No 1 producer joins copper rally skeptics as price hits new 3-year high www.mining.com

December copper futures trading on the Comex market in New York made fresh highs on Tuesday on signs of supply tightness.

Mongolian Mining Corporation's profit reaches USD 311 million www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolian Mining Corporation (“MMC” Group) announced its semi-annual interim results on August 28.

The Russian troops have thrown to Mongolia on doctrines www.newswell.info

Divisions of the Eastern Military District are thrown to Mongolia for participation in joint exercises Selenga. Have reported about this TASS in district press service. Divisions are developed on the Zuunbayan ground in the central Mongolia. "Divisions have unloaded military equipment and have made a march to the field camp which was beforehand prepared by the Mongolian side" — have reported in the district. The ceremonial opening of doctrines will be held on Monday, August. This year they for the first time will pass in difficult climatic conditions of the Gobi Desert. A subject of maneuvers — working off of interaction at liquidation of illegal armed groups. Doctrines will last till September, more than one thousand servicemen on both sides are involved in them. TASS reports that from the Russian side to Mongolia are thrown about people from structure й the separate motorized rifle brigade which is constantly deployed in Kyakhta Buryatia. Joint exercises of armed forces of Russia and Mongolia are conducted on an annual basis since a year. About one year they were called Darkhan, with го — Selenga.

Putin, Mongolian President Agree to Hold Talks at Eastern Economic Forum www.sputniknews.com

Russian President Putin and Mongolian President Battulga agreed to conduct negotiations during the Eastern Economic Forum in Russia's Vladivostok in September.
BUDAPEST (Sputnik) — Russian President Vladimir Putin and his Mongolian counterpart Khaltmaa Battulga on Monday agreed to hold detailed talks on the sidelines of the Eastern Economic Forum in Russia's Vladivostok in September.

Mobile Bank transactions reach MNT 3.1 trillion www.montsame.mn

Ulaanbaatar /MONTSAME/ The Bank of Mongolia’s mobile bank statement reports that Mobile Bank transaction in the first quarter of 2017 reached MNT 3.1 trillion, showing 2.7 times increase compared to the same period of previous year.

Mongolian export increase by 38 percent www.news.mn

Mongolia traded with 145 countries during the first seven months of 2017. Cumulative trade turnover reached USD 5.9 billion; export accounting for USD 3.5 billion and imports for USD 2.3 billion. During the reporting period, the total trade amount increased by USD 1.5 billion or 33.9 percent, exports by USD 979.2 million or 38.5 percent and imports by USD 504.1million or 27.5 percent on the previous year.

L.Purevsuren: Mutually beneficial and friendly cooperation will be exercised in ties with China and Russia www.gogo.mn

The following is an interview with Mr. L.Purevsuren, the Foreign Policy Advisor to the President of Mongolia.

-Have the dates for foreign visits of the new President been set? From what we have heard, the President is starting his visits abroad from the two neighboring countries. 
-President Battulga will attend the Eastern Economic Forum, expected to take place between the 5th and 7th of next month in Vladivostok of Russia, at the invitation of the Russian president. He is not only attending this forum, but also plans to pay a working visit. It is expected that our President will exchange views on Mongolia-Russia relations with Vladimir Putin, the President of the Russian Federation.

-It has been reported that the President is also heading to Budapest at the end of this month for the World Judo Championships. 
-Although the President had been elected the head of state, he is still leading the Judo Association of Mongolia. The World Judo Championships will be held in Budapest, later this month, as well as the election for IJF President. It is expected of him to participate in this event as a leader of national judo association of the country. However, of course, the Hungarian side will welcome the President as the head of state of another country. It is a private visit for the President and all costs will be covered by the President himself.

-What outcomes are expected from the Eastern Economic Forum for Mongolia?
-It will be the first time for Mongolia to take part in an important regional economic gathering in Northeast Asia on the level of head of state. The President will also be accompanied by representatives of businesses, related officials and several ministers. Russia, China, Japan and South Korea and other regional countries are sending high-ranking representatives of politics and business. EEF will also incorporate a Mongolia-Russia Business Forum, during which we plan to present major projects intended to be run by the Government.

-What issues can be resolved during President’s visit to Russia?
-Our two countries have active and friendly ties in politics. However, it is not the case when it comes to economic cooperation. We need to renovate the joint railroads and widen the corridors. There are also the unresolved problems of energy cooperation and infrastructure. The foremost priority of the President will be export-targeted production of Mongolia. The number of livestock in Mongolia is already exceeding 80 million. The Siberian market used to be a platform for Mongolia. Unfortunately, as of today, we are being unable to export meat, wool and leather on this market. This matter will be considered very seriously during the meeting of two presidents. The President has set a goal to bring the Mongolia-Russia ties to new heights. The dialogue, in my opinion, will become an important step to determine the future perspective of relations between Mongolia and the Russian Federation.

-What are the priority areas of foreign policy, as defined by our new president?
-In foreign policy, continuance is the most crucial. The concepts of National Security and Foreign Policy of Mongolia both provide that maintaining balanced and equal ties with the two neighbors is a priority in the country’s foreign policy. Therefore, President Battulga attaches great importance to ties with the neighbors. Until 1990, Mongolia’s southern border was closed and we had relations only northward. Nevertheless, economic ties with our northern neighbor have almost disappeared within the last 27 years. The economy has inclined towards the south. The President means to fix this. Nonetheless, it will not mean that Mongolia will be paying all its attention to the relations with Russia and limiting the cooperation China, in the sake of what is reflected in the Concept of National Security. Relations with China will be expanded in the future, as well. The President wishes to upgrade Mongolia’s relations with Russia to the level of that between Mongolia and China in a very short period. Because our new president comes from business sector, he follows a principle that any deal must be mutually beneficial, so that it can survive in a long-term. 
He also takes a stance to maintain the development of “third neighbor” policy. In that order, he will also hold meetings during the Vladivostok forum with the Prime Minister of Japan and the President of the Republic of Korea. High technologies are the key to industrial development. However, it needs major financing, which requires the involvement of third neighbors. Another focus will be this.

-Mongolia has an observer’s status in the Shanghai Cooperation Organization (SCO). Can this status be changed?
-Mongolia is the first observer in the Shanghai Cooperation Organization, and 12 years have passed since the status was granted. Situations in SCO have been changing, as well. At first, it was the “Shanghai 5”, and now it has become “Shanghai 6”. During the last SCO Summit in Astana, India and Pakistan joined SCO afresh. With these entries, SCO has now turned into a major organization, broadening its horizons throughout the region. Mongolia is watching very closely where this alliance heads. We need to carefully observe whether it is going to be an economic platform or a military-political union. Mongolia should keep up with other countries if SCO is going to be an economic alliance. This means the issue of Mongolia’s entry to SCO also depends on the organization’s own motives.

-Mongolia is left out of the Belt and Road Initiative of China. Mongolia is supposed to be one of its closest neighbors. However, the route to London and gas pipes from Russia are not passing through Mongolia. Will the President implement policies in order to get involved in the Belt and Road?
-It may seem very obvious that our country is left out, because previously the Trans-Siberian railway, the only railway that used connect Asia with Europe passed through Manjuur and Mongolia, but today, the situation has changed and there are more corridors and passages. We have obviously been trying to be an active player in this. This is the reason why the initiative of Economic Corridor between Mongolia, Russia, and China has come up in the first place three years ago. The agreement was signed a year ago by the three sides. A total of 32 projects have been designated, being considered the most viable. Most of these projects include works that have to pass through Mongolia to connect Russia and China. This is high time we decided which project to start with.

-Is it true, during your attendance at the inauguration ceremony of the Iranian president, you have told a local media that Mongolia is against the US sanction on North Korea?
-It is false information. An inauguration ceremony was held on August 5 for President of Iran Hassan Rouhani after him being re-elected to the office. As the Foreign Policy Advisor and special envoy of the President of Mongolia, I attended this ceremony, which attracted delegates from 105 countries and 25 international organizations. Heads of state of 20 countries and many other high-ranking officials were invited. I was welcomed at the airport by a head of Standing Committee of the Parliament of Iran on August 4. We talked for a while and headed to the hotel. During our meeting, an Iranian TV Channel was recording us. I have not made any statement at that time. I would like to responsibly note that no statement have been made about Mongolia being against the US sanctions. As a member of the United Nations, Mongolia is obliged to follow the decisions made by the UN toward the Democratic People’s Republic of Korea, especially the sanctions on that matter.

Markets rattled by North Korean missile launch www.cnn.com

Russian power generators to sell excess capacity to bitcoin miners www.rt.com

Companies operating power plants in Russia have started leasing generators with excess capacity to cryptocurrency miners, Vedomosti daily reports.
According to the newspaper, the offer is a boost for crypto miners, as electricity bills consume a significant portion of their profits.

Glencore to offload second coal mine in Australia in less than three months www.mining.com

Miner and commodities trader Glencore (LON:GLEN) said Monday it has begun the sale process for a second Australian coal mine as it readies to pay up to $300 million for shares in Yancoal Australia, as part of a deal that allowed the firm to put its hands on Rio Tinto’s (ASX, LON:RIO) former coal assets in the Hunter Valley.