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

NEWS

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Crypto-friendly govt incurs first crypto losses www.rt.com

The Central American country was world’s first to adopt Bitcoin as legal tender
The recent slide of the largest crypto, Bitcoin, has not only affected retail and institutional investors but one tiny nation as well – El Salvador – which had embraced the digital asset as a way to boost its impoverished economy.
The country has bought at least 1,391 bitcoins using public funds, according to a Bloomberg report, which estimated the holdings based on the tweets of El Salvador’s Bitcoin-loving president Nayib Bukele. The media calculated that the purchase would have cost El Salvador about $71 million based on an average acquisition price of $51,056 per coin. Assuming the government has held the digital coins, they’re now worth around $61 million, a 14% loss.
Bitcoin’s price has fallen about 40% since reaching its all-time high in November. Last week, the crypto briefly plummeted below $40,000 to its lowest since September, with declines spilling over into the whole cryptocurrency market. On Thursday, Bitcoin was trading at $43,765 per token.
El Salvador’s congress approved the adoption of Bitcoin as legal tender in June 2021. Later in September, President Bukele announced that his government had purchased its first 400 bitcoin. The nation plans to use multiple renewable-energy sources to power its crypto-mining sites.
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Mongolia's daily COVID-19 count exceeds 2,000 www.xinhuanet.com

Jan. 13 (Xinhua) -- Mongolia recorded 2,279 new COVID-19 cases over the past 24 hours, bring the national count to 401,761, the country's health ministry said on Thursday.
Meanwhile, the viral disease has so far claimed 2,006 lives after three new deaths were reported.
The Asian country confirmed its first imported and local cases of the Omicron variant last week, which indicates the beginning of the fourth wave of pandemic, health authorities said, urging the public to follow all relevant health guidelines.
So far, 66.6 percent of the country's population has received two COVID-19 vaccine doses, while more than 952,901 people aged over 18 have received a third dose.
More than 10,000 Mongolians have taken a fourth dose voluntarily since Friday.
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Today marks 30th anniversary of the adoption of democratic Constitution of Mongolia www.montsame.mn

Today marks the 30th anniversary of the adoption of the democratic Constitution of Mongolia.
Mongolia has had four constitutions in its history with each of its discussions held in 1924, 1940, 1960, and 1992 respectively. While the earlier constitutions were revolved around the Marxist ideology, the new 1992 Constitution is considered democratic as it protects the common interest of the citizens of Mongolia without discrimination of social class and ideology. Thus, the day of January 13 came to be marked as Constitution Day each year.
For the new democratic Constitution of Mongolia, discussion took place among over 430 deputies of the People’s Great Khural, and over 50 members of the State Baga Khural over the course of 75 days. A public discussion was also held for the new Constitution, which involved about 75 percent of 1.2 million citizens, the total population of Mongolia at the time, and over 200 thousand suggestions were received on the matter.
The new Constitution of Mongolia established the legal framework for a balanced system for state power, setting the base procedure, rights, and obligations of the State Great Khural (parliament), the institution of the State Head - the President of Mongolia, the Government of Mongolia, and the judiciary.
At the time, as the main contributor to drafting the democratic Constitution, State Honored Lawyer B.Chimed had highlighted that further amendments will be necessary in the future with changes in society. This indeed happened to be the case, which resulted in making amendments to seven articles in the year of 2000. Afterwards, working groups in charge of making further amendments to the Constitution were established seven times throughout the years of 2008-2019 - yet, the bills were not discussed by the parliament.
However, most recently, 62 parliament members presented a bill to amend the Constitution of Mongolia on June 6, 2019. Following the discussions that took place at the parliament’s plenary sessions as well as at meetings of Standing Committees for a total of 105.9 hours, the finalized bill was approved on November 14, 2019. The amendments covered 19 sections and 36 clauses of 70 articles, which made up 28.5 percent of the Constitution. These changes ensured the balance and monitoring of governance, improved the stability of the Government and the responsibility of the Parliament, and were aimed at enhancing independent decision-making at local governing bodies.
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Talon Energy lodges environmental impact assessment for Mongolian CGS project www.ogj.com

Talon Energy Ltd., Perth, has lodged an environmental impact assessment (EIA) study for its proposed Gurvantes XXXV coal seam gas project in the Gobe basin of southern Mongolia with the Mongolian Government.
Talon said that its partner, Mongolian-based Telmen Resources, completed the EIA following a public consultation program in nearby communities conducted during November and December 2021.
Feedback from the process has been positive, the company said.
Talon expects approval for the project from the Mongolian Ministry of Nature, Environment and Tourism late this month or early February. Once approved, field work, including a multi-well drilling program, will begin in this year’s first quarter.
Talon hopes to provide a gas resource estimate before mid-2022.
The Gurvantes XXXV project covers 8,400 sq km in what the company believes is one of the most prospective coal seam gas basins in the world.
The project is less than 20 km from the Mongolia-China border and about 300 km from an existing gas pipeline network in northern China.
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Wheat supply incentive to be MNT 80 thousand per ton www.montsame.mn

To support wheat production, the Cabinet has defined the incentive amount to individuals and companies supplying wheat that meet standard requirements to local flour mills, the Agriculture Support Fund and state fund, to be  MNT 80 thousand per ton. 

According to crop harvest reports, 605.6 thousand tons of grains including 567 tons of wheat, 181.5 thousand tons of potatoes, 118.6 thousand tons of vegetables, 306.5 tons of fodder, and 53.6 thousand tons of oil plants were harvested.

306 thousand tons of the wheat harvest was supplied to factories (245 thousand tons) and the Agriculture Support Fund (61 thousand tons) and 90 thousand tons of wheat is being sold. It is possible to meet the country’s flour demand for 2022 with local wheat.

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Cabinet meeting in brief www.montsame.mn

At its regular meeting on January 6, the Cabinet made the following decisions:
With the permission of the General Commander of the Armed Forces of Mongolia, the construction and engineering unit of the Armed Forces will take part in Zuunbayan-Khangi railroad construction.
The Cabinet discussed and approved the draft law on amendments to the law on military social welfare and decided to submit it to the State Great Khural.
The Cabinet updated regulations on activities of the Professional Hunting Organization and regulations on hunting and catching of rare animals. The legal framework will make it possible to use the renewable natural resources sustainably in the long term.
The Cabinet discussed the draft agreement between Mongolia and Asian Development Bank on the financing of Small Expenditure Financing Facility and decided to consult with the relevant parliamentary standing committee.
The seventh meeting of Mongolia-Hungary intergovernmental commission for trade, economic, scientific and technical cooperation will be held virtually on January 18-19.
The Cabinet updated the statute of the National Tripartite Committee on Labour and Social Consensus.
The Cabinet discussed outcomes of the Mongolian President’s December 15-17, 2021 official visit to the Russian Federation and instructed the Minister of Foreign Affairs to submit them to the National Security Council.
The Memorandum of Understanding on cooperation in military history, archives, museums and publication between the governments of Mongolia and the Republic of Turkey signed on October 15, 2021 was approved.
The Cabinet made changes to the structure of Nuclear Energy Commission, which will be headed by the Minister of Education and Science.
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Altan Tsagaan Ovoo (ATO) Gold and Silver Project, Dornod, Mongolia www.mining-technology.com

The Altan Tsagaan Ovoo (ATO) gold and silver project has total mineral reserves of 26.4 million tonnes (Mt) at the ATO and Mungu deposits.
The Altan Tsagaan Ovoo (ATO) gold and silver project is an operational open-pit mine located in the province of Dornod, Mongolia. It is owned by Steppe Gold, a precious metals exploration company.
The project is being developed in a phased manner, with the first phase having achieved commercial production in April 2020. The second phase involves the development of the ATO and Mungu deposits.
Phase one operations involve open-pit mining and heap leach operation to produce gold dore bars up to 2023 while phase two will start production of lead, zinc, and pyrite concentrates in the fourth quarter (Q4) of 2023 and continue until the second quarter (Q2) of 2034.
A feasibility study was completed in October 2021 for phase two of mining and extension of the life of the producing oxide phase by two years. The feasibility study indicated a life of mine (LOM) of 10.5 years for phase two.
Altan Tsagaan Ovoo gold and silver project location and geology
The ATO property is located within the Tsagaan Ovoo soum territory in Dornod, Eastern Mongolia. It lies approximately 660km east of the capital city of Ulaanbaatar and 38km west of Tsagaan Ovoo soum. The project is situated in the mining licence MV-017111, which covers an area of 5,492.63ha.
The property lies within the Mongol-Okhotsk tectonic collage of the Devonian to Late Jurassic age. The tectonic collage is emplaced along the North Asian Craton (NAC). The local geology features metamorphosed Devonian age sedimentary rocks overlain by a sequence of Permian era volcanic and sedimentary rocks. The sequence also includes remnant scraps of Jurassic age volcanoclastic units, intruded by Jurassic plutons.
Mineral reserves of the ATO and Mungu deposits
The proven and probable mineral reserves at the ATO and Mungu deposits were estimated at 26.4 million tonnes (Mt) grading 1.14g/t gold, 11.18g/t silver, 0.46% lead and 0.78% zinc, as of June 2021.
Mining at ATO gold and silver project
The ATO mine is operated as a conventional open-pit mine with drilling, blasting, and truck and shovel operations. The mining fleet includes rigid body mining trucks, hydraulic excavators, and wheel loaders.
The project has two mining areas, namely the ATO and Mungu deposits. The Mungu pit will be explored and mined under phase two. Open at depth, the pit can be mined economically using open-pit methods only for a small portion. The feasibility study suggests the implementation of underground operations to extract ore from the remaining areas of the Mungu pit, upon exhausting the open-pit reserves. The underground potential of the pit needs to be proved through further studies, though.
Processing in phase one of the ATO mine
The ATO processing facility in phase one has a capacity of leaching 1.2 million tonnes per annum (Mtpa) of oxide ore at an average grade of 1.13g/t gold at a recovery rate of 70% and an average grade of 9.25g/t silver at 40% recovery.
The run-of-mine (ROM) ore undergoes three-stage crushing in a primary jaw crusher, secondary cone crusher, and an optional tertiary cone crusher operating in a closed circuit with a final product screen.
The crushed ore is transferred to the heap leach facility to produce a pregnant leach solution (PLS), which is introduced into the carbon adsorption circuit. The loaded carbon from the adsorption circuit is acid washed to remove calcium, sodium salts, magnesium, silica, and fine iron particles. A modified ZADRA elution process is used to remove the adsorbed gold from the loaded carbon.
The pregnant solution flows through one of two electrowinning cells with gold-plated knitted-mesh steel wool cathodes. The loaded cathodes are power washed to remove the gold bearing, which is filtered to eliminate excess moisture and retorted to remove any mercury. Fluxes are introduced and mixed with the retort residue at this stage. The residue is then smelted in an induction furnace to produce gold dore.
Phase two processing details
Phase two is intended to increase gold production while also producing saleable zinc, lead and pyrite concentrates.
A crushing circuit with a capacity of 2.2Mtpa will be installed. The ROM ore will undergo three-stage crushing to reduce the material from an F100 of 800mm to a P80 of 10mm.
The grinding circuit will include a primary ball mill arranged in a closed circuit with a classification screen in the first stage. The second stage of the grinding circuit will include a secondary ball mill in a closed circuit with hydrocyclones.
The flotation process will involve separate circuits for lead, zinc and pyrite concentrates. The concentrate products from each of the circuits will undergo compressed air filtration to produce a dewatered dry filter cake, which will be stockpiled.
Infrastructure
The ATO gold and silver property can be accessed from Ulaanbaatar by highway to Choibalsan, the capital of the Dornod Province, and then by an improved unpaved road to Tsagaan Ovoo soum.
A mining camp at the project site can accommodate 300 personnel.
The 2.4MW power supply required for the phase one mining and processing operations is supplied using CAT 3512B diesel power generators having a maximum power generation capacity of 3.6MW. A hybrid solution diesel-renewable power plant is also proposed to be constructed.
Financing for ATO mine
Steppe Gold secured a loan worth $59.7m through the Gold-2 National Program of the Government of Mongolia in November 2021. The loan was facilitated through the Central Bank of Mongolia.
An agreement was also made for a $5m working capital loan from the Trade and Development Bank of Mongolia (TDBM).
Both the loans will be used to accelerate the phase two construction works.
Contractors involved
The October 2021 feasibility study was led by DRA Global (DRA), an engineering, project delivery, and operations management group headquartered in Australia. DRA was responsible for the studies related to mine planning, mineral reserve estimate, metallurgy, as well as capital and operating cost estimation.
GeoRes was responsible for the mineral resource estimation while global consulting firm Knight Piésold provided the design of tailings facilities. The hydrogeology, water quality, and environmental resource management studies were performed by Ulzii Environmental (Mongolia).
Steppe Gold engaged Mongolian professional services and equipment supplier Euro Khan to conduct a technical study for the potential development of a hybrid renewable energy system (RES) for the mine. Barloworld Mongolia is the supplier of heavy equipment (CAT) parts and power systems.
Chinese chemical company Hebei Chengxin provides cyanide for the project while Dow Chemical Mongolia supplies other reagents.
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PM orders decision on 3-day mandatory isolation to be nullified www.montsame.mn

Prime Minister L.Oyun-Erdene has ordered the State Emergency Commission to nullify the decision to quarantine citizens arriving from abroad to be quarantined for three days.
Furthermore, he has issued an order to impose COVID-19 testing fees for citizens arriving from abroad at the airport and border checkpoints. Regarding the decision, the State Emergency Commission will provide further details today, highlighted Spokesperson of the Prime Minister Ch.Bolortuya during a press conference.
“The Omicron variant has been detected in 147 countries as of today. On January 11, it was warned that 50 percent of the population in certain countries in Europe that have low vaccination rates could be at risk of becoming infected if cases of this particular variant continue to spread. Furthermore, a study carried out by British health authorities has found that booster shots give an estimated 70-75 percent protection against the Omicron variant. Thus, the Government and the State Emergency Commission are calling for citizens to be involved in their additional dose of COVID-19 vaccine,” she said.
As of today, 66.6 percent of the country’s total population have been fully vaccinated, while 29.1 percent have been administered the third dose in addition to 10,247 persons who have had their fourth dose of COVID-19 vaccine.
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Transport resumes for containers with import goods and products www.montsame.mn

Transportation has resumed for containers with imported goods and products that accumulated at the Erlian border checkpoint of China for three months.
In order to create the conditions to have uninterrupted transport of goods under pandemic circumstances, a ‘Zero Point’ was established between the borders of Mongolia and China. The Government of Mongolia is carrying out certain works to ensure the continuous transport of export and import goods, and to reduce and stabilize the prices of goods.
Headed by the Deputy Prime Minister, a working group in charge of enhancing the operations of border checkpoints and accelerating the transport of export and import products are currently working at Zamiin-Uud border checkpoint.
Yesterday on January 11, officials led by Deputy Prime Minister S.Amarsaikhan and Minister of Road and Transport L.Khaltar held meetings with authorities of Dornogobi aimag and Zamiin-Uud soum as well as representatives of truck drivers, and became acquainted with the current state of the situation. During the meeting, the Deputy Prime Minister highlighted the necessity to carry out stable operations in the inter-border zone utilizing all the possibilities.
Following the meeting, they visited the Regional Logistics Center and the local customs office to check the preparations for the transport of goods.
If infection prevention guidelines are adhered at a high level, it will become possible to continuously transport containers between the two countries’ border checkpoints, and increase the daily number of containers being transported, reports officials.
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Bill to suspend scheduled inspections for three years www.montsame.mn

At its regular meeting today, the Cabinet decided to submit to the Parliament a Bill on temporary suspension of some types of state inspections.
"Annual scheduled inspections carried out under the Law on State Inspection cause significant problems to businesses and enterprises. Therefore, the Bill states to suspend the scheduled inspections for three years," said Minister of Justice and Internal Affairs Kh. Nyambaatar at the press conference today.
"However, inspections to the Bank of Mongolia, Financial Regulatory Committee, customs, taxation, health, social insurance, and child protection fields will be conducted as usual. Citizens’ complaints related to human life, health and food safety will be inspected as well," added the Minister.
If the Bill is approved, it will be effective from February 1, 2022 to December 21, 2024.
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