1 STATEMENT BY BATSETSEG BATMUNKH MINISTER OF FOREIGN AFFAIRS OF MONGOLIA (ON HER SOCIAL MEDIA PLATFORMS) WWW.MONGOLIANBUSINESSDATABASE.COM PUBLISHED:2025/06/17      2 MONGOLIA ISSUES E-VISAS TO 11,484 FOREIGNERS IN FIRST 5 MONTHS WWW.XINHUANET.COM PUBLISHED:2025/06/17      3 CURRENT REGULATIONS ON THE RENEWABLE ENERGY LAW OF MONGOLIA AND INVESTMENT OPPORTUNITIES WWW.MONDAQ.COM PUBLISHED:2025/06/17      4 IMF COMPLETES PRELIMINARY ASSESSMENT OF FISCAL OUTLOOK WWW.UBPOST.MN PUBLISHED:2025/06/17      5 MONGOLIA TO COOPERATE WITH THE UNITED KINGDOM IN THE FIELD OF MINERAL RESOURCES WWW.MONTSAME.MN PUBLISHED:2025/06/17      6 NORTH KOREA'S PREMIER SENDS CONGRATULATORY MESSAGE TO NEW MONGOLIAN LEADER WWW.KOREAJOONGANGDAILY.JOINS.COM PUBLISHED:2025/06/17      7 RESPONSIBLE BUSINESS CONDUCT FOR SUSTAINABLE INFRASTRUCTURE IN KAZAKHSTAN, MONGOLIA AND UZBEKISTAN WWW.OECD.ORG PUBLISHED:2025/06/17      8 CONSTRUCTION OF GASHUUNSUKHAIT–GANTSMOD PORT RAILWAY BEGINS WWW.GOGO.MN PUBLISHED:2025/06/16      9 EVERYONE’S FRIEND: HOW MONGOLIA STAYS ON GOOD TERMS WITH RUSSIA, CHINA AND WESTERN POWERS WWW.IRISHTIMES.COM PUBLISHED:2025/06/16      10 RECONSTRUCTION OF KHARKHORIN CITY BEGINS WWW.MONTSAME.MN PUBLISHED:2025/06/16      МЭДЭГДЭЛ: МОНГОЛЫН УЛСЫН ГАДААД ХЭРГИЙН САЙД Б.БАТЦЭЦЭГ WWW.MONGOLIANBUSINESSDATABASE.COM НИЙТЭЛСЭН:2025/06/17     ЭНЭ ОНООС 105,627 ӨРХИЙГ ШАТДАГ ХИЙН ТҮЛШИНД ҮЕ ШАТТАЙГААР ХОЛБОХООР ТӨЛӨВЛӨЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/17     САРЫН ДУНДАЖ ЦАЛИН 2.6 САЯ ТӨГРӨГ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/17     “ДОРНОД УРАН” ХХК ШИНЭЭР БҮРТГЭГДЭЖ, МАРДАЙН УРАНЫ ТӨСЛИЙН БЭЛТГЭЛ АЖИЛ ЭХЭЛЛЭЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/17     ХӨРӨНГИЙН БИРЖИЙН ДУРСГАЛТ БАРИЛГЫГ 184 САЯАР ЗАСНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/06/17     МОНГОЛТОЙ ИЖИЛ НӨХЦӨЛТЭЙ КАЗАХСТАН УРАН ОЛБОРЛОЛТООР ДЭЛХИЙД ТЭРГҮҮЛЖ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/17     "ЭРДЭНЭС ТАВАНТОЛГОЙ" ХК ХАРХОРУМ ХОТЫН 410ГА ТАЛБАЙД 300 МЯНГАН МОД ТАРИНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/06/17     THETIMES.COM ДЭЭРХ "В.ПУТИНИЙ ХАМСААТАН ЕРӨНХИЙЛӨГЧ НЬ ЕРӨНХИЙ САЙДАА ОГЦРУУЛЛАА" ГЭСЭН НИЙТЛЭЛ ЗАХИАЛГАТ БАЙВ УУ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/16     1 М.КВ ТАЛБАЙ СҮХБААТАР ДҮҮРЭГТ ХАМГИЙН ӨНДӨР БУЮУ 5.49 САЯ ТӨГРӨГИЙН ХАНШТАЙ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/16     ШИНЭ ХАРХОРУМ ХОТЫН БҮТЭЭН БАЙГУУЛАЛТ АЛБАН ЁСООР ЭХЭЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/16    

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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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Iron ore price: Downside risks are building www.mining.com

 
The import price of 62% Fe content ore at the port of Tianjin drifted lower to trade at $58.80 per dry metric tonne on Monday according to data supplied by The Steel Index.
 
Against most predictions, year to date the price of the steelmaking raw material is up 37% and has surged nearly 60% since hitting near-decade lows in December.
 
China, which consumes more than 70% of the world's seaborne iron ore trade, imported 88.4 million tonnes in July, the highest since December. Shipments for the first seven months are now up 8.1% from 2015's record setting pace and on track to breach 1 billion tonnes for the first time.
 
Inventories at China's major ports have climbed substantially from mid-year 2015 and recently came close to the record 111 million tonnes hit in the second half of 2014 before stabilizing around the 100 million tonne level.
 
Chinese demand for cargoes may ease towards the end of the year and downside expectations for the iron ore price are rising, despite solid manufacturing data from the region according to a new report from the Singapore Exchange:
 
"Steel demand uncertainties have gradually been rising for the months ahead.
 
"On the one hand, improved steel demand from both the real estate and infrastructure sectors are likely to help provide a floor to steel prices.
 
"On the other hand, the Chinese central government appears reluctant to unleash more major short-term stimulus and, as expected, focus on structural reforms has been increasing.
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Japanese automakers eye Africa as next frontier www.asia.nikkei.com

NAGOYA -- Japanese car companies are broadening their footprints in the fledgling African automobile market, which is set to double within the next decade.
 
Toyota Motor will spend roughly 44 billion yen ($425 million) at a plant in Durban, South Africa. The funds will enhance production lines for the Innovative International Multi-purpose Vehicle project, or IMV project, which strategically targets emerging markets.
 
Toyota will gradually switch over to new versions of IMV vehicles for the first time in 11 years. The company will boost annual output of the Hilux pickup truck and other vehicles from 120,000 units a year to 140,000. These will be sold in South Africa as well as elsewhere on the continent and in Europe.
 
The Durban plant has raised annual output capacity for the HiAce van by about 40% to 13,000. The commercial vehicle is in high demand, since it can serve as a minibus. Toyota is fabricating more pressed parts locally because the weak South African currency is driving up costs for importing components.
 
Nissan Motor is stepping up sales in South Africa under the Datsun brand, which was revived for developing markets. The company has some 90 Datsun dealerships in-country, triple the 2014 figure. By expanding its presence in the continent's largest market, Nissan aims to boost its African share from the roughly 7% of 2014 to 10% in the fiscal year ending March 2017.
 
Japanese commercial-vehicle manufacturers are also expanding Africa operations, eyeing infrastructure projects made possible by official development assistance and other economic aid from Japan. Hino Motors will start selling trucks in Ivory Coast in 2017. Mitsubishi Fuso Truck and Bus has officially launched a new heavy-duty truck in Kenya. The TV 3340S Tractor cab was developed by German parent Daimler, and plans are to sell it in neighboring countries as well.
 
Some 1.55 million vehicles were sold in Africa in 2015, shows data from the International Organization of Motor Vehicle Manufacturers. This represents an 8% drop amid factors including softening commodity prices. Africa accounts for only 2% of the global market.
 
But sales have still grown nearly 40% over a decade. Rising income levels are expected to lift sales even further. U.S. market research firm Frost & Sullivan forecasts sales of up to 3.26 million vehicles in 2025, double the 2016 estimate. This would put the African market roughly on a par with Germany's present scale.
 
However, "the African economy is swayed sharply by swings in crude oil and mineral prices, which significantly impacts the automobile market," warned Takashi Morimoto, senior consultant at Frost & Sullivan.
 
Few parts manufacturers are setting up shop in Africa, forcing Japanese automakers there to rely heavily on imports. This exposes them to foreign exchange fluctuations, and weaker developing-country currencies stand to hurt profitability.
 
Strikes are also frequent in South Africa and other countries with strong unions, making stable labor-management relations a must. Shifting tax codes and competition from used vehicles also pose challenges.
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China's Shanxi gives coal firms $142 million for capacity cuts www.asia.nikkei.com

SHANGHAI (Reuters) -- The northern Chinese province of Shanxi, the country's biggest coal producing region, has awarded 947.78 million yuan ($142 million) to six major coal enterprises this year for shutting down surplus capacity, one of the firms said late on Monday.

In a notice to the Shanghai Stock Exchange, Datong Coal Industry Co. Ltd said it alone had received 312.16 million yuan from the provincial government after shutting down three mines with 3.75 million tonnes of annual production capacity.

China vowed in February to close 500 million tonnes of coal production in the coming three to five years in a bid to tackle an annual capacity surplus amounting to more than 2 billion tonnes. The country plans to close 250 million tonnes of coal production in 2016 alone.

The industry ministry said the country would provide 100 billion yuan this year to help handle layoffs in the coal and steel industries. According to China's Ministry of Finance, a total of 30.7 billion yuan had already been allocated by August this year.

Shanxi produced 944.1 million tonnes of coal last year, amounting to 25.6 percent of the national total. The province cut output by 68.8 million tonnes, or 14.9 percent, in the first half of the year, according to the local government.

Its efforts to curb output have been a key factor in the recovery in coal prices this year, with prices of thermal coal at the key northern port of Qinhuangdao <SH-QHA-TRMCOAL> rising by more than a third since the end of 2015.

According to the official Xinhua news agency, central China's Henan province also plans to award 2.18 billion yuan to encourage its coal and steel producers to slash capacity this year. The funds will be used to help pay for layoffs.

The province aims to cut 62.54 million tonnes of coal capacity and 2.4 million tonnes of crude steel capacity this year.

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Bankrupt Hanjin seeks court protection for its ships www.bbc.com

 
Troubled shipping giant Hanjin plans to seek court protection to prevent its ships from being seized by creditors.
South Korea's financial regulator said the company wanted to file for bankruptcy protection in more than 40 countries to protect its fleet.
Under bankruptcy protection a firm can reorganise its debts and block assets from being seized.
According to Hanjin, 68 out of its fleet of 141 ships have been stranded since the firm's collapse last week.
Several ships have already been seized in ports.
Hanjin cargo fleet stranded at sea
Hanjin last week filed for receivership in South Korea after attempts to raise fresh funding for the indebted firm failed.
On Friday, the firm had filed for bankruptcy protection in the US, a spokeswoman said on Monday, which would help protect its ships from being seized in US ports where many of the ships from Asia are heading.
The world's seventh-largest container line has been unprofitable for four of the last five years.
The global economic downturn in recent years years severely affected profits across the cargo shipping industry.
Fierce competition and falling prices have lead to a $5.4bn (£4.1bn) debt for Hanjin before its creditors refused to offer a new lifeline.
Hanjin shares plunged 30% when they resumed trading on Monday, but then recovered.
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China's service sector expands faster: index www.chinadaily.com

 
BEIJING - Business activity in China's service sector accelerated slightly in August, a private survey showed Monday.
 
The Caixin China General Services PMI (Purchasing Managers' Index) came in at 52.1 in August, up from 51.7 in July, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd.
 
A reading above 50 indicates expansion, while a reading below 50 represents contraction.
 
The surveyed companies partly linked higher business activity to new projects.
 
The sector's staff numbers stabilized in August after a marginal reduction in July, as some service providers hired additional employees to help with new projects, the survey showed.
 
Compared with the previous six months, service companies were more optimistic about their business outlook for the next 12 months, citing expectations of improving market conditions and new business development.
 
The Caixin China General Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in more than 400 service companies.
 
The Caixin General China Manufacturing PMI, an indicator of factory activity, dropped to 50 in August from 50.6 in July, according to data released last week.
 
"Overall, the economy continued to expand in August at a pace similar to July, but conditions in the manufacturing and service sectors diverged again," said Zhong Zhengsheng, director of macroeconomic analysis at CEBM Group.
 
Downward pressure on China's economy remains and supportive policies must continue, Zhong said.
 
China is counting on growth in services to offset weakness in manufacturing and exports.
 
The country's economy expanded 6.7 percent in the second quarter, still within the government's target range of 6.5-7 percent for 2016.
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Bankrupt Hanjin seeks court protection for its ships www.bbc.com

Troubled shipping giant Hanjin plans to seek court protection to prevent its ships from being seized by creditors.
South Korea's financial regulator said the company wanted to file for bankruptcy protection in more than 40 countries to protect its fleet.
Under bankruptcy protection a firm can reorganise its debts and block assets from being seized.
According to Hanjin, 68 out of its fleet of 141 ships have been stranded since the firm's collapse last week.
Several ships have already been seized in ports.
Hanjin cargo fleet stranded at sea
Hanjin last week filed for receivership in South Korea after attempts to raise fresh funding for the indebted firm failed.
On Friday, the firm had filed for bankruptcy protection in the US, a spokeswoman said on Monday, which would help protect its ships from being seized in US ports where many of the ships from Asia are heading.

The world's seventh-largest container line has been unprofitable for four of the last five years.
The global economic downturn in recent years years severely affected profits across the cargo shipping industry.
Fierce competition and falling prices have lead to a $5.4bn (£4.1bn) debt for Hanjin before its creditors refused to offer a new lifeline.
Hanjin shares plunged 30% when they resumed trading on Monday, but then recovered.

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Japan's central bank chief expresses confidence in Chinese economy www.xinhuanet.com

TOKYO, Sept. 5 (Xinhua) -- Bank of Japan Governor Haruhiko Kuroda said Monday that the Chinese economy will keep growing steadily due to the positive measures taken by the government, Japan's Kyodo News reported.
 
Kuroda made the remarks here in Tokyo after delivering a speech regarding Japan's monetary policy.
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Coal India pushes into solar www.mining.com

Coal India is diversifying its core business through a plan to install 600 megawatts of solar power in four states.

The announcement, published on Sunday by Economic Times, is part of an agreement with the Solar Energy Corporation of India (SECI) to build 1,000 megawatts of solar capacity throughout the country between 2014 and 2019.

"In the first phase, CIL is going to set up 2×100 MW solar power plants in the state of Madhya Pradesh. In the second phase CIL is going to develop a capacity of 600 MW in the solar parks of Madhya Pradesh, Chhattisgarh, West Bengal and Maharashtra for which NIT [Notice Inviting Tender] has already been floated by SECI," the world's largest coal producer said in its annual report.

India is the third-largest producer of coal, behind China and the U.S. Yet it relies heavily on imports because of mismanagement and an onerous bureaucracy in coal exploration, production and power generation. As a result, nearly a quarter of India's 1.2 billion people have no electricity, according to the World Bank.

The Indian government is well aware of the problem and has been actively pushing to not only produce more coal domestically, but also to diversify its energy mix.

“The world must turn to (the) sun to power our future,” Prime Minister Narendra Modi said at the 2015 COP21 climate conference. “As the developing world lifts billions of people into prosperity, our hope for a sustainable planet rests on a bold, global initiative.” That plan is to derive 40 percent of its energy from renewable sources by 2030, including 100 GW of solar energy by 2022. The target is ambitious, since India currently only has about 8 GW of installed solar.

However strides are being made. A new report by Mercom Capital Group says that India is likely to install 4.8 GW of solar capacity in 2016. The clean energy communications and research firm also said the solar project pipeline in India is now about 21 GW, with 14 GW under development and 7 GW scheduled to be auctioned, as reported Sunday by Economic Times.

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China, U.S. commit to refrain from competitive currency devaluations www.reuters.com

(Reuters) - China and the United States on Sunday committed anew to refrain from competitive currency devaluations, and China said it would continue an orderly transition to a market-oriented exchange rate for the yuan CNY=CFXS.

A joint "fact sheet", issued a day after U.S. President Barack Obama and his Chinese counterpart Xi Jinping held talks, also said the two countries had committed "not to unnecessarily limit or prevent commercial sales opportunities for foreign suppliers of ICT (information and communications technology) products or services".

While China and the United States cooperate closely on a range of global issues, including North Korea's disputed nuclear program and climate change, the two countries have deep disagreements in other areas, like cyberhacking and human rights.

Both countries said they would "refrain from competitive devaluations and not target exchange rates for competitive purposes", the fact sheet said.

Meanwhile, China would "continue an orderly transition to a market-determined exchange rate, enhancing two-way flexibility. China stresses that there is no basis for a sustained depreciation of the RMB (yuan). Both sides recognize the importance of clear policy communication."

China shocked global markets by devaluing the yuan in August 2015 and allowing it to slip sharply again early this year. Though it has stepped in to temper losses in recent weeks, the currency is still hovering near six-year lows against the dollar.

Xi and Obama met in Hangzhou in eastern China where leaders from the world's 20 leading economies, the G20, were gathering for a summit on Sunday and Monday.

Foreign business groups say China's pending cyber rules, including a cyber security law that could be passed this year, include provisions for invasive government security reviews and onerous requirements to keep data in China.

They say the regulations would create barriers to market entry for foreign companies and impair the country's security by isolating it technologically.

Global business groups spanning finance, information technology, insurance and manufacturing have urged China to revise its draft rules, and have pressed the U.S. government to raise the issue with Beijing.

The fact sheet said the two sides had committed to policies that "should treat technology in a non-discriminatory manner (and not) unnecessarily limit or prevent commercial sales opportunities for foreign suppliers of ICT products or services".

Other points from the fact sheet:

- Both sides commit to use all policy tools – monetary, fiscal and structural – to foster confidence and strengthen growth; fiscal policy should be used flexibly to strengthen growth, job creation and household demand.

- Building on current progress, China is to deepen supply-side structural reforms with a comprehensive strategy, including state-owned enterprise reform, giving full play to the role of the market and legal mechanisms, to reduce corporate debt, including SOE debt.

- The two sides recognize that structural problems, including excess capacity in some industries, have caused a negative impact on trade and workers; both countries recognize that excess capacity in steel and other industries is a global issue which requires collective responses.

- Both sides recognize that the effective and balanced protection of intellectual property rights will be beneficial to promote innovation. 

- They welcome the completion of peer review reports on the fossil fuel subsidies of the United States and China.

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“Invest Mongolia” international conference starts www.mongola.gogo.mn

Invest Mongolia International Conference starts at Shangri-La Hotel, Ulaanbaatar, with a key theme “Infrastructure development of Mongolia”.
Right now panel on the current economy and the Action Plan by the Government for the next four years commences. The panelists will discuss topics below. 
The current economic and budget situation in Mongolia
Priorities and Actions of the new Government in the next 4 years
The maturities of the huge sovereign debt in 2017 and its outlook of repayments
What else need to be done by the Government to satisfy foreign sovereign debt investors?
Pros and cons of relying on IMF
How to get financing internationally on growth area with priorities like Green Development, Renewable energy etc.
Panelists: N.Enkhbayar, Economic Advisor to the Prime Minister, Ch.Khaschuluun, CEO of Mongolia Oil Shale Association, Terrence Ortslan, Manging director, TSO & Associates, Bill Bikales. CEO, Bikales Advisors, A.Undraa, Parliament member.
The panel is being moderated by Graeme Knowd, Managing Director, Moody`s Investors Service.
In addition, panel on Mongolian banking industry and Bank strategies and Chamber`s panel are scheduled for today.

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