1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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Events

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

NEWS

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Asian markets start on firm footing on vaccine, U.S. aid hopes www.reuters.com

SYDNEY (Reuters) - Asian markets started higher on Monday, buoyed by hopes of a U.S fiscal package before the U.S. presidential elections next month and expectations of a coronavirus vaccine by the end of this year, though the mood was still cautious as infections jump.
The index has risen in eight of the last 10 sessions amid a rally in risk assets buoyed by hopes of a coronavirus vaccine and expectations of a so called “blue wave”, which would see the Democrats claim victory in November’s elections.
Boosting overall sentiment, drugmaker Pfizer Inc PFE.N said on Friday it could have a coronavirus vaccine ready in the United States by the end of this year.
Japan's Nikkei .N225 climbed about 1% while South Korea's KOSPI and Australian shares .AXJO were up 0.7% each.
New Zealand .NZ50 was a tad lower after Prime Minister Jacinda Ardern won a second term at elections over the weekend, having risen over the week in anticipation of such a result.
E-Mini futures for the S&P 500 ESc1 jumped 0.5% in early Asian trading after House Speaker Nancy Pelosi said on Sunday she was optimistic legislation on a wide-ranging coronavirus relief package could be pushed through before the election.
But with her negotiating partner, Treasury Secretary Steven Mnuchin, in the Middle East until Tuesday, such a timeframe would seem to be overly optimistic, analysts said.
Investors are also concerned about rising coronavirus cases to help curb the spread of the disease.
Global coronavirus cases rose by more than 400,000 for the first time late on Friday, a record one-day increase as much of Europe enacts new restrictions to curb the outbreak.
Investors now await China’s third-quarter gross domestic product (GDP), monthly production and retail sales due later in the Asia morning.
“Chinese growth has bounced back well from its early COVID-19 losses and this data will be key to identify how the economy has progressed,” said Steven Dooley, chief strategist at Western Union Business Solutions.
Later in the week, key events include minutes of Australia’s central bank meeting, the final U.S. presidential debate and global manufacturing indicators.
Action in currencies was muted with the U.S. dollar, usually perceived as a safe-haven asset, =USD flat at 93.696 against a basket of six major currencies. [USD/]
The euro EUR= was also unchanged at $1.1715.
Sterling traded near two-week lows at $1.2925 after UK Prime Minister Boris Johnson told businesses to get ready for a no-deal Brexit in case negotiations with the European Union fail to produce a free trade agreement.
“EU-UK trade talks are flirting with collapse,” ANZ economists said.
“UK Prime Minister Johnson said the UK needs to prepare for a no-deal outcome, as both sides cannot agree on a Canada-style FTA. Talks resume in London on Monday, but without the political willingness to shift ground, there is little the negotiators can achieve.”
In commodities, Brent crude futures LCOc1 added 5 cents to $42.98 a barrel, and U.S. West Texas Intermediate (WTI) crude futures CLC1 climbed 5 cents to $40.9 a barrel.
Spot gold XAU= was a shade firmer at $1,899.9 an ounce.
Editing by Sam Holmes
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Mongolia employees 4400 foreign workers www.news.mn

According to statistic office, Mongolia has employed 4400 thousand foreign workers from 92 foreign countries with labor contract in the third quarter of 2020. Compared with the same time of the 2019, the number of countries decreased by nine and the number of foreign workers decreased by 6000 thousand persons (57.7%).
Most foreign workers who employed in Mongolia were from China following 6.6 percent from Russian Federation, 5.9 percent from Australia, 4.6 percent from South Korea, 4.2 percent from Vietnam, 4.0 percent from United States, 3.4percent from South Africa, 2.9 percent from Philippines, 2.4percent from Great Britain, 1.7 percent from Japan and remaining 17.3 percent from other countries.
Some 1.7 thousand foreign workers are working in mining and quarrying sector, 709 workers in wholesale and retail trade, repair of motor vehicles and motorcycles, 614 foreign workers in education sector, 472 workers in construction sector, 294 workers in manufacturing sector, 217 workers in transportation and storage, 126 in administrative and support service activities, and 0.2 thousand foreign workers in other sectors.
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Workers picket over violence and nepotism in Mongolia www.industriall-union.org

The first ever picket in Mongolia’s energy sector gathered more than 20 workers at the state-owned Thermal Power Plant 2 SSH Co. (TPP2) on 12 October, with protestors raising their voices over violence against women union leaders and rampant nepotism in the company.
The workers, affiliated to IndustriALL Global Union through Federation of Energy, Geology and Mining Workers’ Trade Unions of Mongolia (MEGM), called on the government to act against a company head who assaulted MEGM’s company level union leader when she called out the company’s practices of nepotism.
The local branch of MEGM has campaigned against nepotism since June, demanding that the company stop hiring relatives of top management. These well-connected workers enjoy higher wages and benefits than other staff with higher positions.
MEGM president Buyanjargal Khuyag says:
“We strongly condemn the violence against a union leader. After the picket, we met with the minister of mineral resources and energy and demanded that action be taken to deal with the brutality and nepotism in the company.
“The minister promised to appoint a new chief executive officer for TPP2 and that executives involved in the violence and nepotism will be dismissed, if they are to blame. The ministry will also set up a working group to study workers’ demands.”
IndustriALL South East Asia regional secretary Annie Adviento says:
“I congratulate MEGM for taking swift action and defending women workers’ rights. This violent incidence shows the importance of eliminating violence in the world of work. I hope the Mongolian government, trade unions and employer association can push for the ratification of ILO Convention 190 on violence and harassment in the world of work.”
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PKF International welcomes new firm in Mongolia www.pkf.com

PKF International takes great pride in welcoming PKF-IFS Mongolia (formerly Integrated Financial Services) to the network.
PKF-IFS Mongolia was established in 2003 by a group of accomplished professionals to provide tax advisory services. The firm is one of the leading accounting, taxation and business consulting firms in Mongolia and is located in the heart of downtown Ulaanbaatar.
Amarbayasgalan Tamir, Managing Director of PKF-IFS Mongolia, commented: “The membership of PKF International will give us an edge to provide high quality professional services in assurance, tax and payroll in this fast growing market”.
PKF International CEO, Theo Vermaak, said: "We are really pleased to welcome PKF-IFS Mongolia to the PKF family as we continue to expand and strengthen the PKF brand. PKF-IFS Mongolia fits well with our value proposition of quality with Integrity, and also meets our strategic objective of global coverage with quality firms.”
PKF International welcomes the new firm to a network of over 20,000 professions operating in 150 countries across the word.
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Prime Minister addresses parliament's discussion on state budget bills www.montsame.mn

Ulaanbaatar /MONTSAME/. October 16, the State Great Khural – the Mongolian Parliament is convening for a plenary meeting. Bills of State Budget for 2021, budget for 2021 Social Insurance Fund, budget for 2021 Health Insurance Fund, budget framework statement for 2021, budget assumption for 2022-2023 are placed on the agenda.
At the meeting, Prime Minister U.Khurelsukh delivered an address concerning the draft documents on the government budget for the next year. The Premier noted that the package of measures to prevent from the COVID-19 pandemic, which is under implementation, has been instrumental for reducing the increasing budget deficit, carrying out online, transparent and profitable budgetary policy, proper debt management and economic growth.
“In the bills submitted to the parliament discussion, the equilibrated budget revenue has grown by MNT 2.1 trillion compared to the 2020 budget amendments to reach MNT 11.8 trillion and total expenditure reduced by MNT 325 billion to be MNT 13.9 trillion and the equilibrated budget deficit is proposed at MNT 2.2 trillion, equal to 5.1 percent of the total GDP. The government has been pursuing a policy to improve budget discipline, and counter-cyclical fiscal policy to restore the economy. Moreover, improvement of tax and customs system and reforms underway in budget spending and debt management are contributing to the economy to grow further.”
In his address, PM Khurelsukh also stressed that since he was appointed as the Prime Minister of the country, the government has paid off debts totaling MNT 3.9 trillion, as of September 2020. Thanks to the alleviated debt burden, there have been annual increases in the wages and state pensions, which had not grown since 2014.
He highlighted that the current government will be working to execute the debt management strategy approved by the parliament to repay public debts without imposing burden on the economy and government budget and aims to bring the average economic growth to 6 percent between 2021 and 2023.
For the budget bill for 2021, the government has planned following seven principal policy measures;
1. To support the economy without raising taxes, to expand tax base with the help of advance digital technology, to increase efficiency of state-owned companies, collect taxes fully from natural resources to increase budget revenues
2. Each and every Mongolian person will benefit from the educational and health sectors’ reform and changes.
3. Measures targeting to protect the citizens’ incomes and support business entities in response to the COVID-19 pandemic will continue in the first half of 2021.
4. The achievements made within the goal of air pollution reduction will be advanced. Government spending of payment imposed for raw coal consumption and oil royalty fees will be optimized, and gradual introduction and production of refined coal briquette will continue. The government is seeking to reduce air pollution in Ulaanbaatar city by up to 80 percent, advancing its past achievement of 50 percent as well as air pollution of centers of rural aimags.
5. Government services to become online to save public spending. Red tape and bureaucracy of government services will be reduced and become more transparent and faster. A good example of this goal is the recently-launched E-Mongolia digital platform of government services.
6. The increasing number of livestock animals will be coordinated with the sufficiency of grazing land. The budgets allocated to rural aimags will be increased, and rural aimags will be granted to exercise powers to tackle their own most-pressing issues on pasture management, desertification and supply of water and wells, etc depending on their own conditions, etc.
7. Capital investment to resolve critical problems faced by the society and local regions will be kept, including budget investment for construction and maintenance of schools, kindergartens, hospitals, auto roads, infrastructure facilities and cultural palaces in rural areas. In the 2021 budget, 1,030 projects and measures are planned with total investment of MNT 1,388.9 trillion from the state budget.
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Mongolia’s first AI news anchor debuts at ICT Expo www.montsame.mn

Ulaanbaatar /MONTSAME/ The 14th ICT Expo, the country's largest technology fair, took place between October 9 and 11.
One of the highlights of the event was the debut of Mongolia’s first artificial intelligence anchor, Maral, created by Chimege Systems Company. In the debut, the AI anchor had a brief conversation with President of Mongolian Software Industry Association (MOSA) Ts.Chuluunzagd in a booth where MOSA was hosting tech executives during the fair.
The MOSA President asked Maral the weather forecast, details about her, if she has all kinds of information and if he can ask anything from her, and about the place she was “born”. Maral answered every question without trouble and when Chuluunzagd asked her to tell about the place she was created, Maral inquired whether the question was about Ulaanbaatar, the capital of Mongolia, or Chimege Systems.
Incidentally, Chimege Systems, a Mongolian startup company founded in 2019, has developed the recently-launched Chimege Writer mobile transcription application.
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Twitter suffers widespread outage www.cnn.com

(CNN Business)Twitter, already under fire from lawmakers and regulators, appeared to go down altogether on Thursday.
An unknown number of users were unable to access the social network's website and mobile apps, with tracking website Downdetector recording more than 57,000 reports by 6 p.m. ET.
A Twitter (TWTR) spokesperson said the company was aware of the issue and was working to fix it.
"We have no evidence of a security breach or hack, and we're currently investigating internal causes," the spokesperson said.
The disruption comes a few months after a massive hack of some of Twitter's biggest accounts, including those belonging to Barack Obama, Joe Biden, Jeff Bezos and Kim Kardashian West, which regulators in New York this week said originated in a tech support scam.
Twitter, Facebook and other social media platforms are under increased pressure to prevent their platforms from being compromised ahead of the November 3 US election, while also clamping down on disinformation and conspiracy theories. The companies are also being pressed to do more to regulate content that appears on their platforms, with the Federal Communications Commission (FCC) gearing up to draft regulations intended for social media companies following a petition earlier this year by the Trump administration.
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His Holiness the Dalai Lama advises Mongolian followers to study Buddhism as science www.tibet.net

Dharamshala: His Holiness the Dalai Lama yesterday addressed an assembly (online) of Buddhist monks at Gaden Tegcheling monastery in Ulaanbaatar, Mongolia.
His Holiness said that Buddhism was not the primary bridge of Tibet and Mongolia’s relations as both their relations is said to have begun even before the spread of Buddhism to Tibet from India. Both being neighbours, they developed a longstanding historical and civilizational affinity.
“Buddhism gradually spread in Tibet and as an old saying goes, Buddhism is said to have travelled from north to north. From northern India, Buddhism originated and it spread northward to Tibet, Mongolia, and China, etc” said His Holiness the Dalai Lama.
His Holiness accounted that while he was in Tibet, he has met with many influential Mongolian Buddhist scholars and teachers. Among them, His Holiness mentioned that the best and most influential was a teacher named Ngodup Tsognyi from Sera Je.
Despite going through a difficult course of history, His Holiness commended the Mongolian for effectively preserving the faith and Buddhist heritage of Mongolia and advised them to benefit others through the Buddhist teachings.
Recounting one of his Mongolia visits in 1979, His Holiness explained that it was a difficult period for religious freedom, yet the Buddhist tradition had survived. “Despite everything, the Mongolian followers showed such zeal and dedication in preserving their faith that it brought me in tears”.
His Holiness asked the devotees especially the religious figures to pay more attention to studying Buddhist texts in the light of reason and logic and not studying it simply out of faith. He clarified that even the great scholars of Nalanda tradition analyzed and examined Buddhist teachings and a few times they refuted some of the teachings because it contradicted their logical analysis.
“Do not take the teachings of Buddha on faith alone but examine and confirm them using logical analysis” said His Holiness. He added that Buddhist teachings have a wider scope for benefitting others if it is evolved from a study of religion and faith.
His Holiness was invited by the Gaden Tegcheling monastery in Mongolia to address the assembled Mongolian monks at the Battsagaan Grand Assembly Hall.
Monks from both Sera Je and Deprung monasteries led by Mongolian Geshe Lharampas participated in the annual debate. The purpose of the debate is to maintain the studies of those Mongolian monks who had temporarily returned to Mongolia from their respective monasteries in South India due to the COVID-19 pandemic.
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Preliminary results of elections for Ulaanbaatar’s local councils www.montsame.mn

Ulaanbaatar /MONTSAME/. Polls have closed across Mongolia in the 2020 elections for the Citizens’ Representative Khurals - local councils.
Preliminary results are being updated at this moment as ballots being counted at the 2,148 polling places throughout the country following the closure of the polls where Mongolians voted to elect their new representatives at the local self-government bodies for 21 aimags and their 330 soums and capital city Ulaanbaatar, and its 9 districts.
17,149 candidates of 9 political parties and coalitions and independents ran for the local elections for 8,169 seats in total nationwide.
In particular, in aimag and capital city-level Citizens’ Representative Khural elections, 1,901 candidates vied for the 816 seats, while in soum-level elections, 14,388 candidates participated for 7,062 mandates, and 696 candidates for 291 seats at district-level local councils, according to the General Election Commission.
As shown in the preliminary results of the elections provided by the Election Commission of Ulaanbaatar city, out of 291 mandates for the Citizens’ Representative Khurals of 9 districts of the capital city, and 201 mandates went to the representatives from the Mongolian People’s Party, 75 seats to the Democratic Party representatives, 10 seats to the Mongolian People's Revolutionary Party, one seat to Mongolian Green Party candidate and one seat to an independent candidate.
Because two candidates from the Mongolian People’s Party and Democratic Party have received the same number of votes, ending in ties at an electoral constituency in Nalaikh District with 4 mandates, the second ballot to be held within 10 days as stated in the corresponding law on local council elections.
As of 45 seats of the Citizens’ Representative Khural of Ulaanbaatar city, candidates of the Mongolian People’s Party gained majority by winning 34 seats, Democratic Party won 8 seats and Mongolian Labor Party 3 seats.
Final results of the elections for local council bodies in 21 aimags and 330 soums are being collected and to be merged together in coming hours.
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Newmont CEO not interested in returning to Rio Tinto www.mining.com

Newmont CEO Tom Palmer is not interested in returning to Rio Tinto to replace CEO Jean-Sebastien Jacques, the Financial Times reported.
Prior to joining Newmont in 2014, Palmer was Chief Operating Officer, Pilbara Mines at Rio Tinto.
Jacques resigned over the backlash of the destruction of two 46,000-year-old Aboriginal shelters this year to make way for the expansion of an iron ore mine. Other senior executives — iron ore boss Chris Salisbury, and corporate affairs head Simone Niven, who had responsibility for indigenous affairs — will also leave the company.
Representatives of the Puutu Kunti Kurrama and Pinikura (PKKP) peoples sent communications as early as 2008, setting out the importance of the site before preservation efforts picked up in the months before the blast – but they went unheeded, the group said in a submission to a government inquiry.
“I joined Newmont in 2014, very deliberately,” said Palmer, who was born in the New South Wales mining town of Broken Hill. “I saw a company that had a vision that was aligned with mine. And I have not regretted that decision for one second.”
Higher gold prices helped generate significant free cash flow for Newmont in 2020.
The world’s largest gold miner’s adjusted net income for the June quarter was $261 million or $0.32 per diluted share, compared with $92 million or $0.12 per diluted share in the prior-year quarter. The results topped analysts estimates of $0.31 per share.
The company lifted its dividend by 79% earlier this year.
“I already have the privilege of leading one of the great mining companies in the world. I’ve got the best team I’ve ever had the privilege to work with. And we have some great opportunities in front of us. I am firmly focused on that,” Palmer told the Financial Times.
Rio Tinto may choose to play it safe in its next choice of chief executive officer. Australian politicians are also piling on pressure for a local to be given the role, according to Bloomberg:
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.
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