1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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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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China's Inner Mongolia orders checks on all open-pit coal mines www.reuters.com

China's Inner Mongolia region on Friday ordered an inspection of all open-pit coal mines, according to a government notice.
The move comes two days after an open-pit mine in the region collapsed, killing at least six and leaving 47 missing.
Reporting by Dominique Patton; Editing by Christian Schmollinger
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Export Decreased by 22.8% Compared to the Previous Year www.montsame.mn

Mongolia traded with 107 countries worldwide in January 2023, and the total trade turnover reached USD 1.8 billion, of which exports were USD 1.1 billion and imports were USD 688.0 million.
The total foreign trade turnover increased by USD 669.5 (61.1%) million, where exports increased by USD 538.1 (99.7%) million and imports increased by USD 131.5 (23.6%) million compared to the same period of the previous year. In January 2023, exports decreased by USD 318.0 (22.8%) million, and imports decreased by USD 145.1 (17.4%) million compared to the previous month. The foreign trade balance was in surplus of USD 389.7 million in January 2023, which increased by USD 406.6 million compared to the same period of the previous year, while it decreased by USD 172.9 million from the previous month. Trade with China reached USD 1.2 billion in January 2023, accounting 66.8% of the total trade turnover.
Bituminous coal and copper concentrates accounted for 59.4% and 19.7% of total exports to China, respectively, while gold accounted for 99.9% of the export to Switzerland. Exports increased by 538.1 million US dollars in January 2023 from the same period of the previous year, mainly due to the increase of coal exports by 427.6 million US dollars, the export of zinc ore and concentrate by 25.0 million US dollars, and the export of iron ore and iron concentrate by 23.0 million US dollars respectively. In January 2023, the average border price of gold increased by USD 3.2 thousand per kilogram, the average border price of copper concentrates increased by USD 65.4 per ton, and the average border price of crude petroleum oils increased by USD 1.7 per barrel compared to the previous month. However, the average border price of coal decreased by USD 6.2 per ton.
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More than 180 arrested over collapsed buildings in Turkey quakes www.nhk.or.jp

Turkey's justice authorities are widening their probe into building collapses in the massive earthquakes that hit southern Turkey near the Syrian border. More than 180 people have been arrested so far.
It has been confirmed that the magnitude 7.8 earthquake on February 6, and subsequent quakes, killed at least 44,218 people in Turkey, and 5,914 in Syria.
Many victims were found in the debris of collapsed buildings.
Justice Minister Bekir Bozdag said on Saturday that 184 people suspected of responsibility for the collapse of buildings had been arrested.
Prosecutors in the Nurdagi district near the epicenter told NHK that the local mayor had been arrested over work carried out by a construction company he used to run.
Victims' relatives are angry.
At least 173,000 buildings in Turkey either collapsed or were damaged to such an extent that they need to be demolished.
Those who lost their homes are pursuing lawsuits.
 
 
 
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Oyu Tolgoi Underground Mine to be Opened on March 13 www.montsame.mn

The Prime Minister of Mongolia L. Oyun-Erdene reported during his interview with MNB that the opening ceremony of the Oyu Tolgoi underground mine would be held on March 13, 2023.
Noting the investor side's letter to write off Mongolia's USD 2.3 billion debt, for its share (34 percent) of Oyu Tolgoi owned by the Government of Mongolia, the Prime Minister of Mongolia said that further developments had been impossible to accomplish due to this 34 percent debt. This bottleneck has held up for over ten years and become one of the hottest political topics.
The opening ceremony of the OT underground mine will be a milestone in the history of Mongolia and the underground mine. Furthermore, it will also provide an opportunity to increase Mongolia's GDP two times. In other words, our future is on the bright side.
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58th Academy of American and International Law www.cailaw.org

SWIICL is seeing a greater number of applications for its 58th Academy of American and International Law, which will be held in Texas from May 29 to June 30, 2023. If you or someone at your firm or company is interested in attending the Academy, please submit an application as soon as possible. After March 1st, applications are only considered in the order they are received and only if space permits.
In addition, the Academy has changed hotels after many years at the same location. Although our prior hotel could accommodate late applications, the new hotel has a much earlier deadline and a limited number of rooms at our discounted rate. Therefore, it is critical to submit applications as soon as possible to obtain a room at the Academy hotel with other participants.
The Academy is an intensive five-week course of study is designed for non-US attorneys and legal professionals. The Academy focuses on U.S. and international laws related to international business and transactions, and broadly covers important principles of U.S. and international law.
To apply, complete the online registration form at the link at the end of this email. Applicants will be evaluated on their career, educational achievements, financial situation, and diversity they bring to the Academy. If you have any questions, please contact Ser-Od Ichinkhorloo Country Coordinator serod@b2bmongolia.com or/and (976) 99066062
 
 
 
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Mongolia, UK Celebrate 60th Anniversary of Diplomatic Relations www.thediplomat.com

This year marks the 60th anniversary of Mongolia and the United Kingdom’s establishment of diplomatic relations. In commemoration of this special occasion, the two governments are celebrating decades of shared principles, strengthening bilateral relations, and strong people-to-people ties.
On January 23, 1963, the United Kingdom became the first Western nation to establish diplomatic relations with Mongolia. During a ceremony commemorating the Mongolia-U.K. diplomatic anniversary, a former Mongolian ambassador to the U.K., Altangerel Bulgaa, highlighted London’s key role in opening diplomatic doors for Mongolia.
“The significance of Mongolia and the United Kingdom is that exchanging a diplomatic representative at an ambassadorial level with Western countries opened the door for trade and economic activities for Mongolia,” Altangerel said. “Equally important, France and other Western nations followed suit after Mongolia and the UK established diplomatic relations in 1963.”
Historical ties between Mongols and the British date all the way back to medieval times. The earliest recorded communiqué between the Mongols and the English is from the late 13th century, during Arghun Khaan’s reign. In 1290, an envoy of Arghun Khaan sent a letter to Edward I of England, indicating that the Mongol forces could support the crusaders in their battle.
Moreover, archival documents indicate the cultural and linguistic ties between the Mongols and the English. In the early 20th century, the English language had dominated the Western world, both language and thought influenced the intellectual circle of Bogd Khaan, Mongolia’s leader during its short-lived stint as an independent monarchy from 1911-1924.
According to Dr. Zolboo Dashnyam, the director at the Institute of International Studies of the Academy of Sciences of Mongolia, “When the Mongols drafted the first constitution, it seems that their English language abilities were not too bad, judging from the fact that they had studied and translated the constitutions of monarchies at the time, such as Great Britain.”
The long history of Mongol-British interactions demonstrate the consistency of the Mongols’ ambition to be more involved in global affairs – a tradition that modern-day Mongolia continued.
The 1960s was one of the most challenging yet ultimately rewarding decades for Mongolia’s international relations. Mongolia’s strong ties with the Soviet Union situated Ulaanbaatar in a challenging position, especially when it comes to establishing diplomatic relations with Western nations.
Thus the United Kingdom’s recognition of Mongolia as an independent state and the establishment of diplomatic relations was a significant milestone for Ulaanbaatar’s foreign policy. Two years earlier, in 1961, Mongolia had become a permanent member of the United Nations. As one of the permanent members of the U.N. Security Council, London’s vote was crucial to Mongolia in that effort.
Since 1963, bilateral relations between Mongolia and the United Kingdom have developed into a variety of sectors such as education, defense, mining, and recently, green initiatives.
The British education system has been adopted in Mongolia for some time. In Ulaanbaatar, the British School of Ulaanbaatar teaches students using the National Curriculum of England and Wales. Students graduate with fluent British English, and many seek to study abroad in the United Kingdom.
Moreover, the Chevening scholarship, funded by the U.K.’s foreign ministry, has directly benefited more than 200 Mongolian graduate students studying in British universities.
As Enkhjin Seded, a 2022 Chevening scholar, put it, “Studying at one of the prestigious universities in the U.K. seemed like a dream before receiving the Chevening scholarship. The Warwick Business School has been an eye-opening experience for me as I learn from professors with worldwide knowledge and experience. With Chevening, a new chapter of my life has begun.”
While educational cooperation has been successful, foreign trade, investment, and economic activities between Mongolia and the U.K. have been falling short due to many issues.
Trade and investment between the U.K. and Mongolia decreased by 52.8 percent from September 2021 to the same month in 2022. The COVID-19 pandemic certainly contributed to this sudden drop.
From Mongolia’s perspective, the unbalanced nature of trade is an issue. As of 2020, the U.K. was Mongolia’s fourth-largest export destination – but only accounted for 1.1 percent of Mongolian exports, worth just $84 million. Mongolia fared even worse in the United Kingdom’s trade books. It is the U.K.’s 133rd largest trading partner, “accounting for less than 0.1% of total UK trade,” according to U.K. government data.
The U.K.’s February 2023 Trade and Investment Report indicated that in the year leading up to the end of September, 2022, the U.K. exported nearly twice as many goods to Mongolia (at a value of 104 million pounds) as it imported from Mongolia (54 million pounds). There is a need for Mongolia to boost its exports to the United Kingdom to address the yawning trade deficit.
The Oyu Tolgoi operation run by Anglo-Australian mining conglomerate Rio Tinto is the United Kingdom’s largest contributor to Mongolia’s national economy. However, British investors and businesses remain uncertain about Mongolia’s business environment, particularly dispute resolution, corruption, and regulatory issues.
As British Ambassador to Mongolia Philip Malone told The Diplomat, “Legal certainty and the fair resolution of disputes in line with the law are high on the list of concerns for investors. The U.K. and Mongolia have a bilateral investment promotion and protection agreement which can provide a mechanism to support dispute resolution.”
But, he added, “It is a very challenging area and one the Mongolian authorities must address to realize the full foreign investor potential of Mongolia, particularly through ensuring a fully independent judiciary that is not subject to outside interference.”
In 2020, in an effort to accelerate Mongolia-U.K. trade, Member of Parliament Daniel Kawczynski was appointed as the British trade envoy to Mongolia. During the 2022 U.K.-Mongolia Business Forum, Kawczynski stated that the British government was issuing $3 billion in soft loans to U.K. companies to invest in Mongolia.
Beyond the economic sphere, on the occasion of the Mongolia-U.K. diplomatic anniversary, the two governments are upgrading their defense cooperation agreement, which has significance in augmenting Mongolia’s peacekeeping operations.
Malone, the ambassador, told The Diplomat that “our intention to renew the defense cooperation agreement with Mongolia” serves “to underline our commitment as a third neighbor. We have had a defense cooperation agreement with Mongolia for around ten years.
“A particular focus will be on supporting Mongolia’s peacekeeping deployments through training and capacity building and the U.K.’s participation in the annual Khaan Quest peacekeeping exercise.”
From Mongolia’s foreign policy perspective, peacekeeping operations and the successful implementation of the annual Khaan Quest exercise are major mechanisms to strengthen defense relations between Mongolia and its partners around the world.
Also, with the assistance of the British government, this year for the first time Mongolian personnel studied at the British Imperial Defense College.
The U.K. certainly holds a special place in Mongolia, not only as a third neighbor, but also for being the first Western nation to establish diplomatic relations with Mongolia. In the next 60 years, Mongolia and the U.K. are aiming to strengthen trade, investment, and education while expanding to newer sectors such as green initiatives.
GUEST AUTHOR
Bolor Lkhaajav
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.
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Steppe Gold building Mongolia's premier precious metals group and progressing ATO mine expansion plans www.proactiveinvestors.com

Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) has announced plans for a dual primary listing of its common shares on the Main Board of the Stock Exchange of Hong Kong Limited (HKEx), the premier listing venue for Asia-based companies.
The Mongolia-focused gold miner, which is currently listed on the Toronto Stock Exchange, said the Hong Kong listing is anticipated to occur later in 2023.
In a statement, Bataa Tumur-Ochir, president and CEO of Steppe Gold, commented: "With approximately 40% of Steppe Gold's shareholders now based in Asian time zones, the company has decided to pursue a dual primary listing on the Main Board of the Hong Kong Stock Exchange in 2023.”
The company said the Hong Kong listing will assist with historical liquidity and valuation issues and will also serve as a better venue for trading for its Asian-based shareholders, as Hong Kong and Mongolia are in the same time zone.
“With listings on both the Toronto Stock Exchange and HKEx, Steppe Gold will have a wider reach, offering greater accessibility and exposure to a broader pool of investors from both Asia and North America,” said Tumur-Ochir.
“As one of only a few companies in the mining and precious metals sector listed on the HKEx upon successful listing, Steppe Gold will be further differentiated, with increased visibility, making it an attractive opportunity for investors seeking investment opportunities in this sector," he added.
Contact the author at jon.hopkins@proactiveinvestors.com
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Mine collapse in China kills five, 48 miners still missing www.reuters.com

BEIJING, Feb 23 (Reuters) - At least five people were killed and 48 others were still missing a day after the collapse of a coal mine in China's northern region of Inner Mongolia, state media reported on Thursday.
The open-pit mine operated by small local firm Xinjing Coal Mining Co collapsed in a landslide, leaving dozens of workers buried under a huge pile of debris half a kilometre (550 yards) wide and an estimated 80 m high, according to state broadcaster CCTV.
Dramatic security camera footage aired on CCTV on Thursday showed an avalanche of rock and soil falling from one side of the mountain into the mine pit, burying a number of excavators and dump trucks.
Three hundred rescue workers were at the site using heavy machinery and rescue dogs to aid in their search for the trapped miners, state media said.
The National Health Commission said on Wednesday evening that six injured people had been rescued from the mine.
"I had just started work at 1:15 in the afternoon when I realised that rocks were falling from the mountain," a hospitalised miner told CCTV on Thursday.
"I saw that the situation was getting more and more serious, and an evacuation was organised, but it was too late, the mountain just collapsed."
Coal is a major source of energy in China but its mines are among the world's deadliest, largely due to lax enforcement of safety standards, despite repeated government orders for improvements in safety over the years.
President Xi Jinping on Wednesday ordered search and rescue efforts, state media reported, although a second landslide in the evening hampered the work to find survivors.
"We must make every possible effort to rescue the missing persons and treat the injured," Xi said.
Premier Li Keqiang also demanded a quick investigation into the cause of the collapse.
Local governments in several regions, including Inner Mongolia, Shanxi and Shaanxi, have ordered coal miners, especially open-pit mines, to immediately conduct safety checks and local authorities to carry out inspections following the collapse.
China's mines have been trying to boost output over the past year under a government call for greater supplies and stable prices. The government is estimated to have approved 260 million tonnes of new coal mining capacity in 2022. Inner Mongolia is the country's top coal-producing region.
The mine near the town of Alxa League was previously an underground mine. It was converted into an open-pit operation in 2012, according to state media. It had suspended production for three years before restarting in April 2021, state media added, though it did not provide further information regarding the cause of the closure.
Reporting by Andrew Hayley, Chen Aizhu, Bernard Orr and the Beijing newsroom; Editing by Jason Neely, Shounak Dasgupta, Tom Hogue and Raissa Kasolowsky
 
 
 
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Mongolian Rescue Team Returns Home www.montsame.mn

On February 18, the Mongolian rescue team returned home after a week of search and rescue operations in Turkey, which was hit by massive earthquakes last week.
The team successfully rescued eight people /three children/ and found 19 bodies buried under rubble. The search and rescue dogs Balu and Malta have successfully aided operations in detecting people.
Colonel J. Sukh-Ochir and his army medic team of 11 military doctors gave first aid and saved 72 children and 649 adults. (359 males, 218 females)
Moreover, humanitarian aid was also successfully delivered from the people of Mongolia to Turkey.
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GDP of Mongolia Increased by 4.8 Percent www.montsame.mn

In 2022, by preliminary estimation of production approach, Gross Domestic Product (GDP) at current prices was MNT 52.9 trillion, which is increased by MNT 9.3 trillion (21.4%) compared to the previous year. GDP at 2015 constant prices was MNT 28.4 trillion, which is increased by MNT 1.3 trillion (4.8%) compared to the previous year.
According to the National Statistics Office of Mongolia, GDP at 2015 constant prices decreased by 4.6% in 2020 but increased by 1.6%, 4.8 in 2021, and 2022. In the fourth quarter of 2022, seasonally adjusted GDP at 2015 constant prices increased by 3.2% compared to the previous quarter.
To 4.8% increase in GDP at 2015 constant prices in 2022,
agriculture sector contributed 1.7 percentage points,
mining and quarrying sector contributed -1.6 percentage points,
industry and construction sectors contributed 0.8 percentage points,
service sector contributed 2.6 percentage points and
net taxes on products contributed 1.4 percentage points.
The value added of mining and quarrying sector at 2015 constant prices was MNT 3.3 trillion, which is decreased by MNT 440.0 billion (11.9%) compared to the previous year. This decrease was mainly due to 26.9% decrease in extraction of iron ore, concentrate and 45.0% decrease in extraction of crude oil compared to the previous year.
The value added of the industry and construction sector at 2015 constant prices was MNT 4.0 trillion, which is increased by MNT 228.7 billion (6.1%) compared to the previous year.
This increase was mainly due to 7.9% increase in value added of construction sector and 6.3% increase in value added of manufacturing sector compared to the previous year.
The value added of the service sector at 2015 constant prices in 2022 was MNT 13.3 trillion, increased by MNT 699.8 billion (5.5%) compared to previous year. This increase was mainly due to 8.0% increase in value added of wholesale and retail trade, and 6.9% increase in value added of communication and information sector, compared to the previous year.
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