1 MONGOLIA RECORDS USD 16.6 BILLION IN TRADE WWW.MONTSAME.MN PUBLISHED:2025/09/11      2 GOVERNMENT REPORTS OPERATIONAL IMPROVEMENTS AT ERDENES TAVANTOLGOI UNDER SPECIAL REGIME WWW.MONTSAME.MN PUBLISHED:2025/09/11      3 DIESEL LOCOMOTIVE CONVERTED TO HYBRID LOCOMOTIVE IN MONGOLIA WWW.RAILLYNEWS.COM  PUBLISHED:2025/09/11      4 MONGOLIA REVEALS ITS UNTAMED BEAUTY AND RICH CULTURE THROUGH THE EYES OF DUTCH TOURISTS ON AN UNFORGETTABLE ADVENTURE WWW.TRAVELANDTOURWORLD.COM  PUBLISHED:2025/09/11      5 ROBOTIC MILITARY DOG TRAINING FEATURED IN CHINA-RUSSIA-MONGOLIA BORDER DEFENSE EXERCISE WWW.NOVINITE.COM  PUBLISHED:2025/09/11      6 MONGOLIA DEPLOYS 15TH BATTALION’S SECOND CONTINGENT TO UN MISSION IN SOUTH SUDAN WWW.MONTSAME.MN PUBLISHED:2025/09/11      7 THE MONGOLZ RANKINGS RISE TO SECOND WORLDWIDE WWW.MONTSAME.MN PUBLISHED:2025/09/10      8 CHABOT MOBILITY JOINS MONGOLIA VOYAGER PROJECT TO EXPORT K-MOBILITY INFRASTRUCTURE WWW.BIZ.CHOSUN.COM  PUBLISHED:2025/09/10      9 "OYUT" COPPER DEPOSIT WITH 1.1 MILLION TONS OF PURE COPPER DISCOVERED WWW.GOGO.MN PUBLISHED:2025/09/10      10 CHINA-RUSSIA-MONGOLIA BORDER DEFENSE COOPERATION 2025 JOINT EXERCISE KICKS OFF WWW.ENG.CHINAMIL.COM.CN  PUBLISHED:2025/09/10      ЗАСГИЙН ГАЗРЫН WWW.D-GOV.MN ЦАХИМ СИСТЕМ ӨНӨӨДРӨӨС АЖИЛЛАЖ ЭХЭЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/11     ТӨМӨРТЭЙН ОВООНЫ ЦАЙРЫН ОРДЫН ТУСГАЙ ЗӨВШӨӨРЛИЙГ АЛБАН ТУШААЛТНУУД ХУВИЙН КОМПАНИДАА ШИЛЖҮҮЛЭН АВСАН ҮЙЛДЛИЙН УЛМААС ТӨРД УЧРУУЛСАН ХОХИРЛЫГ НЭХЭМЖЛЭХЭЭР БОЛОВ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/09/11     ТӨСВИЙН АЛДАГДАЛТАЙ АЛБАН ТУШААЛТНЫГ ЧӨЛӨӨЛНӨ WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/11     ДҮҮЖИН ЗАМЫН ТЭЭВЭР ТӨСӨЛД 2 ТЭРБУМААР ЗӨВЛӨХ ҮЙЛЧИЛГЭЭ АВНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/11     ИПОТЕКИЙН БАНК БАЙГУУЛАГДАХААС ӨМНӨ САНХҮҮЖИЛТИЙГ ЗАСГИЙН ГАЗАР РУУ ШИЛЖҮҮЛНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/09/10     Р.ЧИНГИСИЙГ ДОТООДЫН ЦЭРГИЙН ЕРӨНХИЙ КОМАНДЛАГЧААР ТОМИЛНО WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/10     БИРЖИЙН НҮҮРСНИЙ ЭКСПОРТ 739 МЯНГАН ТОНН БОЛЖ, ӨМНӨХ САРААС ХОЁР ДАХИН ӨСЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/10     “ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК НҮҮРС БАЯЖУУЛАХ ҮЙЛДВЭРЭЭС ГАРЧ БУЙ ХАЯГДАЛ НҮҮРСИЙГ ДАХИН БОЛОВСРУУЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/09/10     ХАЛЗАН БҮРЭГТЭЙН ОРДЫН АСУУДЛААРХ СОНСГОЛД ХОВДООС 50 ХҮН ОРОЛЦУУЛАХ ХҮСЭЛТ ГАРГАЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/09/10     “УЛААНБАДРАХ 300 МВТ ЦАХИЛГААН СТАНЦ” ТӨСЛИЙН ТЭЗҮ-ИЙГ МЭРГЭЖЛИЙН ЗӨВЛӨЛӨӨР ХЭЛЭЛЦҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/10    

Category

Events

Events

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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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Greece: EU and IMF in 'common position' www.bbc.com

 
German finance minister Wolfgang Schaeuble has said the institutions in charge of Greece's bailout have reached a "common position" on how to proceed.
His comments appear to indicate that deadlock between the EU and the International Monetary Fund over the next steps may have been resolved.
The IMF has said Greece needs more leeway to pay its huge debts before further rescue funds can be released.
However, the eurozone has been reluctant to go much further.
Arriving for a meeting of eurozone finance ministers in Brussels, Mr Schaeuble said: "I believe the institutions have a common position and that we will get to a point today where the technical mission can go to Athens so we can get a result."
The IMF said it was indeed sending a mission to Greece, but it was "too early to speculate" about whether some sort of agreement would be reached as a result.
It added: "More progress will be needed to bridge differences on other important issues."
No 'haircut'
In its most recent assessment of the Greek economy, the IMF said: "Greece cannot grow out of its debt problem. Greece requires substantial debt relief from its European partners to restore debt sustainability."
Eurozone governments have provided some debt relief already, in the form of lower interest rates and extended repayment periods. IMF staff think Greece needs more concessions.
However, the Fund has said there was no need for what it calls an "upfront haircut" - a reduction in the principal that has ultimately to be repaid.
In another development, the head of the European Stability Mechanism - the eurozone's bailout fund - said in a newspaper interview that Greece's finances were improving faster than expected.
Klaus Regling told Germany's Bild that Greece would probably need far less than the agreed maximum loan of 86bn euros (£73bn) by August 2018 as a result.
Athens has made a 2bn-euro repayment to the bailout fund as expected, which Mr Regling said showed "Greece is a reliable contract partner. It is a sign that the restructuring of the Greek banking sector is progressing well."
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Global weapons sales highest since end of Cold War www.rt.com

 
Over the last five years, the world trade in arms has reached a level not seen since 1990. The Middle East and Asia remain the key markets for weapons, according to a report from the Stockholm International Peace Research Institute (SIPRI).
 
India is still the world’s largest arms buyer, accounting for 13 percent of global imports between 2012 and 2016 against 9.7 percent the previous five years. The country bought most of its arms from Russia.
 
“While China is increasingly able to substitute arms imports with indigenous products, India remains dependent on weapons technology from many willing suppliers, including Russia, the USA, European states, Israel and South Korea,” said Siemon Wezeman, Senior Researcher with the SIPRI’s arms and military expenditure program.
 
Saudi Arabia, which leads a military intervention in Yemen, became the second biggest buyer of arms, followed by the United Arab Emirates, China, and Algeria, the study said.
 
The kingdom’s arms imports soared 212 percent compared to the previous five years, accounting for 8.2 percent of global weapons imports. Riyadh bought weapons mostly from the US and the UK, the report said.
 
All in all, arms imports by countries in the Middle East increased 86 percent in the five years through 2016 with Qatar increasing purchases by 245 percent. However, Iran, being under an arms embargo, received only 1.2 percent of total arms sales to the region.
 
The US remained the world's biggest arms exporter, accounting for 33 percent of all weapons sold in the five years through 2016, the study found. Russia is the second largest supplier, while China took third place.
 
“The US has delivered a lot of weapons in 2016, both very expensive weapons and strategically important weapons - missile systems, surveillance and navigation technology. The weight of the US in the global arms trade is so big that it's enough to shape the trend,” said Aude Fleurant, the director of SIPRI's arms and military expenditure program.
 
US and Russia together supplied more than half of all exports. China, France, and Germany were also among the top five exporters.
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Russia overtakes Saudi Arabia as world's top crude producer www.rt.com

 
Russia has once again taken the crown from Saudi Arabia as the world’s biggest oil producer. The two countries are global leaders in crude production by a wide margin, trading the top spot from time to time.
 
Russia produced 10.49 million barrels per day (bpd) in December, down 29,000 barrels a day from November. Saudi Arabia’s output dropped to 10.46 million bpd from 10.72 million bpd, according to Monday's data from the Joint Organizations Data Initiative in Riyadh.
 
This was the first time Russia became top producer since March 2016. Riyadh’s crude exports fell to eight million bpd from 8.26 million bpd in November, the biggest monthly slide since May 2003.
 
The United States is in third place, producing 8.8 million bpd in December. At the same time, America is neck-and-neck with China as the world's largest crude importer, buying 7.88 million bpd of crude last year.
 
The growth in US production mostly came from the Texas’ Permian Basin and Eagle Ford regions, which have better quality oil. However, local refineries can’t process it because they are geared to process poorer quality crude from Canada and Venezuela. The US producers export the higher quality oil and import what they need from abroad.
 
The Organization of the Petroleum Exporting Countries (OPEC) and oil producers outside the cartel led by Russia have agreed to prop up prices by cutting production by almost 1.8 million barrels per day during the first half of the year to curb a global oversupply.
 
On Monday, Brent crude was trading at $56.18 per barrel, while the US benchmark West Texas Intermediate rose to $53.69.
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"Accounting best practices" MBD Business mission to Sydney, Australia (Registration will be closed in 2 days) www.mongolianbusinessdatabase.com

Mongolian Business Database (MBD) is starting to register the Mongolian business delegates to "Accounting best practices" theme targeted business program jointly with Saki partners Australia www.sakipartners.com.au and Dr.Nigel Finch, Honorary Consul-General of Mongolia in Sydney.

The business program includes a half day special training seminar and Australian accounting and financial company visits.

The Australian Partner Dr. Finch is a Managing Director of Saki Partners, Chartered Accountant, a Chartered Tax Adviser and a Fellow of CPA. He is a member of the Representative Council of CPA Australia, a director of the Australia Mongolia Business Council and a director of several companies listed on the Australian Securities Exchange. He recently served as a Dean of Accounting Department of Sydney University.

For more information please visit the following link http://www.mongolianbusinessdatabase.com/base/eventsdetails?id=17 and register at contact@mongolianbusinessdatabase.com or by tel: 77109911 and 98994787.

The registration will be closed by February 22, 2017.

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IHI to unload Westinghouse stake www3.nhk.or.jp

 
Executives at struggling electronics maker Toshiba say they're going to buy all shares of their US nuclear-power subsidiary from major Japanese engineering firm IHI. Toshiba is predicting a loss of more than 6 billion dollars from its unit Westinghouse.
Toshiba will buy IHI's total stake, totaling 3 percent, for 157 million dollars in May.
Toshiba currently holds 87 percent of Westinghouse. Kazakhstan's state-run uranium mining company Kazatomprom has 10 percent.
IHI officials say the massive size of Toshiba's loss announced last week prompted them to ask Toshiba to buy them out to avoid any damage to their own business.
Toshiba purchased Westinghouse in 2006. It signed a contract with IHI at the time, stating it would purchase IHI's shares should the company want to unload them.
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Tax rates on vehicle, alcoholic products and tobacco to increase www.gogo.mn

Excise taxes on vehicle, alcoholic products and tobacco as well as social insurance premium and personal income tax will be increased starting 1st of April, 2017 in accordance with the Staff-Level Agreement between Mongolia and International Monetary Fund on Three-Year Extended Fund Facility. 
Vehicle excise duty will be increased by 3-15 percent depending on the engine capacity and aging.
Excise taxes rates on alcoholic products and tobacco will be added by 10 percent by 2018, 5 percent by 2019 and 5 percent by 2020. Customs tax on imported tobacco is now at 5 percent. Minister of Finance noted that the custom tax on tobacco is lower than limits set by the World Trade Organization and it shall be increased up to 30 percent. 
Interest income on personal savings accounts will be taxed from 1st of April, 2017. However it is unclear that whether the taxes will be imposed on all taxpayers or owners of savings more than MNT 100 million. 
In addition, social insurance premium rate will be risen by 2 percent by 2018, 1 percent by 2019 and 2 percent by 2020. Currently employee pay 10 percent and employer pay an average of 11 percent monthly for social insurance premium. Thus the rate will be increased to 12 percent next year.
Moreover IMF demanded to increase personal income tax rate by 10, 15, 20 percent depending on the amount of salary. Currently individuals pay 10 percent of PIT in Mongolia. However its effective date is unclear. 
During the negitiations with the IMF, authorities discussed whether to increase value added tax (VAT) rate. However it has decided not to add the VAT.

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Foreign Minister Ts.Munkh-Orgil visiting China www.montsame.mn

Ulaanbaatar /MONTSAME/ At the invitation of Minister of Foreign Affairs of the People’s Republic of China Wang Yi, Minister of Foreign Affairs of Mongolia, Ts.Munkh-Orgil is paying a visit to China between February 20 and 21.

During the visit, Ts.Munkh-Orgil is expected to hold an official talks with Minister Wang Yi, as well as other officials. According to the Ministry of Foreign Affairs of Mongolia, the Foreign Minister of Mongolia is planning to exchange views on the issues of Comprehensive Strategic Partnership, advancing and activating mutually beneficial relations in the leading sectors, undertaking cooperative agreements and determining the further directions of the collaboration. A discussion on the international and regional cooperation is also expected.

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Mongolia agrees economic bailout plan with IMF www3.nhk.or.jp

 
The International Monetary Fund has agreed to extend emergency loans to Mongolia.
 
Officials from the IMF and Mongolia say they have agreed on a 5.5-billion-dollar package.
 
This includes 440 million dollars in 3-year loans from the IMF. Japan, China, the Asian Development Bank and other entities will also give assistance.
 
In return, Mongolia is to rebuild its finances by adopting austerity measures and reviewing its tax system.
 
The country relies heavily on exports of coal, copper and other commodities.
 
Its economy is believed to have plunged to near-zero growth last year. Fears were rising that Mongolia could default without assistance.
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China won't buy any more North Korean coal this year www.mining.com

The economic noose is being tightened around North Korea's neck after the pariah regime ignored a United Nations resolution by testing a missile last week.

On Saturday North Korea's largest trading partner, China, reacted to the Feb. 12 test of a long-range ballistic missile by announcing a ban on coal from the rogue nation till the end of 2017.

CNN reported that the decision by the China's Ministry of Commerce, issued jointly with the country's customs agency, was made to comply with a UN Security Council resolution that China helped draft and pass in November. Resolution 321 imposed tough sanctions estimated to cost North Korea over $800 million a year, after it carried out its fifth nuclear test in September. Along with restricting the export of coal, the resolution also targets non-ferrous metals, statues and other luxury items like tapestries.

China's import ban on North Korean coal was supposed to be lifted in January but the missile test has meant that Beijing's coal ban will continue.

The dictatorship's export of coking coal – all of which goes to China – would be limited to 7.5 million tonnes this year, down nearly two thirds from the 2016 tally. But Beijing has in the past ignored some UN sanctions on the basis that it would hurt the civilian population of North Korea.

The DPRK has been under UN sanctions since 2006 over its nuclear and ballistic missile tests.

Grounding coal shipments to China is bound to hurt the North Korean economy, which relies on coal sales to generate hard currency to pursue, among other things, its nuclear and missile programs. However according to CNN the restrictions have a "silver lining", in that more electricity is now available to North Korea's population than previously – a fact that is evident by more lights on the Pyongyang skyline. The news network also quotes Ri Gi Song, a North Korean economist, saying that the coal export ban will not slow down North Korea's defense program, which has nuclear at its core.

If China does honour its coal import ban on North Korea for the rest of the year, it could affect the price of coking coal, which has fallen sharply of late.

Metallurgical coal is down more than $150 below its multi-year high of $308.80 per tonne hit in November.

Yet despite the pullback met coal is still trading at more than double multi-year lows reached this time last year. Coking coal averaged $143 a tonne in 2016 (about the same as it did in 2013). Consensus forecast is for the price to average about the same in 2017.

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The world’s top 10 highest-grade copper mines www.mining.com

“Grade is king”. This is very true, especially in today’s challenging mineral commodities market conditions. The grade of metal in ore is usually directly related to the ability of a particular mine to make money and be profitable.

All things being equal, a higher grade generally means lower production costs per ounce/pound/ton, making high-grade ore deposits a crucial consideration for mining investors. Mines that can provide good returns in any market environment are “the best of breed”.

While the copper market is gaining momentum, it is a good time to look at the copper mining champions in terms of copper grade in ore reserves.

Why have only reserves been taken into account? This is because a mineral reserve is the part of the mineral resource that has demonstrated economic viability in current market conditions. Therefore, ore reserves are much less speculative than ore resources and relatively precisely reflect changes in the economic “wellbeing” of mines.

The following analysis covers those currently active copper mining operations throughout the world that are separate reporting units and which have most recent reserves figures, calculated according to international standards and disclosed by the owners/operators after December 31, 2014.

For a more accurate comparison, copper operations have been split into underground and open-pit, since these mining methods utilize different techniques and equipment. In this research, the focus is on ore grade in reserves while putting aside other crucial parameters like ore tonnage and volume of metal contained in ore.

1. Cobre Las Cruces (CLC)

First Quantum’s CLC copper deposit is exceptionally rich, and with ore reserves grading 5% copper it is believed to be the highest-grade open-pit active copper mine worldwide. CLC is located approximately 20 kilometres northwest of the city of Seville and forms part of the Iberian Pyrite Belt, a mineral-rich area that stretches across the southwest of the peninsula. The mine uses leaching and electrowinning technology to produce copper cathode. The CLC Hydrometallurgical Plant is one of the most technologically advanced in the world for treating copper.

2. Kamoto Oliveira Virgule (KOV)

The KOV mine is part of Glencore’s Katanga operation located in the Democratic Republic of the Congo (DRC). KOV is believed to contain the largest high-grade open-pit copper reserve/resource in the world. Being slightly behind first-ranked CLC by copper grade in ore reserves, KOV is much bigger in terms of ore tonnage and contained metal. While operations at nearly all Katanga producing units are currently suspended by Glencore pending the completion of the Whole Ore Leach Project in 2017, KOV technically is the only mine still active.

3. Kinsevere

Kinsevere is a world-class copper mine located in DRC. Kinsevere was acquired by MMG in 2012 and is an important part of the company’s portfolio of high-quality base metals assets. Conventional mining methods are used at Kinsevere to remove waste material and extract ore. Due to ground conditions, most areas can be mined without blasting. Ore is hauled to the run of mine (ROM) stockpile while waste material is stockpiled on the surface or used on the walls of the tailings storage facility. With 3.5% copper grade in reserves, Kinsevere is the third-ranked copper mine on this list.

4. Sepon

Sepon is MMG’s open-pit copper mine located in Savannakhet Province, southern Laos. Sepon produces 99.9% copper cathode using a whole-of-ore leach, solvent extraction and electrowinning (SX-EW) process. Copper cathodes are transported via road and sea to manufacturers of cable, wire and tube in Asia and Europe. Sepon has 2.7% copper grade in reserves and holds fourth place in our list of highest-grade open-pit copper mines.

5. Antas

Avanco Resources’ Antas open-pit copper-gold mine is located in the Carajás mineral-rich province in northern Brazil. The Carajás region is regarded as one of the most prospective mineral provinces in the world for the discovery of high-grade large-tonnage copper-gold and iron ore resources. Antas is a high-grade, low-cost copper mine with gold byproduct credits and significant exploration potential. 2.5% copper grade in reserves puts this mine fifth on the list.

1. Sudbury

KGHM’s Sudbury operations are located on the western border of the richly-mineralized North Range of the Sudbury Igneous Complex in Ontario, Canada, about 400 km north of Toronto. The Sudbury Complex is a unique geological structure, being the site of a 1.85 billion-year-old meteorite impact crater. Today, Sudbury is one of the most productive mining camps with one of the richest and largest polymetallic deposits in the world. Minerals are extracted by some of the biggest mining companies, including KGHM, Vale and Glencore. With 7.9% copper grade in reserves, Sudbury leads the pack of richest underground copper mines. Although having very limited copper reserves, this copper operation is benefitting from the recent copper prices wave in the short term.

2. Kinsenda

Metorex’s Kinsenda underground copper mine is located in the Democratic Republic of Congo, near the border town of Kasumbalesa. The Kinsenda operation ranks as one of the world’s highest grade “rookie” underground copper mines in the world. Currently, Kinsenda is in transition from the development phase to commissioning and full-scale production. This mine has both high-grade and high-tonnage ore reserves/resources that put this operation well above its peers. With 4.8% copper grade in reserves, Kinsenda is the second highest-grade underground active copper mine.

3. DeGrussa

Sandfire’s DeGrussa copper-gold mine, located 900 km northeast of Perth in Western Australia, is one of the Asia-Pacific region’s premiere, high-grade copper mines. It only took three years for Sandfire to bring DeGrussa from discovery into production. Commencing with an initial two-year open pit mining operation which was completed in April 2013, the DeGrussa operation is based on a long-term underground mine delivering sulphide ore to an on-site 1.5 Mtpa concentrator. DeGrussa boasts 4.4% copper grade in reserves and 5.7% copper grade in resources.

4. CSA

Glencore’s CSA underground copper mine is located in Cobar, central-western New South Wales, Australia. The mine initially started in 1871 with an erratic production history until 1964, when Broken Hill South Ltd began large-scale production. Since 1965 the mine has extracted substantial quantities of zinc, lead, silver and copper, but today, CSA focuses on mining copper, with a silver co-product. The mine produces over 1.1 million tonnes of copper ore and in excess of 185,000 tonnes of copper concentrate per annum. The concentrate contains approximately 29% copper and is exported to smelters in India, China and Southeast Asia. With 4.3% copper grade in reserves, this mine holds fourth place in our list of highest-grade underground copper operations.

5. Reed

Hudbay Minerals’ Reed underground copper mine is in Manitoba, Canada. Reed is a small high-grade copper deposit that commenced initial production in September 2013 and achieved commercial production at the end of the first quarter of 2014. It is located 120 kilometres from Flin Flon, where ore is trucked to the Flin Flon concentrator for processing. 4.1% copper grade in reserves puts the Reed mine fifth on the list.

Data retrieved from the IntelligenceMine database. Experts since 1989, the IntelligenceMine team analyze mining news and hundreds of documents daily to keep you on top of global mining. Get access to more than 12,000 listed and private company profiles, 33,000 mines, projects and processing facilities and 1.6m regulatory and source documents. IntelligenceMine also provides powerful multi-faceted search with comparative result grids, sorting and download capabilities, an online interactive mapper and more.

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