Russian uranium miner Atomredmetzoloto JSC (ARMZ) has offered to buy Toronto-based Khan Resources, which owns a controlling stake in a uranium project in Mongolia.

The Ambassador Extraordinary and Plenipotentiary of Mongolia to Canada T.Zalaa-Uul presented November 23 his diplomatic credentials to Michaelle Jean, Governor General and Commander-in-Chief of the Armed Forces of Canada. 

      

A press conference was called Saturday by the Ministry of Finance and the Bank of Mongolia on an opening of a new state bank. 

 

Mongol Bank had made the decision to organize Zoos bank as nationalized bank. According to this matter, working group lead by T.Ochirkhuu, Deputy Finance Minister of Mongol bank is working at the Zoos bank. In the second quarter of this year, Zoos bank had registered profits near 1 billion MNT but in the third quarter they had loss of 38 billion MNT and 52 billion MNT of unsecure loans. Ts.Myanganbayar of “Mongol Gazar” is to be blamed for the bankruptcy of Zoos says officials as he had loaned around 60 billion MNT which is not yet to be paid back. It was hard to detect all the loans says the Mongol Bank officials. Currently all the branches of Zoos banks are closed.

Budget of 2010 was under discussion. Draft budget law was criticized by many MPs. MP and Minister for Finance S.Bayartsogt has explanation.