May 29 headlines
A group of Mongolians has decided to get in on the mining action by forming their own corporation. They figure that there’s no sense in foreign companies doing the mining, when they can have an IPO in Hong Kong or Toronto to raise the money to set up their own mining concern.
The city of Ulaanbaatar has set aside 12 hectares for the construction of 4,000 new apartments by a South Korean firm.
The death toll in the spring snowstorm has risen to 29, and at least 100 Mongolians are missing.
Mongolia is considering eliminating gold from the 68% windfall tax. Since enactment of the tax, mining activity has not decreased, but the amount of gold being reported and paid to the national bank has slipped.
There are now more than 1700 cases of hand-foot-mouth disease in Mongolia.