1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Daniel Kawczynski: UK Government will actively carry out works to invest in Mongolia www.montsame.mn

The Mongolia-UK business forum took place on April 13. Co-organized by the Ministry of Foreign Affairs, the British Embassy in Mongolia, and the Mongolian National Chamber of Commerce and Industry, the forum was attended by Trade Envoy of the UK Prime Minister, MP Daniel Kawczynski and Ambassador Philip Malone. Discussions were held on trades between the two countries with representatives of the two sides’ business owners.
British MP Daniel Kawczynski gave opening remarks at the event. Highlighting that the Government of the United Kingdom is paying a significant amount of attention to making investments in Mongolia, and actively carrying out works, he announced that loans amounting to USD 3 billion are planned to be issued on soft terms for UK companies that are looking to invest in Mongolia.
Furthermore, the MP informed about plans to visit Mongolia with investors and business representatives by the end of this year, noting that there are more opportunities to cooperate in sectors including renewable energy, agriculture, and education. The UK-side representatives also expressed their interest in the sectors of bank and financing as well as energy.
The UK Government plans to issue loans amounting to USD 3 billion on soft terms for British companies looking to invest in Mongolia.
During the business forum, Chief Representative for Turkey, Eastern Europe and Central Asia at UK Export Finance (UKEF) Ozgur Kutay introduced the export credit agency, while MNCCI Officer R. Ariuntungalag made a presentation on the Developing Countries Trading Scheme which allows lower tariffs for 70 qualifying countries exporting to the country. A presentation on the current state of Mongolia’s trade and economy was also done by Director-General of Foreign Trade and Economic Development Department of the Ministry of Foreign Affairs G. Ulziisaikhan.
MNCCI President O. Amartuvshin said, “Since the establishment of diplomatic relations between the two countries in 1963, relations have been developed in politics, trade, economy, culture, education, and the humanitarian sector. It is highly necessary for both sides to put in efforts to increase trade turnover, reduce trade deficit, and strengthen investment ties.”
Currently, Mongolia’s main exports to the UK are cashmere, cashmere products, and gold, with the two countries’ businesses and organizations cooperating in the sectors of mining, education, bank and financing, and the stock market. In 2021, while Mongolia has exported animal husbandry products amounting to USD 10 million to the UK, goods and products such as drugs and medicine, medical equipment, and railway parts amounting to USD 40 million were imported from the country. Companies with UK investment currently run operations in the following sectors:
• 36 percent in retail trade and catering,
• 15.5 percent in geology, exploration, and extraction,
• 9 percent in bank and financing,
• 28.5 percent in other sectors.
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Sir Returns In New Colors And He Might Just Be Mongolia 3x3'S Missing Piece www.boxscorenews.com

Yessssir! He's back! And sniper Steve Sir is ready to once again terrorize opponents from deep while on a brand new mission to power fan favorite Mongolia into a 3x3 powerhouse.
The Canadian 3x3 legend - who might be the greatest shooter in history and jointly holds the shootout contest record - will be player-coach for everyone's favorite underdog Ulaanbaatar MMC Energy at the FIBA 3x3 World Tour this year.
Sir will also be a coach and director of player development for Mongolia's national teams, including the men's and women's teams who hope to make a serious tilt at the FIBA 3x3 World Cup 2022. His return on the court might come as a surprise to those who watched his emotional sendoff at last year's Montreal Masters but Sir insists he had never left the building officially.
"Covid had affected sport in Canada so much that we were barely able to train and it got to the point last year where I felt like my time in 3x3 was coming to an end," he said. "I was like 'how can I keep playing because the talent level keeps growing'."
But his starring role for Canada at the inaugural FIBA 3x3 AmeriCup 2021 answered any lingering doubt.
"I still felt good," Sir said. "I still love to play and compete. The big challenge will be to see if I still can and that inspires me to work hard."
After spending time in Ulaanbaatar last October helping out Mongolian 3x3, Sir built a chemistry with players and officials leading to his new gig where he will be based in Mongolia's historical capital for most of the year.
"To do this properly, we talked about the importance of being there," he said. "Relationships with players is important and being invested in their improvement.
"I've had a good relationship with (team delegate) Batt Gotov, who has been tremendous and a key in Mongolia's investment in 3x3 over the years. They are completely all in on 3x3. and the next step is building on that."
What Sir can bring on the court is quite obvious - strong leadership and, of course, laser precision from deep. "Shooting is something they have struggled with in the past," he said. "Being able to shoot the ball consistently from the outside is something I bring but also can help others get better at."
Even though he was a defacto player/coach/team manager at times for Edmonton and Canada, Sir now moves into coaching officially and hopes to take Mongolia to another level.
Mongolia's men team were memorably FIBA 3x3 Asia Cup 2017 champs on home soil followed by runners-up at in 2018 and 2019, while their women's played in the Tokyo Olympics - the first Mongolian squad to ever represent the country in an Olympic team sport.
"We want to play with toughness and togetherness," Sir said. "With Edmonton, we played fast which was a difficult style to play against. I hope to add that but need to find a style that suits.
"Hopefully we can raise the level of expectation and put pressure on players having to raise their game. It's a tremendous opportunity because they've already put the building blocks in place."
While Sir's priority is to lift Mongolian 3x3 to new heights - while reminding everyone he hasn't lost the shooter's touch - he is also relishing the cultural experience of moving to a country, which has a population of just 3.3 million, far different to his homeland.
"It's very different to being a city slicker in Edmonton," he said. "In Mongolian culture, they don't just let anyone in. The level of sharing and caring is very inspiring.
"It's a very insulating and loyal culture. Being a basketball nomad myself, there was a commonality between groups."
Making the journey even more special, Sir will be joined in Mongolia by his wife and daughters aged 10 and 6.
"I'm excited that my wife and kids will have this life opportunity," he said. "It will be an amazing cultural experience and hopefully I can also positively contribute to Mongolian 3x3."
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Mongolia seeks to fully meet domestic demand for food www.xinhuanet.com

Mongolia is intensifying its efforts to fully secure domestic demand for basic food products amid the COVID-19 pandemic, Mongolian Food and Agriculture Minister Zagdjav Mendsaikhan said Wednesday.
Over the past two years, unforeseen circumstances caused by the COVID-19 pandemic have shown the need for the country to intensify the development of the food and agriculture sectors and increase investment in domestic production, Mendsaikhan said at a national conference "Food Supply and Security-Agriculture" held here.
As part of its post-pandemic New Revival Policy introduced last December, the Mongolian government is taking measures to fully meet the domestic demand for basic food products, such as potatoes, flour and meat, and to become a food exporter, said Mendsaikhan.
For example, the government has decided to provide incentives for growing vegetables and grains, and pay special attention to the construction of warehouses for the harvest, he added.
This year, the landlocked Asian country is expected to fully secure its domestic demand for potatoes, grains and wheat, he said.
In March, the Mongolian government decided to issue a soft loan worth 400 billion Mongolian Tugriks (around 132 million U.S. dollars) for the development of the agricultural sector.
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Dayton announces signing of Mongolia native Sharavjamts www.daytondailynews.com

Dayton Flyers coach Anthony Grant announced the signing of Mike Sharavjamts, who verbally committed to UD in December on Wednesday, the first day of the spring signing period.
Sharavjamts, a 6-foot-9, 182-pound point guard, will make college basketball history as the first citizen of Mongolia to earn a Division I scholarship.
“We’re excited to announce the addition of Mike Sharavjamts to our program and welcome him to the Flyer family,” Grant said in a press release. “He brings a unique combination of size, skill, and versatility that will fit our system and style of play very well.”
UD released a video on social media with former Flyers Jordy Tshimanga, Jimmy Binnie, Chris Wright, Keith Waleskowski plus one current Flyer, Toumani Camara, welcoming Sharavjamts to the program.
At this point, Sharavjamts (SHAR-uv-jaumts) is the only member of Dayton’s 2022 recruiting class. There are two scholarships open after Elijah Weaver and Moulaye Sissoko entered the transfer portal.
Sharavjamts played at the prestigious Nike Hoop Summit in Portland, Ore., on Friday with many of the top recruits in the class of 2022. In just under 11 minutes, he had two points, two blocks, a rebound and an assists. He made 1 of 3 field-goal attempts.
Sharavjamts played this past season at the International Sports Academy in Willoughby, Ohio. He averaged 10.2 points, 4.6 rebounds and 3.6 assists in 24 games and shot 51.2% (44 of 86) from 3-point range.
Sharavjamts ranks 100th in the 2022 class, according to ESPN.com, No. 147, according to Rivals.com, and No. 150, according to 247Sports.com.
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QSC company’s concession agreement terminated www.montsame.mn

At its meeting on April 13, the Cabinet nullified its resolution No. 69 of February 28, 2015 on establishing concession agreements. Relevant officials were thus ordered to send a notice about the termination of the concession agreement on implementing a mining and metallurgical complex project, which was established between the Ministry of Economic Development and QSC company in April 4, 2014, to the company and transfer the management and assets of Darkhan Metallurgical Plant JSC from QSC.
The concession agreement states that the competent entity shall submit a proposal to terminate the agreement to the Cabinet on the basis that the project could not continue as project activities come to a stop for more than two years due to an error by the concession holder.
The concession holder has not built a plant with an annual capacity of not less than 500 thousand tons nor carried out extensions and upgrades to bring the capacity of Darkhan Metallurgical Plant to 300 thousand tons per year.
It was deemed that the project became inactive because the company failed to complete the measures to implement the project to extend Darkhan Metallurgical plant and develop a mining and metallurgical complex in the eight years since the establishment of the agreement and the company cannot implement the project.
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Fake Tesla release sends lithium miner’s stock on a wild ride www.bloomberg.com

Shares of Lithium Corp. whipsawed on Wednesday after an inauthentic press release circulated claiming electric-vehicle giant Tesla Inc. had acquired the Nevada-based miner.
Lithium Corp.’s stock more than tripled to $1.09 shortly before noon in New York before paring its gain. The shares were trading up about 25% at 1:16 p.m., while Tesla shares rose 3.1% to $1,017.19.
Screenshots of the bogus press release about a deal had been shared earlier on Twitter, including by well-followed fans of Elon Musk’s company. Tom Lewis, chief executive officer of Lithium Corp., told Bloomberg News that the deal was “fake news.” He added that the release didn’t come from his company and he was unsure where it came from.
Lithium Corp. subsequently issued a press release stating that it had not received “so much as an expression of interest from Tesla.” The company said none of its employees had left to join Tesla but that Lithium Corp. would be “happy to chat with Elon if he was inclined.”
Tesla didn’t respond to requests for comment from Bloomberg.
Some media outlets reported the false claims from the original press release. Lithium is key metal used in the production of EV batteries.
Images of the release appeared to show it was sent by 5W Public Relations, which denied distributing it.
“We do not know the origin of the press release or why our contact information is listed. We did not issue this release as we do not represent either company,” a spokesperson for the agency said.
(By Ed Ludlow)
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PM sets out ambitious goal to double Mongolia’s GDP in six areas www.news.mn

Mongolia’s government has outlined the details of a sweeping economic roadmap for post-Covid revival. Dubbed the ‘New Recovery’ policy, the reform package combines both structural policy changes, such as partial privatisation of some state-owned enterprises, and major infrastructure initiatives, including the approval for a light rail transit system in the capital.
Speaking at the Mongolia Economic Forum (MEF) 2022, Prime Minister L.Oyun-Erdene invited local businesses, foreign partners and international organisations to cooperate on a MNT 150 trillion investment goal, that aims to double GDP by clearing hurdles in six priority areas: energy, border ports, industrialization, urban and rural recovery, green development, and public sector efficiency. Approved by the Mongolian parliament in December, the policy comes atop the already-committed MNT 10 trillion for financial aid, helping to keep over 64,400 businesses afloat and save 360,000 jobs.
“Mongolia is open for foreign direct investment and tourism, directly thanks to my country’s handling of the pandemic and the large uptake of vaccines across the country thanks to the government’s vaccination drive. Our economic future will be driven by the ‘New Recovery Policy’ which is the government’s plan for economic growth and prosperity” said the Prime Minister.
As of a month ago almost all restrictions were lifted. Amongst those who would be classed as vulnerable, we have vaccinated 96% with one dose, 92% with two doses of vaccine, whilst 53% of those classed as vulnerable have had three vaccine doses. We have vaccinated around 70% of the overall population with one shot, 67% with two shots and over 32% with a third booster shot.
The Mongolian Economic Forum 2022 is the 9th time the event has been held at the Government Palace in Ulaanbaatar since its inception in 2010. The annual two-day forum was hosted by the Prime Minister of Mongolia and presents attendees with the opportunity to hear from the senior members of the government, as well as interview opportunities with ministers responsible for key policy measures. Experts from diverse fields also undertake panel discussions about the future of the Mongolian economy.
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Mongolia looking to export 36.7 million mt of coking coal to China www.news.mn

Mongolia is ramping up its efforts to supply raw material such as coking coal and copper to China in 2022 after a lackluster trade in 2021, as it expands its mining sector and boosts its transport network, said O.Batnairamdal, Vice-Minister at Mongolia’s Mining and Heavy Industry Ministry.
Mongolia is a key metallurgical coal and copper concentrates suppliers to China, with most of the trade happening through trucks. Mongolian truck suppliers in 2021 faced severe logistics issues in hauling shipments from land ports to China due to the pandemic-led restrictions at border crossings.
Mongolia is looking to launch three railway lines this year, which will bring the country’s mining sector to a whole new level, O.Batnairamdal said in an interview with S&P Global Commodity Insights.
Railway shipments will be much convenient, cost-effective, and safer with less human contact amid COVID-19 border restrictions compared to trucks, once the rail networks come online, O.Batnairamdal added.
Suppliers will use the new railway lines to ship coking coal and copper concentrates.
The Tavantolgoi-Gashuunsukhait railway line will come online in July, with 75% of the project complete so far. Meanwhile, construction on Zuunbayan-Khangi/Mandal railway lines started in March, and the country is aiming to start their operations later this year.
Transportation of Mongolia’s Erdenet copper concentrate through China’s Erenhot rail port was disrupted through December 2021 to January, due to China’s zero-COVID control policy. Despite transportation challenges, Mongolia still managed to export 335,000 mt of copper concentrates to China in the first quarter of this year, already meeting 25.6% of its annual target.
Mongolia exported 1.2 million mt of copper concentrates to China in 2021, accounting for 5.1% of China’s copper concentrate purchases, the minister said.
Mongolia is advancing its mining industry capabilities and the country has the potential to become the world’s fifth-largest copper player by 2030, O.Batnairamdal said. This is expected to happen following a major ramp-up of the Oyu Tolgoi mine, as full production is expected to reach in the next few years.
Oyu Tolgoi, in the South Gobi region of Mongolia, is one of the largest known copper and gold deposits in the world and it is expected to be the world’s fourth largest copper mine. Oyu Tolgoi is expected to produce around 500,000 mt of copper per year on an average from 2028 to 2036 from the open pit and underground operations, according to Rio Tinto. An average of around 350,000 mt of copper is expected to be produced from the operations for further five years. The mine produced 163,000 mt in 2021.
Mongolia is looking to export 36.7 million mt of coking coal to China this year.
If realized, Mongolian shipments in 2022 would post a 161% jump from 2021 level. The country exported 14.04 million mt of coking coal to China in 2021, accounting for a quarter of China’s total imports.
Source: Platts
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Roads closed due to April snowstorm across northern Mongolia www.news.mn

The roads were closed in both directions Thursday morning between capital city of Ulaanbaatar and northern parts of Mongolia due to an unprecedented April snowstorm.
Roads are covered an ice after sleet and heavy snow falls on Wednesday in northern provinces of Mongolia; namely, Selenge, Darkhan-Uul, Orkhon, Bulgan and Khuvsgul.
In Mongolia, March, April and May are spring months, with weather conditions changing widely day-to-day or hour-to-hour.
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Flour export conditions agreed with 13 factories of China www.montsame.mn

‘Food supply and security – Crop farming’ national farmers’ forum is taking place.
At the forum, D.Eson-Erdene, head of Soil, Plant Protection and Seed Variety Department, the Ministry of Food, Agriculture and Light Industry, said, “The government of Mongolia made a decision to issue a soft loan worth MNT400 billion to the agriculture sector within the framework of a comprehensive plan of MNT 10 trillion to protect citizens’ health and recover the economy. A loan worth MNT 100 billion will be provided to crop production and MNT 50 billion for vegetable production will be provided at three percent interest rate for two years.”
“With aims to ensure the stability of the food supply, we worked to increase the harvest. In this frame, soft loans have been disbursed to mill houses and processing factories. In Mongolia, there are factories with the capacity to process a million tons of wheat into flour. Relevant conditions and quarantine requirements for flour export have been agreed with 13 factories of China.”
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