1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

Category

Events

Events

Name organizer Where
MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

64x64

Snow, dust storms sweep parts of Mongolia www.xinhuanet.com

Snow and snowstorms are now hitting central parts of Mongolia, including capital Ulan Bator and Tuv province, the country's weather monitoring agency said Saturday.
Meanwhile, strong wind and dust storms are sweeping through eastern provinces and southern Gobi parts of the country, the agency said in a statement.
The unstable weather is expected to continue during this weekend, it said, urging the public, especially nomadic herders and drivers, to take extra precautions against possible disasters.
In addition, large parts of Mongolia are expected to see extreme cold weather in the coming days, it said, noting that overnight temperature is expected to drop to minus 30 degrees Celsius in western and northern provinces of the country.
Mongolia has a harsh continental climate as strong winds, snow and dust storms are common during the spring.
 
 
 
...


64x64

Rio Tinto, First Quantum partner to move La Granja copper project in Peru to development www.mining.com

Rio Tinto (NYSE, ASX: RIO) announced it has reached an agreement with First Quantum Minerals (TSE: FM) to form a joint venture to unlock the development of the La Granja copper project in Peru, one of the largest undeveloped copper deposits in the world.
La Granja is a complex orebody located at high altitude in Cajamara, northern Peru, that has the potential to be a large, long-life operation, with a published indicated and inferred mineral resource totalling 4.32 billion tonnes at 0.51% copper, Rio said.
First Quantum will acquire a 55% stake in the project for $105 million, and commit to further invest up to $546 million into the joint venture to sole fund capital and operational costs to take the project through a feasibility study and toward development. The transaction is expected to complete by the end of Q3 2023.
As majority owner, First Quantum will then operate the La Granja project with initial work focussed on completing the feasibility study.
Rio Tinto acquired the La Granja project from the government of Peru in 2006 and has since carried out an extensive drilling program that expanded the declared resource and understanding of the orebody, and established partnerships with host communities, local and national governments.
La Granja currently ranks as the fourth largest copper project in the world, and Peru is the world’s second biggest copper producer.
“La Granja is an exciting but complex project that has the potential to be a significant new source of the copper that is needed for the energy transition,” Rio Tinto Copper chief executive Bold Baatar said in the statement. “We are pleased to enter into this agreement with First Quantum, that will bring our combined development capabilities and deep knowledge of La Granja to progress the project.”
Baatar added that developing La Granja would also further strengthen Rio Tinto’s copper portfolio following the acquisition of Turquoise Hill Resources and beginning of underground mining at Oyu Tolgoi in Mongolia.
“Rio Tinto’s work on La Granja has been extensive to date and we share our partner’s view that the project has the potential to be a Tier 1 copper mine,” First Quantum CEO Tristan Pascall said. “We look forward to working together to build on this foundation, leveraging First Quantum’s core strengths in mine design, project development and community engagement to progress La Granja to the next stage.”
First Quantum has been in recent headlines over a dispute with the Panamanian government over royalties that resulted in halting operations at its giant Cobre Panama mine in February. After reaching an agreement that guarantees a minimum annual income of $375 million to the Central American government, the mine resumed operations in March.
...


64x64

Why 2023 is the year to visit Mongolia www.cnn.com

Due to its remoteness and short summer season, Mongolia has long been a destination overlooked by travelers.
But as the country moves to further open up to tourism by easing its entry conditions for international visitors and upgrading its infrastructure, 2023 might just be the best time yet to get there.
Here are 10 reasons travelers should start planning their long-dreamed-of Mongolia visit now.
A growing visa-free list
With the government of Mongolia declaring 2023 through 2025 the “Years to Visit Mongolia,” citizens from an additional 34 countries can now visit the country visa-free through the end of 2025.
The addition of several European countries, including Denmark, France, Greece, Italy, Norway, Spain, and the UK, as well as Australia and New Zealand, now brings the total number of countries and territories on the visa-exempt list to 61.
A new $650 million airport opens its doors
After years of delays, a pandemic and several controversies, the newly built Chinggis Khaan International Airport finally opened in the summer of 2021.
With the ability to handle approximately 3 million passengers a year (double that of the old airport), the addition of 500 new aircraft parking spaces and the infrastructure to support an increase in domestic as well as budget flights, the airport is a welcome addition to the country’s efforts to grow tourism.
Budget flights to Hong Kong from EZNIS Airways have been relaunched since the airport’s opening, and talks to resume direct flights to the United States are reportedly underway.
A modern new museum
The recently opened Chinggis Khaan Museum offers a beautiful, fresh look at Mongolia’s tumultuous history.
With more than 10,000 artifacts spanning over 2,000 years, the museum explores the history of the Mongols and the empire they created – and eventually lost.
The museum’s artifacts are presented over eight floors, with six permanent and two temporary exhibition halls. Guided tours are offered in English every Saturday and Sunday from 10 a.m. to 4 p.m. free of charge.
Mongolia’s answer to Coachella
When most people think of Mongolia, music festivals and conservation-focused art installations in the heart of one of the world’s largest deserts are the last things to come to mind.
But that’s all changing thanks to festivals like Playtime, Spirit of Gobi, INTRO Electronic Music Festival and the Kharkhorum 360 Visual Art & Music Experience.
Placing international bands, DJs, and musicians from around the world alongside Mongolia’s eclectic mix of rappers, bands and folk singers, the country just might be one of the world’s most underrated places for festival lovers.
Celebrate Naadam as it turns the century
The annual Naadam event has always been a great reason to visit Mongolia, but now that the festival has just celebrated its 100 year anniversary, 2023 is as good a time as ever to attend.
While the festival’s origins are rooted in the days of Genghis Khan, when he used horse racing, wrestling and archery competitions to keep his warriors in shape between battles, Naadam only officially became a national holiday 100 years ago.
Today, the festival – held in Ulaanbaatar at the National Sports Stadium, has a few more bells and whistles than it did during the days of the Great Khan.
A seat at July 11’s opening ceremony is always one of the hardest tickets to score in town.
Try your hand at archery the Mongolian way
Mounted archery is seeing a resurgence in Mongolia thanks to guys like Altankhuyag Nergui, one of the most accomplished archers in the sport and his archery academy, Namnaa.
Here, locals learn the fundamentals of Mongolian archery before mounting a horse and taking their new found skills to another level.
In the summer months, students and academy members put on weekly shows for interested spectators. The academy also offers day-long training sessions for those wanting to try this intense sport.
Learn about Mongolian calligraphy from a master
Speaking of giving life to Mongolia’s most ancient traditions, the resurrection of Mongol bichig, or the traditional Mongolian script written from top to bottom and read from left to right, has also seen a major resurgence in recent years.
Visit the Erdenesiin Khuree Mongolian Calligraphy Center in Karakorum to learn from master calligraphist Tamir Samandbadraa Purev about this important cultural heritage. And, while you’re there, browse the yurts filled with Tamir’s works.
Ditch the horse for horsepower
Pair the release of Husqvarna’s new Norden 901 Expedition motorbike with Nomadic Off-Road’s newly announced Eagle Hunter Tour, and you have one of the fastest adventures in Mongolia.
The tour takes six riders 1,700 kilometers from Ulaanbaatar to Bayan-Ulgii, where riders eventually meet their hosts, Mongolia’s famous eagle hunters.
The only thing faster than this adventure is the rate at which Nomadic Off-Road’s tours sell out.
Winter tours offer new insights
Professional musher Joel Rauzy has been leading dogsledding tours across the frozen Lake Khuvsgul for 18 years.
With fewer crowds, lower hotel rates and the chance to see one of the largest freshwater lakes in the world completely frozen over, winter in Mongolia is something else to see and experience.
Rauzy’s company, Wind of Mongolia, offers tours of the lake, where each person is assigned their own sled and dogs for the journey. Following Rauzy’s lead, mushers will make a loop of the lake. Activities include ice fishing, while travelers stay in winterized yurts and spend time with nomadic families along the journey.
Scandinavian design hits Mongolia at Yeruu Lodge
Nestled in the heart of Selenge province on the Yeruu River, Yeruu Lodge is the brainchild of Norwegian founder Eirik Gulsrud Johnsen, who first visited Mongolia in 2017.
With a minimal Scandinavian-style restaurant and dining area, a handful of fully kitted out yurts for guests to stay in, two pétanque courts, kayaks, a driving range, mountain bikes and a yoga area, the lodge is a destination for nature lovers.
Completely off-grid, the lodge runs off solar panels, uses of thermal heating, and all of the property’s water comes from an on-property well and is recycled after use.
Additionally, all glass, metal and plastic used at the lodge is also recycled, and food waste is turned into compost used to grow vegetables, berries and herbs onsite.
The lodge is set to open in April 2023.
...


64x64

The Mongol Khan to run at The London Coliseum this November for a Strictly Limited Season www.theatreweekly.com

The epic Mongolian production The Mongol Khan is to run at the London Coliseum this November for a strictly limited season.
Mongolia. 2000 years ago. A brutal succession battle threatens the very heart of the Empire. As the great Khan struggles to maintain his supremacy, a plot unfurls that will forever alter the balance of power.
The Mongol Khan is a lavish, large-scale production, with an ensemble of over 70 performers, that has played to packed houses in Mongolia for over a year. Based on historical events, the show explores the evolution of Mongolian culture through a gripping story, brought to life with a stunning original score, dance, puppetry, and elaborate sets and costumes inspired by traditional nomadic culture.
The Mongolian creators are now collaborating with an international team of world-renowned artists and practitioners on the show’s development, including prolific historian and travel writer John Man, an expert in Mongolian history and culture.
This spectacular production celebrates 60 years of Anglo-Mongolian relations and cultural exchange. Bordered by China and Russia, Mongolia is one of the world’s best kept secrets as a travel destination for adventure-fuelled people and lovers of luxury alike. Captivating, rugged expanses, stunningly beautiful landscapes, a vast unspoilt wilderness, extremely welcoming people and nomadic tribes with rich traditions, Mongolia has it all. The Mongol Khan serves as an introduction to the country and its history, giving audiences and would-be travellers a taste of the rich culture of this remarkable nation.
The Mongol Khan has all the ingredients of a classic tragedy: jealousy, mistaken identity, adultery, rivalry, sacrifice, succession and the struggle for power. With the stability of an empire at stake, the story culminates in an epic battle for the future of the Hunnic Empire. It’s a multi-sensory feast, the like of which audiences will have never experienced before.
Oyun-Erdene Luvsannamsrai, The Prime Minister of Mongolia said: ‘Welcome to Mongolia! 2023-2025 are ‘The Years to Visit Mongolia’. We are landlocked, but not mind-locked so come and see what we have to offer and enjoy a holiday of a lifetime.
‘To celebrate the 60th anniversary of diplomatic ties between Mongolia and the United Kingdom of Great Britain and Northern Ireland, the classic play The Mongol Khan will play at the London Coliseum. The very first time a Mongolian play has been presented to a European audience, The Mongol Khan offers audiences a unique insight into the mentality and philosophy of early eastern civilisations.’
The Mongol Khan was written in 1998 by renowned Mongolian writer and poet Lkhagvasuren Bavuu and was revived in April 2022 at the Mongolian State Academic Theatre of Drama. The production takes inspiration from historical events, archaeological findings, traditional nomadic dances, and the music of the ancient Hun culture of Central Asia from the period of the Hunnic Empire.
Performances run from the 17 November – 2 December and are on sale now.
...


64x64

Mongolia in the middle of the Russia–Ukraine war www.eastasiaforum.org

At the onset of Russia’s invasion of Ukraine, it was widely expected that the war would have a profoundly negative impact on the Mongolian economy. Mongolia is Russia’s direct southern neighbour and its economy significantly depends on the import of strategically important goods from Russia.
Mongolia imports around 28 per cent of its goods from Russia and is fully dependent on Russian petroleum products. The country’s vulnerability to this dependence has been exposed several times in the past. In 2008, Russian oil and petroleum company Rosneft proposed to build 100 gas stations in Mongolia. Though the Parliament of Mongolia did not approve the plan at first, Ulaanbaatar later recognised the significance of the Russian company as the country’s primary fuel supplier and subsequently signed contracts that were favourable to Rosneft.
The economic, geographical and historical ties between Mongolia and Russia have made it difficult for Mongolia to resolve its dependency on Moscow. As Mongolian political leaders and diplomats have a strong desire to preserve their relationships with Russia, Mongolia has chosen to remain politically neutral about the war in Ukraine by repeatedly refusing to support resolutions of the United Nations General Assembly that condemn Russian acts of aggression.
Unlike Mongolia, former Soviet Union countries such as Kyrgyzstan, Georgia and Armenia rely on Russia for trade, investment, tourism and remittance. International sanctions on Russia have led to a rise in Russian capital flows, foreign trade and tourism to these countries, deepening their dependence on Russia.
The war’s risk to the Mongolian economy is limited to its dependency on imported petroleum products. But heavy international sanctions on Russia have made it difficult for Mongolia to maintain its petroleum imports. To reduce the cost of importing petroleum products and to stabilise its supply, diesel fuel has been exempted from Mongolia’s excise tax until July 2023. After prolonged discussions with Russian suppliers, Mongolian authorities have secured a steady supply of major petroleum products until 2027.
The war is also affecting Mongolia’s economy through other channels, particularly through global inflation. Transportation costs have increased and the supply of major consumer products such as wheat and oil have been disrupted. The International Monetary Fund anticipates that rising global prices will continue to hurt the Mongolian economy.
Transportation costs have increased due to significant COVID-19-related expansionary fiscal and monetary policies as well as China’s zero-COVID policy, which has contributed to a soaring 16.1 per cent inflation in June 2022, the highest level since 2014. Of this, rising import prices — especially of food and petroleum products — accounted for 9.2 per cent.
Rising fuel and food prices have increased import costs, putting additional pressure on Mongolia’s balance of payments. The value of petroleum imports grew by 52 per cent in 2022, while the volume rose by only 3.9 per cent. This adversely impacted Mongolia’s foreign exchange reserves — between February and December 2022, foreign exchange reserves decreased by 7.7 per cent and the Mongolian togrog depreciated by 20.1 per cent. In response to rising inflation, the Bank of Mongolia tightened its monetary policy throughout 2022 and increased the policy rate to 13 per cent, while fiscal policy remains expansionary.
The war is affecting not only the national economy but also individual households. Surging inflation has put more pressure on low-income and welfare-dependent households. In July 2022, the lowest income group faced 18.2 per cent inflation while the highest income group faced only 12.9 per cent (UNDP, forthcoming).
The groups that have suffered the most from price increases are single parents with three or more children and households that have members with disabilities or who need special care. Inflation pressure on female-headed households is 1–2 per cent higher than on male-headed households (UNDP, forthcoming).
As inflation intensifies, pensions, welfare incomes and wages remain unchanged. Households are increasingly using their savings and taking out new loans, which leads to a further deterioration in household livelihood. This impact is especially pronounced for vulnerable groups. For herders and farmers, rising fuel prices have notably increased their cost of business and supply. As a result, rural households are also reducing purchases of essential products, selling more livestock and taking out loans.
The Russia–Ukraine war and the ongoing impact of COVID-19 are also causing significant hardship to small- and medium-sized enterprises that face supply disruptions, human resource shortages and declining demand.
As transportation through Russia is significantly delayed and import and transit from China has slowed, businesses in the manufacturing and trade sectors face significant complications. The rapidly rising prices of raw materials is hurting enterprise operations across the board. This is especially true for businesses in remote areas that greatly depend on transportation.
With the global economic fallout from Russia’s protracted invasion of Ukraine showing no sign of ceasing, Mongolian families, farmers and businesses will continue to feel the squeeze.
BY:
Oyuntugs Davaakhuu is a researcher at the Economic Research Institute, Mongolia.
Tuvshintugs Batdelger is Director at the Economic Research Institute, Mongolia and Associate Professor at the National University of Mongolia.
...


64x64

Export Increases by 8.2 Percent www.montsame.mn

According to the National Statistics Office of Mongolia, in the first two months of 2023, Mongolia traded with 118 countries from all over the world, and the total trade turnover reached USD 3.4 billion, of which USD 2.2 billion were exports and USD 1.2 billion were imports.
The total foreign trade turnover increased by USD 1.5 billion (55.2 percent), where imports increased by USD 160.5 million (15.5 percent) and exports increased by USD 1.1 billion (90.1 percent) compared to the same period of the previous year.
In February 2023, exports increased by USD 88.1 million (8.2 percent) and imports decreased by USD 177.8 million (25.8 percent) compared to the previous month.
The foreign trade balance was in surplus of USD 1 billion, an increase of 7.3 times compared to the same period of the previous year. In February 2023, the trade balance surplus increased by USD 265.9 million from previous month. Trade with China reached USD 2.5 billion in the first two months, which is standing for 71.4 percent of the total trade turnover.
Copper concentrates and bituminous coal accounted for 18.3 percent and 61.1 percent of total exports to China, respectively, gold accounted for 99.9 percent of total export to Switzerland.
Exports increased by USD 1.1 billion in the first two months of 2023, mainly due to the increase of exports of coal by USD 955 million, zinc ore and concentrate by USD 4.2 million, iron ore concentrate by USD 39.5 million and fluorspar ore and concentrate by USD 22.4 million.
During the same period, 35.5 percent of the total imports from China, 28.1 percent from Russia, 8.7 percent from Japan, 4.3 percent from South Korea, 3.4 percent from the USA, and 2.3 percent from Germany, collectively constitute 82.4 percent of the total import.
Exports of mineral products, natural or cultured stones, and precious metals accounted for 93.4 percent of the total export. However, 77 percent of the total imports were mineral products, machinery, equipment and electric appliances, base metals and articles thereof, transport vehicles and spare parts, and food products.
...


64x64

Chairman says Gazprom close to maximum gas supply to China www.asahi.com

BO’AO, China--Russia’s Gazprom is increasing gas supplies to China and expects soon to reach the maximum planned level through a Siberian pipeline, its chairman said Wednesday, highlighting Beijing’s importance as his country’s top export market in the face of Western sanctions over its invasion of Ukraine.
Gazprom is negotiating with China over a possible additional supply project across neighboring Mongolia, Viktor Zubkov said at a government-organized economic forum. He said the company is open to serving other Asian markets.
Chinese leader Xi Jinping’s government sees Moscow as a diplomatic partner in opposing U.S. domination of global affairs and has refused to criticize its invasion of Ukraine. Beijing has called for a cease-fire and negotiations but not a Russian withdrawal.
China’s imports from Russia, mostly oil and gas, surged 31.3% over a year ago in January and February to $18.6 billion. That helps President Vladimir Putin offset lost revenue after the United States, Europe and Japan blocked or limited imports.
“Russia is increasing its gas supply to China,” Zubkov said at the Boao Forum for Asia. “The gas supply through the Power of Siberia pipeline will soon reach the contracted annual volume of 38 billion cubic meters,” or 1.3 trillion cubic feet.
Gazprom is negotiating with state-owned China National Petroleum Corp. on a gas supply project through Mongolia that is designed to carry 50 billion cubic meters (1.8 trillion cubic feet), according to Zubkov.
“Russia is open to cooperation with other Asian countries in clean energy supplies,” Zubkov said.
Also at the forum, the deputy chairman of the Chinese Cabinet’s planning agency said Beijing will balance its plans to reduce carbon emissions with its need for energy security. China is the biggest emitter of climate-changing industrial gases.
The ruling Communist Party stepped up mining of coal and construction of coal-fired generating stations after power shortages in late 2021 caused blackouts and forced factories in some areas to shut down temporarily. Xi said in 2020 that carbon emissions would peak by 2030 but announced no target level.
“We will actively and prudently promote carbon peaking and carbon neutrality,” said Zhao Chenxin of the National Development and Reform Commission. “However, we must balance its relations with energy security and development.”
...


64x64

Implications of Dalai Lama Identifying New Head of Tibetan Buddhism in Mongolia www.thediplomat.com

The 14th Dalai Lama, the highest spiritual leader of Tibetan Buddhism whom China sees as a “dangerous separatist,” appears to have outsmarted the communist-ruled country by quietly announcing the new head of Tibetan Buddhism in Mongolia, a position for which China wanted Mongolia to seek its consent.
The announcement happened on March 8 during an event in India, and the media picked up the news on March 23. However, as of March 28, there has been no response from China, which in 2017 had warned Mongolia against allowing the Dalai Lama to meddle in the identification of the heir to the highest position in Mongolia’s Buddhist hierarchy. There has been no official response from Mongolia either.
“We have the reincarnation of Khalkha Jetsun Dhampa Rinpoché of Mongolia with us today,” the Dalai Lama said, indicating a small boy sitting next to him, while addressing a gathering of about 5,000 monks and nuns and 600 Mongolians on March 8.
The place was Dharamshala, a north Indian Himalayan town where the Dalai Lama has been based since 1960, a year after fleeing China and entering India in exile. The Tibetan Parliament in Exile and the Central Tibetan Administration operate out of Dharamshala.
Tibetan Buddhists make up the largest chunk of the population in Mongolia. However, identifying the 10th Jebtsundamba Khutughtu (also spelled as Khalkha Jetsun Dhampa Rinpoché) importance beyond Mongolia, and even beyond China-Mongolia relations. The Jebtsundamba is also considered the third-highest spiritual leader of Tibetan Buddhism globally — only after the Dalai Lama and the Panchen Lama. Because of this, he can play a crucial role in the Dharamshala-backed institutional search for the next Dalai Lama – itself a major bone of contention between the Dalai Lama and China.
The search for the 10th reincarnation of the Jebtsundamba began after the ninth reincarnation died in 2012. However, after the Dalai Lama, during a 2016 visit to Mongolia, revealed that the 10th reincarnation of the Jebtsundamba had been identified, China asked Mongolia not to allow him to visit the country again.
“Considering the significance of his reincarnation and bearing in mind that he (the late ninth incarnation) is a personal friend, I feel I have a responsibility to look after his reincarnation,” the Dalai Lama had said. He added, “I am convinced that his reincarnation has been born in Mongolia. However, the boy is very young right now, so there is no need for haste in making an announcement. When he is 3, 4, or 5 years old, we’ll see how things are.”
Now that the Dalai Lama has introduced the 10th Jebtsundamba before the public, and also “met briefly with a significant contingent of Mongolians” after the event, a rebuke from China could be in the offing. China does not want the Dalai Lama to have anything to do with identifying the reincarnations of Tibetan Buddhist Lamas, including the Dalai Lama. They claim there is a long-existing system for identifying such reincarnations and those must be adhered to.
In 1995, when the 14th Dalai Lama named a Tibetan boy as the 11th Panchen Lama, the child was allegedly abducted by the Chinese authorities soon after and has not been seen or heard from since. China also announced its own choice of the Panchen Lama. The Dalai Lama has not recognized the Chinese choice.
China had, in 2007, legalized the need for governmental approval before announcing any reincarnation of Buddhist Lamas. Even though Mongolia is not Chinese territory, China always wanted to have a say on matters involving Tibetan Buddhism. In a Global Times article from 2021, titled “Qing government’s administration over Tibet, authority over reincarnation of living Buddhas indisputable,” Zhang Yun, director of the Institute for Historical Studies at the China Tibetology Research Center, cited a 1793 ordinance of the Qing empire in support of the practice that China wants to uphold.
“Emperor Qianlong… issued a golden urn to the Jokhang Monastery, ordering that at the death of any Dalai Lama, Panchen Lama, Jetsun Dampa Hutuktu and other Hutuktus and lamas in Tibet and Mongolia, the names and birthdays of the Khuvilgaan candidates would be announced, and put into the golden urn. With the lamas chanting and the Resident Ministers in Tibet supervising, a name shall be drawn from the urn and that would be the name of the Khuvilgaan,” he wrote.
This is how the 11th Panchen Lama was selected, China claims. This is how they want to pick the next Dalai Lama. The Dalai Lama and the Tibetan Parliament in Exile have ruled this out.
In 2010, the Dalai Lama said in an interview, “If the present situation regarding Tibet remains the same, I will be born outside Tibet away from the control of the Chinese authorities. This is logical. The very purpose of a reincarnation is to continue the unfinished work of the previous incarnation. Thus if the Tibetan situation still remains unsolved it is logical I will be born in exile to continue my unfinished work.”
The Central Tibetan Administration has since then repeatedly maintained that the Dalai Lama alone is responsible for his reincarnation.
However, in case the 87-year-old dies without naming his successor, the role or opinion of the Jebtsundamba can emerge crucial, as a large number of Tibetan Buddhists do not acknowledge the China-recognized Panchen Lama.
Therefore, having the 10th Jebtsundamba chosen by the Dalai Lama gives the Tibetan government in exile an edge over Chinese authorities on affairs relating to Tibetan Buddhism.
“Since the death of his ninth reincarnation in 2012, Mongolia has walked a geopolitical tightrope with China on one side and Dharamsala on the other. When and how the Jebtsundamba Khutuktu reincarnates will give one side much more power over the future of Tibetan Buddhism, with significant geopolitical consequences,” wrote Munkhnaran Bayarlkhagva, an Ulaanbaatar-based geopolitical analyst who has served at the National Security Council of Mongolia, in a 2022 article.
Earlier this month, an article in The Diplomat pointed out that Mongolia’s pursuit of its next spiritual leader had become “a high-stakes game of power and influence behind the scenes, with China’s growing sway casting a shadow over the nation’s religious affairs.” China was “seemingly nudging Mongolia to seek its approval before acknowledging a new leader.”
Whether or how Mongolia recognizes the reincarnation remains to be seen, as they would have to do it at the cost of irking their superpower neighbor. In 2016, after the Dalai Lama’s visit, China blocked a crucial border entry point and imposed new fees on commodity exports from Mongolia, prompting the landlocked country to announce that they would not host the Dalai Lama again. China hoped Mongolia had learned a lesson.
Besides, the 10th Jebtsundamba will still have to be formally enthroned by the Mongolian clergy. In 2016, Mongolian foreign minister at the time, Munkh-Orgil Tsend, had said that he hoped the Mongolian clergy would deal with the reincarnation “without the influence or involvement of any outsiders.” Now that the Dalai Lama has already introduced him, when and how the Mongolian clergy responds will play a key role in determining the future course of Tibetan Buddhism that guides the spiritual lives of millions of people in Asia.
CONTRIBUTING AUTHOR
Snigdhendu Bhattacharya
Snigdhendu Bhattacharya, the author of two non-fiction books on India’s ultra-Left and the Hindu right, writes and comments on India’s politics, environment, human rights and culture.
...


64x64

Mongolia’s Economy Is Forecast to Grow 7% If China Hits Its Annual GDP Target www.yicaiglobal.com

Mongolia's economy can grow 7 percent this year on the condition that China achieves its target for a 5 percent expansion in gross domestic product, according to Mongolia's vice prime minister.
China's rapid economic growth is very beneficial for Mongolia as it promotes the country’s exports, which are crucial for the economy, Chimed Khürelbaatar, who is also economy and development minister, told Yicai Global yesterday on the sidelines of the annual Boao Forum for Asia that began the same day.
China is Mongolia's biggest trading partner. Mongolia’s trade with its neighbor jumped to a record USD13.6 billion in the 12 months ended Dec. 31 from the year before, data from its National Statistics Office showed, making up 64 percent of its total foreign trade last year.
The fast recovery of China's economy leads the country to buy more of Mongolia's products and increase investment, Khürelbaatar said, adding that Mongolia will keep exporting coal products to China.
In the decade since China first proposed the Belt and Road initiative -- a huge infrastructure project spanning the world -- Mongolia’s international trade more than doubled to USD21.2 billion in 2022, Khürelbaatar pointed out. The BRI is a path toward common prosperity and greatly helps Mongolia, the vice prime minister said.
Thanks to the BRI, Mongolia's trading relations have progressed significantly and now include over 100 nations, Khürelbaatar said, noting that Mongolia's economy has constantly developed, with a big increase in its per capita GDP. And Mongolia has constructed about 500 kilometers of rail links to connect its provincial capitals, and has also extended its highways network, he noted.
The Boao Forum for Asia is being held in China’s Hainan province through March 31. This year's annual conference is the first in-person since the start of the Covid-19 pandemic.
Editors: Xu Wei, Martin Kadiev
...


64x64

Companies Spend the Raised Capital on Expanding Their Operations www.montsame.mn

Companies that have issued shares and bonds must report to the Mongolian Stock Exchange (MSE) the spending of their capital, raised through selling their shares, on an annual and semi-annual basis. In the event that the spending is not on the intended or planned purpose, they are held accountable in accordance with relevant regulations.
D. Nyamdorj, a Capital Market Analyst, presented how the companies, that participate in the capital market and have issued their shares and bonds, are spending their raised capital. According to him, the spending can vary, depending on the nature of their products, services, and operations.
For instance, the MSE is spending MNT 11.9 billion, which was raised during its IPO in January 2023, mainly on its technological improvements, digitalization of the operations, and training and service center updates.
“Invescore” Non-Banking Financial Institution (NBFI) is planning to spend the capital of MNT 50 billion, which will be raised through the issuance of its bond, on financing its loan portfolio.
While “Sendly NBFI” JSC has issued 85,000 units of debt instruments worth MNT 8.5 billion, each with a par value of 100,000 and an annual coupon rate of 19.2%. According to their bond prospectus, they are planning to spend the capital as a financial resource for their main business activity.
The net profits of the banks listed in the MSE have increased by 87-355 percent.
The State bank issued an IPO in Q4 2022 and became the first systematically influential bank that went public. According to “Mandal Asset Management,” their net profit has reached MNT 96 billion, up 87% over the previous year, which shows a record-high rate in recent years’ performance of this bank. Their ROI (return on investment) is 22%.
The “Golomt Capital” informed that the net profit of the Golomt bank had reached MNT 100 billion as of the end of Q4 2022, an increase of 355% compared to the same period last year, which was the record high growth for this bank as well. While their equity has reached MNT 844 billion, a growth of 42%. Their ROI is 14%.
As stated in the report by ‘BDSec’ JSC, Bogd Bank’s equity and the number of loans issued by the bank have reached MNT 116.7 billion and MNT 208.1 billion, up 15% and 42 % over last year, respectively. In 2022, the abovementioned three banks were listed in the MSE Top 20 Index by their number of securities traded. Since the IPOs, their per-share prices have slightly decreased.
“Increase in net profits allow businesses to disburse dividends for their shareholders. On the other hand, the dividend disbursement is, indeed, a kind of capital spending.” B. Ulziibayar, Chair of the Board of Directors, Mongolian Association of Securities Dealers said.
In recent years, share prices of enterprises of the food sector have been increasing. For example, share prices of “Talkh Chikher” JSC, “Monos” JSC, “Tumen Shuvuut” JSC, “APU” JSC, and “SUU” JSC have shown average annual increases of 30 percent.
Also, the sales and net profit of the "Gazar Shim" LLC, which issued an IPO, have shown relatively high growth in the last 5 years. “Gazar Shim" LLC has publicly offered 16.54 percent of its total shares, or 198 million shares valued at MNT 53 each. They intend to raise a total of MNT 10.5 billion from the market with the purpose of increasing their market share, entering a new market, and increasing the volume of their exports.
...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook