Monday, January 21, 2013

NEWS: Mongolia in the News - Jan 20

Mining.com (Canada) Jan 20
Mongolia stops coking coal exports to China in pricing scrap

Mysteel reports Ya Batsuuri, CEO of Mongolian coking coal miner Tavan Tolgoi, said last week the state-owned company had suspended all coal exports to China starting on January 11. The bulk of China's coking coal imports from Mongolia are from Tavan Tolgoi – mined since the 60s – in the South Gobi desert which is the world’s largest high-quality coking coal used in steelmaking. (continued)

iAfrica.com (South Africa) Jan 18
Media brings glitz to Mongolia

Every time a new Mongolian-language edition of Cosmopolitan magazine is released, Tselmeg Erdenkhuu sits down with a friend to explore a monthly dose of Hollywood gossip, glitzy fashion and scintillating sex. "They talk about sex a lot in this magazine, like what position is healthy or how to make men go crazy," said the 28-year-old businesswoman, a single mother. The titillating revelations are just part of a US media invasion of the once remote country, which has ridden a globalization wave since shaking off communism two decades ago. (continued)

Refining and Petrochemicals News (UK) Jan 17
Toyo Engineering and partners to build first oil refinery in Mongolia

Japan-based Toyo Engineering and other unnamed local companies will be building Mongolia’s first oil refinery by 2015 at a cost of $600m. The country's first refinery to be constructed in the Darkhan city, in Darkhan-Uul Province is expected to have a capacity to process two million metric tons of oil per year. Mongolia is undertaking the project with the intention to reduce the country's dependency on Russian imports for gasoline and other oil products, reported Bloomberg. (continued)

Business Standard (India) Jan 17
India wants to further trade ties with Mongolia

India and Mongolia should build on trade ties and historical legacy for mutual benefits, President Pranab Mukherjee has said. During a meeting with Mongolian Foreign Minister Lu Bold here yesterday, the President noted cooperation between Mongolia and India in the United Nations and other international fora. Mukherjee referred to the ancient civilisational ties that link India and Mongolia as also shared democratic values, a Rashtrapatati Bhavan press release said. He recalled that over the centuries, our people have had close ties in trade and close intellectual discourse.
"President stressed that both nations should build on this historical legacy for their mutual benefit," it said. (continued)

Ulan Bator's business district in the distance contrasts with a traditional community in the foreground.
The Wall Street Journal (USA) Jan 14
Mongolia Confronts Modern Malaise
Country Faces Pollution, Traffic and Other Ills As It Reaps Riches From Mining - ULAN BATOR, Mongolia—The world's coldest capital is seeing the downside of its country's rush from nomadism to modernity. The air in Ulan Bator is choked with smoke from fires that now-settled nomads burn in their homes to stay warm in minus 30-degree Fahrenheit weather. Traffic is so bad from all the new car owners, it's faster to bundle up and brave a 10-minute walk than to drive short distances. A sparsely populated nation of herders, Mongolia has gone from post-Soviet basket case to one of the world's fastest growing economies, thanks to a mining boom. Money has flooded in to exploit deposits of coal and copper, mainly to sell to China, the biggest consumer of natural resources, which sits conveniently next door. (continued)