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AmCham Mongolia Daily Newswire

October 3, 2018

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Mining sector expected to generate 3 trillion MNT in state revenue in 2019 
Cabinet forecasted state revenue for 2019 to be 9.7 trillion MNT, while revenue was projected to be 7.2 trillion MNT in 2018. As for 2019 state expenditures, they've been estimated at 11.6 trillion MNT, while these were set at a maximum of 9.7 trillion MNT in 2018. The mining sector is expected to generate 3 trillion MNT ( or 27.1 percent) of the state's revenue in the upcoming year, a YOY increase of 1.3 trillion MNT. State authorities have projected the price for coal to be 75.9 USD per ton and copper at 6,222.2 USD per ton.

Daily News /page 1/
B. Batzorig: 10 million USD to be allocated for vegetable storage cellars
During a session of the Environment and Agriculture Standing Committee of Parliament on October 2, Minister of Food, Agriculture and Light Industry B. Batzorig presented a preliminary report on harvesting and current challenges. As of October 1, wheat harvesting completion was at 22.1 percent and vegetable harvesting completion stood at 81.1 percent nationwide. Minister B. Batzorig stated, “The Government of Poland agreed to provide a soft loan of 50 million USD to Mongolia, 10 million USD of which will be spent for building vegetable storage cellars: two in Ulaanbaatar and three in Darkhan-Uul and Selenge provinces.”

The National Post /page 2/
Kharmagtai project to be carried out over 10 years
Australian Stock Exchange-listed Xanadu Mines Ltd plans to complete the preliminary economic assessment for the Kharmagtai gold-copper project in the fourth quarter of the year. Managing Director of Xanadu Mines Andrew Stewart reported that the Kharmagtai project will be carried out for a decade, and that stakeholders have invested 25 million USD in the project over the last 3-4 years. The price of Xanadu Mines stock has dropped by 50 percent, to 0.14 AUD, since the beginning of 2018.   
The Official Gazette /page 11/
239 individuals issued mortgage loans in September
In September, the Bank of Mongolia (BoM) allotted 16 billion MNT to commercial banks for mortgage loan financing, and 239 individuals were approved for mortgage loans, bringing the total number of mortgage borrowers to 2,724 in 2018. In 2018, the BoM and Cabinet planned to finance over 300 billion MNT in mortgage loans. Officials report that mortgage loan financing for 2019 will not exceed that of 2018, due to its impact on import growth.
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