Frontier Financial Markets Summary
Dear subscribers,

Enclosed please find your Frontier financial markets summary for  August 9, 2010 featuring report on Prime Minister S.Batbold ‘s visit to MEC’s Khushuut mine .
As always, if  you have any feedback, suggestions or comments  that you would like share with us please drop me a line at da@frontier.mn
 According to major Mongolian portal olloo.mn,  Media Office of the Government of Mongolia has informed on August 9, 2010 that “Exploration of Khushuut Mine is being done currently and amount of reserves is being finalized. Starting from coming October, extraction is to start and the concentrator plant will start operations too.
 
Prime Minister of Mongolia S.Batbold have made introductory visit to Khushuut Mine during his work in Khovd Province.
 
Khushuut Mine has coal reserves of 85 million tons  and half of them are coking coal. 85 million tons coal reserves have been determined by the amount of only fenced area to establish Khushuut mine. Local authorities have introduced that, besides it, in different areas there is full possibility to have huge reserves. Provincial Governor has said that although local citizens and civil movements have fought not have Khushuut touched, in the end, they have reached compromise and are to have the mine operate.
 
Over 800 Mongolians are working at the Khushuut mine. 310 kilometer paved road and bridge is being built here to connect with vertical axis road. Concession agreement is to be established by procedure of Government resolution and issue of coal exports is to be resolved. Also the same day the Prime Minister has made introductory visit with work of Khovd province’s Thermal Power Plant.”
 
In a report on the Prime Minister’s visit to Khovd province, major Mongolian daily “Zuuny Medee” informs of a local citizen’s words to Prime Minister that “not a minute should wasted in mining Khushuut”.