Time to become developed country, producing nation

According to Media Office of Government of Mongolia on June 10,2010 Prime Minister S.Batbold has said in a speech during united session of Parliament on issue of mining Tavan Tolgoi:
“Great productive development led by Oyu Tolgoi is now going to be continued by Tavan Tolgoi.
Our desire and confidence are directed at goal of making Mongolia abundant, prosperous and developed country. There are many countries in the world that are rich with natural resources. There are not a few that got affluent by mining. But being rich does not mean being developed country. Along with being rich, a developed country is a producer country and its citizens adhere to not to expect for ready things but to productive mentality and productive labor.
Development of any country depends on many factors such as geographical location, ocean access, position in strategic policy of great powers, natural resources. Countries without sea access such as Botswana, Czech, Luxembourg show development   outcomes of hardworking and smart nations with capacity to produce wealth and products. There are countries of Japan, Korea and Singapore and many European countries as well that almost have no natural resources yet reached high development.
The ready deposits found on the territory of our motherland give to Mongolia many layered opportunities to not only become rich but producer nation and developed country.
That’s why the proposal to put Tavan Tolgoi into economic production is first and foremost based on policy to become DEVELOPED COUNTRY , PRODUCING NATION.
Also the policy reflects boosting development of industrial and infrastructure sectors to follow mining sector, equally distribute economic benefits to our 2.7 million citizens in a form of shares and provide opportunity to devote to health, education and residential needs.
Jobs are most created not in mining but in productive development in railroad, automobile roads, power, construction and infrastructure sectors to follow the mining.
State railroad policy and Pollution-free Ulaanbaatar project are connected to mining development, in particular, with putting Tavan Tolgoi into production. Government has proposed funding this productive development with revenues from mining sector.
Distributing share and bounty to every citizen from Human Development Fund is one part of this integrated policy.

Our esteemed goal is development of value-added production and having its revenues and profit remain in Mongolia. Inseparable part of the Tavan Tolgoi project is washing, concentrating and processing coal from Tavan Tolgoi.
We will implement a policy on development of domestic development of industry on a priority basis and are striving for export to markets of neighbor countries and third markets by as many routes and exits as possible. One of the methods of implementing goal of economic development of Mongolia is becoming a leading coal exporter country such as Australia and Indonesia. Experience of Brazil, Indonesia and Australia proves that during this process it is possible to create national mining enterprises that are leading in the world.
To continue important steps of developing market society and have citizens own property such as direct privatization of herds, residential apartments and land by previous Governments, a part of shares of state owned enterprise to own license of Tavan Tolgoi will be transferred into ownership of people and citizens of Mongolia according to law on Human Development Fund and certain part according to Law on Minerals is to be traded on domestic stock exchange.
We will adhere to principle of non- discrimination of citizens while having them receive benefits of mining wealth, equality and supporting human development. Every Mongolian has a full right to receive justly from a wealth of the motherland. Further, national companies will be provided an opportunity to equally own shares of the state owned enterprise and opportunity to participate in mining extraction and value-added enterprises on a priority basis.
Mongolia has no sea access. Therefore, we will work making counter conditions to guarantee sea access, national security and boost to development and progress. This is also covered by Tavan Tolgoi policy submitted.
Everyone who is close to politics understands well that if Tavan Tolgoi issue is not resolved during Coalition Government it would have risk of delaying productive development of the nation to establish major mining, railroad, residential and industrial complex by many years.
There is wise words of our people “ if it is discussed by all, it will be not be wrong”.
A time has come for us, Mongols, to become producer nation, progress and development to bring good time, time for great productive development and hard work.
A time not for waiting for a handout but to work. Time for producing not for expecting ready things.
A time not to extend hands to but move hands.
A time not to shake head but to have it work.
In this way, a foundation will be laid for new period of development and progress of Mongolia and
Mongolian people.

Together we can do it.”
In related coal news, according to PR/CPS Newswires on June 17,2010 , “Peabody Energy"s executives today observed that the company is in a strong position to create significant growth and shareholder value against the backdrop of very favorable long-term supply and demand fundamentals for the global coal industry. The outlook came at the company"s 2010 Analyst and Investor Forum inNew York, where senior executives reviewed the company"s long-term projects and prospects.
"I believe we are in the early stages of a long-term supercycle for coal. And Peabody, with its unmatched asset base, market positions and growth projects, is uniquely positioned to capitalize on this sustained trend," said Peabody Energy Chairman and Chief Executive Officer Gregory H. Boyce. "Peabody is poised for significant valuation growth from rising earnings and multiples."
“Peabody Targets Growth Projects in Australia, Asia and United States
Against this market backdrop, Boyce emphasized the strength of Peabody"s unique platform and growth projects. The company has leading positions in the fastest growing regions in the United States and Australia, and emerging opportunities in Asia. "High-growth regions offer greater opportunities to increase volumes, pricing and margins," said Boyce. "Companies such as Peabody, who have leading positions in these regions, warrant a significant premium to peers in more mature markets."
Peabody"s Australia platform is poised to supply increasing demand for coal throughout the Pacific Rim.
The company is advancing projects that could double its metallurgical and thermal export coal platform by 2014, targeting 35 to 40 million tons of production, assuming a favorable investment climate in Australia.
In the Asia-Pacific region, Peabody is developing a pipeline of projects and partnerships to expand its presence:
·        In China, the world"s largest coal consuming nation, Peabody is advancing a number of growth projects from those in the nascent stage to active construction, including joint ventures with potential partners including utilities, steel companies and coal companies.
·        In India, the world"s fastest-growing coal importer, Peabody was recently selected by Coal India as one of a few companies to serve as a key partner for long-term supplies and other strategic ventures.
·        In Indonesia, the world"s largest thermal coal exporting nation, Peabody is exploring partnerships with local suppliers, who are increasingly seeking new avenues to move coal to market.
·        In Mongolia, Peabody"s joint venture is driving exploration of dozens of resource licenses to develop coal properties, while continuing efforts to be a part of the development of the Tavan Tolgoi reserves.
Peabody President and Chief Commercial Officer Rick Navarre introduced a multi-pronged approach to build an Asian platform with a long-term goal of reaching 100 million tons per year. Peabody is targeting: increased exports from its Australian operations; expanded coal trading; participation in coal conversion and clean coal projects; active production through joint ventures; and development of a Mongolian export base.
"We expect global seaborne markets could be some 100 million tons short of coal by 2015 as emerging economies, led byChina and India, achieve growth rates that are two to three times that of developed nations," said Navarre. "Peabody has the resources and capabilities to fill this gap in the fastest-growing markets of Asia by capitalizing on our advantages: open-cut mining expertise; a strong safety and operating track record; and deep engineering, project management and trading capabilities. Through our "Asia 100" Vision, we look forward to turning prospects to projects to results as the decade progresses."

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