1 TMK DRILLS FINAL MONGOLIAN PILOT HOLE AMID DEVELOPMENT PARTNERSHIP TALKS WWW.THEWEST.COM.AU PUBLISHED:2025/06/30      2 PM PLANS TO CUT BUDGET BY 2 TRILLION MNT WWW.GOGO.MN PUBLISHED:2025/06/30      3 THE MONGOLZ ANNOUNCE ACADEMY ROSTER / MONGOLIAN PASSION FOR COUNTER-STRIKE / WHY ARE MORE TEAMS INVESTING MORE IN ACADEMY ROSTERS? WWW.ESPORTS-NEWS.CO.UK  PUBLISHED:2025/06/30      4 FIBA 3X3 WORLD CUP 2025: SPAIN AND THE NETHERLANDS CROWNED MEN'S AND WOMEN'S CHAMPIONS WWW.OLYMPICS.COM PUBLISHED:2025/06/30      5 FIRST POLITICAL CONSULTATIONS BETWEEN THE MINISTRIES OF FOREIGN AFFAIRS OF MONGOLIA AND THE KINGDOM OF BELGIUM TAKES PLACE IN BRUSSELS WWW.MONTSAME.MN PUBLISHED:2025/06/30      6 OPINION: BEYOND THE STEPPE AND THE OASIS – UZBEKISTAN AND MONGOLIA FORGE A NEW EURASIAN AXIS WWW.TIMESCA.COM PUBLISHED:2025/06/30      7 SOUTHGOBI RESOURCES' AGM APPROVAL SIGNALS GOVERNANCE STRENGTH AND STRATEGIC CLARITY AMID DEBT DEFERRAL WWW.AINVEST.COM PUBLISHED:2025/06/30      8 MONGOLIA: STAFF CONCLUDING STATEMENT OF THE 2025 ARTICLE IV MISSION WWW.IMF.ORG PUBLISHED:2025/06/29      9 MONGOLIA UPSET USA AT FIBA 3X3 WORLD CUP 2025 QUARTER-FINALS WWW.FIBA.BASKETBALL  PUBLISHED:2025/06/29      10 KYRGYZSTAN, MONGOLIA ENHANCE BILATERAL COOPERATION WWW.XINHUANET.COM PUBLISHED:2025/06/29      Г.ЗАНДАНШАТАР: УУЛ УУРХАЙН ЛИЦЕНЗИЙГ ШАМШИГДУУЛЖ АВСАН НИЙТИЙН АЛБАН ТУШААЛТАНД ХАРИУЦЛАГА ТООЦНО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/30     С.БАДРАЛ: ШИЙДВЭР ГАРГАГЧИД AI НЭРИЙН ДОРХ ШОУГАА ЗОГСООЖ, ХИЙМЭЛ ОЮУНЫ СТРАТЕГИЭ БАТЛАХ ХЭРЭГТЭЙ WWW.GOGO.MN НИЙТЭЛСЭН:2025/06/30     THE MONGOLZ АКАДЕМИЙНХАА БҮРЭЛДЭХҮҮНИЙГ ЗАРЛАЛАА WWW.NEWS.MN НИЙТЭЛСЭН:2025/06/30     Д.АМАРБАЯСГАЛАН: УИХ ХҮНИЙ ЭРХИЙГ ДЭЭДЭЛСЭН, ХҮН ТӨВТЭЙ ХУУЛЬ, ЭРХ ЗҮЙН ОРЧНЫГ БҮРДҮҮЛЭХЭЭР АЖИЛЛАЖ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/30     СҮҮЛИЙН ТАВ ХОНОГТ 22 УДААГИЙН ОЙ, ХЭЭРИЙН ТҮЙМЭР БҮРТГЭГДСНЭЭС 12 ТҮЙМРИЙГ БҮРЭН УНТРААЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/30     ТАРИАЛАЛТ 74 ХУВЬТАЙ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/30     ЗАЙСАНГИЙН ШИНЭ ГҮҮРНИЙ ХӨДӨЛГӨӨНИЙГ НЭЭЛЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/06/30     19 САЯ ТӨЛ ХҮЛЭЭН АВААД БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/29     “БАРУУН-УРТ-БИЧИГТ” ЧИГЛЭЛИЙН АВТО ЗАМЫН 152 КМ ХАТУУ ХУЧИЛТТАЙ АВТО ЗАМЫН БАРИЛГЫН АЖИЛ ЭХЭЛЛЭЭ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/29     ОЙ ХЭЭРИЙН 4 ТҮЙМРИЙГ УНТРААЖ, 6 ТҮЙМРИЙГ ЦУРАМД ОРУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/29    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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North Korea-linked restaurant reopens in Mongolia after yearslong closure www.nknews.org

A restaurant with suspected ties to North Korea has reopened in Mongolia with a new name, likely violating U.N. sanctions that ban DPRK nationals from earning income overseas.
Pekkhwa Culture and Art Center opened its doors in Ulaanbaatar, featuring new wall decor but preserving “faux trees and leaves” decorations from the previous business, a source who visited over the weekend told NK News.
Formerly the Pyongyang Baek Hwa Restaurant, the establishment had been shuttered for years, with a handwritten note attached to the door reading “under construction” when NK News visited in July last year.
Pyongyang Papers, an anonymous blog, reported last June that North Korean workers were set to staff the restaurant shortly, presumably in breach of U.N. Security Council Resolutions 2375 and 2397 that mandate all overseas DPRK laborers return to their homeland.
The source who visited the revamped restaurant over the weekend told NK News that it is unclear who runs or owns the establishment, but a team of about a dozen people is working there, including North Koreans and some Mongolians in management roles.
New photos of the interior obtained by NK News show that while the restaurant’s appearance didn’t undergo many changes — a stage for live music and paintings on the walls are still in place — Pekkhwa now features call bells for summoning staff, akin to those widespread in South Korea.
Similarly, the restaurant still advertises and sells North Korea’s Taedonggang Beer, with a banner that appears to be from the former business visible in the new images.
The restaurant has leaned into its artistic image by retaining a mini-art gallery but moved it to the balcony section upstairs, according to the source.
“They’ve got an array of paintings and embroideries on sale, mostly typical Chosonhwa artwork,” the source said, using a term for North Korean art.
While North Korean paintings aren’t directly targeted by U.N. restrictions, the Security Council did slap sanctions on the DPRK’s leading Mansudae Art Studio in 2017.
NK News attempted to call the restaurant via a phone number posted on the front door last year, but the number has been disconnected.
Calling the number listed on the restaurant’s Facebook page (inactive since 2020) resulted in the person on the line hanging up when asked in English if the venue was taking reservations. Three other phone numbers the restaurant advertised in a 2018 ad were also inaccessible.
Similarly, the Daco Business Center that houses Pekkhwa and lists the venue next to the South Korean CU convenience store on its website didn’t respond to NK News queries about the eatery’s operations. The Mongolian foreign ministry was not immediately available for comment.
The Daco Business Center is co-owned by Mongolian citizens Dashdavaa Daryabazar and Solongo Ukhnaa, with Uyanga Dashzeveg listed as CEO, according to the Mongolian corporate registry. The database appears to lack information on Pekkhwa’s ownership, although a 2022 media report traced the venue to the DPRK Embassy in Mongolia.
Ulaanbaatar has also long maintained amicable ties with the Kim regime, engaging in trade, including of illicit goods, and hosting several other DPRK-linked eateries, like the Pyongyang Restaurant, Pyongyang Koryo Folk Restaurant and Urlag Restaurant.
Additionally, Mongolia was once a frequent recipient of North Korean laborers, particularly in construction and the cashmere sector, until U.N. sanctions blocked such cooperation.
Edited by Alannah Hill
Chad O’Carroll contributed reporting to this story.

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SouthGobi Announces Update on Mongolia Tax Audit www.finance.yahoo.com

SouthGobi Resources Ltd. (TSX-V:SGQ)(HK:1878) ("SouthGobi" or the "Company") announces that reference is made to the announcements of the Company dated July 31, 2023, August 18, 2023, February 26, 2024, May 22, 2024, June 12, 2024, January 20, 2025, February 13, 2025, March 26, 2025 and March 28, 2025 (the "Announcements") in relation to the Mongolia tax audit. Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcements.
On April 25, 2025, the Company's wholly owned subsidiary in Mongolia, Southgobi Sands LLC ("SGS"), obtained a copy of an order dated April 15, 2025 ("LatestCourt Order") issued by the Administrative Court of First Instance in Ulaanbaatar, Mongolia (the "Administrative Court of First Instance") refusing to accept the claim brought by certain MTA Officials against the TDRC ("ProposedCase") in an attempt to dispute or overturn the previous decision made by the TDRC regarding the Re-assessment Result, in which the TDRC concluded that the tax penalty against SGS be reduced from approximately US$80.0 million to US$26.5 million. According to the Latest Court Order, the Proposed Case has been dismissed by the Administrative Court of First Instance. According to applicable Mongolian laws, the plaintiff is entitled to file an appeal to the appellate court, and the Company understands that the MTA Officials, as plaintiff in the Proposed Case, has filed an appeal as at the date of this announcement.
As of the date of this announcement, the Re-assessment Result remains legally valid and in effect. The Company will continue to monitor the status of the above and will make further announcement(s) in order to keep its shareholders and potential investors informed as and when appropriate.
About SouthGobi
SouthGobi, listed on the Hong Kong Stock Exchange and the TSX Venture Exchange, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining licences of its other metallurgical and thermal coal deposits in South Gobi region of Mongolia. SouthGobi produces and sells coal to customers in China.

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Draft Law on Public Procurement to Prioritize Quality-Based Criteria www.montsame.mn

The 5th Meeting of the Economic Development Board under the Prime Minister of Mongolia was held on May 5, 2025. The meeting discussed the draft Law on Public Procurement and the draft Law on Amendments to the Law on the Development Bank of Mongolia.
Chief of the Cabinet Secretariat of the Government of Mongolia Uchral Nyam-Osor presented the concept of the draft Law on Public Procurement. Cabinet Secretariat Uchral emphasized that the current Law promotes low-price competition, which has led to poor-quality procurement practices. To resolve this, the new draft Law prioritizes quality-based selection criteria. Additionally, environmental and social impact indicators will be incorporated into tender evaluations. Furthermore, tenders with estimated costs of up to MNT 10 billion will not require financial guarantees, allowing 99 percent of Procurement Tenders to proceed without such requirements. The draft Law also includes a provision whereby the Government will not request information already in its possession. Procurement processes will be conducted digitally using Artificial Intelligence. Legal disputes will be resolved by an independent council based on international standards and majority decisions.
Members of the Board shared their views on the draft Law on Public Procurement. Tur-Od Lkhagvajav, President and Chairman of the Board of Directors of the Mongolian National Chamber of Commerce and Industry (MNCCI), commended the inclusion of numerous private sector proposals in the draft Law and stressed the need to further advance digitalization in government procurement processes. Davaadalai Batsuuri, Economic Policy Advisor to the President of Mongolia, underlined the importance of refining provisions that promote patriotic procurement and support specific segments, including persons with developmental challenges. Batsaikhan Purev, President of Shunkhlai Holding, proposed revisiting the provision that sets the minimum cost threshold for mega projects at USD 36 million.
At the Meeting, participants were also briefed on the proposed draft Law on Amendments to the Law on the Development Bank of Mongolia. Once at risk of default with nearly half of its loan portfolio classified as nonperforming loans (NPL), the Development Bank of Mongolia has since repaid over MNT 10 trillion in debt. In October and December 2023, the Bank settled USD 500 million in Eurobonds and JPY 30 billion in Samurai bonds on time, fulfilling its obligations to international investors. Furthermore, the proposal suggests transforming the Development Bank into an export-import-oriented bank and increasing its capital base. The Bank’s strategic focus will be directed toward supporting economic diversification and boosting exports, with priority sectors identified as renewable energy, agriculture, environmental protection, mining, transport, logistics, and manufacturing. The Bank will not rely on 100 percent state-funded financing; instead, project initiators must contribute at least 15 percent of total costs. A new legal framework is being developed to ensure transparency in loan issuance and project selection to prevent past mistakes.
Members of the Economic Development Board also gave feedback on the proposed reforms. Gankhuyag Chuluun, Chairman of the Mongolia Economic Forum, stressed the need to improve the Bank’s risk management and governance to minimize political influence. Odjargal Jambaljamts, CEO of MCS Holding LLC, noted that co-financing Development Bank Projects with International Financial Institutions (IFIs) would enhance oversight.
Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai highlighted the importance of incorporating private sector input into the draft Law on the Development Bank of Mongolia and stated that the Government supports transforming the Bank into an export-import-oriented EXIM Bank. The Premier noted that the draft Law on Amendments to the Law on the Development Bank of Mongolia would soon be submitted to the State Great Khural of Mongolia. Prime Minister Oyun-Erdene emphasized that discussing economic and financial matters through the Economic Development Board, followed by deliberations at the levels of Parliament and the Cabinet, represents a sound and commendable practice. The next meeting of the Economic Development Board will comprehensively discuss issues related to social insurance and taxation.

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Mongolia's central bank purchases 3.3 tons of gold in 4 months www.xinhuanet.com

Mongolia's central bank has purchased a total of 3.3 tons of gold from legal entities and individuals since the beginning of 2025, local media reported on Tuesday, citing a statement released by the bank.
The figure decreased by 22.1 percent compared with the same period of 2024, the bank said.
As of April, the average price of gold purchased by the Bank of Mongolia was 364,736.61 Mongolian tugriks (approximately 102 U.S. dollars) per gram.
Purchasing gold is one of the key ways for the central bank to ensure the country's economic stability by consistently increasing foreign currency reserves, said the bank.
According to the regulator, Mongolia's foreign exchange reserves stood at 5.135 billion dollars by the end of April 2025.

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Kazakhstan, Mongolia explore new horizons for trade and economic growth www.en.trend.az

Murat Nurtleu, Deputy Prime Minister and Minister of Foreign Affairs of Kazakhstan, held a phone conversation with Batmunkh Battsetseg, Mongolia's Minister of Foreign Affairs and discussed future prospects for trade and bilateral relations, Trend reports via the Ministry of Foreign Affairs of Kazakhstan.
During the conversation, the parties discussed the current state and prospects of Kazakh-Mongolian cooperation, with a particular focus on enhancing trade-economic, investment, and transport-logistical ties.
"The importance of coordinating efforts to implement agreements at the highest level and deepening the strategic partnership between Kazakhstan and Mongolia was highlighted," the ministry's statement reads.
Following the negotiations, the interlocutors agreed to maintain a high level of contact between the foreign ministries of the two countries to further strengthen cooperation.
By the end of 2024, the trade turnover between Kazakhstan and Mongolia amounted to $150 million, which is 20 percent more than in the previous year.

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Mongolia Sharpens Its Focus on Cybersecurity www.montsame.mn

Mongolia was placed in Tier 3 out of 5 in the Global Security Index issued by the International Telecommunication Union (ITU), with a score of 56 points. This indicates that while the country has been expanding digital services and increasing online connectivity, there is still work to be done to integrate cybersecurity into its meaningful connectivity objectives. Over the next two years, Mongolia aims at improving its score by 25 points.
The Public Computer Security Incident Response Team met with representatives from private sector organizations with critical information infrastructure eight times over the past two months. On May 1, 2025, a meeting was held to summarize the proposals, solutions, and results.
At the meeting, security experts presented the results of their efforts to prevent cyberattacks in collaboration with organizations responsible for critical information infrastructure. They also shared proposals and solutions, highlighting the cooperation and best practices of commercial banks with critical information infrastructure.
S. Javkhlan, the Head of the Public Computer Security Incident Response Team, emphasized the importance of promptly reporting cyberattacks. “When an individual or organization is subjected to a cyberattack, it is crucial to report it to the police and 113 immediately. Without swift action on the spot, it will be challenging to apprehend the perpetrator.”
As of 2024, 12 types of cyberattacks were registered in Mongolia, including phishing attacks targeting individuals, ransomware attacks targeting organizations, and botnet attacks.
The Public Computer Security Incident Response Team is responsible for raising awareness and educating the public about cyberattacks, reporting vulnerabilities in advance, detecting and responding to attacks, and offering guidance on recovery and measures to prevent future incidents.

 

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Mongolia Discusses Tax on Imported Flour and Wheat www.ukragroconsult.com

The Mongolian government has submitted a bill to repeal the law on exemption from customs duties, the news portal news.zindaa.mn reported on May 2.
The report notes that the first debate on the bill to repeal this law took place at a plenary session of the parliament. Most deputies supported it. The bill was transferred to the Standing Committee on Environment, Food and Agriculture and the Standing Committee on Budget to prepare for the final discussion.
It is emphasized that the adoption of the bill will restore the legal framework that establishes a 15 percent tax on imported flour, wheat and animal feed. The Ministry of Food, Agriculture and Light Industry believes that this will support domestic wheat cultivation and flour production.
The report indicates that due to the abolition of customs duties on flour, Mongolia has lost 40% of the domestic market. The Ministry of Agriculture reported that wheat cultivation has decreased by 30%.
During a joint meeting of the standing committees on budget and environment, food and agriculture, MP Ts. Davaasuren supported a special motion to implement the law from 20 May 2025.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.

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Over 5,000 Runners Registered for the Ulaanbaatar Marathon 2025 www.montsame.mn

The annual "Ulaanbaatar Marathon" International Competition will take place on May 24, 2025.
The shortest distance category of the "Ulaanbaatar Marathon 2025" will be 1.5 km, allowing runners to participate with their families. Furthermore, individuals using wheelchairs and visually impaired runners can join this category, for which 954 people have already registered.
Furthermore, 2,451 participants have registered for the 5 km category and 794 for the 10 km category. Additionally, over 700 people have signed up for the half marathon (21 km), divided into age groups: 18–34, 35–54, 55 and above, as well as a category for runners with physical disabilities. In the full marathon (42 km) category, which is divided into two groups, runners aged 18 and above, and a category for participants with developmental challenges, 135 people have registered.
The registration fee ranges from MNT 5,000 to MNT 9,000, depending on the race distance. Participants in the special 500-meter and 800-meter categories can join free of charge.
Anyone wishing to participate in the marathon can register at https://ulaanbaatar.marathon.mn/ or the "Hipay" application.
Bib numbers will be distributed to runners on May 10-20, 2025.

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ADB Support for Food Security to Reach USD 40 Billion by 2030 www.montsame.mn

The Asian Development Bank (ADB) announced plans to expand its support to long-term food and nutrition security in Asia and the Pacific by USD 26 billion, bringing its total funding for food security initiatives to USD 40 billion over 2022–2030.
The assistance will fund a comprehensive program spanning the entire food production process, from farming and processing, to distribution and consumption. Through financing and policy support for governments and companies, the program aims at helping Asia and the Pacific generate diverse and nutritious food, create jobs, reduce environmental impacts, and promote resilient agricultural supply chains.
At ADB’s 58th Annual Meeting in Milan, ADB President Masato Kanda remarked, “Unprecedented droughts, floods, extreme heat, and degraded natural resources are undermining agricultural production, while at the same time threatening food security and rural livelihoods.
This expanded support will help countries alleviate hunger, improve diets, and protect the natural environment, while providing opportunities for farmers and agribusinesses. It will drive change across the entire food value chain, from how food is grown and processed to how it is distributed and consumed.”
The new ambition builds on ADB’s September 2022 pledge to invest USD 14 billion by 2025 to improve food security and ease the regional food crisis. By the end of 2024, ADB had committed USD 11 billion, about 80 percent of the original allocation, with an additional USD 3.3 billion in investments programed for 2025.
The USD 26 billion in additional funding announced today will consist of USD 18.5 billion in direct ADB support for governments and USD 7.5 billion in private sector investments. By 2030, ADB aims for private sector investments to account for more than 27 percent of the total USD 40 billion program, underscoring the critical role of the private sector in driving food systems transformation.
More than half of the world’s undernourished people live in developing Asia. Biodiversity loss and malnutrition are straining food systems, which account for 70 percent of global water use, 50 percent of habitable land, and 80 percent of biodiversity loss. Food systems also employ 40 percent of the region’s workforce.
To support food systems transformation, the program will modernize agricultural value chains to improve access to affordable and healthy food for vulnerable populations. It will also invest in improving soil quality and conserving biodiversity-essential elements for productive agriculture that are increasingly under threat from climate change, pollution, and the loss of land and aquatic ecosystems. The program will support the development of digital technology and analytics to improve decision-making for farmers, agribusinesses, and policymakers.
ADB is establishing the Natural Capital Fund, a planned USD 150 million blended finance vehicle, with anchor support from the Global Environment Facility and contributions expected from other partners including the Global Agriculture and Food Security Program. This fund will support agri-food system projects by farmers and innovators that protect, restore, and manage natural capital sustainably across ADB’s developing members.
ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members, 50 from the region.

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The First Naadam Festival of the World Mongols to Take Place in Belgium www.montsame.mn

The first Naadam Festival of the World Mongols will be held in the Kingdom of Belgium on June 28, 2025.
Under the auspices of the President of Mongolia, the Office of the President of Mongolia, the State Committee in charge of Organizing the National Naadam Festival, the Ministry of Foreign Affairs of Mongolia, and the “Council of Mongolians Abroad” NGO, in collaboration with Mongolian Embassies and organizations established by Mongolians abroad, will organize the first Naadam Festival of the World Mongols in Brussels, the capital city of the Kingdom of Belgium.    
During the Naadam Festival, traditional competitions in wrestling, archery, and knuckle-bone shooting will take place. Additionally, the Festival will feature a Mongolian products and food fair, as well as folklore performances, all aimed at promoting Mongolian culture and heritage.
State Secretary of the Ministry of Foreign Affairs of Mongolia and Head of the Working Group for Organizing the "Naadam Festival of the World Mongols" Munkhtushig Lkhanaajav, Deputy Chairman of the "Council of Mongolians Abroad" NGO G. Ganzorig, and Secretary General of the Council B. Munkhdelger have announced that registration for the wrestling, archery, and knuckle-bone shooting competitions will be conducted through the relevant sports associations and Mongolian embassies in Europe.

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