Battushig Reelected President of Mongolian National Olympic Committee www.montsame.mn

The regular 9th General Assembly of the Mongolian National Olympic Committee convened on March 12, 2026, at the Shangri-La Ulaanbaatar.

The assembly began with 136 of the 171 eligible members in attendance. Opening remarks were delivered by Battushig Batbold, member of the International Olympic Committee and President of the Mongolian National Olympic Committee. Kirsty Coventry, President of the International Olympic Committee, also sent a message wishing success to the participants.

During the assembly, participants discussed a report on activities carried out over the past period and elected the new leadership of the Mongolian National Olympic Committee. For the position of president, IOC member Battushig Batbold ran as the sole candidate and was re-elected with 96.7 percent of the votes, securing another four-year term to lead the committee. With this result, he becomes the 13th president of the organization.

First Vice President Naranbaatar Choijgavaa and Vice President Gantulga Tsendsuren, President of the Mongolian Table Tennis Association, were also elected. For the Executive Council, 14 candidates were nominated. Of them, seven candidates who received the highest number of votes were approved as members of the Executive Council. They include Yeroolbat Galbadrakh, Secretary General of the Mongolian Gymnastics Federation; Sodbaatar Yangug, President of the Mongolian Wrestling Federation; Buyandelger P, member of the Board of Directors; Myagmarjav L, President of the Mongolian 3x3 Basketball Federation; Bolormaa D, President of the Mongolian Skating Federation; Sandui Ts, President of the Mongolian Triathlon Federation; and Enkhtur D, member of the Board of the Mongolian Cycling Federation. Meanwhile, Members of Parliament Nomin Chinbat and Ganbaatar A, who had been nominated for the Executive Council, withdrew their candidacies.

Notably, among the participants at the assembly, the oldest attendee is 100 years old, while the youngest is 29. The gathering also includes five recipients of the titles Hero of Labor and People’s Teacher, 11 honored title holders, 37 International Masters of Sport, 16 Masters of Sport, and five athletes who have won Olympic or world championship medals.

Coal Export Increases www.montsame.mn

 Mongolia’s coal export increased during the first two months, the Ministry of Economy and Development reported.

Specifically, Mongolia exported 10 million tonnes of coal in January, which represents a 73 percent increase compared with 5.8 million tonnes during the same period of last year. On average, about 326 thousand tonnes of coal were exported per day during the month.  

In February, Mongolia exported 6.4 million tonnes of coal, up by 11 percent from 5.7 million tonnes in February last year. The export volume declined somewhat due to overlapping Lunar New Year holidays in Mongolia and China and relatively shorter number of days in the month. However, excluding the holiday period, the country still exported an average of around 320 thousand tonnes of coal per day.

As of March 10, Mongolia had exported 3 million tonnes of coal, which is 2.6 times higher than the 1.3 million tonnes exported during the same period last year. The country is currently exporting an average of about 330 thousand tons of coal per day.

Government Approves Agreement on Second Railway Line at Zamiin-Uud–Erenhot Crossing www.montsame.mn

The Government of Mongolia discussed and approved the draft intergovernmental agreement with China on jointly constructing a second 1,435-mm gauge railway line at the Zamiin-Uud–Erenhot Border Crossing during its session on March 11, 2026. The Cabinet also decided to issue a prime ministerial order authorizing the signing of the agreement.

The two sides have gradually increased the capacity for train crossings at the border point. However, the volume of cross-border freight transport has now reached the full capacity of the two border stations, limiting further growth in transportation.

As of 2025, an average of 16 broad-gauge trains and 7.5 standard-gauge trains are exchanged daily through the Zamiin-Uud–Erenhot railway border crossing, handling a total of 15.5 million tons of cargo.

According to the Media and Public Relations Department of the Government of Mongolia, further expansion of the border crossing’s capacity will require the construction of a second cross-border standard-gauge railway connection, as well as the expansion of Zamiin-Uud Railway Station, the standard-gauge railway line, and cargo transshipment facilities.

Asian Battery Metals Acquires Maikhan Uul Project in Mongolia www.discoveryalert.com.au

Asian Battery Metals (ASX: AZ9) has completed a significant strategic acquisition, exercising its option to acquire 100% of the Maikhan Uul Copper-Gold Project in southwestern Mongolia. The deal, valued at US$890,000, adds a promising copper-gold asset with a mining licence valid until 2045 to the company's growing Mongolian portfolio.

The acquisition represents more than just another exploration play. Located just 8 kilometres from ABM's existing Oval Cu-Ni-PGE discovery, Maikhan Uul creates immediate operational synergies and strengthens the company's foothold in Mongolia's established copper province. Recent due diligence drilling has validated the project's potential, returning impressive results including 14.5 metres @ 2.23% copper and 0.73 g/t gold from 132.5 metres depth.

Deal Structure Reflects Confidence in Asset Quality
According to the announcement, ABM's acquisition terms demonstrate the company's measured approach to growth. The US$890,000 purchase price is structured with an initial US$89,000 tax payment due within 10 business days, followed by the remaining US$801,000 upon satisfying standard conditions precedent.

Key Transaction Terms:

Total Consideration: US$890,000
Initial Payment: US$89,000 (tax obligations)
Balance: US$801,000 on completion
Completion Timeline: 45 days maximum
Asset: 100% ownership of Mining Licence MV-019681 (~79.14 hectares)

The conditions precedent are largely administrative, focusing on licence transfer formalities and tax compliance. This suggests ABM has already completed its technical evaluation and expressed satisfaction with the asset's potential.

Investment Week Discusses Business, Legal Environment www.montsame.mn

On the second day of the Investment and Trade Agency Week, Member of Parliament Munkhsoyol Baatarjav emphasized the need to improve the stability and transparency of the investment environment and to accelerate decision-making.

Within the framework of the Investment and Trade Agency Week, key economic and legislative issues to be discussed at the spring session of Parliament, starting next Monday, are being highlighted. In particular, the session is expected to deliberate on matters such as the package of tax laws and the Law on Value-Added Tax, among other issues.

Member of Parliament Munkhsoyol noted that investors typically make decisions by assessing which countries have stable macroeconomic indicators and a favorable, fair investment environment. Therefore, she emphasized that Mongolia needs to intensify its economic policy and reform efforts. She further stated, “The discussion around the Law on Economic Freedom represents one step in this direction. International researchers and investors often stress the need to increase transparency, reduce excessive state involvement in the economy, and ease the pressure and bureaucracy faced by the private sector. Therefore, improving the business environment and refining legal regulations is essential. At the same time, the most important factor in attracting foreign direct investment is a stable and predictable legal environment. The longer decision-making is delayed, the greater the uncertainty becomes, which weakens investor confidence. For this reason, we need to enhance the stability and transparency of the investment environment, as well as the speed of decision-making. On the other hand, when discussing tax policy, the state budget revenue must also be considered, since taxes are the main source of government income. If tax rates are to be reduced, their impact should be determined based on solid calculations and research.

For example, lowering tax rates may reduce the burden per individual, but it could also increase the number of taxpayers and generate greater efficiency for the economy. It is also important to bring groups that previously did not pay taxes into the tax system to ensure fairness.”
 
Meanwhile, Myagmardorj O., Head of the Macroeconomic Policy Department of the Ministry of Economy and Development, explained that agriculture and the mining sector are the main drivers of economic growth, according to preliminary estimates. Export performance has shown noticeable fluctuations throughout the year. In the middle of the year, exports declined somewhat due to a drop in coal prices. However, toward the end of the year, export volumes improved, with coal exports reaching 90 million tons. He added that although coal export revenue tended to decline compared to the previous year, copper and gold exports helped offset the decrease. This was largely due to significant increases in global prices for copper and gold, which supported export revenues.

As of February this year, export revenues have increased by around 50 percent compared to the same period last year. Imports, however, have shown a slight decline compared with the previous year.

The primary factor behind this decrease has been a decline in investment-related goods imports. This suggests that domestic demand and economic activity related to imports may weaken to some extent in 2026.

Additionally, a public discussion on the fiscal framework statement will be held later this month. A presentation outlining Mongolia’s economic outlook and fiscal projections for the next three years will be submitted to the State Great Khural (Parliament) in May 2026.

Mongolia’s trade surplus widens as exports surge www.qazinform.com

For the first two months of this year, Mongolia’s exports rose to 3,046.4 million US dollars, while imports declined to 1,575.9 million US dollars, Qazinform News Agency cites MONTSAME.

That brought the country’s trade surplus to 1,470.5 million US dollars in January-February this year.

The General Administration of Customs said on Wednesday the country’s foreign trade turnover reached 4,622.3 million US dollars in the first two months of the year, rising by 906.5 million US dollars or 24.4 percent year on year.

In the reporting period, the top five purchasers of Mongolian goods were China ($2,778.1mln), Switzerland ($172.6mln), the U.S. ($54mln), Brazil ($9.1mln), and Russia ($6.7mln).

Earlier, it was reported China’s exports jump in January-February despite a drop in the U.S. trade. 

BY Adlet Seilkhanov

Mongolia demands Rio Tinto change “unfair” terms of deal on giant Oyu Tolgoi copper mine www.intellinews.com

Mongolia has informed Anglo-Australian mining giant Rio Tinto (ASX: RIO) that it wants a renegotiation of “unfair” commercial terms of the contract that applies to the development of the huge $18bn Oyu Tolgoi copper and gold mine in the Gobi desert.

Mongolia’s official news agency Montsame reported that Prime Minister Zandanshatar Gombojav on March 9 met with Katie Jackson, head of copper at Rio, and presented demands.

In early December last year, bne IntelliNews reported on how Mongolia was calling public hearings ahead of a likely push to obtain better Oyu Tolgoi terms from Rio.

At the meeting, Jackson presented Rio’s proposals on issues including management fees and interest rates on shareholder loans, according to Montsame.

The media outlet’s report added that Zandanshatar said that while it was commendable that Rio had shown respect for negotiations with the government of Mongolia and arrived with certain progressive proposals, the suggestions were insufficient for Mongolia and could not be accepted.

He was reported as reiterating that he remained steadfast in his position, first expressed as far back as 2009, that the principle of “mutual benefit” was not being adequately upheld in the Oyu Tolgoi project.

“There is a principle that the Mongolian people are the rightful owners of their natural wealth. Under the current arrangement, Mongolia would receive dividends from the Oyu Tolgoi project only after 20 to 30 years, which does not align with the principle of mutual benefit. The idea that Mongolians should own their natural wealth is a right guaranteed to the people under the Constitution,” Zandanshatar was quoted as saying at the meeting with Jackson and other Rio representatives.

The Financial Times reported video footage as showing that the prime minister at the meeting warned Rio executives that “this whole situation feels like the Mongolian people and the parliament are being deceived”.

He was also reported by Montsame as outlining demands, including:

Raising Mongolia’s share of benefits from the Oyu Tolgoi project to more than 60%.
Significantly reducing the interest rate on shareholder loans.
Lowering management fees and ensuring that Oyu Tolgoi LLC becomes operationally independent in terms of management from 2030.
Distributing dividends to Mongolia by 2026.
Resolving issues related to licences of Canadian project partner Entrée Resources (TSE: ETG) in accordance with Article 6.2 of the Constitution. This stipulates that the majority of benefits from natural resources must accrue to the people.
Rising prices for copper and growing support for resource nationalism in Mongolia have contributed to strong political momentum to change the terms of the 17-year-old mine development deal. Politicians are conscious that the issue will play a role in elections due next year.

Under the terms of the original Oyu Tolgoi agreement, the government of Mongolia owns 34% of the mine, held through state-owned mining company Erdenes Mongol Group.

To fund its share of the capital expenditure required to develop the mine, the government took out a multibillion-dollar loan from Rio. It was provided at a floating interest rate that is presently more than 11%.

There have been repeated project cost overruns and delays. These have pushed back the time when the government will start to receive dividends from mine profits from 2017 to around 2037.

The Mongolian proposal would cut the loan interest rate to less than 6%, on par with the interest rate for Mongolia’s other sovereign lending, according to the FT.

Rio’s plan is to make Oyu Tolgoi the world’s fourth largest copper mine by 2030, with production to run at around 500,000 tonnes of the metal a year.

“We are engaged in active negotiations with the Mongolian government,” Rio said in a statement reported by the FT, adding: “These discussions reflect our continued commitment to working together to achieve Oyu Tolgoi’s full potential for the benefit of all partners.”

At present, the mine produces copper from its open pit. Its underground operations are being built out.

On March 10, JPMorgan downgraded Rio from 'overweight' to 'neutral'. 

Mongolia Rio Tinto Copper Partnership Renegotiation Developments www.discoveryalert.com.au

91 citizens returned to Mongolia on special mission flight www.gogo.mn

The Government of Mongolia organised a special repatriation flight on March 10, 2026 that brought 91 citizens home from Dubai on a Ulaanbaatar–Dubai–Ulaanbaatar mission operated by MIAT Mongolian Airlines. The airline deployed a 23-person flight team, and the operation was coordinated with the United Arab Emirates Air Force and civil aviation authorities.
The evacuation was arranged after reports of escalating conflict in the Middle East disrupted commercial routes and led several countries to close or restrict their airspace; in recent days only humanitarian and emergency flights, including evacuations, have been allowed to operate in parts of the region affected by military action. Mongolian officials said the special flight was part of broader efforts by states to repatriate nationals from the area.

Mongolian Foreign Minister Attends Nuclear Energy Summit www.montsame.mn

Minister of Foreign Affairs Battsetseg Batmunkh participated in the second World Nuclear Energy Summit held on March 10 in Boulogne-Billancourt, France.

The summit, co-hosted by France and the International Atomic Energy Agency (IAEA), discussed the role of nuclear energy in mitigating climate change and reducing carbon emissions, financing for energy projects, advanced technologies, safety standards, and the harmonization of regulatory and inspection systems to develop unified international standards. Participants also addressed issues including small modular reactors, fuel supply for nuclear power plants, and human resources in the nuclear sector.

In his opening remarks, Emmanuel Macron, President of France, emphasized that nuclear energy plays an important role in strengthening countries’ strategic independence and industrial competitiveness, as well as in reducing carbon emissions. He also highlighted the importance of a reliable fuel supply for the sustainability of the nuclear sector, noting that a number of countries are engaged in uranium mining. In this regard, he mentioned Mongolia and Kazakhstan as countries planning to expand uranium production, stressing that diversifying supply sources and deepening international cooperation are crucial for the stability of the nuclear energy sector.

More than 60 countries were represented at the summit by heads of state and government, cabinet ministers, leaders of international organizations, and representatives of industry and financial institutions, who discussed the future of nuclear energy and presented their respective policies and activities.

During the opening session, Minister Battsetseg presented Mongolia’s energy outlook and its position on nuclear energy in the context of international cooperation. She noted that energy security is a key priority for Mongolia and emphasized the importance of aligning the development of safe, sustainable, and affordable nuclear energy with the climate goals of the Paris Agreement.

On the sidelines of the summit, Minister Battsetseg held a bilateral meeting with Jean-Noël Barrot, France’s Minister for Europe and Foreign Affairs, during which the two sides exchanged views on Mongolia–France relations, cooperation projects, and the international situation.

According to the Ministry of Foreign Affairs, Mongolia joined the adoption of the declaration titled “Affordable and Safe Nuclear Energy for All” and a joint statement on financing in the nuclear energy sector issued at the summit.