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

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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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India coal baron becomes world’s third richest trailing only Musk, Bezos www.bloomberg.com

Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world’s third-richest person.
It’s the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index — fellow citizen Mukesh Ambani and China’s Jack Ma never made it that far. With a $137.4 billion fortune, Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking.
Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media and alumina. The group now owns India’s largest private-sector port and airport operator, city-gas distributor and coal miner. While its Carmichael mine in Australia has been criticized by environmentalists, it pledged in November to invest $70 billion in green energy to become the world’s largest renewable-energy producer.
As his empire has expanded to one of the world’s largest conglomerates fueling the remarkable wealth gains, concerns have grown over the rapid growth. Adani’s deals spree has been predominantly funded with debt and his empire is “deeply over-leveraged,” CreditSights said in a report this month.
Some lawmakers and market watchers have also raised concerns over opaque shareholder structures and a lack of analyst coverage at Adani Group companies. Yet the shares have soared — some of them more than 1,000% since 2020, with valuations hitting 750 times earnings — as the tycoon focused on areas that Prime Minister Narendra Modi deems crucial to meeting India’s long-term goals.
Shares of Adani Enterprises Ltd., the group’s flagship, climbed 1.7% on Tuesday to close at a record high.
The pivot to green energy and infrastructure has won investments from firms including Warburg Pincus and TotalEnergies SE, helping Adani enter the echelons previously dominated by US tech moguls. The surge in coal in recent months has further turbocharged his ascent.
All told, Adani has added $60.9 billion to his fortune in 2022 alone, five times more than anyone else. He first overtook Ambani as the richest Asian in February, became a centibillionaire in April and surpassed Microsoft Corp.’s Bill Gates as the world’s fourth-richest person last month.
Adani was able to move past some of the world’s richest US billionaires partly because they’ve recently boosted their philanthropy. Gates said in July he was transferring $20 billion to the Bill & Melinda Gates Foundation, while Warren Buffett has already donated more than $35 billion to the charity.
The two, along with Gates’s ex-wife Melinda French Gates, started the Giving Pledge initiative in 2010, vowing to give away most of their fortunes in their lifetimes. The billions of dollars spent on philanthropy has pushed them lower on the Bloomberg wealth ranking. Gates is now fifth and Buffett is sixth.
Adani, too, has increased his charitable giving. He pledged in June to donate $7.7 billion for social causes to mark his 60th birthday.
(By Alexander Sazonov, with assistance from Pei Yi Mak)
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China, Russia, Mongolia to strengthen coordination in intl, regional affairs: Chinese Vice FM www.globaltimes.cn

Chinese Vice Foreign Minister Ma Zhaoxu on Tuesday attended a virtual meeting with deputy foreign ministers of Russia and Mongolia, in which they agreed to further strengthen mutual coordination.
Ma spoke highly of the progress the three sides have made since the fifth trilateral meeting of the heads of state of China, Russia and Mongolia. Ma said progress had been seen in the sectors of politics, economy and trade, anti-pandemic efforts, humanities, international cooperation and other fields, according to China's Ministry of Foreign Affairs.
The fifth trilateral meeting was held in June 2019, in which leaders from the three sides pledged to strengthen trilateral cooperation.
Ma said that the three sides should fully implement the important consensus reached by the heads of the three countries, actively push forward the Mid-term Roadmap for Development of Trilateral Cooperation among China, Russia and Mongolia, and work on construction of the China-Mongolia-Russia economic corridor.
The three sides should also explore and foster new growth sectors for trilateral cooperation, strengthen coordination and cooperation in international and regional affairs, and achieve common development, according to Ma.
Russia and Mongolia fully acknowledge the positive results achieved in trilateral cooperation during recent years and they are willing to step up coordination and work together to achieve more results in trilateral cooperation. They also exchanged opinions on key areas for cooperation in the next phase.
China, Russia and Mongolia inked a development plan on June 23, 2016 to build an economic corridor linking the three neighbors, pledging to boost transportation connectivity and economic cooperation in border regions.
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EU faces awful winters without gas cap - minister www.bbc.com

European Union countries will face five to 10 terrible winters if nothing is done to reduce gas prices, Belgium's energy minister says.
Tinne Van der Straeten said gas prices should be frozen and not used to dictate the price of electricity.
EU states have been struggling with huge energy price hikes since key gas supplier Russia invaded Ukraine in February, triggering sanctions.
Countries backing Ukraine are trying to cut imports of Russian gas and oil.
Russia, which supplied the EU with 40% of its gas last year, has in turn restricted supplies.
As well as gas, electricity prices have reached record highs.
Natural gas is still widely used to generate electricity. Because gas prices have risen, this costs more.
Significantly, this price is used when buying electricity wholesale even when it comes from much cheaper renewable resources.
"We have to stop this madness that is happening right now on energy markets," Austria's Chancellor Karl Nehammer said.
"We cannot let [Russian President Vladimir] Putin determine the European electricity price every day," he added.
EU Commission President Ursula von der Leyen also criticised the method used to price electricity being sold on the EU market.
Speaking to reporters in Slovenia, she said the bloc was preparing "structural" emergency reforms that would tackle high costs - but did not give further details.
Germany - the largest importer of Russian gas in 2020 - has been racing to bolster its gas reserves before winter despite Russia cutting deliveries.
Its aim is to fill its gas capacity to 85% by October. It has implemented energy-saving measures to do so.
Economy Minister Robert Habeck said such measures - along with buying gas from alternative suppliers - had enabled Germany to fulfil its goal sooner than anticipated.
He estimated that the 85% target could be reached by the start of September.
Belgium's Prime Minister Alexander de Croo last week warned that people should "hope for the best and prepare for the worst".
And the French Prime Minister Elisabeth Borne told business leaders on Monday to submit energy-saving plans by next month - otherwise there could be rationing.
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Mongolian National Film Council To Welcome Warner Bros., HBO, Discovery, Netflix to Mongolia in September www.prnewswire.com

Ms. Nomin Chinbat, Minister of Culture of Mongolia, announced that the Mongolian National Film Council (MNFC) will welcome several major production studios including Warner Bros., HBO, Discovery, Viacom, and Netflix to Mongolia September 14-19 to learn about the country's film industry benefits and visit historic Mongolian venues. Thus far, five high-level production managers and executives are confirmed to attend, with additional studios and participants to be announced in the coming weeks. The MNFC was established to manage film production incentives, reimbursement, and other legislative measures to support the growth of Mongolia's film industry.
Confirmed participants are Warner Bros: Jay Rosenwink, Senior Vice President; Discovery: Carrie Regan, Vice President, Global Content Production; HBO: Krutin Patel, Production Manager, HBO/HBO Max, a Warner Bros. Discovery Company; Viacom: Carlos Lugo, Vice President, Production, Paramount Media Networks & MTV Entertainment Studios; and Netflix: Songlee Lee, Production Management Manager, Netflix Korea.
Led by Minister Chinbat, the fam tour agenda will include meetings with government officials and the MNFC staff, along with a tour of Mongolia's capital city of Ulaanbaatar (pop. 1.3 million); its production facilities as well as a culture program and visits to the Mongolian countryside. Additionally, the group will meet with local leading Mongolian executives, award-winning artists, and production companies such as: Cineplus, Nomadia Pictures, Hulegu Pictures, Guru Media, Fantastic Production, B Production, U Film, and Hero Entertainment.
Mongolian cinema has developed rapidly with a high level of professionalism and the emergence of strong talent specializing in the art of filmmaking. Over the last five years, the Mongolian film industry has averaged 80 studio productions, employing hundreds of film industry employees. The country now has many major movie theaters and screening venues with 40 new films released per year (17 during the COVID-19 pandemic); and nearly 2 million potential moviegoers.
The core of MNFC's mission is to develop a vibrant and creative film industry in Mongolia. The Mongolian government has recently provided unprecedented programs to support and encourage both domestic and global film producers who base their projects in Mongolia. Global producers can apply for incentives of up to 45%, which come in the form of cash rebates, and are among the most competitive in the world (30% location incentive, 10% cultural incentive and 5% foreign talent reimbursement).
Minister Chinbat said: "Mongolia has so much to offer in terms of unique natural beauty and the large urban city of Ulaanbaatar which employs many talented film professionals and modern production facilities. We are pleased to welcome some of the world's top studios to our country to highlight our very generous film rebates and showcase how Mongolia is open for international business and investment."
About the MNFC
The Mongolian National Film Council implements the Law on Promotion of Cinematography and focuses on increasing the film production capacity of Mongolian artists, developing their professional skills, supporting cooperation between Mongolian and foreign filmmakers, and promoting Mongolian cinema at the international level. They provide permission for foreign filmmakers to film in Mongolia, receive and resolve requests for reimbursement of film production costs, and provide all necessary information. www.filmmongolia.gov.mn
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Korea, Mongolia to strengthen strategic partnership, cooperate on rare earth supply www.asianews.network

SEOUL – South Korea and Mongolia vowed to join efforts for peace in the region and agreed to bolster their strategic partnership in their first bilateral foreign ministers’ meeting held in eight years in Ulaanbaatar on Monday.
South Korean Foreign Minister Park Jin met with his Mongolian counterpart, Batmunkh Battsetseg, to agree on establishing a joint center on rare earth metals, aimed at boosting their bilateral ties in regards to economic security field. They also discussed on a range of issues involving regional security, North Korea and supply chain resilience, among others.
In a joint press conference following their bilateral meeting, Park and Battsetseg revealed that they agreed on establishing the joint institute to enhance cooperation on rare earth materials. Mongolia would be providing the land, and South Korea would use its official development assistance funds.
“(We) will push actively for measures to cooperate (with each other) to gain synergies from the combination of South Korea’s infrastructure and such minerals and resources, abundant in Mongolia, as rare earths for high-tech semiconductors and displays, and rare metals for batteries,” Park said during the joint press conference.
Battsetseg reiterated on their agreement and said they would seek for synergies between Mongolia’s natural resources and Korea’s advanced technologies.
“I hope to actively cooperate (with Mongolia) to open the next 30 years (of the relations),” Park said in his opening speech of the foreign ministers’ meeting.
“The Yoon Suk-yeol administration aims to make Korea a globally pivotal state that can contribute to freedom, peace and prosperity. We seek to work together with Mongolia, which shares the values of democracy and human rights, for peace and prosperity of the region and the international society.”
The Mongolian foreign minister also welcomed Park, saying his visit to Mongolia would provide a precious opportunity for the two countries to bolster their strategic partnership.
Park took off to Mongolia for a three-day trip on Sunday. It has been eight years since a Korean foreign minister visited Mongolia for a bilateral meeting. It is also the first time for a high-ranking official to visit the country since Korea and Mongolia elevated their bilateral ties to a “strategic partnership” in September last year.
In his courtesy visit to Mongolian President Khurelsukh Ukhnaa on Monday afternoon, Park delivered a handwritten letter from South Korean President Yoon Suk-yeol.
Later Monday, Park was to attend a dinner meeting hosted by the Mongolian president. The president also invited Park for a breakfast meeting on Tuesday.
Park also paid courtesy calls to Mongolian Prime Minister Luvsannamsrai Oyun-Erdene and Parliamentary Speaker Gombojavyn Zandanshatar.
Starting with Park’s visit, Seoul’s Foreign Ministry said the government will activate bilateral consultative groups with Mongolia to bolster strategic communication.
Mongolia is a strategic country pursuing democracy while bordering China and Russia, and is one of the top 10 countries for its abundant natural resources, a Foreign Ministry official said.
Seoul will explore ways to work together with Mongolia for diversifying the country’s supply chain, the official added.
As countries are interested in securing a stable supply chain of strategic materials, high-ranking officials from a number of neighboring countries, as well as the United States, have been seen visiting Mongolia in recent months.
Japanese Foreign Minister Yoshimasa Hayashi traveled to Mongolia on a bilateral basis in April. Russian Foreign Minister Sergey Lavrov and Chinese Foreign Minister Wang Yi also made separate trips in July and August, respectively.
Daniel Kritenbrink, the assistant secretary of state for East Asian and Pacific affairs of the US Department of State, visited Mongolia before flying to Seoul last week.
On the day of his arrival Sunday, the Korean foreign minister visited a commemorative park honoring South Korean independence fighter Lee Tae-joon.
Lee opened a hospital in Mongolia in the 1910s and provided rare medical services to locals, as well as backing Korea’s struggle against the Japanese colonial rule of 1910-1945.
Mongolia established the park in 2001.
Park’s trip to Mongolia comes amid rising interest in the country among neighboring countries.
Park said Mongolia is a strategic location of Northeast Asia sharing universal values of democracy and human rights, and Korea seeks to deepen “practical” cooperation in the field of economic security.
“We would like to deepen cooperation with Mongolia, one of the world’s top 10 resource-rich nations, for stabilizing and diversifying supply chains,” Park told reporters Sunday before departing for Ulaanbaatar.
 
 
 
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80 COVID-19 cases registered in Mongolia in a day www.akipress.com

80 new COVID-19 cases were registered in Mongolia in a day.
43 of them were contacts in Ulaanbaatar, and 37 were recorded in the regions. No imported cases were found.
Mongolia did not confirm any coronavirus related deaths in past 24 hours. The death toll from COVID-19 remains 2,127.
 
 
 
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Former Rio Tinto Bougainville copper mine poses flood risk – report www.reuters.com

Communities around Rio Tinto’s (ASX, LON: RIO) shuttered copper mine in Bougainville face a serious threat of flooding due to unstable mine infrastructure, an interim report commissioned by the mining company said on Monday.
Due to the urgent nature of the threat, a rapid risk assessment will begin in coming weeks by global environmental firm Tetra Tech Coffey, which prepared the report, and will include on-ground inspection to verify the report’s findings.
Rio Tinto reached an agreement with the Bougainville community last year to fund an environmental and human rights impact assessment of the Panguna copper mine that it ran until 1989, following a complaint brought by community members who were represented by the Australian human rights group Human Rights Law Centre.
Monday’s interim report said a levee at the junction of the Jaba and Kawerong rivers, constructed at the time of the mine’s operation, “is almost certain to collapse at some stage in the future”.
“Structures and people that live on the floodplain downstream of the Jaba River would be directly impacted by flooding or landslide effect,” it said.
It it was not possible to predict when the levee might fail or how severe the failure might be, it said, due to limitations of current information.
The report said the rapid risk assessment process would now be led by the local authorities in the Autonomous Bougainville Government, with the support of Rio Tinto and the Human Rights Law Centre.
Rio Tinto said in a statement to Reuters that community representatives in Bougainville had been advised of the interim findings and the work being undertaken to better understand the risks and mitigations.
A Rio Tinto spokesperson reiterated that a formal impact assessment would commence on the ground later this year, which “will provide all parties with a clearer understanding of the impacts, so that together we can consider the right way forward”.
(By Praveen Menon; Editing by Edmund Klamann)
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New projects to be co-implemented with JICA www.montsame.mn

On August 22, Kh.Batjargal, the State Secretary of the Ministry of Economy and Development received delegation headed by Nakazato Taiji, Head of the East and Central Asia Department of JICAs.
During the meeting, the sides exchanged detailed views on projects on the reduction of traffic congestion in the capital city, the development of Khushig Valley Economic Free Zone, and future cooperation.
JICA expressed its interest in further cooperation with the Government of Mongolia in the implementation of new projects in the areas of reducing traffic congestion, construction of the Khushig Valley Economic Free Zone, energy sector and food supply and security.
The sides came to a decision to cooperate in developing the feasibility studies for the ‘Worker's Bridge Construction Project’ and ‘Sapporo-Bayanburd Intersection Multilevel Project’ which are being studied to implement for reducing traffic congestion in Ulaanbaatar city, as well as implementing the Phase 3 of ‘Two-Step-Loan Project for Small and Medium-Scaled Enterprises Development and Environmental Projection’ for ensuring food supply and security.
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New members of cabinet appointed www.montsame.mn

The State Great Khural of Mongolia today, August 30, approved new members of the cabinet, presented by Prime Minister L.Oyun-Erdene yesterday, August 29. The Steering Committee of the ruling Mongolian People’s Party, which holds the majority or 62 seats in the 76-seat State Great Khural, convened on August 29, to approve the list of ministers to nominate for the cabinet.
Thus, new ministers of the cabinet have been appointed and took the oath of office to the State Great Khural today, after Prime Minister L.Oyun-Erdene signed the ordinance on the appointments in accordance with the Constitution of Mongolia and the Law on Government.
The newly-appointed cabinet members:
Chief of Cabinet Secretariat - D.Amarbayasgalan
Minister, Chairman of National Committee on Traffic Congestion – J.Sukhbaatar
Minister for Olympism, Physical Culture and Sports – B.Bat-Erdene
Minister of Economy and Development – Ch.Khurelbaatar
Minister of Road and Transport Development – S.Byambatsogt
Minister of Mining and Heavy Industry – J.Ganbaatar
Minister of Labor and Social Protection – D.Sarangerel
Minister of Agriculture and Light Industry – Kh.Bolorchuluun
Minister of Energy – B.Choijilsuren
Minister of Digital Development and Communications – N.Uchral
In 2021, Prime Minister L.Oyun-Erdene formed his cabinet in accordance with the amendments to the Constitution approved by the State Great Khural on November 14, 2019. However, this year, the Constitutional Court overruled the clause of the amendments to the Constitution that allows only the Prime Minister and up to four members of the cabinet to hold the position of parliament member concurrently.
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Indian defence minister to visit Mongolia www.news.mn

China will closely track India’s upcoming high-level engagements in its neighbouring countries Mongolia and Japan as New Delhi sends its senior ministers to bolster ties in the region.
Indian defence minister Rajnath Singh’s two-day visit to Mongolia ahead of his Tokyo visit will be closely tracked by Beijing as well.
Singh has a day full of high-level interactions lined up on September 6, a day after reaching Mongolia, in Ulaanbaatar headlined by a one-on-one meeting with President U.Khurelsukh who is also hosting a dinner in Singh’s honour that evening.
A primary talking point in the discussion agenda is likely to be the completion of Mongolia’s biggest oil refinery being built on a $1.2 billion line of credit from India.
The refinery is coming up in Mongolia’s Dornogobi province and is expected to meet 75 % of the country’s requirements once completed in 2025. (source: Hindustan Times)
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