Silk Road Reporters

Silk Road Reporters:  Several years ago, Mongolia was touted as a hot investment locale for mining companies, given its rich mineral resources – particularly gold, copper, uranium, and coal – and the previously low level of exploration and development.

In 2015, that outlook looks slightly more gloomy.

Throughout 2014, the Mongolian government has been battling with Rio Tinto over the massive Oyu Tolgoi gold and copper mine, with Mongolian officials demanding Rio Tinto pay $30 million in taxes. Rio suspended construction work at the mine in July 2014.

As a result, foreign direct investment in the country declined in 2014 by 81% compared to 2013, according to the Central Bank of Mongolia.

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Mongolia: Activist and Ambitious | The Diplomat

Mongolia: Activist and Ambitious | The Diplomat: "Nations from the world over have experienced high-level contact with Mongolia in the past year. Part of Mongolia’s diplomatic explosion was driven by a poor foreign direct investment outlook in the beginning of 2013—as a resource rich country, Mongolia’s economic well-being is highly contingent on the health of its mining sector."



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"Mongolian Foreign Relations Surge Indicates New Activist Agenda for 2014" / ISN

"Mongolian Foreign Relations Surge Indicates New Activist Agenda for 2014" / ISN: "Mongolia signed 63 bilateral and international agreements in 2013, including agreements with the United States, the European Union, Japan, and China. No agreements were signed with Russia, a situation that the Putin government must view as a worrisome sign of the continuing fragility of Russo-Mongolian relations. "



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| MENAFN.com

| MENAFN.com: "The conference features a keynote address from a director with the Ministry of Economic Development of Mongolia and presentations from up-and-coming and established Mongolian companies."



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Mongolia's mining boom raises environment concerns | Global Ideas | DW.DE | 01.04.2014

Mongolia's mining boom raises environment concerns | Global Ideas | DW.DE | 01.04.2014: "The mining giants have given a major boost to its economy: in 2014, Mongolia’s GDP is slated to spike by 15.3 percent, the highest growth rate in the world. In 2012, minerals comprised 30 percent of the GDP and more than 80 percent of exports, according to the Mongolia Research Hub of the Centre for Social Responsibility in Mining."



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Mongolian visit to Alaska Vigilant Guard continues partnership success - Alaska Star - March Issue 4 2014 - Eagle River, AK

Mongolian visit to Alaska Vigilant Guard continues partnership success - Alaska Star - March Issue 4 2014 - Eagle River, AK: "Alaska and Mongolia began their partnership in 2003 and conduct approximately six to eight joint exercises each year. The two regions were partnered due to their similarity in size, terrain, and natural disasters, with many citizens living in rural areas."



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Mongolia Economic Forum highlights scenarios for Mongolia through 2040 | UBPost News

Mongolia Economic Forum highlights scenarios for Mongolia through 2040 | UBPost News: "Mongolia’s biggest event on economic issues, the Mongolia Economic Forum, launched on Monday for the fifth time at the State Palace.
The two-day event was opened by Prime Minister N.Altankhuyag, who remarked, “Last year, the forum discussed the creation of unique Mongolian brands, but this year, it will emphasize production in Mongolia with the slogan, ‘Let’s create in Mongolia’.”
During his speech, he outlined projects planned by the government to increase production and diversify the economy. He noted that the government has planned to spend one trillion MNT on industrialization programs, to produce building materials, leather and woven clothes, and on the food industry and mining."



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Rio Writes Down $4.7 Billion of Unit Operating Mongolia Mine - Bloomberg

Rio Writes Down $4.7 Billion of Unit Operating Mongolia Mine - Bloomberg: "London-based Rio, the world’s second-biggest mining company by value, and Mongolia have been at loggerheads over the mine’s cost overruns and the long-term financing of Oyu Tolgoi, being developed by unit Turquoise Hill Resources Ltd. (TRQ) The construction of the underground section was suspended in August. Mongolia holds 34 percent of the Oyu Tolgoi mine, with Rio-controlled Turquoise Hill owning the remaining stake."



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Liver cancer among Mongolians among highest in the world: Is alcohol to blame? | UBPost News

Liver cancer among Mongolians among highest in the world: Is alcohol to blame? | UBPost News: "Mongolians have one of the highest rates of liver cancer in the world, with health officials saying that alcohol dependency emerges as a leading contributing factor.
Mongolian adults drink an average of three liters of pure spirits (such as vodka, both locally produced and imported) each year, despite heavy alcohol consumption being associated with a variety of adverse health and social consequences."



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INSIGHT: Meeting with abductee's daughter could propel Tokyo-Pyongyang talks - AJW by The Asahi Shimbun

INSIGHT: Meeting with abductee's daughter could propel Tokyo-Pyongyang talks - AJW by The Asahi Shimbun: "The Foreign Ministry announced March 16 that the Yokotas met with their granddaughter, Kim Eun Gyong, in Ulan Bator, Mongolia, between March 10 and 14. It was the first time that the Yokotas have met the 26-year-old daughter of Megumi."



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