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    

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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“Mongolia can be a role model for the rest of the world for achieving SDGs earlier” www.montsame.mn

We interviewed UN Resident Coordinator for Mongolia Mr. Tapan Mishra on the relations and cooperation between Mongolia and the United Nations.
The UN established Development Assistance Framework for 2017-2021 with the Government of Mongolia in 2017. How would you assess the overall achievements of this?
-As part of its cooperation, the UN adopts a strategic framework document with its member states every 5 years. Currently, the document – United Nations Development Assistance Framework – is being implemented. This document was supposed to be implemented in 2017-2021, but it was extended by one year due to changes in the situation due to the COVID-19 pandemic in the last 2 years. Thus, we evaluated the results and achievements of the targeted activities during the pandemic, and believe that a lot of achievements and successes were achieved during the implementation of the document. However, there are still some areas we need to focus more. Many projects have been implemented and supported at the policy level. I also saw that there is an opportunity to improve certain activities within the framework of reforms and changes that are being carried out under the slogan "One United Nations". Based on the previous achievements and lessons learned, together with the Government of Mongolia, we have signed a document called the Sustainable Development Cooperation Framework (SDCF) for Mongolia for 2023-2027.
What kind of projects and programs are being implemented within the framework of the cooperation between Mongolia and the United Nations?
-I would like to first talk about how the SDCF was developed. First of all, we have analyzed the implementation of the Development Assistance Framework, which was implemented in the past year in order to support the targeted activities of the Government of Mongolia, covering a wide range of social, economic and political aspects. In doing so, we brought together many stakeholders such as international financial institutions, academia, think-tanks, government and non-government organizations and civil society to come up with the whole vision for the next five years of cooperation. As a result, it was agreed that the strategic document for the next 5 years should be targeted at 4 main pillars that are aligned to people, prosperity, peace, and planet. It was also formulated in good coordination with Mongolia’s Vision-2050 long-term development policy.
Firstly, the cooperation should be based on people and communities. In other words, the main thing is that it is necessary to focus more on human development, social development, and strengthening the people’s capacity. The main content of human development starts with basic human needs such as health, education, water sanitation, hygiene and security, food availability and accessibility, and social protection. Ensuring gender equality and combating gender-based violence have also been prioritized.
Secondly, the planet and prosperity were considered as one of the four pillars. 23 agencies of the United Nations system will work together to implement the SDCF, and they have defined how they will support and cooperate with the government within their respective functions. While making contributions to the stability of our planet, it contains a specific goal of reducing greenhouse gas emissions and air pollution, and mitigating the damage caused by the climate change.
We know that Mongolia's economy is highly dependent on the mining industry. So, we focused a lot on how to improve and diversify this economic situation and developed our goals in this regard. It is believed that by diversifying the current pattern of exporting natural resources and developing trade, it is possible to make progress in trade cooperation, especially for Mongolia.
Currently, 85 percent of Mongolia's exports are dependent on raw materials. It is understood that Mongolia's economy will be diversified by changing this situation and making more value-added products available to export.
In addition, there is a need to support Mongolia in creating certain skills that are required in the labor market in the 21st century. Looking at the population structure of Mongolia, it is relatively young. Therefore, in order to take advantage of this opportunity and bring out more of Mongolia's resources, we intend to bring cooperation closer between the agencies of the United Nations system, such as International Trade Center, Economic and Social Commission for Asia and the Pacific, Development Program, and Food and Agriculture Organization, etc.
Mongolia has a lot of resources for renewable energy, especially solar and wind energy. It is sunny about 260 out of 365 days a year in Mongolia, so it is clearly a country with high potential for developing solar renewable energy. So, if the abundant support is provided, it will play significant role in reducing Mongolia’s energy dependence. Most importantly, we aim to implement these development trends in a green, inclusive and accessible manner. As a landlocked country, Mongolia faces many challenges in transport, logistics and infrastructure. 85 percent of Mongolia's total exports go to its southern neighbor. Also, China accounts for 75 percent of Mongolia’s imports.
Mongolia has digitalized about 600 of its government services. Although Mongolia is a landlocked country, people’s minds are not locked and the intellectual potential and resources are unlimited. Therefore, we pay particular attention to supporting the digital development in Mongolia by introducing innovations and inventions. On September 5-6, the UN Mongolia, in collaboration with the Ministry of Digital Development and Communications, organized the first-ever Global Digital Dialogue to exchange experiences from different countries on how to implement digital transformation strategies to an audience composed of the Member States, UN entities, private sector, international financial institutions and other key stakeholders.
The third and final pillar of the document is improving the people-centered governance, rule of law, and access to justice. It is formulated that the possibility of providing transparency in governance, reducing bribery, making services delivered by the government to citizens accessible and efficient, and developing in an environmentally friendly manner will be emphasized on this pillar.
Based on all the three pillars, we will work to support the Government of Mongolia in meeting the demands of the people and fulfilling the obligations and commitments to achieve the Sustainable Development Goals. Moreover, many projects and programs will be implemented in line with the SDCF under the leadership of the government and partnership with the stakeholders.
There is only 8 years left to ensure the realization of the Sustainable Development Goals. As we all know, the Government of Mongolia formulated and endorsed the Vision-2050 in 2020. How do you see the coordination between these two goals?
-In 2015, 192 member countries of the United Nations, including Mongolia, made a commitment to their people and the people around the world to fulfill the SDGs by 2030. Before Vision-2050, in 2016, the Government of Mongolia approved a development policy document until 2030. Thus, in 2020, a longer-term development document, Vision-2050, was approved. This is truly wonderful. Because Vision-2050 is a long-term policy that looks beyond 20 years in addition to the SDGs that must be achieved by 2030. There are only 7 and a half years left now to achieve the SDGs. Due to the short time left, we have evaluated our achievements within the framework of the United Nations Development Assistance Framework document and conducted a very good analysis and research on the state of national development in Mongolia. In this context, what achievements have been made, what lessons and things to learn have been identified very well. As everyone knows, due to the spread of the COVID-19 pandemic, we have faced severe social and economic challenges in the last 2 years, and we have had difficulties in some development levels.
How does the United Nations assess the implementation of Mongolia's Sustainable Development Goals? Is it possible for Mongolia to achieve this goal by 2030?
-We are making two main evaluations on the current progress of achieving the SDGs. First, a voluntary assessment at the national level, and secondly, an assessment of what citizens' understanding and opinions are about this. One was carried out in 2019 and the other is planned for 2023. So, after evaluating and assessing all the activities that have been done within the framework of the SDGs, we will have come up with a very clear picture of where Mongolia is going in this goal, whether it is lagging behind, and in which areas we need to support.
On the September 10, we organized an event at the Sukhbaatar Square to publicize the achievements of the SDGs. In addition to all UN agencies, all development partner organizations, the Government, ministries, and other stakeholders in Mongolia were present. We have set up 120 pavilions in Sukhbaatar square and presented the activities to fulfill 17 SDGs. In addition, organizations and individuals who made valuable contributions to the achievement of the SDGs were rewarded. Thus, we discussed the need to speedily and effectively continue our joint activities and targeted work.
Mongolia is facing many problems due to climate change. One of the solutions is the "One Billion Trees" national movement initiated by the President of Mongolia. The adverse effects of climate change and air pollution are increasing in Mongolia. Desertification is intensifying and land degradation is occurring. So, the ideal solution to all these problems is the above initiative. If enough trees can be planted, Mongolia will have a greener environment. In this way, it is believed that there will be many advantages, such as reducing the factors that negatively affect the environment, supporting and sustaining biological diversity, improving fresh water resources, reducing the extent of desertification, and controlling sand migration.
In general, it is concluded that Mongolia is yielding relatively well results in terms of SDGs. As we progress further, we intend to create sustainable development in Mongolia that is focused on human development and ensures participation without leaving anyone behind.
UN Mongolia and the Ministry of Digital Development and Communications jointly organized the first-ever Global Digital Dialogue. What was the key significance and the key achievements and outcomes of this global dialogue as far as you see?
-The dialogue generally focused on two main points. First, we focused on how to properly integrate technology to involve all citizens in the development process. As you all know, more than 600 government services have been digitalized as part of the digital development policy of the Government of Mongolia. The organization of the dialogue was a good opportunity for the key stakeholders to sit together to exchange their opinions and experiences. Thus, Mongolia was able to be recognized internationally as a leading country that has made great progress in the world through digital development, innovation and transition.
During this meeting, it became very clear that all UN agencies support the achievement of the goals set by the Government of Mongolia. When considering the program of the conference, we organized sessions for in-depth evaluation of the issues within the framework of the five main themes. The first key session focused on the theme of "Digital for Green" and was directed by the Food and Agriculture Organization of the United Nations. The second session of the dialogue touched on the topic "Digital transformation as an enabler to sustainable economic transformation and recovery." The third key session is about how to move forward without leaving anyone out and ensuring the participation of every citizen within the framework of this digital innovation and transformation. And the fourth session was on how to integrate modern technology to diversify and develop the economy. Within the fifth and the final session, we talked about how to develop digital development in a greener way. Thus, we made the progress of Mongolia known to the international community and shared our accumulated best experience and new ideas.
Representatives of India, Bangladesh, Korea and Japan participated in it. Also, the representatives of Singapore and Estonia, who introduced technology in the framework of governance very efficiently, rationally and successfully, shared their best practices. The most important objective of the dialogue was to learn from each other and come up with rational solutions. Thus, we were able to prove that Mongolia is one of the leading countries that is successfully working in the field of digital innovation and transformation on the international stage.
UN Secretary General Antonio Guterres visited Mongolia on August 8-11. What was the key results of this visit?
-The UN Secretary-General usually pays visit to countries that are in great crisis or that are considered essential to visit. We all know that Mongolia is not a country affected by a major crisis However, the UN Secretary-General's visit to Mongolia is a sign that the UN attaches great importance to Mongolia.
He repeatedly emphasized Mongolia's contribution to peace. Most importantly, the Secretary-General paid a visit to Mongolia to emphasize the important contribution of Mongolia to the international community in the framework of non-proliferation of nuclear weapons.
He highly praises Mongolia in two ways. Firstly, Mongolia has declared itself as a nuclear-weapon-free zone internationally, which greatly contributes to achieving the goals set by the UN and its member states in the direction of non-proliferation of nuclear weapons. Secondly, the Secretary-General’s visit was a token of his gratitude in recognition of Mongolia’s valuable contribution to establishing peace and security in the in the region. Of course, on the other hand, it was commended that Mongolia is making a good progress towards achieving the SDGs.
Another important thing that the Secretary General of the United Nations gave high importance to and emphasized favorably is that Mongolia organized the "Ulaanbaatar Dialogue" for many years in order to contribute to the security of Northeast Asia.
Mongolia also organized a major conference supporting female peacekeepers within the framework of the goal of promoting world peace and security. It was highlighted that this is an important contribution of Mongolia to establishing world peace. It was also emphasized that the United Nations in Mongolia and the Government of Mongolia are working together with all partner organizations to achieve the Sustainable Development Goals and are making progress towards the Sustainable Development Goals.
Is there anything you would like to say to the readers to end this interview?
- I would like to express that the UN Mongolia is committed to supporting the Government of Mongolia and the people of Mongolia and will fully cooperate with them in fulfilling their obligations and commitments towards achieving the SDGs.
The participation of every citizen in achieving the SDGs is very important. I would also like to urge all Mongolians to make contributions such as by saving energy, planting trees, recycling waste, etc. With the active engagement of the people, we can show the world that the SDGs can be achieved earlier.
Thank you
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EU expresses willingness to cooperate in combating desertification and soil degradation www.montsame.mn

On October 3, Prime Minister L.Oyun-Erdene received Ambassador Extraordinary and Plenipotentiary of Delegation of the European Union to Mongolia Axelle Nicaise.
At the outset of the meeting, Prime Minister L.Oyun-Erdene noted that expanding relations and cooperation with our third neighbor- the European Union, and its member states is one of priorities of our foreign policy, and emphasized that the implementation of the Mongolia-EU Partnership and Cooperation Agreement and the opening of the EU’s Delegation in Mongolia are boosting bilateral relations. He also expressed gratitude for the European Union's close cooperation with Mongolia during the difficult times of the pandemic, and for providing vaccine support and assistance.
“The Government of Mongolia has set a goal to develop air transportation within the ‘Revival of Ports’ of the ‘New Revival Policy’ which aims to create economic independence. In addition, Mongolia plans to declare next year as the year of promoting tourism, and in this context, the country is seeking to increase the number of flights to the EU countries. As part of its goal of getting out of energy dependence, it was stated in the New Revival Policy that major projects on creating new energy sources, including hydro power plants, and large-scale renewable energy projects will be implemented. The government is also paying attention to green development and the reduction of desertification. In this context, it is important to cooperate with the European Union and develop mutually beneficial economic cooperation,” said the PM.
Ms. Axelle Nicaise thanked the PM for audience and noted that the ‘New Revival Policy’ being implemented by the Mongolian Government is well-timed, in particular the port and energy revival policies fully meets the need of many countries and regions and are becoming a good example.
She also commended the Government’s intensive implementation of digitalization of public services, which began producing positive results. She emphasized that the EU is open to cooperate with Mongolia in combating desertification, soil degradation, and developing renewable energy.
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LET’S STRETCH A HELPING HAND TO THE PEOPLE OF PAKISTAN!? www.mongolianbusinessdatabase.com

It has been plenty of time passed since the natural disaster and flood in Pakistan, one of the family members called “World”.
If you have seen the recent news coverage, the United Nations and other international organizations have been emphasizing worldwide challenges as the natural disaster, related to global warming and climate change, is to affect all countries around the world, regardless of their location and economic development.
As a consequence of this disaster, one per 3 persons in Pakistan is under severe circumstances with the flood, specifically, a total of 33 million residents (including 16 million children) are struggling for shelters and homes, approx. 1600 residents passed away and the loss and damage to buildings and infrastructure have been counted as around USD 20 billion. So far today, the country is on the edge of 2nd wave of losses and damages with situations such as infectious disease, starvation, and poverty.
Because of these situations, we are going to organize a donation event, for the people of Pakistan and their financial and mental well-being and assistance. This special event, with the support of the Honorary Consul of Pakistan to Mongolia and Saade Group, is to be held on 12th October Wednesday, 2022.
We are calling you to participate in this event for a monetary donation (MNT 300,000) to be dedicated to this lifesaving aid. Please, refer to the attached invitation letter/ticket for detailed information on the program and others.
Please, be noticed that the donation amount, collected from this event, is to be transferred to the official aid agency via the Embassy of Pakistan in Beijing after a review of those donations by Intoor Account Audit LLC. Also, a special list of the corporates and individuals, who were engaged in this donation event, is to be made for supporting them, in the future, in creating collaboration with this country in terms of business, culture, and sports sectors. The Honorary Consul of Pakistan to Mongolia and the Embassy of Pakistan in Beijing are to demonstrate their special support for this mutual cooperation.
(Total population of Pakistan is 242 million; the country is ranked 24th worldwide for its GDP and is famous for its industry such as basmati rice, pink (Himalayan) salt, mango fruit, all types of dried fruits, nuts, woolen and textile goods industry such as carpet, silk, cotton etc.)
Please, contact us at 99066062 for any inquiry; monetary donations may be deposited to account # TDB 495107708 Ser Od Ichinkhorloo Pakistani Honorary Consul to Mongolia (please, specify your name, phone # and email address in the description).
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GS25 launches 100th outlet in Mongolia, eyes 500 stores by 2025 www.insideretail.asia

GS Group’s convenience store chain GS25 said Monday it has opened its 100th outlet in Mongolia since its entry into the East Asian country 16 months ago.
GS25 aims to expand the number of outlets in Mongolia to more than 500 by 2025 by launching more customized food products.
For its expansion in Asia, the company entered Vietnam in 2018 and currently operates 186 outlets in the Southeast Asian country.
BGF Retail’s CU was quick to enter the Mongolian convenience store market.
CU opened its 200th convenience store outlet in Mongolia in April as it seeks to strengthen its presence there.
Mongolia is seen as a promising market for Korean convenience store operators, with the number of people aged under 35 taking up more than 60 per cent of the total population.
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Mongolia confirms 107 COVID-19 cases in past 24h www.akipress.com

Mongolia confirmed 107 COVID-19 cases in past 24 hours.
55 of them were contacts in Ulaanbaatar, and 52 were recorded in the regions. No imported cases were found.
The number of coronavirus related deaths remained 2,131.
 
 
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Minsk Automobile Plants considering new supplies to Mongolia www.eng.belta.by

MINSK, 3 October (BelTA) – Minsk Automobile Plant is considering new supplies of machinery to Mongolia, BelTA learned from the press service of the enterprise.
Minsk Automobile Plant hosted representatives of the Ministry of Road and Transport Development of Mongolia. The delegation was led by head of the international transportation department Jargalsaikhan Endonsuren. The delegation studied the MAZ chassis assembly process on the main conveyor and expressed their interest in a more detailed study of MAZ passenger and special vehicles.
According to the press service, the company has already established contacts with Mongolia. For example, in the spring of 2021 MAZ delivered 42 units of special equipment to this country.
Minsk Automobile Plant (MAZ) is one of Belarus' largest mechanical engineering companies. It specializes in making heavy-duty trucks, special-purpose vehicles, buses, trolleybuses, and trailing units. MAZ vehicles are compliant with the environmental standards Euro-3, 4, 5, and 6. The company makes a total of over 500 models and 3,000 modifications of tractor units, dropside trucks, and chassis for mounting various kinds of equipment.
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Autumn session of Mongolian parliament opens amid economic woes www.xinhuanet.com

The autumn session of Mongolia's State Great Khural, the country's parliament, opened here on Monday amid economic woes.
"This autumn session is starting in the difficult time of global price increase and drastic changes in monetary and financial policy caused by pandemic and geopolitical tension," parliamentary speaker Gombojav Zandanshatar said at the opening ceremony of the session.
"Therefore, during the session, we need to focus more on the implementation of political and economic reforms and post-pandemic New Revival Policy in order to overcome the current social and economic challenges and pressing problems of the country," said Zandanshatar.
Mongolia's gross domestic product grew by 1.9 percent in the first half of 2022, which is relatively weak compared to the same period of years before the pandemic, he said.
The inflation rate has remained at double-digit levels for the past 10 months in the country, and the real incomes and wages of workers, households and businesses are decreasing due to price increases.
In addition, the country's current account deficit stood at 1.5 billion U.S. dollars as of late August, resulting in a 2-billion-dollar decrease in the country's foreign exchange reserves to 2.4 billion dollars.
 
 
 
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Chinese Steelmakers Turn Away From Coking Coal Risking Mongolia’s Key Earning www.mongoliaweekly.org

The launch of the Tavan Tolgoi rail line in mid-September was heralded as a win for coal exports to China. President Khurelsukh said it could lift exports to 50 million tonnes per year, up from 28.6 million tons in 2020 and just 15.9 million tons last year as truck routes were affected by pandemic-related border closures.
But some experts are warning that coking coal exports in particular will begin declining from the end of this decade as China increases its self-sufficiency in steel making, thanks to its improving ability to re-use scrap steel.
Coking coal is a primary ingredient in steel-making. According to Khangai Tserenraash – a co-founder of market intelligence firm Mira Mongolia – the next eight years could mark the peak of Mongolian coking coal exports, which will then begin to drop.
“The future of coking coal is not as bright as we thought a couple of years ago,” Tserenraash said to Mongolia Weekly.
“China’s green policies are already shifting the country’s technologies to use less coking coal in steel-making. It doesn’t look like Chinese steel consumption is going to rise. For Mongolia, that could potentially mean there won’t be a market for our coking coal.”
There are two main types of steel production: electric arc furnaces, which use an electric current to melt scrap steel and direct reduced iron to produce molten steel; and traditional blast furnaces, which melt coke, limestone and iron ore together to produce pig iron, which is then mixed with carbon to make steel.
Blast furnaces consume coking coal and currently account for the majority of Chinese steel production. But electric arc furnaces do not consume coking coal. These account for more than 70 percent of steel production in the United States and have the advantage of recycling existing steel and reducing carbon emissions.
“In the past five years, China has committed to reducing carbon emissions from steel production. They have shifted substantial portions of steel production capacity into electric arc furnaces,” Tserenraash says.
“Blast furnaces produce four times more carbon than electric arc furnaces, so the conversion is likely to accelerate as China increases its recycling targets in scrap steel. In five years, for example, there will be a 30 percent increase in China’s steel recycling target.”
Mongolia is more dependent on coking coal exports than any other country on the planet; 24 percent of total exports consist of coking coal, which directly translates into approximately 10 percent of total government revenue.
“There are a number of suppliers as well - trucking companies, explosives providers, equipment providers – who pay taxes and thus indirectly contribute to government revenue as well,” Tserenraash says. “So the true contribution is substantially larger.”
Teserenraash and Mira Mongolia say they are publicizing this risk to spark a discussion on alternatives for Mongolia.
“There is untapped potential in coal-bed methane, for example,” Tserenraash says. “We could bring in positive exploration and regulatory measures to encourage industry.
If China is reducing coking coal consumption, we could also target new markets such as India; their coking coal consumption is growing. We could also try and penetrate east coast Chinese markets with lower prices and higher quality coking coal.”
Tserenraash also points to several mining-dependent Australian states, that are looking to develop critical mineral industries and other forms of mining income.
“We don’t have the answer yet,” Tserenraash says. “But we need the government and the market to think about it now, because it could become a huge issue in the future.”
by Ewen Levick | Editor
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Central bank purchases 2.4 tons of precious metal in September www.montsame.mn

In September, the gold purchase of the Bank of Mongolia (BoM) was 2,416.4 kg, raising the BoM’s total precious metal purchase of 2022 to 15.0 tons. The figure shows an increase of 1 percent as compared with the same period of the previous year.
Since the beginning of this year, the BoM branches in Darkhan-Uul and Bayankhongor aimags have bought 1,695.7 kg and 1,046.9 kg of precious metals respectively.
In September, the average price of BoM’s purchase of 1 gram of gold was MNT 184,565 last month.
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Central Bank to finance 80 percent of mortgage loan www.montsame.mn

Bank of Mongolia made the following amendments to the regulation on mortgage loans. Therein:
The Bank of Mongolia will finance 80 percent of the total funds for the mortgage program, and commercial banks will provide the remaining 20 percent starting this October.
The increased amount of a loan to be issued through the source of BoM does not exceed MNT150 million in Ulaanbaatar and MNT100 million in rural areas starting from October 1, 2022.
It was decided that If families moving to rural areas get a mortgage loan with an annual interest rate of 6 percent, the Loan Guarantee Fund can give a guarantee on a certain part of their 30 percent advance payments
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