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

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Australia to tighten rules on states' and universities' foreign deals www.bbc.com

The Australian government is planning to introduce legislation which would enable it to veto agreements made by local governments and public organisations with foreign governments.
The foreign relations bill would require any deals with foreign countries to get final approval from the foreign affairs minister.
PM Scott Morrison said it was vital that Australia "speak with one voice".
The move may threaten a controversial deal Victoria state agreed with China.
The state's decision to sign up to China's Belt and Road initiative - a global infrastructure project that aims to expand global trade links - drew criticism from the federal government, as well as US Secretary of State Mike Pompeo.
Chinese-government run Confucius Institutes operating at Australian universities could also be affected by the new laws, amid growing alarm at what Canberra has called unprecedented levels of foreign interference on campuses.
How reliant is Australia on China?
Under the new powers, which are subject to parliamentary approval, all states and local governments, as well as universities, must notify the federal government of their existing agreements with foreign governments. Any further negotiations they enter into will also be subject to approval by the foreign affairs minister.
The Sydney Morning Herald reports that there are at least 19 agreements by states and territories, 11 by local government and 12 by universities that will be scrutinised by the federal government.
"It is vital that when it comes to Australia's dealings with the rest of the world we speak with one voice and work to one plan," Prime Minister Morrison said, announcing the legislation.
"Where any of these agreements undermine how the federal government is protecting and promoting our national interests they can (be) cancelled."
New agreements would be signed off by Foreign Minister Marise Payne, who said: "It is vital for Australia's prosperity, security and sovereignty that our foreign policy is driven by our national interest."
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Mongolia extends heightened state of readiness until mid-September www.xinhuanet.com

The Mongolian government on Tuesday extended the country's heightened state of readiness for another 15 days until Sept. 15 amid the COVID-19 pandemic.
The decision to extend the heightened state of readiness was made as part of efforts to prevent the spread of the COVID-19, the government's press office said in a statement.
As of Tuesday, the Asian country has confirmed 298 COVID-19 cases, all imported.
Thanks to the early introduction of social distancing and rigid health protocols for cross-border flows, no local transmissions or deaths have been reported in Mongolia so far. Enditem
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Gazprom to set up a company in Mongolia for gas supplies to China www.todayonline.com

MOSCOW - Russia's Gazprom <GAZP.MM> plans to set up a company to prepare to build another gas pipeline linking Russia to China but that will run through Mongolia, the Russian gas producer said on Tuesday.
Gazprom currently operates the Power of Siberia gas pipeline that connects Russia directly with China and is considering to build up more routes to increase annual supplies to China to 130 billion cubic metres at some point. REUTERS
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Special purpose company established for feasibility study of gas pipeline project www.montsame.mn

Ulaanbaatar /MONTSAME/. A Memorandum of Understanding (MoU) on the establishment of a joint Mongolian-Russian special purpose company to develop a feasibility study of the project on building pipelines between Russia and China going through the territory of Mongolia was signed today. The MoU was signed by Deputy Prime Minister of Mongolia Ya.Sodbaatar and Deputy Chairman of the Board of Directors and the Chairman of the Management Committee A.Miller on behalf of their respective Governments.
The participants of the meeting noted that the realization of the project to build Power of Siberia-2 gas pipeline connecting Russia and China though the territory of Mongolia, which will transport 50 billion cubic meters of natural gas a year to China, has taken a step forward.
The meeting reviewed the implementation of the bilateral joint plan and agreed on further measures and activities to be taken by the sides. Next week, a “Confidentiality Agreement” will be established between Gazprom PJSC and Erdenes Mongol LLC.
At the request of the Russian side, Prime Minister of Mongolia U.Khurelsukh took part in the virtual signing ceremony and delivered an address.
In his address at the signing ceremony, PM U.Khurelsukh highlighted that the signing of a Memorandum of Understanding on jointly exploring the possibilities of implementing the project was one of the most important results of his official visit to Russia in December 2019.
Emphasizing that the successful implementation of the project is significant to not only enrich the comprehensive strategic partnership between Mongolia and the Russian Federation but also advance bilateral cooperation to a new level, the PM pledged to put special attention to the progress of the project and provide relevant support and assistance.
Gazprom PJSC, China National Petroleum Corporation (CNPC) and Erdenes Mongol LLC are working on the implementation of the project, reports the Media and Public Relations Department of the Government.
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US-China trade deal is still alive & making progress despite escalating tensions, officials say www.rt.com

Global markets remained steady on Tuesday after Washington and Beijing reaffirmed their commitment to their historic trade agreement even as the two economic giants have disagreements on multiple fronts.
Top US and Chinese officials in charge of the implementation of the trade deal – Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin – continued telephone discussions on Tuesday. The trade talks, originally scheduled for August 15, became the first formal conversation on the matter between the two sides since early May.
READ MORE
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In brief statements after the talks, both delegations described the deal’s progress as positive. China's Ministry of Commerce said that Beijing had “a constructive dialogue” with Washington, adding that the sides agreed “to continue pushing forward” the Phase 1 trade deal.
The US Trade Representative’s office (USTR) confirmed that the two countries are committed “to taking the steps necessary to ensure the success of the agreement.” However, Lighthizer's office also noted that the significant increases in purchases of US products by China were also part of the discussion, together with “future actions needed to implement the agreement.”
The call came as investors globally raised concerns over increasing tensions between the two economic superpowers. Chinese stocks ended slightly lower on Tuesday, with Hong Kong’s Hang Seng sliding around 0.2 percent and Shanghai Composite falling 0.4 percent. Elsewhere in Asia, stocks were trading higher, including in Japan, with its Nikkei 225 gaining around 1.4 percent.
Meanwhile, European stocks moved slightly higher, with markets in Britain, Germany and France trading in positive territory.
The Trump administration continues to attack Beijing over a slew of issues – from the handling of the Covid-19 outbreak to national security threats allegedly posed by Chinese tech companies. The last escalation saw Chinese tech firm ByteDance filing a lawsuit challenging the US government’s crackdown on its video app TikTok, which faces the threat of a ban in the US.
Chip supplier Qualcomm seeks to avert ‘costly’ US ban on exports to Huawei – report
Washington also says Beijing is not holding up its end of the bargain in the trade deal amid the coronavirus pandemic. According to the agreement signed in January, China is supposed to buy $77 billion in additional US goods and services in 2020 and $123 billion in 2021 to meet the $200 billion total. Trade data suggests that China is far from reaching the target, despite recently boosting American farm goods purchases, including soybeans. According to the Peterson Institute for International Economics, China’s year-to-date total imports of covered products from the US stood at $40.2 billion, meaning that its compliance is less than 50 percent
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Covid-19: South Korea closes Seoul schools amid rise in cases www.bbc.com

South Korea has ordered the closure of all schools and kindergartens in the greater Seoul area following a rise in coronavirus cases there.
Nearly 200 staff and students have been infected in the greater Seoul area over the past two weeks.
Remote learning will continue until 11 September, the Ministry of Education said.
Health authorities have warned that the country is on the brink of a nationwide outbreak.
All students in the greater Seoul area, home to over 25 million people, will now take classes online with the exception of those in their final year of high school who are due to take university entrance examinations in December.
Schools with fewer than 60 students and special education schools are allowed to choose whether to follow the ministry's guidelines, the Korea Times said.
Most of South Korea's schools reopened in stages between 20 May and 1 June after cases in the country appeared to fall.
South Korea has reported 310 deaths and 17,945 cases since the pandemic began, according to data from Johns Hopkins University.
The country had been viewed as one of the world's coronavirus success stories for its management of the disease - however in recent weeks infections in the country, particularly the greater Seoul area, have increased.
On Tuesday, 280 new Covid-19 cases were reported - the 12th day of triple digit increases in a country used to case numbers below 30.
Many of the new infection clusters are linked to a number of right-wing Protestant churches whose members took part in a mass rally in Seoul just over a week ago.
Authorities in Seoul have ordered masks to be worn in indoor and outdoor public places for the first time. Churches, nightclubs and karaoke bars have also closed.
The government has warned that if cases continue to rise, tougher social distancing rules could be enforced. It could mean that many businesses across the country would have to close for the first time during the pandemic.
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Rio Tinto’s weak response to cave blasts will trigger stronger reaction www.mining.com

(The opinions expressed here are those of the author, Clyde Russell, a columnist for Reuters)
Rio Tinto may have inadvertently triggered the law of unintended consequences with its blasting of an Aboriginal heritage site at one of its Australian iron ore mines, and the subsequent slap on the wrists for some senior executives.
The board of Rio cut the bonuses of three senior executives including Chief Executive Jean-Sébastien Jacques as part of the company’s review into the destruction of two historically significant caves in Western Australia state, against the wishes of the Aboriginal traditional owners.
Rio, which overtook Brazil’s Vale as the world’s biggest iron ore miner last year, destroyed the Juukan Gorge caves in May as part of an expansion of its Brockman 4 mine.
hile the blasting met legal requirements, Rio has faced a public and investor backlash for allegedly putting profits ahead of heritage, a view amplified by the revelation that the company had alternatives to destroying the caves but chose not to pursue them.
The Rio board review said there was no single “root cause or error” that resulted in the destruction of the caves, rather it was a “series of decisions, actions and omissions over an extended period of time.”
The board recommended improving procedures and setting up new processes to ensure this type of incident doesn’t happen again.
The board’s review likely fails what Australians refer to as the “pub test,” which means whether the average patrons of a typical bar believe the actions are reasonable and appropriate.
The loss of about $3.7 million in bonuses for the three executives is a very mild punishment, given their level of remuneration and the fact that Jacques, along with head of iron ore Chris Salisbury and Simone Niven, the executive responsible for corporate relations, bear responsibility for what has become a public relations disaster for the company.
The board’s soft-pedalling of the cave destruction was condemned by shareholder advocacy group the Australasian Corporate Centre for Responsibility, and several institutional investors.
While Rio will no doubt hope the issue blows over with the passage of time, it’s more likely that it leads to a renewed focus on environment, social and governance (ESG) issues.
Shareholders are becoming increasingly aware of the financial risks of companies that are viewed as not having leading ESG programmes and a culture of doing the right thing.
Social licence to operate, along with climate change, comes up often as the top concerns for miners, with a survey last year by consultants EY showing 44% of mining executives viewed keeping a social licence as their top concern.
Miners to change
Unfortunately, the Rio incident with the Juukan caves shows that miners may still have some way to go in order to be seen to be placing ESG issues at the heart of their operations.
Rio isn’t alone in this, with other leading mining companies seeming to fall short in this area, despite public commitments that it is their top priority.
Like Rio’s corporate affairs boss Niven, other miners have executives listed as having responsibility for ESG issues, such as outgoing BHP external affairs chief Geoff Healy, Tim Langmead at Fortescue Metals Group, Anik Michaud at Anglo American and Luiz Osorio at Vale.
Glencore is unusual among major miners in not having an executive with ESG responsibilities listed on its website.
But merely having an executive named doesn’t mean these people are among the most important decision makers in the companies they work for.
All the executives’ names above have additional responsibilities and none of them have a public profile worth speaking about.
In effect, they are largely invisible and take little or no public part in the debate over ESG issues.
This hardly speaks to mining companies that appear to view ESG issues as front and centre of their existence.
For companies to be taken seriously, it would likely take the appointment of senior executives, with real power over the decision-making process, to become involved in placing ESG at the heart of each company’s mission.
If Rio had somebody like this, somebody could have stopped the blasting even if the CEO wanted it to proceed, somebody who understood that the negative optics of blowing up the caves considerably outweighed the potential profits, then it may have avoided the current mess.
However, it’s likely that ongoing shareholder demands for increased ESG accountability, coupled with activism by interest groups, will force miners down the path of making ESG more than just the current statements of principle.
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WBC ranking update, “King Tug” climbs to top spot in featherweight www.montsame.mn

Ulaanbaatar /MONTSAME/. Silver medalist of London-2012 Summer Olympics, State Honored Athlete Tugstsogt “King Tug” Nyambayar (11-1-0, 9KOs) will face Mexican boxer Eduardo “Zurdito” Ramirez (23-2-3, 10KOs) for 12-round bout on September 19 in Uncasville, Connecticut at “Mohegan Sun Arena”.
After becoming the IBO (International Boxing Organization) Featherweight Champion in 2019, N.Tugstsogt challenged WBC featherweight titlist Gary Russel Jr. in February, 2020 whom he lost by unanimous decision, losing for the first time in his professional boxing career.
The WBC (World Boxing Council), last week, updated the rankings of boxers, announcing Tugstsogt’s top spot in featherweight.
Specifically, Jessie Magdaleno (28-1, 18KOs), who formerly held the number one spot in featherweight ranking, is now scheduled to fight Emanuel Navarrete (32-1, 28KOs) for the vacant World Boxing Organization (WBO) featherweight title this October which elevated Tugstsogt’s ranking to the top spot.
If Tugstsogt wins his fight against Eduardo Ramirez, he will be able to challenge Gary Russel Jr. once more for the WBC title.
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Mongolia brings home nearly 18,400 nationals due to COVID-19 pandemic: official www.xinhuanet.com

Around 18,400 Mongolian nationals stranded abroad due to the COVID-19 outbreak have been brought back home so far, the Mongolian Foreign Ministry said Monday.

"Since the COVID-19 outbreak, Mongolia has evacuated a total of 18,392 nationals on chartered flights and buses or trains from 53 countries across the globe," Lkhanaajav Munkhtushig, director general of the consular department at the ministry, told a press conference.

Meanwhile, a total of 12,461 Mongolian nationals staying abroad have applied to return home so far, said Munkhtushig.

As of Monday, Mongolia has confirmed 298 COVID-19 cases, with no local transmissions or deaths. Enditem

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China's steel output jumps to new record high in July as demand recovers www.rt.com

As the world’s second largest economy recovers from the coronavirus pandemic, its steel sector reached record high output last month, according to fresh industry data.
China produced 93.36 million tons of crude steel in July, or 3.05 million tons a day, which is over nine percent more than it did over the same period last year, Chinese media reported on Monday citing the China Iron and Steel Association (CISA). The figures coincide with data from the National Bureau of Statistics (NBS), released earlier this month.

July crude steel output exceeded the previous monthly record of 92.27 tons set in May. From January to July, China churned out 593.17 million tons of crude steel, with production rising 2.8 percent year-on-year, the NBS data showed.

According to the CISA, year-on-year production of pig iron rose 8.81 percent to 78.18 million tons last month, while rolled steel output was up 9.87 percent to 116.89 million tons.

China is the world’s top steel producer, but domestic consumption and exports dropped sharply at the beginning of the year as Covid-19 lockdowns paralyzed most industries. This resulted in huge losses for most manufacturers, including steelmakers. To offset the impact of the coronavirus outbreak, the Chinese government unveiled a massive stimulus package, including massive public infrastructure investment that eventually had a positive impact on steel production.

“As macro policies supporting growth consolidate economic recovery momentum, demand for steel in the downstream industry is expected to continue to grow,” the CISA said in a report.

China has become the first major economy to show signs of recovery and avoid recession amid the coronavirus pandemic. After the devastating first three months of the year, when the nation’s economy contracted by 6.8 percent, its gross domestic product (GDP) gained 3.2 percent in the second quarter.

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