As part of the 2022 IJF World Tour, the Ulaanbaatar Grand Slam tournament will be held at Steppe Arena in Ulaanbaatar city between June 24 and 26.

Three types of tickets will be sold for the event:

• Group-stage matches - MNT 30,000 (1 day),

• Finals - MNT 50,000 (1 day,)

• and VIP ticket for all three days of the tournament - MNT 1,000,000, which will be sold in limited quantities as it also includes refreshments, restaurant services, and other advantages.

Tickets are available for purchase at the Central Sports Palace.

On June 2, Minister of Foreign Affairs of Mongolia B.Battsetseg had a telephone conversation with Minister of Foreign Affairs of the Russian Federation S.V. Lavrov.

The Foreign Ministers noted that relations and cooperation between the two countries are developing at the level of a comprehensive strategic partnership, and exchanged views on some issues of mutual interest, including recent visits, trade, and economic issues.

They also discussed some issues of international relations and cooperation within some international organizations.

Elon Musk, the founder of Space X and Tesla, the richest man in the world, founded a company called Starlink Services Mongolia in Mongolia. The company is registered on the website of the State Registration Agency of Mongolia, at the address 1001, 10th floor, Metro Business Center, 6th khoroo, Ulaanbaatar, Sukhbaatar, and was established on 21 March.

Furthermore, State Secretary of the Ministry of Digital Development and Communications B.Bolor-Erdene held online meeting with Gwynne Shotwell, president and chief operating officer of SpaceX on 2 June.

SpaceX president Gwynne Shotwell noted that the company need to build several satellite ground stations in Mongolia due to geographical challenges. Mongolia is the world’s largest landlocked country.

According to Starlink’s official webpage, the satellite internet service will be launched by 2023.

To help the people of Mongolia take ownership of their personal data, its government recently required that notifications to be sent to citizens when government agencies use their data. This is to an extent not usually seen in many countries.

For example, if a Mongolian makes an application to the tax authority, he will get a notification through an electronic government services app that the authority is checking his data when processing the application. If he does not get this alert, he can file a complaint through the app, called e-Mongolia, to a centre that comes under the Mongolian prime minister’s office. For healthcare, if a doctor checks a patient’s health records, the patient will be notified on the app about this. It tells him which hospital and doctor were involved, and the time this check was done, among other things.

Mongolia’s Parliament passed the Law on Personal Data Protection in December last year and it took effect in May. It is said to be more stringent than the previous legislation when it comes to personal data. According to Ministry of Digital Development and Communications, in future, the government will develop a system in which citizens can give approval for the use of their data. If they refuse, their data cannot be accessed.

Notifying citizens when the government uses their data is one way Mongolia is trying to balance its aims of digitalising with rising online threats such as cyber attacks and scams.

In October 2020, the country launched the e-Mongolia platform to provide citizens with more government services digitally. Initially, there were about 180 public services available. Now, this has grown to over 650. For instance, citizens living in the countryside, like herdsmen, can apply for passports online instead of spending hours travelling to towns or cities to do so.

The government is also working to digitalise the healthcare sector. Citizens can make appointments with hospitals and get medical test results online.

Davos, Switzerland (CNN Business)The global economy is being brought to the edge of a precipice by crisis upon crisis.

As the first World Economic Forum to be held in person since 2020 opened in Davos, Switzerland on Monday, the International Monetary Fund said the economy faces "perhaps its biggest test since the Second World War."

"We face a potential confluence of calamities," IMF Managing Director Kristalina Georgieva said in a statement.

She warned that Russia's invasion of Ukraine has "compounded" the effects of the Covid-19 pandemic, weighing on the economic recovery and fanning inflation as the cost of food and fuel jumps.

Rising interest rates are adding to pressure on countries, companies and households with big piles of debt. Market turbulence and ongoing supply chain constraints also pose a risk.

And then there's climate change.

To limit the economic stress, the IMF is calling for government officials and business leaders meeting in Davos to discuss lowering trade barriers.

But as countries battle growing dismay about the cost-of-living crisis at home, some are heading in the opposite direction, implementing restrictions on trade in food and agricultural products that can exacerbate shortages and push up prices globally.

Earlier this month, India's decision to ban the export of wheat sent the price of the grain soaring, even though it's a relatively small exporter. Indonesia banned most exports of palm oil in April to protect domestic supplies, but will lift the ban this week.

— This is a developing story and will be updated.

TMK Energy (ASX:TMK) and Talon Energy (ASX:TPD) have jointly announced the discovery of a 70 metre thick gas-bearing coal body at 167 metres depth onsite the partnerships’ Mongolia-based Gurvantes CSG Project in the southern region of Mongolia’s Gobi Desert, Nariin Sukhait.

TMK holds a 100% interest in the project, Talon Energy retains a 33% working interest which it acquired via farm-out last year.

Preliminary results from downhole the recently spud Snow Leopard-2 well (SL-02) “indicate high gas contents,” the partnership states, and is currently at a depth of 360 metres.

The 70m thick coal body identified today was located at 167m depth, a relatively shallow depth compared to the full capability of the drill rig on-site.

The total planned depth for SL-02 sees it conclude at 600m. Upon completion of the drill run, further downhole tests will be conducted.

(Source: Talon Energy) A map detailing the location of the Gurvantes Project

(Source: Talon Energy) A map detailing the location of the Gurvantes Project

Promising signs already for first two Gurvantes wells

The partnership interprets initial gas results to reflect gas contents of between 11.4 metres cubed per tonne and 15.2m3/t.

Meanwhile, the company continues to interpret datasets from the Snow Leopard-1 well, with over 40 samples being used to build a better idea of geology and recoverable downhole gas.

Coal quality data, according to the partnership, indicates bituminous coal ranked in between A and B types, consistent with the Surat and Bowen Basin CSG geologies in Australia.

Harsh terrain impacting equipment, but nothing major

While the results are promising news for the partnership, it did note some operational challenges in carrying out technical tests in SL-02 due to the quality of equipment, hole conditions, and “testing methods.”

The partnership expects these issues to be remedied quickly, and do not threaten the economics of the project.

New equipment is being mobilised on-site.

WRITTEN BY

Jonathon Davidson

Journalist

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

Mongolia reported 46 new COVID-19 infections, according to the country's health statistics database as of May 23.

32 of them were found in Ulaanbaatar, and 14 cases were detected in regions of the country.

No new linked death were reported during the past day, the death toll remains at 2,114.

On the last day of the Summer Grand Sumo Tournament on May 22, Yokozuna (Grand Champion) Terunofuji G.Gan-Erdene raised his 7th Emperor’s Cup.

Despite injuring his right ankle and knee in the previous tournament, he was able to win his match against Ozeki Mitakeumi by yorikiri (frontal force out).

With this victory, he became the champion of the tournament with 12 wins and 3 losses.

From the Mongolian sumo wrestlers that competed at the highest division during the tournament, Kiribayama B.Lkhagvasuren (10 wins and 5 losses), Tamawashi B.Munkh-Orgil (9 wins and 6 losses), and Hoshoryu S.Byambasuren (8 wins and 7 losses) were able to finish with a positive record.

With aims to establish an oil refinery based on available supply of commodities, meet domestic demands for gasoline, and launching domestic production, a comprehensive construction project is being implemented in Altanshiree soum, Dornogobi aimag - the project of Mongol Refinery State Owned LLC.

Planned to be put into operation in 2025, the construction works were recently launched. Its detailed feasibility study was approved by the Mineral Resources Professional Council at the Ministry of Mining and Heavy Industry on November 15, 2018.

A bill on supporting the oil refinery was developed by a working group consisting of officials and representatives from the Ministry of Justice and Internal Affairs, Ministry of Finance, Ministry of Mining and Heavy Industry, Mineral Resources and Petroleum Authority of Mongolia, and Mongol Refinery State Owned LLC, which was discussed at a Cabinet meeting on December 30, 2020. Following this, the Standing Committee on Industrial Policy formed a working group, and corresponding bills were approved at the parliament’s plenary session on January 29, 2021. The Government also approved the regulations on state support for the oil refinery on August 11, 2021. It was through all these stages that the legal environment was created for an oil refinery to be established in Mongolia.

Non-technological facilities and structures

The first stage of the refinery’s construction consists of non-technological facilities. The first engineering-procurement – construction (EPC-1) contract was signed with the company, ‘JMC Projects India’, in October 2020, and its works launched in January 2021.

In preparation for the construction to be carried out for non-technological structures, facilities, pipelines, and the site, domestic resources were utilized in connecting the area to railroad, autoroad, and power lines.

Within its frames, the Ministry of Defense, Ulaanbaatar Railway JSC, and the National Power Transmission Grid have handed over a 17.5 km-long autoroad, 27 km railroad, 3.7 km junction, concrete bridge, tunnel, and 18.6 km-long 110kW overhead power lines as well as a 110/10kW substation to the State Commission.

On top of this, the first apartment complex for housing 550 households is currently being built in Sainshand for the refinery’s workers. Once the apartments are commissioned, it is planned to be expanded into a microdistrict of comfortable apartments with modern solutions. During the entire duration of the oil refinery’s construction, around 8 thousand workers will be working at the site.

Crude oil pipeline

On March 1, 2021, Mongol Refinery State Owned LLC had a request for expression of interest for the tender to select the contractor for engineering, procurement and construction plus financing (EPC plus F) of the project to construct a crude oil pipeline published on the website, Pipeline & Gas Journal, announcing the tender internationally. About 20 foreign and domestic companies expressed their interest in participating in the tender, and the process to select the contractor was completed on October 20, 2021.

As the Chinese state-owned NORINCO International Cooperation was selected through the tender, a cooperation agreement was signed by State Secretary of the Ministry of Mining and Heavy Industry G.Nandinjargal, CEO of Mongol Refinery State Owned LLC D.Altantsetseg, CEO of Erdenes Tavantolgoi JSC B.Gankhuyag (as the project financing body), and General Manager at NORINCO International Cooperation Zhou Dian Bin in April 2022.

With financing of USD 388 million from Erdenes Tavantolgoi JSC, the crude oil pipeline will pass through nine soums of three aimags, stretching for 530 km.

Per the Cabinet’s resolution on issuing oil exploration area in the Tamsag basin to the Mongol Refinery company, an oil pipeline will be constructed from Matad soum, Dornod aimag to the oil refinery site in Altanshiree soum, Dornogobi aimag. It is planned to be constructed in three years, before the oil refinery is put into operation.

As the pipeline will be constructed deep underground, it will not only be the first of its kind in Mongolia for fulfilling the roles of storage, transport method, and infrastructure, but also save power costs.

A new industry for the country

Works for the construction of industrial facilities (EPC-2,3) and deep-processing facility (EPC-4) will be carried out in phases. The EPC-3 contract includes constructing the refinery’s own power plant based on locally produced fuel, while EPC-4 will include acquiring the corresponding rights and permissions from large-scale companies in the petrochemical industry.

However, it should be noted that the oil refinery would not be considered large according to international standards. Thus, there have been certain cases where companies refused to participate in a “small” project. Despite this, the team working at Mongol Refinery State Owned LLC has been resolving the issue. For instance, the company has begun to sign license agreements as the selection process has been completed. Last month, Mongol Refinery signed a license agreement with Axens Solutions for its sulfur recovery unit. A license and engineering agreement for four of the deep processing units at the oil refinery has also been signed with Honeywell UOP.

Socio-economic benefits of the oil refinery

Firstly, once it becomes possible for Mongolia to produce its own gasoline and oil products at the oil refinery in Altanshiree soum, the country will no longer be dependent on imports. In other words, the country will increase its economic independence in the region.

Furthermore, the foundations for the petrochemical industry will be laid out with the introduction of the technology. Alongside making contributions to the state and local budgets, the refinery will not only create some 600 job opportunities, but also significantly increase the number of jobs available in the industry indirectly.

As the outflow of foreign currency decreases, foreign exchange rates will stabilize. And as a result, Mongolia’s GDP is estimated to grow by over 10 percent. In this sense, the project for the construction of an oil refinery in Altanshiree soum could be considered as one of the main projects to boost the country’s development.

Processing capacity: 1.5 million tons of crude oil per year

Location: Altanshiree soum, Dornogobi aimag

Sources for crude oil: Toson Uul XIX, and Tamsag XXI sites

Product quality: MNS & EURO V

Annual operating hours: 8,000 hours

Deep processing technology: Hydrocracking, Visbreaking

Power source: TPP 35 MW/h

The oil refinery will produce:

• 339 thousand tons of gasoline,

• 824 thousand tons of diesel,

• 80 thousand tons of aviation fuel,

• 43 thousand tons of liquefied gas,

• 47 thousand tons of stove fuel.