Rio Tinto and Government of Mongolia agree to adjust Oyu Tolgoi shareholder loan interest rate www.marketscreener.com

Rio Tinto and the Government of Mongolia have reached an agreement to adjust the shareholder loan interest rate for the Oyu Tolgoi project1, in line with the requirement under the Shareholders Agreement to periodically review the appropriateness of the rate.

Rio Tinto and the Government of Mongolia have also agreed to work together to resolve matters relating to the Entrée mine lease areas in a timely manner and bring forward distributions to shareholders.

Rio Tinto Copper Chief Executive Katie Jackson said: "This agreement, along with the agreement in principle on management fees reached in May, demonstrates Rio Tinto's ongoing commitment to the long-term success of Oyu Tolgoi and our partnership with the Government of Mongolia. The adjusted rate reflects a forward-looking assessment of Oyu Tolgoi's risk profile as the project matures to a lower risk, steady-state operation that will achieve its full potential for the benefit of all parties."

The ramp-up of production at Oyu Tolgoi remains on track to deliver an average of around 500ktpa2 of copper from 2028 to 2036. As the largest-ever foreign direct investment made in Mongolia, Oyu Tolgoi employs around 17,000 people, 97.8% of which are Mongolian, and has returned $6.1 billion in taxes, fees, and other payments since 2010.

1 Oyu Tolgoi LLC is jointly owned by Rio Tinto, which holds a 66% interest, and the Government of Mongolia, through Erdenes Oyu Tolgoi, which owns 34%.

2 100% basis and stated as recoverable metal.

Central Wastewater Treatment Plant Supports City Expansion, Cuts Pollution www.montsame.mn

President Khurelsukh Ukhnaa expressed his gratitude to everyone involved in the construction of the new Central Wastewater Treatment Plant (WWTP), which aims to provide a healthy living environment for Ulaanbaatar’s residents and ensure ecological balance.

The President thanked the project leaders, relevant organizations, enterprises, engineers, and technical staff from both countries who participated in this massive development project. He noted that the facility is designed to meet the growing needs of the city for the next 20 to 30 years-making it a milestone project of a scale unseen in Ulaanbaatar for decades.

He recalled his time serving as Prime Minister, during which he made the decision to build the new WWTP, laid its foundation stone, and initiated the construction.

President Khurelsukh expressed his satisfaction that the WWTP, which consolidates the “Comprehensive Strategic Partnership” between Mongolia and China and serves as a symbol of friendship and cooperation between their peoples, is establishing the core conditions required for the city’s expansion and the reduction of environmental pollution.

The new plant, consisting of 55 buildings and facilities, can treat 250,000 cubic meters of wastewater per day, which is twice the capacity of the current facility. The facility will fully process its sewage sludge to generate electricity, covering 35% of its own internal energy needs. It means an annual energy savings of MNT 7-8 billion.

A complementary Water Recycling Plant, which integrates technologically with the main treatment facility, was also recently commissioned through a grant from the Millennium Challenge Corporation (MCC).

The feasibility study of the plant was developed by the French company Artelia Ville & Transport under a contract commissioned by the Governor's Office of the Capital City. General contractors were a joint consortium of China Tiesiju Civil Engineering Group and Beijing Construction Engineering Group.

The project involved 400 to 650 personnel from 17 domestic subcontracting companies, alongside more than 60 Chinese engineers and technical specialists.

"Despite facing major difficulties and obstacles such as the global pandemic, we are thrilled that the Central Wastewater Treatment Plant has been successfully commissioned thanks to the decisive actions taken by the government at that time. We have been training around 70 employees in China since 2023 to operate this facility," stated Turkhuu Ts., Head of the Ulaanbaatar Water Supply and Sewerage Authority.

The old Central Wastewater Treatment Plant, commissioned back in 1964, had a design capacity to receive 160,000-170,000 cubic meters of water per day.

Although it underwent three expansions and upgrades over the years, the city's rapid population growth caused pollution levels to spike by 3 to 5 times above acceptable limits. This severely degraded its treatment capacity and led to frequent technical and technological breakdowns.

Mongolia Secures USD 545 Million in Investment Agreements and MoUs www.montsame.mn

More than 120 foreign investors, along with representatives of the Bank of Mongolia and Mongolia's private sector, participated in the expanded "Unlock Mongolian Economy" meeting of the Economic Council under the Prime Minister of Mongolia.

Key outcomes of the meeting include:

Six investment agreements and memorandums of understanding worth a combined USD 545 million were signed.
Phillip Capital, a Singapore-based investment management firm overseeing USD 65 billion in assets, announced plans to open an office in Mongolia.
Hungary's OTP Bank formally submitted its application to establish a branch in Mongolia to the Prime Minister.
Addressing the meeting, the Prime Minister of Mongolia said the discussions held during the Summer Davos Meeting in Dalian on policy stability, economic diversification, and Mongolia's development opportunities had now been translated into more detailed talks. He briefed investors on the country's efforts to improve its legal and investment framework, including the government's "Liberate" reform agenda, emphasizing that the meeting had already produced tangible results in attracting investment to Mongolia.

During the discussion, László Wolf, Member of the Board of Directors of OTP Bank, said that if the bank enters the Mongolian market, it would be prepared to finance large-scale projects and is also interested in offering mortgage products. He noted that Mongolia's current legal framework is not yet particularly favorable for foreign banks but welcomed the Prime Minister's commitment to legal reforms and market liberalization. "The government's reforms and planned liberalization will create greater opportunities for us to invest in Mongolia. Investors highly appreciate the reforms that have been implemented and those currently being planned."

Meanwhile, Luís Santos, co-founder of European investment management company Alpac Capital, which specializes in technology and renewable energy investments, said Mongolia has established the necessary conditions to attract Western investors.

"Mongolia has moved beyond being a destination primarily for tourists and is now becoming an attractive destination for international investors. We see the country strengthening investor confidence, creating a stable business environment, and consistently reinforcing the foundations of good governance. It gives us confidence to return to Mongolia and pursue long-term cooperation," Santos said.

Country ranked among Asia’s most peaceful nations www.ubpost.mn

Mongolia has been recognized as one of Asia’s most peaceful countries, climbing four places in the latest Global Peace Index (GPI) and strengthening its position among the region’s safest and most stable nations. The 2026 Global Peace Index was released by the Sydney-based Institute for Economics and Peace (IEP), which has published the influential global assessment annually for the past two decades. According to this year’s report, Mongolia ranked 34th out of 163 countries and territories worldwide, marking a notable improvement from the previous year and reflecting the country’s relatively stable security environment.

Within the Asia-Pacific region, Mongolia secured seventh place, ranking behind New Zealand, Singapore, Japan, Malaysia, Australia, and Timor-Leste. The result places the country among the region’s leading examples of peace and stability at a time when many parts of the world continue to face growing uncertainty and conflict.

At the global level, Iceland maintained its status as the world’s most peaceful country for the 19th consecutive year. New Zealand, Switzerland, Slovenia, and Ireland rounded out the top five positions. In contrast, Russia remained at the bottom of the rankings, while China’s position slipped slightly compared with the previous assessment.

The report also drew attention to rising political tensions in the United States, noting that political instability and social polarization have reached their highest levels in nearly 60 years. Researchers warned that increasing geopolitical rivalries, armed conflicts, and domestic unrest in various parts of the world continue to pose significant challenges to international peace and security.

According to the study, the global average level of peace has declined for the 12th consecutive year. The report attributes this trend to the persistence of armed conflicts, political crises, and the growing militarization of many countries. These developments have weakened both regional and international stability, creating an increasingly complex global security landscape.

The Global Peace Index is one of the world’s most widely cited measures of peace. It evaluates countries using 23 qualitative and quantitative indicators that assess levels of peace, safety, and security. These indicators are grouped into three key categories: societal safety and security, ongoing domestic and international conflict, and the extent of militarization.

Among the factors examined are crime rates, prison populations, perceptions of criminality, military expenditure, the size and structure of armed forces, and the impact of both internal and external conflicts. By analyzing these indicators, researchers are able to compare the overall peacefulness of nations across different regions.

According to the report, Mongolia achieved relatively stable scores across all three major categories. The country’s consistent performance in maintaining social stability, public safety, and a low level of conflict contributed significantly to its improved ranking. These factors helped secure Mongolia’s place among Asia’s most peaceful nations and underscore its reputation as a country that continues to foster stability despite an increasingly turbulent global environment.

Multinational military gathering in Mongolia trains as UN peacekeepers www.stripes.com

An annual peacekeeping drill that brings American and other multinational troops close to China and Russia wraps up Friday near Mongolia’s capital. Khaan Quest kicked off June 20 as part of the United Nations Global Peace Operations Initiative, a program that provides pre-deployment training to nations preparing to support U.N. peacekeeping missions. “What began as a bilateral training event between the Mongolian Armed Forces and U.S. Marine Forces Pacific has grown into the premier peacekeeping exercise in the Pacific region,” U.S. Ambassador to Mongolia Richard Buangan said at the drill’s opening ceremony, according to remarks posted on the U.S. Embassy’s website. The exercise takes place at the Five Hills Training Area near Ulaanbaatar, about 200 miles south of Mongolia’s border with Russia and less than 200 miles north of the border with China. Mongolia has close ties to its much larger neighbors, which are its primary sources of energy and many other products. Mongolia abstained on a U.N. General Assembly vote condemning Russia’s invasion of Ukraine in 2022. However, the landlocked democracy of 3.4 million people has expanded ties to other nations in the region such as Japan and South Korea, which also sent troops to Khaan Quest. Australia, Canada, Egypt, France, Germany, India, Turkey, the United Kingdom, Vietnam and the Philippines are also participating. The last significant U.N. peacekeeping mission in the Pacific, in East Timor, ended in 2012. However, Pacific nations contribute peacekeepers to missions in Africa and the Middle East. The objective of the Khaan Quest, hosted by U.S. Army Pacific and the Mongolian military, is to develop a strategic partnership between the two countries, according to Army Sgt. Austin Riel, a spokesman for the Hawaii-based 8th Theater Sustainment Command. The Mongolians started the drill for their own troops in 2003, but it has been a multinational exercise for 20 years, he said by phone Monday from Mongolia. There are 149 American active duty, Reserve and National Guard soldiers training in Mongolia as part of a multinational contingent of 1,300 troops, Army Lt. Col. Andrea Matthiew, the exercise director, told Stars and Stripes during the phone call. “It’s not preparing troops for a particular peacekeeping mission, but it’s training units to U.N. standards for peacekeeping deployments,” Matthiew, the commander of the Hawaii-based 125th Finance Battalion, said of Khaan Quest. U.S. troops in Mongolia include Guard troops from Idaho, Nevada and Virginia, military police from Hawaii and Colorado, and medical personnel from Hawaii, according to the finance battalion’s senior enlisted leader, Command Sgt. Maj. Natasha Hunt, also on the phone from Mongolia. During Khaan Quest troops did a brigade-level command post exercise, then battalion-level counter drone and cordon-and-search training. At company level, they did counter roadside bomb and medical training, Matthiew said. The training included a multinational company with troops from different nations, with American personnel training Mongolians and Mongolians training Americans, she said. The U.S. soldiers are getting to know Mongolia, tasting local food and checking out horse riding, archery and falconry, Matthiew added. 

BY SETH ROBSON 
Seth Robson is a Tokyo-based reporter who has been with Stars and Stripes since 2003. He has been stationed in Japan, South Korea and Germany, with frequent assignments to Iraq, Afghanistan, Haiti, Australia and the Philippines. 

Mongolia, EU Hold 24th Joint Committee Meeting www.montsame.mn

Mongolia and the European Union held the 24th meeting of the Mongolia–EU Joint Committee in Brussels on June 29.

During the meeting, the participants exchanged views on recent political, social, and economic developments, as well as key international issues of mutual concern. They also reviewed the implementation of ongoing cooperation projects and programs and explored prospects for closer cooperation in infrastructure, renewable energy, trade and investment, education, and agriculture.

The two sides reaffirmed their commitment to strengthening cooperation under the Forest Partnership Memorandum of Understanding to enhance joint efforts in addressing climate change. They also discussed the upcoming 17th Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification (UNCCD), which will be held in Ulaanbaatar.

The committee reviewed the outcomes of the regular meetings of the Human Rights Dialogue and the Development Cooperation Working Group under the Joint Committee. The two sides also agreed to convene a meeting of the Trade and Investment Subcommittee in the near future.

A joint press statement was issued following the meeting. The meeting was co-chaired by Munkhtushig Lhanaajav, State Secretary of Mongolia's Ministry of Foreign Affairs, and Dominic Porter, Deputy Managing Director for Asia and the Pacific at the European External Action Service.

Ooluun.B

Mongolia Hosts Food, Agriculture, Light Industry Investment Forum www.montsame.mn

The Agri-Investment Forum 2026, jointly organized for the first time by Mongolia's Ministry of Food, Agriculture and Light Industry, the Food and Agriculture Organization of the United Nations (FAO), and the Export International Trade Centre, opened on June 29.

The two-day forum brings together representatives of the government, private sector, international organizations, development partners, investors, financial institutions, and businesses to explore new investment opportunities and strengthen strategic partnerships in the food, agriculture, and light industry sector.

Opening the forum, Member of Parliament and Minister of Food, Agriculture, and Light Industry Iderbat Tsagaankhuu and Qingyun Diao, FAO Representative in Mongolia, highlighted the importance of international cooperation in enhancing the competitiveness of Mongolia's food and agriculture sector, attracting greater investment and promoting sustainable development.

In his opening remarks, Minister Iderbat said the sector accounted for 34% of Mongolia's GDP, 5% of export earnings, and 49% of national employment as of the end of 2025.

"These figures demonstrate the sector's strong potential to create jobs, expand value-added production and diversify exports," the minister said, while expressing appreciation to the embassies of France, Belgium, Bulgaria, Poland, Italy, Türkiye, the United States, Canada, and Russia, as well as Mongolia's development partners, for their continued support.

During the first session, State Secretary of the Ministry, Jambaltseren Tumur-Uya, presented Mongolia's strategic initiatives for agricultural development. Xiaoruo Jiang, Senior Policy Officer at the FAO Regional Office for Asia and the Pacific, introduced Mongolia's agricultural development policies, investment environment, as well as investment opportunities under the Hand-in-Hand Initiative.

The forum also features presentations on 12 investment projects seeking strategic partnerships, financing, and market expansion. The projects cover value-added solutions in food production, wool and cashmere, leather processing, agroparks, renewable materials, innovation, and biotechnology.

Panel discussions and presentations focus on key topics including:

• Value chains in the food, agriculture, and light industry sectors;
• Supply chain finance and blended finance opportunities;
• International investors' expectations and investment criteria;
• Successful investment experiences in Mongolia;
• Export opportunities in the meat, dairy, wool, and cashmere industries;
• Lessons from Australia's agricultural experience;
• Climate-resilient food systems;
• Safe chemical management in supply chains; and
• Carbon market opportunities in the agricultural sector.

The forum also provides opportunities for business-to-business (B2B) meetings between investors and companies seeking investment, facilitating new business partnerships and investment negotiations.

In addition, an exhibition showcasing investment projects, products, and services, as well as the activities of the World Food Forum's National Youth Chapter in Mongolia, is open to the public.

Organizers said the forum aims to strengthen cooperation among the government, private sector, international organizations, and investors while promoting sustainable investment, expanding value-added production, and increasing exports in Mongolia's food, agriculture, and light industry sectors. It also seeks to identify new pathways for advancing investment, innovation, and international cooperation in these industries.

Ooluun.B

Korea and Mongolia to Hold 6th Round of CEPA Negotiations www.m.ajupress.com

Korea and Mongolia are set to engage in the sixth round of official negotiations for a Comprehensive Economic Partnership Agreement (CEPA). The two countries aim to reach an agreement through focused discussions on product concessions and origin criteria.

The Ministry of Trade, Industry and Energy announced on June 30 that the sixth round of official CEPA negotiations will take place from July 1 to 3 in Ulaanbaatar, Mongolia. Leading the delegations are Kwon Hye-jin, Director of the Trade Negotiation Bureau from Korea, and Batkhuyag Idresh, Deputy Minister of Economic Development from Mongolia.

Since the CEPA negotiations began in December 2023, five official rounds have brought the countries closer to agreements in key areas such as goods, services, investment, digital trade, and economic cooperation. This sixth round will focus intensively on core issues, including product concessions and origin criteria, to seek a resolution.

Product concessions are central to negotiations, determining how tariffs on goods from the other country will be reduced. Origin criteria establish which products will qualify for preferential tariff treatment under the agreement, directly impacting how businesses utilize the CEPA.

The two countries are viewed as having complementary industrial structures. Korea possesses strong manufacturing and technological capabilities, while Mongolia boasts rapid economic growth and abundant natural resources. If the Korea-Mongolia CEPA is finalized and implemented, it is expected to enhance trade and investment between the two nations, as well as strengthen supply chain and industrial cooperation across various sectors, including infrastructure and consumer goods.

In the context of global supply chain restructuring, Mongolia's rich mineral resources position it as a strategic partner for cooperation in key minerals, resource development, and market entry. Despite its landlocked geography, Mongolia offers connectivity between Central Asia and Northeast Asia, increasing potential for collaboration in logistics, infrastructure, consumer goods, construction, energy, and digital sectors.

Kwon Hye-jin stated, "We will focus on reaching substantial agreements on key areas such as product concessions and origin criteria during this negotiation. We will do our utmost to find a mutually beneficial balance in market opening between the two countries."

By Kim SeongSeo

A Partnership for the Next 50 Years, Mongolia and UNDP Together www.undp.org

Joint Op-Ed by the Chair of the Parliament of Mongolia, H.E. Byambatsogt Sandag and the UNDP Resident Representative in Mongolia, Matilda Dimovska.

As Mongolia marks 50 years of partnership with the United Nations Development Programme (UNDP), this is more than a commemoration of history. It is a moment of confidence and clarity, and a reminder that when the the value of multilateralism is questioned, Mongolia’s experience offers a compelling answer. 

At a time when global cooperation is both challenged and urgently needed, Mongolia stands as a clear example of how multilateralism works in practice. Development here has not been shaped in isolation. It has been built through partnership, anchored in shared values, national ownership, and mutual trust. 

Since 1976, Mongolia and UNDP have worked together across a wide range of priorities, from supporting nomadic livelihoods and environmental protection to strengthening public institutions, expanding employment and household incomes, improving people’s livelihoods, addressing climate change, and advancing digital transformation. 

Over five decades, this partnership has turned trust into action, and shared ambition into lasting progress. This anniversary is not only an opportunity to look back. It is a moment to define a more ambitious next chapter for Mongolia–UNDP cooperation. 

In an era of geopolitical tension, climate change, development inequalities, and economic uncertainty, the Mongolia–UNDP partnership offers an important lesson: multilateralism delivers when it is practical, nationally led, and focused on results that improve people’s lives. 

Fifty Years of Partnership: Building the Foundations of Progress 

Mongolia’s development has been shaped by the efforts, aspirations, and values of its people, by cooperation between the state and citizens, and by international partnerships built on mutual trust. UNDP has stood alongside Mongolia during some of the most defining stages of its development journey. Together, we have supported the transition to a market economy and democratic society, helped strengthen modern governance systems, and contributed to the institutions that continue to underpin the country’s long-term development. 

This partnership has gone far beyond projects. From strengthening the parliamentary system and advancing landmark legislation to supporting key institutions in disaster management, anti-corruption, and human rights, these contributions have helped form the backbone of Mongolia’s progress. UNDP has also supported the policies that matter for the future, including development planning, decentralization, sustainable natural resource management, and climate action. 

Yet the most enduring contribution lies in what is less visible: stronger institutions, more inclusive policymaking, and deeper environmental stewardship. These are the foundations that make development sustainable. They show that development cooperation is not a short-term transaction, but a long-term partnership grounded in trust, knowledge, and shared purpose. 

From Progress to Leadership: Mongolia’s role in a changing world 

Today, Mongolia has reached a new milestone as an upper-middle-income country. This is not only an economic marker, but a testament to decades of resilience, reform, and ambition. 

But this milestone is not an endpoint. It marks the beginning of a new role. 

Mongolia is no longer only a beneficiary of global development cooperation. It is increasingly a contributor, a partner, and a source of solutions. From advancing gender equality and democratic governance to contributing to peacekeeping and championing the priorities of landlocked developing countries, Mongolia is stepping forward with confidence on the global stage. 

In a world searching for credible pathways to inclusive and sustainable development, Mongolia’s experience matters. 

A Partnership Evolving with Ambition 

As Mongolia advances, so too must its partnership with UNDP. 

The traditional model, centered largely on grant assistance, is no longer sufficient to meet the country’s increasingly sophisticated ambitions. Mongolia’s Vision 2050 and national development priorities call for a different kind of partnership: one that is strategic, knowledge-driven, and nationally owned. 

A new phase of partnership is emerging, bringing together strategic national leadership and investment, and global expertise to accelerate development outcomes. It places greater emphasis on policy innovation, institutional capacity, and co-financing arrangements that can scale solutions in areas such as climate action, public services, health, and gender equality. 

Increasingly, this partnership is becoming co-financed and co-created. Government institutions are investing directly in joint initiatives, while UNDP helps mobilize additional resources, expertise, and innovation from across the world. This shift is more sustainable and more empowering, reinforcing national ownership and ensuring that solutions are tailored to Mongolia’s context. 

Looking Ahead: Shaping the Future Together 

The challenges ahead are significant. Climate change is intensifying pressures on ecosystems and livelihoods. Economic diversification remains an urgent priority. Ensuring that growth is inclusive, especially for youth, women, and vulnerable communities, is essential. 

At the same time, Mongolia’s strengths are equally compelling: a young and dynamic population, resilient democratic institutions, vast natural resources, and growing potential in renewable energy and digital transformation. 

The next chapter of Mongolia–UNDP cooperation must match this moment. 

It must support a just and green transition that protects both livelihoods and ecosystems. It must enable future-ready governance systems capable of navigating complexity and uncertainty. It must unlock new opportunities through digital innovation, sustainable finance, and cross-sector partnerships. 

A Partnership for Generations 

Fifty years ago, Mongolia and UNDP came together with a shared vision: to improve people’s lives and build a more prosperous, inclusive, and resilient society. 

Today, that vision endures, but the ambition has grown. 

This is a partnership that has evolved from support to systems, from projects to policies, from assistance to co-creation. In a world of rising uncertainty, Mongolia’s experience reminds us what is possible when cooperation is built on trust and purpose. 

The next 50 years will demand bold choices, innovation, and collective action. 

Together, Mongolia and UNDP are ready not only to meet that challenge, but to lead.

120 foreign investors met with the Prime Minister of Mongolia. What were the initial results? www.open.kg

More than 120 foreign investors and representatives from the banking sector of Mongolia gathered for an extended meeting of the Economic Council led by the Prime Minister, dedicated to the initiative Unlock the Mongolian Economy. It is expected that during the meeting, investment agreements and memorandums of understanding will be signed for a total amount of $545 million. The emergence of initial results is already being noted.

PhillipCapital, managing assets worth $65 billion, will open an office in Mongolia. Founded in Singapore in 1975, PhillipCapital is an international financial group operating in 15 countries and serving over 1.5 million clients.

The decision by PhillipCapital to open an office in Mongolia signals confidence in the country's investment climate. This will allow local businesses to establish connections with international investors, expand their capital markets, and open new financing opportunities. Global investors are showing interest in Mongolia, and it is important to maintain this trust through real projects and openness in the economy.

The Hungarian bank OTP Bank has also expressed its intention to open a branch in Mongolia.

Laszlo Wolf, a member of the board of directors of OTP Bank, noted that if the bank begins operations in Mongolia, it will be able to offer investments to finance large projects as well as develop mortgage lending products. He emphasized that the legal environment for entering the Mongolian market requires reforms, and the Prime Minister is already working on improving the legislative framework. This creates additional opportunities for investment in the country and reflects investors' confidence in the ongoing reforms.

The fact that a major financial institution is considering Mongolia as a promising market indicates a growing confidence in the investment environment. Increased competition in the banking sector should lead to improved service quality and a more diverse financial market.

Luis Santos, founder of the investment company Alpac Capital, reported that Mongolia has already created the necessary conditions to attract Western investors. Previously, the country primarily attracted tourists, but now it is also of interest to financial circles. Santos emphasized that a stable environment and efforts to improve governance contribute to growing investor confidence and the need for more active cooperation with Mongolia.

Mongolia continues to move towards a new stage in attracting international investments and financial flows. The extended session Unlock the Mongolian Economy will continue in Ulaanbaatar on June 29-30.