28 new COVID-19 cases were recorded in Mongolia in a day.

24 of them were contacts in Ulaanbaatar, and 4 were registered in the regions. No imported cases were found.

The death toll from coronavirus remained 2,131.

TMK Energy (ASX:TMK) has today commenced drilling the third of four planned wells onsite its Mongolian acreage at the company’s flagship CSG project.

Earlier this month, the company reported a 91m thick coal body at Snow Leopard-2. Initial test results indicate high methane contents (the key constituent of natural gas) and the easy flow of gas through rock.

Snow-Leopard 3 is targeting the same coal bodies.

Management notes results from SL-3 upon completion will be compared with SL-1 and SL-2 to further delineate the resource and log the gas characteristics encountered at Gurvantes XXXV.

Millidarcy metre values for the coal bodies intersected in SL-2, a measure of how easily gas can flow through rock, reflected a desirable coal deposit allowing the free flow of gas molecules underground.

Those results suggest the stimulation and extraction of gas is likely to present a commercially feasible prospect for the company's CSG production.

Talon to earn 33% interest

Talon continues to earn a 33% working interest in the project and assisted in the provision of US$1.5m to execute the four well program.

The partnership intends to establish a pilot plant on-site at which time Talon Energy will assist in the provision of a further US$3.15m.

TMK is now fast tracking a pilot well proof of concept process with operations expected to commence later in 2022.

BY Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at jon@marketindex.com.au.

On October 17, Chairman of the State Great Khural of Mongolia G.Zandanshatar paid a courtesy call on President of the Republic of Turkey Recep Tayyip Erdoğan.

Chairman of the State Great Khural G.Zandanshatar expressed condolence to the President, the grieving families of the victims, and the people of Turkey over a coal mine blast in the northern province of the country that killed at least 41 people.

During the meeting, the sides mutually reaffirmed their commitments to advance bilateral relations to a new level and exchanged views on deepening cooperation in the spheres of trade, economy, defense, culture, tourism, and education.

While conveying the greetings of the President of Mongolia, the Chairman expressed his satisfaction with the intensification of high-level political dialogues.

Teams of the Philippines and Mongolia became the champions of the second Intercontinental Online Chess Championship for Prisoners after winning the final of the biggest-ever chess event among correctional facilities. The tournament was organized by FIDE and the Cook County (Chicago, IL, USA) Sheriff's Office and coincided with the International Day of Education in Prison.

The men's section saw two matches: Colombia and the Philippines fought for gold, while El Salvador and India competed for the bronze medals. The Philippines won both their matches against Colombia (2.5-1.5 and 3-1) in the final and came out on top. The victory came as a result of the hard work of both players and prison officials. A year ago, the team finished 5th in the inaugural event. When preparing for the second championship, prisoners were trained by some Philippines' strong chess masters, including Winston Silva, Shrihaan Poddar and Jail officer 1 Cedrix B Cabangal. Players worked on chess every day, watching videos and chess tutorials and analyzing their games.

In the match for bronze, India prevailed over El Salvador.

FIDE President Arkady Dvorkovich attended the online closing ceremony of the 2nd Intercontinental Online Chess Championship for Prisoners and congratulated the finalists:

"I would like to congratulate all participants, all teams, and everyone who was involved. I hope you enjoyed playing, representing your countries and, most importantly, that you improved your skills by learning and playing chess and communicating with other people. We all hope that at some moment of your life, you will be free to make your own choices, and chess will help you to make those choices rationally."

Final matches in men's and women's competitions ran concurrently. The Women's final between Mongolia and Serbia ended with a victory for Mongolian team; Serbia claimed silver medals. The women's match for third place between England and Trinidad and Tobago was not played due to technical reasons. Both teams shared third place.

It is the second gold medal of the Intercontinental Championship for Prisoners under team Mongolia's belt. A year ago, the country won gold in the open competition of the inaugural event. It was hardly a big surprise, as Mongolia has a long-standing tradition of teaching chess in prisons. Since 1956 chess tournaments have been organized in all correctional units of the country.

The winners were greeted by the Deputy Chair of the FIDE Management Board Dana Reizniece-Ozola: "I think that the fact that this is already the second year when we see the gold medals being awarded to Mongolian teams is proof of their dedication to Chess in Prisons programme that has been already running in Mongolia for decades. There's no easy way to success; you have to work a lot and invest a lot of time and resources. My congratulations also to the other teams that participated. My understanding is that even though there are only three medals in each competition, you're all the winners. You have increased your stress resistance and experience, strengthened your team spirit, and you have represented your country in this great event."

In the youth section, the winners were determined on Friday, October 14. Team Serbia lifted the trophy after defeating England in the final. The bronze medal went to team Ecuador.

The three-day tournament aimed to popularize chess as an efficient tool for reintegrating incarcerated people stretched over five days from October 13-17, 2022. The event attracted 85+ teams from 46 countries representing all continents, providing an opportunity for inmates to play with their peers across the globe.

President Xi Jinping has promised a slow and steady end to the growth of planet-warming emissions in China, with energy security taking top priority as the country contends with a flagging economy and tumult on global fuel markets.

In a two-hour speech to kick off the weeklong Communist Party Congress, Xi said that prudence would govern China’s efforts to peak and eventually zero-out carbon emissions. The cautious wording comes after a spate of high-profile power shortages in recent years, and as global energy costs have soared after Russia’s invasion of Ukraine upended trade flows.

The speech made China’s path to decarbonization clear: It won’t stop burning fossil fuels until it’s confident that clean energy can reliably replace them.

“We will work actively and prudently toward the goals of reaching peak carbon emissions and carbon neutrality,” Xi said in his address. “Based on China’s energy and resource endowments, we will advance initiatives to reach peak carbon emissions in a well-planned and phased way, in line with the principle of getting the new before discarding the old.”

China is the world’s largest emitter of greenhouse gases, and Xi electrified climate activists two years ago when he vowed to reach carbon neutrality by 2060 after peaking emissions before 2030. The announcement sparked a massive surge in investment in clean energy by local governments and state-owned firms.

But last year, focus began to return to China’s mainstay fuel of coal after a shortage triggered widespread power curtailments to factories, slowing economic growth. The country vowed to increase mining capacity, and production has risen to record levels this year, keeping storage sites well stocked and reducing imports.

China will also expand exploration and development of oil and gas resources, and increase reserves and production as part of the measures to ensure energy security, according to a congress work report released after Xi’s speech.

China invests more than any other country in clean energy, and is on pace to shatter its record for new solar installations this year. But it hasn’t been able to outrun the growth in energy demand, forcing it to burn more coal and setting a record for consumption last year that is likely to be eclipsed in 2022.

Xi made clear that fossil fuels and renewables will have to work in tandem. “Coal will be used in a cleaner and more efficient way and we will speed up the planning and development of new energy systems,” he said.

He also vowed that China would be actively involved in the global response to climate change. His government was criticized after it broke off climate negotiations with the US in August after House Speaker Nancy Pelosi’s visit to the contested island of Taiwan.

Barrick Gold (TSX: ABX)(NYSE: GOLD) said on Monday it had achieve a significant legal milestone to proceed with the development of the giant Reko Diq copper-gold deposit in Pakistan, close to the borders of Iran and Afghanistan.

During a four-day visit to the country, president and chief executive Mark Bristow held discussions with several stakeholders, which finished with all the documents needed to start building Reko Diq being approved by the country’s president Arif Alvi.

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Paperwork was filed on Saturday with the supreme court, Barrick said, adding that once that transaction is completed, the project will be owned 50% by Barrick, 25% by the province of Balochistan, where the asset is located, and 25% by major Pakistani state-owned enterprises (SOEs).

The Reko Diq project, which hosts one of the world’s largest undeveloped copper-gold deposits, has been on hold since 2011 due to a dispute over the legality of its licensing process.

Barrick solved the long-running dispute earlier this year, reaching a preliminary out-of-court deal that cleared the path for a final agreement on how to run the mine and profit-sharing arrangements.

The project is now seeking financing partners, with a target of 50% debt to total capitalization.

The company plans to deliver production as early as 2027-2028 from Phase 1 at a cost of around $4 billion, with Phase 2 to follow in five years and a cost of roughly $3 billion.

Two-phase development

The conceptual design calls for an open pit with a life of more than 40 years. It would be built in two phases, starting with a plant that will be able to process about 40 million tonnes of ore per annum, which could be doubled in five years.

The latest plan is double the annual throughput capacity and more than twice the investment estimated in an unpublished 2010 feasibility study.

During peak construction, the project is expected to employ 7,500 people and once in production it will create 4,000 long-term jobs during the expected 40-year life of the mine.

Some analysts believe that Pakistan’s lack of experience in mining and its political instability make this a risky deal.

Bristow, however, said in May that he had worked in challenging situations all his life and that he was “very comfortable” with the project. He added that this was the “perfect opportunity for the mining industry to demonstrate what it can bring to an economy” of a region that has been “neglected” and struggles to get access to potable water.

Barrick is setting up community development committees (CDCs) to identify priority projects and supervise their implementation.

“Our CDC model provides a transparent and accountable mechanism for tailoring development programmes to the needs of these communities with their full participation,” Bristow said on Monday.

Barrick also said it was donating an additional $150,000 to the Balochistan flood relief fund, bringing the its total contribution to $300,000.

21 new COVID-19 cases were confirmed in Mongolia in past 24 hours.

17 of them were contacts in Ulaanbaatar, and 4 were recorded in the regions. No imported cases were found.

The number of coronavirus related deaths is 2,131.

Some foreign countries prefer to use young animals' meat for food. Because such animals have not been vaccinated, the risk of getting infectious diseases is low. Therefore, Mongolia has started to export lamb recently. The 'Darit Shuteen' company of Sukhbaatar aimag has carried out this work in the eastern region by exporting lamb meat to the Islamic Republic of Iran. 'Bayan Tal' meat processing factory contracted with the 'Star Sky Muscat' company to supply lamb to Iran. In the first phase, the parties contracted to provide 500 tons of meat and currently deliver about 250 tons. The meat preparation process is very sophisticated. The supplier has high prerequisites. Therefore, representatives of the government of Iran and partner companies work in Mongolia to double the control.

We interviewed the company's director, B.Enkhtsetseg, about the meat processing factory's products, evolution, operations, and unique advantages.

-Why did you start your foreign trade with lamb export?

-Three years ago, we started exporting lamb in cooperation with a Mongolian company. We studied how to bring a lamb into economic circulation and its importance. The primary significance is to prevent pastures' overloading and protect fields. On the other hand, lambs are the most possible and first-priority animals that can be put into economic circulation. Circulating spring-born lambs in the fall can solve issues that increase the risk of winter disasters and make herders' work more accessible. Our factory started the export of lamb independently in 2021.

-Some people criticize eating the lamb as it comes from a baby animal. Have these things happened a lot before?

-There was a lot of criticism and opposition in the beginning. Our herders barely gave their lambs. When people think of a lamb, they immediately think of it as a tiny baby animal. In general, the animals of our country are raised by grazing methods, so they have good taste besides body types. When the spring calves are sold in the autumn, they have already grown in size. The average weight of lamb is 16-18 kg in our aimag. This idea started giving the correct understanding to the herders and citizens, and on the other hand, our herders also saw the benefits of delivering their lambs. It is a good result of our work. Now the herdsmen are asking to give their lamb by themselves.

-Subsequently, may it change the breeding methods of herders as a result?

-Absolutely. When herders see the results of delivering their lambs and bringing them into the economic cycle at the right time, they start to approach their herding methods from a scientific point of view. They started doing research focusing on how to increase the weight of their lambs. The first lambs weighed 11-12 kg, but now the maximum weight is 24 kg. They used a scientific approach of feeding and emasculating. It is the success of the policy behind our operations.

-In which markets does the ‘Bayan Tal’ meat processing factory sell its products?

-Our factory processes meats from five livestock, except for camels. Our market focuses on three main areas: internal, external, and local. We aim to provide cheap, clean, and quality products to the people through our local factory shops. Ulaanbaatar city is our domestic market. We deliver products that meet the national standard to households and organizations with a precise return address. For families, our factory-prepared and delivered meat products are accessible for consumption. When it comes to enterprises, we follow the customers' orders, not depending on whether it has high-quality bone or boneless meat. Of course, to represent and highlight the country in the foreign market, we aim to have value-added products starting from the box. Currently, we are exporting our products to China and Iran.

-How many animals and meat are processed and put into economic circulation per year?

-It is relatively different eve­ry year. Few factories work continually throughout the year. It is difficult for a country with 3 million people and 80 million animals to do business only in the domestic market. Along with the lifestyle of Mongolians and the needs of herders, the peak period of meat factories is August through October. During this time, we put 400- 500 sheep, goats, and about 100 cows and houses into the factory.

-What other opportunities are there to expand the foreign market?

-For manufacturers in any field, it is essential to release their products abroad, including meat. Bringing livestock and meat into economic circulation will benefit the country, industries, and herders. Therefore, expanding the foreign market is extremely important. It is not easy and depends on law and government policy. But it seems that all works out positively.

The government has recently launched an excellent initiative If our products meet the standards and requirements of the client country, it is being discussed that the Mongolian side will not impose many requirements. It is an advanced and correct decision. It means that if a citizen of a foreign country visits the factory and determines that our product meets the prerequisites of that country, we will be able to supply it directly to that country. If this is implemented in reality, many manufacturers will have the opportunity to sell their products to foreign markets.

For our industry, animal health is crucial in foreign markets. If they prevent their healthy herds, there are more opportunities and significant needs for livestock farmers and meat processors. Recently, meat has been called red gold all over the world. Therefore, exporting livestock meat products and raw materials with added value is an opportunity to improve the livelihood of herders it is essential too. The goal of ‘Bayan Tal' meat processing factory is to become the leading food industry competitive in the local and Mongolian markets to produce pure and organic products that meet the hygiene requirements using Mongolian raw materials. Even though our company started its operations in 2017, it is only now becoming a well-known factory in this country. This factory's lamb was selected as Mongolia's best export product in 2022.

Boiled rumen, scalped head, seasoned Mongolian traditional meat ham, and five purtenance meat soups. These are all foods that have been Mongolians’ national cuisine since ancient times. But these days, it is often depreciated and thrown away. In fact, these foods are the most beneficial for human health. Unfortunately, free vitamins are often wasted. So, we wanted to highlight the "Bayan Tal" meat processing factory to reconfirm that these devalued purtenance meats are a luxury food. It is one of the five companies for meat processing in Sukhbaatar aimag, and the uniqueness of this factory is not wasting anything from animals.

-What is unique about processing and selling purtenance meat products of your factory?

-As society changes and grows, I see Mongolians moving back to their traditional mindset. People started to understand that purtenance products are more beneficial than meat for human health. Based on this need, we process all the purtenance meats of our animals, sort them, and pack them separately because people like one purtenance product more than the other. We try to make our products easier to use by cutting and chopping. We see purtenance products moving beyond healthy organic products to luxury cuisine.

-It is interesting to know how citizens and customers accept your products.

-People pay more attention to their health than before. They learned that getting minerals and vitamins through food is more valuable. Therefore, our products are often praised for being easy to use and having good taste. On the other hand, this type of product costs cheaper.

-What guarantees can be given for the quality of meat and meat products? Because after the incident last June, people's trust in meat producers has been lowered to a certain extent.

-Precisely. A Mongolian proverb says if one cow's horn shakes, the horns of a thousand cows will shake.

That incident negatively impacted the lives of herders in our country and citizens and enterprises that provide services in this field. However, places that are well-known to consumers and prepare good quality products overcame this difficulty. As for our factory, we purchase the animals directly from the herders. But the herdsman must register his animals to the Veterinary Platform.

-Most of your customers purchase the products from hand to hand at your local shops. Does it mean they can only learn about the origin of meat and meat products when they make a purchase?

-Certainly. We have opened a warehouse and factory shop in Ulaanbaatar to supply our products to our customers directly. Customers can come and make their selections and have us deliver to their desired location.

China has told its state-owned gas importers to stop reselling liquefied natural gas (LNG) to foreign buyers as the government aims to secure the nation’s own supply for the winter heating season, Bloomberg reported on Monday.

People with knowledge of the matter told the news outlet that the National Development and Reform Commission has asked PetroChina, Sinopec, and CNOOC to keep their winter supplies for domestic use. While the sales had offered some relief to European buyers, rapidly filling inventories and record-high shipping costs also reduced the appeal of reshipping the fuel, the sources reportedly said.

Domestic demand for energy had been falling in China in recent months, prompting Beijing to resell excess LNG in the global market. Europe, Japan, and South Korea were among its key buyers. Data shows that as gas supplies from Russia to Europe plummeted from 40% to 9%, imports of LNG to the EU have increased by 60% year-on-year, despite being much more expensive than pipeline deliveries.

However, current forecasts for a small deficit in the gas supply likely spurred the move by Beijing, which has pledged to keep houses warm this winter. On Sunday, President Xi Jinping addressed energy security concerns during his two-hour speech.

According to Bloomberg, the move by China to secure its own supply could drain shipments to Europe and exacerbate the region’s looming energy crunch this winter. “China holds large contracts to purchase LNG from exporters like the US, with the Asian nation’s traders diverting some of that supply to Europe this year amid lackluster demand at home,” the outlet reports.

The Elders today welcomed Tsakhiagiin Elbegdorj, former President of Mongolia, as the newest member of the group.

President Elbegdorj is the first former head of state from Asia to join The Elders, which was founded by Nelson Mandela in 2007. He led his country’s transition to democracy in the 1990s and is an international campaigner on human rights, freedom, nuclear disarmament and climate change.

President Elbegdorj served as President from 2009 to 2017 and as Prime Minister in 1998 and from 2004 to 2006. He helped redefine his country’s relations with its neighbours including Russia and China, as well as establishing Mongolia as a constitutional democracy in the heart of Asia.

The Elders welcome President Elbegdorj to the group as they consider the challenges for the world in the decade ahead. His insight into the geopolitics of Asia, human rights, and multilateral dialogue on existential threats will be critical to The Elders’ upcoming activity.

President Elbegdorj will become one of eleven current Elders and the first to join since early 2019. Made up of former world leaders, Nobel Peace laureates and human rights advocates, the group promotes global solutions to existential threats and encourages ethical leadership.

Mary Robinson, Chair of The Elders and former President of Ireland, said:

“I am delighted to welcome Tsakhiagiin Elbegdorj to The Elders. He is a leading voice on democracy, disarmament and good governance across Asia who will bring a unique perspective to the Elders’ work. My fellow Elders and I are looking forward to working with him in the years ahead to tackle the interconnected challenges facing humanity.”

Tsakhiagiin Elbegdorj said:

“It is a huge honour to join The Elders at this critical time. In confronting our global challenges the world needs a holistic approach that puts people and their rights at the centre of the stage. I am inspired by Nelson Mandela’s vision of hope, courage and resilience, and look forward to working alongside my fellow Elders to build a safer, healthier and fairer world for all.”