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

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Events

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

NEWS

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Rio Tinto secures lithium project in Argentina www.mining.com

Rio Tinto (ASX, LON, NYSE: RIO) has completed the acquisition of the Rincon lithium project in Argentina for $825 million, following Australia’s Foreign Investment Review Board (FIRB) approval of the transaction.
The world’s second-largest miner saw its lithium ambitions partially crushed in January after Serbia revoked Rio Tinto’s licence for the $2.4 billion Jadar project over environmental protests.
The Argentinean asset could help the company reignite its plans and strengthen its portfolio for the global energy transition.
Rincon is a large undeveloped lithium brine project located in the heart of the lithium triangle in Argentina’s Salta Province, an emerging hub for greenfield projects.
The company said the asset, a long-life, scaleable resource, had the potential to have one of the lowest carbon footprints in the industry.
“Rincon strengthens our battery materials business and positions Rio Tinto to meet the double-digit growth in demand for lithium over the next decade, at a time when supply is constrained,” chief executive Jakob Stausholm said in the statement.
A July 2021 resource estimate of Rincon lists measured and indicated resources of lithium carbonate equivalent at 5.8 million tonnes, as well as inferred resources at just under 6 million tonnes.
The project has reserves of almost 2 million tonnes of contained lithium carbonate equivalent, sufficient for a 40-year mine life.
Rincon will use a direct, low-cost extraction technology that has the “potential to significantly increase lithium recoveries” compared to solar evaporation ponds, Rio said, adding that a pilot plant was currently running at the site.
The company also said that market fundamentals for battery grade lithium carbonate were strong, with lithium demand forecasted to grow 25-35% a year over the next decade. EV sales are on track to hit up to 55% of the world’s total light vehicles sales as early as 2030, reaching about 65 million units.
This means, Rio has said, that manufacturers would need about three million tonnes of lithium per year, compared with the roughly 350,000 tonnes they consume today.
Rio Tinto estimates that committed lithium supply and capacity expansions will contribute only about 15% to demand growth over the 2020-2050 period. The remaining 85% would need to come from new projects.
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Kinross in negotiations to sell Russian mines www.mining.com

Canada’s Kinross Gold Corp (TSX: K; NYSE: KGC) has entered exclusive negotiations with an unnamed third-party mining company after receiving several proposals to sell all its Russian assets.
As part of the exclusivity agreement, Kinross’ Russian subsidiaries will continue to operate the Kupol mine and other assets to maintain them properly.
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Kinross noted in a media release Tuesday afternoon that any potential divestiture or change of control would have to receive Russian government approval.
Kinross will also continue to manage and mitigate the environmental impacts of its Russian operations. This includes overseeing monitoring systems and transporting industrial materials to the Kupol mine that are not allowed to remain at the port to maintain safety and regulatory compliance.
Kinross said it would continue to prioritize the well-being of its more than 2,000 employees in the country as it developed its transition plan.
Kinross will not benefit financially from the Russian operations while the transition plan is finalized. According to Kinross, current activities will be funded through resources already in-country, with no additional investment required by the parent company.
Kinross said it would suspend its Russian operations this month, including the Udinsk development project and Kupol mine. Kinross expects to treat its Russian business as an asset held for sale from an accounting perspective until a change of control is completed.
Several companies with exposure to Russia are taking steps to comply with sweeping Western sanctions against Moscow over its invasion of Ukraine.
Anglo-Australian miner Rio Tinto (LSE: RIO) also said it is cutting ties with Russian businesses, while miner Glencore (LSE: GLEN) sold its stake in Russia’s Russneft in February.
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Mongolia’s import from India reaches USD 30 million www.montsame.mn

Mongolia-India cooperation meeting themed ‘Expanding 3T Horizons for India and Mongolia – Trade-Technology-Tourism’ was held at the Mongolian National Chamber of Commerce and Industry (MNCCI) on March 25, 2022
The meeting was attended by Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M.P. Singh, former Ambassador Extraordinary and Plenipotentiary of Mongolia to the Republic of India G.Ganbold, other relevant officials, and business representatives.
In his opening remarks delivered at the meeting, MNCCI President O.Amartuvshin emphasized the great potential that the two countries have for trade and economic cooperation in the fields of oil, tourism, pharmaceuticals, and information technology.
Mongolia imports a variety of medicine, pharmaceuticals, animal vaccines, tea, sugar, telecommunications equipment, and trucks from India. The import reached USD 30 million last year. On the other hand, Mongolia mainly exports minerals such as coking coal, fluorspar, copper concentrate, iron ore, and uranium, which totaled about USD 200 thousand in 2021.
The meeting focused on bilateral relations, non-mining cooperation, traditional medicine trade, and tourism and hospitality services. The sub-meeting on tourism touched upon the health and religious tourism between the two countries, while the education meeting focused on education opportunities in India, the Indian Technical and Economic Cooperation (ITEC), and the Council for Cultural Relations (ICCR) scholarship program.
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Digitalization process for customs organization is currently at 80-90 percent www.montsame.mn

Ahead of the Mongolian Economic Forum 2022, discussions are taking place on six main topics for the ‘New Revival Policy’ being implemented by the Government of Mongolia.
Deputy Minister of Finance of Mongolia S. Mungunchimeg was interviewed during the discussion ‘Revival of Border Ports’ organized on March 28.
-The Ministry of Finance has announced that it would submit the bill on Public-Private Partnerships to the Parliament. What other laws related to business and economy will be revised?
-According to the preliminary estimation, MNT100-120 trillion will be required to implement development projects as part of the ‘New Revival Policy’. Such a large investment in the projects will be made by the international donors and foreign and domestic investors based on the partnerships of private sector. Thus, the Ministry is now ready to submit the bill on public-private partnership as well as the revised bill on tenders to the Parliament.
-Customs reforms have started in our country 2-3 years ago through the projects being implemented by the World Bank and other international organizations. What is the progress of the reform as of today?
Currently, the digitalization process for customs organization runs at 80-90 percent. The operations of the border professional inspection and customs have been united in order to harmonize operations of four organizations, eliminate the duplication of functions and facilitate trade.
-As for border port development, what works have been made so far?
Construction works are being carried out at border checkpoints of our country through the soft loan and non-refundable aid from China. Due to the COVID-19 pandemic, the progress of the works has slowed down, thus the construction work at Zamyn-Uud border checkpoint is currently at 60-70 percent. As for other border checkpoints bordering Russia, the construction works are being made with the ADB’s soft loan. Furthermore, construction works will begin to establish two or three new ports, including Khangi, to create an export gateway. It will become possible to recover tourism industry once the pandemic situation eases.
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Fund established to support ‘One Billion Trees’ initiative www.montsame.mn

A fund was established today to support the ‘One Billion Tree’ national movement, initiated by the President of Mongolia.
The establishment of the fund is significant to open up opportunities to create a structure and system to provide sustainable financing for afforestation, tree planting, and other environmental activities. It was informed that the member organizations of the Mongolian Bankers Association (MBA) will contribute at least MNT 2 billion annually. In addition, green loans in the banking sector will be increased to 10 percent by 2030, and MNT 5.2 trillion will be disbursed.
The fund will be raised by donations from banks, non-bank financial and business organizations, and individuals, and its Board will discuss and approve projects and programs to support. The Board consists of the MBA, Association of Non-Bank Financial Institutions, representatives of other donors, and independent members.
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Bangladesh vs Mongolia match ends in goalless draw www.businessinsiderbd.com

The friendly match between Bangladesh and Mongolia ended in a goalless draw on Tuesday at Sylhet District Stadium in Sylhet.
Bangladesh dominated the match but they missed some real opportunities. In the 41st minute, Suman Reza’s shot hit the post. Otherwise the hosts left the field with a victory.
In the first half, Reza got a chance from the six yard box but couldn’t convert that into a goal.
In the 61st minute of the match, defender Yeasin Arafat fired a shot from distance, but that was straight to the Mongolian keeper.
Later, Bangladesh got so many chances but their lack of finishing was visible. The booters’ badly in need of a perfect number nine.
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Mongolia reports 87 new COVID-19 cases www.xinhuanet.com

March 29 (Xinhua) -- Mongolia's healthy ministry reported 87 new COVID-19 infections on Tuesday, taking the national tally to 469,197.
No new related deaths were recorded in the past day, leaving the death toll unchanged at 2,108.
Currently, there are 1,271 active cases across the country.
Nearly 67 percent of Mongolia's population of 3.4 million has received two COVID-19 vaccine doses, 1,031,968 people have received a third dose and 114,380 have received a voluntary fourth shot.
With high vaccination coverage and declining daily infections, life in Mongolia has essentially returned to normal. The country has resumed in-person classes for all educational institutions and fully opened its borders to foreign tourists.
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Revival of Urban and Rural Areas: ‘New ring road’ to be established www.montsame.mn

During the discussion on ‘Revival of Urban and Rural Areas’ held ahead of the Mongolian Economic Forum 2022, Governor of the Capital City and the Mayor of Ulaanbaatar D. Sumiyabazar announced that a total of 26 measures in nine types of operations are planned to be implemented in Ulaanbaatar city.
These include as follows:
With the expansion and renovation works of main road network, the traffic congestion index will be reduced by 15-20 percent and road capacity will be increased by 35 percent.
With the introduction of the unified smart system for traffic management and control, it will become possible to create a real-time information system of the traffic situation.
The introduction of a new type of high-capacity public transport will increase the number of passengers by 30 percent compared to 2020 and reduce traffic movement by 50,000-60,000 vehicles.
Legal framework for tax incentives will be improved for entities that have taken measures to reduce congestion.
In its framework, ‘New ring road’ connecting city’s sub-centers will be established. Construction of a 71.5 km long ring road with 11 multi-level intersections will reduce traffic congestion by 15-20 percent.
For decentralization of the capital city, the construction work of sub-centers will be intensified alongside building basic infrastructure. Within this frame, it plans to complete the construction work of sub-centers being implemented with foreign loan and grant and establish four new sub-center and seven public centers.
Moreover, it plans to accelerate construction works of new residential areas, free economic zones and satellite cities. Governor D. Sumiyabazar emphasized that the comprehensive plan is being developed to solve the problems faced by not only Ulaanbaatar city but also rural areas within the framework of the ‘Revival of Urban and Rural Areas’ policy.
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Teen boy admits killing Mongolian woman in Dublin last year www.independent.ie

A teenage boy has today admitted killing Mongolian woman Urantsetseg Tserendorj in Dublin city centre last year.
The boy – who is now 16-years-old and cannot be named because he is a minor – pleaded not guilty at the Central Criminal Court to the murder of Ms Tserendorj but guilty to her manslaughter on January 29, 2021.
At the court on Dublin's Parkgate Street this afternoon, he also pleaded guilty to producing a knife and to attempting to rob Ms Tserendorj on a walkway between George’s Dock and Custom House Quay in the IFSC, Dublin on January 20, 2021.
The plea of manslaughter was not accepted by the State however, and the boy will stand trial for Ms Teserendorj’s murder later this week.
A jury of seven women and five men has been selected to hear the case, which has been scheduled to begin on Wednesday before Ms Justice Mary Ellen Ring.
It is expected that the trial will last eight days.
Ms Tserendorj was originally from Mongolia but had been living in Ireland for several years and worked as a cleaner.
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Implementation of government action plan assessed at 74.5 percent www.montsame.mn

At its meeting on March 28, the Parliamentary Standing Committee on Industrial Policy held a discussion on the implementation of the general guidelines for the country’s development in 2021-2025, and the implementation of the Government Action Plan for 2020-2024.
The plan to implement the Government Action Plan for 2020-2024 was approved by the resolution No.203 dated December 09, 2020. During the meeting of the Standing Committee, Minister of Finance B.Javkhlan informed that the implementation of the action plan was assessed to be at 74.5 percent as of 2021.
In terms of policy, its implementation in dealing with socio-economic issues caused by the COVID-19 pandemic is currently at 88 percent, and human development policy is at 78.5 percent, while economic policy is at 70.9 percent, governance policy is at 76.6 percent, green development policy is at 65 percent, capital city and region, local development policy is at 79 percent, respectively.
Within the framework of nine goals and 47 objectives set out in the five-year general guidelines for the development of Mongolia in 2021-2025, a total of 243 works are planned to be carried out. In 2021, the progress of these works was at 79.3 percent on average in accordance with the procedure approved through Government resolution No.206 in 2020.
During the meeting, Minister of Finance B.Javkhlan also presented the major goals and measures being effectively implemented within the framework of the Government Action Plan and five-year general guidelines for the development of Mongolia in 2021-2025. In particular, the government paid a certain amount of utility bills (electricity, heating, and water bills) of households to provide support the people’s livelihood amid the pandemic. Moreover, monthly child allowance was raised to MNT 100 thousand, while a one-time cash grant of MNT 300 thousand was given to each citizen and MNT 50,000 was given to vaccinated citizens.
Since the rollout of COVID-19 vaccinations, 69.8 percent of the citizens in the capital city have received the first dose of the vaccine, while 66.8 percent have been fully vaccinated and 31.6 percent have received their third jabs. In addition, 3.4 percent of the country’s total population have received the fourth vaccine dose. A total of 36,330 Mongolian citizens have returned to their home country since repatriation works were launched.
A total of MNT 1.9 billion were given out as loans in order to support employment as part of the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic Recovery’. Additionally, MNT 789.8 billion has been provided under repo financing loans, alongside MNT 925 billion in mortgage loans, and MNT 384.2 billion to support agriculture and herders.
In the past year, 40 kindergartens, 32 schools, 5 school gyms and 12 dormitories were commissioned. In addition, the capacity of the Fourth Thermal Power Plant was increased by 46 MW. Oyu Tolgoi’s underground mining operations have also commenced on January 22, 2022.
With the integration of 562 public services into the E-Mongolia system, significant progress has been made in delivering public services without bureaucracy, making them more accessible, transparent and easy.
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