FIABCI Mongolia Chapter will work for bringing sustainable changes in the real estate industry in Mongolia by expanding its global professional network, having our privilege to enhance our professional skills and building businesses, said Batbaatar Narantuya, Chapter President.

Moreover, FIABCI Mongolia Chapter is planning to focus on protecting the interest of real estate professionals, organizing various educational courses, granting a professional license to agents, introduce real estate related law to the public, and in terms of building the strong foundation of the real estate related legal environment in Mongolia by working with government and ministries.

Founded in 1951 in Paris, FIABCI is a worldwide business networking organization for all professionals associated with the real estate industry. It has provided access and opportunities for real estate professionals interested in gaining knowledge, sharing information and conducting international business with each other. Also, it is a member of the International Ethics Standards Coalition and signed off on the 10 Principles of the UN Global Compact.

Gazprom is due to start exporting gas to China in December via the eastern Power of Siberia pipeline.

“Please, look into the resources of Yamal (Peninsula) as well, in order to gather the necessary resources for the supplies via the western route to China via Mongolia,” Putin told Gazprom head Alexei Miller at a meeting, adding that the partners in China also “lean toward” this route.

Reporting by Maria Grabar; Writing by Vladimir Soldatkin; Editing by Edmund Blair

The Heron-1 well was drilled to 2960 metres, with the top Lower Tsagaantsav reservoir, the primary target for the well, encountered at 2803 metres.

'The formation drilled from 2803 to 2880 metres was predominantly sandstone interbedded with shales and siltstones,' the company said.

'Oil and gas shows were recorded over this interval and on the basis of the drilling data, the gross reservoir interval in Heron-1 appears to be very similar to the productive reservoirs found in oil wells immediately to the north in Block XIX.'

Wireline logs had been acquired and analysis of that data supported the interpretation of a 77 metre gross interval of potential oil reservoir.

'Within this interval the logs also define three zones with a total gross thickness of 22 metres, 14 metres net, exhibiting better porosity and permeability characteristics than is generally seen within the Lower Tsagaantsav.'

'Overall, the reservoir quality and oil saturations indicated on the wireline logs are sufficiently encouraging that casing will now be run in preparation for a testing programme.'

A casing operation was now underway and discussions with the testing contractor had commenced to determine how quickly the testing equipment could be mobilised to the Heron-1 location.

'The results of the Heron-1 well are encouraging,' chief executive Mike Buck said.

'Along with the well and wireline logging data being consistent with our pre-drill prognosis, there is also evidence of zones with better than expected porosity/permeability characteristics.'

'The well will now be tested and we are pushing the contractor to mobilise equipment as quickly as possible.'

'Further updates will be provided in due course.'

During the expo, 15 projects of the Mongolian Government, 50 projects of private entities were presented to investors. The total cost of these projects is estimated at CNY 41 billion, according to the National Development Agency of Mongolia. Projects of food, agriculture, and light industry accounted for almost 50 percent of all projects.

The expo which takes place every two years aimed to leverage the geographical advantages and special industrial resources in Northeast Asia, promote business exchanges and cooperation, and to contribute to the Belt and Road Initiative. It has been expanding to a crucial spot where regional countries are able to cooperate. Also, delegates from Hong Kong and Macau as well as Russia, Japan, the Republic of Korea, and other countries have attended the expo, confirming its importance in the region.

As of the first half of 1990-2019, Chinese-invested enterprises account for half of the 14,000 registered foreign-invested entities in Mongolia. During the period, China’s direct investment reached USD 5.1 billion, accounting for 20.1 percent of total foreign investment.

This year marks the fifth anniversary of comprehensive strategic partnership, the 70th anniversary of diplomatic relations between Mongolia and China. Accordingly, both countries are committed to launching a mutually beneficial partnership as well as Mongolia intends to expand its trade in goods other than mineral commodities.

The Mongolian Police reported that 130 people have been investigated over 67 drug-related cases since January 2019; more than 80 percent of them are young people aged between 18 and 35.

Mongolia has national football teams in nine age categories and is taking part in international matches. However weather and environmental conditions cause difficulties for trainings. Up to now, the absence of a world standard ground has proved a major disadvantage.

At the meeting, Speaker G.Zandanshatar briefly informed about Mongolia’s Constitutional amendments which is currently under parliamentary consideration and an intention of reforming higher educational sector and expressed an interest to establish Mongolia-Russia joint research university and implement scientific and technological projects.

Mr. Sergeyev said, “Funding from the state budget to the scientific sector is insufficient. It needs to be raised”. Expressing readiness to implement joint projects in modern agriculture, rare earth metals, renewable energy, space studies and studies of shared history based on archaeology, genetics and ethnography, Mr. Sergeyev asked support from the Speaker on the issue.

The sides concurred to co-work for expanding bilateral cooperation in science and technological sectors and develop it effectively.

The US company, run by the Canadian mining icon, said the decision allowed it to buy a 95% stake in Nimba, owned until now by BHP, Newmont Mining and France’s Orano.

Nimba, located on the border with Liberia, is just one of the world’s richest iron ore deposits found in Guinea, holding around 1 billion tonnes of the steelmaking ingredient.

The West African country is also host to the famed Simandou project, which Rio Tinto, Vale and billionaire Beny Steinmetz’s BSG Resources fought over for years. However, Guinea has never exported a tonne as it lacks infrastructure to transport the ore to local ports.

Using a much shorter route through neighbouring Liberia would be cheaper and faster. The government, however, has repeatedly said ore should shipped via the country’s own ports. It has so far made an exception by allowing Niron Metals’s Zogota mine to send production by rail to Liberia and ship from there. It is not clear whether HPX has secured a similar rail deal.

The Vancouver-based firm plans to produce between 1 million to 5 million tonnes in a first phase, with a view to increasing output to at least 20 million tonnes. Under the deal, Guinea’s government will receive a 15% stake in Société des Mines de Fer de Guinée (SMFG), the company that owns Nimba. The government will also get two seats on SMFG’s board.

Guinea has struggled for decades to extract money from its iron ore, which has been left undeveloped because of protracted legal disputes and the cost of infrastructure.
“With local procurement of goods and services, local recruitment and training of the workforce, the upgrading of transport routes and infrastructure, and the resulting economic multiplier effects, we anticipate that major social and economic benefits will flow from the Nimba mine,” HPX president Eric Finlayson said in a statement.

Friedland made his fortune from the Voisey’s Bay nickel project in Canada in the 1990s. Since then, he has been involved in some of the biggest mineral discoveries in the world, including the giant Oyu Tolgoi copper mine in Mongolia and the Kamoa-Kakula project in Democratic Republic of Congo.

The company still has to figure out how to build reverse logistics, according to the source.

In terms of e-commerce, there are some issues related to the delivery of goods from Russia to China.

Goods from Russia are currently exported only via eBay and Ozon, said the source, noting that those products are mainly sold to the United States.