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www.MongoliaGrowthGroup.com | 1 April News Highlights MONGOLIA’S MARCH COPPER EXPORTS INCREASED 53% ON RISING OYU TOLGOI SALES Mongolia’s copper concentrate export volumes leapt 53% year-on-year in March, with rising output from the $6.5 billion Oyu Tolgoi project run by Anglo-Australian miner Rio Tinto driving up sales, official data showed. According to figures by Mongolia’s Naonal Stascal Office, copper concentrate accounted for 35% of the country’s total mineral export earnings in March, with sales totaling $349 million, a 67 % rise compared with $209 million a year earlier. (Source: Cover Mongolia) Ulaanbaatar-Paris direct flight will be oPened from JUne 2014 Mongolian Hunnu-Air Company is preparing to open a new route to Paris, France due to summer tourist peak season. The Ulaanbaatar-Paris-Ulaanbaatar direct flight will be conducted two mes a weeks, on Monday and Fridays deparng from UB. (Source: Cover Mongolia) mongolia’s mineral resoUrces stock market to Partner with toronto stock exchange Senior Vice president of Toronto Stock Exchange Ungad Chadda received Minister of Mining D. Gankhuga aſter PDAC 2014 Internaonal Convenon, Trade Show& Investor Exchange held on Toronto Canada. The Mining Ministry and Toronto Stock Exchange have agreed to establish a memorandum of understanding that would support the newly open Mineral Resources Stock Market in Mongolia. Within the framework, it expects Asia’s monetary flow would pass through Mongolia and TSE will assist with technical supplies and prepare Mongolian staff. Today there are 15 companies in Mongolia registered at the Toronto Stock Exchange. (Source: Cover Mongolia) AUSTRALIA AND MONGOLIA BUSINESS COUNCIL IS LAUNCHED During the official visit by Mongolian delegates to Australia led by Foreign Minister L.Bold a Mongolia- Australia Business Council was created on 20th March 2014. As of today over 170 Australian companies are conducng acvies relevant to Mongolia and about 40 enes have opened representave offices in Ulaanbaatar. (Source: Cover Mongolia) mongolia wants to regain inVestors confidence bY retUrning mining license Mongolia is preparing to overturn last year’s cancellaon of more than 100 mining licenses following a corrupon invesgaon, in a further aempt to revive inves- tor confidence in the mineral rich naon. Deputy Minister for economic development, Ochirbat Chuluunbat says “Mongolia has learnt a good lesson…the important thing for us is to create good jobs and good revenues” which is quoted as saying by FT.com. Currently government is intended to submit two bills to parliament that could smulate its mining sector and stoke investment. The second would allow mining in areas previously off-limits due to environmental concerns. If gov- ernment’s goodwill reaches Rio, Oyu Tolgoi will account 30% of the economy of the naon of just over 3 million people. (Source: Cover Mongolia) adb’s forecast on mongolian economY Asian development Bank report says developing Asia will achieve gross domesc product growth of 6.2% in 2014, and 6.4% in 2015. The region grew 6.1% in 2013. According to Asian Development Outlook 2014 (ADO) released on 2nd April, economic growth in Mongolia is forecast at 9.5% in 2014, driven by the start of copper producon at Oyu Tolgoi open pit mine last year and 10% in 2015. (Source: MONTSAME) Mongolia Growth Group April 2014 Economic Update
