1 MONGOLIA PM FACES LIKELY CONFIDENCE VOTE AMID CORRUPTION CLAIMS WWW.AFP.COM PUBLISHED:2025/06/02      2 RIO TINTO FINDS ITS MEGA-MINE STUCK BETWEEN TWO MONGOLIAN STRONGMEN WWW.AFR.COM PUBLISHED:2025/06/02      3 SECRETARY RUBIO’S CALL WITH MONGOLIAN FOREIGN MINISTER BATTSETSEG, MAY 30, 2025 WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/02      4 REGULAR TRAIN RIDES ON THE ULAANBAATAR-BEIJING RAILWAY ROUTE TO BE RESUMED WWW.MONTSAME.MN PUBLISHED:2025/06/02      5 MONGOLIAN DANCE TEAMS WIN THREE GOLD MEDALS AT THE WORLD CHAMPIONSHIP CHOREOGRAPHY LATIN 2025 WWW.MONTSAME.MN  PUBLISHED:2025/06/02      6 RUSSIA STARTS BUYING POTATOES FROM MONGOLIA WWW.CHARTER97.ORG PUBLISHED:2025/06/02      7 MONGOLIA BANS ONLINE GAMBLING, BETTING AND PAID LOTTERIES WWW.QAZINFORM.COM PUBLISHED:2025/06/02      8 HOW DISMANTLING THE US MILLENNIUM CHALLENGE CORPORATION WILL UNDERMINE MONGOLIA WWW.THEDIPLOMAT.COM PUBLISHED:2025/05/30      9 ORBMINCO ADVANCES BRONZE FOX PROJECT IN KINCORA COPPER PROJECT IN MONGOLIA WWW.DISCOVERYALERT.COM.AU PUBLISHED:2025/05/30      10 MONGOLIA SOLAR ENERGY SECTOR GROWTH: 1,000 MW BY 2025 SUCCESS WWW.PVKNOWHOW.COM PUBLISHED:2025/05/30      ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ, С.БЕРДЫМУХАМЕДОВ НАР АЛБАН ЁСНЫ ХЭЛЭЛЦЭЭ ХИЙЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     Н.НОМТОЙБАЯР: ДАРААГИЙН ЕРӨНХИЙ САЙД ТОДРОХ НЬ ЦАГ ХУГАЦААНЫ АСУУДАЛ БОЛСОН WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/02     Л.ТӨР-ОД МҮХАҮТ-ЫН ГҮЙЦЭТГЭХ ЗАХИРЛААР Х.БАТТУЛГЫН ХҮНИЙГ ЗҮТГҮҮЛЭХ ҮҮ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ЦЕГ: ЗУНЫ ЗУГАА ТОГЛОЛТЫН ҮЕЭР 10 ХУТГА ХУРААЖ, СОГТУУРСАН 22 ИРГЭНИЙГ АР ГЭРТ НЬ ХҮЛЭЭЛГЭН ӨГСӨН WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООЖ, ШАЛГАНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/02     ГАДНЫ КИБЕР ХАЛДЛАГЫН 11 ХУВЬ НЬ УИХ, 70 ХУВЬ НЬ ЗАСГИЙН ГАЗАР РУУ ЧИГЛЭДЭГ WWW.ZINDAA.MN НИЙТЭЛСЭН:2025/06/02     НИЙТИЙН ОРОН СУУЦНЫ 1 М.КВ-ЫН ДУНДАЖ ҮНЭ 3.6 САЯ ТӨГРӨГ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/02     ГОВИЙН БҮСИЙН ЧИГЛЭЛД УУЛ УУРХАЙН ТЭЭВЭРЛЭЛТИЙГ БҮРЭН ЗОГСООНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30     СОР17 УЛААНБААТАР ХОТНОО 2026 ОНЫ НАЙМДУГААР САРЫН 17-28-НД БОЛНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/05/30     НИЙСЛЭЛИЙН ТӨР, ЗАХИРГААНЫ БАЙГУУЛЛАГЫН АЖИЛ 07:00 ЦАГТ ЭХЭЛЖ 16:00 ЦАГТ ТАРНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/05/30    

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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PDAC: Canada, Australia risk falling behind in investment race, BHP boss says www.mining.com

Canada and Australia could trail emerging mining nations such as Argentina if their governments don’t speed up permitting and lower costs, BHP (NYSE, LSE, ASX: BHP) CEO Mike Henry warned.
Countries such as the United States, Argentina and Saudi Arabia are making “sizeable” efforts to reform their mining sector and attract capital, Henry said Sunday in Toronto. At the same time, established natural-resource powerhouses such as Canada and Australia have seen their global attractiveness erode.
Henry’s comments come as the US administration of President Donald Trump looks to spur domestic production of critical minerals in part by overhauling permitting requirements. According to a June 2024 report by S&P Global, the US has the second-longest average development times in the world of the 23 countries they evaluated.
“Just as is the case for business, nations need to remain competitive on the global stage or they will be left behind in the race for metals and minerals investment programs,” Henry said in a speech and subsequent question and answer session at the annual Prospectors & Developers Association of Canada conference. “The competitive landscape isn’t static.”
Benchmarking
If a country isn’t constantly benchmarking, “it runs the risk of falling behind,” added Henry. “Once capital mobilizes in one direction, sometimes it can be quite hard to mobilize in the other direction.”
Permitting delays are a key irritant for miners. New mines in Australia and Canada typically take from 10 to 15 years to get built, compared with as few as five years in a country like Chile, Henry said.
Although Canada possesses many advantages, including plentiful natural resources and a strong ecosystem that includes engineering firms with mining experience, the country is no longer as attractive to foreign investment as it once was, the Canadian-born Henry said.
Canada’s competitiveness has dropped from eighth to 19th in the past four years in the World Competitiveness Yearbook published by the Switzerland-based International Institute for Management Development, and the country needs a renewed reform agenda to bolster mining competitiveness, he said.
Issues in Australia include electricity prices that are about 50% higher than in the US and combined tax and royalty levels that are “simply uncompetitive for capital,” Henry said. To make matters worse, the country has limited reserves of “future-facing commodities” like copper, nickel or lithium, he added.
“Australia can no longer rely as heavily on its geological advantages but instead must exercise its policy muscles to improve competitiveness,” he said. “It needs to confront the fact that productivity growth is sluggish across the broader economy and has fallen in the mining sector across the past two decades.”
‘Can-do’
As a result, policymakers “need to examine the entire set of policy and regulatory settings and ask whether they are making the country more or less competitive globally,” the BHP CEO added.
It’s a different story in the US, where multiple initiatives are under way to expand mining output. Henry spent last week in Washington to meet with US lawmakers and says he came away encouraged by the “can-do, make-it-happen attitude” in his meetings.
Compared with Canada and Australia, “other countries are mobilizing a more urgent effort and have higher ambitions around this. That includes the US, who’s currently behind the curve but could very well end up being far ahead of the curve if they carry through with some of their current intent,” he said.
Henry is also optimistic about Argentina, given its reserves of copper, gold and lithium. In copper alone, projects representing about 1.2 million tonnes of annual output are in the pipeline, with “much more to come,” he said.
BHP and Canada’s Lundin Mining (TSX: LUN) recently closed the $4.1 billion acquisition of Argentina’s Filo Corp as part of an increased focus on copper. BHP’s contribution was about $2 billion, Henry said.
“Argentina could very well become a top 5 copper producer,” Henry said. “Argentina is serious about competing globally,” he said. “They know they need to attract capital to make it happen and they are focused on unlocking the opportunity. Our sector is taking notice.”
Reforms
Since taking office in December 2023, Argentinian President Javier Milei has taken steps to make the country more attractive for mining investment, primarily by pursuing deregulation, reducing inflation, and improving economic stability.
Last year, the Milei administration introduced the Incentive Regime for Large Investments, offering 30-year tax, trade, and foreign-exchange benefits for projects investing at least $200 million in sectors such as mining.
The reforms have attracted some large investments: In December, Rio Tinto (NYSE, LSE, RIO, ASX: RIO) announced a $2.5 billion investment to expand its Rincon lithium project. This development is expected to position the country as a leading lithium producer.
Canada’s First Quantum Minerals (TSX: FM) plans to invest $3.6 billion in the Taca Taca copper project in Salta province. If realized, this could elevate Argentina into the top 10 global copper producers.
Having abandoned attempts to acquire Anglo American (LSE: AAL), BHP is busy pivoting to organic growth. Up to $10 billion is being spent on Chile’s Escondida, the world’s largest copper mine, in which Rio Tinto has a 30% stake.
Urbanization and growing electrification are two of the reasons the use of critical minerals is projected to soar in the coming decades. Copper, for one, is facing a 70% increase in demand by the middle of the century, Henry said. Some $250 billion will be needed over the next five to 10 years to keep pace with the surging appetite for metals, BHP forecasts.
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Japan to give Mongolia $3.7 million grant aid for infrastructure www.mainichi.jp

Japan on Tuesday promised 545 million yen ($3.7 million) in grant aid to Mongolia to help improve the infrastructure of the strategically key nation sandwiched between China and Russia.
Foreign Minister Takeshi Iwaya and his Mongolian counterpart Batmunkh Battsetseg signed related documents after their talks in Tokyo, where they reaffirmed continued collaboration on the issue of Japanese abductees taken by North Korea in the 1970s and 1980s.
"It has become more important for Japan and Mongolia to step up cooperation as special strategic partners for peace and prosperity," Iwaya said at the meeting. Battsetseg called boosting relations with Japan "one of the top priorities" of her nation's foreign policy.
The Japanese Foreign Ministry said 275 million yen will be provided to deliver air pollution monitors, while 270 million yen will be earmarked for equipment to develop the sewerage system.
Japan has been beefing up defense and economic ties with Mongolia, a landlocked country heavily dependent on China and Russia in terms of trade and energy, in recent years.
Japan has decided to provide the Mongolian military an air traffic control radar system worth 1.3 billion yen in the first provision under Tokyo's "official security assistance" program launched in 2023 to support like-minded states.
Mongolia, which maintains a friendly relationship with North Korea, has served as a mediator over the abduction issue. Tokyo and Pyongyang have no diplomatic ties.

 

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The MongolZ Becomes the National Team of Mongolia www.montsame.mn

The MongolZ has officially become the National Team of Mongolia, allowing the Government of Mongolia to fully support the team and further develop esports in the country.
In recent years, The MongolZ has broken all Asian records in Counter-Strike 2 and is currently ranked 3rd in the world. The team is set to compete in the ESL Pro League Season 21 and other top-tier tournaments in Sweden, Denmark, the USA, Australia, Romania, and other countries.
Esports was introduced as a medal event in four categories at the 19th Asian Games Hangzhou 2022, held in Hangzhou, China, in 2023. At the 20th Asian Games Aichi-Nagoya 2026, to be held in Japan in 2026, the program will expand to include eight esports disciplines.

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UK-Mongolia Political Dialogue - Joint Statement www.gov.uk

Minister for the Indo-Pacific Catherine West, welcomed Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan to London for the 15th UK-Mongolia roundtable.
Joint Statement
British Parliamentary Under-Secretary of State for the Indo-Pacific, Minister Catherine West MP, welcomed Mongolian Deputy Prime Minister Amarsaikhan Sainbuyan to London on 26 February 2025 for the 15th UK-Mongolia roundtable, and the first annual political dialogue under the UK-Mongolia Joint Cooperation Roadmap towards a Comprehensive Partnership.
Minister West and DPM Amarsaikhan affirmed the strong partnership between the UK and Mongolia, grounded in shared democratic values, open societies, and a growing economic relationship.
Both sides noted deepening geopolitical tensions, stressed their commitment to upholding the principles of the UN Charter, and called on all countries to refrain from using force against the territorial integrity and political independence of any state. They agreed to continue to work closely to uphold international law and advance our shared principles.
Economic Growth
The Ministers confirmed that the UK and Mongolia will work together with a view to increasing the volume of trade and investment between the two countries – to drive mutual economic growth
They agreed to continue discussions with UK Export Finance to explore support for the construction of the metro system in Ulaanbaatar.
Talks also focused on facilitating trade and investment by working towards the removal of barriers to trade and red tape, and creating stable and transparent business environments.
Energy Transition
The Ministers stressed the urgency of action to address the impacts of climate change. They committed to achieving the UK and Mongolia’s NDC and welcomed the recent allocation from the NDC Partnership to Mongolia, including funding from the UK, to reach Mongolia’s climate goals.
They encouraged greater public-private partnerships to leverage public finance for private sector investment in line with both countries’ climate strategies.
They looked forward to Mongolia hosting COP17 on Desertification in 2026 and agreed to facilitate an exchange of experts to support preparations for and the outcome of COP17.
Women’s empowerment
The Ministers reaffirmed both countries’ commitment to gender equality and to expanding the number of women elected to both parliaments. Minister West welcomed the expanded number of female parliamentarians in the Mongolian parliament following elections in 2024, and commended Mongolia for its quota target of 40% of female candidates by 2028. DPM Amarsaikhan welcomed the UK achieving its highest level of female representation in the UK parliament following the 2024 UK general election.
The Ministers agreed to work together in multilateral fora ahead of the 30th anniversary of the “Beijing Declaration and Platform Action”.
Critical minerals
The Ministers agreed on the importance of extracting Mongolia’s mineral wealth in a manner that preserves Mongolia’s unique environmental legacy. They discussed the importance of responsible mining, and of high environmental, social and governance standards, as well as investing in Mongolian’s skills development.
In this regard, both sides expressed their commitment to cooperate within the framework of Memorandum of Understanding on critical minerals.
Education, Civil Society and People-to-people ties
The Ministers noted the strength of people-to-people ties between the UK and Mongolia, including the exchange of students through the Chevening Scholarship programme and “Mission 2100” scholarship programme initiated by the President of Mongolia.
Minister West reaffirmed the UK’s support for English language teaching in Mongolia and both ministers welcomed the progress in expanding English language provision. This could include building on existing partnerships with British companies to increase access to and improve the quality of English Language teaching, as well as supporting remote and disadvantaged communities with UK Overseas Development Assistance.
The Ministers agreed to explore possibilities to expand higher education opportunities for Mongolian students, including through the Chevening Scholarship, and to expand partnerships between universities.
They looked forward to the exhibition of the Arts of the Mongol World to be held at the Royal Academy in 2027, and welcomed expanding cultural cooperation.
They noted the important contribution that civil society organisations play in democratic societies, and committed to continue to engage with and seek inputs from civil society organisations representing a broad range of communities to strengthen democratic debate.
Minister West and DPM Amarsaikhan looked forward to and highlighted the importance of future high-level visits between the UK and Mongolia.
On the sidelines of the roundtable meeting, DPM Amarsaikhan held a bilateral meeting with Minister Gareth Thomas. During the meeting, the Ministers held constructive and fruitful discussions on further broadening the bilateral relationship in areas of mutual interest, including the promotion of trade and economic cooperation.
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Towards a Renewable Hydrogen Strategy for Mongolia (report) www.oecd.org

Thanks to its very high levels of solar irradiation and wind-power generation capacity, Mongolia has attracted interest from the private sector as a potential location to develop renewable hydrogen pilot projects. At the same time, the government has included the development of hydrogen production as an element of the energy pillar of its New Recovery Policy. Drawing on OECD experience and expertise in renewable hydrogen development and financing, this report aims at helping the government of Mongolia develop a vision for the potential role of this technology in its domestic agenda for decarbonising the economy. It identifies policy reforms and measures that will be needed to support such development.
While the competitiveness of any domestic industrial production requiring large economies of scale – such as renewable hydrogen – will depend on Mongolia’s ability to export such production, given the small size of its domestic markets, the existence of domestic demand for this technology will be critical to the success of a future national renewable hydrogen strategy . This is because early-stage development typically requires domestic offtake contracts, while the infrastructure needed for export will take years to develop. Mongolian industry remains in a very early stage of its own low-carbon transition. Within the industrial and investment policy framework, further and better incentives are needed to encourage firm-level investments in technology and infrastructure that can align future industrial output with emissions reduction objectives. Moreover, policy interventions will be required to foster technology transfer and innovation, while aligning on emerging international standards for the safe and sustainable production and trade of renewable hydrogen. Finally, de-risking investment and ensuring environmental sustainability will require the authorities to address the question of sustainable water usage for renewable hydrogen production . Beyond providing directions for a future national renewable hydrogen strategy, many of the recommendations provided in this report can help Mongolia align its investment and innovation policy frameworks with low-carbon development objectives which, in turn, is critical if the country is to reach its climate and economic goals.
 
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Courtesy Call on Prime Minister ISHIBA by H.E. Ms. Batmunkh BATTSETSEG, Minister for Foreign Affairs of Mongolia www.mofa.go.jp

On March 3, commencing at 6 p.m. Prime Minister ISHIBA Shigeru, received a courtesy call from H.E. Ms. Batmunkh BATTSETSEG, Minister for Foreign Affairs of Mongolia, during her visit to Japan as a guest of the Ministry of Foreign Affairs. The overview is as follows.
Prime Minister Ishiba stated that Mongolia is a “special strategic partner” with which Japan shares fundamental values and that he welcomed Foreign Minister BATTSETSEG's visit to Japan. Prime Minister Ishiba also expressed his intention to continue supporting Mongolia and further strengthen Japan-Mongolia relationships. While expressing gratitude for Japan's consistent support for Mongolia since the country's democratization in 1990, Minister BATTSETSEG stated that she would like to continue to work closely together to further deepen the relationships with Japan, which is the third neighboring country. Both sides also confirmed that they share a recognition of the important significance of the visit by Their Majesties the Emperor and Empress of Japan and would coordinate closely.
In addition, Prime Minister ISHIBA once again requested Mongolia's understanding and cooperation on the abductions issue and gained her support.
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Mongolians celebrate the Jubilee of Hope www.vaticannews.va

Cardinal Giorgio Marengo, Apostolic Prefect of Ulaanbaatar, Mongolia, shares how the central focus of Jubilee activities emphasizes formation and sharing with celebrations involving everyone.
On a day of intense cold, with temperatures plunging to 30 degrees celsius below zero, the extraordinary participation of the people warms the heart—and the soul.
On 29 December 2024, in Ulaanbaatar, the capital of Mongolia, the 2025 Jubilee opened with a solemn celebration that, even here in the farthest reaches of the world, could not be missed or overlooked.
The memory of that day remains vivid in the mind of Cardinal Giorgio Marengo, the Apostolic Prefect of this tiny Church community, which numbers around 1,600 baptized individuals out of a population of 3.2 million spread across a territory of more than 1.5 million square kilometers.
A grand procession
His detailed recollection, shared in an interview with Vatican News, helps reconstruct that day, which began with a grand procession that started outside the Cathedral dedicated to Saints Peter and Paul, the seat of the apostolic prefecture.
"We began from the great cross that was used during the papal Mass during Pope Francis' Apostolic Visit in September 2023," he said. "After praying part of the Rosary outside, we solemnly entered the Cathedral, looking towards the other crucifix that stands above our altar, to which we directed our gaze and our prayers. It was a very intense celebration that allowed our people to feel in communion with the universal Church."
The Word of God and formation
The celebration marked a culmination in preparations by the faithful of the Ulaanbaatar Apostolic Prefecture. There have been many opportunities for formation and in-depth reflection, one of which best encapsulated the need to exercise hope, the central theme of the Holy Year.
"It was the experience of communion and animation with Gen Rosso, the international group of artists who came to visit us between the end of November and the beginning of December. Together, we prepared workshops and a concert. The common thread of these activities was the concept we called 'hoping together,' which was also the theme of the papal visit nearly two years ago."
Preparing well for the Jubilee also meant rediscovering the history of a local Church that has roots in an ancient Christianity but, in contemporary times, boasts only thirty-three years of existence.
"This too has been an exercise in hope, wanting to accept the Jubilee invitation to look to the future with eyes full of faith, never discouraged," he said.
Renewal and rebirth
During the Holy Year, the formation of the faithful will be a constant focus of activities. Information and catechesis will be made available to everyone so that the deep meaning of the grace of the Jubilee can truly be appreciated.
"In this regard, we are also thinking about a pamphlet with explanations on how to obtain an indulgence, which will highlight the true meaning of the conversion journey that we are all trying to undertake here. A renewal that must start from the continual purification of our hearts."
What Cardinal Marengo values most in this context of faith is the dimension of charity, an essential condition for receiving the Jubilee grace.
"The works of mercy, offering our struggles and sufferings to the Lord, are not insignificant. Nor are the sacrifices that everyone can make to participate in our formation meetings, like the pastoral week we will have in May," he said.
Parish pilgrimages
Although it will be difficult, almost impossible, for the faithful from Mongolia to journey to Rome on pilgrimage—not only due to the vast distance but also because of the high travel costs—the Apostolic Prefect explains that "the graces of the Jubilee reach us where we are and are manifested in initiatives that relate to everyday life: prayer, caring for others, multiplying mercy as a concrete way to exercise hope."
But beyond the pilgrimage that the faithful can make to the Ulaanbaatar Cathedral, there is another that is especially close to the Cardinal's heart: one aimed particularly at young people, which will take place in the nine parishes of the Prefecture.
"Five of them are in the capital, four are spread across the country. We realized that, in many cases, the faithful of one parish don't know the other communities well. So we thought that, when the good weather comes, we could organize mutual visits."
And since the distance between one parish and another can be hundreds of kilometers, Cardinal Marengo has thought of a "Jubilee passport," especially for young people.
"It will be a sort of identity card with personal data that can be stamped each time someone visits a parish. I believe this is a really beautiful way to thank the Lord for the gift of these communities scattered across such a vast territory."
The gaze of Mary
In Ulaanbaatar, the Jubilee is unfolding under the loving gaze of the Mother of Heaven, a title Pope Francis gave to the statue of Mary, which was miraculously found a few years ago in a northern city's landfill by a non-Catholic woman and then enshrined in the Cathedral.
"This is why the Cathedral is increasingly playing a fundamental spiritual role for the faithful, who can go before this small wooden statue and entrust their lives to the Virgin Mary."
By Federico Piana

 

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Ban or Regulate? Mongolia’s Sports Betting Dilemma www.mongoliaweekly.org

Mongolia's government has launched a forceful campaign against online gambling and sports betting platforms, targeting the ubiquitous 1xbet. While cracking down on illegal operations and the alleged $500 million annual outflow is understandable, the move raises a fundamental question: Is prohibition the most effective long-term strategy? Or is it a costly, and ultimately futile, game of whack-a-mole?
The immediate actions – blocking websites, pressuring Meta to remove accounts, and contemplating a total ban on betting – are presented as a response to the "epidemic" of online gambling addiction and its devastating social consequences. These are genuine concerns.
The government is right to address the financial ruin and social disruption caused by problem gambling and sports betting.
However, Cabinet Secretary Nyam-Osoryn Uchral has also highlighted a critical economic dimension: the massive outflow of funds represents significant lost tax revenue.
This dual threat – social harm and economic damage – strengthens the argument for a regulated, rather than prohibited, gambling market. Experience globally demonstrates that outright bans rarely eradicate online activity. Determined users and operators find workarounds, such as VPN usage. 
The activity persists, driven underground or offshore, making it more difficult to monitor, control, and tax. 1xbet's continued presence in Mongolia, despite a previous Communications Regulatory Commission blacklist, is a stark reminder.

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Golden statue of Chinggis Khaan installed in Mongolia www.akipress.com

The opening ceremony of the Chinggis Khaan's Royal Chamberand the installation of his 7-meter golden statue took place at the Chinggis Khan National Museum in Ulaanbaatar.
The sketch and modeling of the statue took two years. They were approved at the end of 2022, embodying the ideas of historians, researchers and scientists.
The details of the monument were based on the artifacts of the khans and nobility of the Mongol Empire and other periods.
President Khurelsukh Ukhnaa emphasized in his speech that Chinggis Khaan is not just a historical figure, but a source of pride for all Mongols.

 

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China could restart import controls on coal as oversupply mounts www.bloomberg.com

China could reestablish import controls on coal, after leading industry groups warned on mounting oversupply in the world’s biggest market for the fuel, according to Morgan Stanley.
The bank said a complete ban is unlikely given China’s obligations to the World Trade Organization, but purchases could be discouraged if the authorities impose delays or inspections on imports, analysts including Sara Chan said in a note. Similar controls were imposed in 2014, 2017 and 2018.
China maintained a cap on coal imports of about 300 million tons until 2022, but has blown past that level in the last couple of years due to energy security concerns. The country bought a record 543 million tons last year.
Now, demand is falling well short of expectations, resulting in a rapid decline in prices and a continuous drop in mine profitability, the China Coal Transportation and Distribution Association and the China National Coal Association said on Friday. To cope with persistently high inventories of the fuel, miners should control output and importers should curb shipments of lower quality fuel, it said.
Beijing has prioritized coal production in recent years to avoid a repeat of the power crunch experienced in 2021, with Russia’s invasion of Ukraine in 2022 reinforcing the strategy. The policy has been successful in ensuring energy security but has come at the expense of progress on decarbonization and has led to a spate of fatal accidents at mines.
Surging output and tepid demand have weighed on the market in recent months. The country’s benchmark for thermal coal prices has dropped to 699 yuan a ton, its lowest level since March 2021, according to China Coal Resource.
Spot prices may soon test the market floor set by government-regulated annual contracts of 675 yuan a ton, local trading platform ocoal.com said in a note.
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