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AmCham Mongolia Daily Newswire

January 22, 2019

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DP says it will not vote to remove the Speaker of Parliament
The Democratic Party (DP) has announced that they will not vote in favor of removing the Speaker of Parliament, following amendments to the Law on Procedure of the Plenary Session. The DP says it wants to dissolve Parliament and to hold an irregular parliamentary election in spring. The DP has stated that its Members of Parliament will not be voting in favor of any documents except those dissolving Parliament.

The National Post /page 2/
Gold royalty program extension remains delayed
A discussion of a five-year extension of the gold royalty program was scheduled for January 18, along with a discussion of a proposed amendment to the Law on Minerals. Some standing committee members voted against the five-year extension. According to these MPs, the 2.5 percent royalty, reduced from 68 percent, is not stopping gold sellers from using legal loopholes or preventing gold mining companies from selling their gold to the government as private citizens to avoid income taxes, which negatively affects state revenue. Further discussion of the program's extension will be required for its approval.

The Century News /page 5/
Tavan Tolgoi officials to attend PDAC 2019
The 87th annual Prospectors and Developers Association of Canada (PDAC) forum, exhibition, and investors meeting will be held in Toronto, from March 3 to 6. An estimated 25,000 mining industry representatives from 135 countries will be attending PDAC this year. Mongolian representatives will be attending to exhibit and to provide information to forum attendees about Tavan Tolgoi’s plans to release IPOs on foreign stock exchanges. Industry analysts say the forum could have great significance for Mongolia in a time of rapid infrastructural and industry development.
The Century News /page 5/
Rio Tinto’s dividends per share expected to reach 1.74 USD next month
The price for shares of Turquoise Hill Resources rose on the Toronto Stock Exchange by 3.35 percent, reaching 2.16 CAD, and Rio Tinto shares increased by 0.05 percent, reaching 80.69 AUD in the Australian stock market. UBS Group analysts have predicted that Rio Tinto might sell some of its projects to generate 1.9 billion USD in dividends and spend 2.5 billion USD to finish ongoing programs.  Rio Tinto might sell assets such as the Dunkerque aluminum smelter in France, the Grasberg copper mine in Papua New Guinea, and the Kitimat smelter Canada. UBS Group analysts have also predicted that dividends will be 1.74 USD per share next month.
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