1 MONGOLIA MARKS CENTENNIAL WITH A NEW COURSE FOR CHANGE WWW.EASTASIAFORUM.ORG PUBLISHED:2024/12/20      2 E-MART OPENS FIFTH STORE IN ULAANBAATAR, MONGOLIA, TARGETING K-FOOD CRAZE WWW.BIZ.CHOSUN.COM PUBLISHED:2024/12/20      3 JAPAN AND MONGOLIA FORGE HISTORIC DEFENSE PACT UNDER THIRD NEIGHBOR STRATEGY WWW.ARMYRECOGNITION.COM  PUBLISHED:2024/12/20      4 CENTRAL BANK LOWERS ECONOMIC GROWTH FORECAST TO 5.2% WWW.UBPOST.MN PUBLISHED:2024/12/20      5 L. OYUN-ERDENE: EVERY CITIZEN WILL RECEIVE 350,000 MNT IN DIVIDENDS WWW.GOGO.MN PUBLISHED:2024/12/20      6 THE BILL TO ELIMINATE THE QUOTA FOR FOREIGN WORKERS IN MONGOLIA HAS BEEN SUBMITTED WWW.GOGO.MN PUBLISHED:2024/12/20      7 THE SECOND NATIONAL ONCOLOGY CENTER TO BE CONSTRUCTED IN ULAANBAATAR WWW.MONTSAME.MN PUBLISHED:2024/12/20      8 GREEN BOND ISSUED FOR WASTE RECYCLING WWW.MONTSAME.MN PUBLISHED:2024/12/19      9 BAGANUUR 50 MW BATTERY STORAGE POWER STATION SUPPLIES ENERGY TO CENTRAL SYSTEM WWW.MONTSAME.MN PUBLISHED:2024/12/19      10 THE PENSION AMOUNT INCREASED BY SIX PERCENT WWW.GOGO.MN PUBLISHED:2024/12/19      КОКС ХИМИЙН ҮЙЛДВЭРИЙН БҮТЭЭН БАЙГУУЛАЛТЫГ ИРЭХ ОНЫ ХОЁРДУГААР УЛИРАЛД ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     "ЭРДЭНЭС ТАВАНТОЛГОЙ” ХК-ИЙН ХУВЬЦАА ЭЗЭМШИГЧ ИРГЭН БҮРД 135 МЯНГАН ТӨГРӨГ ӨНӨӨДӨР ОЛГОНО WWW.MONTSAME.MN НИЙТЭЛСЭН:2024/12/20     ХУРИМТЛАЛЫН САНГИЙН ОРЛОГО 2040 ОНД 38 ИХ НАЯДАД ХҮРЭХ ТӨСӨӨЛӨЛ ГАРСАН WWW.NEWS.MN НИЙТЭЛСЭН:2024/12/20     “ЭРДЭНЭС ОЮУ ТОЛГОЙ” ХХК-ИАС ХЭРЛЭН ТООНО ТӨСЛИЙГ ӨМНӨГОВЬ АЙМАГТ ТАНИЛЦУУЛЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     Л.ОЮУН-ЭРДЭНЭ: ХУРИМТЛАЛЫН САНГААС НЭГ ИРГЭНД 135 МЯНГАН ТӨГРӨГИЙН ХАДГАЛАМЖ ҮҮСЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/20     “ENTRÉE RESOURCES” 2 ЖИЛ ГАРУЙ ҮРГЭЛЖИЛСЭН АРБИТРЫН МАРГААНД ЯЛАЛТ БАЙГУУЛАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     “ORANO MINING”-ИЙН ГЭРЭЭ БОЛОН ГАШУУНСУХАЙТ-ГАНЦМОД БООМТЫН ТӨСЛИЙН АСУУДЛААР ЗАСГИЙН ГАЗАР ХУРАЛДАЖ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/20     АЖИЛЧДЫН САРЫН ГОЛЧ ЦАЛИН III УЛИРЛЫН БАЙДЛААР ₮2 САЯ ОРЧИМ БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     PROGRESSIVE EQUITY RESEARCH: 2025 ОН “PETRO MATAD” КОМПАНИД ЭЭЛТЭЙ БАЙХААР БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2024/12/19     2026 ОНЫГ ДУУСТАЛ ГАДААД АЖИЛТНЫ ТОО, ХУВЬ ХЭМЖЭЭГ ХЯЗГААРЛАХГҮЙ БАЙХ ХУУЛИЙН ТӨСӨЛ ӨРГӨН МЭДҮҮЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2024/12/19    

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Events

Events

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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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Saeid Mollaei wins silver at Tel Aviv Grand Slam www.montsame.mn

Ulaanbaatar /MONTSAME/ On February 19, the second day of 2021 Judo Grand Slam Tel Aviv, Saeid Mollaei, the only judoka representing Mongolia at the competition, took the silver medal in men’s 81 kg division.
After topping his B pool and then defeating Russia’s Aslan Lappinagov in semi-final, the athlete lost to Uzbekistan’s Sharofiddin Boltaboev in the gold match.
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Altanbulag border port to return to full operations on February 23 www.montsame.mn

Ulaanbaatar /MONTSAME/. On February 17, the cabinet held a regular weekly meeting and made a decision to resume full operations of the Altanbulag auto vehicle border crossing checkpoint in Selenge aimag starting February 23.
The border crossing points will open for movement of freight vehicles of all types of goods. Foreign freight drivers will have to drop off their trailers at the clearance and inspection zone for pickup by domestic freight forwarders bound for the final destination.
Because of COVID-19 pandemic, the Altanbulag border checkpoint is currently operating under limited regime, serving for cross-border transportation of medicine, medical supplies and foodstuffs only.
Moreover, Tsagaannuur auto vehicle border crossing point in Bayan-Ulgii aimag and Ereentsav rail border checkpoint in Dornod aimag will open for transportation of livestock fodder beginning from February 23.
Also at the cabinet meeting dated February 17, the amount of fixed payment for the alternative civilian service for 2021 was set at MNT 6 million 350 thousand and 895, the same as of previous year. The amount is calculated on the basis of variable cost for supplies and services for one-year military service.
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Mongolia’s Jan coal exports jump 57% on month www.mysteel.net

Mongolia’s coal exports to all destinations in January increased by a significant 57.2% on month or by 3% on year to nearly 2.5 million tonnes, due to the faster pace of coal deliveries across the Mongolia-China border last month, according to the country’s Customs office. About 92.6% of Mongolian coal for export was exported to China in January, Mongolian Customs data showed.
At Ganqimaodu in North China’s Inner Mongolia, an average of 356 trucks laden with Mongolian coal arrived at the checkpoint daily throughout January, surging by 132 trucks/day from last December, according to Mysteel’s survey. The notable recovery of Mongolian coal transportation to China was observed mainly in late January
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Mongolia reports 49 new COVID-19 cases, 1 more death www.xinhuanet.com

Feb. 18 (Xinhua) -- Mongolia registered 49 new COVID-19 cases in the last 24 hours, bringing its national count to 2,493, the National Center for Communicable Diseases said Thursday.
The country also recorded one more COVID-19-related death on Wednesday, taking the total death toll to five, the center said in a release.
Meanwhile, 25 more recoveries from COVID-19 were reported, raising the nationwide tally to 1,802, it said.
So far, around 1.5 million COVID-19 tests have been conducted across the Asian country, which has a population of 3.3 million, according to the center. Enditem
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Rio Tinto willing to negotiate new Mongolia mine agreement -sources www.reuters.com

Feb 18 (Reuters) - Global miner Rio Tinto RIO.AXRIO.L is willing to enter a new agreement with Mongolia to expand its Oyu Tolgoi mine as the government requested, two sources with direct knowledge told Reuters on Thursday, as both parties look to resolve an impasse over the multibillion-dollar project.
Mongolia had sought agreement with Rio to cancel the deal underpinning the mine's underground expansion, saying rising costs and project delays had eroded expected benefits.
(Reporting by Jeff Lewis Editing by Cynthia Osterman)
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Governments from Mongolia to Mali seek to reopen mining deals www.reuters.com

TORONTO/JOHANNESBURG (Reuters) - Some resource-rich developing countries are seeking to rewrite mining contracts and accelerate dividend payouts, which can take years to materialize under deals that experts said are tilted in companies’ favor.
Any move to renegotiate agreements will trigger pushback by miners wary of threats to their profit margins, experts said, and previous attempts have caused protracted disputes.
Mongolia became the latest country to demand better terms, asking for more tax revenue from Rio Tinto’s Oyu Tolgoi copper-gold mine while it waits for dividends. In West Africa, Mali has said it would try to reopen mining contracts that leave the state waiting years for dividend payments.
“What we’re asking for today is for African countries to be able to benefit more from their mineral production,” said Abdoulaye Pona, president of Mali’s Chamber of Mines.
The historical power imbalance between mineral-rich but cash-poor countries and multinational mining companies has left a legacy of bad deals that have been overly generous to investors, said Alexandra Readhead, tax and extractives lead at the International Institute for Sustainable Development.
The financial strain governments are under from the COVID-19 pandemic could lead to stricter implementation of existing tax laws and closer scrutiny of deals, Readhead said.
Governments are pushing for speedier payouts as prices for metals from gold to copper scale multiyear highs, signaling what investment bankers said is the start of another commodity supercycle.
Glencore remains at odds with the Democratic Republic of Congo nearly three years after the country signed a new mining code into law, CEO Ivan Glasenberg said on Tuesday. The 2018 code hiked royalties on cobalt, copper and gold.
“We are still in discussions with the government... we have not accepted the change from the old code to the new code,” Glasenberg told investors on a call.
‘NOT LIKELY TO CHANGE’
Mongolia, which owns 34% of the Oyu Tolgoi mine, is unlikely to get dividends until 2051 based on Rio’s latest cost estimate for an underground expansion, a source familiar with negotiations said.
Delays and rising costs have eroded the expected benefits of the project, the state argued.
Rio, whose majority-owned Turquoise Hill Resources owns the rest of the mine, declined to comment.
Some are skeptical Mongolia’s government will win better terms under a new pact, given that previous agreements limit its taxation powers.
“It’s not likely to change to their benefit,” said Vincent Kiezebrink at the Netherlands-based Centre for Research on Multinational Corporations.
In Mali, the transitional government is reviewing mining deals after the auditor general last year identified problems including “non-distribution of dividends” in the contracts.
In September, Barrick Gold unit SOMILO paid its first dividend to Mali, 15 years after production at the Loulo mine started and a year after the auditor general criticised the firm for not paying dividends.
Barrick did not respond to questions. The Loulo mine is part of the Loulo-Gounkoto gold-mining complex, West Africa’s biggest, and Barrick said the project generated $240 million in dividends for 2020.
CEO Mark Bristow has said he does not expect major changes to mining deals in Mali.
Last year Mali’s auditor general demanded Resolute Mining pay dividends to the state, a 20% shareholder in the Syama mine which started producing in late 2008.
Resolute’s Mali subsidiary SOMISY will begin paying dividends to the government once it reaches profitability, the company told Reuters.
While pushing for reforms, countries in need of investment must still tread carefully, Pona at Mali’s Chamber of Mines said.
“You can’t create a (mining) code which will make mining companies avoid your country,” he said.
Reporting by Helen Reid and Jeff Lewis; Editing by Cynthia Osterman
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Total equilibrated revenue and grants decreased by 43.1 percent www.montsame.mn

Ulaanbaatar/MONTSAME/. In January 2021, according to the preliminary results, the total revenue of the general government budget was MNT 711.3 billion, of which the equilibrated revenue of the general government budget was MNT 666.1 billion or 93.6%.
On the other hand, the total expenditure and net lending amounted to MNT 784.5 billion in January 2021, resulting in a deficit of MNT 118.5 billion in the equilibrated balance. The total equilibrated revenue and grants of the general government budget decreased by MNT 42.4 billion or 6.0%, the total expenditure and net lending increased by MNT 143.2 trillion or 22.3% compared to the same period the previous year.
In January 2021, the total equilibrated revenue and grants of the general government budget was MNT 666.1 billion, decreased by MNT 504.8 billion or 43.1%, the total expenditure and net lending was MNT 784.5 billion, decreased by MNT 1.2 trillion or 60.8% compared to the previous month.
In January 2021, the equilibrated balance of the general government budget was in deficit of 118.5 billion, decreased by MNT 709.6 billion or 85.7% compared to the previous month. The General government budget revenue was comprised of 85.0% from tax revenue, 8.7% from non-tax revenue, 3.3% from the future heritage fund and 3.1% from the stabilization fund.
In January 2021, tax revenue reached MNT 604.3 billion, decreased by MNT 52.1 billion or 7.9% compared to the same period of the previous year. This decrease was mainly due to MNT 29.4 billion or 14.8% decrease in value-added tax revenue, MNT 21.8 billion or 15.1% decrease in social security revenue, MNT 9.9 billion or 13.6% decrease in excise tax revenue and MNT 1.9 billion or 1.7% decrease in income tax revenue, while MNT 9.5 billion or 15.8% increase in other taxes revenue and MNT 3.0 billion or 5.1% increase in foreign activity revenue.
In January 2021, total tax revenue was accumulated from 28.0% from value-added tax, 20.3% from social security contributions, 18.7% of the income tax, 12.5% from other taxes, 10.5% from excise taxes and 10.0% from foreign activities.
In January 2021, other taxes revenue increased by 2.2 percentage points, foreign activity revenues increased by 1.2 percentage points and income taxes revenue increased by 1.2 percentage points, while value-added tax revenue decreased by 2.3 percentage points, social security contributions revenue decreased by 1.7 percentage points and excise taxes revenue decreased by 0.6 percentage points compared to the same period of the previous year.
In January 2021, the general government budget expenditure and net lending was MNT 784.5 billion, increased by MNT 143.2 billion or 22.3% compared to the same period of the previous year. This increase was primarily affected by MNT 128.5 billion or 22.8% increase in current expenditure and MNT 13.4 billion or 16.7% increase in capital expenditure compared to the same period of the previous year.
Source: National Statistics Office
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First doses of COVID-19 vaccines to be brought from India next week www.montsame.mn

Ulaanbaatar /MONTSAME/. Mongolia is planning to bring first doses of Oxford - AstraZeneca COVID-19 vaccine on February 22 and start vaccination immediately from the next day, February 23, in phases.
For the first phase, MIAT Mongolian Airlines will bring 150,000 doses of the AstraZeneca vaccine from the Republic of India next Monday.
The cabinet convened on February 17 for a regular meeting and decided to fund necessary expenses for the MIAT direct flight to India from the government’s contingency fund. Corresponding government ministries were charged to take required steps to bring vaccines on scheduled time, deliver the vaccines to destined storage facilities using dedicated vaccine delivery vehicles after they arrive in the country and launch the vaccination in stages.
At the meeting, the cabinet also made decisions to settle funding to cover expenses required for mobilizing frontline COVID-19 employees working at public streets, isolation facilities and surveillance sites and provide personal protective equipment and disinfection and sterilization products.
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Mongolian democracy is officially “flawed” reckons EIU www.news.mn

The Economist Intelligence Unit’s 2020 democracy index ranks Mongolia 61st out of 167 countries rated and classifies it as a “flawed democracy”.
The EIU democracy index, on a 0-10 scale, is based on the ratings for 60 indicators grouped in five categories. Mongolia gained 8.75 scores in electoral process and pluralism, 5.71 scores in functioning of government, 5.56 scores in political participation, 5.63 scores in political culture and 6.76 scores in civil liberties.
The index values are used to place countries within one of four types of regime:
full democracies—scores of 8 to 10;
flawed democracies—scores of 6 to 7.9;
hybrid regimes—scores of 4 to 5.9;
authoritarian regimes—scores below 4.
Norway led the index with the highest score or 9.81, followed by Iceland (9.37), Sweden (9.26) and New Zealand (9.25).
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Coal export increases by 21.6 percent www.montsame.mn

Ulaanbaatar /MONTSAME/. According to the statistics of the Ministry of Mining and Heavy Industry, Mongolia exported 3,145.1 thousand tons of coal between January 1 to February 7, increased by 559.5 thousand tons or 21.6 percent compared with the same period of the previous year. Moreover, the country exported 138.4 thousand tons of copper concentrate. The figure shows the increase of 14.6 thousand tons or 11.8 percent.
In addition, the export of oil in the reference period reached 570.6 thousand barrels, increased by 282.9 thousand barrels or 98.3 percent from the previous year. Whereas, the export of iron ore and concentrate decreased by 213.0 thousand tons or 21.7 percent compared with the same period of the previous year.
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