Ulaanbaatar /MONTSAME/ Technology and equipment upgrades are underway at Baganuur and Shivee-Ovoo coal mines under the “Erdenes Mongol” LLC with a view to ensuring reliable and normal operations of the coal mines, electricity source suppliers in the country.

On December 24, Minister of Finance Ch.Khurelbaatar and Director of Infrastructure and Environment Finance Group of the Japan Bank for International Cooperation (JBIC) M.Tanimoto established a financing agreement of MNT 37.5 billion virtually to increase capacity of machinery and equipment of “Baganuur’ and “Shivee Ovoo” JSCs.

Financing of the loan with low-interest rate will enable to use Japanese technology and equipment, supply mining equipment to the abovementioned two companies as well as to establish Investment Fund in partnership with JBIC and make investment in projects to run by subsidiary and associated companies of “Erdenes Mongol’ LLC.

With funding of the export loan by the JBIC, first phase of renovation has been made this year by procuring 20 pieces of equipment worth USD 18.3 million.

Baganuur and Shivee-Ovoo coal mines are going under largest technical renovation after 22 years since the first renovation made in 1998 with soft loan of the World Bank and Japan within “Mongol coal” project.

16 new cases of COVID-19 were confirmed in Mongolia over the past day, all new cases were found in Ulaanbaatar, Head of Surveillance Department of the National Center for Communicable Diseases A.Ambaselmaa said on Dec 28.

A total of 8,894 PCR tests for coronavirus were conducted nationwide.

According to the Ministry of Health, the total confirmed cases of coronavirus in Mongolia reached 1,137, including 711 recoveries.

416 are being treated at hospitals, no deaths were reported.

Ulaanbaatar /MONTSAME/ A geological exploration team from “Erdenes Silver Resource” LLC of “Erdenes Mongol” LLC has successfully conducted exploration to determine gold reserves that met international quality standard, increasing gold reserve of Treasury Fund of Mongolia by 53.14 tons.

This is a cooperation result of Mongolian geologists, scholars and researchers of mining sector.

The geological research team of “Erdenes Silver Resource” LLC has conducted the exploration to determine gold reserve for four months as developing proper working plan and collaborating with the Ministry of Mining and Heavy Industry, National Geological Service, Geological Research Center, Geological Central Laboratory, School of Geology and Mining, “Khanlab” LLC, “Geoanalytic” LLC, “Lend Test” LLC and experts P.Batchuluun and B.Baldorj.

By the Government resolution, the Mineral Resources and Petroleum Authority granted exploration license to “Erdenes Silver Resource" LLC on August 27, 2020 on 22641,51 hectares in a place called Ovoot khyar (XV-21670) located in Tsogttsetsii soum of Umnugobi aimag.

On the edge of Victoria, south-east to Melbourne lies the small country town of Yarram. With a population of just over 2000 people, Yarram is now becoming known for its extraordinary murals, titled ‘Heesco Town’, designed by street-artist Khürelbaataryn Khosnaran, better known as Heesco.

Born and raised in Ulaanbaatar, Mongolia, Heesco always had a love for painting and drawing. He recalls being 13-14, living in Poland, exploring fine art galleries, and marvelling at the work of great painting masters.

Providing life to dull canvases, Heesco’s unique style is also influenced by comic books and heavy metal album covers.

He says, “[I was drawn to the] freedom of art.”

“I liked the idea of the career of an artist. They are free to do whatever they want to and express any kind of ideas and opinions.”

Heesco says that art is something he “cannot go without” and that finding a career in art has been a great joy in his life.

Hiromi Tango: An extraordinary Japanese-Australian artist

As with his work on ‘Heesco Town’, Heesco admits there is something special about working for different communities and seeing how his art can completely change the environment.

“Especially as my work is public and outside, it belongs to everyone,” Heesco says, adding, “even if it changes one person’s day then it is worth it.”

It took a while before Heesco incorporated the beauty of Mongolian culture in his work.

He says, “I was creating graffiti and hip-hop characters in traditional Mongolian dress. It was interesting to match these different, opposite cultures and create such visual mashups.”

“Not many people know about Mongolian history, despite there being centuries and centuries of material there. It never takes me long to find something new,” he adds.

“We are very proud of Heesco, a proud Mongolian Australian, and are working closely with him in support of his artistic talents as well as promoting Mongolia in Australia. There is a lot to learn about Mongolian culture and Heesco has put Mongolia on the map with a unique style of street art. He is an example of what you can achieve if you put your mind to it,”

– said His Excellency Chuluunhuu Batlai Ambassador of Mongolia to Australia.

Heesco’s murals are joyous, filled with vibrancy and colour. One of his signature works- a collaboration with other artists depicting former Prime Minister Malcolm Fraser- represents values of unity that Heesco feels strongly about.

He says that at the time he made this mural, he had been creating many works depicting political figures in a more negative light.

“It occurred to me that it is easy to attack those people and criticise them,” Heesco says, “I wanted to do something that was more positive.”

While Heesco was working on murals in Yarram for a friend, local farmer Eric Greenaway suggested that he make several more murals for the town and title the project ‘Heesco Town’.

Heesco says that this project has introduced an abundance of tourism into the area; something that has helped the community immensely following the bushfires and the impact of the pandemic on the area.

“People started coming up to me, telling me different stories,” Heesco says.

“[The murals are a] collaboration between local businesses, residents and myself. Very quickly all sorts of stories started to emerge.”

‘Heesco Town’ is unique and meaningful and continues to shape the local identity of Yarram.

Heesco says, “it is good to see how it has changed the town, but I would not be able to do it without the locals.”

by:

KELLIE MALONEY

Kellie is studying a Bachelor of Communications and a Bachelor of Arts in International Studies at UTS. She has a passion for travelling and experiencing other cultures through music, film, art and food.

China will overtake the US to become the world's largest economy by 2028, five years earlier than previously forecast, a report says.

The UK-based Centre for Economics and Business Research (CEBR) said China's "skilful" management of Covid-19 would boost its relative growth compared to the US and Europe in coming years.

Meanwhile India is tipped to become the third largest economy by 2030.

The CEBR releases its economic league table every year on 26 December.

Although China was the first country hit by Covid-19, it controlled the disease through swift and extremely strict action, meaning it did not need to repeat economically paralysing lockdowns as European countries have done.

As a result, unlike other major economies, it has avoided an economic recession in 2020 and is in fact estimated to see growth of 2% this year.

The US economy, by contrast, has been hit hard by the world's worst coronavirus epidemic in terms of sheer numbers. More than 330,000 people have died in the US and there have been some 18.5 million confirmed cases.

The economic damage has been cushioned by monetary policy and a huge fiscal stimulus, but political disagreements over a new stimulus package could leave around 14 million Americans without unemployment benefit payments in the new year.

US and Chinese economies 2010-2035. Gross domestic product in $US trillions (constant prices). Chart shows Chinese and US economic output over time with China overtaking the US around 2028 .

"For some time, an overarching theme of global economics has been the economic and soft power struggle between the United States and China," says the CEBR report. "The Covid-19 pandemic and corresponding economic fallout have certainly tipped this rivalry in China's favour."

The report says that after "a strong post-pandemic rebound in 2021", the US economy will grow by about 1.9% annually from 2022-24 and then slow to 1.6% in the years after that.

By contrast the Chinese economy is tipped to grow by 5.7% annually until 2025, and 4.5% annually from 2026-2030.

China's share of the world economy has risen from just 3.6% in 2000 to 17.8% now and the country will become a "high-income economy" by 2023, the report says.

The Chinese economy is not only benefitting from having controlled Covid-19 early, but also aggressive policymaking targeting industries like advanced manufacturing, said CEBR deputy chairman Douglas McWilliams.

"They seem to be trying to have centralised control at one level, but quite a free market economy in other areas," he told the BBC. "And it's the free market bit that's helping them move forward particularly in areas like tech."

But the average Chinese person will remain far poorer in financial terms than the average American even after China becomes the world's biggest economy, given that China's population is four times bigger.

In other predictions:

The post-Brexit UK economy will grow by 4% annually from 2021-25 and 1.8% annually from 2026-30 (after shrinking in 2020)

India had overtaken the UK as the fifth-biggest economy in 2019 but has slipped behind it again due to the pandemic's impact. It won't take over again until 2024, the CEBR says

India's economy will go on to overtake Germany in 2027 and Japan in 2030

Mongolia reported 39 more COVID-19 cases in the past 24 hours after 14,646 tests had been conducted across the country, the National Center for Communicable Diseases (NCCD) said Sunday.

Thirty-eight of the new cases were locally transmitted or reported in the capital city of Ulan Bator, Amarjargal Ambaselmaa, head of the NCCD's Surveillance Department, said at a press conference.

The other one is a Mongolian national who has recently returned home from Europe on a chartered flight, said Ambaselmaa.

The country now has 1,121 confirmed cases, including 678 locally transmitted ones, according to the center.

A total of 711 patients have recovered so far with no deaths reported. Enditem

Ulaanbaatar /MONTSAME/. MONTSAME News Agency took an interview from Ambassador Extraordinary and Plenipotentiary of the Republic of India to Mongolia M.P.Singh on the occasion of the 65th anniversary of the establishment of diplomatic relations between the two countries.

-What was your first impression of Mongolia?

-My first impression on Mongolia in short words is SIMPLY STUNNING & BEAUTIFUL. Mongolia, with its captivating scenic surroundings, pure and untamed nature with some exceptionally friendly and hospitable people, beacons and attracts you instantly. I would call Mongolia as a Hidden Tourist Gem and adventurers’ paradise that has vast & incredible landscapes, snow covered mountains, golden sand dunes, heavenly lakes interspersed with Buddhist chanting in Monasteries. And I must hasten to add that the horses, camels, sheep and hawks that are my personal favourite.

-What do you plan for increase the bilateral-relations between two countries?

-Indeed, I assumed charge as Ambassador at an exciting time in our relationship when our bilateral relations are on ascendance and there is a strong momentum. So I am glad that you asked about the USD 1.236 billion first Oil Refinery of Mongolia being constructed in Dornogobi with the assistance from Indian government. This is a milestone project and a testimony of our close friendship and strategic partnership for supporting speedy economic development of Mongolia.

This refinery expected to be completed by 2023 is capable of producing 1.5 million metric tons or about 80% of current Mongolian oil requirement will usher in ‘energy security’, create more employment opportunity, save foreign exchange and most likely will bring down the domestic oil prices.

With a view to help its domestic operations and maintenance, India is also assisting with capacity building for the upcoming Oil Refinery by arranging tailor made training suited to local environment for Mongolian Engineers, Technicians, IT personnel, HR officials in specialized Indian Institutions. Starting this year, we have allocated 40 fully funded Indian scholarships. Coming to the second part of your question, quite naturally, mega project of this size would touch every aspect of economic activity in Mongolia and certainly result in generating greater interest among Indian companies, businessmen, professionals in Mongolian market to avail trade and commercial opportunities. We are expecting the peak numbers of Indians in Mongolia to be around 2000 to 3000 from the current size of about 250 or so in next few years.

-What do you plan for the education sector?

-Education sector is so vital and critical to progress of any nation. Acknowledging its importance, various initiatives of Indian government are now driving the 3rd largest education system in the world with a sharp focus on development of education infrastructure using transformative and innovative approaches in higher & technical education, making the learning, scientific research, knowledge and end-user based. There are 39,050 colleges in India, 903 universities and estimated value of education sector in India is about US$91.7 bn. In 2017, 36.64 million students were enrolled in higher education in 2017. Newer areas of innovation like AI, Robotics are supporting Indian strengths in IT & Communication Technology. Let me tell you that the sheer scale that IT & BPO have played in Indian economy reflected in the vital statistics like US$126 Billion revenues in 201-18 with 8% share in India’s GDP controlling 56% in global outsourcing market & 45% share in services export, could also be a guiding yardstick for Mongolia to follow.

Naturally we would like to share with Mongolia, Indian expertise and domain knowledge in IT and engineering to support its capacity building and human resource to propel socio-economic growth and development. Under the platform of Indian Technical & Economic Cooperation (ITEC) and ICCR, specialized short- and medium-term scholarship courses are provided to Mongolia for enhancing capacity in the critical engineering, banking, governance, fintech, IT, agriculture, dairy, renewable energy, media marketing etc. through 300 scholarships every year in over 250 courses in 100 premier Indian institutions.

During last 3 decades, about 3500 Mongolian professionals have been trained in India.

We would continue to support this initiative. Also in January 2020, the first Student Exchange Programme will also commence with 30 Mongolian students visiting India for 20 days during winter vacations.

-India is famous for its tourist attractions. Could you please tell us about India tourism environment?

-You are so right. The ‘Holy Land’ of India is an exotic, spiritual and recreation, 365-day tourist destination that attracted about 10 million foreign tourists in 2018. Through its numerous curated experiences to world heritage sites, snow-covered Himalayas, silver sand beaches, golden deserts, national parks, pristine palaces, venerable shrines for worship, fairs & festivals, traditional cuisine, and myriad shopping experiences, India is the 7th largest tourism economy in the world.

The World Travel & Tourism Council expects India to become the 4th largest travel and tourism economy in less than a decade. Tourism industry created about 14.6 million jobs in last 5 years registering a growth of 5.6% and brining in about US$25 billion Foreign Exchange Earnings. With relaxation of visa regime & e-visa facility now available to 167 countries, it will surely contribute further to hastening the pace of tourist arrivals and additional foreign earnings.

-Mr. Ambassador, what was your diplomatic career history?

-Well, my assignments in Cuba, Vietnam, Thailand, Canada, England and Dubai and responsibilities in Indian Protocol have enabled me to travel to over 105 countries thus allowing me to gain better understanding of different cultures, people, history, customs and assimilate their unique experiences in the line of my duty. I discovered that in this world, various countries have different lifestyle, varying levels of economic progress and living yet there are so many commonalities and convergences in their aspirations, their dreams, their pursuit for peace and happiness.

Mongolia, as I mentioned earlier, continues to be one of the few nations in the world that still retains old world rustic charm and beauty with people living peacefully in close harmony with untamed nature, following simple and honest living. I personally feel that with its eternal blue sky, own unique culture, dance and music, form of arts, a high gender equality index, enormous respect for elders and children, Mongolia is an ideal place for stress free living.

-What did you learn about Mongolian culture?

-In our 8 months here in Mongolia and reading of several books made me realize some absolutely amazing facts about Mongolia, some of which even you may not be aware like Ulaanbaatar city means ‘Red Hero’, population density is just 2.2 persons per km, horses outnumber humans by about 14 times and sheep outnumber by about 35 times, perhaps the first passport was issued by Chinggis Khan who ruled over the largest empire in the world and introduced written Mongolian script, snow leopards are native to Mongolia, Kublai Khan established Beijing city etc.

I found Mongolia to be the last bastion of untamed nature and some astonishing landscapes & beauty and home to the truly last wild horses. Notwithstanding its cold climate, Mongolia has the most friendly and hospitable people ever ready to open their home and hearts to the guests, and their children could easily disarm you with a truly genuine smile.

-Lastly, Mr Ambassador what is your main focus while here?

-Of course, my focus primarily would be to drive mutually beneficial more trade and economic content commensurate with our huge goodwill for India and in line with excellent bilateral and friendly relationship. Towards this, my priority number 1, 2 and 3 would continue to be the USD 1.236 billion Oil Refinery project. Additionally, I would also like to concentrate on timely completion of USD 20 million Atal Bihari Centre of Excellency in IT – construction of which is expected to commence in 2020 as well as establishment of Cyber Security Centre, India-Mongolia Friendship School in Ulaanbaatar city, and Training of 1000 Mongolian English teachers in the near future. To attract and promote Indian interest in Mongolian mining, mineral and oil sector, the Embassy had organized first Oil and Gas Expo in May 2019 which was attended by 32 top Indian multinational companies including Tata, ASCONs, IGSEC, L & T.

During 2020 – which also happens to be 65th anniversary of India-Mongolia diplomatic relations – we would attempt to push economic cooperation in non-traditional sectors like Tourism, Fintech, Pharmaceutical & Healthcare, Higher and Technical Education, Agriculture, Dairy and Animal Husbandry sectors. The 3 Ds – Dharma, Democracy and Development – are the pillars of India-Mongolia historical, time tested and close friendship of many centuries that pre-dates 1955 when diplomatic relationship was established. In 1961, India was one of the first countries to support membership of Mongolia into UN and in 1991, India actively pushed for its membership in NAM. Mongolia supported India’s resolution in UN for independence of Bangladesh in 1972.

In recent times, historic visit of Prime Minister Modi brought in a paradigm shift into our relationship in 2015 when India in keeping with its ‘Act East’ policy declared ‘Strategic Partnership’ with its important friend and ‘third neighbour’, Mongolia and announced USD 1 billion LoC for infrastructure development, now being used for construction of refinery. To nourish and nurture India-Mongolia relationship and to maintain sustained momentum of our friendship, during the last 20 months Foreign Minister, Home Minister and Petroleum Ministers and many other high-level dignitaries have visited Mongolia. Likewise, visits to India by Mongolian Foreign Minister, Minister of Mining and Heavy Industry, Defence Minister, Chairman of the Civil Service Council and most recently visit of the President Battulga in Sep 2019 have further cemented, reinforced and enhanced our bilateral relationship.

Let me conclude by saying that going beyond our strong historical ties, we look forward to India-Mongolia future with keen interest, great expectation and enthusiasm. While we share wonderful friendship, the best in our relationship is yet to come.

Ulaanbaatar/MONTSAME/ Interview with General Director of Erdenet Mining Corporation (EMC) state- owned enterprise that makes substantial contributions to the growth of Mongolian economy, Honored Industrial Worker of Mongolia, Doctor of Technical Sciences Kh.Badamsuren.

EMC HAS CONTRIBUTED MNT 800 BILLION TO STATE AND LOCAL BUDGETS IN THE FIRST 11 MONTHS OF 2020

-First of all, we would like to present a detailed introduction of EMC to our readers.

-In1973, a Mongolia-Soviet Intergovernmental Agreement was signed to establish the company as a joint venture with the Soviet Union providing Mongolia’s 50 percent share of the investment as a loan in addition to investing its own share. You know verywell about the resettlement of that loan known as the great debt.

In late 1980s, when I was working at Bor-Undur factory, I initiated and organized an expert roundtable of Ministry authorities, directors of all mining enterprises, engineers, and scientists in the field at Bor-Undur during the celebration of the 10th anniversary of the factory. The roundtable discussed several issues including increasing Mongolia’s stakes in Mongolia-Soviet joint ventures to 51 percent, and having the ventures pay royalties and subsoil taxes to Mongolia, and reached agreement in principle. The proposals were submitted to the government and accordingly, the 1991 agreement was established. Mongolia dealt with the issues at the right time. This is how Mongolia’s stakes in Mongolrostsvetmet and Erdenet joint ventures increased to 51 percent thanks to the efforts of many with great devotion to their home country, Mongolia.

Erdenet Mining Corporation that started out as a joint venture with a processing capacity of 4 million tons of ore has now become a state-owned enterprise capable of processing 32 million tons of ore. In the meantime, the company operated as a joint venture for 38 years and with public and private sector involvement for 2 years. In March 2019, it becamea 100 percent state owned enterprise.

The Government of Mongolia put special emphasis on the development of the company for the first time in the last more than 20 years with the approval of the General Guidelines for the Development of Erdenet Mining Corporation SOE until 2031 and the Government approved the guidelines with its Resolution No. 224 of 2019. The Government Agency for Policy Coordination on State Property approved the General Guidelines with the Resolution No. 252 of 2019. The approved General Guidelines were incorporated into five-year plans and are now reflected in annual business plans of the enterprise. EMC now has achieved and accomplished greater than ever before through uninterrupted normal operations thanks to the government’s policy and decisions.

-The shareholding of EMC is still a hot topic in politics. You worked with both the Government and the 49 percent shareholder. A few months after Mongolian Copper Corporation acquired the 49 percent shareholding from Russia in 2016, in December 2016, you were appointed to EMC. How was the situation when you assumed office? What condition was the company in? How was it before?Whataccomplishmentswere made during your term and what are the improvements?

-To be honest, I faced a difficult transitional period of challenges. I started my work by getting acquainted with the company’s activities and staff including the engineering and technical professionals.

Firstly, I accelerated the development of the General Guidelines for the Development of EMC until 2031, listened to the employees’ views on the definition of the company’s vision, mission, and values, set out goals to strengthen corporate governance, and adoptedacorporatesustainabilitypolicy with 5 key goals. EMC has the vision ‘to be a company of world standard and pride of Mongolia’ and mission ‘to follow sustainable development and responsible mining and create national wealth’. I am directing the company with these in mind.

Secondly, we conducted extensive reserve estimates and geological explorations.

-When you announced you will secure 60 years of further operation, I wrote ‘Is it Badamsuren’s romanticism, or...’. The factory appeared to be an old one running out of its reserves at the time.

-Since 2017, we have spent around MNT 27 million on geological explorations. As a result, we found out there are more ore reserves in the deeper section of the deposit and pinpointed locations of several potential sites. Moreover, we have finished confirming geological reserves of Erdenetiin-Ovoo deposit in compliance with the international JORC standard. This makes future major projects possible, but also raises the company’s value and provides assurance to foreign investors. Thanks to these efforts, theErdenet factory’s life has been prolonged by over 20 years, ensuring more than 60 years offurther operation. The assessment was made based on expert studies and calculations. I would like to finish my answer to the previous question.

Thirdly, Erdenet factory was equipped with the most advanced equipment and technologies of the time when it was first established. The main problems were the need to upgrade up to 80 percent of the main equipment that had aged and the expired service life of the engineering facilities.

Therefore, we are extensively upgrading the factory. Up to 25 percent of the factory equipment has been upgraded with investments totaling MNT 1.2 trillion between 2017 and 2020. This improved the reliability of the factory equipment and ensured normal operation of the factory.

Fourthly, procurement activitiesthat had been carried out separately were integrated, ensuring transparency, and have been digitized since 2019, and moved into single window system in accordance with relevant laws and regulations. While operating in a special regime with procurement activities made transparent and equal competition opportunities provided, we saved a total of MNT 140 billion–MNT 65.8 billion in 2019 and MNT 74.2 billion in the first 9 months of 2020.

Fifthly, the salary and bonus policy has been revised, and since 2017, miner’s salary and bonus have been gradually increased by 55 percent. In addition, the additional pension for the retired has been increased by 1.5-2.1 times. Within the approved budget and plan, EMC provides 24 types of assistance, such as medical treatment for its employees, financial support for housing, tuition fees, pensions for the retired, and allowances for mothers caring for their children.

In conclusion, I would like to say that as a result of the works done in the recent years, we have been able to get rid of improper management in human resources, and procurement through fundamental reforms.

We have announced 2020 as the “Year of Science-Based Intensive Industrial Development” and have begun to implement large-scale projects with an investment policy to ensure continuous and reliable production and increase efficiency. By the expected performance of 2020, the production and economic targets were fully met, the production plan was fulfilled by 100.3-119.0 percent, the revenue plan was fulfilled by 110 percent, the expenses were reduced by MNT 33 billion, and the net profit plan is to be exceeded. As of the first 11 months of 2020, MNT 804 billion was contributed in the state and local budgets.

-During your tenure, Erdenet has set historical records in production and finance. Is it difficult to set a new record in industry, as it is not easy to set a new record in a big sport? Do you have an ambition to improve your achievements?

-Of course. The mining and geological conditions of the Erdenetiin-Ovoo deposit are deteriorating, the copper content in the ore is declining, and the hardness of the ore is increasing. These are natural factors that directly affect the decline in production and increase costs. All of this must be overcome through good governance, good management, engineering skills, sound solutions, and the efforts of the mining community. That's how we can improve our past achievements. For me, it's not just about living in the present, it's about moving forward to a bright future.

Within the framework of implementing the Erdenet Mining Corporation's development guideline until 2031, firstly, main production expansion and modernization projects, secondly,infrastructure projects, thirdly, social development projects, and fourthly, new projects to improve the level of product processing will be implemented in stages. In short, the second campaign to renovate EMC has begun.

In order to increase production revenue and profits, ore processing is being expanded by 22.7 percent to 40 million tons. Thus, we are working to increase copper concentrate production by about 20 percent and increase our country's export revenue and make contribution to the country’s society and economy. We are also aiming to gradually introduce value-added copper products.

There are also plans to build a cathode copper plant with heap leaching technology and a copper concentrate smelting and processing plant. The Government of Mongolia's Action Plan for 2020-2024 includes projects to expand and modernize the Erdenet open pit mine, concentrator plant, and maintenance and mechanical plant to increase production capacity and efficiency. These projects are aimed at increasing production, revenue and profits, reducing costs, and increasing the competitiveness of EMC.

According to our plan, in 2020, EMC's annual sales revenue will reach MNT 2.1 trillion or MNT 5.8 billion per day. By 2025, it will reach MNT 5.6 trillion in a year, which means about MNT 14 billion per day, and in 2028, it will reach MNT 11 trillion in a year, reaching more than MNT 30 billion per day. That's a big number.

-Some people say that Erdenet is making such a profit because of the rising copper price in the world market. Some even say that the profit increased this much just because it was taken under state ownership in entirety?

-Of course, the profit of the organization does depend on the market price of the products sold. However, this is not the only factor that affects. The average price of copper per ton on the world market in 2019 was USD 6,005. As I mentioned above, this was the year that we witnessed our highest profitable year in thehistory of past 40 years.

In 2020, the state budget forecast the price of copper at USD 5,991. Due to the global outbreak of the pandemic, prices of some mining products have fallen sharply. In the first quarter of this year, copper price fell by more than USD 1,300 to USD 4,600. The average for the first half of the year was more than USD 500 lower than planned. However, since November 18, 2020, it increased to USD 7,000. In general, we are trying to achieve our goals regardless of the situation we are facing. No dividends were paid in 2017 due to EMC's loss in 2016.

In 2018, a total of MNT 68.7 billion in dividends was distributed. Of this, MNT 35 billion went to the Mongolian government and MNT 33.7 billion to the Mongolian Copper Corporation. In 2019,it became a 100 percent state-owned enterprise and paid MNT 150 billion in dividends to the Mongolian government. This is 2.2 times the total dividend paid in 2018. In 2020, we are paying USD 155 billionin dividends. Dividends are projected at USD 200 billion in 2021. So, it is unreasonable to say that the revenue of EMC has increased as the dividend for the 49 percent shareowner now remains at the company.

-Erdenet is working nonstop regardless of current situation of the pandemic. I assume that it must be hard to be well organized as it has large number of employees.

-Everyone was shocked after the news came out highlighting the cases of COVID-19 detected in Orkhon aimag. Shortly afterwards, the factory administration took immediate action and involved 7663 people in the rapid COVID-19 testing and 700 people in the PCR in a short period of time, which created a positive atmosphere for employees to feel calm and safe. In these difficult times, when production and services are declining due to the pandemic and the economy is shrinking, a unified program and plan of risk management measures have been developed, approved, and being implemented. We have increased the salaries of our employees by 10 percent in 2020. During this difficult time, our miners are being able to work together towards our shared goals and directions as more united than before, disciplined, calm and well organized. Most importantly, we are creating a guarantee for our future with today’s success.

B.Ganchimeg

Cases of the more contagious variant of Covid-19 first identified in the UK have been confirmed in several European countries as well as Canada and Japan.

Infections linked to people who arrived from the UK were reported in Spain, Switzerland, Sweden and France.

A couple found infected in Ontario, Canada, had no known travel history or high-risk contacts, officials say.

Japan is to ban most non-resident foreign nationals from entering the country for a month from Monday.

Since reporting infections in five passengers who had all arrived from the UK, the country has confirmed two more cases, one of which is said to have been domestically transmitted.

News of the new variant triggered travel restrictions around the world last week.

Meanwhile, several EU countries have started to vaccinate people against the virus ahead of a co-ordinated rollout across the whole bloc on Sunday.

Health workers in north-east Germany said they were not prepared to wait another day to distribute the newly approved Pfizer-BioNTech vaccine. They began by immunising elderly residents of a nursing home in Halberstadt.

In Hungary, the state news agency said the first recipient of the vaccine was a doctor at Del-Pest Central Hospital. The authorities in Slovakia also said they had begun vaccinating.

The head of the European Commission, Ursula von der Leyen, has released a video on Twitter celebrating the vaccine rollout, calling it a "touching moment of unity.

Scientists say the new variant of Covid-19 may have been spotted in the UK first because of the strength of the country's surveillance system.

The new variant is considerably more transmissible than previous strains but not necessarily any more dangerous for those infected, experts say.

How far has the new variant spread?

Those infected in Canada are a couple from Durham, near Toronto, who are now self-isolating.

In Japan, the two new cases are a pilot in his 30s who returned to Japan from London on 16 December and a woman in her 20s, one of his family members with no history of visiting the country, Kyodo News reports.

Under the travel suspension coming in on Monday, Japanese nationals and non-Japanese residents who are abroad will be allowed to return, and some travellers such as businesspeople will be allowed to enter from a small number of mainly Asian countries.

In Spain, four cases of the new variant were confirmed in Madrid. None of the patients, all of whom travelled from the UK, were seriously ill.

Switzerland identified three cases, two of which are known to be British citizens currently in the country. Switzerland is alone in Europe in keeping its ski slopes open to tourism over the Christmas and New Year period, and thousands of tourists from Britain have arrived in the last couple of weeks.

In Sweden, the health agency said a traveller there was ill with the strain but had been self-isolating since he returned from the UK.

France confirmed its first case of the new variant - a French citizen in the central town of Tours who had arrived from London on 19 December, the health ministry said.

The man, who had been living in the UK, was asymptomatic and currently self-isolating at home, the ministry said.

France closed its border with the UK after the new variant was confirmed in Britain but ended its ban for EU citizens on Wednesday, providing people tested negative before travelling.

Thousands of lorry drivers spent Christmas Day in their cabs in Kent waiting to cross the English Channel.

Cases in Denmark, Germany, Italy, the Netherlands and Australia were reported earlier.

What is the new variant?

The new variant first detected in southern England in September is blamed for sharp rises in levels of positive tests in recent weeks in London, south-east England and the east of England

About two-thirds of people testing positive in these areas could have the new variant - but this is only an estimate, the Office for National Statistics (ONS) says.

Three things are coming together that mean the new variant is attracting attention:

It is rapidly replacing other versions of the virus

It has mutations that affect part of the virus likely to be important

Some of those mutations have already been shown in the lab to increase the ability of the virus to infect cells

All of these build a case for a virus that can spread more easily, says the BBC's health and science correspondent, James Gallagher.

Experts say the leading vaccines developed in recent months should still work.

The mass vaccination programme to protect people from the coronavirus has started globally to combat the pandemic, which has killed more than 1.73 million people globally and infected 78 million people since late December last year.

Earlier this month, the United Kingdom became the first country in the world to start administrating its citizens with a fully trialled and tested COVID-19 vaccine, soon followed by several other nations.

Here is a list of countries that have approved and started administrating the COVID vaccines to their populations:

United Kingdom

On December 8, Margaret Keenan, a 90-year-old British grandmother, became the first person in the world to receive the Pfizer-BioNTech COVID-19 vaccine outside of a trial.

But shortly after the vaccination programme was launched, the UK imposed tough lockdown measures after a new and more contagious strain of the coronavirus was found.

United Arab Emirates

The first jabs of the coronavirus vaccine to residents were administered in the UAE capital, Abu Dhabi, on December 14.

The oil-rich Gulf state has approved the Pfizer-BioNTech and Chinese-made Sinopharm vaccines for mass use.

United States

The same day, the US also started administrating the Pfizer vaccine, with a critical care nurse in New York City, Sandra Lindsay, becoming the first American to receive it.

The Pfizer-BioNTech has been administered to more than a million people since the programme began even as the US authorities have approved a second vaccine made by Moderna.

Canada

The first COVID-19 patient to be inoculated in Canada was an 89-year-old woman from Quebec who received the Pfizer vaccine on December 14.

The North American country, along with neighbouring US, has also approved the Moderna vaccine for its mass immunisation programme. The first shipment of the Moderna shots arrived on Thursday.

Saudi Arabia

Saudi Arabia, the worst-affected country on the Arabian Peninsula with more than 360,000 recorded cases, including 6,148 deaths, began its campaign with the Pfizer-BioNTech vaccine on December 17.

Israel

Israeli Prime Minister Benjamin Netanyahu received a COVID-19 vaccine jab on December 19, kicking off a national roll-out.

Netanyahu, 71, and his health minister were injected with the Pfizer-BioNTech vaccine live on TV at Sheba Medical Center in Ramat Gan, near Tel Aviv.

Qatar

Qatar launched a free coronavirus vaccination campaign after the first batch of the Pfizer-BioNTech vaccine arrived in the Gulf state on December 22.

The vaccine will be administered in two doses, three weeks apart at seven primary health centres across the country.

Qatar has also signed deals to acquire Moderna and Oxford-AstraZeneca vaccines.

Mexico

Mexico started its mass vaccination programme on December 24, with a nurse being the first to receive the jab in the country with one of the world’s highest COVID-19 death tolls.

The televised launch came a day after the first 3,000 doses of the Pfizer-BioNTech COVID-19 vaccine arrived by a courier plane from Belgium.

Serbia

The Balkan nation started its vaccine roll-out on December 24, with Prime Minister Ana Brnabic becoming the first to receive the Pfizer vaccine.

Kuwait

Kuwait also began its coronavirus vaccination campaign on December 24.

The country received the first 150,000 doses of the vaccine developed by US pharmaceutical giant Pfizer and its German partner BioNTech.

Chile

On December 24, Chile became the second Latin American nation after Mexico to start its inoculation programme.

Zulema Riquelme, a 42-year-old nurse, got the first jab in the presence of President Sebastian Pinera.

Russia

The Russian government says it has been inoculating its citizens since September with its Sputnik V vaccine.

On August 13, President Vladimir Putin announced that Russia had become the first country to grant regulatory approval to a COVID-19 vaccine.

However, the approval for use was given without the country completing its phase-three trial, raising questions from world health organisations and scientists.

Costa Rica

Costa Rica received its first shipment of Pfizer-BioNTech vaccine doses on Wednesday, and the country administered the first shot on Thursday to a wheelchair-bound, 91-year-old nursing home resident, Elizabeth Castillo.

“I am very grateful to God, because I have asked so much of him. My life is very important to me, so take advantage of every moment,” Castillo said.

Costa Rican President Carlos Alvarado Quesada said the vaccinations “may be the beginning of the end of this pandemic”.