1 RUSSIA PROPOSES NUCLEAR POWER PLANT & URANIUM MINING PROJECTS FOR MONGOLIA WWW.RUSSIASPIVOTTOASIA.COM PUBLISHED:2026/01/04      2 HUNNU CITY AS AN URBAN CONSTELLATION FOR MONGOLIA’S 2050 VISION WWW.PARAMETRIC-ARCHITECTURE.COM PUBLISHED:2026/01/04      3 MONGOLIA'S CENTRAL BANK PURCHASES 16.3 TONS OF GOLD IN 2025 WWW.XINHUANET.COM PUBLISHED:2026/01/03      4 MONGOLIA'S FOREX RESERVES REACH RECORD HIGH IN 2025 WWW.XINHUANET.COM PUBLISHED:2026/01/03      5 MONGOLIA LEADS WORLD RANKINGS IN MEMORY, MIND SPORTS WWW.MONTSAME.MN PUBLISHED:2026/01/03      6 MONGOLIA EXTENDS VISA EXEMPTION POLICY FOR 34 COUNTRIES BY ONE YEAR WWW.VISASNEWS.COM PUBLISHED:2026/01/02      7 MONGOLIA AND CHINA HAVE ERECTED MORE THAN 4.700 KILOMETERS OF BORDER FENCES TO CONTAIN LIVESTOCK, CURB PASTURE DEGRADATION, AND TRANSFORM THE GRASSLAND INTO A PERMANENT ECOLOGICAL BORDER OF TERRITORIAL SOVEREIGNTY WWW.EN.CLICKPETROLEOEGAS.COM.BR  PUBLISHED:2026/01/02      8 CHINA TIGHTENS EXPORT CONTROLS ON SILVER, STEEL, ANTIMONY WWW.CHOSUN.COM PUBLISHED:2026/01/02      9 MAYOR REPORTS ON CONSTRUCTION PROJECTS TO BE IMPLEMENTED IN 2026 WWW.MONTSAME.MN PUBLISHED:2026/01/02      10 AI CAMERAS BEGIN DETECTING TRAFFIC VIOLATIONS, ISSUING FINES WWW.MONTSAME.MN PUBLISHED:2026/01/02      МОНГОЛБАНК 16.3 ТОНН ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2026/01/03     МОНГОЛЫН АГААРЫН ТЭЭВРИЙН ШИНЭ ҮЕ: 2026 ОНД АЗИ, ЕВРОП, ХОЙД АМЕРИК РУУ ШИНЭ ЧИГЛЭЛҮҮД НЭЭНЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/03     58.1 САЯ ТОЛГОЙ МАЛ ТООЛОГДЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/03     ШЕЗ-ИЙН ДАРГААР П.ЗОЛЗАЯАГ СОНГОЖЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/03     ТУУЛЫН ХУРДНЫ ЗАМЫН БҮТЭЭН БАЙГУУЛАЛТЫН БАРИЛГЫН АЖЛЫГ ГУРАВДУГААР САРД ЭХЛҮҮЛНЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/03     ШАРХАД, БАЯНХОШУУНД ТУС БҮР 110 АЙЛЫН НОГООН ОРОН СУУЦЫГ АШИГЛАЛТАД ОРУУЛЛАА WWW.GOGO.MN НИЙТЭЛСЭН:2026/01/02     МИЛЛЕР: “СИБИРИЙН ХҮЧ–2” ХИЙН ХООЛОЙН ТӨСЛИЙГ ХУГАЦААНААС НЬ ӨМНӨ АШИГЛАЛТАД ОРУУЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/02     ТӨСӨЛ: ЖИЛИЙН 400 САЯ ТӨГРӨГ ХҮРТЭЛХ БОРЛУУЛАЛТЫН ОРЛОГОТОЙ БОЛ НӨАТ-ЫГ ХЯЛБАРШУУЛСАН ГОРИМООР ТАЙЛАГНАДАГ БОЛНО WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/02     МОНГОЛ УЛС АЯЛАЛ ЖУУЛЧЛАЛЫН СЭРГЭЛТИЙН ҮЗҮҮЛЭЛТЭЭР ДЭЛХИЙН ШИЛДЭГ 20 УЛСЫН ТООНД БАГТЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2026/01/02     ОЙ ТОГТООЛТЫН СПОРТЫН ДЭЛХИЙН ЧАНСААГ МОНГОЛЫН ТАМИРЧИД ТЭРГҮҮЛЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2026/01/02    

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2025 London UK MBCCI London UK Goodman LLC

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Mongolia's top court blocks bid to oust prime minister, deepening political deadlock www.reuters.com

BEIJING, Oct 23 (Reuters) - Mongolia's top court ruled that a parliamentary vote to oust the prime minister was unconstitutional, a move analysts say could lock the coal-rich country into years of further political turmoil as factions in the ruling party feud over the economy.
The Constitutional Court on Wednesday evening said a motion passed by the State Great Khural or parliament last Friday to dismiss Prime Minister Zandanshatar Gombojav had no legal basis, China's state broadcaster reported on Thursday. Mongolia's official news agency, Montsame, has not yet reported on the decision.
The court sided with President Khurelsukh Ukhnaa, who on Monday vetoed the parliament's resolution to dismiss Zandanshatar, citing procedural irregularities, including the use of an "incorrect voting formula."
Zandanshatar, nominated by President Khurelsukh and named as prime minister in June, is expected to be able to fend off reformists within the Mongolian People's Party led by former parliamentary speaker Amarbayasgalan Dashzegve, said Xu Tianchen, a senior analyst at the Economist Intelligence Unit.
Zandanshatar is seeking to push through a more conservative economic policy ahead of the next election in 2027, resisting calls for stronger anti-corruption measures and progressive taxation.
But the confrontation could lead to an economically damaging policy stalemate, analysts say, worsening a cost-of-living crisis and delaying efforts to diversify the economy beyond mining, as government instability hampers long-term planning and deters foreign investment.
The Mongolian People's Party also faces pressure to address public discontent over allegations that government officials misappropriated state funds and were engaged in corruption.
Those concerns sparked large-scale street protests in urban centers, including the capital Ulaanbaatar, which ultimately prompted parliament to vote to remove Prime Minister L. Oyun-Erdene four months ago.
"I'm afraid that the turbulence will last until 2027, as the factional conflict within the Mongolian People's Party continues," said Xu.
"President Khurelsukh has tried to defend his people, but his influence will diminish as he approaches the end of his presidency," he added. "Amarbayasgalan and his fellows will try hard to dominate the political landscape."
But look, the tariffs are much more powerful than the rare earth.
Reporting by Joe Cash, Xiuhao Chen, Liz Lee and Shanghai newsroom; Editing by Muralikumar Anantharaman and Lincoln Feast.

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Mongolia’s PM to stay in power after court rules dismissal illegal www.intellinews.com

Mongolia’s nine-member Constitutional Court announced late on October 22 that a parliamentary resolution to dismiss Prime Minister Zandanshatar Gombojav was illegal. Court member O. Monkhsaikhan confirmed the ruling after a closed-door session, local media reported.
The court ruling follows a presidential veto of the parliamentary vote announced on October 20. President Khurelsukh Ukhnaa’s office said the vote to remove Zandanshatar was invalid because a quorum was not present when Parliament began deliberating the matter.
The court decision and the presidential ruling cap a tumultuous week in Mongolia. In addition to the move to oust Zandanshatar, the Speaker of Parliament, Amarbayasgalan Dashzegve, resigned from his position last week.
The crisis stems from a power struggle between Amarbayasgalan and Zandanshatar and the factions behind them. In September, Zandanshatar lost the leadership of the ruling Mongolian People’s Party (MPP) to Amarbayasgalan and later accused the speaker of being connected to corruption in the coal industry.
Amar Adiya, publisher of the online newsletter Mongolia Weekly, said the pro-speaker group “rushed and sloppily handled the motion.” He does not expect a second attempt to vote out Zandanshatar. If the current situation holds, it will allow the government to pass a badly needed spending budget for the coming year.
“It closes the issue for now,” said Amar. “A relief for Zandanshatar loyalists and [it] ensures a sort of government stability, temporarily at least.”
The crisis roiling the MPP could come to a head—or be resolved—when the party meets for a congress in mid-November. Mongolians and observers will watch the proceedings carefully as the factions within the party look to resolve their issues.
“A resolution seems unlikely unless both parties are willing to compromise and put aside their pride,” said Amar. “As things stand, a significant sacrifice is needed to break the impasse.”
By Michael Kohn

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Government to Provide Concessional Loans to Support Fuel Stockpile www.montsame.mn

 During its regular session on October 22, 2025, the Cabinet of Mongolia decided to increase the country’s fuel reserve to 30 days and to provide concessional loans to enterprises to achieve this goal.
As part of efforts to boost reserves, the Cabinet instructed Minister of Finance of Mongolia Javkhlan Bold and Minister of Industry and Mineral Resources of Mongolia Damdinnyam Gongor to arrange financing for the working capital needs of companies responsible for maintaining mandatory fuel reserves under Government Resolution No.134 of 2024. The required funds will be provided as concessional loans, with interest subsidies to be covered from the Government’s reserve fund.
Minister Damdinnyam stated today that fuel supply remains stable. “In recent days, consumption has doubled. Ulaanbaatar normally consumes 950–1,200 tons of fuel per day, but currently 1,800–2,000 tons are being supplied,” he said.

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Erdenes Tavantolgoi Exports 21 Million Tons of Coal in 10 Months www,montsame.mn

 “Erdenes Tavantolgoi” JSC has exported 21 million tons of coal as of October 22, supported by enhanced sales strategies, streamlined shipping, and improved transport logistics.
Of the total volume, 20.5 million tons were exported via Gashuunsukhait Port, the company’s primary gateway for coal shipments. An additional 0.5 million tons were transported through Khangi Port, a newer facility equipped with a dedicated railway line completed in late 2022.
On October 18 alone, 406 vehicles were dispatched – marking the highest single-day export volume recorded this year.
Amid growing demand for coal in China, the share of coal sold through the stock exchange rose from 28 percent in January to 40 percent by October 2025.

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World Bank Backs Mongolia's Power Grid Upgrade www.miragenews.com

In a significant step to strengthen Mongolia's electricity infrastructure, the World Bank has approved a new project designed to bolster electricity service reliability and security, and support the country's transition to a low-carbon energy future. The Fourth Energy Sector Project will focus on increasing the capacity and reliability of the Central Energy System's transmission grid while promoting the integration of renewable energy sources.
"The World Bank is pleased to continue supporting the Government of Mongolia in its efforts to strengthen the reliability and sustainability of the country's electricity system," said World Bank Country Manager for Mongolia Taehyun Lee. "This project will help advance Mongolia's low-carbon development goals while supporting inclusive economic growth and job creation."
Closely aligned with Mongolia's New Recovery Policy and Government Action Plan for 2024-2028, the project will support the construction of a 220 kV transmission line from the existing Mandal Substation to the new Uvurkhangai Substation, the expansion and development of existing and new power substations in Mandalgovi, Arvaikheer and Bayankhongor, and associated 110kV connection lines.
These investments are expected to improve access to reliable electricity services for about 200,000 people in the Central and Western Regions. Over 590MW of increased transmission capacity would reduce electricity outages by about 50 percent in the project areas and enable the development and integration of about 150MW of wind and solar PV in the electricity system. Climate proofing measures will be implemented in the construction of transmission lines and power substations to enhance their resilience.
The Fourth Energy Sector Project is backed by US$78 million from the World Bank's International Bank for Reconstruction and Development. It is part of the World Bank's Accelerating Sustainable Energy Transition Multi-Phase Programmatic Approach which aims to accelerate the scale-up and grid integration of renewable energy in participating countries across the East Asia and the Pacific region.

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117mln trees planted in Mongolia under ‘Billions of Trees’ campaign www.qazinform.com

As part of the Billions of Trees national movement initiated by the President of Mongolia, the National Tree Planting Days campaign is underway across the country until the end of October 2025, Montsame reported.
Over the past weekend, more than 2,500 volunteers from 225 public and private organizations planted around 3,500 trees and seedlings of 12 species at three sites in Ulaanbaatar.
In the National Garden Park, 65 organizations planted 500 trees and 1,500 shrubs.
In the International Garden of Mongolia, 50 organizations planted another 500 trees and 1,500 shrubs.
At New Nalaikh Park, 90 organizations contributed 500 trees and 500 shrubs.
Secondary school students are also actively participating in the Autumn Tee Planting Days. More than 18,000 organizations, businesses, and citizens have planted over two million trees this season countrywide. Tree planting and sapling fairs have been held in aimags, soums, and districts to support the initiative.
Earlier this year, during the spring planting season, over 3,400 organizations and 185,000 citizens planted 8.4 million trees. Since the launch of the movement, officials report that 117 million trees have been planted and successfully grown across the country.
Looking ahead, it is estimated that by 2030, large mining companies will plant 608 million trees, while aimags and the capital city are expected to contribute more than 680 million.
Under Presidential Decree No. 58 issued in 2021, all citizens are encouraged to plant, care for, and grow trees every spring and autumn.

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Mongolia's measles cases surpass 13,000 www.xinhuanet.com

The total number of measles cases in Mongolia has increased to 13,532, the country's National Center for Communicable Diseases (NCCD) said Wednesday.
Meanwhile, the total number of recoveries has reached 13,514. Currently, seven people remained in hospital, the NCCD said in a statement.
The majority of new measles infections were among school-age children who had only one shot of the measles vaccine, it said.
In view of this, the NCCD advised parents to protect their children from a potentially severe disease by getting them two doses of the measles vaccine.
Measles is a highly contagious viral disease transmitted by respiratory droplets and direct contact.
Common complications include fever, dry cough, runny nose, sore throat and inflamed eyes. The disease can be prevented by immunization.

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Tugrug Deposits Increase While Foreign Currency Savings Decline www.montsame.mn

As of the end of September 2025, tugrug-denominated deposits totaled MNT 23.5 trillion, an increase of 13.8 percent, or MNT 2.9 trillion, from the same period of 2024, and up 2 percent, or MNT 456.1 billion, from the previous month.
Of the total tugrug deposits, 86.1 percent, or MNT 20.2 trillion, belonged to individuals, while 13.9 percent, or MNT 3.3 trillion, was held by enterprises and organizations.
Meanwhile, foreign currency deposits totaled MNT 5.3 trillion, an increase of 18.4 percent, or MNT 819.6 billion, from a year earlier, but a decrease of 2.9 percent, or MNT 157.4 billion, from the previous month, according to the National Statistics Office.
Additionally, the amount of cash in circulation reached MNT 1.2 trillion during the same period, representing a decrease of 3 percent, or MNT 37.6 billion, from a year earlier and 1.2 percent, or MNT 14.7 billion, from the previous month.

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Eighth pillar of cable car system installed www.gogo.mn

Construction of a new cable car system on the Yarmag–Kharkhorin route, designed to ease traffic in the western and southern parts of the capital, is progressing steadily. The Construction work began in March, 2025 and the project is scheduled to enter full operation in October, 2026. Officials expect the system to carry about 18% of traffic along this corridor when complete.
The first line will run through the Yarmag–Artsat–Unur area, with a second line planned toward the National Park–National Amusement Park direction. Construction of the first line is proceeding on schedule: pillar installation and station construction are under way, and today the eighth pillar was installed. The project calls for a total of 19 pillars.
Concrete pouring for the project is due to finish by October 30. Once the foundations are complete and have passed a 28-day curing period, the metal superstructure can be erected quickly, engineers estimate the metal sections can be installed within two days per span. As of today the foundations are 75% complete, and installation of all support towers is scheduled to finish in November.
Work on systems and interiors, plumbing, heating, ventilation, fit-out of reception buildings, and communications and signaling, is planned to begin in January, 2026.

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Asian Battery Metals Unlocks Mongolia’s Copper-Nickel Potential with BHP Backing and High-Grade Discoveries www.cruxinvestor.com

Asian Battery Metals (ASX:AZ9) is positioning itself as an emerging critical minerals developer in Mongolia, capitalising on the country's rich copper endowment and strategic location adjacent to major Asian consumption markets. Led by Managing Director Gan-Ochir Zunduisuren, a mining engineer and finance professional with over 22 years of experience including roles at Aspire Mining and on the board of Rio Tinto's Oyu Tolgoi copper operation, the company has assembled a portfolio of copper, nickel, and gold projects in southwestern Mongolia. With approximately A$30 million in market capitalization and A$7-8 million deployed in exploration to date, Asian Battery Metals represents an early-stage opportunity in a jurisdiction that has seen significant development over the past 15 years.
Leadership and Strategic Positioning
Ochir brings substantial in-country experience to Asian Battery Metals, having worked across exploration, gold mining operations, and coal projects in Mongolia for two decades. The board includes David Paull , former managing director of Aspire Mining for 10 years; Neil Young, pioneer of coal bed methane exploration in Mongolia and former CEO of Elixir Energy; and Kirsten Livermore, former Australian parliamentarian who led the Australia-Mongolia bilateral government program. This combination of technical, operational, and diplomatic expertise positions the company to navigate Mongolia's mining sector effectively. As Ochir stated, 
"We have quite strong experienced people to promote Mongolia as an investment destination."
The company's strategic focus on southwestern Mongolia aligns with what Ochir describes as "the extension of the Central Asian orogenic belt," a geological structure that hosts copper operations in Kazakhstan, northwest China, and parts of Russia. This geological understanding underpins the company's exploration strategy and its confidence in discovering multiple deposits that could eventually share infrastructure. Mongolia's emergence as a mining destination has accelerated since the late 2000s, with Ochir noting, "
“Over the last 15 years almost 20 to 30 new mines opened up. So it's almost two new mines every year."
Oval: The Flagship Copper-Nickel Discovery
The Oval project represents Asian Battery Metals' most advanced asset and exemplifies the company's conceptual exploration approach. Developed from concept stage, Oval was selected for BHP's Xplor program in 2023, one of seven companies chosen globally from 250 applicants and the only Asian company selected. BHP provided $500,000 USD in funding, which the company used to initially discover the project and prove the concept of magmatic mafic intrusion related copper nickel sulfide system. This validation from a major mining company provided both financial support and technical credibility for the discovery.
Exploration at Oval has progressed through three phases of drilling, supported by extensive geophysical surveys including ground electromagnetic (EM) and downhole EM programs designed to measure conductivity and identify sulphide mineralization. The company has established approximately 800 meters of continuous to semi-continuous mineralization at surface, with widths ranging from 50 to 80 meters depending on location. Mineralization begins at surface and dips to the southeast, extending to depths of 200-220 meters in most areas, with recent drilling in hole 32 intercepting "very textured sulfide mineralization at 290 meter level," suggesting potential for deeper extensions.The geological model at Oval centers on a bladed dyke system where mafic to ultramafic intrusions created multiple mineralization styles. Ochir explained: 
"On the top part we have disseminated mineralization and in the middle we have slightly enriched net textured and then in the bottom part we have massive sulfide". 
Host rocks vary from gabbro to olivine-rich amphibole cumulates, approaching peridotite composition precisely the type of rocks that can host economic nickel-copper sulphide deposits. The exploration strategy now focuses on identifying feeder conduits that could lead to larger chambers where sulphide-bearing magma accumulated in open spaces, potentially hosting higher-grade zones.
Metallurgical Results Demonstrate Economic Potential
Metallurgical test work at Oval has produced encouraging results that support the project's economic viability. The company tested three ore types: disseminated, net-textured, and massive sulphide mineralization. Results from the first two samples showed copper recovery rates of 89-95%, with concentrate grades ranging from 18.5-24%. These are "very good recovery rates" and "marketable grade concentrate for copper," according to Ochir, putting Oval's metallurgical characteristics in line with established copper operations. Nickel recovery remains under optimization, with final processing of massive sulphide samples expected to be completed within 2025.
The company is conducting detailed mineralogical work with laboratories in Japan and Australia, complemented by consultants from the University of Tasmania and University of Leicester. This work will inform process flowsheet design and assess deleterious elements in the final concentrate mix. The potential for byproduct credits from platinum group elements (PGEs) remains under investigation and could enhance project economics. Ochir emphasised the systematic approach: 
"Most of our mineralogy work gets done in Japan and also in Australia. Based on that work, we usually try to model it."
Interview with Gan-Ochir Zunduisuren, Managing Director of Asian Battery Metals PLC
Regional Exploration: MS1 and Satellite Targets
Beyond the immediate Oval deposit, Asian Battery Metals is advancing regional targets that could expand the resource base and support a hub-and-spoke infrastructure model. The MS1 prospect, located six kilometers south of Oval, represents a blind geophysical target where recent drilling intercepted similar host rocks with visual sulphide mineralization. While not yet at economic grades, the discovery confirms "the rock that you are really expecting," providing what Ochir describes as "quite exciting for geologists because the odds are quite remarkable". The geophysical signature at MS1 is "potentially larger than Oval," suggesting significant exploration upside.
The company has expanded its ground position to cover a large aeromagnetic anomaly south of MS1, which may represent "the source or larger intrusion system that are potentially related with the Oval". Additional prospects including Copper Ridge and  Bayan Sair are being evaluated as part of this regional approach. The exploration philosophy emphasises identifying "trap zones where enrichment occurs" within these larger intrusive systems. This cluster concept is central to Asian Battery Metals' strategy, as Ochir explained: 
"We are looking at potentially multiple prospects that could use the same infrastructure down the road for development."
Maikhan Uul: VMS Copper-Gold Opportunity
The Maikhan Uul project adds diversification to Asian Battery Metals' portfolio with a different geological model a volcanogenic massive sulphide (VMS) system hosting copper and gold mineralization. Located just eight kilometers from Oval, Maikhan Uul could potentially share infrastructure in a future development scenario. The company is currently in an exclusive agreement to acquire the project within the next four months, conducting technical due diligence through drilling and geophysics. Historic drilling identified massive sulphide mineralization, which Asian Battery Metals confirmed through twinning a historic hole.
The recent drilling at Maikhan Uul intersected more than 20 meters of massive sulphide mineralization with visual chalcopyrite, confirming historic results of approximately 1.7% copper and close to 1 gram per tonne gold. The system contains two separate mineralization zones: a shallower gold zone at approximately 30 meters depth with historic intercepts of 5.69 meters grading more than 15 g/t gold, and deeper massive sulphide mineralization at 130-140 meters depth. The shallow gold zone appears "related with the breccia zone with iron oxide, could be slightly enriched because of supergene enrichment”, though further work is required to understand its full extent.
Maikhan Uul sits within the Rudny Altai geological belt that extends from Kazakhstan into southwestern Mongolia, a region known for hosting multiple VMS systems. Ochir noted: 
"There's potential for VMS projects in that region of course and around the Maikhan Uul area there are a number of VMS prospects that potentially some of them could be an extension of the Maikhan Uul."
The next phase of work will focus on understanding whether the massive sulphide extends laterally or continues at depth, and assessing any structural controls that may have offset mineralization. One additional hole is planned to establish geological continuity before completing the acquisition.
Development Strategy and Economic Thresholds
Asian Battery Metals operates with a clear vision of what constitutes an economically viable project in its jurisdiction. With a current market capitalization of approximately A$30 million, the company recognises its size constraints and the importance of high-grade components to generate margins. Ochir articulated the strategic goal: 
"More than 20 million tons of economic resources or potentially producing 50,000 tons of metals in one or other form."
The multi-project cluster approach is deliberate, designed to support "centralised processing plant for these projects" where multiple deposits feed a single processing facility over an extended mine life. This model can significantly improve project economics by spreading capital costs across multiple ore sources and extending the period over which initial investment is amortised. Ochir emphasised this is "not here just to drill it" but rather to "define potentially economic resources that can become a mine in the future". The company evaluates projects on accessibility, infrastructure development, and whether resources can be "easily mined or developed" without creating excessive financial burden.
Mongolia: A Maturing Mining Jurisdiction
Mongolia's evolution as a mining jurisdiction over the past 15 years provides crucial context for Asian Battery Metals' strategy. The country has seen substantial infrastructure improvements and legal framework maturation, with Ochir noting that "mining itself is interdisciplinary" and requires not just mining law but also "environmental laws, water usage laws, how you work with other stakeholders and communities". This comprehensive regulatory framework has been "witnessed by the development of median to large size mining operations" with 20-30 new mines opening over 15 years.
The country's transformation is exemplified by coal exports, which grew from 5 million tons 15 years ago to over 80 million tons currently, including brown coal, a commodity "any country globally sells or exports," according to Ochir. This demonstrates that 
"If the project is commercially viable and cost competitive against Chinese domestic producers there's a good merit that these projects can become mine."
For copper projects specifically, Mongolia is home to Oyu Tolgoi, operated by Rio Tinto and described as "probably the single largest copper operation that was built as a new mine in the last 15 years globally". Financing options in Mongolia are diverse, providing multiple pathways for project development. Ochir explained: 
"There are a number of mines built in Mongolia over the last 15 years. Some of them funded by international financial institutions, some of them funded by domestic banks, some of them funded by Chinese institutions". 
The mature contractor mining sector, developed to support the coal industry, provides substantial earth-moving capacity at competitive rates. Proximity to Chinese markets also facilitates offtake financing, an advantage Ochir emphasised: "Closer to the market means we can always tap into funding related to offtakes quite easily."
The Investment Thesis for Asian Battery Metals
BHP-validated discovery: Selection for BHP Xplor program (1 of 7 globally, only in Asia) provides third-party technical validation and $500,000 USD in exploration funding
Strong metallurgical results: 89-95% copper recovery with 18.5-24% concentrate grades at Oval positions the project within industry benchmarks for economic viability
Scale potential: 800-meter strike length at Oval with 50-80 meter widths, plus regional targets (MS1, Copper Ridge,  Bayan Sair) support multi-deposit cluster concept that could share infrastructure
Diversified portfolio: Combination of magmatic copper-nickel system (Oval) and VMS copper-gold system (Maikhan Uul) provides multiple value drivers and reduces exploration risk
Experienced management: 20+ years of in-country experience including board position at Rio Tinto's Oyu Tolgoi operation, plus board members with established Mongolia track records
Jurisdiction maturation: Mongolia has opened 20-30 new mines in 15 years with improved infrastructure, legal framework, and multiple financing pathways including international institutions, domestic banks, and Chinese offtake financing
Strategic location: Projects located in southwestern Mongolia along the Central Asian orogenic belt that hosts major copper systems in Kazakhstan and China, with direct access to Asian consumption markets
Capital efficiency: A$5-6 million deployed at Oval has established significant mineralised footprint, demonstrating efficient exploration expenditure relative to discovery scale
Near-term catalysts: Completion of Maikhan Uul acquisition, final metallurgical results on massive sulphide ore, 2026 exploration program announcement, and potential resource drilling at Oval
Hub-and-spoke potential: Eight-kilometer spacing between Oval and Maikhan Uul, plus additional satellite targets, supports centralised processing model that could enhance project economics through shared infrastructure
Macro Thematic Analysis
The global energy transition is driving unprecedented demand for copper, nickel, and other battery metals as electrification accelerates across transportation, power generation, and industrial applications. Mongolia's geological endowment positions it as a strategic supplier to Asian markets, particularly China, which dominates global battery manufacturing and electric vehicle production. 
The country's maturation as a mining jurisdiction evidenced by Rio Tinto's Oyu Tolgoi copper mine and the opening of 20-30 new operations over 15 years demonstrates that capital, expertise, and infrastructure are flowing into the region. Asian Battery Metals' portfolio of copper-nickel and copper-gold projects directly addresses critical mineral supply constraints identified by major economies, while its proximity to end markets reduces logistics complexity and enhances competitive positioning. 
TL;DR
Asian Battery Metals (ASX:AZ9) is advancing BHP-validated copper-nickel and copper-gold projects in Mongolia with metallurgical test work demonstrating 89-95% copper recovery and strong concentrate grades. The flagship Oval project shows 800 meters of continuous mineralization with regional targets supporting a hub-and-spoke infrastructure model, while the company's experienced management team and Mongolia's maturing jurisdiction provide multiple pathways to development financing. With A$30 million market cap and A$5-6 million invested at Oval, the company offers leveraged exposure to critical minerals demand at China's doorstep.

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