The Company Mongolian Mining Corporation (MMC) is a coking coal production and export company headquartered in Ulaanbaatar, Mongolia, and was the first local coking coal producer to be listed on the Hong Kong Stock Exchange. The company participates in the mining, processing and manufacturing of coal products, and owns and operates an open-pit coking coal mine at the Ukhaa Khudag deposit in the Tavan…
The Company Separate from Erdenes Tavan Tolgoi, Tavan Tolgoi (TT), or small Tavan Tolgoi, is one of the largest coal mining companies in Mongolia. TT has around 80m tonnes of coking coal reserves and 100m tonnes of high-grade thermal coal reserves. The company operates in Tavan Tolgoi, one of the world’s largest untapped coking and thermal coal deposits, located 267 km from the Chinese border in…
Mongolia is experiencing challenging times in the lead-up to the general elections in 2016. The country’s traditional balancing act between its giant neighbours has come under increasing pressure in recent months, while winning and maintaining international investor confidence continues to be a multi-faceted and essential task. However, expectations of rapid and sustainable growth among the country’s…
Wedged between two of the world’s largest economies, Mongolia’s trade and investment policies are something of a balancing act. Reliant on transit neighbours for both trade and the infrastructure to support it, this small, open economy has integrated with the global one by developing relationships with “third neighbours” to improve its terms of trade. As surging mineral exports in the past…
Given its small, open economy with abundant resources including coal, copper, gold, zinc and fluorspar, Mongolia faces the same boom-and-bust cycles of any resource-dependent nation. The country has the natural endowments to provide opportunities for its 3m citizens. However, managing fluctuating growth rates, ranging from -1.3% in 2009 to 17.3% in 2011, as well as investment, trade and fiscal revenues,…
While early 2014 was a time of considerable uncertainty for the banking sector in Mongolia, the year turned out to be much better than expected. No banks failed or faced runs, and the institution that generated the greatest concern – Golomt Bank – fared well in the end. As the sector’s third-largest player by assets, a collapse at Golomt Bank would have caused serious issues for the sector. However,…
Interview:G. Ganbold,Norihiko Kato ,D. Batsaikhan,Randolph Koppa What challenges does Mongolia’s economic slowdown pose for the banking sector? Where are there opportunities for growth? M. BOLD: Downturns are not a new occurrence for Mongolia or its banks. For the past few decades we have been a small, open economy prone to external shocks and market fluctuations. Growth is cyclical,…
The capital markets in Mongolia have benefitted of late from a series of positive reforms, key hirings and the introduction of new legislation. Together, these measures promise to help breathe life back into the country’s stocks and bonds. After almost four years of declining equity prices, more than half a decade with virtually no initial public offerings (IPOs) and weak-to-non-existent demand for…
When the venerable auction house Sotheby’s put a “very rare and important gilt bronze figure” up for auction in early December 2014 despite protests by the Mongolian government – including a strongly worded letter from the country’s minister of culture, L. Gantumur, claiming that the artwork had been obtained illegally from Mongolia – few people aside from specialists in the international…
Despite increasingly cosmopolitan dining, nightlife and shopping scenes in the county’s capital Ulaanbaatar, Mongolia’s real draw lies in its countryside. With its rolling grasslands, crystal-clear lakes, weathered peaks, authentic nomadic lifestyle and roaming herds of sheep, goats, horses and other four-legged creatures, even the most jaded of urbanites will find it difficult not to fall for…
