January 12, 2017
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Cabinet to support tourism with the Chinggis Khan Project

Summary: Cabinet’s session covered several issues, one of them being the Chinggis Khan Project. The project aims to promote the Mongolian tourism sector and to increase the number of foreign visitors to Mongolia. Exhibitions will be held at Sukhbaatar Square, with the goal of attracting 1.4 million tourists, generating an estimated 4-5 billion MNT in taxes for the state. Around 2.5 million USD will be invested in the Chinggis Khan Project, and the project team expects tourism revenue to cover the initial investment costs. Prime Minister J. Erdenebat assigned Erdenes-Tavan Tolgoi and Erdenes Mongol with the duty of promoting and cooperating on the Chinggis Khan Project.

Keywords: Cabinet, tourism   The Century Post /page 1/

President holds a press conference to address air pollution

Summary: The President of Mongolia, Ts. Elbegdorj, held a press conference to address air pollution. The President, Speaker of Parliament, and the Prime Minister have agreed that the negative effects of air pollution are a threat to national security. The President stated, “The right to live in a healthy environment is a right guaranteed by the Constitution, and air pollution has reached critical levels. When I was elected, in 2009, I was the first president to warn against air pollution and I received an award from the United Nations for having the most initiatives against air pollution.”

Keywords: air pollution, President, environment   The National Post /page 1,2/


Gold mineralization found at the Bayan Khundii gold project

Summary: Toronto Stock Exchange listed Erdene Resource Development Corporation (ERD) reported on the results of the nine diamond drill holes carried out at its Bayan Khundii gold project. The drilling expanded to a new gold zone, named Midfield, and gold mineralization was found in the area. The President and CEO of Erdene Resource Development stated, “Results indicate that significant gold mineralization lies under younger cover at Bayan Khundii, greatly expanding the footprint of this high-grade, near surface discovery, and support our belief that this gold system has considerable size potential.” The company is planning additional drill programs to test additional target areas. ERD is carrying out the Altan Nar (Golden Sun), Khuviin Khar, Nomin Tal, and Zuun Mod projects in Mongolia. 

Keywords: Erdene Resource Development, gold   Today /page B1/

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Erdenet-Ovoot railroad’s placement approved

Summary: The Erdenet-Ovoot’s railroad placement was approved by Cabinet during its regular session. The railroad project will be carried out by Aspire Mining, listed on the Australian Stock Exchange. The Cabinet believes  that with the completion of the railroad, products from mines in Khuvsgol, Bulgan, and Orkhon provinces will be able to enter the market and that the tourism sector will see develop further. Companies will be able to supply minerals to industrial complexes such as the one located in Sainshand. By expanding the rail system, a new railroad can be built to connect China and Russia. The railroad will be able to transport 20 million tons of goods, and the railroad's fundamental infrastructure is set to cost 1.3 billion USD according to preliminary estimates. Completion of the railroad will facilitate the transport of 10 million tons of goods from the Ovoot mine. Completing the Ovoot-Artssuuri railroad would connect the mine to Kyzyl in Russia's Tuva Republic. Up to 47 million tons of coal could be transported annually from Ulug-Khem mine, which has proven reserves of 2.5 billion tons.

Keywords: Erdenet-Ovoot railroad, Aspire Mining

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia