1 ENTRÉE RESOURCES PROVIDES UPDATE ON ENTRÉE/OYU TOLGOI JOINT VENTURE LICENSE MATTERS WWW.INVESTINGNEWS.COM PUBLISHED:2025/12/23      2 CHINA QUIETLY LOADS 100+ ICBMS INTO NEW MISSILE SILOS NEAR MONGOLIA: REPORT WWW.FOXNEWS.MN PUBLISHED:2025/12/23      3 MONGOLIA PRESENTS PILOT RESULTS OF NATIONAL MULTIDIMENSIONAL POVERTY INDEX WWW.AKIPRESS.COM PUBLISHED:2025/12/23      4 NATIONAL CANCER CENTER INTRODUCES ADVANCED IMAGING, ROBOTIC SURGERY WWW.MONTSAME.MN PUBLISHED:2025/12/22      5 MONGOLIAN TUGRUG FIRMS MONTH ON MONTH AGAINST MAJOR CURRENCIES WWW.MONTSAME.MN PUBLISHED:2025/12/22      6 DP OPPOSES DEPUTY MINISTER APPOINTMENTS WWW.UBPOST.MN PUBLISHED:2025/12/22      7 “NOGOON NUUR 1008” PROJECT MANAGER DEPORTED AND BANNED FROM RE-ENTRY FOR THREE YEARS WWW.GOGO.MN PUBLISHED:2025/12/22      8 E-MONGOLIA PLATFORM MAKING TANGIBLE CONTRIBUTION TO DELIVERING PUBLIC SERVICES EFFICIENTLY TO CITIZENS WWW.MONTSAME.MN PUBLISHED:2025/12/22      9 18 STATE OWNED COMPANIES TO BE PUBLICLY TRADED WWW.GOGO.MN PUBLISHED:2025/12/22      10 MONGOLIA, RUSSIA AGREE TO WORK TOWARD RESTORING DIRECT FLIGHTS BETWEEN THEIR CAPITALS WWW.MONTSAME.MN PUBLISHED:2025/12/22      НИЙСЛЭЛИЙН 2026 ОНЫ ТӨСВӨӨР ШИНЭЭР 207 ТӨСӨЛ, АРГА ХЭМЖЭЭ ХЭРЭГЖҮҮЛНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/12/23     БНХАУ 100 ГАРУЙ ТИВ АЛГАСАГЧ ПУУЖИНГ МОНГОЛЫН ОЙРОЛЦОО БАЙРШУУЛСАН БАЙЖ БОЛЗОШГҮЙ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/12/23     ТӨГРӨГИЙН АМ.ДОЛЛАРТАЙ ХАРЬЦАХ ХАНШ 158 ТӨГРӨГӨӨР СУЛАРЧЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/12/22     ОУЭШ-Д АЖИЛЛАЖ БУЙ ШҮҮГЧ Д.ЭРДЭНЭБАЛСҮРЭНГ ТРАМПЫН ЗАСАГ ЗАХИРГАА ХОРИГТ ОРУУЛЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/12/22     "ИРЭХ ОНД ДОТООДДОО КОКСОН ТҮЛШНИЙ ҮЙЛДВЭР БАЙГУУЛЖ, ӨӨРСДӨӨ НИЙЛҮҮЛЭЛТЭЭ ХИЙНЭ" WWW.EGUUR.MN НИЙТЭЛСЭН:2025/12/22     ТАТВАРЫН ХУУЛЬД ӨӨРЧЛӨЛТ ОРСНООР 2.8 ИХ НАЯД ТӨГРӨГ ИРГЭН, ААН-Д ҮЛДЭНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2025/12/22     ЭНЭ ОНД 7 СУРГУУЛЬ, 19 ЦЭЦЭРЛЭГ, 7 БАГА СУРГУУЛЬ, ЦЭЦЭРЛЭГИЙН ЦОГЦОЛБОРЫГ АШИГЛАЛТАД ОРУУЛЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/12/22     ЭНЭ САРЫН 29-НД БҮХ НИЙТЭЭР АМАРНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/12/22     УЛААНБААТАР ХОТОД 9000 МЯНГАН ТОНН АИ-92 БЕНЗИН БУУНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/12/22     ТУУЛЫН ХУРДНЫ ЗАМЫН ЗОРЧИХ ХЭСГИЙГ 2027 ОНЫ ЗУН НЭЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/12/22    

Category

Events

Events

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

NEWS

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E-Mart Opens Sixth Store in Mongolia www.businesskorea.co.kr

E-Mart announced on Dec. 18 that it has opened its sixth store in Mongolia, E-Mart Tenger, in a key commercial district in eastern Ulaanbaatar, the capital of the country.
E-Mart Tenger is located on the first floor of the Dragon Tenger Bus Terminal and spans 2,545 square meters (approximately 770 pyeong). Last year, E-Mart opened its fifth store at the Dragon Terminal in western Ulaanbaatar, making this its second store targeting a transportation hub commercial area.
The most notable feature of E-Mart’s sixth store in Mongolia is the expansion of Korean products to up to twice the level of existing stores. To begin with, E-Mart has positioned No Brand, which enjoys strong popularity in Mongolia, at the very front of the store entrance as a 120-square-meter (36-pyeong) shop-in-shop, offering around 800 items including snacks and household goods.
A beauty-focused zone has also been established. The store features approximately 470 products from K-beauty brands such as Glow:Up by Beyond, a skincare brand developed in collaboration with LG Household & Health Care, as well as Innisfree and TonyMoly.
In addition, the store offers more than 50 menu items, including Korean foods such as gimbap, jokbal, and fried chicken, alongside local Mongolian dishes such as khuushuur and tsuivan.
E-Mart entered the Mongolian market in 2016 through a franchise agreement with local company Altai Group. Over the nine years since its entry, sales have increased 14-fold. E-Mart plans to further expand its presence next year by opening additional stores in new commercial areas and introducing new formats, including standalone No Brand stores and No Brand zones to be operated in collaboration with local retailers.
Jasmine Choi pr@businesskorea.co.kr

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China and Mongolia are battling to control massive dust storms www.theconversation.com

Dust storms regularly affect northern China, including its capital Beijing. In recent years, Chinese scientists and officials have traced the source of the dust storms to its neighbour Mongolia.
Much of the dust over Beijing in the spring of 2023, for example, originated from parts of Mongolia, seemingly driven by the warming and drying of the climate in the region.
Mongolia’s environment has come to be seen as China’s problem. Chinese netizens have blamed Mongolia’s herders and miners for the exploitation of natural resources and environmental destruction.
In pointing the finger at Mongolians, they ignore the role that Chinese demand for Mongolian resources plays in Mongolia’s environmental problems. In the south of Mongolia, it is dust churned up by mining trucks carrying coal to China on unpaved roads that locals are concerned about.
In August 2026, a major UN conference will be held in Ulaanbaatar, Mongolia’s capital, on the subject of tackling desertification. According to the Mongolian organisers of the conference, the country is one of the most severely affected by this process, whereby fertile land becomes like a desert and vegetation disappears, with almost 77% of its land now classified as degraded.
In recent years, China has sought to export its own expertise in preventing and tackling desertification to Mongolia, and this conference will provide a platform for China to showcase its global leadership on tackling this phenomenon.
Questions remain, however, about how Chinese anti-desertification measures might work within Mongolia. In China, for instance, these measures have often targeted herders, while in Mongolia, nomadic herding is central to ideas of national identity.
In the spring of 2023, China was hit by a series of unexpectedly severe dust storms. Vulnerable residents of Beijing were told to remain inside their homes as the sky turned an apocalyptic orange.
Dust storms like these originate from dry bare soil exposed to seasonal winds in semi-arid regions, often hundreds if not thousands of miles away.
Increasing dust emissions are linked to climate change, reducing rainfall and increasing temperature, and to desertification. Land degradation due to poor management practices exposes bare soil, as well as leading to the expansion of huge areas of “sand seas”, which kick up dust.
Massive dust storms hit Mongolia.
In recent decades, China has adopted a series of measures within its own borders in an attempt to prevent desertification. Notable among these has been the “great green wall”, initiated in 1978, which seeks to constrain the many deserts and sand seas in the north, north-east and north-west of the country by stabilising the shifting sand with extensive tree-planting. These also act as windbreaks.
Building a relationship?
In 2023, the China-Mongolia desertification prevention and control centre was established in Ulaanbaatar. At a meeting between China’s president Xi Jinping and his Mongolian counterpart Khürelsükh Ukhnaa, Xi pledged support for Mongolia’s “billion tree movement”. This initiative aims to plant that number of trees across the country by 2030.
Cooperation with Mongolia has also offered China an opportunity to demonstrate its expertise in desertification control techniques outside its borders.
Besides using traditional tree-planting and straw checkerboard sand barriers, Chinese engineers have developed techniques for immobilising sand dunes, as well as significant expertise in steel and concrete sand fence designs – and increasingly, in the installation of extensive solar panel farms, including novel vertical panels that also act as wind breaks. However, stopping sand dunes at the desert’s edge doesn’t necessarily prevent dust blowing off the soil in sparsely vegetated semi-arid land.
More broadly, China’s efforts to control desertification within its borders have targeted the livelihoods of herders, who are often from one of China’s ethnic minorities.
Official narratives have blamed herders for desertification, claiming they mismanage rangelands by accumulating excessive numbers of livestock. China’s top-down, state-led environmental plan has seen herders resettled away from the grasslands in a policy known as “ecological migration”. Those who remain have often been subjected to grazing bans or strict limits on the number of animals they can keep.
These policies are based on the privatisation of grassland use, often accompanied by the erection of fencing. This has severely reduced the mobility of herders. Some researchers suggest it is, in fact, this privatisation of land that is primarily responsible for the degradation of China’s grasslands.
It increases localised grazing pressure by preventing the herders and their livestock moving around. Enclosing large tracts of grassland to be turned into forests or solar farms further reduces the land available to herders.
So will China’s model of desertification prevention and control be exported to its neighbours? A recent headline in the South China Morning Post describes the possible expansion of China’s great green wall into Mongolia. Further afield, China has been a model for a similar project in Africa.
The idea of a Chinese great wall, however “green”, expanding into Mongolia would be unpalatable to many Mongolians, because of their deep anxieties over China’s territorial ambitions.
Official announcements from China talk instead of the joint construction of an “ecological security barrier” on the Mongolian plateau, which straddles the border between the two countries.
Unlike China, Mongolia’s grasslands remain largely unfenced. The country is proud of its nomadic heritage, and the kind of large-scale fencing of rangelands and livestock reduction programmes that have been seen in China would be highly contentious in democratic Mongolia.
For now, cooperation remains confined to small, isolated “demonstration zones”, scientific exchange, and support for Mongolia’s own billion-tree movement – which, not surprisingly perhaps, makes no reference to walls.
The upcoming UN conference in Mongolia will take place during the UN’s International Year of Rangelands and Pastoralists. It remains to be seen how China’s environmental diplomacy there engages with the growing international recognition of the positive role that herders can play in fostering biodiversity, and in helping prevent grasslands becoming deserts.
Jo Adetunji
Editor, The Conversation UK

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Bank of Mongolia Keeps Policy Rate Unchanged www.montsame.mn

The Monetary Policy Committee (MPC) of the Bank of Mongolia held its scheduled meetings on December 10-11, 2025. Considering the current state of the macroeconomy, banking sector, and financial markets, as well as the domestic and global economic outlook and risks, the MPC decided to:
Keep the policy rate unchanged at 12 percent;
Exclude from the reserve requirement an amount equivalent to the outstanding balance of loans secured by pension and social welfare income;
If loans secured by pension and social welfare income are extended once, with total maturity not exceeding 36 months, and the monthly repayment burden is reduced accordingly, such loans shall retain their original asset classification without being reclassified as restructured assets;
Reduce the risk weight applied to pension-backed loans from 150 percent to 100 percent.
In November 2025, annual inflation stood at 8.2 percent nationwide and 8.7 percent in Ulaanbaatar. The decline in inflation from the previous month was mainly driven by the fading of base effects stemming from earlier increases in administratively regulated service prices. However, the poor harvest pushed up vegetable prices, while meat prices did not follow their usual seasonal decline in the autumn months, thereby intensifying food inflation. Furthermore, next year’s wage increases are projected to raise the inflation outlook relative to previous estimates. As a result, inflation is expected to enter and stabilize within the target range in 2026. However, the financing of government projects, export revenues, and the exchange-rate outlook, as well as weather conditions and supply-driven price changes, could pose upside risks to inflation.
The economy grew by 5.9 percent in the first three quarters of 2025, broadly in line with our expectations. Growth was largely driven by the agriculture and mining sectors, and the outlook for economic growth remains unchanged.
Compared with the time of the previous policy decision, global and Chinese growth prospects have improved, as the impact of U.S. tariffs has been smaller than analysts initially expected, and gold and copper prices have risen faster than anticipated. Although external conditions have thus improved, uncertainty remains elevated.
The decision to keep the policy rate unchanged is consistent to stabilize inflation at the target level over the medium term and strengthening the stability of the economy and the financial sector. This decision also serves as a measure aimed at reducing the funding costs of bank lending. In addition, possible policy options to ease the monthly repayment burden of pension loans were discussed.

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UK-Funded Project to Boost English Skills in Remote Areas of Mongolia www.montsame.mn

UNICEF Mongolia, in collaboration with the Ministry of Education, has launched the second phase of the project “Breaking Language Barriers,” funded by the British Government. The parties signed the agreement for Phase II of the project on December 17, 2025.
At the signing ceremony, Minister of Education Naranbayar Purevsuren underlined that the first phase of the project had significantly supported the introduction of English as an additional programme from grade three in general education schools starting from the 2025–2026 academic year.
According to the Ministry of Education, the first phase was implemented earlier this year, providing more than 100 hours of training to over 320 English teachers from all soums of Bayan-Ulgii, Bayankhongor, and Sukhbaatar aimags. As a result, 39 percent of participating teachers improved their English proficiency level, while more than 540 students joined 15 English-speaking clubs in those aimags, and 126 digital devices were delivered to 26 schools to support e-learning environments.
The second phase will be implemented in Bulgan, Arkhangai, Khuvsgul, Khentii, and Dundgobi aimags, aiming to enhance the language and teaching skills of more than 450 English teachers and to train a new cohort of mentor teachers. Phase II of the project “Breaking Language Barriers” is expected to reach 20,000 rural students, while Phase I brought English education to 12.000 students.

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Parliament Ratified Interim Trade Agreement www.montsame.mn

At its plenary session on December 12, 2025, the State Great Khural (Parliament) approved the Interim Trade Agreement between Mongolia and the Eurasian Economic Union (EAEU) and its member states, submitted by the Government. With the ratification of this agreement, conditions have been created for the mutual export and import of 367 types of goods on a duty-free basis.
In addition, Mongolia will be able to import from EAEU member states 367 categories of food products that are not produced domestically, as well as heavy machinery and equipment, chemical fertilizers, and nitrogen-based fertilizers.
The Government considers that the agreement will contribute to increasing non-mining exports, job creation, and overall economic activity. Under the EAEU interim trade agreement, customs clearance can be completed within four hours, and exporters are now able to self-certify certificates of origin for goods valued at up to EUR 5,000. This is expected to have a positive impact on Mongolian enterprises.
The agreement does not cover investment, trade in services, banking and finance, or payment and settlement issues. It is limited strictly to the agreed list of 367 goods. Nevertheless, it offers advantages such as enhanced cooperation between customs authorities, improved efficiency and promptness, resolution of obstacles encountered in foreign trade, and reductions in transaction costs.
The Interim Trade Agreement with Mongolia has been concluded for three years and can be extended for the same period. After the first three years of the agreement, the parties can begin negotiations on a full-fledged free trade zone.
The Member States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, and the Russian Federation.
The Union is being created to comprehensively upgrade, raise the competitiveness of, and enhance cooperation between the national economies, and to promote stable development in order to raise the living standards of the nations.

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Mining and Extractive Industry Sales Up by MNT 2.7 Trillion from 2024 www.montsame.mn

According to preliminary results for the first 11 months of 2025, total industrial output reached MNT 47.1 trillion, the National Statistics Office reported. This represents an increase of MNT 753.7 billion compared with the same period in 2024.
Manufacturing output rose by 9 percent, while the electricity, gas, steam, and air conditioning supply sector increased by 33.6 percent. As a result, total industrial production grew by a preliminary MNT 7.5 trillion.
In particular, output in the food production sector increased by MNT 371.5 billion, while production of non-metallic mineral products rose by MNT 138.2 billion.
In the mining and extractive industries, output volumes of brown coal, zinc concentrate, iron ore concentrate, fluorspar, iron ore, and copper concentrate in metal content terms, and physical volumes of fluorspar concentrate increased by 3.6 to 66.6 percent compared with the same period last year.
In the manufacturing sector, the physical output of key products such as liquid milk, cathode copper, cement, flour, lime, and combed cashmere increased by 2.9 to 3.4 times year on year.
However, production of unrefined gold, hard coal, crude oil, and silver concentrate declined. In addition, output of major products, including livestock meat, metal billets, water, soft drinks and juices, vodka, cashmere knitwear, rectified alcohol, cigarettes, and coal briquettes, decreased by 0.6 to 49.2 percent.
Preliminary figures show that total industrial sales amounted to MNT 51.8 trillion, up MNT 4.5 trillion from the same period in 2024. Of this increase, sales in the mining sector alone rose by MNT 2.7 trillion.
Sales of the mining and extractive industries increased by MNT 2.7 trillion year on year. Sales in the metal ore mining sector rose by 72.1 percent, while sales in other mineral mining increased by 15.2 percent.
On external markets, preliminary sales totaled MNT 36.4 trillion, of which MNT 34.6 trillion came from the mining and extractive industries.
Of total foreign sales of mining products, coal mining accounted for 37.6 percent, metal ore mining for 58.5 percent, crude oil extraction for 2.4 percent, and other mineral mining for 1.4 percent.

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Private Sector to Invest in the Education of Children in Remote Soums and Baghs www.unicef.org

 In partnership with the Ministry of Education and UNICEF Mongolia, the “One Bagh One School” initiative was officially launched today. The goal of this initiative is to deliver accessible, inclusive, and quality primary education services in remote rural baghs (the smallest administrative unit in Mongolia) through schools that are child friendly, climate resilient, environmentally sustainable, and aligned with the Sustainable Development Goals.
UNICEF Mongolia is mobilizing resources in collaboration with private sector partners to implement this initiative, and today, the first investment agreements were officially signed.
Within their corporate social responsibility programs, Khan Bank and Monpolymet Group are jointly investing a total of 4.2 billion MNT in this effort. This marks not only a significant investment in the education sector but also the beginning of a new way of collaboration between government, private sector, academia, and development organizations.
With this investment, new primary schools will be established in five baghs of Tuv, Uvs, Khovd, and Khuvsgulprovinces, enabling over 370 children each year to attend school closer to home. Special focus will be given to providing a conducive learning environment for children of border protection officers and staff working and residing at locations such as the Borshoo border checkpoint in Uvs province and Uench soum of Khovd province.
“Every year, around 36,000 children live in dormitories for nine months, far from their families, to access education. On average, these children need to travel between their homes and schools six times a year using various means of transportation. It is essential to ensure that children from herder families in rural areas and children of border protection officers have access to quality primary education in a safe and comfortable environment near their homes. Effective partnerships and sustainable cooperation between the government and the private sector play a crucial role in successfully achieving this goal,” emphasized Minister of Education P. Naranbayar.
UNICEF Representative Evariste Kouassi-Komlan highlighted, “One Bagh One School initiative is more than just a project. It’s a promise to children that they will have the right to education, no matter where they live. Today’s agreement is an excellent example of how the government, private sector, academia, and international organizations can join forces for the wellbeing of children. Many other companies have also expressed interest in supporting this initiative, and together we will be able to deliver quality, accessible, and inclusive education to even more children.”
Khan Bank CEO R. Munkhtuya shared, “We are delighted that our team at Khan Bank is contributing to enabling children in remote areas of our vast country to access quality primary education in a safe and comfortable environment close to home. As a result of this project, by the end of this year, child friendly, climate resilient schools will be established in five remote locations, allowing more than 370 children aged 2-10 to start attending school near their homes. We are confident that this initiative will become a meaningful investment in supporting the education, dreams, and future of Mongolia’s children.”
Chairwoman of Monpolymet Group N. Munkhnasan added, “We have begun implementing projects in partnership with UNICEF to upgrade digital classrooms and organize capacity-building trainings for local teachers and students. Ensuring equal access to education, regardless of geographic location, lays the foundation for nurturing knowledgeable, skilled citizens and building the future of Mongolia.”
Currently, of the 1,575 baghs nationwide, only 44 have primary schools, which is an insufficient number. As a result, many children in rural areas must leave their families and live in dormitories at soum centers to pursue education — a situation that negatively affects students’ emotional well being, academic performance, and limits parental care and engagement. The One Bagh One School initiative aims to reduce these adverse effects by enabling children, especially those with disabilities, to access education in schools located near their homes, supported by their families and communities.
By 2027, UNICEF and its private sector partners aim to establish at least 60 bagh primary schools across the country.

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Mongolia's industrial output rises 1.6 pct in first 11 months of 2025 www.xinhuanet.com

Mongolia's industrial output rose by 1.6 percent in the first 11 months of 2025, compared to the same period a year earlier, the country's National Statistics Office said Wednesday.
The industrial output amounted to 47.1 trillion Mongolian tugriks (about 13.2 billion U.S. dollars) in the January-November period, according to the office.
The increase was mainly the result of a rise in the output of processing industry, it added.

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Parliament Examines Oyu Tolgoi Agreements, Benefits in Multi-Day Evidence Hearing www.montsame.mn

A hearing to examine evidence was held from December 8 to 12 at the State Palace by the Temporary Investigative Committee of the State Great Khural, tasked with overseeing documents and activities related to safeguarding Mongolia’s interests and increasing the benefits derived from the exploitation of the Oyu Tolgoi group of deposits.
The committee was established by Resolution No. 62 of the State Great Khural (Parliament) of 2025. Member of Parliament Batnairamdal Otgonshar serves as Chair of the Temporary Investigative Committee, with MPs Badamsuren Myagmarsuren, Bat-Erdene Bat-Ulzii, Bayarbaatar Bayarmagnai, Bolormaa Enkhbat, Zulpkhar Sarkhad, Byambasuren Shinebayar, Ganzorig Purevjav, Jargalan Batbayar, Purevdavaa Davaakhuu, and Shijir Ulziikhuu serving as members.
Closing the hearing, MP Batnairamdal, Chair of the Temporary Investigative Committee, stated, “This evidence examination hearing is the sixth of its kind in the history of the Mongolian Parliament, and it recorded the highest average attendance rate, at 70 percent. The Oyu Tolgoi project remains critically important to Mongolia’s economy, not only for today’s citizens but also for future generations. Therefore, this is precisely the right time to discuss the consequences of the project and the solutions we should pursue going forward.”
He emphasized that the three-day hearing was not intended to assign blame to any individual or group. Rather, individuals who had not met face-to-face for 16 years since the contract was concluded, and who had long held differing and conflicting views, came together to discuss investments totaling USD 22 billion, an amount comparable to the size of Mongolia’s economy, within a legal and regulatory framework.
The ad hoc committee chair also noted that from 2030 onward, Oyu Tolgoi is expected to become the world’s third-largest copper producer. He stated, “For more than 20 years, since 2006, one of the world’s leading mining companies, the Rio Tinto Group, has been implementing this major project in Mongolia, and we appreciate that. I am confident that our partnership will continue and that we will move forward together for many decades to come. Sixteen years more than half of the 30-year investment agreement have already passed.
There is no denying that the time has come to evaluate the agreement, its implementation, related processes, and their consequences, and to make decisions accordingly. Mongolia’s 3.5 million citizens have come to understand this. When we discuss issues together, comprehensively and at their root, solutions and pathways forward emerge. The key is to speak openly and transparently before the people. One major mistake in the past was the persistent concealment of information, which created an extreme imbalance of information among stakeholders. All parties have suffered as a result. Going forward, we must correct this and build greater mutual trust.”
The chair expressed his hope that, as a result of the evidence examination hearing and the work of the Temporary Investigative Committee, a new era would begin for the Oyu Tolgoi project, founded on trust and mutual benefit. He stressed that throughout the three days of open, multi-perspective discussions on developments over the past 20-plus years, Mongolia’s national interests were consistently placed at the forefront.
On the first day of the hearing, held on December 8, discussions focused on determining the State’s ownership share based on the established reserves and valuation of the “Javkhlant” (MV-15225) and “Shivee Tolgoi” (MV-15226) mining license areas, as well as related documentation. On the second and third days, on December 10 and 12, evidence was examined regarding the interest rates on financing under the amended and restated shareholders’ agreement of Oyu Tolgoi LLC, measures undertaken to reduce those rates in line with international market benchmarks, and the associated impacts.
During the hearing, 14 television channels and media outlets broadcast the proceedings live nationwide and to Mongolians abroad.
MP Batnairamdal noted that the Temporary Investigative Committee had worked for more than five months since July 2, 2025. During this period, committee members, investigators, and experts reviewed evidence, conducted analyses, and presented findings to the public in an accessible manner, guided by the principle that “this is the property of the people of Mongolia, the Constitution must be upheld, and the rightful owners of the nation’s wealth should receive their fair share.” He emphasized that the discussions focused on the management and use of public assets, adding that the most important outcome of the hearing must be concrete solutions that are actually implemented.
Highlighting that construction of the Oyu Tolgoi underground mine is being completed this year, MP Batnairamdal underscored that the project is undergoing a major transition from 16 years of construction to becoming a stable producer and a major mining company. Accordingly, he stated that the originally agreed 53 percent share of benefits for Mongolia must be realized, warning that failure to do so could lead to serious risks and consequences.
The Temporary Investigative Committee reiterated that its objective is to ensure Mongolia’s national interests and to increase the benefits derived from the Oyu Tolgoi project to a fair and justified level. It emphasized that the current generation now bears the responsibility to learn from the successes and mistakes of the past 16 years and to preserve the country’s natural wealth for future generations. “Regardless of political affiliation, Mongolians must unite at this moment, jointly arrive at solutions, and move forward together,” the chair stated. In closing, he expressed gratitude to all witnesses, observers, and participants who took part in the three-day hearing; to media organizations that ensured openness, transparency, and the public’s right to know; to the staff of the Secretariat of the State Great Khural who organized the hearing; and to the investigators, experts, and members of the Temporary Investigative Committee.
Of the approximately 300 witnesses summoned to the hearing, notices were delivered to 266, and 207 witnesses participated, representing 70 percent of those called. In addition to committee members, investigators, and experts, the hearing was attended by 17 officials from five relevant government institutions, five employees from two state-owned enterprises, one observer, and 52 participants representing citizens and non-governmental organizations, according to the Parliament’s Press and Media Department.

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Government to Submit Draft Resolution on Privatization and Public Offering of State Assets www.montsame.mn

At its session on December 15, 2025, the Cabinet discussed and decided to submit to the State Great Khural (Parliament) a draft parliamentary resolution titled On Approving the Main Guidelines for the Privatization and Restructuring of State Property and the Public Offering of Shares of State-Owned Legal Entities through the Stock Exchange for 2025–2028.
Under the draft guidelines, the Government proposes to offer 10 to 66 percent of state-owned shares in 18 state-owned companies and enterprises operating in the aviation, energy, finance, mining, insurance, and selected trade sectors through the stock exchange, transforming them into publicly listed companies. The proposal also includes the full privatization of eight state-owned companies, as well as the merger, consolidation, and restructuring of seven state-owned companies and enterprises.
In addition, plans are outlined to offer portions of shares in a further six state-owned companies to the public and to fully divest the state’s ownership in five additional companies at a later stage.
If implemented, these measures would reduce the number of 100 percent state-owned companies and enterprises, increase the number of publicly listed companies, and decrease the total number of state-owned entities by 19, or 18.8 percent, bringing the total to 82.
The draft further specifies that additional ordinary shares of the following state-owned legal entities will be issued and offered to the public:
Telecom Mongolia JSC
Mongolian Commodity Exchange LLC
Mongolian National Reinsurance JSC
Mongolian Stock Exchange JSC
Agricultural Corporation LLC
Shivee-Ovoo JSC
Baganuur JSC
MIAT Mongolian Airlines SOE
State Bank JSC
Erdenes Tavantolgoi JSC
Erdenet Mining Corporation SOE
Erdenes Critical Minerals SOE
Thermal Power Plant No. III JSC
Thermal Power Plant No. IV JSC
Erdenet Thermal Power Plant JSC
Eastern Regional Energy System SOE
Darkhan Thermal Power Plant SOE
Amgalan Thermal Power Plant SOE

...


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