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Market

  • Figures revealed by the National Statistics Office show that foreign trade turnover in the first quarter of 2017 reached $2.76 billion, the highest amount for the first quarter in the past 5 years. Export revenue reached $1.3 billion, a 35% increase on a YoY basis, and also the highest first quarter earning ever, largely due to the fivefold increase in coal export earnings.
  • In 2010-2011, Mongolian economy had been hungry for investment. At that time we were excited about mega projects like Tavantolgoi, railway project, Sainshand industrial complex, all together were estimated for  MNT17 trillion and  we were hoping to raise money by issuing international bond and get loan as fast as we could.
  • Mongolia will ship 25,000 tons of coal to North Korea’s Rajin port this year as part of a trial project, the chairman of the Mongolian Railroad Authority has said.
  • Russia, with plans to quadruple its coal output levels by 2030, will begin building a new coal export terminal on its Pacific coast to increase its exports to Asia Pacific nations.
  • About a third of China’s iron ore mines have halted production and this could rise as high as 45 per cent by the end of the year if the price of the steelmaking raw material stays below $70 a tonne

  • Mongolia isn’t exactly what comes to mind when one thinks of East Asian or Pacific economic opportunities, yet for Russia, Mongolia is the key that it needs to unlock strategic relations with South Korea.
  • Rosneft has signed two 5-year contracts for oil products supplies with Magnai Trade and Shunkhlai, committing itself to supply more than one million tons of oil products worth more than $1 billion at current prices between June 2014 and May 2019.
  • A new experimental area for development and opening up at the border of north China’s Inner Mongolia Autonomous Region has been approved. It is a breakthrough for Erenhot, an inland port city which borders Mongolia, coming after two years of preparations.
  • In late January Mongolia enacted an amended gold royalty regime that lowers a gross tax on gold sales to 2.5 percent from up to 10 percent if a gold miner sells its production to the central bank. It’s a fascinating gambit by Mongolia to boost the size of its gold reserves, confidence in its inflating currency and growth of its official gold mining industry, which, according to reports, produced a modest 290,000 ounces gold in 2013, the vast majority of it exported.
  • Should the world’s largest rare earth elements (REE) producer China proceed to cap its exports within the next five years, it would probably not have a significant knock-on effect in the current global market, says critical REE project developer Frontier Rare Earths CEO James Kenny. He says the reason is that China is currently expected to fall short of its proposed 100,000 t/y export cap, leaving the present largely balanced market unaffected.
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