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    

Events

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

NEWS

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UK Visa Application Centre in Mongolia re-opens www.news.mn

Earlier yesterday (23 July), the UK Visa Application Centre in Mongolia re-opened although the county of three million has still yet to open its borders. Currently, the only flights arriving in Ulaanbaatar are repatriation charter flights. Under safety rules for preventing the coronavirus infection, customers may be asked to observe physical distancing, undergo temperature checks and be required to wear facemasks, subject to local authority guidelines. Applicants must have an appointment to visit the Visa Application Centre.

Customers exhibiting COVID-19 symptoms, including fever (37.8 degrees Celsius and above), coughs or difficulty breathing will be helped to reschedule their application submission for another day and will be advised to seek medical attention at the nearest healthcare facility of their choice.

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Mary Gostelow’s Amazing Virtual Experiences In Mongolia www.latteluxurynews.com

Want to learn Mongolian cooking or how to make a bow and arrow and then use them? Want to talk to Mongolian herders with a translator on the ground? Now, you can do it from the comfort of your Victoria verandah or wherever else you live. Dirk Bansemer, GM of Kempinski Hotel Khan Palace in Ulan Baator, has been arranging unique virtual experiences for those staying safe at home.

Mongolia went into lockdown from 24 February and this intrepid German, like so many of his colleagues globally, had a bit of spare time on his hands. He was out horseback riding with the local representative of Germany’s cultural trade mission, Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ). They hatched a plan to introduce Mongolia to a wider world via unique marketing at barely any financial outlay.

GIZ provided a Toyota Land Cruiser and VW Touareg and drove Bansemer and colleagues 300 kilometres to Dulaan Khan Village, in Selenge Province. The hotel’s team included its IT director and one of the signature Kempinski lobby hostesses (a lady in red), who took along her scarlet outfit for the actual streaming.

Mongolian villages consist of portable ger or yurt, felt-covered circular tents about 15 metres in diameter; as weather and animal migration demand, they can easily be moved. Dulaan Khan Village has nine such gers. One was given over for this project to Kempinski’s male team, another to ladies from the hotel and GIZ. Baggage included lots of tech equipment, plus a generator and a solar panel to supplement the village’s own power, which they correctly expected to be somewhat inconsistent.

For the first sessions, about 280 tuned in from all over the world. There were seven sessions, each 15-45 minutes long and all interactive. Kempinski’s corporate commercial director Amanda Elder has since widely shared how she was ‘chatting’ with a septuagenarian male, as he prepared such popular local Mongolian dishes as khorkhog, bits of lamb still on the bone cooked with onions over hot stones. The ‘Lady in Red’ translated throughout: all customer-facing employees at the 99-room hotel, currently housing diplomats and others stranded by closed borders, speak good English.

GM Dirk Bansemer is currently supporting, in 2021, a 10-week horseback expedition covering 3,000 kilometres from east to west of Mongolia, benefitting Misheel Kids Foundation

Mary Gostelow’s daily travelogue is at girlahead.com

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EUR 7.4 mln technical assistance to be provided to support employment and SDGs implementation www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Labor and Social Protection A.Ariunzaya on July 20 met with Resident Representative of the United Nations Development Programme (UNDP) in Mongolia Elaine Conkievich. The sides discussed the implementation of Sustainable Development Goals and the country’s response to the COVID-19 pandemic.

Minister A.Ariunzaya underlined the timeliness of the Government’s COVID-19 response in social protection and that the United Nation’s support has been of great importance in the implementation of the economic stimulus measures. She also informed the Resident Representative of the adoption of the Vision 2050 long-term development policy document, while mentioning the country’s development policy planning law that requires short-, medium-, and long-term development policies, and undertook to place special emphasis on the implementation of SDGs.

Informing that as part of the assistance from the European Union, EUR 7.4 million technical assistance will be provided for Mongolia to support employment and the implementation of SDGs, Ms. Elaine Conkievich said it may become necessary to provide social protection for the citizens who work and study abroad, but have returned home due to COVID-19. “We are now joining our efforts to support employment and small and medium enterprises in pandemic response,” the Resident Representative said, undertaking to focus on domestic violence prevention and improvement of youth engagement in SDGs implementation in the future.

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Silver price surges to highest in seven years www.mining.com

Silver futures climbed to the highest in seven years on expectations there will be more stimulus to help the global economy recover from the coronavirus pandemic.

Spot silver advanced 6.2% to $22.71 an ounce by 1:20 p.m. EDT, while silver futures on the Comex exchange rose by as much as 1,4% to $22.90 an ounce.

Silver prices have risen around 15% this week. Some analysts see the movement as the start of a bull run powered by low interest rates, resurgent investment demand, disrupted production and a recovery in industrial consumption.

“It’s a typical low-liquidity summer market where prices tend to be easier to push, especially when momentum has been established as per the trifecta of support,” Ole Hansen, head of commodity strategy at Saxo Bank A/S told Bloomberg.

“The closer gold gets to its record high the stronger the magnetic field will become and that could see it challenge that level before long.”

Lower returns on bonds have made it more attractive to hold gold and silver, and investors are stockpiling both in the hope they will hold their value as central bank stimulus unleashed during the pandemic erodes other assets. Gold prices also kept their upward momentum on Wednesday, passing the nine-year peak set during the previous trading day.

Consumption of silver in industries, such as solar panels and electronics, is also likely to increase as the economy rebounds, while silver mine output is projected by consultancy Metals Focus to fall 7% this year as the novel coronavirus interrupts operations.

At the same time, a weakening dollar is making silver cheaper for buyers with other currencies, fuelling the rally.

Analysts at Citi said in a note prices could rise to $25 over 6-12 months – outperforming gold – as investors move to protect their wealth and global economic activity improves.

However, a Reuters poll of 42 analysts and traders conducted this month said silver would average $20.03 an ounce next year.

Technical indicators show silver is overbought, suggesting that prices will struggle to move immediately higher.

Any weakness is a chance to buy, some traders say.

“A deep setback lower is looming,” tweeted Gianclaudio Torlizzi at consultancy T-Commodity. “I will be using the correction as opportunity to charge long. A new bull market has started.”

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Gold price surpasses $1,860 – highest since 2011 www.mining.com

Gold prices kept their upward momentum on Wednesday, passing the nine-year peak set during the previous trading day, as investors place bets more stimulus measures will ease the economic impact of the coronavirus pandemic.

Spot gold was up 1.0% to $1,860.43/oz by 11:30 a.m. EDT, after reaching its highest since September 2011 earlier in the day at $1,864.90/oz. US gold futures were 1.3% higher at $1,867.40/oz in New York.

“The fact that governments, central banks and pretty much everyone else are looking to more fiscal and monetary policy inputs is helping drive the yellow metal,” Michael Hewson, chief market analyst at CMC Markets UK told Reuters.

“With equities struggling to push higher, gold is likely to test $1,900/oz over the next few days and weeks,” Hewson said, adding that “only an improvement in the pandemic situation and the economy could stop gold’s bull run.”

Bullion has surged nearly 22% this year and is now within $70 of an all-time high, bolstered by low interest rates and waves of government stimulus to revitalize virus-hit economies.

Deepening negative yields in the US Treasury market are fueling gold’s recent rally, with five-year treasuries currently yielding -1.15% once the effects of inflation are stripped out, a seven-year low.

“ONLY AN IMPROVEMENT IN THE PANDEMIC SITUATION AND THE ECONOMY COULD STOP GOLD’S BULL RUN”

Michael Hewson, chief market analyst, CMC Markets UK

“Gold is a superior form of purchasing power protection and as real rates dive significantly below zero here, gold is relatively more attractive as a hedge,” Sprott Inc. CEO Peter Grosskopf told Bloomberg.

“The damage inflicted to the dollar as a result of fiscal spending and falling real interest rate due to monetary easing provide bullish factors for gold,” said Yuichi Ikemizu, head of the Japan Bullion Market Association. “As long as this environment continues, gold will continue to rise.”

So far this year, investors have poured record amounts into gold-backed exchange-traded funds (ETFs), increasing their holdings by 28% to more than 105 million ounces, according to data compiled by Bloomberg, taking the total value to $195 billion.

Silver boon
Silver is also posting a significant bull rally as the driving forces behind gold spill into other precious metals.

Spot silver jumped more than 8% on Wednesday — the biggest gain since March — and has been getting an added boost from supply concerns and optimism about a rebound in industrial demand.

Trading at more than $22/oz, the spot price has gained 14% in the past week and is near a seven-year high.

Silver for September delivery also rose as much as 8.3% on the Comex to $23.35 an ounce, the highest for a most-active contract since 2013.

“In the very short-term term the direction is still upwards,” Carsten Fritsch, a Commerzbank AG analyst, said of gold and silver. “You see that prices continue to march higher. There might be some setbacks, but these are just brief and short-lived and are being used as a buying opportunity.”

(With files from Bloomberg and Reuters)

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3,900 foreigners from 92 countries employed in Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/ In the second quarter of 2020, 3.9 thousand foreign workers from 92 foreign countries were employed with labour contract in Mongolia, including persons in employment work for pay or profit and persons in volunteer work without pay or profit.

Compared with the same period of the previous year, the number of countries decreased by 3 and the number of foreign workers decreased by 5.8 thousand persons (60.0%). Out of all foreign workers with labour contract in Mongolia, 3.2 thousand (82.3%) were male and 0.7 thousand (17.7%) were female.

From all foreign workers in Mongolia, 34.5% is from China, 8.0% is from Russian Federation, 7.3% is from Australia, 6.0% is from South Korea, 5.1% is from United States, 4.9% is from Vietnam, 3.9% is from South Africa, 3.8% is from Philippines, 2.8% is from Great Britain, 2.8% is from Canada and remaining 20.9% is from other countries.

Out of total foreign workers in the second quarter of 2020, 1.5 thousand foreign workers (40.2%) are working in mining and quarrying sector, 846 foreign workers (21.8%) are working in education sector, 606 workers (15.6%) are working in wholesale and retail trade, repair of motor vehicles and motorcycles, 247 workers (6.4%) are working in manufacturing sector, 125 workers (3.2%) are working in transportation and storage, 130 workers (3.3%) are working in administrative and support service activities, 111 workers (2.9%) are working in construction sector and 200 foreign workers (6.6%) are working in other sectors.

National Statistics Office

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Average market price of livestock products as of June www.montsame.mn

Ulaanbaatar /MONTSAME/ According to the report on the average market price of livestock in June 2020, the average price of castrated camel was at MNT 1.1 million, cattle was MNT 1.1 million, gelding was MNT 886.5 thousand, average price of wether sheep was MNT 185.9 thousand and average price of wether goat was MNT 126.6 thousand.

According to the report on the average market price of livestock in June 2020, the highest average price of a wether sheep was in Darkhan-Uul aimag at MNT 233.3 thousand, whereas the lowest was in Dornod aimag at MNT 143.6 thousand.

According to the report on the average market price of livestock products in June 2020, the highest average price of 1-kilogram white cashmere was in Bayankhongor aimag at MNT 60.0 thousand, whereas the lowest average price of a white cashmere was in Govisumber aimag at MNT 30.0 thousand.

According to the report on average market prices of livestock products in June 2020, the average price of cattle hide more than 2 meters was MNT 11.0 thousand and 1-kilogram white cashmere was MNT 46.5 thousand.

According to the report on average market prices of crop products in June 2020, the highest average price of a wheat bran (25kg) was in Dornogovi aimag at MNT 19.5 thousand, while the lowest was in Uvs aimag at MNT 11.3 thousand.

Source: National Statistics Office

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Industrial production in statistics www.montsame.mn

Ulaanbaatar /MONTSAME/ According to the preliminary results, the gross industrial output reached MNT 6.6 trillion in the first half of 2020, showing a decrease of MNT 1.9 trillion (22.5%) from the same period of previous year. This decrease was mainly due to the decrease in mining and quarrying gross output by MNT 1.6 trillion (26.9%) and manufacturing output by MNT 279.6 billion (15.7%), respectively. However, the electricity, thermal energy and water supply production output increased by MNT 14.0 billion (2.3%), respectively.

By the preliminary results of the first half of 2020, in mining and quarrying sector, gold and extraction of iron ore was increased by 15.9-42.4 percent compared to the same period of previous year. In manufacturing sector, alcohol, wheat flour, pure water, soft drink and juice and milk were increased by 7.6 percent to 14.2 percent compared to the same period of previous year. By the preliminary results of the first half of 2020, production of coal briquette and face covering was increased by 3.0 to 21.0 times more compared to the same period of previous year.

However, in mining and quarrying sector, extraction of brown coal, copper concentrate, flour spar, hard coal and crude oil were decreased by 5.3 percent to 69.4 percent. In manufacturing sector, cement, alcoholic beverage, concentrated coal, lime, copper cathode 99%, cashmere products, metal steel, meat, concentrated coal, combed cashmere and cigarettes were decreased by 7.2 percent to 68.7 percent compared to the same period of previous year.

By the preliminary results of the first half of 2020, the sales of industrial production reached MNT 7.1 trillion, decreased by MNT 3.0 trillion (29.8%) from the same period of previous year. This decrease was mainly resulted from the decrease of MNT 2.6 trillion (37.4%) in sales of mining and quarrying and MNT 387.6 billion (15.7%) in sales of manufacturing, while the sales of electricity, thermal energy and water supply were increased by MNT 11.8 billion (1.9%).

For the total sales of industrial production, MNT 3.9 trillion (54.1%) were from export, of which export of mining and quarrying was MNT 3.2 trillion (82.8%). For the sales of mining and quarrying production, MNT 3.2 trillion (82.8%) was comprised from the export, of which 71.7 percent was from mining of metal ores, 22.8 percent was from mining of coal and lignite, 2.8 percent was from extraction of crude petroleum, 2.7 percent was from other mining and quarrying products.

National Statistics Office

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EU to provide EUR 37.5 million for Mongolia's pandemic response www.montsame.mn

Ulaanbaatar /MONTSAME/ On July 21, Minister of Foreign Affairs N.Enkhtaivan met with Ambassador Extraordinary and Plenipotentiary of the European Union to Mongolia Traian Laurentiu Hristea

At the meeting, the Ambassador said EU will cooperate with the Mongolian side in all possible areas to further expand bilateral cooperation and that it has been decided that the union will provide EUR 37.5 million to Mongolia for its COVID-19 response through short-, medium-, and long-term projects.

Expressing his gratitude for providing assistance amid the global pandemic, Minister N.Enkhtaivan asked the Ambassador to support and protect the interests of Mongolians studying, working, and living in EU member countries.

The Foreign Minister also voiced his willingness to put emphasis on expanding economic relations and cooperation and boosting trade and investments between the two sides. Moreover, the EU Ambassador undertook to examine the Mongolian side’s proposal to establish factories of EU-standard products in order to leverage EU's Generalised System of Preferences.

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Russian national dies after release from isolation in Mongolia www.news.mn

A Russian national has died after being released from 21-days of isolation in Mongolia. Ms. A.Ambaselmaa, Head of the Surveillance Department of the National Centre for Communicative Diseases, has said that the Russian did not die of COVID-19, although Mongolian health officials had tested him for the disease.

Since 8 January, Mongolia has conducted COVID-19 tests on 14702 people; 287 of them were confirmed as having coronavirus. Fortunately, the virus has not taken anyone’s life; of those who tested positive, 213 people have been discharged from the NCCD after having fully recovered from coronavirus – leaving 74 people under treatment at the hospital. Currently, 36 people are under observation of the symptoms of coronavirus in resorts and 51 at home after having been released from the NCCD.

All Mongolian coronavirus cases are imported from 15 countries; most of them are from Russia.

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