancouver-based Turquoise Hill, said it had become increasingly worried at the mismanagement of an <a aria-label=" (opens in a new tab)" href="https://www.mining.com/rio-tinto-goes-ahead-with-5-3-billion-expansion-of-oyu-tolgoi/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">underground expansion</a> of the mine and the timing of market disclosures.</div>
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“The tangled web that has been woven between Rio Tinto and Turquoise Hill has resulted in a lack of corporate governance controls, systemic disregard for the interests of minority shareholders, a sustained period of false and misleading disclosures and irreparable harm to the interests of all Turquoise Hill stakeholders,” Pentwater said.</div>
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Mongolian muddles</h2>
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Investor activism is just the latest in a series of recent headaches for Rio as it builds what would rank as one of the three largest copper mines in the world when operating at full tilt – now expected to be by 2025 at the earliest.</div>
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In January 2018, the country’s government <a aria-label=" (opens in a new tab)" href="https://mining.com/rios-oyu-tolgoi-mine-mongolia-hit-155-million-tax-bill/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">served Oyu Tolgoi with a bill for $155 million</a> in back taxes — the mine’s second tax dispute since 2014. The company said at the time the charge related to an audit on taxes imposed and paid by the mine operator between 2013 and 2015.</div>
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Shortly after, the mine <a href="https://mining.com/force-majeure-oyu-tolgoi-mine-due-border-protests/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">had to declare force majeure</a> after protests by Chinese coal haulers disrupted deliveries near the border.</div>
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The situation prompted Rio’s chief executive Jean-Sebastien Jacques to visit Prime Minister Ukhnaagiin Khurelsuk to discuss how to build “win-win” partnerships. The trip was followed by the company’s announcement that it <a href="https://mining.com/rio-tinto-bets-big-mongolia-opens-local-office/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">was opening a new office in the country</a>, focused on exploration and building local relationships.</div>
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The issue resurfaced later, when a group of Mongolian legislators <a href="https://www.mining.com/web/mongolia-lawmakers-seek-rewrite-oyu-tolgoi-deal/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">recommended a review of the 2009 deal</a> that launched construction of the mine. It also advised revoking a 2015 agreement allowing for an underground expansion. </div>
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In December, Mongolia’s parliament <a aria-label="unanimously approved a resolution (opens in a new tab)" href="https://www.mining.com/rio-tinto-scores-big-win-in-mongolia/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">unanimously approved a resolution</a> that reconfirms the validity of all the Oyu Tolgoi mine-related agreement, bringing the 18-month review to a close.</div>
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<span style="box-sizing: border-box; font-weight: bolder;">Behind schedule and over budget</span></h2>
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Rio <a aria-label=" (opens in a new tab)" href="https://www.mining.com/rio-tinto-faces-1-9bn-cost-blowout-further-delays-at-oyu-tolgoi-copper-gold-mine/6263/" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">warned last year</a> that the project located in the South Gobi desert near the border with China would take 16-30 months longer than expected and would cost as much as an additional $1.9 billion to the initial $5.3 billion earmarked.</div>
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Last week, Turquoise Hill <a aria-label="poured more cold water (opens in a new tab)" href="https://www.turquoisehill.com/site/assets/files/5095/trq_q419_press_release_sdfssddda.pdf" rel="noreferrer noopener" style="background-color: transparent; box-sizing: border-box; color: #413f3f; transition: color 0.3s ease-in 0s;" target="_blank">poured more cold water</a> on the plan, saying that it would need at least another $4.5 billion to finish the project.</div>
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Once completed, the expansion is expected to lift Oyu Tolgoi’s production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes at peak output, targeted for 2025.</div>
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The giant deposit, discovered in 2001, is one-third owned by Mongolia’s government and two-thirds held by Turquoise Hill. Rio has a 51% stake in the Canadian miner.</div>
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Source:<a href="https://www.mining.com/" style="background-color: transparent;">https://www.mining.com/</a></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-78164749663464998812020-04-08T14:28:00.004+08:002020-04-08T14:28:59.050+08:00PENTWATER FILES PROXY CIRCULAR FOR SHAREHOLDERS OF TURQUOISE HILL RESOURCES LTD. (TSX:TRQ) (NYSE:TRQ) Issues Letter and Proxy Critical of the Treatment of Minority Investors in Turquoise Hill by Company’s Current Board and Management and its Controlling Shareholder Rio Tinto plc.<h1 class="article-headline" itemprop="headline" style="box-sizing: inherit; color: #2f3435; font-family: Roboto, Arial, sans-serif; font-size: 2.5rem; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: 1.25em; margin: 0px 0px 1.5rem; padding: 0px;">
PENTWATER FILES PROXY CIRCULAR FOR SHAREHOLDERS OF TURQUOISE HILL RESOURCES LTD. (TSX:TRQ) (NYSE:TRQ)</h1>
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<span style="box-sizing: inherit;">Issues Letter and Proxy Critical of the Treatment of Minority Investors in Turquoise Hill by Company’s Current Board and Management and its Controlling Shareholder Rio Tinto plc.</span></h2>
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<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Turquoise Hill shareholders have suffered massive value destruction at the hands of Rio Tinto, which operates the Oyu Tolgoi Project (allegedly under the watchful eye of Oyu Tolgoi's majority owner, Turquoise Hill) while also being the majority shareholder of Turquoise Hill.</em></li>
<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Turquoise Hill’s board and management have failed to effectively oversee Rio Tinto, and intervene in the abuse of control and refusal to make complete and truthful disclosure by Rio Tinto of the Oyu Tolgoi Project.<br style="box-sizing: inherit;" /></em></li>
<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Turquoise Hill’s officers are a revolving door of Rio Tinto executives, employees and board nominees, who are rotated into senior positions at Turquoise Hill and tasked with "negotiating" material agreements with Rio Tinto on behalf of Turquoise Hill.<br style="box-sizing: inherit;" /></em></li>
<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Rio Tinto exercises effective control over the selection and nomination of Turquoise Hill’s "independent directors", without any meaningful input from Turquoise Hill's minority shareholders.<br style="box-sizing: inherit;" /></em></li>
<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Turquoise Hill's directors lack sufficient independence from Rio Tinto, and their financial incentives are not aligned with the interests of Turquoise Hill or its minority shareholders.<br style="box-sizing: inherit;" /></em></li>
<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Shareholders are urged to vote using only the <u style="box-sizing: inherit;">GOLD</u> proxy now for Pentwater's meaningfully independent, experienced and motivated director nominee and its minority shareholder representation proposal to restore accountability at Turquoise Hill.<br style="box-sizing: inherit;" /></em></li>
<li style="box-sizing: inherit; font-size: 1rem; text-align: justify;"><em style="box-sizing: inherit;">Vote on the <u style="box-sizing: inherit;">GOLD</u> proxy or VIF and submit prior to 5:00 p.m. (Eastern time) on Thursday May 7, 2020 or earlier to permit it to be delivered to the Company in time to be counted.</em></li>
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NAPLES, Fla., April 02, 2020 (GLOBE NEWSWIRE) -- Pentwater Capital Management LP ("<strong style="box-sizing: inherit;">Pentwater</strong>"), a long-term supportive investor and the largest minority shareholder of Turquoise Hill Resources Ltd. ("<strong style="box-sizing: inherit;">Turquoise Hill</strong>" or the "<strong style="box-sizing: inherit;">Company</strong>") (TSX:<a href="http://www.globenewswire.com/News/Listing?symbol=TRQ&exchange=12" style="box-sizing: inherit; color: #565757; font-weight: 700;">TRQ</a>) (NYSE:<a href="http://www.globenewswire.com/News/Listing?symbol=TRQ&exchange=4" style="box-sizing: inherit; color: #565757; font-weight: 700;">TRQ</a>), owning, together with its affiliates and associates, approximately 9.09% of the Company's issued and outstanding common shares, today filed a proxy circular, <strong style="box-sizing: inherit;"><u style="box-sizing: inherit;">GOLD</u></strong> proxy card, and issued a letter to shareholders of Turquoise Hill in connection with the Company's upcoming annual and special meeting of shareholders scheduled for 9:00 a.m. (Eastern Time) on May 12, 2020 (the "<strong style="box-sizing: inherit;">Meeting</strong>") in the Saint-Laurent 5 room of Hôtel Bonaventure Montreal, located at 900 Rue de la Gauchetière Ouest, Montreal, Quebec, Canada.</div>
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Since Rio Tinto plc. (NYSE:RIO:US)(LON:RIO:L)(ASX:RIO:AX) ("<strong style="box-sizing: inherit;">Rio Tinto</strong>") gained control of Turquoise Hill in 2012, Pentwater has grown increasingly alarmed at the significant value destruction and mismanagement of and failure to make material disclosures about the Company and its material asset – the Oyu Tolgoi Project – at the hands of Rio Tinto and its hand-picked Turquoise Hill officers and directors. The tangled web that has been woven between Rio Tinto and Turquoise Hill has resulted in a lack of corporate governance controls, systemic disregard for the interests of minority shareholders, a sustained period of false and misleading disclosures and irreparable harm to the interests of all Turquoise Hill stakeholders.</div>
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The Oyu Tolgoi Project is one of the largest known copper and gold deposits in the world, containing ore that is six times the average-industry grade. If managed and operated properly, the Oyu Tolgoi Project should reap exceptional benefits for all stakeholders – including the people and government of Mongolia and the majority and minority shareholders of Turquoise Hill.</div>
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It is time to take action against the current culture of entrenchment, value destruction and misconduct at Turquoise Hill. At the Meeting, Pentwater is seeking the support of Turquoise Hill shareholders to vote using the <strong style="box-sizing: inherit;"><u style="box-sizing: inherit;">GOLD</u></strong> form of proxy or VIF <strong style="box-sizing: inherit;"><u style="box-sizing: inherit;">FOR</u></strong>:</div>
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<li style="box-sizing: inherit; font-size: 1rem;">the election of the highly qualified and meaningfully independent director nominee, Matthew Halbower, Chief Executive Officer and Chief Investment Officer of Pentwater, to the board of directors of the Company; and</li>
<li style="box-sizing: inherit; font-size: 1rem;">the adoption of a shareholder proposal, which would provide minority shareholders of Turquoise Hill with the exclusive right to nominate and elect three of seven directors to the board of directors of the Company.</li>
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Turquoise Hill shareholders have the opportunity to initiate much-needed change, to restore accountability and to safeguard minority shareholder interests in Turquoise Hill. By electing Matthew Halbower to the board of directors of the Company, minority shareholders will for the first time have a director representing them whose interests are fully aligned with theirs, rather than Rio Tinto's, which is exemplified by Pentwater's significant investment in Turquoise Hill.</div>
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To ensure your vote is counted, please vote using the <strong style="box-sizing: inherit;"><u style="box-sizing: inherit;">GOLD</u></strong> form of proxy or <strong style="box-sizing: inherit;"><u style="box-sizing: inherit;">GOLD</u></strong> VIF prior to 5:00 p.m. (Eastern Time) on Thursday, May 7, 2020. You should discard any management proxies or VIFs that you receive.</div>
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Shareholders are urged to read the full text of Pentwater's proxy circular and letter to shareholders, which are available under Turquoise Hill's issuer profile on SEDAR at www.sedar.com.</div>
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<strong style="box-sizing: inherit;">About Pentwater</strong></div>
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Pentwater is a private investment firm focused on investing in event driven strategies with expertise across the capital structure. Founded in April of 2007, the firm’s experienced team uses a dynamic, disciplined approach to mitigate risk and optimize returns.</div>
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The head office of Pentwater is located at 1001 10th Ave South, Suite 216, Naples, FL 34102.</div>
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<strong style="box-sizing: inherit;">For further information contact:</strong></div>
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MacKenzie Partners, Inc.<br style="box-sizing: inherit;" />Daniel Burch – 1-212-929-5748<br style="box-sizing: inherit;" />Jeanne Carr – 1-917-648-4478</div>
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Email: <u style="box-sizing: inherit;"><a href="https://www.globenewswire.com/Tracker?data=c_ATnWZrE8yVoa6KBaf4y8VObGN2nPP2Vui8pE_Zo1nqzuonDgPH1oJLjzH8l1ZMr9LyP_Z52NNLPLamFmGOMz5dn6TrRihlAPvpWiiMtteXUR79681Io1pJxwDPGRdP" rel="nofollow" style="box-sizing: inherit; color: #565757; font-weight: 700;" target="_blank" title="SaveTRQ@mackenziepartners.com">SaveTRQ@mackenziepartners.com</a></u></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-70505258593303787852020-04-08T14:27:00.002+08:002020-04-08T14:27:16.902+08:00Mongolian president proposes again to postpone parliamentary elections<div style="color: #404040; font-family: Arial; line-height: 26px; margin-left: auto; margin-right: auto; padding: 15px 0px; width: 900px;">
ULAN BATOR, April 6 (Xinhua) -- Mongolian President Khaltmaa Battulga on Monday once again proposed to postpone the country's parliamentary elections, citing economic risks caused by the COVID-19 pandemic.</div>
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Battulga made the proposal while delivering a speech at the opening ceremony of a regular spring session of the country's parliament.</div>
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"We need to take several measures to prevent and mitigate the risk of a possible recession due to the COVID-19 pandemic. Particularly, I believe that there is no other way but to postpone this year's parliamentary elections," Battulga told lawmakers.</div>
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In late March, he made a six-point proposal, including postponing parliamentary elections, to prepare the Mongolian people for a possible recession caused by the pandemic.</div>
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The legislative elections are scheduled for June 24.</div>
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Mongolia's parliament, the State Great Khural, is unicameral, consisting of 76 lawmakers with each serving a four-year term.</div>
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The previous parliamentary elections in Mongolia were held in June 2016.</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-69935776838960525302020-03-24T14:09:00.004+08:002020-03-24T14:09:51.190+08:00'At least' $7.8b more needed to complete Rio's Mongolian copper mine<div style="background-color: white; box-sizing: border-box; color: #111111; font-family: sueca_hd_regular, Georgia, Times, serif; font-size: 18px; overflow-wrap: break-word; overflow: hidden; padding: 0px;">
<a href="https://www.afr.com/companies/mining/how-rio-tinto-dug-itself-a-hole-in-mongolia-20190702-p523gk" style="box-sizing: border-box; color: #0f6cc9; overflow-wrap: break-word; text-decoration-line: none;">Rio Tinto's Mongolian copper project</a> will require a bigger than expected fundraising, after the Rio subsidiary building the mine said it needed to raise ''at least'' six times its current market capitalisation.</div>
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The subsidiary, Turquoise Hill Resources, shed fresh light on its financial predicament over the weekend, saying it needed at least a further $US4.5 billion ($7.8 billion) to complete an underground expansion of Mongolia's Oyu Tolgoi mine.</div>
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Massive cost and schedule blowouts on the expansion were last year revealed to have delayed completion by between 16 and 30 months, while the cost of construction was said to be between $US1.2 billion and $US1.9 billion higher than the previous budget of $US5.3 billion.</div>
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But the higher construction bill was just the start of the extra costs facing Turquoise Hill, which has no other assets and is 50.79 per cent owned by Rio.</div>
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Turquoise Hill has $US1.59 billion of contractual obligations due for payment before December 31, 2022, and the delays mean it can no longer rely on cash flows from the expansion to help cover those obligations.</div>
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The contractual obligations range from electricity contracts to repayments on the $US4.4 billion debt package that was supposed to be sufficient to complete the project when raised from a syndicate of banks (including Australia's NAB and ANZ) in 2015.</div>
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Turquoise Hill also must find $US924 million to cover the cost of a power station for the mine, after the Mongolian government refused to allow Oyu Tolgoi to continue buying electricity from generators in neighbouring China.</div>
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The company's problems are rapidly being exacerbated b<a href="https://www.afr.com/world/pacific/new-zealand-prepares-to-enter-lockdown-as-cases-double-20200323-p54d1t" style="box-sizing: border-box; color: #0f6cc9; overflow-wrap: break-word; text-decoration-line: none;">y the global lockdowns</a> forced by the coronavirus, which has prompted a 23 per cent slump in copper prices in the past two months.</div>
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That means the existing mine at Oyu Tolgoi will likely generate less cash flow this year than was expected just a few months ago, while travel restrictions for the virus are also slowing the pace of work on the expansion.</div>
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''Current estimates indicate an incremental funding requirement, over and above the $US2.2 billion in liquidity currently available, of at least $US4.5 billion,'' Turquoise Hill said in a market filing.</div>
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Turquoise Hill shares have lost 83 per cent of their value over the past 13 months since the cost and schedule blowouts <a href="https://www.afr.com/companies/mining/mongolian-adversity-gives-rio-tinto-a-world-of-opportunity-20190718-p528cr" style="box-sizing: border-box; color: #0f6cc9; overflow-wrap: break-word; text-decoration-line: none;">raised fears the miner may need to conduct a massive and dilutive equity raising.</a></div>
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The company's market capitalisation stood at just $US724 million on Monday, meaning the $US4.5 billion shortfall nominated over the weekend is more than six times the company's value.</div>
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Canaccord Genuity analyst Dalton Baretto estimated in November that Turquoise Hill would need an extra $US4.1 billion to complete the expansion and cover its obligations.</div>
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He said those funds could be sourced from an equity raising, extra debt or possibly a metal streaming deal, where future metal production is traded for immediate cash.</div>
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Turquoise Hill has told Rio, but not investors, what its preferred method of raising the money is, but Rio has indicated those plans are unlikely to be clarified before the exact size of the cost and schedule blowouts are known in the latter months of 2020.</div>
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Sailingstone Capital was for many years the second-biggest shareholder in Turquoise Hill and was<a href="https://www.afr.com/companies/mining/rio-tinto-criticised-over-mongolia-conflicts-20180202-h0sb9w" style="box-sizing: border-box; color: #0f6cc9; overflow-wrap: break-word; text-decoration-line: none;"> regularly vocal about what it believed was Rio's excessive influence over Turquoise Hill.</a></div>
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Sailingstone more than halved its stake in Turquoise Hill during 2019 as the financial predicament became clear, and ironically revealed in filings to regulators that it had added Rio Tinto securities to its portfolio.</div>
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Source:<a href="https://www.afr.com/" style="background-color: transparent;">https://www.afr.com/</a></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-50149137378024063242020-03-11T12:19:00.001+08:002020-03-11T12:19:35.014+08:00Mongolia reports first COVID-19 case<div style="background-color: white; font-family: Arial, Helvetica, sans-serif; font-size: 14px; margin-bottom: 15px; margin-left: 3px; margin-right: 3px; padding: 0px;">
ULAN BATOR, March 10 (Xinhua) -- A French national has tested positive for the novel coronavirus, becoming the first confirmed COVID-19 case in Mongolia, the State Emergency Commission said Tuesday.</div>
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"The patient is a French national aged 57, who arrived in the capital city of Ulan Bator on March 2," Ulziisaikhan Enkhtuvshin, head of the commission, said at a press conference.</div>
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"Initially, the man was screened and not tested positive for COVID-19. But, he began to develop a fever on Saturday," said Enkhtuvshin. "He was then tested for COVID-19 and preliminary tests were deemed to be positive."</div>
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The patient is now in the country's southeastern Dornogovi Province, he added, urging the public to be vigilant and follow hygiene rules. Enditem</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-70501649018876205152020-03-10T11:10:00.001+08:002020-03-10T11:10:08.425+08:00Chinese ambassador hails Mongolia's support for fight against COVID-19<div style="color: #404040; font-family: Arial; line-height: 26px; margin-left: auto; margin-right: auto; padding: 15px 0px; width: 900px;">
ULAN BATOR, March 5 (Xinhua) -- Chinese Ambassador to Mongolia Chai Wenrui on Thursday expressed appreciation for the Mongolian government and its people's support for China's fight against COVID-19.</div>
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"We are happy that no cases of coronavirus have been reported in Mongolia. We are ready to cooperate with the Mongolian side to maintain its coronavirus-free status, coordinate the prevention measures and win a complete victory over this virus," Chai said at an event held to thank the Mongolians at the Chinese Embassy here.</div>
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Since the COVID-19 outbreak in China, Mongolian leaders, representatives from various sectors, students and even children have been expressing solidarity with China in its battle against the novel coronavirus epidemic.</div>
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The Mongolian government has donated 200,000 U.S. dollars toward China's epidemic control efforts, and the country's President Khaltmaa Battulga, as the first foreign head of state to visit China since the COVID-19 outbreak, has offered a donation of 30,000 sheep to China during his recent one-day visit there.</div>
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As more Mongolians wish to donate money and prevention supplies to China, the Mongolian government last month launched a nationwide campaign called "Emotional Support to an Eternal Neighbor."</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-6215170356573743362020-03-08T13:27:00.002+08:002020-03-08T13:27:15.845+08:00Ancient Mongolian empires were more sophisticated than previously thought, study suggests<div class="speakable" style="background-color: white; border: 0px; box-sizing: border-box; color: #222222; font-family: Roboto, "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 18px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 28px; margin-bottom: 28px; padding: 0px; vertical-align: baseline;">
Ancient Mongolian kingdoms might have been more sophisticated than previously believed, a new study claims.</div>
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A paper presented in the journal <a href="https://www.nature.com/articles/s41598-020-60194-0" style="border: 0px; box-sizing: border-box; color: #003366; font: inherit; margin: 0px; padding: 0px; transition: background 0s ease 0s, all 0.25s ease 0s, all 0s ease-in-out 0s; vertical-align: baseline;" target="_blank">Scientific Reports</a> shows evidence that their diets relied extensively on millet, a type of small-seeded grass, which indicates more complex economies that developed, in part, because they were able to maintain reliable food surpluses.</div>
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“Mongolia’s past empires have long been portrayed as groups of violent horseback riders thought to be exceptions to the established ideals of what makes an ‘empire’,” lead author Shevan Wilkin from the Max Planck Institute in Germany told <a href="https://cosmosmagazine.com/archaeology/ancient-mongolian-empires-sustained-themselves-with-millet" style="border: 0px; box-sizing: border-box; color: #003366; font: inherit; margin: 0px; padding: 0px; transition: background 0s ease 0s, all 0.25s ease 0s, all 0s ease-in-out 0s; vertical-align: baseline;" target="_blank">Cosmos</a>.</div>
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Wilkin and his team analyzed fragmented teeth and rib bones of 137 previously excavated individuals who lived 4500 BCE to about 1300 AD in order to gain a better understanding of how their diets evolved over time.</div>
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Animal products seem to have featured heavily on the menu of most people, with very little plant food, prior to the Bronze Age, according to the study's findings.</div>
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However, the scientists found strong evidence of more diverse diets that did include significant consumption of millet or millet-based foods during the rise of the Xiongnu and Mongol empires.</div>
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“Instead of being starkly different to other empires around the world,” explained Wilkin in Cosmost, “this suggests that grain surpluses were also important to the Mongolian Empires that were seeking to support expanding territories and populations.”</div>
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Source:Foxnews.com</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-16704294405352791752020-03-01T22:29:00.002+08:002020-03-01T22:29:38.050+08:00Assault on Ulaanbaatar: how Russian Cossacks defeated the army of the Chinese<div class="td-author-by" style="background-color: white; box-sizing: border-box; color: #444444; display: inline; font-family: "Open Sans", arial, sans-serif; font-size: 11px; margin-right: 2px;">
By</div>
<span style="background-color: white; color: #444444; font-family: "Open Sans", arial, sans-serif; font-size: 11px;"> </span><a href="https://www.ilawjournals.com/author/webmaster" style="background-color: white; box-sizing: border-box; color: black; font-family: "Open Sans", arial, sans-serif; font-size: 11px; font-weight: 700; margin-right: 3px; text-decoration-line: none;">Thomas Channeton</a><span class="fullpost">
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If not for the heroic assault on the city of Urga General Roman Ungern-Sternberg would have been one of many “warlords” and not one of the most mysterious figures of the Civil war. A descendant of Baltic Germans, who bore the title of Baron wanted to recreate the Empire of Genghis Khan and lead the Mongol horsemen Europe.</div>
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But before that he needed to take Ugra and become the ruler of Mongolia. After the victory of the Buddhist priests became known as the General incarnation of the deity Mahakali ruthless and resolves of the Keeper of faith, feeding on the flesh and blood of the apostates.</div>
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the City of Urga</div>
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Today the capital of Mongolia is Ulaanbaatar, a city with a population of half million, which is an amazing combination of modernity and tradition of the steppe nomads. During the Civil war in Russia it was called Urga, which translated from Mongolian means “Palace”. In the city of the residence of the Bogdo-Khan, the chief of all the Buddhists of Mongolia. At that time, Mongolia was a theocratic, and therefore, the spiritual leader of the country was its ruler.</div>
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In 1919, the population had reached 100 thousand people. Most were Chinese – 70 thousand and 30 thousand Mongols, of which 20 thousand were priests. The town population up to 3 thousand Russian and a small colony of Jews. After the October revolution in USU entered a 10-strong Chinese corps, after which Mongolia lost its independence.</div>
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Ungern decided to kick the Chinese, however, the first attempt failed. After a few months, adding to the ranks of his army with new soldiers from the peoples of the steppe, “black Baron” decides to try again to capture the city.</div>
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Psychological warfare</div>
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In December 1920, the troops of the Asian cavalry division led by Baron Ungern come to Ugra. The siege army was small – only 1500 people, with 12 guns and 4 guns. Was the division of the officers of the Russian army, the Cossacks, Buryats, Tibetans, Mongols, Tatars, and Bashkirs, which the Chinese are particularly feared.</div>
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the Mixed army was soldered by iron discipline and a mystical fear of Roman Ungern. Cavalry division had to dislodge from the city of 10,000 Chinese soldiers, who were joined by 5 thousand militia Urga. The weapons of the enemy was 72 machine guns and 18 cannons. For protection around the city the Chinese had dug trenches and prepared in the city strongholds of defense.</div>
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Two months Ungern was not going to storm, and at this time the city was filled with horror, emanating from the personality of the commander. Chinese generals took a strange decision and arrested the Bogd Khan. The act of the invaders angered the local Mongol and depressing effect on the already weak morale of the Chinese. For fear of soldiers of the Chinese generals never brought a superior enemy in numbers 15 times the troops in the field.</div>
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Fear added following episode: Ungren in the yellow Mongolian robes riding on a white Mare alone penetrated in Ugra. Drove into the yard of the manor, the Chinese Governor of the city and gave the whip a sleeping sentry. Then in front of stunned the servants and calmly went into the street. Put on the capture of the soldiers are unable to catch the Baron, he literally disappeared on the curves of the streets of Ugra.</div>
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the assault of the Mongolian capital</div>
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on January 31 result of meticulous attention to detail of the operation and the desperate bravery of Tibetans, dressed lamas was released Bogdo-Khan. After this action, the Chinese soldiers settled superstitious fear. The night before the attack Ungern was used as old as the world trick. On the hills around Urga, which, when hiding from enemies, the young Genghis Khan, he ordered to kindle a lot of fires. Solid saw the glow of fire, the Chinese were convinced that the enemy reinforcements came.</div>
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At dawn on 2 February a detachment of 200 of the Bashkirs and the few Cossacks attacked the Chinese quarter Mcmachen. The attackers were soldiers from the chain, and each had 10 ammo and when ammo ran out, the lastoval distracting saber attack. At this time, from the South quarter broke 900 riders General Boris Rezukhin. To move crooked streets riding was difficult. The soldiers dismounted and began to lead street battles.</div>
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Chinese military commander threw his subordinates and fled to the city. Part of the garrison entrenched in some homes and temples. Realizing that mercy from the ferocious bearded northerners will not, they fought to the last. Soldiers joined residents of the quarter, shooting at the fighters Risuhina even bows and arrows. Strong points defending the Cossacks threw grenades and torched.</div>
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After Chinatown was busy, three Cossack squadrons broke into the Eastern outskirts of Urga. Here were captured a prison, in which sat almost frozen to death Russian colonists and refugees. In consequence of the release of Russian Ungern was named one of the main goals of the campaign. Pushing deep into the city continued, and after nightfall on 2 February the battle died down.</div>
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when the morning of 4 February, the hills around Urga filled escape from the city by Chinese soldiers. The enemy surrendered the city. Trophies of the Asian division was 5,000 rifles, a dozen guns, food, and money from two ugrinsky banks. After the assault Ungern staged a pogrom that claimed the lives of 50 people. The independence of Mongolia was restored, and Ungern received from the Bogdo Khan a nominal title, but his credibility among the population has become enormous.</div>
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mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-77841944951166921582020-02-28T11:41:00.001+08:002020-02-28T11:41:16.504+08:00China Focus: Xi says China, Mongolia help each other in face of difficulties<div style="color: #404040; font-family: Arial; line-height: 26px; margin-left: auto; margin-right: auto; padding: 15px 0px; width: 900px;">
BEIJING, Feb. 27 (Xinhua) -- Chinese President Xi Jinping Thursday held talks with Mongolian President Khaltmaa Battulga at the Great Hall of the People in Beijing.</div>
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Xi said the Chinese government and people are making all-out efforts to fight the novel coronavirus outbreak (COVID-19), during which the Mongolian government and people have offered precious support.</div>
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Hailing Battulga as the first foreign head of state to visit China since the outbreak, Xi said the special visit by Battulga to express consolations and support to China fully embodies the high attention he pays to the China-Mongolia ties and the profound friendship between the two peoples.</div>
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This vividly shows that China and Mongolia, as neighboring countries, can rely on each other in difficult times, said Xi.</div>
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Xi expressed his welcome as Battulga paid the visit only one day after Mongolia's traditional Tsagaan Sar holiday, and sent festive greetings to the Mongolian people.</div>
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Xi said that since the outbreak of COVID-19, the Communist Party of China (CPC) and the Chinese government have attached great importance to the epidemic, activated a national response mechanism and taken the most comprehensive, thorough and rigorous measures.</div>
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A leading group of the CPC Central Committee on the prevention and control of the COVID-19 was established immediately and a central government guiding team was sent to Hubei province, said Xi.</div>
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After arduous work, the positive trend in the prevention and control work is now expanding, Xi said, adding that the country has full confidence, capability to win this battle against the epidemic.</div>
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China has coordinated the prevention and control work with the economic and social development, and tried its best to minimize the impact of the epidemic, he said.</div>
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According to Xi, China has adopted a targeted approach in different regions to advance resumption of work and production based on local health risks, ensure timely agriculture work in spring and guarantee people's basic livelihood.</div>
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Noting that China's economy is resilient with broad domestic demand and a strong industrial basis, Xi said China will strive to meet this year's economic and social development targets.</div>
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Xi said that guided by the vision of a community with a shared future for humanity, China is making every effort not only to protect the life and health of its own people but also to contribute to global public health security.</div>
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With an open, transparent and responsible attitude, the Chinese government has actively stepped up international cooperation on fighting the outbreak, said Xi, adding that China's efforts have been highly affirmed and recognized by the World Health Organization and the international community.</div>
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China will continue to work with countries including Mongolia to fight the epidemic and safeguard regional and global public health security, he said.</div>
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Noting that China and Mongolia are friendly neighbors linked by waters and mountains, Xi said China has attached high importance to the bilateral relations and always taken Mongolia as an important direction of China's neighborhood diplomacy.</div>
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China is committed to cementing political mutual trust with Mongolia and enhancing Belt and Road cooperation to benefit both peoples, he said.</div>
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Battulga expressed consolations to the Chinese people over the outbreak and spoke highly of China's rapid establishment of a joint prevention and control mechanism and national people-oriented efforts to fight the epidemic.</div>
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Stressing that Mongolia and China are comprehensive strategic partners, Battulga said the Mongolian people completely relate to what the Chinese people are going through and would like to stand closely together with the Chinese people in the difficult times.</div>
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Mongolia launched fund-raising activities to support China's fight against the epidemic, and received active responses from all walks of life, he said, adding that Mongolia will send additional 30,000 sheep apart from the previous donations.</div>
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Battulga said he believes that the Chinese people will definitely win the battle against the epidemic at an early date and overcome the difficulties to realize the set goals of social and economic development under the strong leadership of President Xi.</div>
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Mongolia commends China's pursuit of neighborhood diplomacy featuring amity, sincerity, mutual benefit and inclusiveness, and stands ready to work with China to deepen mutual trust and support, enhance cooperation to promote greater development of bilateral relations, said Battulga.</div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0tag:blogger.com,1999:blog-2406406778634615564.post-463039199293273362020-02-20T13:06:00.002+08:002020-02-20T13:06:38.131+08:00Rio running late on Mongolia coal power<div style="background-color: white; box-sizing: border-box; color: #111111; font-family: sueca_hd_regular, Georgia, Times, serif; font-size: 18px; overflow-wrap: break-word; overflow: hidden; padding: 0px;">
A new $US924 million coal-fired power station for Rio Tinto's Oyu Tolgoi mine will not be built within the deadline set by the Mongolian government, triggering another round of combustible negotiations between the developing nation and its biggest employer.</div>
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Rio has sourced power for Oyu Tolgoi from nearby China through the first six years of mining at the site, but <a href="https://www.afr.com/companies/mining/mongolia-forces-rio-tinto-to-build-power-station-20180216-h0w70d" style="box-sizing: border-box; color: #0f6cc9; overflow-wrap: break-word; text-decoration-line: none;">in 2018 the Mongolian government demanded Rio build a domestic power solution ahead of a multibillion-dollar expansion of the copper mine.</a></div>
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Rio copper boss Arnaud Soirat warned in November 2018 that a new power station for Oyu Tolgoi would take six years to build if the Mongolian government insisted it be built at the Tavan Tolgoi coalfields, which are about 150 kilometres from the copper mine.</div>
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Within seven weeks of Mr Soirat's warning, Rio and its subsidiaries had given up hopes of building a power station at the mine site, and pledged to build one at Tavan Tolgoi by June 30, 2023; a construction period of four-and-half years.</div>
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But the Rio subsidiary that owns the mine, Turquoise Hill Resources, indicated on Tuesday that the power station would be delivered about a year late.</div>
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''The current schedule targets two units ... to be operational by June 2024,'' the company said in a market filing that appeared to vindicate Mr Soirat's 2018 warning.</div>
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Turquoise Hill said several project milestones articulated in the December 2018 power agreement with the Mongolian government had been missed.</div>
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The missed milestones and apparent delays come after Rio conceded last July that expansion of the mine would be delivered between 16 months and 30 months later than planned when the expansion was approved in 2015.</div>
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That delay added to existing delays on the project, with Rio saying in 2012 that it expected the underground expansion to be delivered in 2015.</div>
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The underground expansion, considered one of the world's best copper projects, is now expected to begin producing copper and gold some time between May 2022 and June 2023.</div>
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While challenges with geology and project delivery have contributed to the delays and multibillion-dollar cost blowouts, frequent flare-ups in the relationship between Rio and the Mongolian government have been by far the biggest source of delay to the Oyu Tolgoi expansion.</div>
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The power station delays create yet another source of tension for that fractious relationship, with Turquoise Hill saying it would now enter negotiations with the government in the hope of finding ''mutually acceptable'' alternative sources of power.</div>
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In the meantime, power for the mine is expected to be imported from China.</div>
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Rio said in 2015 that expansion of Oyu Tolgoi would cost $US5.3 billion, but in 2019 it said the cost would be between $US6.5 billion and $US7.2 billion, and those sums do not include the cost of the power station.</div>
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Rio hopes that renewable energy can provide some of Oyu Tolgoi's power, and the company announced this week it would spend $US98 million building solar power generation and battery storage at its Koodaideri mine in Western Australia.</div>
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The Oyu Tolgoi power station is expected to have a generating capacity of 300 megawat <span style="background-color: transparent; font-size: 1.125rem;">context, EnergyAustralia's Yallourn coal-fired power station in Victoria has a generating capacity of 1480 megawatts, with that capacity provided by four units which each boast between 350 megawatts and 375 megawatts of generation capacity.</span></div>
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<span style="background-color: transparent; font-size: 1.125rem;">Source:</span><a href="https://www.afr.com/" style="background-color: transparent;">https://www.afr.com/</a></div>
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</span>mongolian newshttp://www.blogger.com/profile/13226939345488217137noreply@blogger.com0