SIXTH CASE OF CORONAVIRUS REGISTERED IN MONGOLIA, REPATRIATED CITIZEN
Yesterday, 3 passengers from charter flights Seoul-Ulaanbaatar and Berlin-Moscow-Ulaanbaatar tested and resulted positive to Coronavirus. Currently, direct contacts are being tested and 1 more passenger resulted positive.
Head of Medical Assistance Department and the Ministry of Health Ya.Buyanjargal said “5 people registered with Coronavirus are under treatment according to recommendations from WHO”. And today, Head of National Center for Communicable D.Nyamkhuu said another one person who came from Berlin was confirmed positive to Coronavirus. Totally, now there are 6 people were resulted with Coronavirus.
But even before these cases were detected, and before the WHO declared a pandemic, warning that government systems need to be “urgent and aggressive,” Mongolia did just that.
Source: GoGo News
Forbes
BANKS TO ALLOW CUSTOMERS TO DEFER LOAN REPAYMENT FOR 90 DAYS
According to the Finance Minister, more than 1000 individuals and business entities have expressed their financial difficulties to repay loans as the country has been under the heightened state or readiness since January due to the coronavirus pandemic.
Concerning this, the Council for Financial Stability met yesterday, March 17 to make this decision.
President of the Bank of Mongolia Mr. Lkhagvasuren said that the government has been monitoring the difficulties encountered by the public outside of their control. “When borrowers fail to repay their loans, their credit rating goes down. Therefore, it has been decided that the borrowers’ credit rating would not be changed for six months since January 27, 2020, when the country went into the heightened state of readiness.”
Mr. Lkhagvasuren continued “Moreover, the aforementioned regulations have been amended so that borrowers are allowed not to pay the principle repayment and interests for 90 days. Putting off the loan repayment and interests for three months will just make the loan payment period longer.”
Although commercial banks are expected to suffer some losses as a result of the decision, the central bank president assured that their losses will be mitigated somewhat by regulations overtime. “There is also a possibility for the central bank to offer measures aimed at providing funding based on their assets at the recently-decreased policy rate to the banks, who could encounter troubles due to the postponement."
There are some 419 thousand borrowers nationwide, owing MNT 18 trillion in total and more than 70 percent of them have consumer loans.
Source: Montsame
BUSINESS COUNCIL OF MONGOLIA ISSUES JOINT PRESS RELEASE WITH NGOs ON COVID19
Due to the rapid decline of the economy and rising short-term difficulties for businesses as a result of COVID-19, business advocate organizations and associations have released a joint statement demanding immediate, comprehensive measures be taken and that the proposals put forth by the Mongolian National Chamber of Commerce and Industry (MNCCI) to mitigate risks and protect business and employment be implemented.
Ten organizations announced that have joined efforts, including the MNCCI, Business Council of Mongolia (BCM), Mongolian Bankers Association, Ulaanbaatar Chamber of Commerce, and International Women’s Federation of Commerce and Industry Mongolia.
Source: Montsame
ECONOMY
EMERGENCY COMMISSION POSTPONES RESUMPTION OF COAL EXPORT SHIPMENT
Amid concerns over the novel coronavirus outbreak, the State Emergency Commission (SEC) resolved to put off coal and petroleum exports in February until March 15.
Beginning from March 4, heavy trucks loading coal started crossing the border only through Zamyn-Uud border checkpoint after being fully decontaminated.
Today, the State Emergency Commission convened and decided not to resume coal shipment through border checkpoints because of lack of preparedness at some of the border checkpoints. For instance, Head of the SEC U.Enkhtuvshin pointed that building of disinfection facilities at some checkpoints have not been finished yet and it needs to be made sure that drivers of the freight trucks are ready to launch the shipments as the drivers themselves first had requested to stop the shipments due to fears over the outbreak.
Source: Montsame, Argus Media
BANKS TO ALLOW CUSTOMERS TO DEFER LOAN REPAYMENT FOR 90 DAYS
Today, March 18, Cabinet’s regular meeting was organized to touch on current economic state of Mongolia and steps to take concerning the COVID-19 pandemic.
Following the cabinet meeting, Minister of Finance Ch.Khurelbaatar and President of the Bank of Mongolia D.Lkhagvasuren held a press briefing on the Cabinet’s approval of a decision to make deferrals on consumption and business loan repayment and their interests for 90 days.
According to the Finance Minister, more than 1000 individuals and business entities have expressed their financial difficulties to repay loans as the country has been under the heightened state or readiness since January due to the coronavirus pandemic.
Concerning this, the Council for Financial Stability met yesterday, March 17 to make this decision.
Source: Montsame
TOTAL EXPORT DECREASED BY USD 322.9 MILLION COMPARED TO PREVIOUS YEAR
In the first two months of 2020, Mongolia traded with 114 countries from all over the world, and the total trade turnover reached USD 1.5 billion, of which USD 770.7 million were exports and USD 750.0 million were imports.
Total foreign trade turnover decreased by USD 410.4 million (21.3%), of which exports decreased by USD 322.9 million (29.5%) and imports -- by USD 87.5 million (10.4%) compared to the same period of the previous year.
The surplus of foreign trade balance reached USD 256.1 million in the first two months of 2019, while the surplus of the balance reached USD 20.7 million in the first two months of 2020 and decreased by USD 235.4 million from the same period of 2019.
Coal and copper concentrate accounted for 33.4% and 33.6% of total exports to China, while gold accounted for 84.3% of goods exported to the United Kingdom.
Source: Montsame
GENERAL GOVERNMENT BUDGET REVENUE DECREASED BY 11.7 PERCENT IN FEBRUARY
In the first two months 2020, general government budget revenue amounted to MNT 1.5 trillion by preliminary results, MNT 1.4 trillion of which accounted for equilibrated revenue. For the general government budget revenue structure in the first two months of 2020, 93.5% was accumulated from equilibrated revenue.
Total expenditure and net lending amounted to MNT 1.5 trillion, resulting in a deficit of MNT 120.0 billion in the equilibrated balance.
In February 2020, the general government budget revenue amounted to MNT 697.0 billion, decreased by MNT 92.6 billion or 11.7%, and total expenditure and net lending amounted to MNT 848.0 billion increased by MNT 253.9 billion or 42.7%, compared to the same period of the previous year.
In the first two months 2020, 32.2% of the total tax revenue was accumulated from income tax, 23.8% from social security contributions, 16.0% from value-added tax, 10.4% from excise taxes, 9.8% from other taxes and 7.5% from foreign activity revenues.
Source: Montsame
MONGOLIA HAS CAPACITY TO RECEIVE 0.4 PCT OF TOTAL POPULATION IN HOSPITAL
During the 12th meeting of State Emergency Commission today, the Minister of Health D.Sarangerel stated “Mongolia has capacity to receive 0,4% of total population at hospitals at the same time as People’s Republic of China. Current situation shows us the infection can be spread like wildfire. In that case, only the most severe cases can be treated in hospital.
Related to this, WHO advises all countries to take care of elders and people with chronic diseases. It is true that Mongolia has no lung dialysis machine. Thus, we have ordered lung dialysis machine under cooperation of the Ministry of Finance”.
Deputy Prime Minister and Head of State Emergency Commission U.Enkhtuvshin stated “MNT 720 million will be spent on purchasing lung dialysis machine from collected donation”.
Source: GoGo News
SALES OF INDUSTRIAL PRODUCTION DECREASED BY 25.8 PERCENT
According to the preliminary results, in the first two months of 2020, the gross industrial output reached MNT 2.2 trillion, showing a decrease of MNT 360.7 billion (14.2%) from the same period of the previous year. This decrease was mainly due to the decrease in the gross mining and quarrying output by MNT 439.2 billion (23.8%) while manufacturing output increased by MNT 36.7 billion (8.0%), electricity, thermal energy and water supply output by MNT 41.7 billion (18.3%), respectively.
In February 2020, the gross industrial output reached MNT 1.0 trillion, showing a decrease of MNT 99.6 billion (8.8%) from the previous month. This decrease was mainly due to the decline in the mining and quarrying output by MNT 85.7 billion (11.5%) and manufacturing production by MNT 9.7 billion (3.8%).
The gross industrial output was made up of the mining and quarrying sector (64.6%), the manufacturing industry (22.9%) and electricity, thermal energy and water supply sector (12.5%).
Source: Montsame
MONTHLY SALARY IN ULAANBAATAR 9.9 PCT HIGHER THAN NATIONAL AVERAGE
Last week, the National Statistical Office of Mongolia presented the social and economic statistical situation for February 2020.
The presentation shows that more than 679 thousand employees of 42 thousand establishments were covered in the payment report of social insurance premiums for the fourth quarter of 2019.
In particular, the number of establishments paying social insurance premiums grew by 1.5 thousand (3.8%) compared to the same period of last year.
A 27.5 thousand (4.2%) increase from the same period of the prior year was noticed in the number of employees and the number dropped by 5.6 thousand or 0.8% since the previous quarter.
In the fourth quarter of 2019, the monthly average wages and salaries per employee was MNT 1.2 million, increased by MNT 122.4 thousand or 10.9% from the same period of the previous year and increased by MNT 76.3 thousand or 6.5% from the previous quarter.
Source: Montsame
BOM PURCHASES 4.9 TONS OF PRECIOUS METAL
As of March 11, 2020, the Bank of Mongolia (BoM) purchased 4.9 tons of precious metal in total, of which 3.2 tons were gold and 1.7 tons were white silver. It means 3.7 tons more precious metal were bought compared to the same period of the previous year.
The increase of precious metal purchase was caused by price growth of gold on the world market and that until the adoption of amendments to the related law, 10 percent royalty was imposed in the same period of last year. Moreover, the central bank’s purchase of 1.7 tons of white silver from domestic entities since the arrival of the year also affected to the increase.
Throughout February, the average price for a gram of gold stood at MNT 140.292.94. While the announced rate by the BoM on March 11 was MNT 147,096.92 for a gram of gold and MNT 1,492.43 for a gram of silver respectively.
Source: Montsame, The UB Post
See also: Mongolia’s gold purchase rises tenfold
ADB PROVIDES USD 1.4 MILLION TO STRENGTHEN MONGOLIA'S COVID-19 PREPAREDNESS
The Asian Development Bank (ADB) has reallocated $1.4 million from a health project in Mongolia to procure essential medical equipment for early detection, emergency care, and management of severe respiratory diseases in wake of the novel coronavirus (COVID-19) pandemic.
ADB also approved a $225,000 small-scale technical assistance to strengthen Mongolia’s national capacity for infection prevention and control.
The $1.4 million in funds is reprogrammed from the Fifth Health Sector Development Project for Mongolia. ADB approved a concessional loan of $30 million for the project in December 2012 to strengthen safe blood transfusion, medical waste management, and hospital hygiene and infection prevention and control.
The reallocated funds are providing more than 570 pieces of equipment for diagnosis and treatment of patients with respiratory conditions at 30 district and provincial general hospitals and 4 tertiary level hospitals in Mongolia. The equipment includes portable digital X-rays, ventilators, patient monitors, oxygen concentrators, infusion, and injection pumps and nebulizers.
Source: Montsame, ADB
CONSUMER CONFIDENCE INDEX DECREASES BY 5.6 PERCENT
Consumer Confidence Index towards the current economic situation reached 49.7 percent, showing a decrease of 5.6 percent compared to the previous year. This is a reduced performance for the first time in the last three years, economist and researcher B.Altantsetseg underlined.
Household spending and purchase state are used to define consumer confidence index. And it becomes significant information on prediction of future economic trend.
“The future expectation index grew up by 10.9 percent from the same period of the previous year. Whereas, index towards current economic state declined this time,” she said.
Consumer Confidence Index measures the degree of optimism that consumers feel about the overall state of the country's economy and their personal financial situation. And the economy grows when consumer confidence index shows more optimistic results.
Our country has been conducting the survey since 2009.
Source: Montsame
PREVENTION PACKAGES BEING DISTRIBUTED TO HOUSEHOLDS BELOW POVERTY LINE
To prevent from the COVID-19 infection and reduce its risk, a preventive package is being provided to 2500 households below decent standard of living by the survey on household’s standard of living.
Today, March 17, Deputy Governor of the Capital City in charge of social development issues Sh.Ankhmaa handed over the preventive packages and asked the heads of Labor and Welfare Service Departments of Bayangol, Chingeltei and Songinokharkhan districts to give them to the vulnerable people living in the districts. The work is running throughout nine districts of the capital city.
The package for prevention of the infection includes 5 pieces of reusable facemask, 2 pieces of hand soap, 10 pieces of vitamin and a booklet on prevention of the infection and use of facemask.
Social Policy Department of the Governor's Office of the Capital city is organizing the work and the package is being given to the households through the Labor and Welfare Service Departments of the districts.
Source: Montsame
See also: Humanitarian assistance delivered to target community
FOREIGN CORRESPONDENCE: TERRENCE EDWARDS - MONGOLIA – BLOOMBERG (PODCAST)
Terrence Edwards (@TerryReports) has gone deep on Mongolia. Moving there with the Peace Corps, he’s been in the country for more than a decade, braving 30 below temperatures in a yurt (ger) and runaway horses. He is Bloomberg’s point man for coordinating with Bloomberg TV Mongolia, a local affiliate in Mongolian languages, and does work for Bloomberg across all formats from serious text reporting on mines and politics to hilarious viral videos.
He talks about growing up in Long Island (9:52), making his own DIY journalism major and pursuing internships (14:34), his time in the Peace Corps showering only once ever two weeks (19:41), getting his foot in the door with journalism jobs in Ulaanbaatar (34:45), being Bloomberg’s jack of all trades (42:52), coordinating across the region on a story about coronavirus (47:41), and finally the Lightning Round (51:56).
Source: Podbean.com
THE IMPORTANT HEALTH BENEFITS OF PREVENTING COAL LOCK-IN IN MONGOLIA - REPORT
Recent analysis by NewClimate Institute has estimated the direct impacts of growing coal capacity in Mongolia on human health: Operations of coal-fired power plants could cause 1,600 premature deaths / 42,000 years of life lost between 2020 and 2050. Around 70% of these negative impacts will be caused by new power plants included in coal capacity expansion plans of the Mongolian Ministry of Energy. The proposed 5.3 GW Shivee Ovoo power plant alone would cause more premature deaths and years of life lost by 2050 than all other proposed new coal plants together, while exclusively producing electricity for use in neighbouring China.
Most of the Mongolian population is exposed to ambient air concentrations of particulate matter which are well above the WHO guidelines and the National Standards of Mongolia. Recognising this issue, Mongolia has set a target to decrease air pollutants by 80% between 2017 and 2025.
Source: New Climate Institute
A UNIQUE RESOLUTION FOR THE HOUSING PROBLEM - EDITORIAL
Half of the 3.2 million of the Mongolian population is living in Ulaanbaatar, and half of the capital’s population is living in ger districts. With the 19th largest country in the world in terms of size, the roads of the capital no longer accommodate the people and cars, and the city is drowning in serious issues such as air pollution, soil pollution and other environmental problems.
We have been saying for a long time that the key to solving this problem lies in the zoning, planning, and housing, but with meager results. Despite the slight reduction in air pollution this winter due to the use of briquettes, problems of soil degradation and clean water shortage are still not solved. The best solution in the long-runs to provide housing to the ger districts, however, despite the many projects being implemented, ger districts are still expanding.
Source: Jargal DeFacto
NEW INFRASTRUCTURE IS IMPROVING DAILY LIFE IN MONGOLIA’S GER AREAS - VIDEO
• Around 840,000 people live in the unplanned ger neighborhoods in Ulaanbaatar, Mongolia
• New infrastructure is improving the daily lives of families like those of Otgonchimeg Jambalsuren in Mongolia ger areas
• Upgraded utilities, a school, and business center will make Mongolia ger areas cleaner, safer, and more sustainable
Daily life is getting better for the family of Otgonchimeg Jambalsuren and others in the Bayankhoshuu ger area in Mongolia’s capital, Ulaanbaatar thanks to new infrastructure built under an ADB project, confinanced with the European Investment Bank.
The new infrastructure, including upgraded heating and sanitation systems, a river embankment, kindergarten, and business incubator center, are making the ger area cleaner, safer, and more environmentally resilient.
Some 840,000 people, 60% of the population of Ulaanbaatar and 30% of everyone in the country, live in these unplanned ger neighborhoods.
Source: ADB
See also: Re-planning of Ulaanbaatar city's Ger districts discussed
BUSINESS
RIO TINTO PROVIDES UPDATE ON OYU TOLGOI PROJECT
Rio Tinto is working with the Government of Mongolia to ensure Oyu Tolgoi is operating in accordance with the restrictions the Mongolian authorities have put in place to contain the spread of COVID-19. The first priority of the Rio Tinto and Oyu Tolgoi teams is the health and safety of all of our employees, contractors and the wider community.
Since January the movement of goods and people within Mongolia have been restricted within and across its border and this has further escalated recently as the first case of COVID-19 has occurred in the country.
Work on the Underground Project continues, however, progress is being slowed as a result of these measures. There is restricted access for teams from Rio Tinto, Oyu Tolgoi and our construction partners to oversee development and provide specialist technical services. The availability of specialist service providers at the site is essential to safely continue work on technical activities such as the headframe commissioning of Shafts 3 and 4.
Source: Rio Tinto
See also: Rio Tinto slows expansion of Oyu Tolgoi copper mine in Mongolia
Committed to safety, Oyu Tolgoi delivers 2,000,000 man-hours LTI free
CHOICE OF TECHNOLOGY IS THE MAIN DIFFICULTY FOR MINING THE ASGAT DEPOSIT
Sales revenue from the Salkhit and Asgat silver deposits would be used to compensate the loss to the exchequer from the writing off of pensioners’ loans, but will there be any revenue from Asgat at all in the near future, given that the appropriate technology for extraction there has not been identified? Nobody knows if there has been a breakthrough, but it seems unlikely.
Two other hurdles stand in the way of any quick start to sales from Asgat. First, it is about 3000 m above sea level and there is no infrastructure. Second, there are no processing facilities and ore is uneconomic to transport.
Asgat is 180 km from the town of Olgii in Bayan-Olgii aimag, 40 km from the Tsagaannuur Free Zone, and 1,800 km from Ulaanbaatar. Since 1976, Mongolian geologists have conducted prospecting work there in stages, carried out preliminary assessment at some ore zones and also found new ore zones.
Source: Mongolian Mining Journal
SERVICE AND TRADE CENTERS RESUME OPERATIONS
According to yesterday’s decision of the Emergency Commission of Ulaanbaatar city, the service centers and shops in the capital city, which were temporarily shut down from March 10, have resumed their operation from today.
Under the decision, following service centers and shops in the capital city were under the temporary closure;
• All types of retail stores selling products other than grocery and products for household usage and their delivery services /Including all units of shopping malls, department stores and market places that are not selling groceries and household products/.
• All types of food delivery services
• All kinds of service centers except public showers /Including hair and beauty salons, tailor, shoe salons, dry cleaning services, all kinds of repair shops and services, photo printing, and moving services/.
• Auto repair shops, auto service and retail stores, except tire repair shops
• All types of quick-service places, except the points selling ‘Smart Card’ bus passes.
Source: Montsame
FUEL PRICE TO BE GRADUALLY LOWERED BY MNT 200 PER LITER
At today’s irregular meeting, the Cabinet assigned to work for cutting a retail price of fuel by MNT50 per liter and further gradually lower it by up to MNT200 in consistence with world market price, said Minister of Mining and Heavy Industry D.Sumiyabazar.
“Due to the novel coronavirus pandemic, the oil price has dropped at the international stock markets. Before the New Year, a barrel of oil cost USD64-65. But since January, the price started falling sharply, and as of March 18, global oil price per barrel showed a plunge from USD28 to USD22. Therefore, beginning today, a retail price of fuel is being cut by MNT50-100 per liter in the first instance. The Ministry, the Mineral Resources and Petroleum Authority, and fuel importers are working to reduce the retail price by up to MNT200 per liter by April 15, emphasized the Minister.
Source: Montsame
MONGOLIA IMPORTS 4.4 MILLION FACE MASKS
Mongolia imported 68.7 thousand of face masks in January 2020, 3.6 million in February and 770 thousand as of March 12 respectively.
As of the first three months of 2019, Mongolia imported a total of 1.2 million face masks and it has increased by 4.438.700 or 3.7 times in 2020.
Due to the sharply increased need of face masks due to the spread of COVID-19, the Customs offices are working to promptly pass face masks, which are being brought under aid and other personal protective equipment through border checkpoints.
Medical face masks are being imported with a special license from the Ministry of Health in accordance with 15.1 of the Law on Medicine and Medical Devices and special license is not required for import of regular face masks.
Source: Montsame
DBM PROVIDES MNT 300 BILLION IN LOANS TO CASHMERE PRODUCERS
Mongolian cashmere producers are planning to stockpile 5000 tonnes of raw material for production this year. They are expected to buy one kilogram of cashmere for MNT 100,000 – thus totaling MNT 456.1 billion.
So, earlier today (19 March), the Mongolian Government decided today to grant a total of MNT 300 billion in loans with 12 percent interest to the cashmere producers from the Development Bank of Mongolia.
Local producers will spend MNT 366 billion for buying 3600 tonnes of cashmere and to sell 6400 tonnes to foreign customers. They will wash 20 percent of cashmere, save 40 percent and produce 2.4 million pieces of final products by remaining 40 percent.
Source: News.mn, Montsame
STATE DEPARTMENT STORE FINED FOR FIXING MEAT PRICES
The Mongolian Government has warned businesses against ‘price gouging’ during the time of an advanced emergency readiness and preparation for preventing the spread of the killer coronavirus that has killed over 5800 people globally. As the epidemic spreads across the globe, people have been seen rushing to supermarkets to bulk buy ‘essentials’. This has become an opportunity for some unscrupulous to raise the price for their own ends.
Earlier today (17 March), the Authority for Fair Competition and Consumer Protection reported the results of an inspection at the State Department Store. According to officials, Nomin Tav Trade LLC which owns Mongolia’s most famous store, has been fined for MNT 20 million for artificially and illegally increasing the meat price. The prices of mutton and beef were increased by MNT1000-5000 per kg on 12-16 March.
Source: News.mn
MONGOLIA FORBIDS IMPORT OF CRASHED CARS
It has become common for crashed or damaged cars to be imported to Mongolia and then to be sold after having been repaired. According to statistics, 30 percent of car imports in Mongolia are of vehicles which are at least 20 years old. Many are no longer manufactured.
In December, the National Auto Transport Centre of Mongolia signed an important agreement with Japanese organizations handling car assessment. The agreement aims at establishing a database of car exports from Japan in order to prevent crashed or stolen cars ending up in Mongolia.
The agreement will come into effect from 1 April, 2020, after which, car buyers can track the origin of their vehicle and obtain other information.
Source: News.mn
‘MUNKHIIN TUN’ LLC PRODUCES 45 THOUSAND MASKS DAILY
The World Health Organization recommends regular usage of face masks in order to take preventive measures against the ‘COVID-19’ novel coronavirus that is transmitted through droplets in the air. Countries are having factories work at its full capacity to meet their domestic demand for face masks. During this difficult time, the only face mask factory in the country is operating 24/7, providing 45 thousand face masks each day.
No one enters this business because face mask production gives no profits. However, it is exactly during emergencies like this that it serves as a guarantee for the national security by providing for the domestic demand to a certain extent, highlighted General Director of ‘Munkhiin Tun’ LLC Ts.Altantsetseg.
In normal times, the factory produces about 100 types of products. However, today they have temporarily halted all other products aside from face masks and protective gear that are of high need in Mongolia, putting its over 200 workers to work at full capacity.
Source: Montsame
ELIXIR ENERGY OPTIMISTIC AMID MARKET SELL-OFF
Having last month reported Mongolia’s first ever coalseam gas discovery, Elixir Energy’s (ASX:EXR) saw its share price rally from 2.0 cents to 5.0 cents. However, with sharp falls in both the oil price and global equity markets, Elixir’s share price has since dropped back to 2.5 cps.
In response, Elixir Managing Director Neil Young has now provided an update on the measures that it has put in place to deal with the “extraordinary global circumstances that have arisen recently”. Young explains:
“For the oil and gas sector, we are faced with the double impact of COVID-19’s multiple health and economic impacts occurring at the same time as the collapse of OPEC & Russia’s agreement in regard to crude oil production.
“The not surprising result has been massive price falls in commodity prices as well as the share prices of energy resource companies, including our own…
Source: FinFeed.com
ORANO MINING DONATES MNT 1 BILLION TO NATIONAL EMERGENCY COMMISSION
Earlier today, U.Enkhtuvshin, Deputy Speaker of the Mongolian Parliament received H.E. Philippe Merlin, French Ambassador to Mongolia. The meeting started with good news about the Frenchman who is currently under treatment for Coronavirus in Mongolia, is stable without fever. The 57 year-old French national has confirmed having coronavirus on 10 March after arriving covid-19 free Mongolia.
Mr. Philippe Merlin delivered letter and a donation of MNT 1 billion (USD 361,354) from French company Orano Mining (Areva) to Mongolia’s National Emergency Commission. The French Covid-19 man works for Badrakh Energy, which is a subsidiary of Areva, in Dornogobi province.
In return, Deputy Speaker U.Enkhtuvshin expressed thanks for the donation and noted that there had not been any confirmed transmission of coronavirus infection from the Frenchman. He has had contact with nearly 500 people in Mongolia since arriving in Ulaanbaatar 2 March; tests have seem to indicate that they were not infected.
Source: News.mn
MONGOLIA MINING 2020 EXPO POSTPONED TEMPORARILY
Following the outbreak of the Novel Coronavirus in worldwide to inform that we are forced to postpone Mongolia’s largest international mining and oil expo 2020 originally planned to take place from 8 – 10 April 2020 in Ulaanbaatar, due to emergency situation related with the 1st Covid 19 case in Mongolia.
A new date for the expo is yet to be scheduled. We aim to organize Mongolia Mining 2020 prior to this summer's mining season for the best benefit of our exhibitors, partner and mining industry. Dates for the expo will be set depending on further circumstances and we will officially inform you at least 30 days prior to the new dates.
The venue and layout will stay the same and we will keep you fully confirmed booths. We would like to take this opportunity to thank you for your cooperation, ongoing support and understanding.
Source: Mongolian Mining Journal
ERDENE ANNOUNCES 2019 FINANCIAL RESULTS AND PROVIDES KHUNDII GOLD PROJECT UPDATE
In late January 2020, Erdene adopted protective measures which included travel restrictions, instituted remote working and extended health care support for our Mongolian and international teams to minimize the impact of COVID-19 on staff, stakeholders and our operations. Although we remain largely on track for the delivery of the BFS, there is the potential for delays, which we are closely monitoring. We will provide updates on our actions and the implications to our Company of COVID-19 as further information becomes available.
Erdene’s deposits are located in the Edren Terrane, within the Central Asian Orogenic Belt, host to some of the world’s largest gold and copper-gold deposits. The Company has been the leader in exploration in southwest Mongolia over the past decade and is responsible for the discovery of the Khundii Gold District comprised of multiple high-grade gold and gold/base metal prospects, two of which are being considered for development: the 100%- owned Bayan Khundii and Altan Nar projects. Together, these deposits comprise the Khundii Gold Project.
Source: Erdene Resource Development Corp.
ENTRÉE RESOURCES ANNOUNCES FISCAL YEAR 2019 RESULTS AND REVIEWS CORPORATE HIGHLIGHTS
The Oyu Tolgoi project in Mongolia includes two separate land holdings: the Oyu Tolgoi mining licence, which is held by Entrée's joint venture partner Oyu Tolgoi and the Entrée/Oyu Tolgoi joint venture property, which is a partnership between Entrée and OTLLC. On November 12, 2019 and January 16, 2020, OTLLC's 66% shareholder Turquoise Hill Resources Ltd. provided an update on underground development on the Oyu Tolgoi mining licence:
• Construction of Shaft 2 was completed in October 2019 allowing for the movement of 300 people per cage cycle versus a maximum of 60 people per cage cycle through Shaft 1. Underground development material is also being lifted to surface via the Shaft 2 production hoist.
• Productivity improvements resulted in increased underground lateral development rates during the fourth quarter of 2019, with an average rate of 1,607 equivalent meters ("eqm") compared to 1,214 eqm in the third quarter of 2019, with December seeing a record 1,809 eqm.
Source: Yahoo Finance
