Events
| Name | organizer | Where |
|---|---|---|
| MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2025 London UK | MBCCI | London UK Goodman LLC |
NEWS
China-backed coal projects prompt climate change fears www.bbc.com
As levels of greenhouse gases reach a new record, concerns are growing about the role of China in global warming.
For years, the increase in the number of Chinese coal-fired power stations has been criticised.
Now environmental groups say China is also backing dozens of coal projects far beyond its borders.
Coal is the most damaging of the fossil fuels because of the quantity of carbon dioxide it releases when it's burned.
Last year, the concentration of carbon dioxide in the atmosphere reached its highest level for the past 3-5 million years, according to the latest research by the UN's weather agency, the World Meteorological Organisation (WMO).
And last month the UN's climate science panel said that coal must be phased out by 2050 if the world is to have any chance of limiting the rise in temperatures.
The Chinese-supported coal projects are under way or planned as far afield as South America, Africa, southeast Asia and the Balkans.
Contracts and financing for these facilities are often not fully transparent but campaign groups including Bankwatch have tried to keep track.
"You cannot be a world leader in curbing air pollution and at the same time the world's biggest financier of overseas coal power plants," the group's energy coordinator Ioana Ciuta told the BBC.
According to Ms Ciuta, efforts to tackle the dirty air of Chinese cities have led many power companies to limit their ambitions for coal-fired power stations in China itself and to target their technology and labour overseas instead.
"By having China invest in over 60 countries along the Belt and Road Initiative, it's perpetuating a source of pollution that has been demonstrated to be harmful not just to the climate but also to economies," she said.
No carbon capture
In Serbia, one of the country's largest coal-fired power stations is being expanded with the help of a loan from a Chinese bank and with the work being led by one of China's largest construction companies.
An hour's drive east of the capital Belgrade, in the coal-rich Danube valley, construction has already started at the site, known as Kostolac B3.
An existing power station towers over the rolling landscape, a steady stream of pollution twisting from a massive smokestack, and conveyor belts ferry coal from a nearby open-cast mine at Drmno.
The power station is run by the national Serbian electricity company, EPS, which provides about 70% of the country's power by burning coal - the rest comes from hydro-electric schemes.
Now, under a $715m (£560m) contract agreed by the Serbian government and Chinese President Xi Jinping, an extra unit is being added, which will bring 350MW of additional capacity with the latest "super-critical" technology.
When we visit, we catch a brief glimpse of a group of Chinese workers wearing hard hats on their way from the construction site to a vast set of accommodation blocks - by next year, some 1,500 Chinese staff will be here.
Safety signs and notice boards are written in Serbian and Chinese. Equipment and shipping containers carry Chinese labels.
I ask the EPS official running the project, Zeljko Lazovic, what he feels about such a large and important venture being in the hands of Chinese engineers and workers.
"In the next few months a lot of Chinese will come here and this will be a big challenge," he says.
"With Chinese workers and Serbian workers, at the beginning we had some cultural problems but we have overcome them and there is now very good cooperation."
Efforts to tackle pollution in Chinese cities such as Beijing have pushed Chinese power companies to look overseas
When asked about the environmental cost of the new project, Mr Lazovic insisted it would meet all the EU's standards on pollution by dust, nitrogen dioxide and sulphur.
However, the new unit will not be fitted with any carbon capture technology so it will fit into a pattern of Chinese-backed projects that will add to carbon dioxide levels in the atmosphere.
'Locked into high emissions'
Christine Shearer is an analyst with the group CoalSwarm, which tracks coal developments, and she is scathing about the implications.
"These projects are not compatible with limiting global warming to 1.5C or 2C," she said, referring to the two targets of the Paris Agreement on climate change.
She says that Chinese financial institutions are filling a gap left by Western banks and agencies deciding to limit their involvement in coal.
"These projects, if completed, will lock the countries into high carbon-emitting infrastructure and volatile coal imports precisely at a time when prices for clean energy are starting to fall below that of coal power."
We tried to contact the Export-Import Bank of China, which is providing the loan, and the China Machinery Engineering Corporation, which is leading the construction, but did not hear back.
For the Serbian power company, EPS, the attraction of a local supply of coal has combined with a cheap Chinese loan and the prospects of valuable exports of electricity.
Respiratory diseases
About 3,500 jobs depend on the Kostolac complex but some local people have become increasingly outspoken about the pollution in the area.
Momir Savic showed me how the conveyor belts carrying coal run close to the villages and he fears a further expansion of the operation.
"The quality of our air and water is very poor. We cannot grow fruit and vegetables. There is also a lot of noise. All this affects the health of people living here, many of whom have respiratory diseases," he said.
EPS says it is spending hundreds of millions of euros on environmental protection but its track record clearly does not inspire trust.
Pera Markovic, a lawyer with Cekor, an environmental group, is critical of the company's failure to limit pollution in the local area.
But he concedes that Serbia is heavily dependent on coal for its power.
For how long? "Decades," Mr Markovic says.
That's likely to be the same in many other countries too, whatever climate scientists say is needed.
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Mongolia’s developing air ambulance service www.news.mn
Helicopter landing sites (HLS) are being constructed outside three big hospitals in the Mongolian capital Ulaanbaatar with the aim of developing the air ambulance service. Recently, the National Centre for Communicable Diseases has become able to receive medical helicopters with the construction of an HLS. A 11728 square meters site consisting of the HLS, a car park with a capacity of 194 vehicles, 2580 meters of pavements, 125 street lights, 104 seats and 41 rubbish bins has been constructed.
Helicopter landing sites have been constructed outside the National Trauma Orthopedic Research Center and the National Centre for Mother and Child Health.
Gazprom stops auction as it’s ‘sold out’ for 2018 www.rt.com
Gazprom Export, the export arm of Russian gas giant Gazprom, has stopped the natural gas auctions on its electronic sales platform because all natural gas available until the end of 2018 has already been sold.
Gazprom Export launched on August 17 its Electronic Sales Platform (ESP) for physical natural gas sales to European consumers, in addition to supplies under existing contracts. The Russian firm expects the platform “to become an additional mean to optimize supplies of gas,” Elena Burmistrova, Director General of Gazprom Export, said.
Sales via the ESP began on September 20, and according to Gazprom Export data, no auctions have been held since last Friday, November 16.
“There are no auctions as all of the gas available in balance has been sold till the end of the year,” a source close to the process told S&P Global Platts.
Gazprom first set a ceiling of 1.14 Bcm of natural gas to be sold in auctions that were planned to run until the end of December this year. Later in the process the Russian company lifted the ceiling. According to Platts estimates, the auction process was halted at 1.036 Bcm sold, just below the original ceiling.
Gazprom, which holds around a third of the European gas market, started the electronic daily auctions to sell gas to customers outside its long-term contract model.
Between January and mid-November, Gazprom’s natural gas deliveries to European countries increased by 3.5 percent compared to the same period last year, with exports to Germany, Austria, the Netherlands, the Czech Republic, Hungary, and Greece rising, Gazprom said last week.
Last month, Gazprom Export’s Burmistrova said that the Russian giant sees additional demand for its gas in Europe at up to 50 Bcm in the medium and long term, and that it would continue to push for the Nord Stream 2 and Turk Stream pipeline projects.
8.7 million livestock to winter in transhumance www.montsame.mn
Ulaanbaatar /MONTSAME/. According to the Ministry of Food, Agriculture and Light Industry, preparation for winter has been done by a total of 169.7 thousand herder families, that own over 68 million livestock, while another 8.7 million are to spend the winter and spring in transhumance.
Head of Policy and Planning Department of the Ministry of Food, Agriculture and Light Industry M.Enkh-Amar said, “Compared to last year, the migration has decreased by 1.1 million livestock. As for livestock feed, hay increased by 227.0 thousand tons, while forage and fodder increased by 90.8 thousand tons and 38.6 thousand tons respectively.” Head of Department of Crop Production Industry Policy Management at the Ministry of Food, Agriculture and Light Industry Ts.Bolorchuluun said, “By our preliminary estimations, 444.7 thousand tons of crop were harvested, which is 1.8 times more than the previous year’s harvest. With this, the domestic demand for wheat and potatoes is met.
However, due to difficult weather conditions, 24.3 thousand hectares of crop became livestock feed and 12.9 thousand hectares of harvest was lost, which comes to a total of 37.2 thousand hectares of area having no harvest.
To produce the annual needs of flour for our country, 320 thousand tons of wheat is required, which as of now, there seems to be enough.”
Yuhan-Kimberly assists reforestation in Mongolia www.koreaherald.com
Yuhan-Kimberly, a South Korean manufacturer of sanitary products, said it was joining forces with the Mongolian government to restore a forest and open an observatory tower there.
According to the company, the work to restore deforested areas of Mongolia’s Tujin Nars forest began in 2003. The forest had sustained severe damage after two fires before the local government formally asked Yuhan-Kimberly to take part in the project in 2001.
Since that time, over 10 million trees have been planted.
The company said the project would not only prevent desertification in Mongolia but would also reduce the amount of fine dust blowing toward the Korean Peninsula.
Yuhan-Kimberly is leading environmental conservation efforts in and outside of Korea through its corporate social responsibility program.
Since 1998, the company has planted trees in government-owned forests, also offering opportunities for people to participate in various environmental activities by working closely with domestic and foreign forest-conservation organizations.
The company has been planting trees in Korea’s metropolitan areas since 2005, including Seoul Forest in Seongdong-gu, and has helped create 12 small forests in residential areas across the country.
Last year, the company opened a forest-cultivation center in Hwacheon, Gangwon Province. The center can produce 45 million seedlings per year, which will facilitate reforestation on the Korean Peninsula, Yuhan-Kimberly said.
IMF suggests tighter monetary conditions www.zgm.mn
An International Monetary fund (IMf) staff team led by Geoff Gottlieb has visited Ulaanbaatar to conduct discussions on the sixth review of the three-year extended fund facility (eff) arrangement. The team highlighted the widening current account deficit and suggested the central bank to rein in high credit growth.“As we reach the mid-way point of the IMfsupported program, significant progress has been made by the authorities in overcoming the economic crisis. Growth has revived to over 6 percent, the overall fiscal balance has swung from a large deficit to a small surplus, and government debt has fallen sharply. While the external environment has been supportive with buoyant export demand, the recovery has become broader based with consumption and investment rising sharply.
Inappropriate levels of international reserves and bank capital remain key vulnerabilities
Against this backdrop, the authorities are on track to meet all end-December macroeconomic targets, including the fiscal deficit and net international reserves,” Mr.Gottlieb mentioned at the end of the mission. However, he explained that this recovery brings new challenges as stronger domestic demand conditions are widening the current account deficit, halting reserve accumulation. “In response, the Bank of Mongolia should rein in high credit growth through tighter monetary conditions and the introduction of well-targeted macro-prudential measures,” suggested Mr. Gottlieb In the financial sector, the follow-up to the asset Quality Review that was completed in 2017 is entering its final phase. The team warned that the undercapitalized
banks have until end-December to raise the necessary new capital and failure to do so will face central Bank intervention or be resolved as per the Banking law. Additionally, Mr. Gottlieb recommended the authorities to commit to strengthening the business and investment climate.
Mongolia: small embassies can have a big impact www.blogs.fco.gov.uk
By:Catherine Arnold Former British Ambassador to Mongolia
Part of BBC Inside the Foreign Office 2018 UK in Mongolia
Mongolia is everything you expect. Mongolia is also everything you don’t expect. At least that’s what I found as the UK’s Ambassador. The world’s least densely populated country, which was once one of the largest empires in world history, it is a land of immense beauty and rich history.
Mongolia is also a vibrant 21st century democracy. Many issues that matter to Mongolia, matter to us – media freedom, climate change, global peacekeeping. And, it’s quite literally sitting on a gold mine. Home to over 6000 deposits of more than 80 different minerals, Mongolia has the potential to be the richest country per capita in the world.
That means the small, motivated embassy of three UK diplomats and our excellent Mongolian team, covers a huge range of work.
The UK and Mongolia have recently celebrated 55 years of diplomatic relations and, as Mongolia’s second largest trading partner, our trading relationship matters for both countries. To celebrate the 55th anniversary, we announced:
the appointment of Julian Knight MP as the Prime Minister’s Trade Envoy to Mongolia;
that UK Export Finance will increase how much it lends to support suppliers and buyers of UK exports to Mongolia.
Having fretted about meeting our export targets the excellent Department of International Trade team exceeded them.
Cambridge Mask Company’s initial consignment of pollution masks sold out within 24 hrs of the fashion show they were launched at, developing into a thriving collaboration with a Mongolian pharmacy chain.
The mask fashion show also means more people have started to wear effective masks – of whatever brand. The embassy has since taken this to the next level, focussing on supporting the poorer parts of Ulaanbaatar, where pollution levels often go off the international air-quality scale.
This is typical of our work in Mongolia – supporting UK trade is of course an essential part of what diplomats do around the world but the relationship between our two countries is about so much more than that.
We work with Mongolia in the UN Human Rights Council, Mongolian troops joined coalitions with ours in Kosovo, Iraq and Afghanistan, and Mongolian peacekeepers are currently working across Africa. UK expertise is supporting education reform and a UK funded mobile app and training for border guards is helping to counter the illegal wildlife trade (IWT) here.
The last had swift, positive results, including a 25-fold increase in detection of smuggled, endangered wolf-parts. The Mongolian Foreign Minister spoke powerfully about this at the recent major international conference on IWT, in London.
It’s true that supporting UK trade is important work for diplomats around the world and small embassies can have a big impact. The British Embassy Ulaanbaatar has helped UK companies in Mongolia to secure exports worth many times the total running and staff costs of our embassy.
But diplomacy works best when trade is one of many links between the UK and the countries we work in. A key task for diplomats is to fit together the people and pieces to make the UK’s presence overseas much more than the sum of its separate parts.
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Mongolia's economy to maintain positive growth next year www.xinhuanet.com
ULAN BATOR, Nov. 22 (Xinhua) -- Mongolia's economic growth has been recovering rapidly thanks to the recovery of commodity prices in the global market and the International Monetary Fund (IMF)'s economic bail-out program for the country, a Mongolian economic researcher said.
"Mongolia's main economic performance has been improving thanks to the combination of recovery of commodity prices in global market and the three-year Extended Fund Facility of the IMF approved in 2017," Jamsrandorj Delgersaikhan, associate professor with the University of Finance and Economics of Mongolia, told Xinhua in a recent interview.
"A recent report released by the National Statistics Office showed that Mongolia's GDP expanded 6.4 percent year on year in the third quarter of this year to 12.8 trillion Mongolian tugriks (about 5 billion U.S. dollars). This is a clear proof of the rapid economic growth," Delgersaikhan said, while expressing his optimism about the country's economic development next year.
"Commodity prices in the global market are expected to remain higher next year. This will give a further boost to Mongolia's economic growth," Delgersaikhan said.
The landlocked country's economy is heavily dependent on commodity exports.
However, domestic political conflict may cause risks to the economic growth, the researcher added.
"For any country, political stability is the basis of socio-economic development. Thus, our authorities should firstly create a stable political environment in order to promote economic growth, diversify the mining-dependent economy and reduce external risks to the economy," Delgersaikhan said.
Russian Foundation for Basic Research to partner in research field www.montsame.mn
Ulaanbaatar /MONTSAME/. In the frameworks of her official visit to the Russian Federation, Minister of Education, Culture, Science and Culture Ts.Tsogzolmaa held a meeting with the President of the Russian Foundation for Basic Research V.Ya.Panchenko.
During the 11 years that the foundation has worked in partnership with the Ministry and the Mongolian Academy of Sciences (MAS), 18 basic research works, 26 recommendations, 20 new and renewed research, 1,073 research articles and 679 presentations were done in scientific conferences.
The two sides came to the agreement to further develop joint research projects from 2019. With this, for instance, the funding for one project would be increased to RUB 1 million, alongside the duration of research being extended to 3 years, which will improve research results.
Large scale events are also to be organized in the coming year in partnership with the Ministry and MAS, which includes: a jointly seminar for Mongolian scholars and researchers on how a joint research project can be done by acquiring funds from the Russian Foundation for Basic Research as well as an international conference on the research on Lake Baikal and Lake Khuvsgul.
Three financial instruments to launch in capital market www.zgm.mn
Minj Property LLC, which is organizing its roadshow for a bond offering today, is planning on becoming a publicly traded firm. Along with the company, Ard Credit and Tumen Shuvuut have announced potential IPOs in upcoming months. Minj Property LLC is a construction firm that has implemented Park Town-1 project for 620 households in Darkhan-Uul aimag. A study that involved 600 households in need of accommodation in Darkhan city shows that 22 percent of surveyee are planning on purchasing new housing in the short-term. Because of the fact that 91 percent of accommodation in the city were constructed in 1990s, the demand for new housing stands high in Darkhan city. The province has over 100,000 population, of which working-age population account for 64 percent.
Thus, Mongolian Securities Exchange informs that these will act as guarantees for Park Town-2 project. The next financial instrument in the capital market is expected to be Ard Credit non-banking financial institution (NBFI). The company announced that they plan on raising MNT 5 billion from the stock market and have submitted necessary documents to the Financial Regulatory Commission (FRC) for approval. Simultaneously with Ard Credit, Tumen Shuvuut LLC notified the FRC for an IPO. The company, which runs a poultry farm, intends to raise MNT 10 billion within this year. This agribusiness with over 300,000 chickens annually supplies 60 million eggs to the domestic market and helps reduce import eggs to 40 percent, accounting for 30 percent of egg production and 20 percent of total egg market in Mongolia. Funding its operation from own assets and bank loans since the beginning, the company grew by 12 times since establishment.
Potential IPOs of Minj Property, Ard Credit and Tumen Shuvuut expected
Overall, five companies have offered 230 million units of shares and raised MNT 26.73 billion from IPOs this year. According to the FRC, a total of 304 publicly traded companies are operating nationwide. Analysts expect growing trend of entities going public, giving more options for investors in the domestic capital market. As for securities market, market capitalization grew 12.8 percent to MNT 2.35 trillion, which is 8.4 percent of 2017 year-end GDP as of the third quarter of this year.
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