Rio Tinto resumes copper exports from massive Mongolian mine www.bloomberg.com

Rio Tinto Group has resumed exports of copper concentrate from its vast Oyu Tolgoi copper mine in Mongolia following a short protest.

The protesters began a blockade of a key road on Wednesday morning local time, preventing trucks from hauling mined copper to the border with China. The reason for the action wasn’t immediately clear, but the mine is controversial in Mongolia, where the government has demanded a bigger share of revenue from operations.

“Concentrate export shipments have resumed normal operations,” the mining giant said through its local subsidiary in a statement on social media.

Oyu Tolgoi is one of the world’s biggest copper mines and is being expanded as part of Rio’s strategy to expand sales of the metal underpinning electrification, the global energy transition and increasing demand from data centers.

Rio operates the mine with 66% ownership. The Mongolian government holds the rest.

© 2026 Bloomberg

By Paul-Alain Hunt, Bloomberg · 18 Jun 2026, 09:00

ACCA and AMIRA sign MoU to advance accountancy in Mongolia www.theaccountant-online.com

The Association of Chartered Certified Accountants (ACCA) has signed a memorandum of understanding (MoU) with the Association of Mongolian Internationally Recognised Accountants (AMIRA) to develop the accountancy profession in Mongolia.

Formed in 2023, AMIRA is a professional body for accounting and finance practitioners in Mongolia.

The newly formed body aims to support the growth of the finance sector and provide a platform for globally recognised accountants in the country.

The MoU sets out a framework for cooperation between ACCA and AMIRA on strengthening the profession, expanding professional development opportunities and deepening engagement with internationally qualified finance professionals in Mongolia.

AMIRA founder and CEO Naranzul Ganzorig said: “At this early stage in the development of our professional body we are delighted to sign a partnership with ACCA as a leading global body.

“We are looking forward to working with ACCA to provide our members professional development and learning opportunities as well as promoting international professional standards in the country.”

The agreement also covers collaboration on talent development and career pathways, member and community engagement, and joint activities in research, thought leadership and knowledge sharing.

ACCA Central Asia, Armenia and Mongolia head Zhanna Iskenova said: “We are delighted to sign this MoU with AMIRA and wish it all the best as it seeks to further the work of financial professionals in Mongolia.

“We look forward to working with AMIRA, strengthening ACCA’s member and stakeholder network in Mongolia.

“This partnership will provide a platform to engage a group of internationally qualified professionals to support ACCA’s advocacy, sustainability and talent development agendas.”

The ACCA recently signed an MoU with the UN Institute for Training and Research to expand capacity-building programmes worldwide.

Mongolia, European Investment Bank Deepen Partnership on Energy Transition www.montsame.mn

Mongolia and the European Investment Bank (EIB) have agreed to deepen their partnership by making greater use of the bank’s financing, technical expertise, and international experience to support Mongolia’s energy transition, regional infrastructure development, and capital market growth.

The matter was discussed during a meeting between Deputy Finance Minister Khulan Bat-Erdene and EIB Vice-President Gelsomina Vigliotti during the deputy minister’s visit to the Grand Duchy of Luxembourg. The two sides exchanged views on the effectiveness of ongoing and future projects, financing arrangements, and broader areas of cooperation.

Since beginning operations in Mongolia in 2014, the European Investment Bank has been an important partner in promoting sustainable development, climate change adaptation, and regional infrastructure development. According to the Ministry of Finance, cooperation reached a new level in 2025 when the Government of Mongolia, the European Union, and the EIB signed a memorandum of understanding providing for up to EUR 1 billion in financing to support Mongolia’s clean energy transition.

In connection with Mongolia’s hosting of the 17th session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP17) in Ulaanbaatar, the parties also discussed cooperation on combating desertification and land degradation, protecting and restoring forests, and promoting sustainable land management. The EIB expressed its intention to participate in COP17 and support Mongolia’s goals related to climate action, sustainable development, and green finance.

The discussions also covered the possibility of utilizing EIB loans and grant financing under the Green Regional Development Investment Program for Aimags and Soums to accelerate infrastructure projects, including local roads, water supply systems, and wastewater networks.

In addition, the two sides addressed the development of Mongolia’s green capital market, including green bonds, sustainable finance instruments, attracting long-term sources of financing, and creating a more balanced financial structure that is less dependent on the banking sector. They also discussed opportunities to attract international institutional investors to Mongolia’s green bond market through the Global Green Bond Initiative, in which the EIB participates as an investor.

The meeting further focused on Mongolia’s energy transition, investments in renewable energy, expansion of transmission networks, increased private-sector participation, and financing mechanisms to support the country’s gradual shift from a coal-based energy system to a green energy system.

9th Mongolia–U.S. Land Forces Talks Open in Ulaanbaatar www.montsame.mn

The ninth regular consultative meeting between the Land Forces Command of the Mongolian Armed Forces and the United States Army Pacific (USARPAC) opened in Ulaanbaatar.

The meeting, which is held alternately in the two countries, is being hosted by Mongolia this year.

Attending the opening ceremony were Major General Giles J.S. Cornelia, Deputy Commanding General- Strategy and Plans for the U.S. Army Pacific, and Brigadier General Buyandelger Tseveenkhuu, Chief of Staff of the Mongolian Armed Forces Land Forces. The two officials highlighted the importance of bilateral defense relations and military cooperation in their remarks.

In addition to representatives of the two countries' land forces, the consultations are being attended by officials from the U.S. Embassy in Mongolia, led by Defense Attaché Lieutenant Colonel J. Malloy.

The meeting, which plays an important role in strengthening trust and cooperation between the defense sectors of Mongolia and the United States, will continue from June 17 to 19.

The Economic Impact of European Tourists in Mongolia: Prioritizing Quality Over Quantity www.gogo.mn

The former Prime Minister L.Oyun-Erdene set a strategic benchmark to welcome 1 million tourists by 2025. In line with this vision, during her tenure in 2025, former Minister of Tourism Ch. Nomin announced a mid-term strategy to increase arrivals to 2 million by 2030.

To support these ambitious goals, the government launched the "Welcome to Mongolia" marketing campaign in 2023, allocating approximately 15.5 billion MNT in the national budget. These funds were primarily directed toward international exhibitions, global advertising, and supporting the liberalization of the aviation sector.

In 2024, the initiative evolved into the "Go Mongolia" campaign, introducing a new national brand to the global market. An additional 18.7 billion MNT was budgeted for high-quality content production, international broadcasting, the hosting of global influencers, and participation in premier international trade expos.

Over the past three years, Mongolia has invested a total of 34–35 billion MNT in tourism marketing—the largest investment of its kind in the nation's history. While official figures show that arrivals reached approximately 790,000 in 2024 and 854,000 in 2025, falling slightly short of the 1 million target, the economic return on investment (ROI) remains impressive. The ratio of marketing expenditure to sector revenue stands at approximately 1:100, indicating that the investment has been highly effective in generating national income.

Despite this growth, a fundamental question remains for policymakers and industry leaders: "Is mass tourism the right path for Mongolia, or should we focus on attracting a smaller number of high-yield visitors?"

Experts remain divided on this issue. One group advocates for mass tourism from neighboring markets to accelerate economic turnover, while another emphasizes sustainable, high-value, niche tourism that preserves the country's natural heritage.

At the 15th Asian Tourism Forum held recently in Ulaanbaatar, Dr. B. Yerbakhyt, a lecturer at Otgontenger University, provided evidence-based insights through his study, "The Economic Impact of European Tourists Visiting Mongolia." The research team categorized 51 European nations by region and compared their impact with Mongolia’s primary source markets: Russia, China, Japan, and South Korea, utilizing comprehensive data spanning from 1999 to 2023.

Insights into the European Market

Growth Trends: European arrivals peaked at 58,000 in 2019 before the global pandemic disrupted the industry.
Western Europe Dominates: Western Europeans consistently represent 52–55% of all European tourists, reaching a historic high of 59% in 2006.
Northern Europe in Decline: The share of Northern European tourists has dropped from 29% in 2000 to 14.5% in the post-pandemic era.
Eastern European Surge: Arrivals from Eastern Europe rose to 24–28% post-pandemic. Researchers attribute this growth largely to the war-driven influx from Belarus and shifting regional dynamics.
Sector Revenue: Historical Growth and Market Structure

Dr. B. Yerbakhyt’s study meticulously analyzed total sector revenue by market over the past 25 years. While revenue peaked in 2019, the 2023 season marked the most significant post-pandemic recovery to date.

Historically, China has contributed the largest share of total revenue. However, in 2023, a surge in revenue from the Russian and South Korean markets significantly boosted the overall national figures.
Although European arrivals are lower in volume compared to Asian markets, revenue from Western and Northern Europe has proven to be the most resilient and stable stream over the last 25 years, regardless of economic crises or the pandemic.
Tourism Balance: Analyzing Economic Value

The study calculated the tourism balance by comparing inbound tourist numbers with outbound travel by Mongolians to those same regions.

Key Findings:

The balance with China remains in a significant deficit. While Chinese citizens represent 18.3% of arrivals, 59% of all outbound Mongolian travelers head to China, leading to high "economic leakage."
The South Korean market was in deficit before 2005 but has since become a profitable inbound source.
The Spending Gap: Debunking the Japan Myth

The analysis of average long-term spending per tourist revealed that the common perception of Japanese tourists as "high-yield" is a misconception; they spend an average of $793, which is lower than the average Russian tourist ($914). Average Spending by Region:

Northern Europe: $2,057
Western Europe: $1,920
Southern Europe: $1,727
Eastern Europe: $1,700
China: $1,022
South Korea: $697.
Researchers found that every $1 spent by a European tourist generates an additional $0.11 in indirect impact and $0.49 in induced impact for the economy. This multiplier effect makes tourism a vital pillar for agriculture, herders, and SMEs. However, the study critiques that these benefits are not yet equitably reaching nomadic herders.

Conclusion and Strategic Outlook

The research concludes that Western and Northern Europe are Mongolia’s most economically efficient target markets. Specifically, the six European countries that send more than 1,000 tourists annually should be prioritized as high-value strategic targets.

While the Chinese market contributed $2.8 billion over 25 years, its negative tourism balance and low growth potential suggest it should not be the primary focus of investment. According to BCG Matrix analysis, while the South Korean market currently holds a high-growth "Star" position, it is expected to eventually slow down and mature into a "Cash Cow" similar to the Chinese market.

Ultimately, the study serves as a crucial reminder for Mongolia: to prioritize the quality and high spending of markets like Europe over raw arrival numbers, while ensuring that the resulting economic prosperity is inclusive of local communities and herders.

Sources:

B. Yerbakhyt, B.A. Kapsalyamov (2024): "Economic Impact of European Tourists Visiting Mongolia." L.N. Gumilyov Eurasian National University, Astana, Kazakhstan.
Government of Mongolia Resolution No. 264 (2022): Declaring 2023–2025 as the "Visit Mongolia Years."
Vision 2050: Mongolia’s Long-term Development Policy Document. Government Action Plan 2024–2028: Strategy to make tourism a priority sector and reach 2 million tourists.
National Statistics Office of Mongolia (NSO): www.1212.mn – Passenger Border Statistics and Tourism Sample Surveys (2002–2024).
Bank of Mongolia: Balance of Payments Reports (Tourism service export and import data).

EU Ambassador Discusses Cultural and Tourism Cooperation with Mongolia's Minister of Culture www.eeas.europa.eu

From opera theatre to winter landscapes, the EU and Mongolia are finding new ways to connect through culture, tourism, and heritage.

ULAANBAATAR — Ambassador of the European Union to Mongolia H.E. Ina Marciulionyte met with Minister of Culture, Sports, Tourism and Youth Mr. Aldarjavkhlan Jukov on 16 June to discuss opportunities for deeper cooperation between the European Union and Mongolia in the fields of culture and tourism.

During the meeting, the two sides discussed the ongoing modernisation of the Mongolian State Academic Theatre of Opera and Ballet, one of Mongolia's most iconic cultural institutions. They also exchanged views on developing Mongolia's winter tourism potential, drawing on models from Scandinavian countries that have successfully built distinctive tourism identities around their cold seasons. In addition, the meeting covered approaches to engaging local communities and province governors in cultural and tourism development initiatives.

As a former Deputy Minister of Culture of Lithuania and member of the UNESCO Executive Board, Ambassador Marciulionyte brought extensive experience in cultural policy development, cultural heritage safeguarding, and international cultural diplomacy to the discussions.

The European Union remains committed to supporting Mongolia's cultural sector and to fostering people-to-people ties between Europe and Mongolia.

Mongolia launches Partnership for Science and Research www.who.int

The Ministry of Health and the World Health Organization (WHO) today launched the Mongolia Partnership for Science and Research. This national platform aims at fostering collaboration among government institutions, researchers, academic organizations, development partners and technical experts to advance evidence-informed health policies and programmes and strengthen the use of research in decision making.

The launch brought together national and international experts to discuss the role of science, research and innovation in addressing Mongolia’s evolving health challenges and in shaping a healthier, safer and more resilient future. The partnership is convened by the Ministry of Health and WHO, with contributions from United Nations agencies, including UNDP, IOM and academic institutions, reflecting a broad, multi-sectoral collaboration to advance science and research for health.

Over the past decades, Mongolia has made significant gains in population health through investments in health services, public health programmes and scientific advancement. As the country responds to emerging health threats, demographic changes, environmental pressures and the growing burden of noncommunicable and communicable diseases, strong research systems and the effective use of evidence will be increasingly important for informed decision-making and sustainable health development and system resilience.

Focusing on building stronger connections between research, policy and practice by promoting collaboration, the Mongolia Partnership for Science and Research will support research and innovation across areas including health security, communicable and noncommunicable diseases, One Health, environmental health, climate change and the social determinants of health.

As part of the launch, representatives of the Ministry of Health, WHO, United Nations agencies, academic institutions and development partners signed an Aide Memoire formalizing their commitment to work together under the Partnership.

“Evidence-informed decision-making is essential for a resilient and future-ready health system. This Partnership will strengthen the bridge between science, policy and practice in Mongolia,” said Dr Erdenebayar Namjil, State Secretary of the Ministry of Health, emphasizing the importance of science and evidence in guiding health sector reforms and improving health outcomes for all people in Mongolia.

“Across the Western Pacific Region, WHO Member States, including Mongolia, are facing increasingly complex health challenges, from demographic shifts to climate-related risks and the growing burden of noncommunicable diseases. Strengthening national research systems and ensuring that the most robust evidence is used in decision-making is critical to building resilient health systems for the future,” noted Dr Saia Ma’u Piukala, WHO Regional Director for the Western Pacific. 

“The Mongolia Partnership for Science and Research reflects a shared commitment to strengthen the link between science, policy and action. When research is coordinated, relevant and effectively used, it becomes a powerful driver of better health outcomes and stronger health systems.”

WHO Representative to Mongolia Dr Socorro Escalante noted that the Partnership provides an opportunity to strengthen collaboration across institutions and to ensure that research findings are translated into practical action more consistently and at scale.

“Science is one of our most powerful tools for improving health. By bringing together researchers, policy-makers, practitioners and partners, this Partnership can help ensure that evidence informs decisions and that knowledge is translated into better health outcomes for people and communities across Mongolia,” said Dr Escalante, reinforcing the importance of sustained collaboration beyond individual projects.

The launch of the Mongolia Partnership for Science and Research marks an important step towards strengthening the country's research system and promoting a culture of collaboration, innovation and evidence-informed decision-making. Through sustained partnership and shared commitment, the initiative seeks to contribute to better health, greater resilience and improved well-being for present and future generations.

Mongolia and Africa: Time to Reignite a Forgotten Partnership www.thediplomat.com

During the Cold War, Mongolia forged an unlikely but surprisingly warm set of relationships with African countries. Driven by communist solidarity rather than geography or commerce, Ulaanbaatar hosted African liberation leaders, sent veterinary experts to Ethiopia and Mozambique, and interacted with both Somalia and Ethiopia during the Ogaden War. Ulaanbaatar opened its first African embassy in Guinea before Mongolia had even joined the United Nations. The continent, in turn, helped secure Mongolia’s seat at the U.N. It was, by any measure, a more substantial relationship than the physical distance suggested.
Then the Cold War ended, and so did most of that engagement. For three decades, Mongolia and Africa occupied separate lanes. That is now worth revisiting, because the strategic case for re-engagement is considerably stronger today than it was the first time around.
Africa’s growing weight in the world is difficult to overstate. The continent’s population is projected to approach 2.5 billion by 2050, accounting for over one-quarter of humanity. Africa is supplying most of the net growth in the global working-age population at a time when Europe, China, and parts of Asia face demographic stagnation. Sub-Saharan Africa is forecast to sustain GDP growth rates of 4-5 percent annually through mid-century, faster than any other region, with consumer and business spending projected to reach $16 trillion by 2050. 
Africa also holds approximately 30 percent of the world’s critical mineral reserves, including 55 percent of global cobalt, 47 percent of manganese, and 80 percent of platinum group metals. As demand for these materials surges alongside the global energy transition, the continent’s strategic value is rising rapidly. 
Countries around the world are adjusting their diplomatic strategies to account for Africa’s importance. Mongolia should be among them.
The most immediate case for re-engagement is minerals. Mongolia and many African countries occupy structurally similar positions: resource-intensive economies dependent on a narrow range of commodity exports, with limited processing capacity and constrained access to Western markets. Mongolia’s giant Oyu Tolgoi copper mine exports almost entirely to China. African cobalt, copper, and manganese flow mostly to China as well. Both sides face the same vulnerability: dependence on Chinese demand and Chinese-controlled processing leaves them exposed to price pressure and political leverage.
One solution worth examining seriously is third-party commodity swap arrangements. Under such a mechanism, a Mongolian copper producer could fulfil a delivery obligation to a Chinese buyer by arranging for an African producer, closer to Chinese port infrastructure, to make the physical delivery. Mongolia could then ship its output to a Western buyer, completing the swap without either party incurring the full cost of redirecting supply chains. 
This instrument is already commonly used in oil markets and is attracting interest in critical minerals precisely because long-haul logistics make pure bilateral trades inefficient. For landlocked Mongolia, any arrangement that reduces effective transport cost matters. For African producers seeking Western market access, a swap counterpart could be equally valuable. Mining giant Rio Tinto, which operates both Oyu Tolgoi in Mongolia and the Simandou iron ore project in Guinea, already provides an institutional thread connecting the two continents.
Mongolia’s second point of leverage is less obvious but increasingly significant: it is already present in Africa, in uniform. Since 2002, Mongolian peacekeepers have served in Sierra Leone, Liberia, Sudan, South Sudan, the Democratic Republic of the Congo, and Western Sahara. The deployment of a battalion to South Sudan in 2011 was a milestone. Fifteen years later, Mongolian forces are still protecting civilians and securing humanitarian corridors in one of the United Nations’ most demanding missions.
Mongolia’s peacekeeping record shows that Ulaanbaatar can function as a credible neutral party in conflicts where major powers are distrusted or perceived as self-interested. Mongolia has no colonial history in Africa, no rival intelligence operations, and no extractive agenda. In an era of growing skepticism in Africa (and around the world) toward major power influence and wariness of their motives, that neutrality is a genuine diplomatic asset. The next step is to leverage it more deliberately, not just through troop contributions but through a clearer articulation of Mongolia as a constructive, impartial participant in African peace processes.
Finally, Mongolia and most African countries are members of the Global South, a category with renewed political salience as the world fragments along great power lines. Both face the same dilemma: how to preserve economic and diplomatic autonomy as the United States, China, the European Union, and Russia compete for alignment.
Technology is reducing some of the friction that geography once imposed. Sixteen African countries share Mongolia’s landlocked status, giving them common cause in transit rights, logistics reform, and trade facilitation under frameworks like the Vienna Program of Action. Beyond infrastructure diplomacy, there are alignment opportunities across critical minerals governance, climate finance, and reform of international financial institutions. On all of these, Mongolia and many African partners have compatible interests that neither is currently leveraging through bilateral coordination.
Mongolia and African countries have demonstrated once already that it is possible to build meaningful relations across vast distances and cultural differences. The first time, ideology did the work, but those ties did not survive the end of the Cold War. A second phase, if there is to be one, will need to be built on national interests. The good news is that the interests are there, and they are growing stronger by the day.

By Sodbileg Chuluunbaatar

Protesters block copper exports to China from Rio Tinto mine in Mongolia www.abcnews.com

Protesters blocked copper exports from a huge Rio Tinto mine in Mongolia on Wednesday, partially cutting off the supply of a mineral vital to China’s renewable energy ambitions.

The protest group, called the Radical Reform Movement, is pushing for a greater share of mining revenue for Mongolians, a long-running demand in a nation where poverty persists despite the exploitation of its mineral riches. Copper is needed for electric vehicles and solar and wind power installations, all industries where China is a world leader.

It wasn't clear if the protest was a one-day affair aimed at drawing attention to the issue or the start of a prolonged standoff that could have a deeper economic impact in both countries.

Videos posted on Facebook by the Radical Reform Movement showed a small group of protesters milling around a barrier set up on a two-lane road running through a barren landscape on a bright sunny day. A white banner that said “Stop Rio Tinto” in red letters was draped on a large tree branch across the road in front of the tire wall.

The Oyu Tolgoi mine is a massive undertaking to tap a vast reserve of copper deep in the Gobi Desert. About 80 kilometers (50 miles) north of the border with China, it also has large gold deposits and is expected to be the fourth largest copper mine in the world when fully operational, Rio Tinto has said. The British-Australian mining giant owns 66% of the mine, with the Mongolian government holding the other 34%.

The jointly owned mining company said shipments of copper concentrate were halted after the road was blocked on Wednesday morning. It said the Oyu Tolgoi mine contributes about 9% of Mongolia's tax revenues and warned that a weeklong blockage could cost the government 35 billion Mongolian Tugrik ($13.3 million).

At a Cabinet meeting, Mongolian Prime Minister Uchral Nyam-Osor told the justice and internal affairs minister to enforce the law and hold accountable those who unlawfully obstruct or interfere with business operations being conducted in accordance with the law and regulations, according to the a government Facebook page.

The Radical Reform Movement has called for the expulsion of foreign investors. While others wouldn't go that far, there are voices in the government calling for the renegotiation of the agreement with Rio Tinto to give the country a larger share of the benefits.

Government Restructures Erdenes Mongol, Dissolves 14 Companies www.montsame.mn

The Government has approved a resolution to restructure and dissolve legal entities under the Erdenes Mongol group to optimize its organizational structure, reduce costs, and improve efficiency.

Under the resolution, Chinggis Khaan National Wealth Fund and Erdenes Methane LLC have been merged into Erdenes Mongol LLC.

The Government also approved the merger of Khutul Energy Dulaan LLC into Cement Shokhoi LLC, and Shivee Service LLC into Shivee Ovoo JSC. In addition, Copper Processing Complex LLC, Darkhan Steel LLC, and Baganuur-Ilch LLC have been dissolved.

A decision was also made to liquidate several joint-investment companies operating under the Erdenes Mongol group, including Erdenet Oil LLC, Mongolian Mineral Exchange LLC, Erdenes Shivee Energy LLC, Shim Technology LLC, Central Asian Uranium LLC, Gashuunsukhait Railway LLC, and Zuukherd LLC.

Prime Minister Uchral Nyam-Osor stated that the reform of state-owned enterprises and the dissolution of 14 companies have eliminated 260 overlapping positions, reduced administrative costs by 10% and rental expenses by 30%, generating savings of MNT 67.3 billion. He emphasized that the restructuring creates the conditions necessary for Erdenes Mongol to fulfill the functions assigned under the National Wealth Fund Law.

The resolution also renames Erdenes Mongol LLC as Chinggis Khaan Wealth Fund Group LLC, while the state-owned enterprise Erdenes Critical Minerals is renamed Mongolrostsvetmet.

Officials said the restructuring will improve coordination within the group, eliminate overlapping functions, optimize the use of financial and human resources, strengthen governance, oversight, accountability, and transparency in state-owned enterprises, and increase revenues channeled into the National Wealth Fund.