1 MONGOLIA RECORDS USD 16.6 BILLION IN TRADE WWW.MONTSAME.MN PUBLISHED:2025/09/11      2 GOVERNMENT REPORTS OPERATIONAL IMPROVEMENTS AT ERDENES TAVANTOLGOI UNDER SPECIAL REGIME WWW.MONTSAME.MN PUBLISHED:2025/09/11      3 DIESEL LOCOMOTIVE CONVERTED TO HYBRID LOCOMOTIVE IN MONGOLIA WWW.RAILLYNEWS.COM  PUBLISHED:2025/09/11      4 MONGOLIA REVEALS ITS UNTAMED BEAUTY AND RICH CULTURE THROUGH THE EYES OF DUTCH TOURISTS ON AN UNFORGETTABLE ADVENTURE WWW.TRAVELANDTOURWORLD.COM  PUBLISHED:2025/09/11      5 ROBOTIC MILITARY DOG TRAINING FEATURED IN CHINA-RUSSIA-MONGOLIA BORDER DEFENSE EXERCISE WWW.NOVINITE.COM  PUBLISHED:2025/09/11      6 MONGOLIA DEPLOYS 15TH BATTALION’S SECOND CONTINGENT TO UN MISSION IN SOUTH SUDAN WWW.MONTSAME.MN PUBLISHED:2025/09/11      7 THE MONGOLZ RANKINGS RISE TO SECOND WORLDWIDE WWW.MONTSAME.MN PUBLISHED:2025/09/10      8 CHABOT MOBILITY JOINS MONGOLIA VOYAGER PROJECT TO EXPORT K-MOBILITY INFRASTRUCTURE WWW.BIZ.CHOSUN.COM  PUBLISHED:2025/09/10      9 "OYUT" COPPER DEPOSIT WITH 1.1 MILLION TONS OF PURE COPPER DISCOVERED WWW.GOGO.MN PUBLISHED:2025/09/10      10 CHINA-RUSSIA-MONGOLIA BORDER DEFENSE COOPERATION 2025 JOINT EXERCISE KICKS OFF WWW.ENG.CHINAMIL.COM.CN  PUBLISHED:2025/09/10      ЗАСГИЙН ГАЗРЫН WWW.D-GOV.MN ЦАХИМ СИСТЕМ ӨНӨӨДРӨӨС АЖИЛЛАЖ ЭХЭЛЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/11     ТӨМӨРТЭЙН ОВООНЫ ЦАЙРЫН ОРДЫН ТУСГАЙ ЗӨВШӨӨРЛИЙГ АЛБАН ТУШААЛТНУУД ХУВИЙН КОМПАНИДАА ШИЛЖҮҮЛЭН АВСАН ҮЙЛДЛИЙН УЛМААС ТӨРД УЧРУУЛСАН ХОХИРЛЫГ НЭХЭМЖЛЭХЭЭР БОЛОВ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/09/11     ТӨСВИЙН АЛДАГДАЛТАЙ АЛБАН ТУШААЛТНЫГ ЧӨЛӨӨЛНӨ WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/11     ДҮҮЖИН ЗАМЫН ТЭЭВЭР ТӨСӨЛД 2 ТЭРБУМААР ЗӨВЛӨХ ҮЙЛЧИЛГЭЭ АВНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/11     ИПОТЕКИЙН БАНК БАЙГУУЛАГДАХААС ӨМНӨ САНХҮҮЖИЛТИЙГ ЗАСГИЙН ГАЗАР РУУ ШИЛЖҮҮЛНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/09/10     Р.ЧИНГИСИЙГ ДОТООДЫН ЦЭРГИЙН ЕРӨНХИЙ КОМАНДЛАГЧААР ТОМИЛНО WWW.NEWS.MN НИЙТЭЛСЭН:2025/09/10     БИРЖИЙН НҮҮРСНИЙ ЭКСПОРТ 739 МЯНГАН ТОНН БОЛЖ, ӨМНӨХ САРААС ХОЁР ДАХИН ӨСЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/10     “ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК НҮҮРС БАЯЖУУЛАХ ҮЙЛДВЭРЭЭС ГАРЧ БУЙ ХАЯГДАЛ НҮҮРСИЙГ ДАХИН БОЛОВСРУУЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/09/10     ХАЛЗАН БҮРЭГТЭЙН ОРДЫН АСУУДЛААРХ СОНСГОЛД ХОВДООС 50 ХҮН ОРОЛЦУУЛАХ ХҮСЭЛТ ГАРГАЖЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/09/10     “УЛААНБАДРАХ 300 МВТ ЦАХИЛГААН СТАНЦ” ТӨСЛИЙН ТЭЗҮ-ИЙГ МЭРГЭЖЛИЙН ЗӨВЛӨЛӨӨР ХЭЛЭЛЦҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/09/10    

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

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China’s largest natural uranium project produces its first barrel www.notebookcheck.net

China National Nuclear Corporation (CNNC) announced the production of its first barrel of natural uranium from the country’s largest in-situ recovery (ISR) mining project, located in Ordos, Inner Mongolia. This marks a very relevant step in the nuclear energy strategy of the country, highly dependent on imports.
The 'National No. 1 Uranium' (as it has been denominated) demonstration project marks an important achievement for its operational and environmental efficiencies. 
The Ordos site uses CO2 + O2 in-situ leaching, instead of the conventional uranium mining, which involves excavation and a significant environmental impact. This process consists of dissolving uranium directly underground and circulating it to the surface through a closed-loop system. This way, solid, liquid, and gas waste are reduced.
The company described the project as a "third-generation smart uranium mine", thanks to remote-controlled extraction, automated systems, and real-time digital monitoring, allowing technical viability of the extraction. Previously, the deposit was deemed as unviable, due to the challenges that sandstone uranium deposits pose for extraction.
The pilot demonstration of the 55-gallon barrel of uranium production marks the transition from construction to active demonstration mining; however, the mine is not in full operation yet. To date, CNNC has not presented an official expected date for full commercial operation of the mine.
“Once fully operational, the project will provide a solid resource foundation for national energy security and the advancement of the nuclear industry, while significantly enhancing the international competitiveness of China's natural uranium sector,” commented CNNC.
The success of the pilot and the project plays a strategic role in reducing China’s dependence on imported uranium, which currently accounts for the majority of the country’s supply, mainly coming from Kazakhstan (66%) and Namibia (33%) as of 2023, according to World Bank data.
China has presented a plan to increase its nuclear energy capacity, which is 5% of the total energy supply, with 58 operational reactors and 32 under construction, requiring more fuel. For this reason, reliable domestic fuel sources are increasingly necessary, particularly as global uranium markets tighten and geopolitical uncertainties affect supply chains.
The Ordos operation is the first in a network of planned ISR bases across northern China—including the Songliao, Erlian, and Yili basins—aimed at building long-term fuel security.
Source(s)
China National Nuclear Corporation (CNNC), World Integrated Trade Solution (World Bank), Research and Markets

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E. Tsendbaatar successfully defends North American Championship Belt www.gogo.mn

State Honored Athlete of Mongolia and professional boxer Tsendbaatar Erdenebat successfully defended his WBA Continental North America Gold (North American championship) belt on July 12, 2025, in Fresno, California. He defeated Humberto Galindo of the USA via a 10-round unanimous decision victory.
Competing in the 59 kg weight category, this marks E.Tsendbaatar’s 13th professional win.
His next bout will be a world championship match, further elevating Mongolia’s presence on the global boxing stage.

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Day 4: India, Mongolia survive as Iran sweep Group B www.fiba.basketball

SHENZHEN (China) – The FIBA Women’s Asia Cup 2025 Division B closed group play with intense battles on Wednesday at the Shenzhen Sports Center as crucial wins set the tone and finalized the teams qualifying to the next round.
India rebound with convincing win over Tahiti
The day’s action tipped off with India shrugging off their Day 2 loss to Chinese Taipei to deliver an emphatic 78-55 victory over winless Tahiti. It was a close game in the first few minutes, but once India's transition game clicked, they started pulling away. Coach Baskar Sappaniambalam's squad forced turnovers and dictated the tempo throughout much of the encounter. This pivotal win keeps India’s promotion ambitions alive and breathes new life into their Division B campaign, while Tahiti are officially ousted from contention.
Sreekala Rani and Sathya Krishnamurthi scored 15 and 11 points respectively to lead India, while Moina Michelle Tuieinui-Le Beherec had 15 points for Tahiti.
Iran defeat Thailand to sweep Group B
Roxanna Barahman
Next up, Iran reinforced their growing reputation as Division B heavyweights after a hardfought 80-62 triumph against a resilient Thailand squad. Iran booked their third straight win as Mahla Abedi dominated around the basket. The Thais fought hard, led by Rattiyakorn Udomsuk and Rujiwan Bunsinprom, but Iran’s rebounding and defense ultimately helped them pull them away in the fourth quarter. The win cements Iran’s top spot in Group B, setting the stage for their advancing to the Semi-Finals.
Negin Rasoulipour Khameneh had 20 points to lead Iran, which also got a 16-point, 16-rebound double-double from Abedi. Thailand were led by Udomsuk's 18 points.
Mongolia bounce back with solid win against Cook Islands
Ariuntsetseg Bat-Erdene
Rounding out the day, Mongolia responded to Tuesday’s setback with a confident 82-55 victory over a struggling Cook Islands team. Mongolia controlled the pace with tenacious defense and key contributions from Ariuntsetseg Bat-Erdene and Khulan Onolbaatar, who combined for a steady offensive output. This result ensures Mongolia finish in second place in Group B and sends Cook Islands into the 7th-8th place classification game.
Mongolia were carried by Bat-Erdene's 25 points and Onolbaatar's 18 points, while Ajiah Pepe had 22 points for Cook Islands.
With India, Iran and Mongolia claiming crucial victories, the race for promotion in Division B intensifies as teams prepare for the knockout phase.
FIBA

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Japanese Emperor Naruhito’s Visit to Mongolia Emphasizes ‘Special Strategic Partnership’ www.thediplomat.com

The Japanese monarch’s first state visit to Mongolia acknowledged the past while looking toward the future of the two democracies’ ties.
Japan’s Emperor Naruhito and Empress Masako just wrapped up an 8-day visit to Mongolia at the invitation of the Mongolian President Khurelsukh Ukhnaa. Naruhito’s historic state visit to Mongolia envisaged a special partnership between the two countries at the highest level of government. For Tokyo and Ulaanbaatar, the emperor’s visit has robust historic, diplomatic, and symbolic implications for the two countries’ relations moving forward. 
Welcoming the visit, Mongolia’s Foreign Minister Battsetseg Batmunkh told The Diplomat, “This first state visit of Emperor Naruhito and Empress Masako has a historical significance that will deepen the friendly relations between Mongolia and Japan, strengthen the friendship and camaraderie between the peoples, which have become the ‘cornerstone’ of relations, and be engraved in golden letters in the history of relations.”
Khurelsukh and Naruhito previously met in 2019, when Khurelsukh attended the Japanese emperor’s enthronement ceremony. Naruhito had previously visited Mongolia as a crown prince in 2007 during Enkhbayar Nambar’s presidency. This state visit, however, was both more ceremonial and more symbolic. 
Historical Reconciliation
Naruhito’s visit – only his third trip overseas since assuming the throne – held profound symbolism this year, which commemorates the 80th anniversary of the end of World War II. To Mongolia and Japan, which fought against each other in the war, historical remembrance and diplomacy go hand in hand.
On July 8, the emperor and empress visited the memorial for Japanese prisoners of war (POWs) in Mongolia. According to the National Archives of Mongolia, during World War II approximately 12,000 Japanese forced laborers were sent to the Mongolian People’s Republic (MPR) from the Soviet Union, particularly Siberia. 
According to Mongolia’s Institute of Strategic Studies, “Mongolia’s records indicated 12,318 POWs in total [sent to Mongolia] and 1,621 deaths whereas Japanese records stated 13,847 POWs and 1,684 deaths.” 
Shuzo Yamada, an a 107-year-old former internee who helped build the foundations of the modern Sukhbaatar Square, commented on the visit. According to Japanese media, he said that “he is glad that the Emperor and Empress will pay their respects and people will become aware of the internment in Mongolia.” 
In 1966, before Japan and Mongolia had even formally established diplomatic ties, the first group of Japanese delegates paid their respects at a cemetery for the Japanese forced laborers. Sites commemorating the POWs have been visited by Japanese Prime Ministers Kaifu Toshiki, Koizumi  Junichiro, and Abe Shinzo; the official memorial for the Japanese POWs was built in 2001 by the Mongolian and the Japanese governments.
On Japan’s part, the consistent visit of Japanese delegations to historical sites acknowledges an era of warfare, as well as serving as a mechanism to move toward the future. Imperial Japan’s historical atrocities often face controversy in East Asia, and reconciliation has been a way for Japan to navigate both regional and global affairs. Japan’s moves to reconcile and recognize historical atrocities are thus geopolitically relevant. 
Deepening of Bilateral Ties
Beyond history, Naruhito’s state visit contributed to Japan-Mongolia diplomatic and cultural ties. The monarchs visited Ulaanbaatar’s water supply and sewage facility, Shine Mongol High School, and attended the opening ceremony of Mongolia’s Naadam festival. The emperor’s visit thus shed a light on cooperative elements of the partnership between Mongolia and Japan. 
In 2022, Mongolia and Japan commemorated their 50th anniversary of diplomatic ties by upgrading their relations to a Special Strategic Partnership. The Special Strategic Partnership serves as a robust bilateral foreign policy framework to foster people-centered cooperation in fields such as education, health, engineering, and environment. The partnership will be implemented within the 10-year Action Program of the “Special Strategic Partnership for Peace and Prosperity” between Ulaanbaatar and Tokyo. 
At the same time, given the current escalation of regional security concerns, Mongolia and Japan’s Special Strategic Partnership cannot afford to overlook defense and security cooperation. Hence, a strong Japan-Mongolia partnership is also strategically motivated. Ulaanbaatar’s “third neighbor” foreign policy supports its export access to Indo-Pacific. 
In 2022, a Japan-Mongolia-U.S. trilateral meeting took place in Tokyo and all three parties reiterated the mutual commitment to democracy, peace, and security of the open Indo-Pacific region. As Japan’s position becoming ever more relevant in East Asia and the Indo-Pacific, expanding that trilateral mechanism is crucial. 
In East Asia, defense spending continues to rise and this trend includes Mongolia and Japan. The two countries’ defense and security relations have augmented in recent years as well. Japan’s Self-Defense Forces have been instrumental in international field rehearsals such as Capacity Building Program, King Search 2022, and Khaan Quest of Mongolia. Japanese forces help provide training in military medicine, engineering, and emergency evacuation exercises. Mongolia and Japan also cooperate in joint drills to provide medical assistance under Mongolia’s National Emergency Management Agency (NEMA) disaster relief management. 
Nicholas Millward, the director for the Yokosuka Council on Asia-Pacific Studies stated, “In the East Asia context, the partnership with Japan, a major regional power, provides Mongolia with access to state-of-the-art defense technologies that will bolster its defense infrastructure without aligning itself with any military alliance. This ensures that Mongolia can maintain its independent foreign policy while benefiting from the security enhancements provided by the agreement.” 
Future Outlook
Mongolia and Japan’s special strategic bilateral relations carries global and regional implications. Enhancing trilateral mechanisms – not only between Japan, Mongolia, and the United States but Japan-Mongolia-South Korea – has benefits for both Ulaanbaatar and Tokyo. That said, under its multipillared foreign policy, Mongolia will continue to avoid joining any blocs but rather seek to establish robust bilateral and trilateral mechanisms. 
Naruhito and Masako’s state visit augmented Japan-Mongolia bilateral relations on the historical, diplomatic, and cultural levels. The historic visit to Mongolia promulgates these intangible but observable nuances at the highest level of government. Japan’s ambassador to Mongolia, Igawahara Masaru, predicted that the visit of the emperor and empress “will open a new chapter in the relationship between Japan and Mongolia.” 
Cooperation will continue with Mongolia’s hosting of COP17 of the United Nations Convention to Combat Desertification next year. The upcoming event was a particular focus for Masako, who has a deep personal interest in environmental and climate change issues and often calls for regional cooperation in this area. Naruhito expressed that Japan would send a high-level representative to COP17.  
In the face of rising regional instability, Ulaanbaatar and Tokyo will work to uphold democratic and peaceful foreign policies. The Japanese monarch’s first state visit to Mongolia enabled the deepening of Mongolia and Japan’s Special Strategic Partnership and emphasized a greater diplomatic symbolism that recognizes the past while establishing a sustainable path for future relations between the two government and two societies. 
BY Bolor Lkhaajav
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.

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Gold is Mongolia’s natural reserve strategy www.omfif.org

The gold sector plays a catalytic role in reserve accumulation and portfolio diversification in Mongolia
As a gold-producing country, maintaining a gold portfolio within our reserves has been a natural strategy – allowing gold to be converted into foreign exchange liquidity when necessary. Not only does it play a role within the liquidity tranche, but the Bank of Mongolia also introduced a dedicated gold reserve portfolio beginning in 2025, with the goal of gradually building it into a long-term strategic asset portfolio.
Within our strategic asset allocation framework, gold is treated separately from other reserve currencies to minimise market price volatility shocks, which could potentially trigger costly and unstable rebalancing. The overall tranche size is determined by market outlook and risk-return optimisation techniques, while tactical decisions are influenced by domestic gold supply trends and prevailing market conditions.
Our trading team closely monitors key macroeconomic and financial market indicators that reflect international policy developments and associated risks. Additionally, we focus on enhancing our capacity to manage gold in both allocated and unallocated forms, working in collaboration with the London Bullion Market Association clearing banks and central banks.
Amid rising economic uncertainty and geopolitical tensions, the importance of gold as a portfolio diversifier has grown. We regard gold as a strategic asset that supports risk mitigation and strengthens financial security in rapidly evolving global conditions. As a response, the Bank of Mongolia is further enhancing its gold reserve management framework to bolster the country’s financial resilience while adhering to international best practices.
Gold as a reserve accumulation tool
Maintaining a sufficient level of foreign reserves is essential for safeguarding economic and financial stability, as well as providing a buffer against external shocks and uncertainties. Within the policy framework to maintain and increase foreign reserves, the Bank of Mongolia annually purchases around 18-20 tonnes of domestically mined gold from large mining companies as well as artisanal and small-scale gold miners through the commercial banks. Efforts are focused on improving overall supply chain operations, enhancing the domestic gold purchase programme and increasing accessibility for local producers and artisanal miners.
We also aim to acquire a higher volume of responsibly sourced domestic gold for our reserves by streamlining operational procedures, such as offering international market prices, promoting formalisation and strengthening partnerships throughout the gold supply chain.
International co-operation plays a central role in this approach. The Bank of Mongolia has integrated global best practices into its domestic gold operations through collaboration with the World Gold Council. In 2024, we reinforced our commitment to responsible gold management by becoming a signatory to the WGC’s 12 London Principles. The principles provide a framework for governance, risk management, transparency and ethical sourcing, guiding the continuing efforts to modernise its domestic gold purchase programme.
To ensure compliance with these standards, the Bank of Mongolia exclusively partners with internationally licenced entities for logistics, storage, refining and transactions, and only engages with LBMA Good Delivery–accredited refineries, which apply comprehensive due diligence to uphold responsible mining standards.
Through these integrated measures, the Bank of Mongolia is strengthening its commitment to responsible gold reserve management, promoting economic stability and ensuring that Mongolia’s gold reserves meet the highest global standards for quality, ethics and transparency.
Tuvshingerel Tumenbayar is Acting Director, Reserve Management, Financial Markets, and Azjargal Amarsaikhan is Senior Economist, Reserve Management, Financial Markets at Bank of Mongolia.
This article was originally published in OMFIF’s Global Public Investor 2025 report.

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World Leaders Congratulate President of Mongolia on National Naadam Festival www.montsame.mn

On the occasion of the National Naadam Festival of Mongolia, world leaders extended official greetings and warm wishes to President of Mongolia Khurelsukh Ukhnaa.
Messages of congratulations were received from President Xi Jinping of the People’s Republic of China; President Vladimir Putin of the Russian Federation; King Charles III of the United Kingdom of Great Britain and Northern Ireland; Pope Leo XIV, Sovereign of the Vatican City State; President Kim Jong Un of the State Affairs Commission of the Democratic People’s Republic of Korea; President Petr Pavel of the Czech Republic; Federal President Alexander Van der Bellen of the Republic of Austria; President Lee Jae-myung of the Republic of Korea; President Miguel Diaz-Canel of the Republic of Cuba; President Thongloun Sisoulith of the Lao People’s Democratic Republic and President Donald J. Trump of the United States of America.
In their greetings, the leaders expressed their sincere congratulations to President Khurelsukh, wishing him good health, happiness, and continued success. They also extended their best wishes for peace, prosperity, and development for the people of Mongolia, and affirmed their readiness to further strengthen bilateral relations and cooperation.
President Vladimir Putin of the Russian Federation emphasized the friendly nature of Russia-Mongolia relations, highlighting their recent meeting in Moscow during the 80th anniversary of the Victory in the Great Patriotic War. “Our meeting fully confirmed the cordial character of Russian-Mongolian relations. I am confident that we will continue working together to strengthen our Comprehensive Strategic Partnership, for the benefit of our peoples and the stability and security of the region.” 
President Xi Jinping of China underlined the importance of the China-Mongolia relations and stated that he is ready to work with President Khurelsukh to advance the Comprehensive Strategic Partnership, developing it a long-term, stable relations that serves as a model for neighboring countries and benefit the peoples of the two countries.
President Donald J. Trump of the United States reflected on the 38 years of diplomatic relations between the two nations. The US President reaffirmed the importance of the Strategic Third Neighbor Partnership as a symbol of the two countries’ shared commitment to peace and prosperity for the people. “I look forward to strengthening this partnership in the coming year, particularly in the areas of natural resources, energy, and trade,” he added.

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Rio Tinto appoints iron ore boss Simon Trott as CEO www.reuters.com

LONDON/MELBOURNE, July 15 (Reuters) - Rio Tinto (RIO.AX), opens new tab, (RIO.L), opens new tab named Simon Trott, who heads the company's most profitable iron ore unit, as its new chief executive on Tuesday, placing trust in the 20-year veteran to rein in operational costs and drive long term growth.
Trott, 50, succeeds Jakob Stausholm, who unexpectedly announced in May he would step down after four and a half years.
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The Australian national has led the iron ore division - the company's main profit engine - since 2021 and will officially take over as CEO on August 25, relocating to London for the role.
Sources familiar with the matter said the internal appointment indicated that Rio Tinto's board felt the company's challenges could be addressed without the need for an external leader to drive a reset.
Rio Tinto has faced pressure over its corporate culture following the 2020 destruction of Australia's ancient Juukan Gorge rock shelters, and a 2022 report revealing widespread bullying, racism, and sexual harassment, prompting leadership changes and ongoing reform efforts.
The global miner still faces class action lawsuits alleging sexual harassment at Australian mine sites.
Corporate culture was a critical area the board considered in choosing its new CEO, a source familiar with the matter said.
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The board had vetted other internal candidates while looking for external ones, too, even from other sectors such as technology, the source said.
'SAFE APPOINTMENT'
"It's a relatively safe appointment," said Kaan Peker at RBC in Sydney.
"He knows the iron ore business very well and that's the main driver of free cashflow and earnings. Obviously, he has proven himself in the eyes of the chair."
Hailing from a farming family in the Western Australian wheatbelt town of Wickepin southeast of Perth, Trott, who is married with children, enjoys cycling around the city's streets on weekends.
He has spent time at Rio's global operations, including three years as chief commercial officer in Singapore, and has managed its salt, uranium, borates and diamonds units across Australia, Namibia, United States, Canada, and Serbia.
Rio Tinto's new CEO should be open to transformative merger and acquisition deals, sharpening productivity and cutting costs, sources have previously said.
The company was approached by rival miner Glencore (GLEN.L), opens new tab about a potential asset combination last year but talks were short-lived.
"Now that Rio Tinto has a CEO designate in place, M&A could happen, although we would expect at least a six month wait," RBC analysts said, adding that a potential Glencore and Rio Tinto merger "feels more of a stretch than ever."
BIGGEST IRON ORE MINE
In Western Australia, Trott brought to market Rio Tinto's biggest iron ore mine in more than a decade.
"Simon and the Board are aligned that Rio Tinto's next phase is about unlocking significant value for shareholders from our portfolio, driven by operational performance, and cost and financial discipline," chair Dominic Barton said in a statement.
Trott has faced some pushback from investors because the quality of ore in Rio's exports has dropped during his tenure and costs have climbed, while the miner has struggled to reach the top end of its production forecast.
However, the unit has met its production guidance every year since Trott took the reins at the division, after missing it in five of the seven preceding years.
Stausholm, who oversaw a big bet on lithium and expansions in iron ore and copper, was named chief executive in 2020 as the miner grappled with legal, public and investor angst over the destruction of Juukan Gorge, which led to the ousting of its former CEO.
Reporting by Clara Denina and Melanie Burton, Sameer Manekar and Shivangi Lahiri; Editing by Veronica Brown, Jacqueline Wong and Bernadette Baum

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OECD premium categories: Mongolia upgraded, Bangladesh and Senegal downgraded www.credendo.com

In accordance with the country risk classifications of the OECD Arrangement, Credendo has upgraded the premium category for political risks on medium- to long-term export transactions for Mongolia (from 7 to 6 on a scale from 1 to 7, where 7 represents the highest risk and premium category), whereas it has downgraded this rating for Bangladesh (from 5 to 6) and Senegal (from 5 to 6).
The acceptance policy remains unchanged.

 

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Foot-and-mouth disease outbreak reported in Gachuurt, quarantine in effect until end of July www.gogo.mn

A foot-and-mouth disease outbreak has been confirmed in the 33rd khoroo of Bayanzurkh district, specifically in the Shar Khooloi and Shivertiin Am areas of Gachuurt. In response, District Governor G.Jargalsaikhan has issued a decree imposing a strict quarantine.
As part of the containment measures, residents of the affected areas are prohibited from entering or leaving the quarantine zone starting from July 10, and the restriction will remain in effect until July 30, 2025. Authorities are urging citizens to cooperate fully with the quarantine guidelines to prevent the spread of the highly contagious livestock disease.

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Urgent tax reform highlighted at Economic Forum www.ubpost.mn

The Mongolian Economic Forum 2025 began at the State Palace. Prime Minister G.Zandanshatar opened his first government forum by delivering a speech. 
He stated, “The two-day economic forum aims to provide a clearer picture of the policies ministers appointed a month ago will pursue in the future. It will be interesting to see whether participants unanimously name mining or highlight other sectors such as information technology and agriculture. About 500 government officials, 700 private sector officials, and 900 NGO representatives have registered to attend the conference. Mongolian citizens have paid one million MNT and foreign citizens 500 USD to attend the event.”
Economist B.Lkhagvajav expressed his position by stating, “The economic forum has become a platform for praising the government, but this year it is changing.” During the event, CEO of Bizcon Audit LLC L.Otgonbayar said, “The tax code needs to be changed because the excessive structure of the state needs to be reduced. It is good that the government is talking about reducing it by nine percent. However, the people working in this structure should do their job and not pressure the private sector. Corruption, bureaucracy, and the need for unnecessary documents are destroying the favorable environment for doing business.”
L.Otgonbayar emphasized that the development of the private sector is very important, but the current situation is unclear and incomprehensible. For example, even if businesses submit the nine documents required for obtaining a permit, additional requirements appear again due to the difficulties in the internal organization of state institutions. Therefore, a specialized, compact and clearly principled government is needed. The Prime Minister believes that building a strong Mongolia based on the private sector is the right approach and that entrepreneurs need a peaceful and happy environment. However, the current tax environment is very stressful. Inspectors treat entrepreneurs like law enforcement officers and pressure them to pay. Some citizens are burdened with debts and loans and barely manage to pay salaries. In such a situation, however, authorities may close their accounts and impose fines, which causes difficulties, he underlined.
Having worked in auditing for 24 years, L.Otgonbayar noted that there have been no changes in the tax system and the attitude of inspectors during that time. The benefits and exemptions provided by law are not actually implemented. For instance, authorities refuse to make calculations or approve applications for benefits. This situation is very difficult for micro and small business owners, pushing many to give up, liquidate, emigrate, or enter civil service soon after starting a business. The decrease in the number of business owners will negatively affect budget revenues in the short and medium term, which will in turn reduce funding for important sectors such as education, health, and law enforcement.
Signs of a favorable environment for entrepreneurs are emerging, along with a change in mentality that could create opportunities for progress. Recently, foreign representatives misunderstood the wealth fund, thinking the government planned to take 34 percent of invested capital. The prime minister clarified that exploration would be treated differently depending on whether it was funded with public money, which helped correct this misconception. 
Even though the tax authority has gone digital, uncertainty and harsh treatment of taxpayers persist. Inspectors continue to harass businesses regardless of deadlines set by law. The unlimited amount of interest and penalties imposed makes the tax authority akin to a direct moneylender. For example, if a businessman files an incorrect report, they impose unlimited penalties, despite there being a maximum interest rate for commercial loans. The requirement of a 10 percent advance payment when applying to the Dispute Resolution Board itself reflects an unfair system, which is making the environment increasingly difficult for entrepreneurs, the businesses expressed. 
Economist B.Lkhagvajav shared his views by briefly reviewing the forum’s results over the past 15 years. Between 2006 and 2010, major issues such as the Oyu Tolgoi agreement and changes to the mining law were resolved through public debate and protests. In 2010, the government shifted these issues to the forum, creating a space for open dialogue among scientists, researchers and civil society representatives. The first two forums were very effective in discussing policy issues. Unfortunately, in recent years, the forum became a platform primarily for praising the government. However, with a new government and the resignation of the previous prime minister, this forum marks the beginning of real conversations and new opportunities. Facing a budget cut of 3 trillion MNT and a looming crisis, the forum must confront reality and have frank discussions. The Investment Law has not been revised since 2013, but talk of revision at the forum does not inspire confidence. The law contains only one provision stating that investments of 10 billion MNT or more are tax-exempt for ten years. Unfortunately, this provision is not implemented in practice, he highlighted. 
Some participants also expressed, “The state often enters into one-sided contracts that harm the private sector. For example, companies that have won tenders have not received payment for three years, leading to tragic outcomes such as suicides due to loan interest. The Pharmaceutical Association alone is owed 200 billion MNT by the state. These contracts must be reviewed, and contracts between the state and the private sector must be equal. The Mongolian National Chamber of Commerce and Industry has full authority to act as an arbitrator to resolve contract disputes and can issue fairer decisions than courts.”
One of the most pressing issues is the permit system, which currently includes 384 types of permits issued by the state. There is a proposal to transfer this authority to the chamber, as the current system constitutes excessive state intervention in the economy. The number, structure and necessity of permits must be updated based on thorough research. For example, standards are needed for the number of pharmacies allowed per district. The chamber has experience in this work; in the construction sector alone, three types of permits have been issued in the last ten years. This is not just a regulatory issue but also a corruption problem. Moving to a fair and accountable system is the main role of the Transparent Forum, they said.

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