1 DRIVING FINANCIAL INCLUSION IN MONGOLIA: INVESTMENT IN INVESCORE WWW.TRIODOS-IM.COM PUBLISHED:2026/01/15      2 ‘ERDENES TAVANTOLGOI’ JSC SETS ALL-TIME DAILY RECORD FOR COAL EXPORTS WWW.MONTSAME.MN PUBLISHED:2026/01/15      3 SOUTH KOREA JOINS CHINA, JAPAN, GERMANY, RUSSIA AND KAZAKHSTAN IN ACCELERATING MONGOLIA TOURISM BOOM WITH RECORD-BREAKING VISITOR SPEND, STRONG WINTER DEMAND AND RISING FOUR-SEASON TRAVEL APPEAL WWW.TRAVELANDTOURWORLD.COM PUBLISHED:2026/01/15      4 US PAUSES IMMIGRANT VISA PROCESSING FOR 75 COUNTRIES, 13 IN ASIA-PACIFIC WWW.THEDIPLOMAT.COM PUBLISHED:2026/01/15      5 MONGOLIA WELCOMES MORE THAN TWENTY ONE THOUSAND TOURISTS IN JANUARY 2026, HIGHLIGHTING ITS STRONG WINTER TOURISM GROWTH AND ESTABLISHING ITSELF AS A FOUR-SEASON DESTINATION WWW.TRAVELANDTOURWORLD.COM PUBLISHED:2026/01/15      6 MONGOLIA, CHINA REAFFIRM COMMITMENT TO RAISE TRADE TURNOVER TO USD 20 BILLION WWW.MONTSAME.MN PUBLISHED:2026/01/15      7 MONGOLIA REPORTS POSITIVE FOREIGN TRADE BALANCE WWW.MONTSAME.MN PUBLISHED:2026/01/15      8 GOVERNMENT TO UPDATE NATIONAL E-SERVICES REGISTRY NEXT MONTH WWW.MONTSAME.MN PUBLISHED:2026/01/15      9 ASTANA TO HOST 10TH KAZAKHSTAN - MONGOLIA INTERGOVERNMENTAL COMMISSION MEETING IN 2026 WWW.QAZINFORM.COM PUBLISHED:2026/01/15      10 9 MONGOLIAN PROVINCES EXPERIENCE HARSH WINTRY WEATHER WWW.XINHUANET.COM PUBLISHED:2026/01/15      МОНГОЛ УЛС ХЯТАД УЛСТАЙ ХАРИУЦЛАГАТАЙ НОГООН УУЛ УУРХАЙГ ХӨГЖҮҮЛЭХ ХАМТЫН АЖИЛЛАГААГАА ГҮНЗГИЙРҮҮЛНЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/15     “ВИЗ МЭДҮҮЛЭГЧИД ВИЗИЙН МЭДҮҮЛГЭЭ БӨГЛӨН, ТОВЛОСОН ЦАГТАА ЯРИЛЦЛАГАДАА ОРНО” WWW.EGUUR.MN НИЙТЭЛСЭН:2026/01/15     БНХАУ-ТАЙ ХАМТРАН ХИЛ ОРЧМЫН БҮСЭД ГЕОЛОГИЙН СУДАЛГАА ХИЙХЭЭР БОЛЛОО WWW.EAGLE.MN НИЙТЭЛСЭН:2026/01/15     SPRING AIRLINE КОМПАНИ ШАНХАЙ-УЛААНБААТАР-ШАНХАЙ ЧИГЛЭЛД ШУУД НИСЛЭГ ҮЙЛДЭХЭЭР ТӨЛӨВЛӨЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2026/01/15     О.ЦОГТГЭРЭЛ: АН АНХАН, ДУНД ШАТНААСАА 100 ХУВЬ ШИНЭЧЛЭЛ ХИЙНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/15     ТРАМПЫН ЗАСАГ ЗАХИРГАА МОНГОЛ ЗЭРЭГ 75 УЛСЫН ИРГЭДЭД ЦАГААЧЛАЛЫН ВИЗ ОЛГОХЫГ ЗОГСООЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/15     ДУЛААНЫ ТАВДУГААР ЦАХИЛГААН СТАНЦЫН БАРИЛГА УГСРАЛТЫН АЖЛЫГ ЭНЭ ОНД ЭХЛҮҮЛНЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/15     ОРОН СУУЦНЫ ҮНЭ ӨМНӨХ ОНООС 13.6 ХУВИАР ӨСӨЖ, ХАН-УУЛ ДҮҮРЭГТ ХАМГИЙН ӨНДӨР ҮНЭТЭЙ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2026/01/15     “ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК БҮХ ЦАГ ҮЕИЙН НҮҮРСНИЙ ЭКСПОРТЫН ХОНОГИЙН ДЭЭД ХЭМЖЭЭГ ШИНЭЧЛЭН ТОГТООЖЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2026/01/15     “ХОЁРДУГААР ТОЙРОГ ЗАМ” ТӨСЛИЙГ ИРЭХ 10-20 ЖИЛИЙН ХӨДӨЛГӨӨНИЙ ЭРЧМИЙГ ДААХ ШИЙДЭЛ ГЭВ WWW.GOGO.MN НИЙТЭЛСЭН:2026/01/15    

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Events

Events

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

NEWS

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China accounts for over 80% of Mongolia's foreign trade www.open.kg

At a meeting held on January 10 at the National Chamber of Commerce and Industry of Mongolia, representatives of government structures and enterprises with Chinese capital discussed important issues.
The main goal of the meeting was to improve interaction between government agencies and Chinese companies operating in Mongolia.
According to the president of the Chamber, B. Lkhagvajav, the trade turnover between Mongolia and China reached 16.5 billion US dollars, which accounts for about 80% of the country's total foreign trade. Over the past ten years, this figure has increased from 1 billion to 16 billion dollars, confirming the successful development of bilateral relations.
He also noted that this event became an important platform for discussing key areas of the economy, such as the mining sector, construction, agriculture, and the food industry. In particular, attention was paid to issues related to taxes on mineral resources, which have been a source of controversy for several years. These problems hinder the attraction of foreign investments and negatively affect the financial condition of local companies.
B. Lkhagvajav also pointed out shortcomings in labor legislation that hinder the attraction of highly qualified foreign specialists. He added that during the spring session of the Great State Khural, legislative initiatives aimed at improving the investment climate and business conditions will be discussed.
Currently, more than a thousand Chinese companies operate in Mongolia. The modern international situation underscores the importance of establishing strong and trusting relationships with neighboring countries.
The economic and trade counselor of the Chinese Embassy in Mongolia, Liu Jinqi, noted that the mining sector is a key element of economic cooperation between the two countries. The growth of trade and investment in this area confirms the dynamic development of bilateral relations.
Economic cooperation between Mongolia and China demonstrates successes not only in the mining sector but also in agriculture. Liu Jinqi emphasized that it is important for the governments of both countries to strengthen political coordination and develop intergovernmental relations.
Mongolia should strive to enhance the transparency and stability of its tax system, improve the legal framework in labor relations and labor protection, as well as to generally improve the investment climate.
If necessary measures are taken, bilateral trade will continue to grow, and economic cooperation will expand.
The director of the company "Mergen Tur," T. Enkhtur, highlighted the importance of signing a Memorandum of Cooperation between the Chambers of Commerce and Industry of China and Mongolia during the meeting. He expressed hope that this document will support enterprises in both countries.
The Mongolian economy still heavily depends on the export of mining products. At the same time, there is significant potential for exporting agricultural raw materials and processed products outside of this sector. T. Enkhtur expressed hope for joint efforts with the Chamber of Commerce and Industry of China to support these areas.
Diversification of exports and stable supplies of agricultural products to the Chinese market remain priority tasks, which are important for both business and increasing the incomes of herders.
The company is also engaged in the production and export of light industry goods, including small leather products. However, when entering international markets, it faces challenges related to high import duties in China, which reach 17%, while in Mongolia they average 5%. T. Enkhtur emphasized the need to explore the possibility of reducing these rates and considering relevant initiatives.
The event was attended by representatives of 230 Mongolian and 60 Chinese companies, who actively discussed issues of cooperation and business partnerships.

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Faye Steele: Living in Mongolia has taught me to be patient www.gogo.mn

For this edition of our “Mongolia Through Foreign Eyes” column, we sat down with Faye Steele, a citizen of the United States. She currently works as an ESG Strategy Specialist at Mobicom Corporation and has been living and working in Mongolia for over a year.
Name: Faye Steele
Nationality: United States
Age: 28
Length of stay in Mongolia: 1 year and 2 months
Current position: ESG Strategy Specialist
Q: First of all, please introduce yourself. 
My name is Faye Steele. I grew up in New York. Here in Mongolia, when people hear that I’m from NYC, they often get very excited and ask questions like, “Do you live near Times Square?” I usually have to explain that I actually live in the suburbs, about 30 minutes by train, on Long Island. 
Long Island is surrounded by the Atlantic Ocean and Long Island Sound, so there are many beaches and national parks nearby. It also has a rich history, including many Gatsby-era houses. Some of these historic homes are still preserved and open for tours, which I really enjoy visiting with my family during the summer. 
Professionally, I am a sustainability specialist. I have worked for over five years in the non-profit sector, researching sustainability issues and collaborating with policy professionals to better understand environmental challenges and opportunities. 
I am currently working at Mobicom Corporation. This is my first corporate job, so I am learning a great deal. The technology sector is also very new to me. Previously, my work focused mostly on the finance sector and on U.S. and global sustainability issues rather than Mongolia specifically. As a result, I am learning a lot—both about Mongolia and about the tech industry. 
Q: Could you share your first impressions upon arriving in Mongolia for the first time? 
It was a year and two months ago. When I first arrived in Mongolia, I came through the new Chinggis Khaan International Airport. The first thing I noticed, as I got into a taxi, was the mountains. I was completely mesmerized by them. Where I come from in New York—Long Island, where my family lives—there are no mountains at all. I remember thinking, Wow, how fun it would be to hike up those mountains or even roll down them with carefree thoughts. 
I was also surprised by how modern the city looked, especially the buildings. Even since I moved here, many new buildings have appeared. New York is a very old city, so there isn’t as much new infrastructure being built. Seeing how quickly things are changing in Ulaanbaatar really impressed me. 
Q: What motivated you to come to Mongolia to work and live? 
I came to Mongolia through the Princeton in Asia Fellowship Program. Each year, the program selects up to ten fellows to work in Mongolia at companies, NGOs, and universities. This year, there are six fellows in total, and I am one of them. 
The program also offers placements in other Asian countries, such as Japan and Thailand. However, Mongolia was my top choice because many of the opportunities here are related to sustainability, which aligns perfectly with my career goals. 
My first job in Mongolia was at the Mongolian Sustainable Finance Association. That role marked the beginning of my work in sustainable finance and sustainability within the Mongolian context. 
Q: So, this is your first time working abroad, right?
Yes, this is my first experience as an expat. 
Q: How do you adapt to new things in Mongolia?
Many aspects of life here are very different from home. One of the first things I noticed was the high altitude of Ulaanbaatar. The city is much higher than where I lived in New York, and at first this caused fatigue and some difficulty breathing due to the thinner air. It took time to adjust, but now it feels normal. 
Air pollution was another major adjustment. Even in New York City, I had never experienced pollution at this level. During winter, I rely on a special filter mask to protect my health. I’m always surprised to see some foreigners walking around without masks, but I’m quite cautious when it comes to my health. 
The cold weather was also challenging. While it does snow in New York, it never gets as cold as it does here. In Mongolia, temperatures can drop to minus 20 degrees Celsius or even lower. Thankfully, Mongolia offers excellent winter clothing. I found warm and high-quality yak, camel, and cashmere items at places like Narantuul Market and Sunday Plaza. 
Q: Where do you live, and what kind of transportation do you usually use?
I live very close to my office, near the Amusement Park area. It’s less than a 10-minute walk to work. Even at my previous job, I lived close to the office. I used to live near the Circus and moved across the park this year for my new position. 
I usually only use public transportation on weekends. During weekdays, traffic is very heavy, so walking is much more convenient. 
Q: How do you usually spend your free time in Mongolia?
My colleagues say I’m very active, though I sometimes feel like I’m still not doing enough because there’s so much to experience in Mongolia. 
I’ve joined a badminton club, and last year I was part of the Hatun Badminton Club near the Wrestling Palace. This year, I joined another club near Tengis Cinema, where I play two to three times a week. On weekends, I sometimes attend local basketball or volleyball games with friends. 
I also enjoy going to the opera, ballet, and movie theaters. I’m always looking for new activities. I’ve met many interesting people here, and sometimes they host events that I enjoy attending. I try to stay open to new opportunities outside of work. 
Q: Which Mongolian dish do you enjoy the most?
My favorite dish is actually bantan, which is often considered a hangover food. People usually react with surprise when I say that and joke that it’s baby food. But I really love its simple and comforting flavors. I often find it when traveling to the countryside, but it’s surprisingly hard to find in Ulaanbaatar. 
Q: Have you had the opportunity to travel to the countryside? What impressed you most?
Yes, I’ve traveled to several provinces. Most recently, I visited Uvs aimag for the Naadam Festival and Huvsgul aimag for the Ice Festival. I also joined a countryside retreat with young professionals and went camel riding during a trip with the Brilliant Tree Fund project team. 
I visited the birthplace of Chinggis Khaan, which was incredibly meaningful and beautiful. I also traveled to Bulgan aimag. Each trip has shown me a different and fascinating side of Mongolia. 
Q: Are you learning the Mongolian language?
Yes. Learning the local language is an important part of the Princeton in Asia Fellowship. I started studying Mongolian one or two months before moving here and continue to take weekly lessons at the American Center for Mongolian Studies. My teacher is wonderful, especially at helping me with pronunciation, which makes learning enjoyable. 
Q: How difficult is Mongolian compared to other languages?
I actually find Mongolian easier than Japanese or Mandarin, both of which I’ve tried learning. I speak English and some Spanish, and Mongolian is now my third-strongest language. 
I can express myself a little in Mongolian, though I’m still shy about speaking. I’m more comfortable texting, but my coworkers are encouraging me, and I hope to become more confident soon. 
Q: What impressed you most about traditional celebrations like Naadam and Tsagaan Sar?
Naadam really stood out to me, especially the three traditional sports—wrestling, archery, and horse racing. At first, I didn’t fully understand how the competitions worked or how winners were determined. But once I understood, I found myself cheering along with everyone else. 
I attended the Ulaanbaatar Naadam ceremony last year and later went to the Naadam celebration for Uvs aimag’s 100th anniversary. The celebration in Uvs was my favorite—the food, energy, and performances were incredible. 
Q: How would you describe work culture in Mongolian companies?
I find the work culture in Mongolia to be more flexible. There is still a sense of hierarchy, especially at Mobicom due to the Japanese influence from its parent company, KDDI. However, there is generally more flexibility—for example, lunch breaks are often longer than in the U.S. 
In the United States, lunch is usually only 30 minutes to an hour before returning straight to work. Here, team members seem more supportive, and I find it easy to communicate with my manager, ask for help, and share ideas. My ideas have been well received, which I really appreciate. 
Work social events are also different. In Mongolia, senior leaders tend to stay and actively participate in company events, rather than briefly appearing and leaving. This creates a warmer and more inclusive atmosphere. 
Q: What services or technologies would you like to see developed in Mongolia?
One area I’d really like to see improved is the delivery system for mail and packages. Even now, it’s quite difficult to receive packages reliably. I usually have items sent to my office to make sure they arrive. 
When I returned to the U.S. for a few months last fall while waiting for my new visa, friends asked me to bring items back with me because it was easier than ordering them online. Given how much delivery services expanded after COVID, I think this is a missed opportunity that could be significantly improved. 
Q: What is the most important thing you’ve learned since coming to Mongolia? 
Patience. Living here has taught me to be patient, both at work and in social situations. Mongolians can sometimes be slower to open up to unfamiliar people, especially foreigners. I’ve learned to be consistent, friendly, and open. Over time, people become more comfortable, and meaningful connections develop. 
Q: How many Mongolian friends have you made, apart from your colleagues?
I’ve met quite a lot of people because I stay very active. I’m part of the Global Shapers community, an initiative of the World Economic Forum, which brings together young professionals in Ulaanbaatar. There are around 20–30 members, and we often organize social activities. 
I’ve also met friends through events like Creative Mornings and through a running club. Even though I don’t run in winter because of the pollution, I still keep in touch with people I met there. 
Q: Do you have a boyfriend?
No, I don’t. That’s actually one of the first questions my coworkers usually ask—whether I’m married or have a boyfriend. 
Q: Have you ever been asked on a date here? 
Yes, I’ve been on a few dates since moving here. They’ve all been interesting and enjoyable. The men have been respectful and kind. 
Q: What do you think about Mongolian youth, especially Gen Z? 
I’m technically one of the oldest Gen Z members, so sometimes I relate more to millennials. Still, I’m very impressed by Mongolian Gen Z. Many of them are homeowners, pursuing professional certifications, reading extensively, and showing strong ambition. 
I admire how passionate they are about their country and its future. Even those who study or work abroad often return because they want to contribute to Mongolia’s development. That sense of responsibility and optimism is truly inspiring. 
Q: Is there anything you’d like to say through this interview? 
Many foreigners—even those who have lived here for decades—see immense potential in Mongolia and are genuinely excited about its future. I think sometimes Mongolians themselves could benefit from seeing their country through fresh eyes and appreciating its opportunities more deeply. 
Thank you for your time.

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”Chinggis Кhaan" international airport sets a new historic milestone www.gogo.mn

Chinggis Khaan International Airport welcomed its 2 millionth international passenger, surpassing the previous year’s total passenger volume and once again setting a new historic milestone.
Since commencing operations, passenger traffic at the airport has continued to grow steadily. In 2024, the airport achieved a historic milestone by handling a total of 2 million passengers for the first time in the history of Mongolia’s aviation sector.
In 2025, the number of international passengers alone has reached 2 million, already exceeding the total passenger volume recorded in the previous year.
Going forward, Chinggis Khaan International Airport will continue its commitment to providing safe, reliable, and high-quality services to all passengers, while consistently working to increase passenger traffic and further enhance its operations.
We would like to express our sincere appreciation to the domestic and international airlines, government authorities with special responsibilities, tourism organizations, the departments and units under the National Civil Aviation Center, as well as all partner organizations and teams who jointly contributed to this achievement."

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2 killed in northern Mongolia as truck falls into frozen lake www.xinhuanet.com

Two people were killed after their truck loaded with wood fell through ice on Khuvsgul Lake in northern Mongolia, the country's National Emergency Agency said on Monday.
The incident happened on Sunday in the lake in the northern Mongolian province of Khuvsgul. Local rescuers have retrieved the two bodies from the lake, the agency said, warning people from driving on any frozen lake as ice is now more likely to be thin.
In 2025, a total of 70 people, including 20 children, were killed in water-related accidents in the country, according to the agency.

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Capital Studies Major Renovation of Central Cultural Palace after 38 Years www.montsame.mn

The Capital city is conducting studies on structural reinforcement and a major renovation of the Central Cultural Palace. First Deputy Governor of the Capital City, Davaadalai Tumendalai, and relevant officials inspected the site.
The Central Cultural Palace spans 15,000 square meters and comprises four main blocks. The city is studying measures to renovate and reinforce the building, which is recognized as a cultural heritage site. Repairs to the heating network are also planned for this year.
First Deputy Governor Davaadalai T. said, “Since the Central Cultural Palace was commissioned, no major renovation or large-scale upgrade has been carried out. As a result, the B1 floor is prone to flooding, there is a risk of electrical accidents, and the engineering networks have fully deteriorated. Last year, repairs were made to the elevators, entrance areas, and parts of the electrical system to improve safety.”
Director of the Central Cultural Palace Ariuntuya L. noted that the building was constructed and gifted by the Russian Federation. “As no major renovation has been undertaken, a professional risk assessment found water seepage at the foundation level, significant heat loss, outdated power equipment, and an urgent need for major repairs to heating facilities. In 2025, the Palace invested more than MNT 550 million from its own resources. In addition, MNT 3.6 billion was invested from the capital city budget. Tenders were announced for six projects, and several repairs were completed. We are working with professional organizations to conduct assessments, develop plans, and preserve this historic building,” she said.
The Central Cultural Palace was commissioned in 1988.

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10 Universities in Japan, South Korea, Mongolia to Establish Academic Community to Promote ICC Activities, Rule of Law www.japannews.yomiuri.co.jp

Ten universities in Japan, South Korea and Mongolia will soon establish an academic community to support the International Criminal Court (ICC) and its activities in pursuing war crimes, The Yomiuri Shimbun has learned.
The planned community’s secretariat will be headquartered at Keio University in Tokyo, according to sources. It will support the ICC through information dissemination, advising on legislation of various countries and providing human resources, to increase Asian members of the ICC, which is based in The Hague.
Future plans include developing it into an official ICC office in the region.
The initiative will comprise five Japanese universities — Keio University, Doshisha University, Kyoto University, Hitotsubashi University and Utsunomiya University, in addition to four universities in South Korea, including Seoul National University and National University of Mongolia.
As the ICC’s first such framework, the initiative will start its activities in February and be formally organized in April. The European Union also plans to provide operational funding through the ICC.
Experts in international law and war crimes will lead efforts to encourage nonmember states to join the ICC. The community will also strengthen personnel exchanges with the ICC and cooperate in promoting the rule of law, a founding principle of the ICC.
Judge Tomoko Akane has been serving as the ICC’s president since March 2024. However, only 19 out of about 55 countries and regions in Asia and the Pacific are members. With few of its staff members being knowledgeable about Asia, the new initiative is also expected to alleviate personnel shortages.
The ICC is considering establishing regional offices in four locations worldwide. According to sources, the secretariat headquarters to be set up at Keio University could evolve into a regional office for Asia.
The ICC was established in 2002 to address the conflicts in the former Yugoslavia and the genocide in Rwanda. It prosecutes individuals for acts such as genocide and war crimes under international law. Member states are obligated to cooperate in arresting suspects and providing evidence. It currently has 125 members.

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Rio-Glencore deal closer than ever with premium and CEO in focus www.bloomberg.com

Glencore Plc boss Gary Nagle has called it the most obvious deal in mining. His predecessor and mentor Ivan Glasenberg has been trying to pull it off for nearly two decades. And yet the merger of Glencore with Rio Tinto Group has proven elusive – until now.
People familiar with the matter say that the current round of talks to create the world’s largest miner, which the two companies confirmed on Thursday night, are the most serious they have ever been, while emphasizing they are still at an early stage. At the heart of the shift is a concern within Rio that its iron ore-heavy portfolio could be left behind as copper M&A frenzy sweeps the sector, as well as a configuration of personalities on both sides who are better able to come to an agreement, the people said.
When the deal was last seriously discussed in late 2024, the talks foundered over Rio’s unwillingness to pay a big premium, as well as differences in the cultures fostered by Rio’s then-CEO and the Glencore leadership. At the time, Glencore pushed for Nagle to run the combined company.
Now Rio has a new boss and both sides appear more willing to compromise. Rio may ultimately consider paying a takeover premium, some of the people said, while other people suggested that the Glencore side is open to being pragmatic on the subject of management — recognizing that a larger firm paying a takeover premium would most likely seek to install its leadership in the new company. 
What’s more, a shift in investors’ attitudes toward coal mining means that Rio could buy Glencore outright with less fear of a backlash. Bloomberg earlier reported that Rio was open to retaining Glencore’s vast coal business.
Still, talks are at a very early stage and the people cautioned that the two sides are still some way from reaching a deal. Even if they can, any combination would be highly complex and require the approval of numerous regulators at a time of heightened government scrutiny of natural resources.
“It does feel like these two sides want a deal,” said George Cheveley, a portfolio manager at asset manager Ninety One, who owns Glencore shares. “Glencore have a lot of brownfield and greenfield copper projects and Rio don’t, but Rio have the expertise to build them and run them.”
Representatives for Rio and Glencore both declined to comment. 
In the 2024 talks, Glencore had asked for a merger ratio that would leave its shareholders with about 40% of the combined company, according to several of the people. If the same level remained a benchmark for Glencore’s negotiations, that would represent a premium of just over 25% relative to the two companies’ undisturbed share prices. 
Two people familiar with Rio thinking said it may be willing to consider paying a takeover premium, although other people cautioned it was too early in the process to assess. 
The idea of a combination of the two companies has been discussed several times over more than a decade. It was first floated before the global financial crisis of 2008, and then revived in 2014 – when Rio quickly rejected an informal approach from Glencore – before conversations resumed in earnest in 2024.
While those talks ended without a deal, the idea of combining the two companies never went away. Bloomberg reported last September that Glencore had continued to work behind the scenes with its bankers on the contours of a potential deal.
This time, it was Rio that re-initiated the most recent conversations, according to some of the people.
The miner had undergone a key change since the failed 2024 discussions: it had a new chief executive. Jakob Stausholm, a sober Dane with no background in the cut-and-thrust world of mining, had been asked by the board to step down, with his replacement announced as long-time Rio executive Simon Trott in July.
For Rio, the fundamental case for buying Glencore boils down to copper. While the miner is a significant player in markets from aluminum and copper to lithium, iron ore still accounted for more than half of its earnings in its most recent financial report.
The medium-term outlook for iron ore is downbeat, with China’s cooling property market sapping demand while Rio’s huge new project in Guinea is poised to flood the market with supply. Copper, meanwhile, has long been the most coveted metal for mining executives who see a bright future for the metal as the trend to electrification supercharges demand.
Rio has a relative dearth of copper development prospects as its vast Oyu Tolgoi mine in Mongolia reaches capacity. Glencore, on the other hand, spent an investor day last month highlighting its array of copper development options in Argentina, Peru and the Democratic Republic of Congo.
The merger deal struck by Anglo American Plc and Teck Resources Ltd. in September and the recent surge in copper prices to record highs above $13,000 a ton only heightened the pressure on Rio to act. 
The company’s executives recognized that its own relative reliance on iron ore, together with Glencore’s growth plans if it is able to achieve them, meant that waiting would likely only make the deal more expensive, according to some of the people.
There remain many complexities to navigate, even if the two companies are able to agree terms. Glencore’s coal business is still problematic for some large Rio shareholders because of sustainability concerns. And other parts of its business – from its trading unit, which in 2022 admitted to widespread historical corruption, to its assets in countries like Congo and Kazakhstan – could prove unattractive to some. 
The transaction structure is also likely to be complicated by Rio’s dual UK and Australian listings, while a successful deal would be scrutinized by antitrust regulators everywhere from China to Canada. 
Still, speaking to Bloomberg on Friday, large shareholders of both companies were tentatively supportive of a potential deal.
“We’re not pushing for a deal, but we’re open to any and all options that create and highlight value for Glencore shareholders,” said Justin Hance, a partner at Chicago-based Harris Associates LP, which is Glencore’s 11th-largest shareholder, according to Bloomberg data. “The attractiveness of any deal would depend not only on the shareholder ratio, but also on the structure, terms, and finer details of the transaction.”

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Mongolia's inflation down to 7.5 pct in December 2025 www.xinhuanet.com

Mongolia's inflation stood at 7.5 percent in December 2025, as measured by the consumer price index, down by 0.8 percentage points from a year earlier, data from the country's National Statistics Office showed Friday.
The agency attributed the decline to a significant increase in forex reserves and the stable exchange rate of the national currency, the Tugrik, the NSO said.
Mongolia's central bank targets an inflation rate within a range of 6 percent (+/- 2.0 percentage points) from 2027 to support macroeconomic and financial sector stability.
The landlocked Asian country's economy grew 5.9 percent year on year in the third quarter of 2025, according to the statistical agency.
Meanwhile, Moody's Ratings has predicted Mongolia's real GDP to expand 5.5 percent in 2025, and hover around similar rates in 2026.

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Mongolia Energy Faces MNT 412.3 Billion Tax Liability After Losing Mongolian Court Case www.tipranks.com

Mongolia Energy Corporation has disclosed that its Mongolian subsidiary MoEnCo has lost a legal challenge in the Mongolian Administrative Court over a tax reassessment imposed by the country’s Tax Dispute Resolution Council. The court ruled in favour of the tax authority, leaving MoEnCo liable for reassessed taxes totaling MNT 412.3 billion (about HK$902.6 million) for the 2017–2020 period, a sizeable potential liability that could weigh on the group’s financial position and cash flows. The company expects a written judgment within about two weeks and is seeking legal advice on filing an appeal within the permitted time frame, while cautioning shareholders and potential investors about trading its shares amid the unresolved tax dispute and associated uncertainties.
The most recent analyst rating on 0276) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Mongolia Energy stock, see the HK:0276 Stock Forecast page.
More about Mongolia Energy
Mongolia Energy Corporation Limited is a Hong Kong–listed resources company with operations in Mongolia, primarily conducted through its subsidiary MoEnCo. The group is engaged in the development and operation of mineral and energy assets, positioning itself within the regional commodities and energy sector and targeting both domestic and export markets through its Mongolian activities.
Average Trading Volume: 346,081
Technical Sentiment Signal: Sell
Current Market Cap: HK$127.9M

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Number of Foreign Nationals Residing for Official and Private Purposes Up 7.4% www.montsame.mn

As of December 31, 2025, a total of 34,272 foreign nationals from 136 countries are registered as residing in Mongolia for official and private purposes.
This represents a 7.4 percent increase compared to the same period of the previous year. By nationality, there are 1,124 citizens of the United States, 1,693 of the Republic of Korea, 2,278 of the Republic of India, 3,001 of the Russian Federation, 19,952 of the People’s Republic of China, and 6,224 citizens of other countries.
Under Article 27.4 of the Law of Mongolia on the Legal Status of Foreign Nationals, the number of foreign nationals residing in Mongolia for private purposes may not exceed three percent of the total population, with citizens of any single country limited to one percent. As of today, foreign nationals residing in Mongolia for private purposes account for 0.9 percent of the population. Of these, citizens of the People’s Republic of China represent the largest share at 0.56 percent, followed by those of the Russian Federation at 0.09 percent, the Republic of India at 0.06 percent, the Republic of Korea at 0.04 percent, and the United States at 0.03 percent.
Of the registered foreign residents, 560 reside for official purposes, 17,168 for employment, 5,213 for study, 5,329 for investment, 1,767 as immigrants, 134 for religious purposes, and 3,022 for family reasons. In addition, 1,079 foreign nationals reside in Mongolia for other purposes.

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