Mongolia News

Mongolia News

A Historic Window of Opportunity In Mongolia: Interview with James Passin 0

James Passin

Reposted from Business Insider

The Gold Report: James, the Bank of England (BOE), the European Central Bank (ECB) and the People’s Bank of China have made moves to boost flagging economies. The BOE added £50 million to its quantitative easing program. The ECB reduced its key lending rate to a record low of 0.75%. China cut its key lending rate for the second time in a month to prevent a further slump in manufacturing and a fall in property values. What effect will these moves have on the gold price through year-end? More…

Wealth Rises in Mongolia, as Does Worry 0

Ulan Bator, Mongolia’s capital, is rapidly gentrifying. A view of the city from Monet, a fine-dining restaurant.

Reposted from The New York Times
By Dan Levin

ULAN BATOR, Mongolia — Three kinds of foreigners, they say, prowl the world’s energy frontiers: missionaries, misfits and mercenaries.

Howard Hodgson, a weather-beaten Australian drilling executive with the mouth of a sailor, is proud to say he is in it for the money.

When he landed here more than a decade ago, Mr. Hodgson found an economic wasteland still reeling from the fall of Mongolia’s Communist overlords in 1990. More…

Australia’s New Play on Mongolia’s Resource Boom 0

Reposted from the Wall Street Journal
By Stephen Bell

Australian investors will soon have a new play on Mongolia’s resources boom, but it won’t be the usual suspects like copper and coal.

ASX-listed minerals explorer Strzelecki Metals plans to acquire unlisted Wolf Petroleum, which has rights to explore vast tracts of the Mongolian steppe for oil and natural gas. More…

Clinton’s Mongolia Trip Shows Economic Side of U.S. Asia Pivot 0

Reposted from World Politics Review
By Catherine Cheney

U.S. Secretary of State Hillary Clinton visited Mongolia on Mondayon the second day of her Asia tour intended to boost U.S. economic engagement with the region. She praised the Asian country as a model of democracy and called it an “inspiration.”

By visiting Mongolia, Clinton aimed to put to rest the idea that democracy is a Western ideal in conflict with Asian values, explained Stephen Noerper, senior vice president of the Korea Society. More…

Clinton Praises Mongolian System 0

Secretary Clinton on an official visit to Mongolia

Reposted from the Wall Street Journal
By James T. Areddy

U.S. Secretary of State Hillary Clinton told an audience in Mongolia that her visit is a reminder of U.S. support for democracy in a region where China’s influence continues to deepen.

In remarks Monday in Ulan Bator, Mrs. Clinton credited Mongolia with demonstrating that a blazing economy provides an opportunity to expand personal freedoms, and pushed back against repeated assertions from Beijing that democracy is unsuited to the region. More…

Mongolian Democracy Crawls, But Moves Ahead 0

Reposted from the Wall Street Journal
By Julian Dierkes

Reading some of the news out of Mongolia lately it would be easy to conclude that the country is on the verge of becoming yet another failed post-socialist experiment in democracy. Easy, but wrong. Parliamentary elections held late last month show an electorate exercising their rights, and institutions growing more functional at meeting the public’s demands. More…

Secretary of State Hillary Rodham Clinton’s Travel to France, Japan, Mongolia, Vietnam, Laos, Cambodia, Egypt and Israel 0

Secretary of State, Hilary Rodham Clinton

Reposted from U.S. Department of State
By Victoria Nuland
Department Spokesperson, Office of the Spokesperson

Secretary of State Hillary Rodham Clinton will travel to France, Japan, Mongolia, Vietnam, Laos, Cambodia, Egypt and Israel departing Washington, D.C. on July 5.

In Paris on July 6, Secretary Clinton will attend the third meeting of the Friends of the Syrian People. At that meeting, the Secretary will consult with her colleagues on steps to increase pressure on the Assad regime and to support UN-Arab League Special Envoy Annan’s efforts to end the violence and facilitate a political transition to a post-Assad Syria. Secretary Clinton will consult with French leaders regarding next steps on Syria as well as on a number of other key areas of global concern. More…

Can Mongolia avoid Nigeria’s mistakes? 0

An employee looks at the Oyu Tolgoi mine in Mongolia’s South Gobi region on June 23, 2012.

Reposted from The Globe and Mail
By Martin Hutchinson

In much of the developing world, natural resources seem to offer a handy way out of poverty. But they also present a curse. Mongolia, where the centre-right Democratic Party led last week’s elections on a wave of resource nationalism, would be wise to avoid the mistakes of Nigeria and other nations. Government and private fingers can get sticky, the bonanza wasted and non-resource activity burdened and incentive discouraged. More…

Mongolia Pushes Russia, China to Re-Route Planned Gas Line 0

Reposted from Bloomberg Business Week
By Yuriy Humber & Anna Shiryaevskaya

Mongolia is calling upon China and Russia to re-direct a planned natural-gas pipeline across its territory as the world’s fastest growing economy seeks to tap the cleaner-burning fuel.

Altering the route to pass through Mongolia would save 1,000 kilometers (622 miles) of pipeline, Mongolian President Tsakhia Elbegdorj said in an interview in Ulan Bator, the nation’s capital. More…

Mongolia President Sets 2012 Deadline for Picking Coal Partners 0

Reposted from Bloomberg Businessweek
By Yuriy Humber

Mongolia President Tsakhia Elbegdorj set an end-of-year deadline to select companies to develop part of its biggest coal field, seeking to resolve a year-long battle for the resource between groups from five nations.

Peabody Energy Corp. (BTU) (BTU), OAO Russian Railways, and China’s Shenhua Group are among companies affected by stalled talks to develop the West Tsankhi area of the Tavan Tolgoi coal deposit, Elbegdorj said in his Ulan Bator office. Mongolia is due to get a new government by September at the latest and resolving the impasse will be among its top priorities, he said. More…