Friday, April 08, 2011
Unknown
This is featured post 1 title
Replace these every slider sentences with your featured post descriptions.Go to Blogger edit html and find these sentences.Now replace these with your own descriptions.
This is featured post 2 title
Replace these every slider sentences with your featured post descriptions.Go to Blogger edit html and find these sentences.Now replace these with your own descriptions.
This is featured post 3 title
Replace these every slider sentences with your featured post descriptions.Go to Blogger edit html and find these sentences.Now replace these with your own descriptions.
Friday, April 8, 2011
Tuesday, April 5, 2011
Wednesday, March 30, 2011
Monday, February 28, 2011
Saturday, February 26, 2011
Workers' Compensation Insurance
The first four papers in this volume address benefit system policy matters, and the last ten papers address the pricing, regulation, and potential insolvency of workers' compensation insurance.
Within each general area, the papers are arranged in such a way that the first papers address broad issues of workers' compensation benefits and prices; the later papers address issues which are more specific in nature. The first four papers address:
* the determinants of the level of workers' compensation benefit level;
* the determinants of the shape and location of a loss distribution; and
* the factors that affect the propensity of temporary total disabilities to become permanent disabilities.
Within each general area, the papers are arranged in such a way that the first papers address broad issues of workers' compensation benefits and prices; the later papers address issues which are more specific in nature. The first four papers address:
* the determinants of the level of workers' compensation benefit level;
* the determinants of the shape and location of a loss distribution; and
* the factors that affect the propensity of temporary total disabilities to become permanent disabilities.
Thursday, January 20, 2011
LSE Partners with Mongolia Stock Exchange. Major Boost for MSE and Real Coup for LSE.
LSE signs strategic partnership with the Mongolian Government. The London Stock Exchange Group ("LSE") and the Mongolian State Property Committee ("SPC") have signed an exclusive Strategic Partnership Agreement to restructure and develop the Mongolian Stock Exchange ("MSE"), according to the joint press release made public yesterday. In our view, this is an important milestone in the development of the Mongolian securities market with long term positive impact. According to the agreement, LSE will appoint a management team to oversee MSE development and privatization, and will provide trading and surveillance infrastructure. The MSE is expected to go through a comprehensive reform and upgrade as LSE plans to be involved from advisory and training on capital markets infrastructure and legislative framework, modernisation of market rules and operations to expansion of tradable asset classes (derivatives and ETFs) and introduction of "international standard Mongolian market index".
Win-win partnership. In our view, both LSE and MSE will benefit from this partnership. Under LSE management, MSE should become an effective source of capital for Mongolia companies and widen opportunities for local and international investors with expected IPOs and increased market size. At the same time, with its expertise and technology, LSE will gain access to the resource-rich frontier market and should be able to compete effectively with large regional stock exchanges such as the Hong Kong Stock Exchange (HKEx), especially for international IPOs and dual listings of major Mongolian state-owned enterprises (SOEs), most importantly Erdenes Tavan Tolgoi. We view that this partnership increases LSE's chances to become a strategic shareholder when the Mongolia government proceeds with the MSE privatization.
MSE to continue global outperformance. We believe the partnership with LSE will help MSE to become one of the best performing stock markets in 2011 and beyond, following its impressive performance in 2010. Such outperformance over the next several years would be based on the expectation that LSE would be able to assist in unlocking the huge potential of the Mongolia capital markets - valuation rerating, boost in liquidity, improvement in corporate governance, stronger pipeline of IPOs and equity offerings as well as dual listings by international listed companies with operations in Mongolia. Major IPOs by the Mongolian SOEs and large private sector companies coupled with possible dual listings by Mongolia-focused international listed companies with their current US$33bn in market capitalization may catapult the Mongolia Stock Exchange into one of the largest frontier markets globally in the next 4-5 years.
In our view, this partnership should accelerate the process of MSE becoming a viable source of capital for Mongolian companies and an efficient channel for wealth distribution from mineral resources among Mongolian population. Over the longer term, LSE may assist MSE to become a regional hub for capital raising by resource companies, attracting listings from neighboring countries. We expect Mongolia to emerge firmly on the map of international investors and join the MSCI frontier market index, perhaps as early as this year. We reiterate our key recommendation for investors to gain exposure to the Mongolian local equities as Mongolia is still in the early stage of its 2010-2020 period of the world beating economic growth.
Source: Euroasia Capital
Tuesday, January 4, 2011
Friday, December 24, 2010
Dalanzadgad Business Centre to develop local supplier capability
The first of three Business Development Centres announced earlier this year is nearing completion and is expected to open in January 2011.
The Centre, opening in Southgobi’s regional capital of Dalanzadgad, will provide invaluable support and skills development to prospective local suppliers, including smaller start-up businesses.
Each Centre will work closely with the Oyu Tolgoi Procurement department to develop and strengthen local business potential and train businesses to understand international standards in procurement practices, for instance, responding to a tender.
Each Centre will consult with local businesses to identify work areas and skills they could focus on and develop in order to supply to Oyu Tolgoi in the future. It will also advise on internal training needs and access to finance such as gaining micro-credit loans.
Not only will the Business Development Centres play a large role in building local supply capability, but local suppliers have featured significantly in the development of the Dalanzadgad centre:
Izmone LLC: main construction contractor is sub-contracting to many smaller construction companies in
Dalanzadgad town.
Khachig Khairkan LLC: supplying and installing all windows for the centre.
Dayanbaigal LLC: renovation work to existing structures.
Govi Gurvan Saikhan LLC: construction work on the structure that will house the boiler.
In addition to these local suppliers the town electricity, water and waste companies will also do all of these works for the centre. Plans are underway for the construction of the next Business Development Centre in Khanbogd town in 2011.
Tuesday, November 2, 2010
Friday, October 22, 2010
Oyu Tolgoi holds Supplier Recognition Awards 2010 ceremony Best Mongolian suppliers awarded
Ulaanbaatar, Mongolia – Oyu Tolgoi LLC, Mongolian mining company, held its annual Supplier recognition awards for the second time today to promote Best supplier companies, contractors and individuals who are working together with the Company to build the world-scale Oyu Tolgoi copper-gold complex.
Since 2000, the number of Mongolian supplier companies and contractors has been increasing constantly and as of today there are 2420 companies and individuals registered in Oyu Tolgoi’s preferred supplier list. We expect this will grow during the construction phase and Oyu Tolgoi stays open to all interested parties who wish to cooperate with us in supplying international standard goods and services.
Keith Marshall, President and CEO of Oyu Tolgoi LLC, marked in his opening speech “From January 01, 2010 through September 30, 2010, Oyu Tolgoi signed 345 contracts with Mongolian companies valuing 272 billion tugriks. In addition, Mongolian companies filled 1182 purchase orders totaling 84.1 billion tugriks and accounting for 80% of the total purchase orders for the period.”
Many of the contracts include major site development and construction work, including:
* Steel structure and concrete work at the future copper-gold concentrator
* Construction of employee and contractor camps
* Installation of two new concrete-producing batch plants, including Mongolia’s largest with a daily capacity of 200 cubic meters
* Foundational work related to the construction of the Shaft #2 Headframe
* Installation of diesel power generation station
* Earthworks at the future open pit mine
* Light vehicle leasing and maintenance
* Operation and maintenance of site utilities
* Construction of 4,500-bed camp and facilities
* Employee secondment and personnel service
* Operation and maintenance of fuel distribution and storage facilities
* Charter flight services
* Site security services
* Engineering services
* Local transportation
* Information Technology and communications services
14 companies were awarded out of more than 130 permanent contractors and suppliers based on their safety, sustainability, employee training, quality and on-time delivery performances.
* Best developing supplier (Khanbogd) – Ulziit Munkh Ovoo LLC (Sewing of uniforms)
* Best developing supplier (Umnugobi) – Dayanbaigal LLC (Construction)
* Best small enterprise supplier – Nomgon gol LLC (Industrial products, electrical cables and consumables)
* Best medium enterprise supplier – Batseer LLC (Automotive and maintenance parts)
* Best regional supplier – Erdenet carpet factory (Carpet making)
* Best large enterprise supplier (Ulaanbaatar) – MCS Electronics LLC (Computer IT equipments)
* Best off site services supplier – Geomandal LLC (Camp and Ger producer)
* Strongest improvement in safety culture – Barilga corporation (Construction company and over 200,000 hours LTI free)
* Strongest commitment to employee training – Mongolian-Korean Technical College (Working with Wagner Asia Mongolia LLC on training)
* Best social contribution – Dary Solntsa and Tsogt Orshikhui LLC (Sewing of uniforms in ger districts)
* Most innovative supplier – RUC Mongolia LLC (Raise bore)
* Best delivery in full on time – Izmone LLC (Architect & Construction)
* Best consultancy – Agriteam LLC (Agricultural consultancy)
* Grand prix Best supplier 2010 – Ulziit Munkh Ovoo LLC (Sewing of uniforms)
ABOUT OYU TOLGOI LLC (www.ot.mn)
Oyu Tolgoi LLC is constructing and will operate the Oyu Tolgoi copper-gold project in southern Mongolia, which will be Mongolia’s largest copper and gold mine. Oyu Tolgoi is scheduled to begin commercial production in 2013. Oyu Tolgoi is a strategic partnership between the Government of Mongolia, which owns 34%, Ivanhoe Mines, which owns 66%, and Rio Tinto.
Oyu Tolgoi is committed to implementing best-practice environmental management, applying modern extraction and processing technology and ensuring the health and safety of its employees. The company works closely with local populations in contributing to the development of sustainable communities and preserving customs and cultural heritage.
Oyu Tolgoi currently employs 3503 Mongolian employees and has 2420 Mongolian suppliers on its preferred supplier list.
Tuesday, October 5, 2010
Wednesday, September 29, 2010
Introduction to the scale of the Mongolian opportunity /Robert Friedland/
Robert Friedland, Executive Chairman of Ivanhoe Mines will be presenting at the event this year on their ongoing work developing the Oyu Tolgoi Mine. As an introduction to the scale of the Mongolian opportunity, we would like to offer to you a chance to download the presentation made by Peter Meredith, Deputy Chairman of Ivanhoe Mines at the World Mining Investment Congress last month.
Tuesday, September 14, 2010
Thursday, September 2, 2010
Yitai Coal, Mongolian Mining Plan Hong Kong IPOs
Inner Mongolia Yitai Coal Co. and Mongolian Mining Corp. are planning initial public offerings in Hong Kong, becoming the latest coal miners to choose the southern Chinese city as the market of choice for raising capital.
Yitai Coal, based in China's Inner Mongolia, plans to raise $1 billion to $2 billion in an IPO ahead of a listing in Hong Kong in the fourth quarter. Mongolian Mining, a coking-coal producer formerly known as Energy Resources, is looking to raise around $700 million ahead of a Hong Kong listing Oct. 5, according to a term sheet. Mongolian Mining's IPO will be the first in Hong Kong by a company based in Mongolia.
The listings highlight China's ever-increasing energy needs. Coal mines in Mongolia and Inner Mongolia are keen to expand their production capacity by taking advantage of China's growing coal consumption. China was a net exporter of coal until last year, when rising domestic demand -- coupled with the start of a major overhaul of mines in the key production hub of Shanxi province in northern China -- prompted it to scour the Asia-Pacific region for available coal supply.
Yitai Coal has said it hopes the IPO will help fund its planned acquisition of 8.45 billion yuan ($1.24 billion) in coal assets from parent company Inner Mongolia Yitai Group. The number of new shares it plans to issue would amount to at least 15% of its enlarged share capital. The company's assets totaled 23.12 billion yuan at the end of March.
Mongolian Mining plans to list about 20% of its enlarged share capital before an overallotment option of around 15% of the deal size is exercised, according to the term sheet.
Landlocked Mongolia's largely untapped mineral and energy resources have been generating a lot of interest from investors. Mongolia's proximity to China, a major customer for its iron ore, copper, coal and other commodities, adds to its appeal.
Mongolian Mining's Ukhaa Khudag mine is roughly 152 miles 245 kilometers from the Chinese border. The company intended to build a private railway linking the mine directly to the Chinese border, but those designs have been put on hold amid plans by the Mongolian government to build a railway link to Sainshand and connect with the Trans-Mongolian Railway. In the absence of an extensive network of railways, many Mongolian mining sites currently truck resources to China.
Citigroup Inc. and J.P. Morgan Chase & Co. are bookrunners on the Mongolian Mining deal. UBS AG, BOC International Holdings Ltd., China International Capital Corp. and BNP Paribas SA are handling the Yitai Coal deal, the people said.
Mongolian Mining to raise $700m via Hong Kong IPO
HONG KONG (Reuters) -
Mongolian coking coal producer Mongolian Mining Corp (formerly Energy Resources) plans to raise about $700 million through an initial public offering on the Hong Kong stock exchange, according a term sheet obtained by Reuters.
Mongolian Mining, which aims to price the offer on Sept. 24, will be the first company listed in Hong Kong to be fully based and operated in Mongolia. The listing is scheduled for Oct. 5.
Citigroup (C.N) and JP Morgan (JPM.N) were joint global coordinators for the offer, the term sheet said.
Global investors are have shown increased interest in Mongolia since it sealed a deal last year with Ivanhoe Mines Ltd (IVN.TO) and Rio Tinto Ltd (RIO.AX)(RIO.L) to develop the $3 billion Oyu Tolgoi mine, one of the world's biggest untapped copper and gold deposits.
Mongolia's domestic companies are seeking foreign capital to help them expand. The Mongolian government is trying to connect local companies and its stock market with the rest of Asia, hoping to turn domestic franchises into regional ones.
Mongolian Mining said it would use the proceeds to buy more mining assets and to build infrastructure. (Reporting by Denny Thomas; Editing by Chris Lewis)
Sunday, August 8, 2010
Energy Statistics of Non-OECD Countries 2010
This publication offers the same in-depth statistical coverage as the homonymous publication covering OECD countries. It includes data in original units for more than 100 individual countries and nine main regions. The consistency of OECD and non-OECD countries’ detailed statistics provides an accurate picture of the global energy situation for 2007 and 2008.
