Events
Name | organizer | Where |
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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK | MBCCI | London UK Goodman LLC |
NEWS

Mongolia now has a roadmap for the sustainable development of the cashmere sector www.montsame.mn
By the initiative of the European Union funded “Sustainable Textile Production and Ecolabelling project (STePEcoLab)”, the “Roadmap for the Sustainable Development of the Mongolian Cashmere Sector - 2030” has been developed in collaboration with relevant ministries, agencies, professional associations and experts. As a result, the government policies and programs, international assistance, and consumer needs and demands have been harmoniously planned, and stakeholders have defined a common vision and a clear path to achieve it. The roadmap supports environmentally friendly production at all stages of value chain - starting from the preparation and supply of raw materials at herder level and promote sustainable consumption until the end of the line.
During the Roadmap launch event, J. Bat-Erdene, Member of Parliament and President of the Mongolian Wool and Cashmere Association (MWCA), emphasized “The wool and cashmere sector, with more than 10,000 employees and 400 million USD in sales, takes the second place after the mining sector by the contribution to the development of the country. The “Roadmap for the Sustainable Development of the Mongolian Cashmere Sector 2030” is the first “sustainable development” document in the light industry sector. The particular importance of this roadmap is the definition of the vision, mission and medium and short-term goals and objectives for the environmentally friendly and sustainable development of the Mongolian wool and cashmere industry until 2030. Representatives of international projects and programs, public and private sectors and professional associations were actively involved in the development of the roadmap, and the MWCA will undoubtedly play a role of a leader and initiator in the implementation of its’ activities in the sector.” in his speech.
H.E Ms Axelle Nicaise, Ambassador of the European Union to Mongolia: “Mongolian cashmere is a unique product and is important not only for the livelihood of herders, but also for the economy and value chain of the country. On the other hand, cashmere production has an impact on the environment. Therefore, we must focus on sustainable cashmere production, with quality over quantity to achieve more with less. If we do not take action now, natural resource will further degrade and pasture deterioration will worsen. The adoption of this ‘Roadmap for the Sustainable Development of the Mongolian Cashmere Sector 2030’ will be an important impetus for environmental protection. Mongolia is a beneficiary of the GSP+, the EU’s preferential trade scheme through which certain products can be exported to the EU-market tariff-free. The textile sector is currently the largest beneficiary of the trade scheme. We are currently in the process of negotiating Geographical Indications (GI) for a comprehensive list of products from Mongolia, among which cashmere is on the top of the list. ‘Uvs Chatsargana’ seabuckthorn berries from Uvs aimag, have been registered in the EU as the first Protected GI from Mongolia. PGI can bring the advantage of increasing the income of local producers, supporting sustainable business, preserving the uniqueness and quality due to the environment and climate, creating new opportunities, opening bigger markets and ensuring customers’ use of quality and standard products. The GI is a socially, environmentally and geographically important indicator. We hope that the beneficiaries of the project will continue to gain from our efforts going forward.”
Mr. G. Batsuuri, Deputy Minister of the MoFALI: “At a time when global consumers value “environmentally friendly and sustainable production-consumption” due to the global warming and climate change, one step towards making wool and cashmere sector of Mongolia a priority has been taken. Within the framework of the EU-funded “Sustainable Textile Production and Ecolabelling project (StePEcoLab)”, a “Roadmap for the Sustainable Development of the Mongolian Cashmere Sector 2030” has been developed. This roadmap identifies where, when, and how each stakeholder in the sector can contribute to better coordination of the Mongolian wool and cashmere industry by 2030. It is a key document for the activities in conformity with the government policies and strategies in the field of agriculture and animal husbandry, and cooperation between herders, producers, research and government organizations, professional associations and international projects and programs.”
Mrs. D. Altantsetseg, Executive Director, Mongolian Wool and Cashmere Association: “In recent years, consumers have tended to buy environmentally friendly and sustainable products. Therefore, we will be fully able to compete in the world market, if we set the main criteria that Mongolian cashmere is of the highest quality, environmentally friendly and sustainable. Mongolian cashmere products are exported to 30 countries around the world. As a result, sales of one trillion and 200 billion MNT were made.
Dr. Ts. Enkh-Amgalan, Chairwoman, National Federation of Pasture Users’ Groups: Climate change and consumer trends in any industry require a clear and intelligent production system that is environmentally friendly, healthy and safe for the human being, and has a traceability system. In this context, having a roadmap for the Sustainable Development of the Cashmere Sector means Mongolia has been renewing its strategy to bring its cashmere production to the world market. Previously, our country was known as a supplier of raw materials to the international market, but now we guarantee distinctive features of the final products.
Sustainable Textile Production and Ecolabelling project (STePEcoLab): The STeP EcoLab project, funded by the European Union and implemented by AVSF, aims at supporting the supply chain and the textile industry in adopting more sustainable sourcing and production practices and simultaneously improving the branding for sustainable products, optimising cost-saving measures and reaching out to climate finance and diversify the portfolio of customers. STeP EcoLab strives to leverage key drivers of sustainable consumption and production in Mongolia by consolidating sustainable and certified raw material sourcing options meeting markets expectations; developing a conducive environment for textile processing SMEs to switch to sustainable production practices; and raising customers’ and consumers’ awareness of Mongolian sustainable textile related initiatives.
P. Narandelger

UK set to have world's biggest automated drone superhighway www.bbc.com
The UK is set to become home to the world's largest automated drone superhighway within the next two years.
The drones will be used on the 164-mile Skyway project connecting towns and cities, including Cambridge and Rugby.
It is part of a £273m funding package for the aerospace sector which will be revealed by Business Secretary Kwasi Kwarteng on Monday.
Other projects include drones delivering mail to the Isles of Scilly and medication across Scotland.
Mr Kwarteng is to announce the news at the Farnborough International Airshow - the first to be held since 2019.
He will say the funding will "help the sector seize on the enormous opportunities for growth that exist as the world transitions to cleaner forms of flight".
Potential uses
Dave Pankhurst, director of drones at BT, told the BBC that Skyway is about scaling up trials that have been taking place around the UK.
BT is one of the partners involved in the collaboration.
"This drone capability has existed for quite some time, but is in its infancy in terms of being actually part of our society and being a usable application," he said.
"So for us, this is about taking a significant step towards that point. It's going to open up so many opportunities."
Skyway aims to connect the airspace above Reading, Oxford, Milton Keynes, Cambridge, Coventry and Rugby by mid-2024, and will receive more than £12m.
A total of £105.5m of the government's funding will be specifically for projects relating to "integrated aviation systems and new vehicle technologies", including unmanned aerial vehicles (UAVs) such as drones.
These projects include a plan to use drones to provide regular deliveries of mail and medicine to the Isles of Scilly, and to distribute medicines across Scotland, potentially enabling some cancer patients to be treated in their local community.
Apian drone
IMAGE SOURCE,APIAN
Image caption,
The NHS has trialled carrying chemotherapy drugs from Portsmouth to the Isle of Wight using drones
Chris Forster, chief operating officer of aviation technology company Altitude Angel, said there were a lot of potential uses for the superhighway.
"Whether it be a business doing logistics, all the way to the police and medical deliveries of vaccines and blood samples, there's a real demand to have access to this airspace," he said.
"We've done a few projects in Africa where the road infrastructure was not good for ground vehicles, and the delivery of vaccines was provided by automated drones."
Safety and acceptance
The technology utilises ground-based sensors installed along the highway which provide a real-time view of where drones are in the airspace.
This data is then analysed by a traffic management system - a sort of air traffic control for drones - which guides them along their routes and avoids collisions.
Steve Wright, associate professor in aerospace engineering at UWE Bristol, said the biggest concern regarding crashes does not come when the drone is in the air, but during take-off or landing.
"It's about the first and last bit of the flight," he said. "The problem is what happens when you're 10 feet away from people. That's the bit I spend my time worrying about.
"When it's up in the air I know it's stable and it's not going to hit something.
"People are looking at lowering packages down from the air - in other words you keep the drone well away from people. There's lots of very bright people out there working on flight plans that deliberately avoid built-up areas."
Royal Mail drone in an action on Shetland
IMAGE SOURCE,ROYAL MAIL
Image caption,
The Royal Mail has said it wants a fleet of 500 drones to carry mail to remote UK communities
Mr Pankhurst said the project was working alongside the Civil Aviation Authority (CAA) to ensure safety.
"The way they work as an organisation is very evidence-based," he said. "Safety is just paramount in this industry, but importantly, nothing happens without the regulator actually signing it off.
"The CAA is part of all of these future flight projects. It is part of all of these activities, validating the progress and making sure they're safe."
He said its research showed that people are more likely to accept a drone if they know it is providing an important service.
Simon Jude, senior lecturer at Cranfield University, said: "People's knowledge and attitudes might change if they know what that UAV is being used for. If it's an emergency medical support, you're probably going to be a lot more accepting of the noise.
"So what happens if you get multiple UAVs, or an agricultural use where you might get a number of drones collecting and saving data all at once?
"I live in a rural location, a very quiet location and it might annoy me more than if you were in a city or an urban landscape where there's lots of other noise."

End of coal ban would stabilize China relations, Australia says www.bloomberg.com
Any move by China to end a nearly two-year ban on Australian coal imports would be a key step in restoring ties between the nations, according to Australian Treasurer Jim Chalmers.
Chinese bureaucrats are proposing that senior leaders should authorize the resumption of purchases as tensions begin to ease, and on concerns global coal supply may tighten as Western-led sanctions on Russian energy exports kick in.
“An important part of stabilizing relations with China is to see some of those sanctions lifted on our exporters here in Australia,” Chalmers told Sky News television Sunday. “We would like to see it happen and we’d like to see it not stop there — it should extend to the restrictions that are placed on some of our other exports as well.”
A plan to end the ban will be handed to leaders who are in a position to authorize any change in policy, people familiar with the matter said last week. Australia has an opportunity to build “favorable conditions” for improvements in trade relations, Chinese Foreign Ministry spokesman Wang Wenbin told reporters Thursday in Beijing.
China — which was previously a major consumer of Australia’s coal — implemented an unofficial ban in late 2020 as hostilities between Canberra and Beijing escalated over issues including then-Prime Minister Scott Morrison’s call for an independent probe into the origins of the coronavirus.
Curbs were imposed by China on a string of Australian imports — from coal to wine to beef and lobster.
(Reporting by David Stringer).

How Ser-Od Bat-Ochir got his groove back www.olympics.com/
After disappointing himself at Tokyo 2020 in 2021, the five-time Olympian from Mongolia has found his mojo again, eyeing a historic sixth marathon at Paris 2024.
Ser-Od Bat-Ochir has loved running as long as he can remember - especially the marathon.
He loves the challenge over the last 12 kilometres, the battle within against sheer mental and physical exhaustion.
So you know when someone with that kind of temperament says he can't go anymore, he really can't go.
And that is exactly how Bat-Ochir felt during the Tokyo 2020 marathon in Sapporo.
"I went to train in Chitose (near Sapporo) but I caught a bad cold there," the Mongolian told Olympics.com ahead of the 2022 World Athletics Championships, looking back on a race he failed to finish.
"I had a fever which sapped my strength. I could not run the race I was hoping for at the Tokyo Olympics.
"For around two months or so after the Olympics, it was very difficult for me. It had already been decided that I was going to quit my team after the Olympics so those two months were the toughest.
"It was mental, emotional. I was fine physically."
Ser-Od Bat-Ochir of Mongolia leaves as the last finisher with his team-mate Byambajav Tseveenravdan after the Men's Marathon at the World Athletics Championships Doha 2019 in Doha, Qatar.
Ser-Od Bat-Ochir of Mongolia leaves as the last finisher with his team-mate Byambajav Tseveenravdan after the Men's Marathon at the World Athletics Championships Doha 2019 in Doha, Qatar.
The five-time Olympian hit rock bottom in the months following a Games that should have been a career highlight, a Games held in his adopted home and training base of Japan.
Bat-Ochir thought about calling it quits, even thinking of taking up an ordinary everyday job.
And he actually might have, had it not been for the consoling words of his friends and his wife, Oyuntuya, who also has been coaching him since 2005.
Plus of course, Bat-Ochir's love for running.
"They told me, the Tokyo Olympics is in the past and that it was time to move on. They told me I should set a new goal for myself, the next Olympics and the world championships - and I began to feel that way.
"I thought a lot about what I wanted and I wanted to run the marathon. I love the marathon so I felt that is what I should do.
"Then I began training for my next race".
Paris via Oregon
The World Athletics Championships Oregon22 will be Bat-Ochir's 10th appearance in the marathon at the Track and Field championships which, according to World Athletics, is a runaway record.
With a time difference of 16 hours between his home and Oregon, he has prepared for the meet not in Japan but in Boulder, Colorado, where the cool climate is similar to Mongolia.
Bat-Ochir - whose personal best is 2 hours, 8 minutes and 50 seconds - believes his best race is still ahead of him.
Let us remember that he turns 41 in October. His goal for Oregon is to finish higher than 19th, which he recorded at the 2011 worlds in Daegu, South Korea.
Bat-Ochir believes a marathon runner's peak years are in between the ages of 37 and 45 as double Olympic champion Eliud Kipchoge has proved, when speed and stamina gels perfectly.
By his own account, he has run around 74 marathons (he says 'around 74' because he admits he's not 100 per cent sure) since taking up the 42km race in 2002.
If he makes it to Paris 2024 - and it would be foolish to think he can't - Bat-Ochir will become the first athlete in history to run six Olympic marathons.
He hopes to make that the final race of his career. And clearly, he has found his second wind.
"I want to run at the Paris Olympics," Bat-Ochir says. "I want to run my final marathon at the Paris Olympics and after that I want to go into coaching - but still train for myself, too."

Mongolia reports 108 new coronavirus cases www.akipress.com
Mongolia reported 108 new coronavirus infections, the coronavirus statistics as of July 16 showed.
63 of them were revealed among persons who had contact with the infected in Ulaanbaatar, 45 other cases were detected in regions.
No new imported cases of COVID-19 were reported.
No new linked deaths were reported for a day, the death toll stands at 2,119 as of July 16.

Mongolia’s Naadam Festival Found On Banknotes www.banknoteworld.com
The Naadam Festival, which is known as the “three games of men”, is an annual event celebrated in Mongolia from July 11 to July 13, commemorating the Mongolian People’s Revolution in 1921. The national festival exhibits marksmanship, horsemanship, and strength through the three games of archery, horseracing, and wrestling.
These ancient medieval sports have been popular in the military as a way to test the soldiers’ strength and train them for battles as well as their horses’ ability and alertness. Later, the three sporting competitions have been present in religious gatherings such as weddings. The festival was listed on the UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity in 2010.
NAADAM ON MONGOLIAN BANKNOTES
Naadam Festival is the most anticipated and most watched festival of the Mongols. The three games of men are also on the 1993 issues of the mongo-denominated Mongolian banknotes. These notes are in a vertical orientation and do not have a security thread and watermark.
The obverse of the red 10-mongo paper bill displays two archers with bows and arrows. The same sport is also on the reverse of the note. The archery competition is played by teams of ten with each archer given four arrows and the team is given dozens of woven or wooden cylinder “surs” as targets.
Just like other most Mongolian banknotes, this 10-mongo note also features the national symbol of Mongolia, the Soyombo.
The tan-colored 20-mongo banknote, on the other hand, portrays two wrestlers on both the obverse and reverse sides. In Mongolian wrestling competitions, a wrestler loses to his opponent when any part of his body other than their feet or hands touched the ground.
Meanwhile, the horseracing sport is on the 50 mongo banknote. This banknote is predominantly blue and green and depicts two men riding on horses on both the front and back designs. The length of Mongolian horse racing events is usually 15-30 kilometers long, depending on the horse’s age class.

How Abe Shinzo Fortified Japan-Mongolia Relations www.thediplomat.com
This year marks the 50th anniversary of the establishment of Mongolia-Japan diplomatic relations. But in the middle of the landmark year, the political assassination of former Japanese Prime Minister Abe Shinzo was a significant shock to Mongolia, given the immense contribution of the Abe administration in bolstering Japan-Mongolia relations.
From its election win in late 2012 to Abe’s retirement in 2020, the Abe administration illustrated its commitment and continued efforts in bolstering Japan-Mongolia relations, which ultimately reached a peak in 2015 as the two countries became strategic partners.
From a Japanese foreign policy point of view, having Mongolia as a close partner helps Tokyo navigate regional issues such as dealing with North Korea. In addition, Mongolia’s democratic governance and society strengthened both government-to-government and people-to-people relations. During the Abe administration, the number of Mongolian students and workers in Japan increased immensely.
Moreover, Mongolia poses no direct threat to Japanese territorial integrity, making it somewhat of a rarity among Japan’s East Asian neighbors. Japan has ongoing territorial disputes with Russia (the Kuril Islands/Northern Territories), China (the Senkaku/Diaoyu Islands), and South Korea (the Dokdo/Takeshima Islands).
In Northeast Asia, the strong ties between Mongolia and Japan, both democratic nations, create a modus operandi for negotiations, dialogues, and conflict resolution. The Abe administration understood this strategic dynamic of Japan-Mongolia bilateral relations and enforced it in a mutually beneficial way.
Abe made his first state visit to Mongolia in 2013 on the occasion of the 40th anniversary of Japan-Mongolia diplomatic relations. Abe met with then-President Elbegdorj Tsakhia and Prime Minister Altankhuyag Norov. During an editorial written for Mongolian newspapers on the occasion of his visit, Abe stated that Japan-Mongolia relationship is supported by the “‘Three Spirits’ of freedom and democracy, peace, and mutual benefit.” On that basis, then-Foreign Minister Kishida Fumio – currently Japan’s prime minister – pledged in 2014 that “Mongolia and Japan will enhance mutual understanding and trust through multi-layered and strategic dialogue.”
Abe’s 2013 visit resulted in an economic agreement in which Japan supported Mongolia’s mining industry by establishing a credit line for purchasing mining machinery from Japanese companies such as Komatsu. In March 2013, Abe proposed the Erch Initiative to accelerate the Japan-Mongolia economic partnership. For Mongolia, Japan’s continued financial and technical support is fundamental in augmenting the country’s economic diversification.
During his second state visit to Ulaanbaatar in 2015, Abe emphasized his administration’s intention to make this visit a testament to the bond between the two countries and the development of their “strategic partnership.”
With visits in both 2013 and 2015, Abe became the first Japanese prime minister to visit Mongolia multiple times in a short period. Abe was also the first Japanese prime minister to meet three different presidents of Mongolia: Enkhbayar Nambar, Elbegdorj Tsakhia, and Battulga Khaltmaa. This showed both commitment and a genuine valuing of Japan-Mongolia diplomacy at the highest level of governments.
The Japan-Mongolia strategic partnership strengthened their economic relations and heightened security and military elements. The Abe administration, often criticized for encroaching on Japan’s postwar commitment to pacifism at home, viewed partnership with a non-threatening country like Mongolia as an advantage to Japan’s strategic behavior.
After Abe’s second state visit to Mongolia, the Japan Self-Defense Forces began participating in Mongolia’s Khaan Quest multilateral military training for the United Nations peacekeeping operations. Since 2012, the Japanese Ground Self-Defense Forces have been training the Mongolian Armed Forces in military medicine, particularly in mass-casualty response exercises.
In the eight years that Abe was in office, Japan aimed to accelerate its international presence and influence. The Abe administration accelerated Japan’s status on the international stage by pursuing membership in the United Nations Security Council. Mongolia has been supportive of Abe’s approach. The former prime minister of Mongolia, Saikhanbileg Chimed, expressed the Mongolian government’s support for Japan’s international presence.
The Abe administration understood both the historical relevance and the contemporary necessity to move the Japan-Mongolia relationship forward as two democratic nations in an ever-changing region. The Abe administration’s legacy in Japan-Mongolia relations will be that he made the strategic partnership a reality, strengthening both government-to-government and people-to-people relations.
Mongolian Prime Minister Oyun-Erdene Luvsannamsra and Foreign Minister Battsetseg Batmunkh visited the Japanese embassy in Ulaanbaatar to pay their respects to Abe and sign a book of condolences. “While emphasizing that the ‘Proactive Contribution to Peace’ foreign policy implemented by the late Prime Minister has made a valuable contribution to regional cooperation and prosperity, Prime Minister L.Oyun-Erdene underscored that his efforts to further strengthen Mongolia-Japan relations will always be remembered,” Mongolia’s Montsame news agency reported.
Former President Enkhbayar Nambar and former foreign minister of Mongolia Tsogtbaatar Damdin also paid visits to the embassy to sign the condolence book for Abe.
GUEST AUTHOR
Bolor Lkhaajav
Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.

Mongolia – Celebrating 30 years of Church's presence in the Country www.infoans.org
In a mission country like Mongolia - where there are about 1,300 Catholics, out of a population of more than 3 million people - remembering one's roots and joining forces with all those involved in evangelization are two fundamental attitudes to be able to continue sowing the Gospel message. That is why the Salesians present in Mongolia were pleased to celebrate the 30th anniversary of the Catholic Church’s presence in Mongolia with the rest of the country's small ecclesial reality.
It was in July 1992, after the fall of the communist regime, that the Church was able to return to the country: the first missionaries sent belonged to the Congregation of the Immaculate Heart of Mary and were Fathers Wenceslao Padilla, Gilbert Sales, and Robert Goessens.
That is why, on July 9, Archbishop Alfred Xuereb, Apostolic Nuncio to both South Korea and Mongolia, with his secretary and with the Apostolic Prefect of Ulan Bator and Cardinal-elect Giorgio Marengo, and together with all the missionaries of Mongolia - including the Salesians - and Fr. Gilbert Sales, who came especially from the Philippines, and some Mongolian friends, gathered at the tomb of Msgr. Wenceslao Padilla, who had been the head of the Mission "Sui Iuris," since 1992, and then the first Apostolic Prefect of Ulan Bator, until his death in 2018.
For the occasion, the Apostolic Nuncio blessed the new altar next to Msgr. Padilla's tomb and celebrated Mass. Then Msgr. Marengo shared some information about the Church's mission in the country and what is being accomplished and said that all together they were building the dream of the late Msgr. Padilla, "who today will be happy to see us from Heaven gathered around him, humbly loving and serving our beloved Mongolia."
The main celebration took place the following day, Sunday, July 10: early in the morning many parishioners arrived at the cathedral from many places, the most distant from more than 400 km away, some bringing food and drinks for the feast day, while others started cooking in the area. By 10:00 a.m., many priests were invited to hear confessions for the many attendees as the cathedral filled with people: guests, visitors, many leaders of different religions.
During the solemn Eucharist, the Nuncio expressed a message of gratitude: to God, the pioneers, and missionaries who still live and work for the mission of the Mongolian Church! But his words of gratitude were also extended to the local government, the people, the faithful, and all the friends inside and outside the country who accompany in various ways, factually or with prayers, this mission.
"The mission started 30 years ago: it seems a long time, but for God, it will seem to be yesterday... and the mission still goes on with many challenges and changes, but all in hope, faith, with sacrifice and witness!" commented Fr. Andrew Tin Nguyen, a Salesian of Don Bosco originally from Vietnam and active in Darkhan.
The Salesian presence in Mongolia is under the care of the "St. John Bosco" Province of Vietnam (VIE) and was started in 2001, with a technical school and oratory opened in the capital, Ulan Bator. In 2004, a parish with oratory was started in Darkhan, in the north-central region of the country; finally, since 2016, they have also taken over the pastoral care of the mission in Shuwuu, not far from the capital.

Cost of expansion at Rio Tinto’s Oyu Tolgoi rises again www.mining.com
Rio Tinto (ASX, LON, NYSE: RIO) flagged on Friday a cost increase of $300 million for the ongoing expansion of its massive Oyu Tolgoi copper-gold mine in Mongolia.
The world’s second largest miner said the cost and schedule reforecast, completed in June, now pegs the total project cost estimate at $7.06 billion, almost $1.8 billion higher than its original estimate in 2015.
The company blamed the rise on skilled labour supply constraints caused by covid-19 and noted the new estimate, under review by Oyu Tolgoi’s board, assumes there are no further disruptions.
Rio Tinto currently controls and operates the mine, located 550 km (342 miles) south of Mongolia’s capital Ulaanbaatar, through its 66% stake in Canada’s Turquoise Hill Resources (TSX, NYSE: TRQ). The government of Mongolia owns 34%.
The mining giant is currently trying to buy all the shares it doesn’t already own in Turquoise Hill.
Rio’s chief executive Jakob Stausholm has said he believes the acquisition would simplify the ownership structure, and further strengthen the company’s copper portfolio.
The offer followed an agreement between the miner and the government of Mongolia to complete the long-delayed underground expansion.
That deal saw Rio agree to write off $2.4 billion in loans and interest used by Ulan Bator to fund its share of the development costs.
There was no update on the proposed C$34.00 per share buyout.
Turquoise Hill said in a separate statement it expected its portion of total operating cash costs at Oyu Tolgoi to increase by $50 million for this year. It means they are now expected to be in the range of between $850 million and $925 million, higher than previous guidance of $800 million to $875 million.
This was due to higher royalties and price inflation for key raw materials, especially fuel and the lower deferred stripping, the firm said.
Three-year delay and counting
The ongoing expansion of Oyu Tolgoi has been plagued by delays and costs overruns, which have triggered the Mongolian government’s ire to the point of threatening to revoke the 2009 investment agreement, which underpins the mine development.
First production, initially expected in late 2020, was rescheduled for October 2022 and later to the first half of 2023.
Rio Tinto said on Friday that technical progress has been hindered, with shafts 3 and 4 now expected to be commissioned in the first half of 2024, 15 months later than what the company estimated in 2020.
Oyu Tolgoi is Rio’s main copper growth project. Once completed, the underground section will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes at peak output, which is now expected by 2025 at the earliest.
According to the miner, this would make it the biggest new copper mine to come on stream in several years and, by 2030, the operation would be the world’s fourth largest copper mine.

Prime Minister receives CEO of Rio Tinto Group www.montsame.mn
Prime Minister of Mongolia L.Oyun-Erdene received Chief Executive Officer of Rio Tinto Group Jakob Stausholm.
During the meeting, the sides exchanged views on the implementation of the parliamentary resolution on measures to be taken to ensure the benefits to Mongolia from Oyu Tolgoi deposits, and the progress of the Government’s negotiations with the Rio Tinto Group.
The sides mutually agreed to put the construction of the underground mine into full operation by the first quarter of 2023. Thus, in January 2022, the Prime Minister of Mongolia L.Oyun-Erdene and CEO of Rio Tinto Jakob Stausholm together pressed a button to commence the first blast to start the initial stage of Oyu Tolgoi's underground mine development.
In this context, Rio Tinto CEO Jakob Stausholm emphasized that the works are underway to intensify the construction of the underground mine and put it into operation ahead of schedule and the talks are continuing successfully.
The meeting also touched on the development projects that are being implemented by Rio Tinto Group in Khanbogd and Tsogttsetsii soums of Umnugobi aimag.
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