Currently, the two central banks have RMB 15 billion swap line, maturing in 2017. It is expected that the maturity will be extended to 2020 by the agreement.

The central banks first entered into the swap arrangement in 2011 with RMB 5 billion. The swap line was expanded two times in 2012 and 2014 to RMB 15 billion.

Although Chinese demand for coking coal, or metallurgical coal – a key steelmaking ingredient – has recovered, infrastructure constraints in Mongolia, particularly a lack of rail capacity continues to cause 'bottlenecks' and delays in getting product to markets, said David Paull, managing director of ASX-listed Aspire Mining Ltd.

In the longer term, China's efforts to re-invent the Silk Road trading route for the modern era, connecting Asia to the Middle East and Europe will shift the balance.

"One Belt, One Road and investment in Mongolian rail will provide capacity, allowing greater penetration of the Chinese and Russian markets 'and eventually Eastern Europe," Paull told CNBC in a telephone interview on Feb. 21st.

Despite the longer-term appeal of new growth markets, Mongolian-focused miners like Aspire remain cautious.

"The coking coal market certainly has stabilized," Paull said. "The capital markets were completely closed to us" during the depths of the commodity price collapse in 2014.

"We reduced ourselves to a skeleton crew to keep ourselves in the game. We're still very much in that mode but more confident in sources of funding if you can point to the fact you can move to the development stage quickly."

In the near term, China's ban on North Korean coal imports is boosting demand for Mongolian coking coal, said Thomas Hugger, founder and CEO of Asia Frontier Capital. "Naturally, Mongolia should be the main beneficiary of this." (CBSN)

Though it is clear that the Parliament has to call irregular session to discuss the budget amendments, the date of the session has not been announced yet. Sources said, the irregular session of the Parliament would be called most probably soon after the Lunar New Year-Tsagaan Sar.

B.Garamgaibaatar is one of the major debtors to the Development Bank of Mongolia. N.Batbayar, then Minister of Economic Development was arrested on charge of abuse of power and embezzlement of Samuria and Chinggis bonds.