Ensada Tractron LLC – Developer of Agribusiness recently lead a tour of a New Holland plant (a brand of CNH Industrial) in Saskatoon, Canada. Though Ensada has organized several international tours for its local farmers in Mongolia in recent years, this particular visit provided a glimpse as to how Mongolia’s agriculture sector can improve sustainable production through precision farming technologies.

More than 40 percent of the country’s grain is grown in the Selenge province. However, crop production has recently been hindered by environmental obstacles, driving a growing interest for agri-tech solutions among the Mongolian farming community.

“In Selenge, farmers face challenges due to limited rainfall and need for an efficient way to conserve water and soil. Seeing farmers here in Canada successfully combat similar issues using New Holland’s tractors, combines, and especially the precision air drills, has been inspiring. These machines enable farmers to practice no-till farming, conserving soil moisture and preventing soil erosion, both of which are critical for our farms back home,” said Batnasan Dorlig, CEO of Shuren Taria LLC, one of the visiting farmers.

At the CNH Industrial facility in Saskatoon, the group was introduced to the cutting-edge production technology behind New Holland’s precision air drills, GPS-guided tractors, soil analysis and crop monitoring technology. Renowned for implementing world-class manufacturing (WCM) processes, the New Holland Saskatoon plant also houses a ground-breaking research and development center.

"New Holland not only understands the needs of farmers but also builds top-notch machinery to fulfil those needs. The production of the air drill was extraordinary - it is truly a masterpiece of technology and engineering. I am excited about the possibility of introducing such effective tools and technologies to Mongolia," Dorlig expressed.

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CNH INDUSTRIAL

CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company's regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions.

Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial's 40,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

The fourth China-Mongolia Expo has opened in Hohhot, the capital city of Inner Mongolia. The event fosters economic, cultural and trade exchanges between the two countries, and plays an important role in promoting the Belt and Road Initiative. Yang Shanshan reports.

Featuring beautiful Mongolian music and dance, the China-Mongolia Expo opens its doors this year under the theme "New pattern for opening up, New opportunities for development." Over 3-thousand companies from thirty-five countries and regions are participating in the expo, with over ten trade and investment fairs, forums and seminars taking place until it wraps up Sunday.

GUO ZHOUMING, Deputy Director-General of Department of Commerce, Inner Mongolia "Opening up is the hallmark of contemporary China. The 20th CPC National Congress stressed that China will fully and faithfully promote high-standard opening up, and accelerate efforts to foster a new pattern of development that features positive interplay between domestic and international economic flows. The central government is pursuing greater regional opening up, especially in the central, western, and northeastern regions. This is a brand new historical opportunity for Inner Mongolia's opening up to the outside world."

With Inner Mongolia expected to play a pivotal role in northern China's drive to further open up its economy, helping connect the Belt and Road Initiative to neighboring countries, international investors have flocked to join the fair.

KHAYANGAA BOLORCHULUUN, Mongolian Minister of Food, Agriculture and Light Industry "The trade cooperation between our two countries already reached up to 10-billion US dollars by 2021. By 2027, we're aiming to reach 20-billion US dollars. This is very important to us. The two governments will work together to ease trade and business barriers to promote cooperation between our two countries."

A diverse range of exhibitions are expected over the coming days, spanning green agricultural products, natural resources, clean energy, tourism, technology and more.

YANG SHANSHAN, Hohhot, Inner Mongolia "The fourth China Mongolia Expo aims to enhance trade cooperation between the two countries. It also presents an important platform for economic and trade cooperation and people to people exchanges in the wider Northeast Asia Region. Yang Shanshan, CGTN, Inner Mongolia."

At its regular session on September 6, 2023, the Cabinet made the following decisions:

An issue of Khalzan Buregtein Deposit will be resolved on the ground of the local authorities’ proposal

Issues related to reviewing complaints and suggestions submitted by the citizens of Khovd aimag following the visit of the Prime Minister of Mongolia and the special permits for the Khalzan Buregtein Deposit were presented and discussed at today's Cabinet session.

The Minister of Mining and Heavy Industry J. Ganbaatar and the Minister of Environment and Tourism B. Bat-Erdene were tasked to study and resolve the issue pertaining to the special permits for the Khalzan Buregtein Deposit located in the Myangad soum of Khovd aimag grounding on the suggestions of the local authorities in conformity with relevant legislation.

It was instructed to develop the State Policy on rare earth elements and rare metals in conformity with relevant legislation and submit to the Government session.

The Ministry of Mining and Heavy Industry conducted an inspection at the permit site of this deposit. The environmental management plan for 2023 exploration work was approved by the soum governor, but was not approved by the authorized environmental service specified in the legislation. Therefore, its activities have been temporarily suspended since April 29, 2023.

Foreign exchange reserves reach USD 3 billion 933 million

The Deputy Prime Minister and the Minister of Economy and Development of Mongolia Ch. Khurelbaatar presented the implementation of the Government Resolution No. 362 of 2022 "On some measures to undertake towards increasing the state's foreign exchange reserves" and the measures to undertake in the future. In connection with this presentation, related officials were instructed to connect the trading deals made at the Mining Products Exchange with the customs and tax automatic registration system, and register the deals and contracts on mining products made by state and local owned companies only through the exchange in the customs and tax automatic registration system.

As of the end of August 2023, foreign currency reserves reached USD 3 billion 933 million, increasing by 41 percent compared to the end of September 2022. "This ensures the stability of MNT exchange rate," said the Minister of Economy and Development.

Since the beginning of 2023, the total sales of "Erdenes Tavantolgoi" JSC, "Erdenet Industry" state-owned enterprise (SOE), "Mongolrostsvetmet" SOE, and "Darkhan Metallurgical Plant" JSC have amounted USD 2.5 billion.

As of September 4, 2023, a total of 4,966,000 tons of coal was openly traded as part of the open sales of minerals, of which 3,110,000 tons of coal were traded through on-line trading, and 1,856,000 tons of coal were traded through the Mining Products Exchange.

The court will have a document outlining its development policy

After discussing the draft resolution of the State Great Khural on the approval of the "Policy for the Development of Judicial Power," it was decided to support it in principle and forward some suggestions to the legislators.

The Strategic Plan of the Judicial Power was approved by the Resolution of the State Great Khural in 2000, which is still effective. Taking into account the recommendations made in connection with the assessment and conclusion of the implementation of this plan, a proposal on Mongolia's Judicial Power Development Policy goals, objectives, and measures has been developed in harmony with the objectives of the "Vision-2050”, Mongolia's Long-Term Development Policy, and other documents issued by authorized organizations and officials regarding the development and reform of the judicial power.

The Draft Resolution reflects the goals such as the guaranteed enjoyment of citizens’ rights to file in court, improvement of the openness and transparency of operations, ensuring the independence of judges and the independence of the courts, shaping responsible courts, ensuring compliance of the administrative management of the judiciary with modern requirements, continuous development of human resource capacity of the courts, increasing the quality and availability of court services, developing the infrastructure of court services, and creating a stable system suitable for handling cases.

Brief news

· Based on own request, J. Bold was released from his duties and Sukhbold Tumurbaatar was appointed as the Head of the National Police Agency. Colonel T. Sukhbold has been working as the Head of the Criminal Police Department since 2020.

· After discussing an issue of opening the Embassy of Mongolia in Tashkent, the capital of the Republic of Uzbekistan, it was decided to consult with the relevant Standing Committee of the Parliament.

Ministers and deputy ministers for communications and digital transition from over 70 countries took part in the Tallin Digital Summit on September 5, 2023. This year's summit was organized under the theme "Strengthening Democracy and Renewing Technological Agenda."

During his working visit to the Republic of Estonia, Minister of Digital Development and Communications N. Uchral met with the management of the Health and Welfare Information Systems Center and got acquainted with its activities.

The Minister was interested in the experience of digitalization of health and social protection services in Estonia and made a proposal to cooperate in introducing them in Mongolia. In particular, he proposed to cooperate in the areas of data-based decision-making in the provision and establishment of social care and benefits, use of artificial intelligence, IT audit and conclusion of systems with overlapped investments in the health sector, and re-engineering of existing systems.

The Health and Welfare Information Systems Center expressed its readiness to cooperate in the above areas. This Center (TEHIK) works in partnership with such organizations as the Ministry of Health, Social Insurance Council, National Institute of Health Development, Department of Clinical Medicine to introduce new digital services, reports the Ministry of Digital Development and Communications.

Ivanhoe Electric (TSX: IE) has released the results of an initial assessment (IA) analyzing the potential for an underground copper mine at its Santa Cruz project located west of Casa Grande, Arizona, powered predominantly by renewable energy.

The IA, which is preliminary in nature, envisions a 5.9-million-tonne-per-year copper mining operation with an estimated 20-year life. Life of mine (LOM) copper production is calculated at 1.6 million tonnes with average grade of 1.58% total copper (1 million tonnes will be in the form of 99% pure copper cathode, the rest being copper contained in a 48% copper concentrate).

The study focuses exclusively on the high-grade exotic, oxide and enriched domains of the Santa Cruz and East Ridge deposits, with combined resources of 2.7 million tonnes indicated grading 1.42% total copper and 27.3 million tonnes inferred grading 1.39% total copper.

However, there is potential for resource upgrades from the oxide domains of the Texaco deposit (900,000 tonnes indicated grading 1.05% total copper and 35 million tonnes inferred grading 1.06% total copper), and from the large primary sulfide domains at Santa Cruz (76.2 million tonnes indicated grading 0.88% total copper and 8 million tonnes inferred grading 0.92% total copper).

Copper recoveries of 95.4% are expected to be achieved through a combination of solvent extraction and electrowinning (SX/EW) and conventional froth flotation, as outlined by the IA.

On the project economics side, the IA projects Santa Cruz to have an after-tax net present value of $1.3 billion with an after-tax internal rate of return of 23%, using an 8% discount rate and an LOM copper price of $3.80/lb.

The study also estimates initial project capital expenditures of $1.15 billion and LOM sustaining capital expenditures of $980 million. A three-year construction period is contemplated to develop the underground workings and build the surface processing facilities.

Ivanhoe noted that the IA is designed to minimize environmental impact and minimize surface land disruption. As a result of the small surface footprint required for mining activities, the area expected to be required for the project would cover approximately one-third of the total land package, it says.

As a primarily “green” copper mine operation, the IA base case assumes 70% of the total electric power requirements for the project will be generated by onsite renewable infrastructure, enabling copper production with low carbon dioxide equivalent (CO2e) emissions (0.49 tonnes per tonne of copper produced for Scope 1 and 2 emissions). In comparison, the global mining industry average is approximately 3.9 tonnes of CO2e, Ivanhoe said.

Robert Friedland, executive chairman of Ivanhoe, says completion of the IA for the Santa Cruz copper project is an “important achievement” for the company as it works to advance a new source of responsibly produced ‘green’ copper in the United States.

“Our goal is to develop a modern copper mine that produces copper with among the lowest levels of carbon dioxide output in the industry; a product we think has the potential to attract a premium price in the future,” Friedland said in Wednesday’s news release.

“We believe the Santa Cruz copper project will become an industry-leading example of responsibly produced copper in the United States, and a source of high-quality jobs in Arizona during development and throughout its anticipated long mine life,” CEO Taylor Melvin added.

Shares of Ivanhoe Electric gained 1.1% by 12:50 p.m. EDT, giving the company a market capitalization of C$2.2 billion ($1.6 billion).

On September 1, 2023, a signing ceremony of the cooperation protocol for the implementation of “President sport complex” was held.

E.Zolboo, the Deputy Minister of Construction and Urban Development, signed on behalf of Mongolian party, and Luo Zhaohui, the director of the China International Development Cooperation Agency, signed on behalf of the People's Republic of China.

In the protocol, all issues related to the research, design, construction, management and operation of the "President Sports Complex" project named after the Presidents of the two countries were resolved.

The technical and economic basis of the project, the necessary basic research and design work were carried out by the Ministry of Construction and Urban Development in cooperation with the team of "Architectural Design and Research Institute of Tongji University" of China.

The complex has an area of 58.560 square meters for basketball, volleyball, soccer, swimming, tennis, table tennis, air tennis, squash tennis, boxing, wrestling, rock climbing, fencing, shooting, archery and fitness, yoga, spinning and cycling, a total of 19 types of sports.

The sport complex has an importance that children, youth and citizens can spend their free time properly, and athletes can achieve success in international competitions, Olympics, continental and world competitions.

It is planned to reach 70 percent of public utility works and services to be performed by the private sector this year and 100 percent in 2024. In this context, five works are being transferred to the private sector in stages.

Specifically, cleaning, service and waste transportation of roads and streets’ 95, maintenance and protection of green areas’ 99, lighting, maintenance and repair of public roads’ 100, urban landscaping, construction, sidewalk work’s 94, public toilet services’ 84 percent are transferred to the private sector. Three-year contract was signed with enterprises. As a result, the organizations were able to get investment loans, and the conditions for staff to work stably were made.

"Healthy future" campaign to be organized

In order to reduce maternal and child morbidity and mortality, the Health Department of the Capital city is implementing 20 activities in five areas. For example, it has organized training on comprehensive management of children's diseases and specialization in adolescent health. In addition to organizing events such as discussions based on serious cases of maternal mortality, Youth Cabinets were established in the districts. Preparations are being made for the "Healthy Future" campaign in order to expand training and advertising for teenagers, children and youths to prevent smoking and electronic cigarettes.

MEDIA AND PUBLIC RELATIONS DEPARTMENT OF THE GOVERNOR’S OFFICE OF THE CAPITAL CITY

The city of Ulaanbaatar has received permission from the Ministry of Finance, the Bank of Mongolia, and the Financial Regulatory Commission to issue bonds worth up to MNT 500 billion in the domestic market. Specifically, the Law on the Legal Status of the Capital City was revised and approved in 2021, and the city of Ulaanbaatar has the right to issue bonds in the financial market. In this way, Ulaanbaatar is able to follow the standards of major cities in the world and use more efficient means of financing to decide on major infrastructure investments and to work independently financially.

In the process of releasing Ulaanbaatar city bonds to the financial market, the lead underwriter will be “BDSec UtsK” JSC, and the sub-underwriters will be “TDB Securities UTsK” LLC and “Golomt Capital UTsK” LLC. In this context, the Governor's Office of the Capital city signed a cooperation agreement with the leading underwriters and sub-underwriters.

The leading underwriter "BDSec UTsK" JSC is a leading securities company in the industry, which has been continuously operating for 31 years since the beginning of the stock market relations in Mongolia. In 2006, the company became a public company through an IPO on the Mongolian Stock Exchange, and in 2021, it was selected as the "Best Broker" and "Best Investment Bank" of Mongolia. www.bdsec.mn

The sub-underwriter "Golomt Capital UTsK" LLC was founded in 2011, and is one of the market leaders, having performed 40% of all IPO and FPO underwriting services announced in the Mongolian market in the last five years. www.golomtcapital.com

Sub-underwriter “TDB Securities UTsK” LLC served as the domestic advisor for Chinggis Bond, which was issued for the first time in the international market by the Government of Mongolia. Since then, the company has attracted a total of 3.8 billion dollars of investment from foreign markets and has rich experience in international markets. Most recently, they offered US government bonds (Treasury Bill) to investors for the first time in Mongolia. www.tdbsecurities.mn

The leading underwriter, who will provide professional services as an intermediary and guarantor in the public offering of Ulaanbaatar bonds, was selected by the Procurement Department of the Capital city on the order of the Governor’s Office of the Capital city.

MEDIA AND PUBLIC RELATIONS DEPARTMENT OF THE GOVERNOR’S OFFICE OF THE CAPITAL CITY

The IESF World Esports Championship 2023 took place in Iași, Romania between August 26 and September 3, 2023.

A total of 16 teams from around the globe, including Mongolia, Sweden, Ukraine, the United States, and Egypt, converged to battle in the DOTA 2 tournament of the Championships with a prize pool of USD 100 thousand.

The Mongolian team, IHC E-Sports, topped Group B with a perfect 3-0 record, defeating teams from Jordan, Romania, and South Africa. In the Upper Bracket Semifinals, they lost to Kyrgyzstan 2-1, but they bounced back in the Lower Bracket and defeated the United States, Indonesia, and Kyrgyzstan.

The Grand Final was a close-fought battle between Mongolia and Myanmar. Myanmar took the first game, but Mongolia won the next two games and became a World Champion. Winning a major DOTA2 tournament was a historic achievement for Mongolia.