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    

Events

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

NEWS

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How Mongolia Turned the Tides of the Pandemic www.thediplomat.com

In the global fight against the COVID-19 pandemic, Mongolia stood out as a “positive outlier” thanks to its vaccine diplomacy skills, which saw Ulaanbaatar obtain vaccines such as AstraZeneca, Sputnik V, Sinopharm, and Pfizer from partners around the world. Mongolia’s multi-pillar foreign policy and diplomatic efforts were the key to its vaccine success at a time when many developing countries faced severe shortages.
Still, in the summer of 2021, Mongolia experienced its highest infection spike to date, rising sharply from a few hundred daily cases in May to a peak of nearly 4,000 daily cases in September, leading to 2,023 deaths.
Nevertheless, thanks to relentless efforts made by Mongolia’s Foreign Ministry and Ministry of Health and the assistance from China, Russia, and third neighbor countries, Mongolia has managed to turn the tides of the pandemic yet again.
In the summer of 2021, despite Prime Minister Oyun-Erdene Luvsannamsrai’s optimism, the number of daily new confirmed COVID-19 cases and death rose sharply, receiving criticism from all sides of the political and social spectrum. However, the latest figures give hope that the country has ridden out the storm, while still having a stockpile of vaccines to be administered. That has allowed Mongolia to push ahead with third doses or “booster shots.”
Bolortuya Chuluunbaatar, the press secretary of the prime minister’s office, said in a tweet on December 6 that 23 percent of the total population, or 39 percent of adults, had received a third dose of vaccine. Zavkhan province is leading in vaccination numbers, with 49 percent of adults already vaccinated with a booster. Bolortuya added that 56.6 percent of the people who have received the booster are elderly, aged between 70-74.
Urug, a Mongolian independent media outlet, reported that 74.9 percent of the population in Ulaanbaatar had been fully vaccinated, and 37.4 had received a third dose. Overall, 91 percent of the adult population is fully vaccinated, making the landlocked country one of the most vaccinated nations in the world.
Mongolia’s pandemic management efforts were helped by the Mongolian government’s securing more than 2.5 million doses of booster shots of Pfizer BioNTech vaccine through the COVAX initiative, with a grant from Japan. Moreover, in August, “Japan has signed an agreement with Mongolia to extend 883 million yen ($8 million) in grant aid to help the country fight the coronavirus pandemic.” The grant specifically went toward providing cold chain equipment to keep vaccines at the proper temperatures.
While Mongolia has been active in the regional fight against COVID-19, other countries have also noticed Mongolia’s success in vaccinating both urban and rural populations. On December 2, Advisor to the Health Ministry Batbayar Ochirbat was interviewed by CNBC, and the U.S. television network recognized Mongolia’s astonishing success in bringing numbers down while receiving vaccinations and boosters. He stated, “Mongolia started with administering anti-viral early on under an organized action. We’re confident that Mongolia will get more COVID vaccines if needed. So far, we have a stockpiles of 7.7 million vaccinations.”
Moving forward, the government announced its preparations for the “New Revival Policy,” which aims to reinvigorate and diversify Mongolia’s economy, bolster export-oriented development projects, and increase foreign and domestic investment by creating a more favorable business environment.
In pursuit of diversifying its economy, the Business Council of Mongolia hosted the COP26 Implications on Business and Investment Forum, which include panelists such as Axelle Nicaise, ambassador and the head of the European Delegation to Mongolia; Catherine Ivkoff, Canada’s ambassador to Mongolia;, Philip Malone, the U.K. ambassador to Mongolia; Sebastien Surun, France’s ambassador to Mongolia; and Gregory May, deputy chief of mission at the U.S. Embassy Ulaanbaatar.
Given recent climate pledges made at COP26 in Glasgow, Scotland, with signals a global shift away from coal, it is paramount for Mongolia to highlight the changing investment climate. Mongolia’s change-in-gear can be viewed as an opportunity for foreign investors, but it is also a necessity for the country to shift toward truly diversifying the national economy, embracing green energy and sustainable development projects.
While all these dynamics are mentioned in Mongolia’s long-term development strategy, Vision 2050, Oyun-Erdene and his government must find a tangible roadmap to achieve these goals and improve the country’s investment environment. In the short term, Mongolia – like many other countries – must also find a solution to extreme price hikes for groceries and fuel. Moreover, as a significant recovery measurement, the Ministry of Finance rolled out the most extensive stimulus package yet, worth 10 trillion Mongolian tugrik ($3.5 billion) or a quarter of the country’s GDP.
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.
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Mongolia accedes to UN nuclear weapon ban treaty www.icanw.org

Mongolia acceded to the Treaty on the Prohibition of Nuclear Weapons (TPNW) on 10 December 2021, becoming the 57th state party. In a speech to the national parliament in October, the Mongolian foreign minister, Battsetseg Batmunkh, said that joining this landmark treaty would “meet the fundamental interests of national security”.
With Russia located to its north and China to its south, Mongolia is surrounded by nuclear-armed states and has long stressed the need for greater action on disarmament. In 1992, it formally declared itself a single-state nuclear-weapon-free zone.
In an address to the UN General Assembly this September, Mongolia said that the TPNW’s entry into force “set a milestone in the international efforts in banning these disastrous weapons”. It added that the treaty will be “instrumental” in eliminating nuclear weapons.
Mongolia has actively promoted universal adherence to the TPNW, including by co-sponsoring and consistently voting in favour of an annual UN General Assembly resolution since 2018 that calls upon all states to sign, ratify, or accede to the treaty “at the earliest possible date”. In 2017, Mongolia participated in the TPNW’s negotiation at the United Nations and was among 122 states that voted for its adoption.
In its opening statement to the negotiating conference, it expressed hope that the treaty-making process would “establish a strong, robust but effective legally binding instrument to prohibit nuclear weapons, leading towards their total elimination”. Following the treaty’s adoption, the then-minister of foreign affairs of Mongolia, Tsend Munkh-Orgil, welcomed the new agreement, noting that “current tensions have only deepened the concern associated with nuclear weapons”.
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ADB concludes consultations on future operational priorities with all 21 provinces of Mongolia www.akipress.com

The Asian Development Bank (ADB) has completed provincial-level consultations as part of the 30th anniversary of Mongolia-ADB partnership with a fifth event covering the western provinces. Governors of Bayan-Ulgii, Govi-Altai, Khovd, Uvs, and Zavkhan provinces discussed their medium-term development policies and post-COVID-19 economic recovery based on agriculture, private sector development, and cross-border trade and tourism, ADB said in a release.
“ADB is working with the government and other development partners to promote low-carbon, climate-resilient territorial development and green economic diversification by supporting sustainable livestock sector management and reverse rangeland degradation,” said ADB Deputy Country Director for Mongolia Declan Magee. “Initially focusing on Mongolia's western aimags, this investment program will provide a transformative model for development that can be replicated countrywide, with aimag and soum centers becoming anchors of green agribusiness.”
Recent major investments in the transport sector have given a boost to overcome the western region’s isolation from domestic and international markets. The Western Regional Road Corridor connecting the People’s Republic of China and the Russian Federation runs nearly 750 kilometers (km) through Khovd and Bayan-Ulgii provinces where ADB helped construct 420 km. The government has also built paved roads connecting all western provinces with Ulaanbaatar.
The regional event started with virtual site visits to education, energy, gender, health, trade facilitation, and transport projects financed by ADB. Representatives of project executing agencies then discussed impacts and lessons from the projects and possibilities to replicate them in other regions and provinces.
In the second part of the event, representatives of central and local governments discussed the region’s trade and investment opportunities as well as quality and access of social services to promote economic competitiveness. Provincial governors stressed the importance of supporting micro, small and medium enterprises. They also emphasized investing in housing and urban infrastructure to attract businesses and professional workforce to the country’s western region where the glacier-peaked Altai mountain ranges often made this region difficult to access.
Provincial-level regional consultations carried out by ADB throughout the year as part of the activities commemorating the 30th anniversary of partnership with Mongolia heard and visited all 21 provinces. Discussions with provincial governors have highlighted investment in infrastructure and connectivity, financing for climate-resilient agribusiness value chains, and closing inequalities between urban and rural areas through social services as key to promoting rural development in Mongolia.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.
 
 
 
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Melting glaciers reveal Mongolian artifacts www.news.mn

The effects of climate change are currently being observed in Mongolia as the summer ice loss harms the health of domestic reindeer and pastures become less viable.
The National Museum of Mongolia and partners are working to identify and preserve ancient materials that are emerging from the melting ice in Mongolia. These materials have given historians much insight into how people, specifically ancient Mongolians, have lived in the past.
According to news sources, one of the first discoveries to emerge from a melted glacier was a finely woven piece of animal hair rope. Archaeologists believe this to be from a bridle or a harness, and its condition made it appear as if it had just been dropped in the ice the day before. However, after a thorough evaluation, archaeologists found that it was over 1,500 years old. This finding revealed things about the lifestyle of ancient Mongolian people, such as their herding practices.
In addition to the bridle or harness piece that was found, archaeologists are finding skeletal remains of many animals that do not even exist anymore. Among these remains are argali sheep, spanning a period of more than three millennia.
Hunting artifacts were found with these skeletal remains which reveals a vital piece of information about the lives of ancient Mongolians: they were not just herders, but also hunters.
As stated on The Conversation, a nonprofit news organization, “these finds demonstrate that big game hunting on mountain ice has been an essential part of pastoral subsistence and culture in the Altai Mountains for thousands of years.”
(Merciad)
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Restoration works required for 140 historical buildings in Ulaanbaatar www.montsame.mn

Researchers highlighted that it has become necessary to restore historical buildings during a discussion held on December 8.
The Choijin Lama Temple Museum organized a discussion under the topic, ‘Current state of restoration for historical buildings, and its future’ at the Museum of Chinggis Khaan in aims of accelerating the studies being carried out on restoring historical buildings, discussing the policies implemented on the buildings’ restoration and making an assessment, and promoting historical heritage and its current state.
As historical buildings are a form of cultural heritage representing the corresponding period in history, officials highlighted the importance of conserving the original state of such structures as well as their restoration in order to pass them on to future generations.
Director of the National Center for Cultural Heritage G.Enkhbat said, “Mongolia had an organization that was established in the 1970s, solely in charge of restoring historical buildings. With sufficient equipment, the organization properly set up plans for when to make the necessary repairs for certain buildings. However, the organization was abolished during the 1990s due to privatization. Since then, private entities have been in charge of the works. A list of historical buildings that require restoration works have been recently made. While there are 140-150 buildings in Ulaanbaatar alone, there are some 1,000 historical monuments alongside temples and monasteries nationwide. We are currently receiving suggestions from corresponding organizations about strengthening and repairs in sections. Works are planned to be initially carried out for 3-4 buildings such as the Choijin Lama Temple Museum and the Bogd Khaan Palace Museum in 2022, of which the necessary financing will be allocated from the state budget.”
During the discussion, the participants discussed various topics such as the current state of conservation and protection of historical buildings, practices implemented internationally for building restoration, necessity of architects and restoration specialists, disaster protection, and the legal framework for restoration works.
The discussion was attended by specialists of the Ministry of Culture and the Ministry of Construction and Urban Development, representatives of museums, temples and monasteries with such buildings, researchers and scholars, and representatives of NGOs.
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COVID-19: 338 new cases, three deaths reported www.montsame.mn

The Ministry of Health reported today that 338 СOVID-19 infections and three deaths were recorded in the last 24 hours. In detail, 213 cases were reported in Ulaanbaatar city, with 124 cases in 21 provinces and one imported case.
Today, the cumulative infection tally in Mongolia has increased to 385,814, with the death toll to 1,953. Currently, 3,898 people are receiving hospital treatment for COVID-19 whilst 7,301 people with mild symptoms are being treated at home.
The coverage of 1st dose has reached 69.5 percent (2,262,343), 2nd dose – 66.2 percent (2,155,006) and 3rd dose or a booster shot of COVID-19 vaccines – 24.0 percent (776,437) of the total population.
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MCC Introduces Updated Policy to Reduce Trafficking-in-Persons www.mn.usembassy.gov

Ulaanbaatar (December 8, 2021) The Millennium Challenge Account, Mongolia (MCA-Mongolia) and the U.S. government’s Millennium Challenge Corporation (MCC) held a public event to introduce MCC’s updated Counter-Trafficking in Persons (C-TIP) Policy.
On October 18, 2021, MCC approved an updated version of its Counter-Trafficking in Persons (C-TIP) Policy. The C-TIP policy guides the efforts of MCA-Mongolia and its contractors to ensure zero tolerance for trafficking in persons in the MCC-Mongolia Water Compact, from project design to construction. In less than three decades, the population of Ulaanbaatar has nearly tripled in size; however, the water supply has remained the same, creating the conditions for a severe water crisis. The MCC-Mongolia Water Compact will build the critical infrastructure necessary to sustain this limited natural resource, positively impacting more than 55 percent of Mongolia’s population.
The updated MCC C-TIP policy specifically references both sex trafficking and forced labor, and it makes C-TIP Minimum Compliance Requirements a central part of the policy. “We expect the C-TIP Minimum Compliance Requirements to have positive impact on our enforcement efforts by clearly spelling out what all actors in MCC-funded programs must do,” explained Fatema Z. Sumar, MCC’s Vice President for the Department of Compact Operation.
“This policy also fits into a U.S. Government-wide effort aimed at countering trafficking in persons,” explained Gregory May, the U.S. Embassy’s Deputy Chief of Mission, and “it reinforces the Government of Mongolia’s anti-trafficking efforts.” The State Department’s 2021 Trafficking in Persons Report states that, “the Government of Mongolia demonstrated overall increasing efforts compared to the previous reporting period.”
The Millennium Challenge Corporation is an international development agency of the U.S. Government, working to reduce global poverty through economic growth. Created in 2004, MCC provides time-limited grants and assistance to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.
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Time to accelerate translation of laws on violence against women into reality - UN expert www.ohchr.org

ULAANBAATAR (8 December 2021) – A UN human rights expert today commended Mongolia’s significant progress in passing legislation to combat gender-based violence against women, saying the challenge now was to ensure effective implementation of the laws throughout the country.
In the past 10 years, key pieces of legislation on domestic violence, trafficking in people, gender equality, and witness and victim protection, among others, have set a legal framework to tackle gender-based violence, said the Special Rapporteur on violence against women, Reem Alsalem, in a statement at the end of an official visit to the country.
“They offer a solid basis for continuing with legal reform, including that needed to align national legislation with international standards,” she said.
“It is welcome that services for victims, like shelters, one-stop service centres and multidisciplinary teams, have been progressively expanded, including at provincial level. More needs to be done however to ensure their availability and viability, particularly for women in remote or rural areas.”
There is also a need to promote a gender-sensitive approach by these services, especially those designed to target women victims of domestic violence, Alsalem said. Currently, service providers, particularly State-run, place actions related to women victims of violence under the broader heading of family-related interventions or combine them with actions aimed at preventing violence against children.
The expert also called on the Government to widen the scope of its policies and services to explicitly identify, include and reach vulnerable groups who are particularly exposed to gender-based violence such as victims of trafficking, members of the LGBTI community and sex workers.
“Service providers, law enforcement and the justice system need to respond to the needs of all groups of women and girls, and to all types of violence they experience, not only domestic violence,” Alsalem added.
To be truly effective, prevention activities need to tackle the deep-seated harmful gender stereotypes that exist in Mongolian society and that normalise violence against women and blame victims.
“Bold, courageous campaigns, as well as human rights education, are necessary, including to address alcoholism, a triggering factor in many cases of violence,” the expert said.
During her 10-day mission, Alsalem met Government officials, members of Parliament, the Supreme Court, independent state institutions, international organizations, donors, financial institutions, civil society organizations and victims.
The Special Rapporteur will present her findings to the Human Rights Council in June 2022.
ENDS
Ms Reem Alsalem (Jordan) was appointed as Special Rapporteur on violence against women, its causes and consequences by the UN Human Rights Council in July 2021, to recommend measures, ways and means, at the national, regional and international levels, to eliminate violence against women and its causes, and to remedy its consequences. She holds a Masters in International Relations from the American University in Cairo, Egypt (2001) and a Masters in Human Rights Law from the University of Oxford, United Kingdom of Great Britain and Northern Ireland (2003). She is an independent consultant on gender issues, the rights of refugees and migrants, transitional justice and humanitarian response.
The Special Rapporteurs are part of what is known as the Special Procedures of the Human Rights Council. Special Procedures, the largest body of independent experts in the UN Human Rights system, is the general name of the Council's independent fact-finding and monitoring mechanisms that address either specific country situations or thematic issues in all parts of the world. Special Procedures experts work on a voluntary basis; they are not UN staff and do not receive a salary for their work. They are independent from any government or organisation and serve in their individual capacity.
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The new Cuban Ambassador of Cuba in Mongolia presents Copy of his Credential Letters to the Mongolian Deputy Minister of Foreign Affairs www.cubaminrex.cu

On the afternoon of December 7, the new Cuban ambassador of Cuba in Mongolia, Jorge Ferrer Rodríguez, handed over to the Deputy Foreign Minister of that country, His Excellency Mr. Munkhjin Batsumber, the Copies of the Credential Letters, which accredit him as Extraordinary and Plenipotentiary Ambassador of the Republic of Cuba in that nation.
The ceremony, which took place at the headquarters of the Ministry of Foreign Affairs, was also attended, on the Mongolian side, by H.E. Mr. Anand Amgalan, new Director General of the America, Middle East and Africa Department, as well as other officials of the Ministry of Foreign Affairs.
Both parties highlighted the happy coincidence of this act with the 61st anniversary of the establishment of diplomatic relations between the two countries, which began on this same date in 1960.
They also expressed that their respective countries are honored by the fact that Cuba was the first country in Latin America and the Caribbean to formalize diplomatic ties with Mongolia and it is the only nation in that region that has an Embassy in the Mongolian capital. while Havana hosts the only diplomatic mission of this Asian country in that region of the western hemisphere.
The Mongolian Deputy Foreign Minister recalled the visit to Cuba in 1972 of the then party leader and Mongolian president, Umjaagiin Tsedenbal, who was received by the historical leader of the Cuban Revolution, Commander in Chief, Fidel Castro Ruz.
When reviewing the state of the ties between the two countries, the two interlocutors recalled the existence of important bilateral agreements and mechanisms and agreed to qualify the relations as friendly and the cooperation as fruitful in various areas, among which they highlighted the training of more than 100 Mongolian professionals in Cuban universities for several decades.
The Vice Minister of Foreign Affairs wished the new Cuban Ambassador success and expressed his willingness and that of the Foreign Ministry to support the performance of his duties in the country.
(Cubaminrex-Embassy of Cuba in Mongolia)
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Ivanhoe Mines secures $300m in stream financing for Platreef www.mining.com

Ivanhoe Mines (TSX: IVN)(OTCQX: IVPAF) said on Wednesday it had secure $300 million in stream financing for its platinum group and gold Platreef mine in the South African province of Limpopo.
The Canadian miner said its subsidiary, Ivanplats, closed a $200 million gold stream financing agreement with Orion Mine Finance and Nomad Royalty Company, as well as a $100 million palladium and platinum streaming facility for Platreef.
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Ivanhoe said the proceeds will be used to advance the first phase of Platreef’s mine development, which is expected to begin commercial production in 2024.
As part of the gold deal, Ivanplats will deliver a total of 80% of contained gold in concentrate until 350,000 ounces have been delivered, at which point the stream is reduced to 64% of contained gold in concentrate for the remaining life of the facility (until 685,280 ounces of gold have been delivered).
Under the platinum agreement, Orion Mine Finance will receive a total of 4.2% of contained palladium and platinum in concentrate until 350,000 ounces have been delivered, after which the stream falls to 2.4% for the remaining life of the facility, or the delivery of 485,115 ounces of palladium and platinum.
The definitive feasibility study for Platreef’s phased development plan, which will provide updated production forecasts for the initial mine and subsequent expansion, is nearing completion, the company said, with release expected in the first quarter of 2022.
Ivanplats has also signed documents relating to offtake arrangements for 100% of Platreef’s Phase 1 platinum-group metals (PGMs) concentrate production, which is expected to exceed 40,000 t/y containing six payable metals – palladium, rhodium, platinum, nickel, copper and gold.
The offtake arrangements are with Northam Platinum and Heron Metals, in a joint venture in which commodity trader Trafigura has a majority shareholding.
A three-phase project
Ivanhoe is developing the multi-billion dollar platinum project in three scalable phases. “The phased development approach has worked extremely well at Kamoa-Kakula and we consider it to be the optimal strategy to accelerate our growth and diversification across commodities,” the company’s president, Marna Cloete, said in the statement.
The company said it sees the first-phase, 700,000-tonne-per-annum operation as its “starter mine”, one that will establish a strategic production foothold on South Africa’s Bushveld PGM Complex, and support potential future expansions.
“Future expansions to 12 million tonnes per annum and beyond, as demonstrated in previous studies, would position Platreef among the world’s largest and lowest-cost nickel and PGM mines, producing more than 24,000 tonnes of nickel and 1.1 million ounces of palladium, rhodium, platinum, and gold per year,” Ivanhoe said.
The Canadian miner indirectly owns 64% of the Platreef project through Ivanplats, and is directing all mine development work.
The operation will trial emissions-free machines during its initial development phase, during which it will produce palladium, rhodium, platinum, nickel, copper and gold.
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