However, she will continue to work for the company as a consultant and will remain Petro Matad's appointed representative at the Mongolian Petroleum Exploration and Production Association.

Shares in Petro Matad were down 2.2% at 10.38 pence on Monday.

Friedland transformed what could have been a set of exciting drill results into 43 holes of “global significance in the copper world”.

Not that he doesn’t have a lot to work with.

Ivanhoe’s May update lifted Kamoa-Kakula’s resource base above a billion tonnes for the first time and thanks to grades that are a distant memory for Chile’s giants, the in-situ value is an eye-watering $193 a tonne at today’s prices.

Friedland said he’s looking forward to giving shareholders a “substantial” resource expansion in time for Christmas:

“Kamoa-Kakula already is independently ranked as the fifth-largest copper deposit in the world. Seeing the unprecedented rate of growth of high-grade copper resources since drilling began at Kakula in May 2016, I am confident now that soon it will be among the top three.

“The remarkable consistency of the ultra-high-grade copper mineralization at the Kakula Discovery is unlike anything geologists have ever seen in the DRC’s Copperbelt. The discovery remains open in virtually all directions, so the real question is, how much bigger and better is Kakula going to get?” Mr. Friedland added.
Eleven of the 14 rigs at the project are drilling to define resources over the entire strike length of Kakula which now extends at least 12km – an increase of roughly 60% since May.

Ivanhoe is clearly working the project hard. An updated preliminary economic assessment for two mines of 6m tonnes per year each is expected during the fourth quarter as is a base case pre-feasibility study for the the first phase of development of the deposit which Ivanhoe discovered a decade ago.

If things pan out as predicted Kamoa-Kakula would only be topped by Escondida in Chile and Australia's Olympic Dam in terms of sheer size. The DRC project (close to another venerable copper name; Kolwezi) will at the same time overtake Grasberg in Indonesia and Chile's Collahuasi in the rankings.

Ivanhoe and joint venture partner Zijin Mining each own just under 40% of the project and the DRC government 20%. China's Zijin came on board at the end of 2015 for what now seems a steal at not much more than $400m. Even considering at the time copper was barely holding above $2 a pound ($4,500 a tonne).

On Tuesday the bellwether metal was trading just above $3 / $6,650 consolidating a sparkling run since the beginning of June.

Acton spent eight years with WhatsApp, which Facebook bought in 2014 for $19 billion in cash and stock.

A Stanford alumnus, Acton co-founded WhatsApp with Ukrainian immigrant Jan Koum in 2009. The duo worked at Yahoo before starting WhatsApp.

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S.Bayartsogt talked about current activities of the Ministry in fighting against crimes, detection of crimes and ensuring the public order, and then said Mongolia wanted to cooperate with the UEA in strengthening the collaboration between the Ministries, sharing experiences in law enforcement and training the human resource and providing them with mid-career training.

The Minister said that the two countries started their cooperation in the law enforcement sector and made an agreement to collaborate in empowering the law enforcement and police bodies and exchanging experience during his participation in an international forum of the Interpol held in Abu Dhabi and official meeting with Saif bin Zayed Al Nahyan, the UAE Deputy Prime Minister and Minister of Interior.

At the meeting, the Mongolian side put forward a proposal to establish a cooperation memorandum between the Ministries and presented to the UAE a draft of the memorandum.

By the visiting program, the UAE Interior Ministry delegation will hold a meeting at the General Authority for Implementing Court Decisions and will get acquainted with activities of the General Police Department, the National Institute of Forensic Science as well a prison.

Sources familiar with the situation said that the banks sent a notification to the North's embassy in Beijing and its consulate general in Shenyang.

They said it demanded the bank accounts of all North Koreans, including diplomats, be emptied by the end of August.

Since then, financial transactions involving North Koreans are said to have almost ceased.

The sources added that North Koreans in principle aren't allowed to open new accounts.
It is rare for the Chinese banks to take such strict measures on North Korean diplomats, as even under UN sanctions each is allowed to open one account.

In June, the US government unilaterally punished a bank in Dandong, Liaoning Province, for allegedly facilitating the transfer of money for companies involved in the North's missile development.

The latest move is seen as China's attempt to show that it's taking a tougher line on the North.

However, it remains to be seen how much impact the measures would have on Pyongyang.

Many North Korean merchants in China are said to be doing business in cash or using the accounts of Chinese trading partners.

A dry port (sometimes inland port) is an inland intermodal terminal directly connected by road or rail to a seaport and operating as a center for the transshipment of sea cargoes.

Located at Ordos Xinjuyuan Industry Chemical Company and co-built by China's large seaborne Tangshan port, the inland port can speed up customs clearance and reduce container handlings for coal cargoes from Inner Mongolia to the Bohai Rim port.

It's expected that Inner Mongolian coal cargoes can save three days to Tangshan port through the original route, and freight cost can be lowered by about 8 yuan/t.

Ordos Xinjuyuan Industry Chemical Company, invested by Inner Mongolia Tiexin Coal Chemical Group Co., Ltd. under Hohhot Railway Administration, is the largest coal transport company along Baoxi railway (Baotou-Xi'an), owing the biggest enclosed coal warehouse in Northwestern China, which can pile up 700,000 tonnes at most.

The milestone was technically hit Friday, with the Treasury Department settling its accounts at the end of the day with $20,162,176,797,904 of debt outstanding. Of that debt, the Treasury said $14,622,661,213,046 is held by the public, while $5,539,515,584,857 is held by various parts of the government, also known as Intragovernmental Holdings. 

The amount of debt held by the federal government had been stagnant since March due to the debt ceiling, or the statutory limit of debt the Treasury is allowed to hold at any one time.

Since the limit was reimposed in March, the Treasury used so-called "extraordinary measures" to keep the amount of debt at the roughly $19.84 trillion cap.

On Friday, President Donald Trump signed into law a bill that, among other things, suspended the debt ceiling until December 8. That means the Treasury can borrow freely until that date, when the outstanding amount becomes the new debt ceiling and extraordinary measures must begin again unless new legislation is passed.

That led to the roughly $317 billion jump in the amount of debt outstanding, likely to refill the Treasury's ability to use those extraordinary measures in three months if needed.

Given the jump in funding, the Treasury could hold out until at least sometime in early March on the extraordinary measures. If all falls right with corporate and individual income tax receipts, that could be extended through the summer of 2018, analysts say.

1 - week CBBs
1-week CBB plays an important role in managing the reserves of banks and is the core monetary policy instrument of the Bank of Mongolia. The interest rate on CBB will be the policy rate of the BOM and will serve as a guide interest rate on the interbank market. It was first introduced in July 2007, with fixed rate and unlimited bidding, and traded on a regular basis every Wednesday at the interbank market. This had attracted the banks’ interests providing the possibility for the banks to place their excess reserve in short term asset. Since the introduction of this instrument, there has been a substantial change in the way banks manage their reserves. For the favorable adjustment of CBB rate and loan principle along with the well balance of togrog and foreign exchange, 1 - week CBB auction has been held in the form of competitive interest rate since May 2010. In doing so, the upper and lower limits of the bank bids are to set +/- 2 per cent of the policy rate.

Samsung is banking on the device to protect its market dominance as it competes with Apple Inc’s latest iPhones due to be unveiled later on Tuesday. Note 8 sales begin in the United States, South Korea and elsewhere on Friday.

Pre-orders reached about 650,000 Note 8 handsets over five days from about 40 countries, making the initial response “very encouraging,” DJ Koh, president of Samsung Electronics’ mobile communications business, said at a media event.

The device succeeds the short-lived Note 7, whose battery fires resulted in Samsung pulling the device from the market after just a couple of months at a cost of billions of dollars.

Its reputation tarnished, the world’s biggest smartphone maker by market share nevertheless decided to retain the Note brand after a survey showed 85 percent of 5,000 Galaxy Note users expressed brand loyalty, Koh said.

The Note 8’s U.S. price of $930 to $960, including dialling and data plans, begins an era of premium-priced handsets which analysts expect to be joined by $1,000-plus iPhones.

Apple is widely expected to unveil a special edition iPhone commemorating 10 years of the handset, equipped with edge-to-edge screen and augmented reality, that will compete with the Note 8 for pre-holiday season sales in Western markets.

In China, the Note 8 is tasked with reviving fortunes in the world’s biggest smartphone market where local handset makers such as Huawei Technologies Co Ltd [HWT.UL], Oppo, Vivo and Xiaomi Inc [XTC.UL] reduced Samsung’s market share to 3 percent in April-June, showed data from Counterpoint Research.

Koh said it will take time to recover in China but expects changes this year such as appointing a new mobile chief, restructuring and focusing on key buyers to be effective.

Koh also said Samsung hopes to showcase a foldable handset next year but that technological hurdles must be overcome before a decision can be made.

“We are digging thoroughly into several issues we must overcome, as we don’t want to just make a few, sell a few and be done. We want to hear that Samsung made a very good product.”