JCB International Co, Ltd. ("JCBI"), the
international operations subsidiary of JCB, Bank of Mongolia ("BOM"),
chair of the nationwide payment network, and Trade and Development Bank
of Mongolia ("TDBM"), a major commercial bank in Mongolia, are pleased
to announce the signing of a Master License agreement for merchant
acquiring. The new agreement enables all merchants in Mongolia to accept
JCB cards.
Tavan Tolgoi
(TTL:MSE) stated that they
were making sales despite of the weak coal price and market. The company is
selling coking coal at MNT 44k per ton on their mine site and their
mining cost is MNT 36k per ton (not including taxes and depreciation expense).
Mitsubishi Corporation (MC) and Chiyoda Corporation (Chiyoda) are
pleased to announce that they have reached an agreement with the Civil
Aviation Authority of Mongolia (CAAM) to construct the New Ulaanbaatar
International Airport in Mongolia. The contract price is approximately
50 billion yen.
Sharyn
Gol JSC has upgraded its technology with Komatsu brand May 2nd, 2013. Sharyn
Gol has been undergoing major changes in the past 3 years, aimed to elevate the
company and improve the quality of its coal production. They plan on expanding
the open pit mine to the newly found coal reserve and as a result they plan to
reach 3-4 million tons of coal production a year.
Mongolian government has started implementing a policy to increase the supplier sources of gasoline and diesel fuels of the country. Relevant orders have been given to the Mining Ministry. Oil export to China has been increasing steadily in the recent years enabling Mongolia to initiate oil processing factories to produce its own gasoline and diesel fuels.
Under an agreement signed at the 2013 EBRD Annual Meeting in Istanbul, the Bank is providing a US$ 20 million equity investment to the company Senj Sant which will build and operate the state-of-the-art plant. This equity investment is part of a financing package which also includes a loan of up to US$ 130 million. Half of the loan will be syndicated to other lenders.
The government announced that the Central Bank of Mongolia has granted a
soft loan of 100 billion MNT to construction cement and reinforcement
suppliers, as part a government project to decrease housing prices by
reducing the cost of key construction materials.
Mining giant Rio Tinto has secured funding support from the Australian
government for its massive Oyu Tolgoi copper mine in Mongolia. The
six billion dollar mine is expected to start production in June after
the settling of disputes between Rio Tinto and the Mongolian government.
Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) today announced
its financial results for the quarter ended March 31, 2013. All figures
are in US dollars unless otherwise stated.
The candidates for the Presidential Election, to be held on June 26, has
been finalized and announced to the public. In compliance with the law,
the political parties should pick out its presidential candidates
within 45 days before the scheduled Election Day. Accordingly, the
political parties who have seats in the Parliament; namely, the
Mongolian People’s Party, Democratic Party, Civil Will-Green Party,
Mongolian National Democratic Party, and Mongolian People’s
Revolutionary Party; convened last week and expressed their positions
regarding the Presidential Election by announcing their respective
candidates.
In line with the government’
decision to celebrate annual “Tax Payers’ Day” event on second week of May,
Administrative office of Chingeltei district, finance and tax department of the
government held the “Best Tax Payer” event under the slogan “Thank you very
much to our tax payers” on May 09th, 2013.
Samsung C&T, the construction arm of Samsung Group, said yesterday
it secured a $483 million order from Mongolia to build a railway and
rail facilities. The company said the project involve 217 kilometers (134 miles) of
railway from Tavan Tolgoi coal mine to near the Chinese border. The
estimated construction period is 30 months.
According
to the director of Strategic Planning Department at Ministry of Mining, highly
anticipated OT shareholder’s meeting will be held within 2 weeks’ time. On
the last OT shareholder’s meeting, GOM has expressed 6 concerns, the main one
being the cost overrun. GOM working group has been auditing OT to come up with
conclusion on the cost overrun since the last meeting.
Mongolian Mining Corp. (975), the nation’s
biggest coking-coal exporter, will receive 84.3 billion tugriks
($59 million) in compensation as part of a pact with the
government to terminate a rail-concession agreement.
Khot Development JSC (MSE:SDT) formerly known as Shad Trade
JSC has held its first AGM on April 11th, 2013 after entities
controlled by Firebird Investment Funds have taken over control of the company.
Firebird has provided a bridge financing to cover initial operating costs. The
AGM is the first step in the restructuring plan of the company.
Berkh Uul JSC (MSE:BEU) is pleased to announce the appointments of Jimmie
Wilde as Chief Operating Officer and Jim Flores as Chief Financial
Officer as the Company enhances the Executive Team and advances the restart of
operations at the former producing Delgerkhaan Fluorspar Mine.
Global miner Rio Tinto Ltd
has attracted strong interest for a $2.5 billion
loan to expand its Oyu Tolgoi copper and gold mine in Mongolia,
in one of the largest resource financings in Asia this year,
banking sources said.
A construction has started of the international airport in the valley of Khoshig in Sergelen soum, Tov province. The Japanese Mitsubishi-Chiyoda Alliance has been selected as the executor of this work.
Anglo American Plc (AAL), the world’s third- largest producer of coking coal, is keen on joining a group of mining companies seeking to develop Mongolia’s giant Tavan Tolgoi coal field. The company is interested in working on the deposit in partnership with state-owned Erdenes Tavan Tolgoi, Graeme Hancock, Anglo American’s chief representative and president in Mongolia, said in an interview in Ulaanbaatar yesterday.
India Globalization Capital, Inc. (NYSE MKT: IGC) ("IGC" or "the
Company") announced the achievement of a further milestone in the
execution of its strategic plan on April 29, 2013. It has established a shipping hub
at the border of Mongolia and China to provide iron ore to its
customers in China and source raw materials for its beneficiation
plants.
23 April 2013, Tuesday – On the exchange, 14 thousand shares were traded with a value of MNT 38.5 million (USD 27.1 thousand). APU (APU), the largest MSE-listed company that gets 60 percent of the beverage market in Mongolia, dropped 4.1 percent to close at MNT 3,550.
22 April 2013, Monday - Mongolia stocks weakened to 28-month low despite good news being released lately. Erdenes Tavan Tolgoi LLC, Mongolia’s largest state-owned coal company, resumed shipments to China today. At the Cabinet meeting, it was resolved to accelerate the project construction of Oyu Tolgoi LLC in order to fulfil the contractual obligations on time.
19 April 2013, Friday – Tavantolgoi (TTL) slid more than 14 percent and was the biggest drag on the MSE Top 20 Index. The benchmark index fell 2.02 percent today to 14,660.01 points. However trading volume was very low at MNT 13.2 million or USD 9.4 thousand.
18 April 2013, Thursday – The market retreated today after two consecutive days of trading in the green, even three stocks rose for every one that fell. The market pulled down by weakness in Tavantolgoi (TTL), which is the largest market-cap stock on the MSE. TTL lost as much as 13.85 percent today to close at MNT 3,963.
17 April 2013, Wednesday – Almost two stocks rose for each that fell on the Mongolian Stock Exchange (MSE) on Wednesday. Total of 71 thousand shares worth of MNT 110.9 million (~USD 738.7 thousand) were traded on the exchange. MSE Top 20 edged up 0.09 percent to 15,000.70 points.
16 April 2013, Tuesday – Sharp rise in coal miners shares boosted the MSE Top 20 on Tuesday. Baganuur (BAN), a thermal coal miner that produces 3.3 million tonnes of coal per annum, strengthened 4.76 percent to MNT 4,400 after gaining 5 percent yesterday.
15 April 2013, Monday – Mongolian stocks finished weaker as losers outnumbered winners by 11 to 9. MSE Top 20 closed 0.80 percent lower to sit at 14,897.53 points. Trading value reached MNT 140.1 million or USD 99.4 thousand on Monday.
12 April 2013, Friday – Mongolian shares ended the week in red, snapping 2-day rally. On the Mongolian Stock Exchange, 56.7 thousand shares were traded with a value of MNT 40.0 million or USD 28.3 thousand as five shares fell for every four that rose.
11 April 2013, Thursday – Manufacturing stocks rose on Thursday, driving the MSE Top 20 to its best one-day gain since December 2012. The benchmark index closed up 1.45 percent to sit at 15,106.28 points.
10 April 2013, Wednesday – News that Mongolian inflation slowed below 10 percent for the first time in two years and Rio Tinto saying the copper production in Oyu Tolgoi may start this summer sent the MSE Top 20 up nearly 66.43 points Wednesday, first gain in four days.
9 April 2013, Tuesday – Trading value for Tuesday reached MNT 487 million or USD 345 thousand. HBOil (HBO) was the most active traded stock on the Mongolian Stock Exchange (MSE) with more than 2.6 million shares traded.
8 April 2013, Monday – Mongolian stocks benchmark index MSE Top 20 declined 0.46 percent on Monday to sit at 14,987.32 points.
Telecom Mongolia (MCH), Mongolia’s only state-owned telecom company, advanced 3.53 percent to close at MNT 1,760, followed by Aduunchuluun (+3.45%), Darkhan Nekhii (+3.02%), Talkh Chikher (+2.86%), Gobi (+2.27%), Remicon (+2.08%), and Genco Tour Bureau (1.18%).
5 April 2013, Friday – On the Mongolian Stock Exchange, MNT 41 million or USD 30 thousand worth of 16,456 shares of 19 companies were traded. State Department Store (UID) was the biggest gainer and closed up 9.21 percent followed by Mongol Savkhi (5.86 percent).
4 April 2013, Thursday – Advancers outpaced decliners on the Mongolian Stock Exchange by about 2 to 1. The MSE Top 20 Index rose to 15,062.99 on Thursday, a gain of 0.02%. The day’s value traded on the MSE was about MNT 75 million or USD 53.6 thousand.
3 April 2013, Wednesday – Mongolia stocks fell further on Wednesday amid low liquidity. Trading turnover was light at MNT 17.49 million or USD 12.5 thousand. Baganuur (BAN), the largest thermal coal producer of Mongolia that produces 3.4 million tonnes of coal per year, rebounded 2.38 percent to close at MNT 4,300 after three consecutive days of trading in the red.
2 April 2013, Tuesday – MSE Top 20 slumped to a 26-month low on Tuesday, led by declines in coal mining companies. Most MSE-listed coal miners performed not well during the trading session with Sharyn Gol (SHG), Baganuur (BAN), Aduunchuluun (ADL), Tavantolgoi (TTL) and Mogoin Gol (BDL) dropping 1.23 percent to 14.29 percent.
1 April 2013, Monday – Share prices declined across the A Board at MSE at the opening session of the week. MSE Top 20 was down 158.95 points, or 1.02 percent, at 15,383.29. Out of 29 stock traded, prices of 11 fell, 7 rose, and 11 remained same.
29 March 2013, Friday – MSE Top 20 declined 0.06% to sit at 15,542.24 points on the last trading day of the month. For the month, the MSE Top 20 lost as much as 10.1 percent.
28 March 2013, Thursday – MSE Top 20 declined by 0.25% to end the
session at 15,552.30 points. The shares of 19 companies were traded, the
shares prices of 3 companies rose, the shares prices of 4 declined, and
12 remained same. The day’s value traded on the Mongolian Stock
Exchange was MNT 155.4 million or USD 111.0 thousand.
27 March 2013, Wednesday – HBOil (HBO) was Mongolian Stock Exchange’s (MSE) most actively traded stock, with more than 885 thousand shares traded at a value of MNT 155 million or USD 110 thousand. On the MSE, such active stocks as Tavantolgoi (TTL), Baganuur (BAN) witnessed very low liquidity due to negative information about their 2012 business results.
(Apr. 8th - Apr. 12th) MSE Top 20 index lost 0.26%
to 15,017.8 points whilst BDS index went down to 0.74% to 3,133.1
points. Despite the fact that companies reported strong financials in
2012 which have started being announced to the public at their annual
general meetings this month, both indexes have been losing value for 12
weeks in a row, reaching its 27-months low value.
(Feb 18th - 22th) MSE listed companies started announcing their year-end financials: net profit of most actively traded companies has grown by 42.1% in 2012 and sales revenue of those companies went up by 25% in the same year
(Feb 4th – Feb 8th) Market closed at lower value on the verge of Lunar New Year: MSE TOP20 index went down by 0.3% to 17,627.3 points whilst BDS index dropped by 2.0% to 3,767.0 points.
JCB International Co, Ltd. ("JCBI"), the
international operations subsidiary of JCB, Bank of Mongolia ("BOM"),
chair of the nationwide payment network, and Trade and Development Bank
of Mongolia ("TDBM"), a major commercial bank in Mongolia, are pleased
to announce the signing of a Master License agreement for merchant
acquiring. The new agreement enables all merchants in Mongolia to accept
JCB cards.
Tavan Tolgoi
(TTL:MSE) stated that they
were making sales despite of the weak coal price and market. The company is
selling coking coal at MNT 44k per ton on their mine site and their
mining cost is MNT 36k per ton (not including taxes and depreciation expense).
Mitsubishi Corporation (MC) and Chiyoda Corporation (Chiyoda) are
pleased to announce that they have reached an agreement with the Civil
Aviation Authority of Mongolia (CAAM) to construct the New Ulaanbaatar
International Airport in Mongolia. The contract price is approximately
50 billion yen.
Sharyn
Gol JSC has upgraded its technology with Komatsu brand May 2nd, 2013. Sharyn
Gol has been undergoing major changes in the past 3 years, aimed to elevate the
company and improve the quality of its coal production. They plan on expanding
the open pit mine to the newly found coal reserve and as a result they plan to
reach 3-4 million tons of coal production a year.
The government announced that the Central Bank of Mongolia has granted a
soft loan of 100 billion MNT to construction cement and reinforcement
suppliers, as part a government project to decrease housing prices by
reducing the cost of key construction materials.
Mining giant Rio Tinto has secured funding support from the Australian
government for its massive Oyu Tolgoi copper mine in Mongolia. The
six billion dollar mine is expected to start production in June after
the settling of disputes between Rio Tinto and the Mongolian government.
Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) today announced
its financial results for the quarter ended March 31, 2013. All figures
are in US dollars unless otherwise stated.
The candidates for the Presidential Election, to be held on June 26, has
been finalized and announced to the public. In compliance with the law,
the political parties should pick out its presidential candidates
within 45 days before the scheduled Election Day. Accordingly, the
political parties who have seats in the Parliament; namely, the
Mongolian People’s Party, Democratic Party, Civil Will-Green Party,
Mongolian National Democratic Party, and Mongolian People’s
Revolutionary Party; convened last week and expressed their positions
regarding the Presidential Election by announcing their respective
candidates.
In line with the government’
decision to celebrate annual “Tax Payers’ Day” event on second week of May,
Administrative office of Chingeltei district, finance and tax department of the
government held the “Best Tax Payer” event under the slogan “Thank you very
much to our tax payers” on May 09th, 2013.
Samsung C&T, the construction arm of Samsung Group, said yesterday
it secured a $483 million order from Mongolia to build a railway and
rail facilities. The company said the project involve 217 kilometers (134 miles) of
railway from Tavan Tolgoi coal mine to near the Chinese border. The
estimated construction period is 30 months.
According
to the director of Strategic Planning Department at Ministry of Mining, highly
anticipated OT shareholder’s meeting will be held within 2 weeks’ time. On
the last OT shareholder’s meeting, GOM has expressed 6 concerns, the main one
being the cost overrun. GOM working group has been auditing OT to come up with
conclusion on the cost overrun since the last meeting.
Khot Development JSC (MSE:SDT) formerly known as Shad Trade
JSC has held its first AGM on April 11th, 2013 after entities
controlled by Firebird Investment Funds have taken over control of the company.
Firebird has provided a bridge financing to cover initial operating costs. The
AGM is the first step in the restructuring plan of the company.
Berkh Uul JSC (MSE:BEU) is pleased to announce the appointments of Jimmie
Wilde as Chief Operating Officer and Jim Flores as Chief Financial
Officer as the Company enhances the Executive Team and advances the restart of
operations at the former producing Delgerkhaan Fluorspar Mine.
Global miner Rio Tinto Ltd
has attracted strong interest for a $2.5 billion
loan to expand its Oyu Tolgoi copper and gold mine in Mongolia,
in one of the largest resource financings in Asia this year,
banking sources said.
A construction has started of the international airport in the valley of Khoshig in Sergelen soum, Tov province. The Japanese Mitsubishi-Chiyoda Alliance has been selected as the executor of this work.
