1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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

NEWS

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Mongolia adds 1,019 new COVID-19 cases www.xinhuanet.com

Aug. 3 (Xinhua) -- Mongolia recorded 1,019 new COVID-19 cases in the past 24 hours, bringing its national tally to 167,229, the country's health ministry said Tuesday.
Meanwhile, four more deaths were reported, taking the countrywide death toll to 854.
A total of 7,195 samples were tested across Mongolia in the past day, and all the latest cases were locally transmitted, the ministry said.
The Asian country launched a nationwide COVID-19 vaccination campaign in late February, aiming to cover at least 60 percent of its population of 3.3 million.
So far, 67.2 percent of the country's total population have received their first vaccine dose while over 61 percent have been fully vaccinated.
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S&P reaffirms Mongolia's 'B' ratings with stable outlook www.montsame.mn

S&P Global Ratings announced on Thursday that it has maintained Mongolia's credit rating at 'B' and the outlook at 'stable'.
The following factors led S&P to keep the credit rating and the economic outlook unchanged:
-Mongolia's economy shrank by 5.4 percent in 2020 due to the negative impact of the pandemic. However, thanks to the global economic recovery and rising mineral prices in the international market, the country’s economy growth is expected to reach 6.7 percent in 2021 and 7 percent in 2022.
-Even though the spread of COVID-19 has been increasing in Mongolia since April of this year, the economic recovery will continue as the indicators related to the external sector, state budget and external debt are improving as compared with 2020. The recovery will be driven by factors such as Mongolia's level of vaccination, fiscal spending measures, and growth in mineral exports due to the global economic recovery.
-The level of vaccination in Mongolia is relatively higher than in other developing countries, which reduces the economic uncertainty caused by the pandemic. Two-thirds of Mongolia's population has received a single dose of the vaccine, and more than 60 percent have been fully vaccinated against COVID-19.
-Economic outlook in the medium term will be relatively favorable due to foreign direct investment in the mining sector. Economic growth due to foreign direct investment in the Tavan Tolgoi and Oyu Tolgoi mining projects will average 6.8 percent by 2024. Mongolia's economic growth is projected to be higher in the medium term than other similar countries in terms of GDP per capita.
-The Government of Mongolia has successfully reduced some of its high external debt risk by successfully attracting concessional foreign financing. For example, the share of Mongolia's total external debt in the current account will reach 181 percent in 2020, increasing from the 2019 level, but will decrease to 159 percent in 2021.
-The Bank of Mongolia successfully extended the CNY 15 billion swap agreement with the People's Bank of China in August 2020 until 2023, which has reduced the pressure on foreign exchange reserves.
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Global copper supply at risk as workers vote to strike www.bloomberg.com

A tightening global copper market is facing the real possibility of simultaneous strike disruptions at three mines in Chile, the top producer.
By far the most serious threat to global supplies comes from Escondida, the biggest copper mine in the world, where workers rejected owner BHP Group’s final wage offer in voting last week. Unless the two sides can reach a deal in government-mediated talks this week, the market may be left without production from a project that last year churned out 1.2 million metric tonnes.
Two other smaller mines — Codelco’s Andina and JX Nippon Mining & Metals’ Caserones — are at the same stage in their collective bargaining. That puts upwards of 7% of world production at risk in a particularly sensitive moment in the metal cycle and in Chilean politics.
Labor tensions are intensifying just as trillions of dollars in government stimulus fuel demand for industrial metals. Copper futures have gained over the past two weeks after retreating from an all-time high in May.
THE WINDFALL ENJOYED BY PRODUCERS IS EMBOLDENING MINE WORKERS, WITH HOST NATIONS ALSO LOOKING AT RATCHETING UP TAXES TO HELP RESOLVE INEQUALITIES EXACERBATED BY THE PANDEMIC
On Monday, prices advanced as much as 0.8% to $9,810 a tonne on the LME, and traded at $9,771.50 at 1:37 p.m. in London.
The windfall enjoyed by producers is emboldening mine workers, with host nations also looking at ratcheting up taxes to help resolve inequalities exacerbated by the pandemic. In Chile, that’s all playing out as the nation drafts a new constitution that may lead to tougher rules on water, glaciers, mineral and community rights, with presidential elections in November.
At the same time, companies are striving to keep labor costs in check in a cyclical business and as ore quality deteriorates and input prices start to rise.
In last week’s vote, members rejected BHP’s proposal by an overwhelming 99.5%. Union leaders say the company is dangling large one-time bonuses in exchange for longer hours and new demands in a bid to boost productivity and profit. BHP said its proposal included better conditions and new benefits and that it remains open to dialog.
“We hope that this strong vote will be the decisive wake-up call for BHP to initiate substantive discussions to reach satisfactory agreements, if it wants to avoid a lengthy conflict that could be the costliest in the country’s union history,” the union said.
(By James Attwood, with assistance from Alejandra Salgado)
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APU becomes first Mongolian company with MNT 1 trillion worth of market capitalization www.montsame.mn

APU JSC, listed in ‘Classification I’ of the Mongolian Stock Exchange, became the first Mongolian company with MNT 1 trillion worth of market capitalization in the history of the Mongolian stock market.
The market capitalization of the company's securities reached MNT 1,009,315,777,973.36.
APU JSC's shares, listed on the Mongolian Stock Exchange in 1992, were initially traded on the secondary market on September 11, 1995 for MNT 101.
At the time, the market value was estimated at MNT 75 million, which grew to become MNT 1 trillion 26 years later. “This has been an event that demonstrated efficiency of the stock market not only to its over 9,000 shareholders, but also to the public,” reported the Mongolian Stock Exchange.
Established in 1924, APU JSC is one of the leading beverages producer in Mongolia.
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Japan to provide JPY 883 million as non-refundable aid www.montsame.mn

The Government of Japan has resolved to provide non-refundable aid of JPY 883 million to support Mongolia’s effort to eliminate COVID-19 crisis.
Within the framework of the non-refundable aid, medical equipment for early detection of disease, devices for sequencing mutated genes and cold-chain equipment such as refrigerated vehicles.
The letters of exchange between the two governments regarding the assistance has been signed by Minister of Finance of Mongolia B.Javkhlan and Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia Kobayashi Hiroyuki.
The non-refundable aid will have a significant impact on Mongolia’s effort to fight the pandemic and accelerate its vaccination rollout.
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(UPDATE) MineClosure2021 welcomes Profile Products LLC (USA) as an Exhibitor, group delegation from BHP Australia, South32 (AUS), participants of Kumtor Gold (Kyrgyzstan) and Agreenco Environmental projects (South Africa) www.mongolianbusinessdatabase.com

The new exhibitor Profile Product LLC is based in Buffalo Grove, Illinois manufactures and distributes proven solutions that help you thrive in a competitive environment while enhancing the natural environment of the sites you serve. It’s our mission to consistently help our customers establish sustainable green space through water and soil management and plant establishment.
Visit https://mineclosure2021.com for an agenda of the conference and information in detail.
Contact us via phone: (+976) 99066062, 99119657, Email: mineclosure2021@qmc.mn for inquiries.
The Premium Sponsor: Rio Tinto
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China engages Mongolia in flurry of talks in wake of US envoy Wendy Sherman www.scmp.com

China has been trying to forge closer ties with Mongolia, holding a series of high-level exchanges between Beijing and Ulaanbaatar in recent weeks as US engagement in the region grows.
The latest effort was a foreign ministerial level meeting in Tianjin last Tuesday held at China’s invitation. The meeting came the day after Chinese Foreign Minister Wang Yi met US deputy secretary of state Wendy Sherman, who stopped in Mongolia before meeting Wang.
Mongolia’s foreign ministry said China promised to invest in major mining, energy, agriculture, infrastructure and environment protection projects, with the aim of increasing bilateral trade to US$10 billion.
The two countries also said they would work together on pandemic control and regional security.
“Mongolia fully understands the important concerns China has over sensitive issues. Mongolia will continue with friendly policies with China, and will not participate in any mechanisms that target specific countries,” the Chinese foreign ministry said.
According to the Chinese ministry, Mongolia does not support politicisation of the search for the origins of the coronavirus, will not let any Tibet-related issues affect bilateral relations, and supports China’s hosting of the 2022 Winter Olympics.
The day before Sherman arrived in Mongolia, Chinese President Xi Jinping spoke by phone with Mongolian President Ukhnaagiin Khurelsukh.
Xi said the countries shared an increasing number of common interests, and called for the China-Mongolia relationship to be strengthened by mutual respect for sovereignty and territorial integrity, adding a promise that China would buy more of its neighbour’s products.
Mongolia has called the US its “third neighbour” and “strategic partner”, and vowed to strengthen the “friendly relationship”.
After Sherman’s trip to Mongolia, Chinese Defence Minister Wei Fenghe and his Mongolian counterpart Gursed Saikhanbayar also met in Ulaanbaatar, pledging to work together on regional security.
China offers Mongolia helping hand to fight sandstorm challenge
8 Apr 2021
Chinese experts said Washington’s renewed efforts in the region meant Mongolia would have to balance its relations with the two powers.
Shi Yinhong, a foreign policy scholar from Renmin University, said that while the meeting between the Chinese and Mongolian foreign ministers could be in the interest of diminishing Sherman’s visit to Mongolia, Mongolia had traditionally been more wary of China than of Western countries like the US and Japan.
“Despite its economic ties with China, Mongolia is likely to remain wary, especially in areas of security, the economy and also in culture, religion and language,” Shi said, adding that Mongolia had not been a priority in China’s neighbourhood policies.
According to a document released by former US national security adviser Robert O’Brien this year, Mongolia has strategic significance to the US in advancing the Indo-Pacific region.
Washington wants Mongolia to “demonstrate [its] own success and the benefits [it] has accrued” through upholding democratic values.
Qi Huaigao, professor at the Institute of International Studies at Fudan University, said that while Mongolia was actively building its relationships with its “third neighbour” countries, especially the US, it remained very cautious not to pick a side between China and the US.
“Apart from building relations with its two immediate neighbours China and Russia, Mongolia is promoting a third neighbour policy to strengthen relations with countries and international organisations like the US, EU and Japan, South Korea, to extend its international space,” Qi said, “Mongolia may be a small country, but it has lofty diplomatic ambitions.
“But Mongolia is very cautious. It will not choose sides between China and Russia, and the United States.”
BY: Kinling Lo,
Kinling Lo is a China reporter covering diplomacy and society news for the Post. She joined the team in 2016 as a cadet reporter.
AND
Amber Wang is a reporter for the China desk, and focuses on Chinese politics and diplomacy. She joined the Post in 2021, and previously worked for The New York Times and Southern Metropolis Daily.
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Goldman recapitulates $5 a pound copper price by end of 2021 www.mining.com

In a new research note, Goldman Sachs says the copper price is “poised for the next leg higher” as short term headwinds fade and fundamentals point to a significant demand boost further out.
Goldman says the copper concentrate market remains very tight, creating a bottleneck for primary metal production in China, reinforcing its projection for a significant 430,000 tonne refined deficit in the second half of the year.
Goldman projects a 200,000 tonne deficit next year, and also halved its projected surplus for 2023 to 129,000 tonnes “after which open-ended deficits start”.
Treatment and refining charges (TC/RCs) paid by miners to smelters to process concentrate into refined metal rise when supply is ample and fall when smelters are forced to compete for scarce material.
“…WITH A FINITE AMOUNT OF STRATEGIC RESERVES, POLICYMAKERS ARE SIMPLY RAISING RIGHT TAIL PRICE RISKS, PARTICULARLY AS WE EXPECT THE BULL MARKET TO BE SUSTAINED ON A MULTI-YEAR BASIS IMPLYING A DEPLETION RISK ON THIS STOCK SOURCE”
Goldman Sachs
While TC/RCs have risen to around $45 a tonne in July from historically low levels of just over $20 a tonne in April, today’s charges still compare to more than $70 a tonne in June last year and spikes as high as $130 in the 2010s.
Gone in 36 hours
Chinese headwinds are receding and demand in the rest of the world is robust, evidenced by premiums for physical copper in the US rising to five year highs.
Goldman believes the copper market has now moved beyond Beijing’s attempts to cool prices and the impact of sales from the country’s strategic reserves – the “final tool for generating downward price pressure (short of slowing overall activity)” – in fact creates conditions for price rises down the line:
“…with a finite amount of strategic reserves, policymakers are simply raising right tail price risks, particularly as we expect the bull market to be sustained on a multi-year basis implying a depletion risk on this stock source.”
Besides, as Goldman points out, Beijing’s first batch of copper on auction of 50,000 tonnes amounts to just 36 hours of Chinese copper consumption.
Start your motors
Goldman also upgraded its longer-term outlook for copper based on a significant lift in electric vehicle sales over the next ten years.
The EU recently put forward even tighter emissions standards – 55% reduction by 2030 and a ban on sales of gas-powered vehicles by 2035.
Click here for an interactive chart of copper prices
That, coupled with higher EV sales in China boosted by the popularity of cheaper LFP battery-powered cars, lifted analysts’ predictions of EV sales by 30% or three million more units by 2025. By 2030 EV sales would reach 32 million a year, versus a tenth of that last year.
Goldman now expects average annual additional copper demand coming from EVs of ~200kt in the next ten years, translating to green copper demand of 2.7 million tonnes in 2025 and 5.8 million tonnes in 2030 – accounting for 18% of global copper demand.
Spec positioning cleansed
Another factor priming copper for a move higher soon is a 75% drop in net long positioning (bets that the copper would be more expensive in future) in the US from its peak in December and, a 30% decline in open interest in Shanghai creating a re-entry point for bulls.
In the report Goldman reiterated its bullish forecast for a copper price of $11,000 a tonne (just below $5 per pound) by the end of the year and $11,500 by this time next year.
On Friday in New York copper was trending weaker with September futures down 1% to $4.48 a pound or $9,875 a tonne, implying a double digit percentage move higher if forecasts are met.
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Zoom settles 'zoombombing' and data privacy lawsuit for $85 million www.cnn.com

New York (CNN Business)Zoom Video Communications agreed to pay $85 million in a preliminary lawsuit settlement filed Saturday afternoon. The deal is in response to a class action lawsuit over users' concerns over the company allegedly having shared personal data with Facebook (FB), Google and LinkedIn as well as instances of "zoombombing," when an unwanted hacker joins a call.
The FBI issued a warning against "zoombombing" in March 2020, citing examples of users entering meetings or virtual classrooms to shout profanities and share pornography. The FBI urged victims of "teleconference hijacking" to report any incidents to the agency.
The video conferencing company has agreed to more than a dozen "major changes to its practices, designed to improve meeting security, bolster privacy disclosures, and safeguard consumer data," according to the settlement documents.
These changes are expected to include "in-meeting notifications to make it easier for users to understand who can see, save, and share Zoom users' information" and "alerting users when a meeting host or another participant uses a third-party application during a meeting."
"The privacy and security of our users are top priorities for Zoom, and we take seriously the trust our users place in us," a spokesperson for the company told CNN Business. "We are proud of the advancements we have made to our platform, and look forward to continuing to innovate with privacy and security at the forefront," the spokesperson added.
Paid subscribers in the class action lawsuit are eligible for 15% refunds on their Zoom core subscriptions, or $25 — whichever amount is larger — and other Zoom users could be eligible for up to $15, according to the settlement.
Zoom collected approximately $1.3 billion in subscriptions from the class action participants who paid for a subscription, according to settlement documents.
The deal requires approval from US District Judge Lucy Koh in San Jose, California, to be finalized.
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Tokyo reports 2,195 new cases of coronavirus www.nhk.or.jp

The Tokyo Metropolitan Government says it confirmed 2,195 new coronavirus infections in the capital on Monday, 766 more than a week ago.
It is the highest tally for a Monday since the pandemic began last year.
People in their 20s and 30s make up the majority of cases, at 773 and 520 respectively.
The seven-day average number of cases through Monday is 3,214. That is more than two times the figure from a week ago.
The total number of cases in the capital now stands at 223,221.
Tokyo officials say that 114 patients are in serious condition.
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