Recent news
Rosneft to supply oil worth $1 billion in five years
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.
China approves opening-up of Erenhot border areas
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.
“The amendments will reintroduce a sense of urgency to the mining sector”
B.Baatartsogt, head of the geological policy department of the strategic policy and planning authority at the Ministry of Mining, was part of the working group on amendments to the Minerals Law, to bring it in sync with the recently adopted State Policy in the Minerals Sector. N.Ariuntuya talks to him on the amendments, now awaiting discussion in Parliament.
Prescription vs practice
Prescriptive prudence usually has no chance when pitted against political expediency. Some populism is inherent in democratic practice – after all the whole business is of, by, and for the people, we are told – and even if expediency is bad, there is no guarantee that the untried prescription would have been actually better.
Mongolian team visits multi commodity exchange in Mumbai
A high level 5-member delegation from Mongolia recently visited the Multi Commodity Exchange of India in Mumbai to get familiar with the various operational, economic and self-regulatory aspects linked to successfully operating a commodity exchange. The delegation was led by O. Erdenebulgan, Vice Minister, Ministry of Mining.
Draft regulations governing investment agreements
This is a translation of the just released draft regulations governing investment agreements under the new Investment Law. We have tried to keep the translation accurate but it is neither literal nor authorised.
Costly delay over a new petroleum law
A draft petroleum law was submitted to Parliament almost a year ago, and it is surprising that our lawmakers have not yet had the time to discuss it.
‘Break time’ beckons
We owe the clever phrase to L.Bayaraakhuu, CEO of the Mongolian Association of Metal Producers, who recently said his organisation hoped the industry would be able to revive itself in the ‘break time’ that appears to be almost upon us.