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    

Category

Events

Events

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

NEWS

64x64

Government raises USD 600 million in Nomad bond to repay sovereign debts www.montsame.mn

Ulaanbaatar /MONTSAME/. Minister of Finance of Mongolia Ch.Khurelbaatar today announced that the government of Mongolia together with the Bank of Mongolia has issued 5.5-year ‘Nomad’ sovereign bond with 5.125 percent of annual coupon rate, raising USD 600 million on international stock markets. The trades of the Nomad bond, whose repayment is due in April 2026, have been completed by September 29.
Minister Khurelbaatar explained that the purpose of the Nomad bond is to repay the USD 500 million of the five-year Mazaalai bond, maturity of which is approaching in April 2021. With the new issuance of the Nomad bond, the government has made a debt restructuring on part of the current outstanding sovereign debts, exchanging 10.0875-percent Mazaalai bond debts with the 5.125-percent Nomad bond debts, at almost half the interest payment of the Mazaalai.
He further said that the repayment of another sovereign guaranteed Chinggis bond (Mongolia has repaid USD 500 million of the total USD 1.5 billion debts of Chinggis bond in 2018) has been postponed or rescheduled to lessen the burden on the budget.
“This measure now allows the government to save around USD 26.7 million in bond interest payment annually. The government of Mongolia pays around USD 203 million annually for the interest payment of its sovereign bonds, namely Mazaalai, Chinggis, Gerege and Khuraldai, and thanks to the new Nomad bond, the annual payment for the sovereign bond interests is expected to lower down to USD 176.4 million.”
“In other numbers, government budget burden imposed by the total repayment of USD 1.5 billion sovereign debts Mazaalai (USD 500 million), which was issued in April 2016, and Chinggis (USD 1 billion) bonds, issued in December 2012, due in 2021 and 2022 respectively, has now been alleviated or the repayment now has been postponed by 5.5 years” added the Minister.
...


64x64

'Nationally Appropriate Mitigations Actions in Construction' project concludes www.montsame.mn

Ulaanbaatar /MONTSAME/. On September 29, 'Nationally Appropriate Mitigations Actions in the construction sector of Mongolia (NAMA)', a project designed to assist Mongolia in reducing its greenhouse gas emission (GHG) in the construction sector, organized its closing workshop in Ulaanbaatar.
Representatives from Ministry of Construction and Urban Development (MCUD), Ministry of Environment and Tourism, Ministry of Energy, Ministry of Finance, Capital City Governor’s Office, private sector, NGOs, academia, international organizations, and the project team participated in the workshop. The project is funded by the Global Environmental Facility and implemented by the MCUD and UNDP Mongolia.
The impacts of the climate change on people’s lives and the surrounding environment is imminent and the global net CO2 emissions must drop by at least 45% between 2010 and 2030 to limit the global warming at 1.5°C. Mongolia’s GHG emission is expected to double the 2014 levels by 2030 at the current rate and the largest contributor is energy sector comprising more than 50% of the country’s total GHG emission in which buildings represent the second highest energy consumption.
Since its commencement in 2017, the NAMA project made significant contributions in advancing energy efficiency in the construction sector including inventory methodology and a baseline for GHG emission; the first ever web-based GHG emission inventory and Monitoring, Reporting, and Verification system which were formally adopted by the MCUD; and six pilot projectsы that are projected to save 48 thousand tons of CO2 during its lifetime. The project also contributed to strengthening sector’s human resource capacity through training over 420 professionals and supported creation of over 50 jobs in the energy saving roles.
Ms. Nashida Sattar, Deputy Resident Representative of UNDP Mongolia, stated “Building on these outcomes and our strong partnerships through NAMA project, UNDP Mongolia is continuing its support to the Government of Mongolia in climate change mitigation through our successor project, Nationally Determined Contributions (NDC.) I would like to thank everyone here today for your active engagement and contribution to a successful implementation of the NAMA project. We hope for the same level of collaboration on the new NDC project.”
Background
UNDP is the leading United Nations organization fighting to end the injustice of poverty, inequality, and climate change. Working with our broad network of experts and partners in 170 countries, we help nations to build integrated, lasting solutions for people and planet.
...


64x64

Rio needs more than a safe pair of hands www.bloomberg.com

Rio Tinto Group may choose to play it safe in its next choice of chief executive officer. With Jean-Sebastien Jacques heading for the exit after the destruction of a sacred Aboriginal site, Australian politicians are also piling on pressure for a local to be given the role. The mining giant should resist the temptation of an old-school solution.
Jacques’s successor will certainly have to rebuild Rio’s credibility after the spectacular failure at Juukan Gorge. Repairing frayed community and government relations will be among the first tasks. It won’t be enough to pick a veteran technocrat for CEO, though, as miners did after the mistakes of the last boom. He or she won’t be able to repeat the trick that saw French-born J-S, as he is widely known, hand back billions to shareholders.
SIGN UP FOR THE IRON ORE DIGEST
The new boss will have to show Rio understands the iron ore business, which accounts for more than 90% of earnings and where prices are softening. Longer-term reconstruction will also involve resolving large, troublesome projects in Guinea and Mongolia, and positioning the company for greener growth. A steady hand on the tiller, while necessary, won’t be sufficient.
Jacques, who took the top job in 2016 at 44, did plenty of things right. Rio has distributed $38 billion in cash returns since that year, including 2020’s interim dividend, and the shares have doubled. He extricated Rio from the Freeport-McMoRan Inc.-operated Grasberg mine in Indonesia. And he sold out of coal at a laudable price, well before peers began to rush for the door — even if the environmental, social and governance halo that came with both of those departures didn’t last.
The outgoing CEO has also left plenty of problems for his replacement, well beyond the public relations disaster in Western Australia. A unit he set up to invest in green-economy materials has yet to make its mark. Mongolia, where Jacques’s role in settling a previous dispute was key to his elevation, remains a technical, financial and political headache. The future of the giant Simandou iron ore mine in Guinea is also unclear. Least defensible of all, he stopped short of putting the miner on a decisively carbon-light track, failing to set targets for lower emissions beyond the company’s own operations.
To make matters worse, his premature departure could hardly have been messier. As a result, a tainted CEO remains in place temporarily, while the chairman and board who will pick his replacement are badly sullied, too. They underestimated the problem and initially backed the forceful Jacques. They also failed to adequately prepare for his succession.
Yet while the Anglo-Australian miner has suffered a reputational hit, its core operation is still producing impressive margins. It’s an enviable position that gives the company room to do more than bask in the iron ore price, even if investors are wary of radical moves — its shares rose after Jacques’s departure, on relief that big investments are off the table for now.
One option to signal willingness to change is to pick an outsider, preferably one with operational expertise to appease investors, but also enough familiarity with Rio to grapple with the culture and its problems. That could be rail freight operator Aurizon Holdings Ltd.’s Andrew Harding, a former Rio iron ore boss passed over for the top job in 2016, if his Pilbara record holds up after Juukan Gorge.
Otherwise, gold miner Newmont Corp.’s Tom Palmer, who previously worked in iron ore, or Newcrest Mining Ltd.’s Sandeep Biswas. Better yet, Rio could pick a female leader. Worthy candidates include Zoe Yujnovich, a one-time boss of Rio’s Canadian iron ore venture, before she left for Royal Dutch Shell Plc in 2014.
Outsiders can be slow to bring on board, though, and Rio cannot afford to wait six or 12 months. Insiders, then, come into view.
The new chief will have to rebuild bridges. Besides Western Australia, this matters in Mongolia, where Rio is in arbitration over tax payments. In Guinea, there is an election on the horizon. That may point to Mongolian-born Bold Baatar, who has been involved with the Oyu Tolgoi operation and is now in charge of Simandou, as part of energy and minerals.
Former bankers make deal-wary shareholders uneasy, though. That suggests instead aluminum boss Alf Barrios, who has led a turnaround and proved he can tune in to clients’ green demands. China, a key consumer of Rio’s iron ore and other metals, has just promised to be carbon neutral by 2060, a warning worth heeding. Change isn’t easy, as BP Plc has shown. Adapting to the zero-emissions reality will be less dramatic for Rio, but no less necessary.
One person can’t fix all these things, of course. A final step will be to refresh Rio’s underwhelming board, particularly with ESG and community relations experience, given mining in the Pilbara won’t be the same in the next decade and beyond. There’s room here for that extra Australian voice that Canberra is demanding, perhaps in the chairman’s spot.
Jacques’s abrupt departure has offered the world’s second-largest miner a chance to course-correct. Rio would be foolish not to take it.
(By Clara Ferreira Marques)
 
...


64x64

Mongolia wins 4th gold medal from International Mathematical Olympiad www.montsame.mn

Ulaanbaatar /MONTSAME/. The 61st International Mathematical Olympiad was held online on September 21-22. At this year’s olympiad, O.Misheel had great success, winning the gold medal. In the history of the Olympiad, it is the 4th gold medal by Mongolian students.
Under the coaching of B.Batbayasgalan and U.Batzorig, a total of 6 students participated in the Olympiad, namely M.Unubold (School No.1), O.Misheel (Shine Mongol school), A.Nyamdavaa (Sant school), B.Khantushig (School No.11), B.Batsambuu (Olonlog school), and D.Enerelt (Sant school). With two silver medals won by M.Unubold and A.Nyamdavaa and a bronze medal won by B.Khantushig alongside O.Misheel winning the gold, the Mongolian students ranked 29th as a team.
M.Unubold won the 3rd gold medal for Mongolia from the International Mathematical Olympiad in 2019, whereas A.Nyamdavaa has also recently won the first ever gold medal for Mongolia from the International Olympiad in Informatics this year.
...


64x64

Khovd Eco Cement Plant to satisfy western region's demand www.montsame.mn

Khovd /MONTSAME/ The construction of Khovd Eco Cement Plant with a planned annual capacity of 300 thousand tons is currently 60 percent complete. A group led by Speaker of the State Great Khural G.Zandanshatar recently visited the construction site in the aimag's Buyant soum.
Ten local companies with 450 workers are building 32 separate structures of the large project. The plant can supply low-priced cement to the five western aimags which buy cement double the price in Ulaanbaatar for their yearly use of around 220 thousand tons of cement in total.
The plant is also expected to reduce apartment prices by 30-40 percent, create 2,000 new jobs, improve citizens’ living environment, and open up opportunities for major development projects. More specifically, with the opening of the plant, the average price for apartment in the western region will decrease from MNT 1.1 million per square meter to MNT 850-870 thousand.
...


64x64

Mongolia reports 2 more recoveries from COVID-19 www.akipress.com

Two more patients recovered from coronavirus and were discharged from hospital in Mongolia over the past day.
No new cases of Covid-19 infection have been found in the country, according to the National Center for Communicable Diseases.
Mongolia has conducted 1,626 tests for coronavirus in the last 24hours, and all of them came out negative.
So far Mongolia confirmed a total of 313 cases, 305 recoveries and no deaths from Covid-19.
...


64x64

Sambists involved as Olympic sports complex launches in Mongolia www.insidethegames.biz

The Mongolian Sambo Federation (MSF) played a part in initiating the construction of a new Olympic sports complex in the county's capital Ulaanbaatar.
The facility is expected to be finished prior to the nation's hosting of the International Youth Green Games in September 2021, and follows the aim of the event to create sustainable goals to keep sport and the Earth safe in the future.
Eighteen sports venues in the capital and its suburbs are planned to be used for the Games, with Mongolia bidding to reconstruct some buildings and complexes as well as build new ones.
Initiating the construction of the Olympic sports complex were the President of the MSF, Dorjpalem Gerel, and the secretary general of the MSF, Batbayer Ariun-Erdene.
The vice-president of the MSF, Angar Khaliun, international relations manager Munkhbayar Perenley and coach Bayarsayhan Zhamsrandorj were also part of the process.
A ground breaking ceremony at the complex took place in Ulaanbaatar with representatives of the MSF taking part as work at the facility began.
The sports complex will be open to both training sessions and international competitions, and will include facilities for football, basketball, fitness and other sports.
"The Olympic complex is the dream of our generation," said the MSF in a statement.
It is expected that the complex will be completed by December.
...


64x64

Vossloh supplies fastening systems for new heavy-haul line in Mongolia www.vossloh.com

Vossloh won a first contract for the supply of rail fastening systems for a heavy-haul line in Mongolia. The about 270 km long line will connect the Tavan Tolgoi with Gashuun Sukhait port at the Chinese border. After its completion, about 30 million tonnes of goods, primarily raw materials for steel production, will be transported on the new rail link each year – with significant environmental advantages compared with the current road haulage. The deliveries of the fastening systems started some time ago, and an approximately 70 km long section has already been completed. Under the current plans, construction work will be completed by the end of 2021.
For the haulage of the extreme loads on the wide gauge track through the steppe landscapes and the Gobi desert, the line will be equipped with Vossloh’s innovative rail fastening system W 30 HH. This system is ideally suited for the demanding climatic conditions, such as extremely hot summers and winter temperatures down to minus 40 degrees Celsius, as well as for the challenging soil conditions in Mongolia. The system first proved itself on the test track constructed in 2017 near the capital Ulaanbaatar and has since been used successfully in various projects.
Also the many years of global experience and the capacities and quality standards in combination with the technology center at the production site in Werdohl convinced the delegation of the Mongolian company Bodi International.
Werdohl, September 28, 2020
...


64x64

MIAT’s Boeing 737-800 to conduct two flights between London and UB www.news.mn

This week, MIAT Mongolian Airlines plans to operate charter flights with the UK, operating between London’s Heathrow and Ulaanbaatar, using its Boeing 737-800 aircraft.
On 28 September, service operates as London Heathrow – Moscow Sheremetyevo – Ulaanbaatar, followed by London Heathrow – Nur-Sultan – Ulaanbaatar on 3 October.
The operational schedule and technical stop listed remains subject to change.
...


64x64

GMIT to collaborate on artificial intelligence research with Chimege Systems of Bolorsoft LLC www.montsame.mn

Ulaanbaatar/MONTSAME/. On September 25, the German-Mongolian Institute for Resources and Technology (GMIT) signed a Memorandum of Understanding with Bolorsoft LLC during the official grand opening for ‘Chimege’ system launch.
Chimege Systems is a startup company, founded to develop artificial intelligence (AI) solutions in the Mongolian language. Their goal is to develop and implement AI applications to support human-to-computer interactions.
S.Badral, a founder of Chimege Systems, highlighted that the ‘Text to Speech/Speech to Text’ solutions have already reached an outstanding accuracy of 96%. To improve the recognition rate even further and develop new solutions for the Mongolian and international markets, Chimege Systems will establish a professional AI research center in Ulaanbaatar.
The agreement is the first Memorandum of Understanding between the AI company and a Mongolian state university. To the core, the GMIT emphasizes applied and interdisciplinary research activities in the field of engineering and technology: “As a dedicated research university, our professors and students are very excited about this collaboration, and we will support Chimege Systems and its AI research center to reach the next level,” said Prof. Dr. Battsengel Baatar, Rector of GMIT.
Source: GMIT
...


  • Terms of Reference
  • About
  • Contact Us

Managed by: B2BMongolia www.b2bmongolia.com

Events

News

Facebook