With the railroad put into operation, about 10,000 new jobs will be created in the sector alongside putting about 200 mineral deposits of the eastern region into economic circulation.

Aside from the mining sector, it is expected that the railroad will have a crucial impact on the sectors of food, and animal husbandry as well as the leather industry and its logistics, further developing the region’s relations and partnership.

PM U.Khurelsukh said, “More specifically, the construction of the Tavantolgoi-Zuunbayan railroad is currently in progress. And the preparations for the construction of the Sainshand-Altanshireet oil refinery that will take place from next autumn has been completed. We are currently studying together with the corresponding professionals whether the oil should be transported through pipelines or railroad from the Tamsag area of Matad soum, Dornod aimag.”

He also noted that various types of factories such as oil refineries and commodity factories can be developed when the industrial park is established in Sukhbaatar aimag.

Prime Minister U.Khurelsukh met with the authorities of the company and exchanged views on possibilities of further cooperation, current situation and prospects of the extraction.

“Petro China Daqing Tamsag” company has been producing 7.5 million tons of oil since the Production Sharing Agreement was signed in 2005. The oil extracted from the field 19 is exported through Bichigt port of Sukhbaatar aimag, while the oil extracted from the field 21 is exported through Bayankhoshuu port. 2015 was the peak year of oil extraction, reaching 1 million tons, however the extraction amount is decreasing in recent years with annual average extraction of 800’000 tons, reported the company. Still, the company officials said that they can supply oil to the refinery to be built by increasing the oil extraction.

During the PM's visit, the Professional Inspection Agency introduced the results of the inspection, made in the company. According to the inspection, 'Petro China Daqing Tamsag company should secure chemical hazardous waste storage and waste water to the environment and make amendments to the Production Sharing Agreement. In addition, the Professional Inspection Agency considers it necessary to charge royalty on oil extraction, to alter customs tax exemptions of companies and subcontractors and to make foreign labors pay social security premium to Mongolia.

Lijiang was the final stage of 100 kilometers race, with an average altitude of more than 2,500 meters, which was the highest one in all six stages with a number of difficult climbs. Baasankhuu and Marg Fedyna from Canada won the men's and women's categories respectively in this stage with 3:13:58 and 3:59:02.

"It's an amazing feeling to get the title," said Baasankhuu, who praised his teammates for their support, "Today my focus is not good, thanks to my teammate, they always keep pushing me," he said.

"Granfondo is special to me, I'm so proud to be a part of it. I am happy and sad now, because all the stage races are finished. I will come back," Baasankhuu added.

In the women's race, the Netherlands' Annemiek Stegehuis who won four stages in the event, got the title.

Yunnan Granfondo has been held every year since 2014. This year's competition covers 650 kilometers from Mangshi to Lijiang, and encompasses a variety of terrain. More than 1,000 cyclists from 36 countries and regions took part in this year's event.

The fresh figure, which includes expanded plant capacity, additional mining fleets and pre-production ore stockpile, will allow the company to begin production at the mine in the third quarter of 2021, Ivanhoe said.

Capacity of Kakula’s processing plant modules increased by 26% in the three months to Sep. 30, from 3 Mtpa to 3.8 Mtpa, significantly boosting projected early-stage copper production, the Toronto-based miner noted.

Billionaire Robert Friedland’s company has been working on Kamoa-Kakula for ten years. In 2015, China’s Zijin Mining Group got on board, becoming Ivanhoe’s partner in the project. Citic Metal, another Chinese firm, followed suit last year, becoming Ivanhoe’s largest shareholder.

Friedland, who made his fortune from the Voisey’s Bay nickel project in Canada in the 1990s, has repeatedly stated that Kamoa-Kakula has the potential to become the world’s second-largest copper mine.

Once fully developed, the mining complex could produce 382,000 tonnes of copper a year during the first 10 years, climbing to 700,000 tonnes of copper after 12 years of operations.

Analysts also believe the giant mine could restore the DRC’s historical position as one of the world’s top copper producing countries.

Kakula would be the first of at least three mines planned for the Kamoa-Kakula copper complex.

Shall we start from the spending of the money raised in initial public offering?

-As of today, our company has invested about MNT 13 billion of which, MNT 10 billion has been raised from the IPO. The company also spent the money, including the MNT 3 billion from accumulated net income on four major projects.

-According to the recent announcement, Tumen Shuvuut reported a 52 percent increase in net profit. How will the company benefit from the gain?­

The economic situation of Mongolia was relatively stable in 2019, reflecting on our company’s performance. The company’s net profit reached MNT 2.6 billion in 2018 and MNT 2.9 billion in the third quarter of 2019. We are aiming to increase this amount to MNT 4 billion by the end of 2019. The net income will be spent on improving the company’s production. In the framework of the Tumen Shuvuut­2 project, we’re planning to build factories to raise broiler chickens for harvesting meat and produce organic fertilizers. Also, 30 percen of the net profit will be distributed to shareholders as dividends after paying taxes. The shareholders will finalize the date in its annual meeting after the final financial performance is released.

-Mongolia is now providing its domestic demands and reduced its reliance on importing eggs. What kind of changes has been seen in the market?

-According to a study, Mongolians consume 300 million eggs annually. It shows about 100 egg consumption for each person. However, its lower than the world average. Mongolia imports 50 percent of its egg consumption from Russia. We are working to improve domestic production, for an egg is a food that should be used freshly.

-A massive waste has been made, followed by the egg factory. What are the measures that the company is taking?­

We are using chicken manure as an organic fertilizer since it has a lot of advantages. We also use egg peel for animal feed.

The company this week provided an update to its prior pre-feasibility study mine plan and costings for the “extended case” option for the project.

With significant reductions in both capital and operating costs identified, the new PFS has delivered an improved financial outcome compared to results from earlier this year. Significantly, Aspire has reduced its projected capital costs for the project by 34% to AUD$45.1m off the back of lower mining and deferred capitalised waste removal costs.

The C1 cash costs have fallen to AUD$110 per tonne delivered to the Chinese border, mainly due to a 19% reduction in the mine operating costs that have dropped to AUD$38.40 per tonne over the initial 12.5-year life of the mine.

Aspire has assumed a coking coal sale price of AUD$218 per tonne for its high-quality product, providing an exceptional margin over the estimated C1 cash costs per tonne. This has the effect of hiking the pre-tax net present value of the project by nearly 16% to AUD$1.28b with a very healthy internal rate of return of 49.4%.

The company’s definitive feasibility study for the project is due to hit the streets in May 2020. Aspire said in October that its DFS was progressing well and pending finance approval and receipt of the outstanding permits by the first quarter of next year, pre-stripping of waste at the Ovoot Early Stage Development Project should occur in the June quarter of 2020.

The project is a single, open-pit mining operation with a low strip ratio of 4.7 to 1 with payback in just over two years. The company’s large, Ovoot coking coal project looks solid with a quality ore reserve of 255 million tonnes, of which only 53.8 million tonnes will be carved out for the initial phase of mining production.

Management also revealed it had recently visited several steel mills in north-eastern China and that response had been very encouraging, with a number of the facilities using, or having used, Mongolian-sourced coals in the past.

The OEDP project is set to provide direct and indirect employment for over 1,200 workers in Mongolia and it will pump some serious cash into the local community via taxes and fees payable over the next decade.

Later this month, company’s shareholders will vote on an AUD$33.5m share placement to its current largest shareholder, Mongolian businessman, Mr Tserenpuntsag, which would significantly swell Aspire’s coffers entering into what looks to be a period of substantial activity in Mongolia during 2020. (source: thewest.com.au)

Minister B.Enkh-Amgalan noted that the partnership of the Ulaanbaatar Railways and Russian Railways on the project will contribute to the human resource capacity building of the Mongolian railway sector.

The 414.6 km railway from Tavan Tolgoi deposits to Zuunbayan is currently under construction.

The training is being organized in a time of necessity for comprehensive regulation of protection and reduction of the negative impacts of chemical waste in Mongolia, and enhancement of the monitoring system, involving state inspectors of the capital city and 21 aimags.

Deputy Representative of UNDP Mongolia Nashida Sattar gave remarks at the opening of the training and discussion. In her speech, she highlighted the importance of creating sustainable development that has no negative effects on people’s health and the environment during this time of growth in economy and industry in Mongolia.

The participants will acquire comprehensive knowledge about the classification of hazardous and toxic chemicals used in the mining sector, its risk and impact on people’s health and the environment, occupational safety, waste management, and responsible mining.

In the framework of the joint Environmental Governance Programme, specific works have been implemented on the environmental policy of the mining sector, enhancement of the legal environment, capacity building for the stakeholders involved in the implementation of environmental laws, reducing human rights violations related to mining operations, and reducing areas left behind and not rehabilitated due to mining operations, and especially those that were done illegally, and measures in prevention of more cases in partnership with the Ministry of Environment and Tourism, the Ministry of Mining and Heavy Industry, General Agency for Specialized Inspection, and the National Human Rights Commission of Mongolia.