US$5,38 b development capex is required to complete the defined scope introduced Mr Pires along with US$2,88 b to be spent for production ramp up.
English
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Oyu Tolgoi to produce first underground ore by 2020
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Mongolia exported 4000 tons of cashmere
55% of combed cashmere was exported to Italy, 39% to UK and remaining to India and Japan.
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Breaking news: Licenses of Centerra Gold are suspended
Noyon mount in Mandal soum of Selenge aimag. The court convened today (May 19, 2016) at 10.30 and resolved to temporary suspend the licenses.
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80% of Mongolia’s petroleum market is supplied by Rosneft
Rosneft increased its petroleum product sales in 2015 by 24% from previous year with total volume reaching 777, 000. The increase allowed the company to position itself on the Mongolian market supplying 80% of Mongolia’s petroleum market.
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Gross output reached MNT 2466.9 billion
The volume of industrial products sold reached MNT 3052.3 billion in the first 4 months of 2016, 66.4% or MNT 2027.3 billion was exported.
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Balance of Payments for Quarter 1 of 2016
Capital and financial accounts showed surplus of US$ 140.9 million, increase of US$ 176.9 million from the previous year which is mainly caused by rise of foreign direct investment in Mongolia by 245 percent or US$ 278.3 million.
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Draft resolution on Tavantolgoi development presented to the Parliament
MP L.Erdenechimeg submitted the resolution on development of Tavantolgoi coal mine to the Speaker of the Parliament.
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Inflation rate declined to 2.1%
The rate is stable at low rate for 10 consecutive months.
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Mongolia set to pay $70 mln to end Khan mine dispute-source
May 13 Mongolia is ready to deliver a $70 million payment to Toronto-listed uranium miner Khan Resources, a government source said, wrapping up a seven-year dispute that tarnished the country’s reputation as a hot mining destination.
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Luvsanvandan Bold MP: principal revolution in Human rights
MPs provided an information about the laws and highlighted that the new laws shall be enforced from September 1, 2016. We have interviewed head of the Working Group, MP Luvsanvandan Bold.
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Call for action: Mazaalai bear to be commemorated in ACEM logo
Mazaalai bear is the rarest animal in the world. The endangered Mazaalai bear inhabits in Gobi region of Mongolia. There are only 28 mazaalai bears left in the whole world.
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Prime Minister Saikhanbileg checks ASEM preparation progress
During the tour, ASEM’s six working group heads accompanied and briefed the Prime Minister on their respective areas.
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Russians stopped financing of Shuren hydropower plant
Russia’s Environmental Ministry made a statement that Russia could stop financing of hydropower plant construction.
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President to visit South Korea
President Ts.Elbegdorj shall arrive to Seoul on Wednesday (May 18) and stay for three days.President Ts.Elbegdorj shall arrive to Seoul on Wednesday (May 18) and stay for three days.
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314 candidates to run for City Council
Yo.Gerelchuluun, head of the UB city Election committee held a media briefing today. According to mr Gerelchuluun 314 candidates from 13 parties and two coalitions submitted their documents to run for UB City council elections.
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Unemployment rate increased to 11.6%
The State Registration and Statistics General Office provided the socio-economic status for the month of April.
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BoM holds FX auction
On May 12th, 2016, the BOM has received MNT Swap agreement buying bid offers equivalent to USD 49.5 million and USD swap agreement selling bid offers equivalent to USD 21.5 million from local commercial banks respectively and the BOM accepted all of the bid offers.
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The Asian Development Bank will finance US $ 287 million
ADB confirmed its assistance program for Mongolia in 2016 at $287 million, comprising concessional loans from its own and market-raised sources, and grants.
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Owner of Petrovis, top oil retailer listed on Panama papers
Panama papers Davaanyam
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State budget deficits MNT663.6 billion
It means that income totaled to 89.1% and expense 75.1% with total shortage of MNT 663.6 billion.