Thread: Mongolia's new model

Buddhism continues to flower in Mongolia
The practice, suppressed for decades by the Communist Party, is being reclaimed by Mongolians as an integral part of their national identity.
http://www.latimes.com/news/local/la...,7435265.story


A monk leaves Erdene Zuu, Mongolia’s oldest Buddhist monastery, built in 1585 in the ancient capital of Karakorum. At its height, Erdene Zuu was home to 67 temples and 1,500 monks. (Nomi Morris, LOS ANGELES TIMES / July 9, 2010)


Reporting from Shand Khiid, Mongolia — In the crimson-painted interior of a monastery in central Mongolia, boys as young as 6 face one another cross-legged on benches and chant Tibetan Buddhist prayers that they barely understand.

Some fidget and get up every now and then to ladle bowls of fermented horse milk from a large metal vat. Their teachers occasionally call out directions.

The boys are at a three-month religious camp at the monastery, Shand Khiid. The oldest monk in residence is 97. A visiting sage from Tibet relaxes in a back room, watching sports on television.

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According to a monk who showed a group of visitors around one recent day, the monastery guarded Genghis Khan's black flag of conquest until it was moved to Mongolia's National Museum of History in 1994. Four years earlier, the collapse of Soviet-bloc communism had led to the ouster of Mongolia's Communist Party.

Today, Buddhism in Mongolia continues to emerge from a decades-long hiatus.

"During the Communist period, you had a devastation of Buddhism in terms of the material culture and the loss of knowledge," said Vesna Wallace, a professor of religious studies at UC Santa Barbara. "Now more people are coming to temples and visiting monasteries. There is also a new interest in meditation among the general public."

Wallace, an expert on Mongolian Buddhism, has spent the last 10 summers there and has seen Buddhist youth groups grow from three or four people to major gatherings. She says Mongolians have reclaimed Buddhism as an integral part of their national identity.

Couples who grew up with no religion are now choosing to be married in temples and by monks. The Gandan monastery in the capital, Ulan Bator, is the largest in the country and busier than it's been in decades.

Mourners across Mongolia are again consulting monks before deciding whether a loved one should be buried, cremated or left outside to the elements for what's known as a "sky burial."

And prayer piles, enormous cairns known as ovoos, have sprung up around the countryside. Truck drivers leave punctured tires to pray for safe travels and shepherds leave livestock skulls in hopes of a healthy herd. Blue scarves flutter in the wind, symbols of the blue sky that Mongols worshiped in the pre-Buddhist period.

Mongolian Buddhism is predominantly the Yellow Hat sect of Buddhism practiced in Tibet and China. But Wallace says it has evolved into its own version, having incorporated the pre-Buddhist religion of tangarism as well as shamanistic influences.

"Tibetans prefer white scarves, Mongolians prefer blue," she said. "Even certain deities that are preferred by Mongolian Buddhism are the blue ones that represent eternity, spaciousness and the comprehensiveness of the sky."

Mongolia, with half of its 2.8 million people living in Ulan Bator, is one of the most sparsely populated countries in the world, with vast tracts of open grassland. In 1578, Genghis Khan's descendent Altan Khan made Buddhism the official religion, installing the Tibetan Sonam Gyatso as Dalai Lama and conscripting males to monasteries instead of into the army.

The country's oldest monastery, Erdene Zuu, was built in 1585 in the ancient capital of Karakorum, the ruins of which can still be seen near the town of Kharkhorin. At its height, Erdene Zuu was home to 67 temples and 1,500 monks. Today, 28 monks live on the site and 18 structures still stand. The monks use one temple for study and chanting, while the other buildings are open to the public.

In 1937, the Soviet-allied Mongolian Communist Party banned Buddhism and persecuted its 100,000-strong priestly class. The government executed nearly 20,000 lamas, or Buddhist teachers, and at least 10,000 educated monks. Another 10,000 were sent to Siberian labor camps. Most of the country's 2,000 monasteries were destroyed.

During decades of official atheism, some Buddhists continued to practice their faith privately in their homes. The devout would pretend to play cards but instead discuss Buddhism and pray. Children would act as guards to make sure no officials were coming.

"My mother is a very strong Buddhist. Even in the Communist time, when she had a problem and a child was sick, she would visit a monk's home to ask advice. It was so secret," said Enkhtuya, 40, an elementary school teacher in Ulan Bator. Like many Mongolians, she uses only one name.

Munkhbaatar Batchuluun was 11 when democracy arrived in 1990. Elders in his village southwest of Ulan Bator restored their small yurt-shaped monastery and revived chanting ceremonies.

"It was very new. People were brainwashed against religion. I was very curious and visited," recalled Munkhbaatar, now secretary of foreign relations at the Gandan monastery. "I was so impressed I went home and asked my parents if I could join. At first they weren't happy; people would laugh at monks and tease them as state enemies. But eventually my father agreed."

Much has changed. Most Mongolians now identify themselves as Buddhist. And the Dalai Lama has made seven visits to Mongolia, five of them since 1990.

Still, it has been a struggle to re-educate the public, especially since few sacred texts are translated from Tibetan to Mongolian, and there still aren't enough teachers.

In recent years, a new competitor has arisen: Christianity. Many Christian missionaries arrived in Mongolia after the fall of communism, just as they did in Eastern Europe. The largest groups now converting Mongolians are American Mormons and South Korean fundamentalists.

Still, as grandparents show their grandchildren around monasteries explaining the prayer wheels, altars and parchment books, it is clear that Buddhism runs deep in Mongolia.

"The Communists cleaned it from our body and from our speech, but they couldn't remove it from our souls," Munkhbaatar said. "The people may not have a lot of Buddhist education and understanding, but they have Buddhist faith."

MERITUS CONTINUES DRILLING IN MONGOLIA
http://www.marketwatch.com/story/mer...k=MW_news_stmp

Sep 17, 2010 (TheNewswire.ca via COMTEX) -- (via Thenewswire.ca)

Vancouver, B.C. Meritus Minerals Ltd. (the "Company") (TSX-V - MER) is pleased to announce that its previously announced drill program at its property at Gutain Davaa, Mongolia continues on schedule. The Company announced initial results on August 12, 2010.

The Company confirms that it has no material changes to report at this time.

Meritus Minerals Ltd (C.MER) is a mineral exploration company committed to building shareholder value through the acquisition of base and precious metal properties. For additional information, contact Richard Schnoor at 604 618-9327.

On Behalf of the Board of Directors

Meritus Minerals Ltd.

Terence E. Bates - CEO and President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further Information please visit our website at: www.meritusminerals.com

For the purpose of this release the qualified person is Terence E. Bates, MSc (Geol) the Company's CEO and President. All technical information in this release has been reviewed or compiled by Mr. Bates. Mr. Bates is a Fellow of the Australian Institute of Mining and Metallurgy and a qualified person as defined by NI 43-101.

Taiwan, Mongolia in charter flight talks: MOFA
http://focustaiwan.tw/ShowNews/WebNe...D=201009210018


Taipei, Sept. 21 (CNA) Taiwan and Mongolia are contemplating setting up direct charter flights to promote bilateral tourism and trade relations, a Ministry of Foreign Affairs (MOFA) official said Tuesday.

"Both sides are keen on developing closer exchanges and boosting tourism. Currently we are in talks on possible charter flights, which would benefit tourists from both sides if the deal goes through, " Lin Jinn-jong, director-general of the MOFA's Department of West Asian Affairs, said at a press briefing.

The direct charters would lower airfares between the two destinations to around US$500 from the current US$1,000, Lin said. At present, visitors must enter Mongolia via third countries, such as South Korea and China.

About 2,000 Taiwanese tourists visit Mongolia annually, Lin said. Charter flights would not only benefit tourists but also 400 Mongolian students in Taiwan.

According to Lin, although bilateral trade volume is small, the US$8.02 million in trade between Taiwan and Mongolia in the first half represented 207 percent growth compared to the first six months of 2009.

As of 2009, Taiwan is Mongolia's 15th largest trade partner and Taiwanese companies had invested US$19.65 million there.

Taiwan does not have official diplomatic ties with Mongolia, which declared independence in 1911, the year that the Qing Dynasty fell.

However, Lin said, the central Asian country is intent on improving its economy through tourism and attracting foreign investment from foreign countries, including Taiwan.

That was why the charter flight issue was raised during the 9th Taiwan-Mongolia Joint Economic Meeting, which was held in the Mongolian capital of Ulaanbaatar on Sept. 9, he said.

More than 100 participants from Taiwan's Chinese International Economic Cooperation Association and its counterpart the Mongolian Chamber of Commerce and Industry attended the meeting, which will be held in Taiwan next year. (By Chris Wang)

Where to buy Mongolian currency in UK?
http://www.lonelyplanet.com/thorntre...readID=1942647

Mineral Rich Mongolia (Video)
http://www.cnbc.com/id/15840232?video=1599004402&play=1
Airtime: Fri. Sept. 24 2010 | light e) ET
Mongolia is the best performing global market year-to-date, with H.E. Sükhbaataryn Batbold, Mongolia Prime Minister.

Mongolia may benefit from being late to party
http://blogs.reuters.com/columns/201...late-to-party/

The Mongol conqueror Genghis Khan may have been an ardent proponent of an early form of globalization. But Mongolia has taken its time embracing international capital markets. Now this “Mortar Economy” — the country is wedged between two BRICs, Russia and China — may be set for rapid growth.

Mongolia is on the verge of opening a stock exchange. The market will finally plug the landlocked nation into the grid of global finance, facilitating privatizations, investment, and the flow of capital to would-be entrepreneurs among its 3 million people.

And the money almost certainly will flow. While still small at around $6 billion, Renaissance Capital reckons Mongolia’s GDP will be the world’s fastest growing over the next five years, growing to $23 billion by 2013. Handling that growth will be a big challenge.

Luckily for Mongolia, it doesn’t, for example, have to reinvent the wheel with its bourse. The London Stock Exchange is the frontrunner among four contenders to run an Ulan Bator exchange. In theory, that will allow the nation to vault overnight from markets not so different from the city’s Naran Tuul bazaar right to electronic trading.

That should help the government implement its privatization program. It is committed to handing a tenth of all proceeds to its citizenry, almost a third of which is still nomadic. Developing an exchange means Mongolians can receive tradable securities in state companies with market prices. That should avoid the missteps of Eastern European nations which handed out vouchers without obvious value that were quickly accumulated by today’s oligarchs. There are also plenty of case studies that may help Mongolia manage cash inflows and their potential impact on its currency, the tugrug, and economy.

Perhaps more by luck than judgment, Mongolia’s tardy return to the global scene may also be well timed. It is estimated to have the world’s second-biggest reserves of copper and uranium, and the 11th biggest stock of coal.

Put it all together, and some eight centuries after its last big international venture, Mongolia stands to benefit from the convergence of three booms: in China, in commodities and in the edgiest of emerging markets.

Mongolian Mining Raises Price Range for Hong Kong Initial Public Offering
http://www.bloomberg.com/news/2010-0...-update1-.html

Mongolian Mining Corp., the country’s biggest privately owned coking coal producer, boosted the amount it’s seeking from an initial share sale in Hong Kong as demand for stock rises in a market trading at the highest level in more than eight months.

The company and its shareholders are targeting as much as HK$5.44 billion ($701 million) from the sale of 719.4 million shares at HK$6.48 to HK$7.56 apiece, according to terms for the sale. The amount is 3 percent above the maximum HK$5.28 billion sought under the previous price range.

Mongolian Mining’s IPO will be the biggest on record by a company from the landlocked Asian nation, according to data compiled by Bloomberg going back to 1999. The stock being sold represents about 20 percent of the company, according to initial terms for the transaction, which would give Mongolian Mining an estimated market capitalization of $3.5 billion.

“Receptions should be positive for such stocks as coking coal is scarce compared with thermal coal,” said Lawrence Lau, an analyst of Bank of China (Hong Kong) Ltd. “The market sentiment has improved with people taking on more risk.”

Mongolian Mining is selling shares in Hong Kong where the Hang Seng Index has surged 9.1 percent from a six-week low on Aug. 31 amid rising confidence in the global economy. The gauge gained 1.1 percent as of 2:41 p.m. today, set to close at the highest level since Jan. 11.

Price Forecasts

Citigroup Inc. and JPMorgan Chase & Co. are managing Mongolian Mining’s IPO. The shares are being priced at 11.6 times to 13.6 times the company’s forecast 2011 profit and 7.6 to 8.9 times its estimated 2012 earnings, according to the term sheet obtained today.

Of the proceeds, about 50 percent will be used to improve transport links and infrastructure, Chief Executive Officer Battsengel Gotov told a press briefing in Hong Kong today. About 40 percent will go toward exploration and acquisitions, he said.

Production at the company’s pit at Ukhaa Khudag was 1.8 million metric tons in 2009 and will likely rise to 3.8 million tons this year, Gotov said. The company plans to raise production to 15 million tons a year by 2013 to meet increasing demand for coking coal among China’s steelmakers, he said.

Mongolian Mining is based in the Tavan Tolgoi area, south of Ulaanbaatar and about 240 kilometers (149 miles) from the border with China. Tavan Tolgoi holds about 6 billion metric tons of coal in the deserts of southern Mongolia, making it one of the world’s largest unexploited reserves of the fuel.

Previously, Mongolian Mining and its investors planned to sell shares at HK$6.29 to HK$7.34 apiece, according to last week’s term sheet.

Canada Expands Agricultural Cooperation with Mongolia

http://online.wsj.com/article/BT-CO-...28-713728.html

WINNIPEG (Dow Jones)--Canada has increased its agriculture cooperation with Mongolia with the signing of an important Agriculture Memorandum of Understanding between the two countries, Agriculture and Agri-Food Canada said Tuesday in a statement.
Canada's Agriculture Minister, Gerry Ritz, joined the Ambassador of Mongolia to Canada, His Excellency Tundevdorj Zalaa Uul to sign the MOU which will be key to enhancing bilateral relationships between Canada and Mongolia.
The signing was witnessed by Canadian Prime Minister Stephen Harper and Mongolia's Prime Minister Sukhbaatar Batbold. "International trade and cooperation is key to making sure Canadian farmers can make their money from the marketplace," said Ritz.
The MOU will offer a sharing platform between the two countries and give Mongolia and Canada a better understanding of each other's systems, policies and regulations. It will facilitate sharing of best practices as well as strengthen agricultural cooperation and commercial relations between the two countries.
The MOU will help foster alliances between commercial interests, facilitate exchange of technology, expertise and be a catalyst for future trade, according to the statement. For example, Canada has commercial opportunities in agricultural machinery and livestock production in Mongolia. Canada's world class genetics will certainly contribute to further the development of Mongolia's animal industry.

Ivanhoe Mines finds new gold-copper zone at Oyu Tolgoi in Mongolia
http://www.proactiveinvestors.com/co...olia-8750.html

Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) said Tuesday it has discovered a new mineralized gold-copper zone, now to be known as Heruga North, at its Oyu Tolgoi project in southern Mongolia.
The company intercepted almost one kilometre of near-continuous gold and copper mineralization in drill hole OTD1510, making it the longest exploration drill intercept of gold and copper mineralization recorded since Ivanhoe began drilling at the site in 2001.
Over the entire 938-metre intercept, OTD1510 averaged 0.42 g/t gold and 0.46% copper, with a copper equivalent (CuEq) grade of 0.76%, at a down-hole depth of between 1460 and 2398 metres.
Significant intersections of hole OTD1510 included 112 metres grading 1.36g/t gold and 0.34% copper, with CuEq of 1.21% at a down-hole depth of between 2,286 and 2,398 metres.
In addition, individual two-metre samples near the bottom of hole OTD1510 returned gold assays of approximately 10g/t- among the highest gold grades ever drilled at Oyu Tolgoi, the company said.
"To intercept almost one kilometre of copper and gold mineralization in a new drill hole is a remarkable development, considering that we already have drilled more than 1,650 holes totalling almost 900 kilometres at the project during the past 10 years," said chairman of Ivanhoe, Robert Friedland.
Indeed, the company believes that hole OTD1510 confirms its view that the Oyu Tolgoi mineralized system contains significantly more gold and copper than reported to date under NI 43-101 compliant standards, validating the property's expansion potential.
Ivanhoe said that the intercept indicates that Heruga North is part of a 2.5-kilometre, gold-rich mineralized extension of the Heruga Deposit, stretching north from the southern border of the Oyu Tolgoi mining licence to the southern Oyu deposits. The company has drilled 43,500 metres of wide-spaced diamond drilling into the Heruga North zone since 2008.
The company has now begun drilling a daughter hole, OTD1510B, as a way to better understand the extent of the gold-rich mineralization found in hole OTD1510.
"It's possible that Heruga and Heruga North eventually could be developed together as one of the world's largest underground gold mines," Friedland added.
Ivanhoe said that though there has been insufficient drilling to define a mineral resource at Heruga North, based on the current dimensions of the new mineralized zone, the company believes that the target could have similar tonnage and grade to the Heruga deposit, which contains an estimated 10.2 billion pounds of copper and 15 million ounces of gold.
The company currently has two diamond rigs drilling additional holes from surface into Heruga North to further the discovery towards an initial inferred resource estimate.
Construction of Oyu Tolgoi is on schedule to begin initial production in late 2012, Ivanhoe concluded.
Ivanhoe Mines has operations focused in the Asia Pacific region. Its assets include the company's 66% interest in the Oyu Tolgoi copper-gold mine; its 57% interest in Mongolian coal miner SouthGobi Resources (TSX: SGQ; HK: 1878); a 63% interest in Ivanhoe Australia (ASX: IVA), a copper-gold-uranium-molybdenum-rhenium exploration and development company; and a 50% interest in Altynalmas Gold, a private company developing the Kyzyl Gold Project in Kazakhstan.
The company was up 4% in mid-afternoon trading on Tuesday, to $24.81 as of 1:58pm ET on the Toronto Stock Exchange.

http://www.marketwatch.com/story/cle...k=MW_news_stmp

Clean Coal Technologies Provides Update on Inner Mongolia Project




CORAL SPRINGS, FL, Sep 28, 2010 (MARKETWIRE via COMTEX) -- Clean Coal Technologies, Inc., CCTI (pinksheets:CCTC), a clean energy technology company, today provided the following update on the progress of their Inner Mongolia Joint Venture.
Doug Hague, Chief Operations Officer, has recently returned from China where he met with various potential clients, in addition to Inner Mongolia government officials and the Company's joint venture partner.
-- The Company has received confirmation that all the necessary permits have been approved, and have been submitted to the Inner Mongolia Provincial government for final validation. This should follow the Chinese National holiday which ends on October 7, 2010. Regional Vice Governor Bu has provided the Company with a letter attesting to the Provincial government's approval schedule.-- The Company has elected to await the final approval prior to proceeding to the next phase.-- Upon official validation, Vice Governor Bu will schedule a ground breaking ceremony on behalf of the local Regional government.-- CCTI will schedule a formal international acceptance event once the first CCTI module has been commissioned and accepted.-- With Inner Mongolia winter ahead, commencement of construction activities would not be scheduled prior to Spring 2011.-- The joint venture has completed the initial excavations for the coal storage areas, plus the barracks to accommodate up to 1,000 workers, and the construction of the first of three concrete manufacturing plants. All primary access roads are now completed, and the internal roads within the industrial park are under construction. Additionally, the Joint Venture has received the permit to commence construction on the rail spur into our location, which is scheduled to commence in early Spring, 2011.