The ministry estimates the average petroleum price produced by the factory to be around MNT 850 per litre. “We had a conference call with Igor Sechin, Head of Russian oil company Rosneft. The working group of MMHI and oil refinery will pay a working visit to Russian Federation soon after the new year, prepare necessary documents and sign the cooperation agreement within the first quarter,” said Mr. Sumiyabazar.

As of November, mining sector and heavy industry allocated MNT 1.9 trillion to the state budget, which is 37 percent higher than the same period of last year. In the reporting period, the industrial sector production reached MNT 14.1 trillion, growing 19.5 percent year over year.

Preparatory works of Erdenes Tavan Tolgoi IPO is currently underway. Open selection for audit, legal, financial and technical assistants have been selected and advisory firm selection is in process at the moment. MMHI also reported that the international underwriter and other partners necessary for the IPO will be picked in between January and February.

Regarding the gold royalties, Mr. Sumiyabazar expressed that the 2.5 percent royalties must be extended. “Gold sector annually create USD 800 million for the budget. The ministry has negotiated with the Bank of Mongolia (BoM) to establish a gold purifying plant in 2019, signing cooperation agreement in the working group level,” informed Mr. Sumiyabazar and added, “The purifying plant will also have a gold purchase service and within this frame, a bill involving the BoM, Ministry of Finance and MMHI has been prepared and will be submitted to the Parliament for approval soon.”

The cave is unique, it occupies 5 km2 territory and has a water pit.

It was discovered for the first time and even locals did not know it existed.

It was discovered by local herdsman accidentally. The bones of marmots were found in the cave.

Local authorities plan to protect the territory and invite researchers.

Minister of Finance Mr. Khurelbaatar Chimed and ADB Country Director for Mongolia Ms. Yolanda Fernandez Lommen signed the agreement at a ceremony in Ulaanbaatar. First Secretary Mr. Hiromichi Miyashita from the Embassy of Japan in Mongolia witnessed the event. Representatives from the Ministry of Justice and Home Affairs also attended.

“The grant is ADB’s first stand-alone project addressing domestic violence, which is a critical issue with serious social and economic implications,” said Ms. Fernandez Lommen. “The national study revealed that women aged between 25 and 49 experienced the highest rates of domestic violence resulting in loss of work days and income in addition to physical and psychological damage.”

The project will strengthen the quality of and access to prevention and multi-disciplinary responses to domestic violence. Financed by the Japan Fund for Poverty Reduction, it will establish shelters in three provinces and two districts, develop institutional capacity, and empower survivor women economically.

The project will also ensure accessibility of people with disabilities (PWDs), who are at high risk of gender-based violence, to protection services. It will establish PWD-accessible shelters and train PWDs as peer educators and pilot support groups.

Behavior change communication activities under the project will engage men and adolescent boys and girls in project sites to increase understanding of domestic violence and to promote positive role modeling behavior.

source: The ADB Mongolia Country Office

The annual consultative meeting was attended by officials led by Deputy Minister of Environment and Tourism of Mongolia Ts.Batbayar and Vice Minister for Global Environmental Affairs at Minister of Environment Yasuo Takahashi.

At the meeting, as according to the memorandum on environment between the ministries of the two countries, issues such as reducing and adapting to climate change, management of special protected areas, tourism, environmental protection, dust and sandstorm, air pollution monitoring and improving environmental protection, were discussed.

The funds will also be used to build wastewater treatment plants in the capitals of five provinces of the landlocked East Asian country as well as to strengthen national measures to prevent and respond to domestic violence.

The deals were signed here by Mongolian Finance Minister Khurelbaatar Chimed and ADB country director for Mongolia, Yolanda Fernandez Lommen.

Of the loan agreements, the first grant of 53 million dollars is earmarked for improving the living conditions in the ger districts or shanty towns in Ulan Bator, by building 10,000 homes in 20 new environmentally friendly districts, with good services, green spaces, shops and job opportunities.

"A third of the Mongolian population of 3.2 million live in the ger districts and suffer from poor sanitation, inadequate solid waste management, and limited water supply, which pose health and environmental hazards," Lommen said, adding the project will provide sustainable and comprehensive solutions to transform ger districts into affordable, low-carbon, and livable eco-friendly areas.

In the country's first single project to address domestic violence, 3 million dollars in funds will be directed at strengthening the nationwide prevention and response to domestic violence against women and children, a critical issue in the country with serious social and economic implications.

"The national study revealed that women aged between 25 and 49 experienced the highest rates of domestic violence resulting in loss of work days and income in addition to physical and psychological damage," said Lommen.

The country director added that the project, financed by the Japan Fund for Poverty Reduction, aims to build shelters in three provinces and two districts, develop institutional capacity, and empower the victims economically.

In the third loan agreement, 20 million dollars will be used to help expand the existing wastewater treatment projects to an additional five provincial locations in Mongolia. The towns are Baruun-Urt, Bulgan, Chinggis, Mandalgovi and Murun, which have a total local population of 115,000.

The planned new wastewater treatment facilities each with a daily operating capacity of 3,000 cubic meters will replace outdated, inefficient treatment systems that are inadequate for the extreme climate in Mongolia, the ADB said.

The bank will also invest in vacuum evacuation trucks to improve the sanitation in ger districts and prevent underground and surface water pollution. This project is expected to be completed by the end of 2021.

Mongolia joined the ADB in 1991, and the bank has since provided assistance worth a total of 2.4 billion dollars to the government of Mongolia, Lommen said.

That’s good advice for working out the long-term direction of commodities prices. Ask mining companies which of their mineral assets will see good long-term demand and they’ll naturally answer, “All of them.” But a look at spending can give the lie to that rosy outlook – and highlight the times when they’re putting their money where their bullish mouths are. The recent gloomy outlook for copper may not last

Right now, that suggests that the recent gloomy outlook for copper may not last. More than a third of capital spending by big diversified miners is being dedicated to the metal at the moment, up from levels of 20 percent or less earlier in the decade. That represents a substantial bet that forecast deficits for copper over the next decade will indeed materialize. Aluminum, zinc, and platinum-group metals are currently running red-hot, too – but iron ore, petroleum and fertilizers seem to be fatally out of fashion.

To get an idea of where mining executives are allocating their capital, we’ve combed through the past five years of reports from the eight major diversified miners that have a real choice of where they spend their money – BHP Group, Rio Tinto Group, Vale SA, Anglo American Plc, Glencore Plc, South32 Ltd., Vedanta Resources Plc and Teck Resources Ltd.

The trend underlying all this is the way capital spending collapsed after the boom in the early part of this decade, and is yet to show strong signs of recovery. Mining executives are still donning the sackcloth-and-ashes of “disciplined capital allocation,” which they took up to atone for the vast sums of wasted cash during the market’s last peak.

(By David Fickling and Elaine He)

The industrial added value of the region increased from less than 2.2 billion yuan (320 million U.S. dollars) in 1978 to 510.9 billion yuan in 2017, the region's industry and information technology department said in its latest update.

The region has been a major producer of coal, calcium carbide, and monocrystal silicon in China. Mengniu Dairy and Yili Group are heavyweights in the dairy sector.
The region's coal production capacity exceeded 1.33 billion tonnes in 2017, ranking first in China.

But in order to reduce its over-reliance on coal, the region has managed to raise the value of non-coal industries, such as wind and solar power generation, to account for 75 percent of its total industrial growth in 2017, the department said.

The region's installed electricity capacity reached 118 million kilowatts last year, ranking second in the country. During the 1978-2017 period, the region's power generation increased by 116 times.

Delivering greetings from the President of Mongolia Kh.Battulga to Emir Sabah Al-Ahmad Al-Jaber Al-Sabah, the Minister highlighted friendly relations of Mongolia and Kuwait based on mutual respect and support of the two countries during difficult times.

Emir of Kuwait Sabah Al-Ahmad Al-Jaber Al-Sabah said that he considers Mongolia as close friend and expressed readiness to fully support expansion and development of bilateral cooperation.

Foreign Minister D.Tsogtbaatar presented the Order of the Polar Star to Kuwaiti citizen Badr Al-Baijan on behalf of the President of Mongolia.

The Kuwaiti Government has granted aid for several construction projects in Mongolia such as a National Burns Centre and the renovation of Undurkhaan airport in Khentii Province.