May 2, 2018

President presents State Gerege awards to the three best development projects of 2017


Erel Group's BUK-1 precast cement factory, the National University of Mongolia Library, and New Residential Zone in Dalanzadgad soum, Umnugobi Province were awarded the State Gerege by President Kh. Battulga, in recognition of being 2017's best development projects. During the award presentation ceremony, President Battulga stated, “Productivity and quality are the main tools for accelerating the development process and for gaining the skills to turn resources into development output. There are many issues, such as pollution, a lack of housing, and unemployment. Erel Group’s BUK-1 precast factory project is important for solving these problems. The library of the National University of Mongolia introduced international standards and has had approximately 100,000 readers. The construction of the New Residential Zone in Dalanzadgad soum demonstrated that it is time to renew planning in the 21 provinces.”

Keywords: President Kh. Battulga, innovation   The Official Gazette /page 2/

Livestock Health, Risk-free Products campaign commences


The General Agency for Specialized Inspection commenced the Livestock Health, Risk-free Products campaign on May 1. As part of the month-long campaign, officials have planned several measures to prevent and fight infectious diseases. Head of the Food and Agriculture Inspection Division of the General Agency for Specialized Inspection D. Batjargal reported that special training and counseling sessions will be organized. The proper disposal of infected livestock carcasses, which can pollute the environment and spread infectious diseases, is also being planned. The agency will collaborate with the National Emergency Management Agency to carry out the campaign.

Keywords: livestock, agriculture, food safety   The Century News /page 5/ 


S&P affirms Mongolia’s stable credit rating


The ratings agency Standard & Poor’s (S&P) affirmed its long-term sovereign credit rating for Mongolia at “B-” and its short-term sovereign credit rating of “B” with a stable outlook. S&P warned about risks in revenue generation, despite positive performances in economic and budget indicators due to commodity price increases. As there remains a need to improve institutional governance, S&P has left its credit ratings for Mongolia unchanged. According to S&P, Mongolia's ratings could rise if the country’s economy performs better than the agency’s projections for the coming year. However, S&P warned that it would lower its ratings for Mongolia in the case of negative performances in external sectors and if government debt rises. S&P analysts have projected that Mongolia's GDP will grow by five percent in 2018.  

Keywords: Standard & Poor's, economic performance   Today /page A12/

online story  

Kincora Copper reports on its 2017 performance


Toronto Stock Exchange listed Kincora Copper Limited operated with a loss of 3.8 million CAD in 2017, a year-to-year increase of 2.3 times. In 2017, the company’s stock-based compensation rose to 1.89 million CAD, resulting in a deficit increase. Last year, Kincora Copper drilled 22 holes with an area of 6,878 square meters in Zuun Tsagaan Suvarga, Bayan Tal, and Argalant. Officials from Kincora previously reported that they will focus their activities on their Zuun Tsagaan Suvarga and Khurel Uneg projects in 2018.         

Keywords: mining, TSE, coal

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