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Daily NEWSWIRE
August 24, 2018
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Government

China to increase investment in non-mining sectors

Summary:

At the invitation of Foreign Minister D. Tsogtbaatar, Minister of Foreign Affairs of the People’s Republic of China Wang Yi is paying an official visit to Mongolia. On August 23, the officials signed an intergovernmental memorandum of understanding on marking the 70th anniversary of the establishment of diplomatic relations between Mongolia and China, as well as an action plan for cooperation at the inter-ministerial level. During the press conference, Minister D. Tsogtbaatar stated, “Raising the bilateral trade turnover to 10 billion USD was discussed, to reduce our economic dependence on foreign loans and aid and to ensure stable and sustainable development. We also agreed on increasing China’s investment in the non-mining sectors of Mongolia.” On August 23, Minister Wang paid a courtesy call on President Kh. Battulga.

Keywords: People’s Republic of China, bilateral relations   Today /page A2/


Deputy Prime Minister on an official visit to China 

Summary:

Deputy Prime Minister U. Enkhtuvshin is visiting the People’s Republic of China to attend the first Smart China Expo on Smart Technology. As part of the visit, Minister U. Enkhtuvshin met with Vice Premier of the State Council of China Han Zheng. During the meeting, Minister U. Enkhtuvshin noted that Mongolia is willing to collaborate with China to establish a joint IT park as part of the Belt and Road initiative. He also asked to expedite discussion of the border entry checkpoints along the Gashuunsukhait-Gantsmod railway and proposed building a new railway crossing at the Khangi-Mandal border checkpoint.

Keywords: Smart China Expo, smart technology   The National Post /page 2/


mining

ERD to release preliminary economic assessments for its Mongolian gold projects

Summary:

Erdene Resource Development (ERD) Corp., dual-listed on the Mongolian Stock Exchange and the Toronto Stock Exchange, is planning to release an initial mineral resource estimate report for its flagship Bayan Khundii gold project in the third quarter of 2018, as well as preliminary economic assessments for its Altan Nar and Bayan-Khundii projects in Q4. The company is transitioning its projects from exploration to production. ERD’s exploration expenses amounted to 3.1 million CAD in the first half of 2018, a decrease of 34 percent compared to the same period in 2017. 

Keywords: gold, Erdene Resource Development   The Official Gazette /page 5/


online story  

Usukh Zoos to commission a coal processing plant in 2019

Summary:

Mining companies operating at the Nariinsukhait coal mining complex, including  MAK, Southgobi Sands, and Usukh Zoos, plan to export enriched coal to China and have started building coal processing plants. General Director of Usukh Zooc LLC Ch. Chinbat announced that the company will commission a coal washing plant in 2019. Both MAK and Southgobi Sands have completed construction of their own processing plants.

Keywords: coal export, Nariinsukhait, China, coal washing   www.bloombergtv.mn


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