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    

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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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Central bank decides to maintain policy rate at 6 percent www.montsame.mn

The Monetary Policy Committee (MPC) of the Bank of Mongolia held a scheduled meeting on September 16, 2021. With due consideration to the current state of the economy and financial markets, as well as to future outlook and risks inherent in domestic and foreign environments, the MPC decided to:
1. Keep the policy rate at 6 percent;
2. Increase the amount of long-term repo financing instrument by up to MNT 100 billion in the fourth quarter of this year.
Annual headline inflation stands at 8.9 percent nationwide and 9.1 percent in Ulaanbaatar city as of August 2021. Inflation is rising due to the economic recovery, but most of it is due to the base effects and temporary supply-related factors. As a result of latter, the headline inflation is expected to temporarily increase, however, it will stabilize around the central bank’s target level in 2022. However, due to the global economic recovery, international supply chains and logistics disruptions, there is a risk that external inflation and world food and fuel prices will exceed expectations, and that supply-side inflation in the domestic market will increase.
Global economic growth has accelerated and the prices of most exports have remained high, but the positive effects have been less than expected. The spread of new variants of the coronavirus around the world, reducing the effectiveness of vaccinations and increasing caution, are creating uncertainty caused by the pandemic in the external and internal economic environment.
In times of pandemic, the central bank's monetary and macroeconomic policies and fiscal stimulus measures are supporting economic recovery and financial sector stability.
The current monetary policy stance is in line with the inflation target of the central bank. The policy adjustments aiming to maintain inflation under its target range shall be taken place inconsistent with the economic recovery and outlook.
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Iron ore price collapses below $100 as China extends environment curbs www.mining.com

The iron ore price sank below $100 a tonne on Friday for the first time since July 2020, as China’s moves to clean up its heavy-polluting industrial sector spurred a swift and brutal collapse.
The Ministry of Ecology and Environment said in a draft guideline on Thursday that it planned to involve 64 regions under key monitoring during winter air pollution campaign.
The regulator said steel mills in those regions would be urged to cut production based on their emission levels during the campaign from October until the end of March.
“Stringent production controls have driven market prices lower recently, and pessimistic outlook for demand have intensified,” analysts with SinoSteel Futures wrote in a note.
Prices have more than halved since peaking in May as the world’s biggest steelmaker intensifies production curbs to meet a target for lower volumes this year, and a sharp downturn in China’s property sector impacts demand.
Iron ore’s slump makes it one of the worst-performing major commodities and a notable outlier in a broader boom that’s seen aluminum soar to a 13-year high, gas prices jump and coal futures surge to unprecedented levels.
Iron ore futures have slumped more than 20% this week and were trading at $99.55 a tonne Friday morning in New York.
The decline “has played out faster than expected,”, said UBS Group AG. UBS predicts prices will average $89 next year, a 12% cut to its previous forecast.
Iron ore producers Rio Tinto Group, BHP Group, Vale SA and Fortescue Metals Group Ltd. have seen their shares tumble.
Meanwhile, steel prices are still elevated. The market remains tight of supplies as China’s production cuts significantly outpace declining demand, according to Citigroup Inc.
Spot rebar is near the highest since May, albeit 12% below that month’s high, and nationwide inventories have shrunk for eight weeks.
China has repeatedly urged steel mills to reduce output this year to curb carbon emissions. Now, winter curbs are looming to ensure blue skies for the Winter Olympics.
(With files from Reuters and Bloomberg)
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Mongolia adds 3,234 new COVID-19 cases www.xinhuanet.com

Sept. 16 (Xinhua) -- Mongolia on Thursday confirmed 3,234 new COVID-19 cases in the last 24 hours, taking the national tally to 266,680, its health ministry said.
Meanwhile, eight deaths were reported, taking the nationwide death toll to 1,074.
The Asian country launched a national COVID-19 vaccination campaign in late February, aiming to cover at least 60 percent of its population. So far, more than 65 percent of its population have received two doses.
The health ministry is urging the public to receive booster or third doses of the vaccine as the highly contagious Delta variant of the virus is spreading fast across the country.
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President grants credentials to newly appointed ambassadors www.montsame.mn

September 15, President U.Khurelsukh presented the Letters of Credence to the newly appointed ambassadors of Mongolia to the Republic of Belarus, Federal Republic of Germany, Kazakhstan, and the Republic of Turkey.
At the event, President U. Khurelsukh requested the ambassadors to work in a disciplined and orderly manner for raising the reputation of the country and respecting the national interest of Mongolia.
The President also instructed the ambassadors to put more efforts into protecting the interest of Mongolian nationals, especially preventing them from being involved in crime, inheriting and disseminating the Mongolian language, history, culture, and traditions, promoting Mongolia in the country they stationed, as well as attracting investment.
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Mongolia demands ‘more transparency, more visibility’ from Rio Tinto www.afr.com

London | The Mongolian government has demanded “more transparency, more visibility” from Rio Tinto over the Oyu Tolgoi copper mine, following an independent review that last month blamed management failures for missed deadlines and cost blowouts.
Mongolian ministers and officials are in London to discuss the mine with the British government, and are understood to be planning a visit to Canberra early next year, as they seek to put pressure on the dual-listed UK-Australian mining giant to come clean about the problems and resolve them.
The $US6.75 billion ($9.2 billion) mine is running almost two years behind schedule and is $US1.45 billion more expensive than its original $US5.3 billion budget, which Rio previously ascribed to more difficult than expected geology.
But an independent review, forced on Rio Tinto by minority shareholders and released last month, suggested that the primary issue was weak project management.
Deputy cabinet secretary Solongoo Bayarsaikhan, who is visiting London with deputy foreign minister Munkhjin Batsumber, said the review had reached “quite different conclusions compared to what Rio Tinto told us so far”.
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“Obviously we appreciate the complexity of the project, we think it’s quite an undertaking to build this huge project in Mongolia,” she said.
“We need to have very honest conversations with Rio Tinto about why there are delays, why there are certain issues, and why there are certain claims made about why there are delays.”
She said the government was “carefully reviewing” the independent report, and wanted “more transparency and more visibility over the project”.
The two sides needed to “create a stronger partnership based on mutual trust and mutual respect”.
The Mongolian government is trying to tread a fine line between holding Rio Tinto to account for the problems at the mine, without developing a reputation as a difficult government for foreign investors to deal with.
Ms Bayarsaikhan was careful to praise Rio Tinto’s presence in Mongolia, and said she hoped that “in the near future we will come to a mutually beneficial solution based on the best interests of the project”.
“It’s challenging but we will get there. We are very much focused on resolving the issues, rather than having positional fights and disagreements,” she said.
The Mongolians also have to move at a pace that allows other developments in the Oyu Tolgoi story to unfold.
Turquoise Hill Resources, which is 50.79 per cent owned by Rio Tinto and which owns 66 per cent of Oyu Tolgoi. The other one-third stake in the mine belongs to the Mongolian government. A judgment is that case could be imminent.
There is also the potential for regulatory investigation as to whether Rio Tinto made full and accurate disclosures to the market about problems at the mine.
These issues could affect the balance of negotiating strength between the company and government, and the amount of compensation that might be offered or demanded.
BY: Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
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Petro Matad posts loss; eyes Mongolia oil production in second half of 2022 www.stockmarketwire.com

Oil company Petro Matad posted a first-half loss as it continued to develop prospects in Mongolia.
Pre-tax losses for the six months through June amounted to $1.02 million, compared to year-on-year losses of $2.35 million.
Petro Matad had in July raised about $10 million to fund a development work programme designed to bring oil production on stream during the second half of 2022.
'Petro Matad plans to generate revenue from early production as soon as possible and is working to secure the necessary contracts that will allow this production to get to market,' it said.
'The ompany continues to manage its costs closely and will maintain a small, focused workforce retaining all of the operational capabilities and experience gained from many years of successful operations in Mongolia.'
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Administration of booster shot to be accelerated www.montsame.mn

At the Cabinet’s regular meeting on September 15, Minister of Health S.Enkhbold gave updates on the COVID-19 situation and ongoing response measures, emphasizing the necessity of monitoring businesses’ compliance with their responsibility agreements. As the number of infections grows, caseloads are increasing and hospitals are running out of bed, said the minister.
Prime Minister L.Oyun-Erdene ordered Minister S.Enkhbold and Governor of the capital city and Mayor of Ulaanbaatar D.Sumiyabazar to increase the hospital beds and to improve patient flow at hospitals.
In the past 24 hours, 10 people died from COVID-19. 20,702 COVID-19 patients are receiving treatment at 62 institutions in Ulaanbaatar and 21 aimags. Of the patients, 62.7 percent is in mild, 27.6 percent in moderate, 8.1 percent in severe, and 1.5 in critical condition. The Prime Minister gave instructions to take measures to prevent COVID-19 deaths.
Mongolia’s vaccination rate has reached 65 percent and 212 thousand people have received the third dose. The Prime Minister stressed the importance of giving increased focus to administering the booster dose to 60 percent of the target group by the end of the year and increasing the number of vaccination sites and gave an order to bar government organizations from organizing public events and conferences.
 
 
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China faces shortages as Mongolian coking coal delivery disrupted www.news.mn

China is seen falling short of 50 million tonnes of metallurgical coal in 2021 amid rising domestic coking output capacity, sources said 15 September.
In 2021, the country is seen retiring 28.92 million tonnes of old coking output capacity, and adding 58.575 million tonnes of new coking production capacity, which translates to a net 29.655 million tonnes increase in coking capacity this year, latest data by China Securities International, or CSI, showed.
China is expected to see a wide deficit for met coal supply in 2021, according to Shenzhen-based brokerage Guotai Junan Securities. This comes at a time when China is vigorously putting effort at dual control of energy consumption and energy intensity, capping production of its high energy consuming domestic steel sector.
The domestic met coal sector is finding it difficult to release back output capacity that are on hold due to environmental controls, while import restrictions play a role in propping up met coal prices.
On the import side, recent COVID-19 cases have often led to the shutdown of Ganqimaodu port in Inner Mongolia, which has restricted the inflow of Mongolian met coal imports. Since August, some coal truck drivers were tested positive for COVID-19 at Ganqimaodu, disrupting truck movements at customs clearance.
Ganqimaodu, a land border port, is the largest channel for importing coal from Mongolia. (S&P Global)
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245 schools closed in Mongolia after covid-19 cases detected www.news.mn

A total of 245 schools are being closed after covid-19 cases are detected as Mongolian Government decides to keep facilities open to in-person learning. The closures affect more than 43 thousand pupils who are now taking online classes from home.
Furthermore, over 31 thousand students and 2078 teachers are being quarantined after coming in contact with someone who was COVID-positive.
According to Ministry of Education and Science, over 90 percent of teachers and students above age 12 have vaccinated against covid-19.
Each child in Mongolia must attend school for 165-180 days. However, due to the pandemic, pupils received only classes for 80 days in 2020; this has resulted in 70-80 percent of students falling seriously behind. Furthermore, 174 thousand students failed to learn in online classes due to there being no internet, smartphones or televisions.
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EBRD celebrates 15 years in Mongolia www.ebrd.com

This week the European Bank for Reconstruction and Development (EBRD) marks 15 years since the start of its operations in Mongolia and establishment of its resident office in Ulaanbaatar. During this time the EBRD has invested US$ 2.1 billion in various sectors of the national economy. Ninety-three per cent of the Bank’s loans were extended to private companies, making the EBRD the largest lender to Mongolia’s private sector out of the international financial institutions (IFIs).
In Mongolia the EBRD is helping to promote the country’s resilience by supporting non-extractive sectors of the economy, providing better access to finance and improving energy supply. The Bank is also working to improve the sustainability of infrastructure services through greater efficiency, commercialisation and green technologies.
After providing its first loan to XacBank in 2006, the EBRD significantly expanded its work with local financial institutions such as Khan Bank, XacBank (including its subsidiary XacLeasing) and Transcapital through its Trade Facilitation Programme, small and medium-sized enterprise (SME) and energy efficiency lending facilities and risk-sharing schemes. To date, almost 190,000 loans worth more than US$ 535 million of EBRD funds have been provided to local micro and small businesses.
In early 2021 the EBRD and the Bank of Mongolia set up a long-term dollar-tugrik (MNT) swap facility to increase the availability of local currency financing to Mongolian businesses affected by the coronavirus pandemic. The swap helped the EBRD secure reliable access to MNT liquidity and to provide local currency loans both directly and through local banks to companies in such sectors as agribusiness, building materials, light manufacturing and services, as well as to SMEs which employ over 40 per cent of the country’s population.
A lot has been done to promote sustainable infrastructure and green municipal solutions, both in the country’s capital Ulaanbaatar and beyond. The city, with a population of 1.4 million, became the first municipality in Asia to join the EBRD’s Green Cities programme and is now addressing environmental and infrastructure challenges. As part of the Ulaanbaatar Green City Action Plan, the city is improving its waste management. This work is supported by the Republic of Korea and the European Union (EU).
A major step towards improved regional integration and international trade between Mongolia, China and Russia is the reconstruction of a 202-km road between Mongolia’s capital and Darkhan, the third-largest city in Mongolia and 100 km south of the border with Russia.
The promotion of renewable energy is another area where the Bank has been active in Mongolia. The EBRD has financially supported the construction of the Sainshand, Salkhit and Tsogttsetsii wind farms. These facilities are today helping to reduce the country’s carbon emissions and provide a better energy mix.
Mongolia’s mining sector is a major contributor to the national GDP. The EBRD has been working with international and local mining companies such as Rio Tinto, Energy Resources, Kincora Copper and Erdene Resource Development to promote sustainable mining in line with best international corporate and environmental standards.
The Bank’s efforts to support non-extractive industries in Mongolia gave a major boost to local agribusiness producers such as the juice manufacturer Vitafit, beverage producers APU and MCS, the food producer Teso Group and the country’s leading dairy company Suu Milk. With the help of the EBRD, Suu Milk is renewing its transport fleet, serving more than 2,500 nomadic herders across Mongolia.
For 15 years the Bank has also been supporting the country’s traditional industries such as the production of cashmere with loans to the local manufacturers Gobi and Ezio Foradori. The cashmere sector is one of Mongolia’s key industries; the country is the largest supplier of cashmere wool in the world, accounting for 30 per cent of global production.
EBRD funds have also helped to develop other modern production facilities for clients such as Mongolia’s leading pharmaceutical conglomerate Monos Group and the leading local logistics company Terra Express.
Almost 600 micro, small and medium-sized enterprises in Mongolia, including those in remote rural areas, have participated in various advisory projects supported by the EU and implemented by the EBRD. More than half of them are women-led businesses. These projects have helped create almost 5,000 new jobs, increased their efficiency and productivity and widened product range.
Hannes Takacs, EBRD Head of Mongolia, said: “The EBRD is very proud to have contributed to the development of so many good projects in Mongolia. Our work of making the country’s economy greener, more diversified, sustainable, inclusive and digital, is far from complete. These are the challenges we look forward to tackling.”
To date, the EBRD has invested more than US$ 1.85 billion in Mongolia’s economy through 116 projects.
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