In the first four months of 2021, Mongolia traded with 129 countries from all over the world, and the total trade turnover reached USD 4.5 billion, of which USD 2.5 billion were exports and USD 2.0 billion were imports. The total foreign trade turnover increased by USD 1.5 billion (50.6%), where exports increased by USD 1.1 billion (81.8%) and imports increased by USD 374.9 million (23.6%) compared to the same period of previous year. In April 2021, exports reached USD 496.3 million, decreased by USD 169.6 million (25.5%) and imports reached USD 437.5 million, decreased by USD 163.9 million (27.2%) compared to the previous month.

The foreign trade balance was in surplus of USD 535.4 million in the first four months of 2021, compared with deficit of USD 212.7 million in the first 4 months of 2020. Trade with China reached USD 3.1 billion in the first 4 months of 2021, which is 68.7% of the total trade turnover.

Bituminous coal and copper concentrates accounted for 30.5% and 33.5% of total exports to China, respectively, and bituminous coal accounted for 95.0% of total export to Singapore, while gold accounted for 85.6% of total export to Republic of Korea.

In the first four months of 2021, USD 1.1 billion increase in exports from the previous year was resulted from USD 147.6 million increase in Iron ores and concentrates, USD 287.7 million increase in copper concentrates exports and USD 430.2 million increase in coal exports. In April 2021, USD 169.6 million decrease in exports was mainly due to coal exports volume reached 710.6 thousand tons and decreased by 1.5 million tons from 2.2 million tons in March 2021.

In the first four months of 2021, 38.3% of the total imports were from China, 27.5% -- from Russia, 7.1% -- from Japan, 4.1% -- from Republic of Korea and 3.4% -- from USA, which are accounting for 80.5% of the total imports. In the first 4 months of 2021, 51.3% of the total imports from Russia -- petroleum products, 67.2% of the total imports from Japan -- cars, and 5.8% of the total imports from China -- electricity, 16.5% -- trucks and 77.7% -- imports of other products. The USD 374.9 million increase in imports from the previous year was mainly due to USD 42.1 million increase in wheat, USD 97.6 million increase in trucks, USD 30.3 million increase in diesel and USD 19.1 million increase in cars.

Exports of mineral products, food products, and vegetable origin products made up 91.7 percent of the total export. On the other hand, 65.7 percent of the total imports were mineral products, machinery, equipment, electric appliances, transport vehicle and its spare parts and food products.

Source: National Statistics Office

May 16 (Xinhua) -- The COVID-19 cases in Mongolia increased by 541 over the past 24 hours to 48,642, with the death toll rising by two to 219, the country's health ministry said Sunday.

Meanwhile, 1,306 more recoveries were reported, bringing the nationwide count to 40,900, it said.

The Asian country launched a mass COVID-19 vaccination campaign in late February, aiming to cover at least 60 percent of its 3.3-million population.

More than 1,770,500 Mongolians have so far received their first dose, and over 641,000 have got both jabs. Enditem

Mongolia vaccinated 10,308 against COVID-19 for the past day.

The total nmber of people vaccinated against coronavirus infection reached 2,411,556.

1,770,527 received the first dose. 641,029 were administerd the second dose.

920,043 people in Ulaanbaatar received the first dose and 487,900 received the second dose.

850,484 were administered the first dose in aimags and 153,129 received the second dose.

Today, nine-tenths of the world's money is just numbers on a computer. In Mongolia alone, about seven percent of all money is stored in banknotes in cash and the remaining 93 percent in non-cash or digital format. We all know that digital money in people's accounts can be a means of payment, even if it is not real.

So what is the next evolution of digital money? More and more economists say that electronic algorithms based on cryptocurrency or blockchain technology will replace fiat currency soon. It has already started with more than 4,200 cryptocurrencies currently listed on CoinMarketCap, the largest crypto database platform globally. ArdCoin, a Mongolian loyalty reward project based on blockchain technology, has climbed to the top 500 of this list. The main reason for the project's success is that it has opened up numerous opportunities for Mongolians that were not feasible before. Such as:

● Listings on international crypto exchanges

● Ability to trade ArdCoin for fiat currencies such as MNT, USD, and other cryptocurrencies such as bitcoin, ethereum.

● Through ArdCoin, Mongolian nationals living abroad can access financial services from Mongolia

● Anyone can invest from anywhere in the world

ArdCoin opened up several new ways to earn alternative income and build wealth for many Mongolians. These came at the most fortunate time for many people, whose businesses had stagnated for a long time due to the Covid-19 pandemic. Furthermore, it is becoming increasingly clear that demand and value will increase as ArdCoin's liquidity and uses increase.

Also, ArdCoin is the most widely used blockchain-based loyalty program in the world. For example, Ard estimates that one in three Mongolians own ArdCoin.

On May 14, 2021, the working group held its first online meeting with the Singapore Cooperation Enterprise to study and develop proposals on the establishment, formation and financing of the Central Provident Fund.

The Mongolian side was represented by H.E. A.Ariunzaya, Working group leader, Minister for Labour and Social Protection, H.E. T.Lkhagvadorj, Ambassador of Mongolia to Singapore, N.Ankhbayar, State Secretary of the Ministry of Foreign Affairs, Kh.Batjargal, Director of the National Development Agency, B.Gunbold, Head of the Policy and Planning Department of the Ministry of Construction and Urban Development, A.Enkhjin, Director of Resource Management and Financial Markets Department, Bank of Mongolia, L.Sonor, Head of Financial Markets and Insurance Division, Financial Policy Department, Ministry of Finance, T.Tserenbadral, Deputy Chairman of the Financial Regulatory Commission, A.Khishigbayar, Director of Policy and Planning Department, B.Batjargal, Head of Social Insurance Division and Z.Khuslen, Head of Foreign Cooperation Division of the Ministry of Labour and Social Protection.

From the Singaporean side, Tan Poek, Director for Northeast Asia and the Middle East, and Eric Lee, Director for Southeast Asia, Central Asia and International Partnerships, Huey Khey Wong, Senior Manager and Zhang Yedi, Senior Manager, Middle East and North East Asia

of the Singapore Cooperation Enterprise attended the meeting.

At the beginning of the meeting, B.Gunbold, Director of the Policy and Planning Department of the Ministry of Construction and Urban Development, gave a brief presentation on the current situation and challenging issues of housing sector in Mongolia.

Moreover, H.E. A.Ariunzaya, Working group leader, Minister for Labour and Social Protection, emphasized that the main obstacle to the implementation of the public housing program in Mongolia is not the construction related process, but the financial situation. Therefore, it is vital to learn from the best practices of Singapore's Central Provident Fund system, in particular how it successfully finances healthcare, medical services, social security and public housing programs.

Mr. Tan Poek, Director for Northeast Asia and the Middle East of the Singapore Cooperation Enterprise, concluded: “The success of Singapore's Public housing program is not only to provide housing for most citizens, but also to provide an environment in which people can live, play and learn comfortably. Currently, 80 percent of the population has been successfully enrolled in the Housing Program. We are ready to share our best practices to Mongolia.”

For the first phase, the working group agreed to conduct an in-depth study of the current situation, requirements and target group of the housing sector in Mongolia in cooperation with the Singapore Cooperation Organization.

Source: Ministry of Labor and Social Protection

On May 13, Prime Minister L.Oyun-Erdene’s working visit continued to Selenge aimag.

He became acquainted with the intensified farming of ‘Gazar Agro’ LLC, sowing process at the irrigated field of ‘Arvin Khur’ LLC, and the field that is possible to be utilized for growing fruits and irrigated greenhouse cultivation and discussed the farmers’ pressing issues.

Due to the spread of the COVID-19 infection and its lockdown as well as colder weather in the region this year, the most common pressing issue for farmers have become spring sowing process being late by about a month.

The sowing started throughout the province from April 23. Farmers in Orkhon soum are currently faced with certain pressing matters, including the issue of increasing greenhouse production in winter and summer, establishing a vegetable storehouse equipped with a modern refrigeration system, and extending the repayment term of soft loans with an annual interest of 3 percent.

Spring sowing is currently at 3.5 percent. During the PM’s visit, he saw the operations of ‘Gazar Agro’ LLC, which is expanding its operations in animal husbandry field with aims of being resilient to the climate, preserving the gene fund of the local ‘Selenge’ cattle and improving it by breeding with the Hereford cattle, and supplying breeding bulls that meet corresponding standards to herders. They have set their goal as to prepare meat that meets international quality standards, fully supply the domestic market, and export their products in the future.

As for the company, ‘Arvin Khur’, they carry out irrigated farming on 4,000 hectares of land in Zuunburen soum.

With a special focus on sustainable development of farming, increasing the yield per hectare, reducing soil erosion, and regenerating soil, the company introduced a new farming technology without the use of fallow starting from 2012. As a result, the fields were entirely put into circulation, with the farming of wheat, oilseeds, buckwheat, and barley and an annual harvest of 4,000-5,000 tons.

As for the Okhindoi area of Zuunburen soum, an irrigation system is planned to be installed for a total of 2,760 hectares in the framework of a project on vegetable project and irrigated agriculture being implemented by the Ministry of Food, Agriculture, and Light Industry with funding from the Asian Development Bank and Japan Fund for Poverty Reduction.

While getting acquainted with the spring sowing progress and intensified farming operations, Prime Minister L.Oyun-Erdene highlighted that the Government will support Darkhan and Selenge in developing into an agricultural region to replace mining as the top industry through policy.

(14 May), the Mongolian Supreme Court decided to release the defendants in the S.Zorig murder case on bail; the case will now be returned to further investigation. The trial was held behind closed door.

The three defendants – B.Sodnomdarjaa, T.Chimgee and Ts.Amgalanbaatar – were sentenced to 24-25 years in prison for the murder of S.Zorig, who was one of the heroes of Mongolia’s peaceful transition to democracy and a likely future prime-minister.

The investigation has lasted for two decades – in which there have been accusations of cover-ups and during which numerous people, including the victim’s wife, have been detained.

However, B.Khurts, the controversial former director of Mongolian’s General Intelligence Agency (GIA) and former Attorney General G.Erdenebat were sentenced on July, 2020 to three years in prison for using torture to obtain confessions in the investigation of the murder of politician S.Zorig and others.

A Member of Mongolia’s Parliament, Ts.Anandbazar, has been suspended from the ruling party after being accused for sexual offences to no less than 1000 women! The claims, which include rape, have sparked outrage across the nation. Today (13 May), the Disciplinary Inspection Committee of the Mongolian People’s Party decided to temporary suspend Ts.Anandbazar from the party as well as from its parliamentary group pending investigation.

Ts.Anandbazar, who is also the well-known owner of the ‘Sod Mongol’ fuel importing group and the ‘Urgoo Cinemas’ chain, is accused by B.Sunderya and other women of sexual harassment and rape. According to B.Sunderya, some 1000 women claimed to be victims of the MP.

Since the rape claims were made, many Mongolians are boycotting Ts.Anandbazar’s business such as ‘Sod Mongol’ petrol stations and the MP’s cinemas.

Canada’s Centerra Gold (TSX: CG) initiated binding arbitration against the Government of the Kyrgyz Republic in a legal skirmish related to the company’s Kumtor mine.

In early May, lawmakers in Kyrgyzstan passed a bill allowing the state to seize Kumtor for up to three months. The decision was made under the argument that the mine – the largest gold operation in the Central Asian nation – may pose danger to locals and the environment.

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A few days later, on May 9, 2021, a district court imposed a $3.1 billion fine on Kumtor Gold Company, which is Centerra’s local unit in charge of running its namesake operation and which was found to have breached environmental laws by placing waste rock on glaciers, according to private civil environmental claims.

The Kyrgyz government also put before the court a series of tax claims that say that the Toronto-based miner owes more than $170 million. This, after the state Tax Service revived previously dismissed claims against Centerra.

The company, on the other hand, insists on the dismissal of such claims based on a number of agreements that were signed in 2009, which contained a specific tax and fiscal regime that contemplated that no taxes were payable by Kumtor Gold on intercompany transactions with Centerra, including dividends.

However, since Kyrgyzstan has insisted on its position, Centerra said it will seek to enjoin the government from taking further steps to implement the legislation to take over the mine or to pursue the fines and tax claims against the Kumtor Gold.

The Toronto-based miner said all of these recent measures violate the government’s investment agreements with respect to the Kumtor mine.

Centerra’s position

“The leadership of the Kyrgyz Republic has acted with astonishing speed since the beginning of this year to undermine the basis on which the Kumtor mine has been operated and has refused to engage with us on any matters it considers to be the subject of dispute,” Scott Perry, Centerra’s president and CEO, said in a media statement. ”The government’s actions have left Centerra no choice but to exercise our legal rights, through the pursuit of arbitration and otherwise, to protect the interests of KGC, Centerra and our shareholders. In the event the government wishes to engage in a constructive dialogue, we remain willing and available to do so.”

In the brief, Perry also says that the Kyrgyz Republic State Commission and other Kyrgyz Republic state and law enforcement authorities have been applying intimidation tactics against KGC’s personnel by performing police visits to the homes of several senior managers and a raid of KGC’s office in Bishkek on May 15.

IF BOTH PARTIES DON’T AGREE ON AN ARBITRATOR WITHIN 28 DAYS, CENTERRA WILL ASK THE PERMANENT COURT OF ARBITRATION AT THE HAGUE TO APPOINT AN ARBITRATOR

“This and other recent conduct by the government undermines the fundamental investment protections guaranteed to Centerra and its Kyrgyz Republic subsidiaries under the 2009 Restated Project Agreements governing the Kumtor Mine,” the release states. “Under the 2009 Restated Investment Agreement and the 2017 Strategic Agreement on Environmental Protection and Investment Promotion, Centerra’s claims will be adjudicated by a single arbitrator in arbitration proceedings to be held at Stockholm, Sweden and conducted under the rules of the United Nations Commission on International Trade Law. The parties have 28 days during which to agree on an arbitrator, failing which Centerra will ask the Permanent Court of Arbitration at The Hague to appoint an arbitrator. Under the agreements, the governing law is the law of the State of New York.”

The company’s brief also says that no assurances can be given that any of the current or future legal claims and other disputes that have arisen in relation to KGC or the Kumtor mine can be resolved without a material impact or potentially the loss of Centerra’s entire investment in the mine.

Kumtor produced more than 13.2 million ounces of gold between 1997 and the end of 2020. Last year’s output was slightly over 556,000 ounces and, based on Centerra’s numbers, the mine is the largest private-sector employer and taxpayer in the Kyrgyz Republic and the largest foreign investment in the country, having contributed 12.5% of Kyrgyz GDP in 2020.

Three resource giants, BHP (ASX, LON, NYSE: BHP), Rio Tinto (ASX, LON, NYSE: RIO), and Vale (NYSE: VALE), launched today the Charge On Innovation Challenge, a global competition for technology innovators to develop new concepts for large-scale haul truck electrification systems with the main goal of cutting emissions from surface mining operations.

In partnership with Australia’s mining equipment, technology and services industry body Austmine, this initiative is also expected to generate solutions that are capable of unlocking safety, productivity, and operational improvements.

According to the challenge’s founding patrons, current stationary charging systems require substantial time to charge large trucks, which results in significant lost productivity. Thus, the mining industry needs multi-megawatt scale fast charging concepts capable of delivering around 400kWh to charge and propel a truck within the truck’s haul cycle, which includes load, travel, dump, return, and queue.

The three companies believe it is possible to even reformulate existing diesel-electric equipment so that the implementation of longer-term solutions can be fast-tracked.

“The mining industry needs to be at the forefront of tackling the climate challenge. The Charge On Innovation Challenge is a great example of the current collaborative work being done by the mining industry and mobile equipment manufacturers to decarbonise mining fleets,” the fIrms said in a media statement. “In addition to providing a zero-carbon energy source, the conversion of mobile mining equipment to battery-electric can potentially unlock value, as electric motors have fewer moving parts when compared to standard equipment.”

BHP, Rio and Vale also said that they are convinced that a solution will be found to be able to deliver electricity to trucks in the complex operating environment of a large surface mine.

“We expect the Challenge will attract companies from a broad range of sectors including mining, automotive, aerospace, agriculture, and defence to deliver selected charging concepts to create a standard product that can interface with all trucks,” Austmine CEO Christine Gibbs Stewart said in the brief.

The three miners involved in the challenge are the world’s largest producers of iron ore. According to a recent report, energy intensity at hematite operation averages 0.15 GJ/t of iron ore, taking into account both diesel consumption in the mine and electricity production for processing plants.

In magnetite operations, on the other hand, total energy intensity from mining, processing and shipping adds up to 0.3 GJ/t of shipped ore.

Approximately 90% of the energy consumption was determined to be diesel consumption in mobile equipment.