S3Investment Company has said that its wholly
owned Redwood Capital subsidiary has opened an office in Ulaanbaatar to allow
the company to work more closely with clients operating in the Mongolia market
as well as explore additional emerging opportunities the country.

“Redwood Capital has
identified

Mongolia’s debts incurred in the socialist days are
settled but the country continues to borrow. The loans it took from The Asian
Development Bank, The International Monetary Fund (IMF) and Japan between 1991
and 2009 now total USD2.6 billion. According to The Debt

The United Nations Environment Program (UNEP), Russia,
and several governments in Central Asia have concluded an agreement on
conservation measures for the migratory Saiga antelopes, whose population have
been in decline during the past two decades. Representatives from Kazakhstan,
Mongolia, Russia, Turkmenistan, Uzbekistan and

Stewart Group, the international
inspection, analysis and assay group has expanded its operations in Mongolia. A
new fire assay laboratory, with state-of-the-art equipment, has been added to
the Stewart Mongolia LLC facility in Ulaanbaatar, which can now provide a
significantly broader range of services

Simon Morris, the new Khan Bank Chief Executive Officer, recently called on First Deputy
Prime Minister N.Altankhuyag to discuss topical issues. Altankhuyag said the
banking sector has to be restructured in anticipation of the promised mining
boom and this requires united action and

The head of the President’s Office, D.Battulga yesterday called
Col.Kh.Enkhjargal and Col. L.Batzorig, Chief of 
Traffic Police Board and  State
Security respectively, to tell them of a suggestion from President Ts.Elbegdorj
on management of traffic when the President or the Prime Minister or the
Parliament

Rio Tinto  would acquire another 5.3 percent of Ivanhoe
Mines as part of its investment in Oyu Tolgoi. The deal, worth some USD400
million takes Rio Tinto”s stake in Ivanhoe Mines to 34.9 percent and was based
on the conversion of a loan

The South Korean Government has sent a
team of experts to assess the damage to the environment from mining in Mongolia
at the request of the Government. It will also establish an information
database. The team has been very impressed
by its visit to

Mitsui & Co. is joining
with China’s Shenhua Group Corp. to bid for development rights to the Tavan
Tolgoi coal field, Nikkei English News reports. Mitsui has signed an agreement
with Shenhua for a tie-up in mine development and coal trading, Nikkei
reported.

Petro Matad has announced that the Davsan Tolgoi-2
exploration well was spudded late in August. The well is being drilled
vertically to an estimated target depth of approximately 1,300 meters and
operations are expected to take approximately 25 days. DT-2 is the second
exploration