Эх сурвалж: www.reuters.com
Mongolian citizens offer cash, jewellery, horses to pay off gov’t debt
Private citizens in Mongolia are donating cash, jewellery, gold and even horses to help the government make a near $600 million payment to bondholders next month.
Coking coal’s bubble deflates, China’s imports from North Korea remain key: Russell
If you wanted to see what a speculative commodity bubble looks like, then coking coal’s huge rally in the second half of last year and subsequent retreat provides a good example.
In latest move, China halts over 100 coal power projects
China’s energy regulator has ordered 11 provinces to stop more than 100 coal-fired power projects, with a combined installed capacity of more than 100 gigawatts, its latest dramatic step to curb the use of fossil fuels in the world’s top energy market.
China to plow $360 billion into renewable fuel by 2020
China will plow 2.5 trillion yuan ($361 billion) into renewable power generation by 2020, the country’s energy agency said on Thursday, as the world’s largest energy market continues to shift away from dirty coal power towards cleaner fuels.
China coal output, demand to rise even as excess under fire
China expects coal output and demand to increase by 2020 even as it aims to cut 800 million tonnes of outdated capacity as the world’s largest consumer of the fuel ramps up years-long efforts to tackle smog and make its manufacturing sector more efficient.
Mongolia’s nomad herders facing winter disaster as temperatures plunge
Mongolia’s traditional nomads are facing a natural disaster known as “dzud”, where frigid temperatures and heavy snow cause widespread livestock deaths, threatening herders’ livelihoods.
Turquoise Hill resumes Mongolia mine shipments to China
Turquoise Hill Resources Ltd said on Wednesday it had resumed concentrate shipments from its giant copper-gold Oyu Tolgoi mine in Mongolia following talks with Chinese and Mongolian authorities.
Moody’s says sharp deterioration in fiscal, external positions underpin Mongolia’s Caa1 rating
Moody’s says sharp deterioration in fiscal and external position underpin Mongolia’s Caa1 rating, despite strong medium-term growth potential
Coking coal surge may extend if China cracks down on North Korea
The already elevated price of coking coal could be boosted further if China decides to crack down on coal imports from its nuclear-armed neighbor North Korea.
Turquoise Hill suspends Mongolia mine shipments to China
Turquoise Hill Resources Ltd said on Friday it has suspended concentrate shipments from its giant copper-gold Oyu Tolgoi mine in Mongolia across the Chinese border, blaming problems with a crossing route.
China slaps new fees on Mongolian exporters amid Dalai Lama row
A major border crossing between China and Mongolia has imposed new fees on commodity shipments between the two countries, amid a diplomatic row sparked by the visit to Ulaanbaatar of the Tibetan spiritual leader the Dalai Lama last week.
Britain, Mongolia pledge to do more mining together
Britain and Mongolia signed their first memorandum of understanding in the mining sector on Tuesday, pledging an exchange of technology and expertise, and deepening ties based on Rio Tinto’s huge copper mine in the South Gobi desert.
Fitch Downgrades Mongolia to ‘B-’; Outlook Stable
Fitch Ratings has downgraded Mongolia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘B-’ from ‘B’. The Outlooks are Stable. The issue ratings on Mongolia’s senior unsecured foreign-currency bonds have also been downgraded to ‘B-’ from ‘B’.
Moody’s downgrades Development Bank of Mongolia’s rating to Caa1 from B3
Moody’s downgrades development bank of mongolia’s rating to caa1 from b3; changes outlook to stable
China reverses coal mining curbs as winter approaches
China adopted new rules to stimulate coal production on Thursday to counter surging prices and Premier Li Keqiang said the country had to balance demand for heating over winter with efforts to tackle pollution.
Mongolia’s economy shrinks in first nine months as it discusses bail-outs
Mongolia’s economy shrunk in the first nine months of the year, stoking concern annual growth could contract for the first time since the global financial crisis while it weighs bail-out options from agencies such as the IMF and partner countries.
ERBD: GDP Mongolia -1.6% (2017)
The European Bank for Reconstruction and Development has warned of a potentially “scary” economic hit to its bloc of countries if Britain’s exit from the European Union goes badly and fuels a backlash against market economy reform.
Rio Tinto set to quit Guinea iron ore project with sale to Chinalco
Rio Tinto (RIO.AX)(RIO.L) has signed a preliminary deal to sell its stake in Guinea’s Simandou project to Chinalco (3668.HK), it said on Friday, injecting impetus into the long-stalled scheme to develop the world’s largest untapped iron ore reserves.
China’s steelmakers the relative winners in coking coal surge: Russell
While no steel maker will be happy with the explosion in coking coal prices, Chinese mills are the best placed to deal with the impact, given they are nowhere near as exposed to spot prices as competitors in the rest of Asia and Europe.
As Mongolia teeters, bond investors bank on China for bailout
Holders of Mongolia’s high-yielding dollar bonds are looking beyond a sharp rise in sovereign default risks on a bet that China or the International Monetary Fund (IMF) will help the once-booming commodity producer to stay solvent.
London court freezes $8 mln of assets of Mongolian miner EMC for debt
A London court has issued an order allowing the UK assets of Mongolian copper miner Erdenet Mining Corporation (EMC) to be frozen, following a long-running dispute with Swiss firm MRI Trading AG, sources familiar with the situation said on Tuesday.
Mongolia asks Rio Tinto to speed up work on giant copper mine
Mongolia’s prime minister has asked Anglo-Australian miner Rio Tinto to step up the pace of construction at the giant Oyu Tolgoi copper-gold mine, part of efforts to revive the country’s debt-ridden economy.
Fitch: Mongolia’s Refinancing Risks Deepen as Currency Plummets
The rapid depreciation of the Mongolian tugrik – which has plunged more than 20% since end-June – underscores the country’s strained external liquidity and escalating refinancing risks, says Fitch Ratings. Fitch believes the currency volatility reflects deep short-term external liquidity constraints and economic challenges, while immediate solvency risk is mitigated by the fact that the [...]
S&P lowers Mongolia’s long-term rating’B-’ on weakening growth performance
S&P lowers Mongolia sovereign credit rating to B- From B
Mongolian Olympians left unpaid as country wrestles with crisis
As mostly sports-mad Mongolians cheer on the country’s two medallists at the Rio Olympic Games, deepening economic troubles at home mean the new government cannot afford to pay its athletes.
Mongolia raises interest rates in bid to stabilise tumbling currency
Mongolia raised its benchmark interest rates by 4.5 percentage points to 15 percent on Thursday, the central bank said, as it struggles to stabilise a currency that has been in free-fall.
Coal’s rally is at risk from lower China imports in August
If you believe that thermal coal’s rally this year has been largely on the back of rising Chinese imports, it follows that any sign of moderation in demand in the world’s biggest buyer would raise a red flag of caution.
Mongolia’s new election rules handicap smaller parties, clear way for two-horse race
Democratic values that flourished in Mongolia in the quarter century since communism crumbled have been eroded, according to small parties that have been marginalized by changes to election rules ahead of next month’s parliamentary poll.