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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Ghost of Tsushima: Mongols are the bad guys in Japanese game www.news.mn

In Ghost of Tsushima, the Mongols are definitely the bad guys. Ghost of Tsushima is made by Washington-based studio Sucker Punch Productions, its first new PlayStation 4 game in six years.

Ghost of Tsushima takes players to 13th-century feudal Japan, transporting them to a time when the legendary samurai fought to protect the country from Mongol invaders. Specifically, the game takes place in 1274 during the invasion of Tsushima Island, a real historical event that would mark the start of a Mongol campaign against Japan.

At the centre of the real invasion of Tsushima Island in 1274 was Kublai Khan, the grandson of Genghis Khan, the famous first emperor of the Mongol Empire. Kublai Khan was the fifth emperor of the Mongols, whom he ruled from 1260 to 1294. By the time that Kublai Khan decided to invade Japan in an effort to expand his territory further, the Mongol Empire already stretched across most of Asia and parts of Europe. It was the largest contiguous land empire in history, although the British Empire remains the largest empire in history in terms of maximum land area.

In 1266, Kublai Khan sent emissaries to Japan with a letter of invitation to join the Mongol Empire as “nobody would wish to resort to arms.” After Japan rejected the invitation, Kublai Khan dispatched several more emissaries between 1268 and 1272, all the while building up his army and preparing his naval fleet to take Japan by force.

Kublai Khan’s first target was Tsushima Island, which is located between Korea and Japan. At the time, the Mongol Empire ruled the Korean Peninsula, making it the perfect launching point for the attack on Japan. Ghost of Tsushima shows us an alternate version of what happened when the Mongol army landed in Tsushima on Oct. 5, 1274, led by the merciless Khotun Khan, a fictional character who seems to be a stand-in for Kublai Khan.

Unlike the events of the game, which sees Jin eventually push back the invaders and kill Khotun Khan, the real-life Mongol Empire completely slaughtered Tsushima’s forces, defeating the samurai led by the island’s governor, Sō Sukekuni, who may have inspired Lord Shimura in the game. The Great Khan’s conquest of the island was so complete that there was little uprising as the invaders moved on to Iki Island and then Kyushu, which is the main southern Japanese island.

According to historical accounts from that time, the Mongol army was only pushed back after landing on Kyushu’s Hakata Bay, where they faced fierce opposition from the samurai forces tasked with defending the island. Ultimately, the Mongol generals decided to retreat from the island.

It was during this retreat in November 1274 that a typhoon is said to have struck the Mongol fleet and almost completely decimated the invasion force. This storm was believed by the Japanese to be a “divine wind” – or ‘Kamikaze’ – sent to protect the country from the Mongols. At the time, some believed the “divine wind” was created by the Shinto god of lightning, thunder, and storm Raijin.

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Copper price surges to two-year high www.mining.com

Copper futures prices rallied on Tuesday after the agreement of a massive economic stimulus plan in Europe, optimism about a covid-19 vaccine and ongoing worries about pandemic-hit supply from top producer South America.

Copper for delivery in September trading in New York changed hands for $2.9750 a pound ($6,560 a tonne) in early afternoon trade, up 2% from Monday’s settlement.

Copper futures prices are on track for the highest close in two years and are now up by more than 50% from the covid-19 lows struck in March.

Top-listed copper miner BHP announced on Tuesday that it expects its copper output to fall by between 5% and 14% in its next fiscal year to end-June 2021.

BHP, which part-owns and operates Escondida in Chile, the world’s largest copper mine, said the expected fall in copper production is due to a reduction in its workforce related to covid-19 restrictions.

The Melbourne-based company now expects 2020-2021 copper output of between 1.48m – 1.65m tonnes, down from 1.72m tonnes produced in the year prior.

Copper price surges to two-year high
In a recent note, Capital Economics points out that output rates have fallen sharply in Chile, Peru and Mexico, which together account for 45% of global production.

Output is now at levels last seen in 2017 during a protracted strike at Escondida, which by itself is responsible for nearly 5% of worldwide production.

Surging Chinese imports
Customs data released last week showed China’s unwrought copper imports (anodes and cathodes) in June rose a stunning 50% from the previous month to 656,483 tonnes – a full 15% above the previous monthly record.

June cargoes were double that of the same month last year as the infrastructure and manufacturing sectors in China, responsible for more than half the world’s copper consumption, rapidly recover following the covid-19 slump.

Over the first half of 2020, imports totalled 2.84m tonnes – up 25% year-on-year and on track to easily beat 2018’s annual record of 5.3m tonnes.

June imports of copper concentrate fell unexpectedly, down 6% to 1.69m tonnes from May, but still up 8.4% from June last year, due to disruptions at mines in Peru, China’s top supplier.

Another indication of demand outstripping supply is the decline in treatment and refining charges. TC/RCs paid by miners to smelters have fallen to an eight-year low, a sign of competition between refiners for available concentrate.

For the first six months of 2020 imports total 10.84 million tonnes, on pace to surpass last year’s record-breaking tally of 22 million tonnes.

Hedge fund bulls
Commodity Futures Trading Commission data show hedge fund positioning in the copper market at its most bullish in two years.

Large-scale speculators like hedge funds have built long positions (bets that copper will trade at a higher level in the future) to pre-pandemic levels and at the same time cut shorts (bets that copper can be bought back at a lower price in the future).

As of Tuesday last week, the net balance was a collective long position of 41,309 contracts, up nearly 30% from the week before and the strongest expression of bullish sentiment since June 2018.

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Trump shifts rhetoric as he urges mask-wearing, warns of worsening pandemic www.reuters.com

WASHINGTON (Reuters) - President Donald Trump, in a shift in rhetoric and tone, encouraged Americans on Tuesday to wear masks if they cannot maintain social distance and warned that the coronavirus pandemic would get worse before it got better.

In his first press briefing in months focused on the outbreak, Trump urged young people to avoid going to crowded bars and maintained that the virus would disappear at some point.

Trump’s remarks were a change in strategy from his robust emphasis on reopening the U.S. economy after its long, virus-induced shutdown and represented his first recent acknowledgement of how bad the problem has become.

“It will probably, unfortunately, get worse before it gets better - something I don’t like saying about things, but that’s the way it is,” Trump told reporters.

Nearly 142,000 people have died in the United States from the highly contagious respiratory illness COVID-19, the most of any country.

The Republican president, who downplayed the virus in its early stages and once referred to mask-wearing as politically correct, has been reluctant to wear a face covering himself.

He wore one for the first time in public during a recent visit to a military hospital but has otherwise eschewed putting one on in front of the press.

Mask-wearing has become a partisan issue, with some supporters of the president arguing that requirements to wear one infringe on their civil liberties. Few people wore masks at Trump’s first rally since the pandemic in Tulsa, Oklahoma, earlier this summer.

As coronavirus cases skyrocket across the country, including in politically important states such as Florida, Texas and Arizona, Trump, who is trailing Democrat Joe Biden in opinion polls ahead of the Nov. 3 election, on Tuesday showcased a new position on the importance of covering mouths and noses.

“We’re asking everybody that when you are not able to socially distance, wear a mask, get a mask. Whether you like the mask or not, they have an impact. They’ll have an effect. And we need everything we can get,” he said.

Trump said he was getting used to masks and would wear one himself in groups or when on an elevator.

“I will use it, gladly,” he said. “Anything that potentially can help ... is a good thing.”

A Biden campaign spokeswoman said Trump’s assertion that his administration has had a “relentless focus” on COVID-19 was preposterous.

U.S. House of Representatives Speaker Nancy Pelosi, a Democrat, said in an interview with CNN that Trump’s new embrace of mask-wearing was a recognition of his mistakes in dealing with the coronavirus.

“This is not a hoax - it is a pandemic that has gotten worse before it will get better because of his inaction, and in fact clearly it is the Trump virus,” Pelosi said.

Trump referred to the virus as the “China virus.” The novel coronavirus outbreak began in the Chinese city of Wuhan.

STRATEGY CHANGE
Trump conducted the briefing on his own, without doctors or other members of the White House Coronavirus Task Force. His subdued tone contrasted with his previous calls to reopen the economy along with praise for Republican governors who did so and criticism of Democratic governors who implemented tough restrictions in their states.

U.S. President Donald Trump speaks during a coronavirus disease (COVID-19) response news briefing at the White House in Washington, U.S., July 21, 2020. REUTERS/Leah Millis
The strategy shifts come amid tension within his senior staff about the best way to discuss the virus with the American public and frustration among doctors on the task force that their advice is not being heeded.

The reopening has gone too quickly in some states, leading to spikes in cases and an ever-increasing number of deaths. Following Trump’s initial lead, some Republican governors have also resisted rules requiring that their populations wear masks.

“We’re … asking Americans to use masks, socially distance and employ vigorous hygiene - wash your hands every chance you get while sheltering high-risk populations. We are imploring young Americans to avoid packed bars and other crowded indoor gatherings. Be safe, and be smart,” Trump said.

Trump sought to leave some optimism about treatments even as he acknowledged the grim numbers at present.

“I think you’re going to see something over the next fairly short period of time - maybe very short period of time - having to do with therapeutics and vaccines that are very good,” he said.

Reporting by Alexandra Alper and Jeff Mason; Additional reporting by David Brunnstrom, Timohty Ahmann, Mohammad Zargha, Eric Beech and John Whitesides; Editing by Alistair Bell and Peter Cooney

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Speaker G.Zandanshatar visits construction site of oil refinery in Dornogobi aimag www.montsame.mn

Ulaanbaatar /MONTSAME/. Speaker of the Parliament G.Zandanshatar visited Altanshiree soum of Dornogobi aimag yesterday, July 21, and got acquainted with the construction process of the oil refining plant.

The construction of the plant’s road and railroad has been completed and a cast iron processing plant, at the initiative of Member of the Parliament B.Delgersaikhan, is being built based on the infrastructure.

The oil refinery plant which is being built with the soft loan of USD 1.236 billion of Exim Bank of the Republic of India is capable of refining 1.5 million tons of oil a year. Every year, Mongolia consumes 1.3 million tons of imported fuel worth approximately USD 1 billion. The increase of oil price on world markets negatively impacts Mongolia’s economy. By completing the oil refinery, Mongolia will not only be allowed to be independent from fluctuating oil prices on world market, but also will save USD 1 billion domestically.

Minister of Road and Transport Development L.Khaltar, MP B.Delgersaikhan accompanied the Speaker, becoming acquainted with the construction process.

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Bezos, beware! Elon Musk is now the FIFTH-RICHEST person on the planet www.rt.com

Tesla and SpaceX CEO Elon Musk’s net worth surpassed $74 billion as of Monday. According to Forbes’ Billionaires List, his fortune has nearly tripled since mid-March, making him the world’s fifth-wealthiest man.
The 49-year-old businessman, who ranked 31st globally as of March, with a net worth just under $25 billion, has now outpaced former Microsoft CEO Steve Ballmer and Berkshire Hathaway chairman Warren Buffett.

He joins these four moguls: Facebook’s Mark Zuckerberg ($90.3 billion), Microsoft’s Bill Gates ($113.4 billion), LVMH’s Bernard Arnault ($113.8 billion), and Amazon’s Jeff Bezos ($189 billion).

“I really couldn’t care less,” Musk said earlier this month in an email to Forbes about his net worth. “These numbers rise and fall, but what really matters is making great products that people love.”
The entrepreneur debuted on Forbes’ 400 Wealthiest Americans List in 2012 in 190th place, with a net worth of $2.4 billion. He had risen to become the world’s 37th-richest person as of January 1, 2020.

Tesla stock has skyrocketed 60 percent in just three weeks since June 29, and has tripled in value this year alone. It’s now the world’s most valuable car company, with a market cap of $304.5 billion, and is worth more than Ford, Ferrari, General Motors, and BMW combined.

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Flash Floods - Emergency Plan of Action (EPoA) DREF Operation n° MDRMN012 www.reliefweb.int

Flash floods have been occurring all around the country at different scales due to prolonged heavy rain fall since middle of June and still on going. The rainfall is averaged to be 50-60 millimeters across the country and the highest sum of precipitation was 85 mm in Bulgan province on 8 July 2020.

The flash floods and heavy rain has severely affected over 3,570 households and essential infrastructure including some main roads, bridges and electricity sub-stations in 10 provinces and 2 districts across the country. Hardest hit of the torrential rain and flash floods occurred between July 11-15th and most damages were caused during this period. From 16 June up to the point of writing this document, following infrastructure damages have been caused by flash floods: Khuvsgul to Bulgan province, Tuv province to Ulaanbaatar city, Arkhangai to Zavkhan province and Murun city to Khatgal soum in Khuvsgul province roads was severely damaged but those roads are repaired and in use as of 16 July 2020.

Currently, from Ulaangom soum to Bukhmurun, Davst, Sagil, Turgen soum roads and Burat Bridge in Bayan-Ulgii province have been unusably damaged and movement on these roads have been limited.

In Uvs province, 556 people are stranded due to flash floods and have been evacuated to school dorms, hotels in Sagil soum. Food security is becoming an issue due to damaged roads unable to transport the food items to the evacuated people as of 16 July 2020. Uvs provincial emergency commission has gathered and discussing what necessary actions must be taken to bring the evacuated people home. Provincial emergency commission preparing to mobilize rescue helicopter to rescue people with immediate needs including pregnant women, people with chronic disease.

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“Darkhan leather and hide processing complex holds capacity to diversify economy” www.montsame.mn

Ulaanbaatar /MONTSAME/. On July 18, Minister of Food, Agriculture and Light Industry Z.Mendsaikhan became acquainted with the operations of the complex of the National Center for Livestock Gene Bank and the Institute of Plant and Agricultural Sciences in Darkhan city.

During the working visit, the specialists requested the Minister to give more significance to the professional development of the staff, the renewal of equipment at the institute, and the requirement of additional staff members at the Gene Bank complex.

Minister Z.Mendsaikhan also became acquainted with the construction work progress for the leather and hide processing complex in Darkhan. The complex is especially significant in diversifying the economy of Mongolia, creating more economic pillars and job opportunities, highlighted the Minister. He then expressed that he will focus on resolving any further issues that may surface during the construction.

With the establishment of the complex, it will directly create 2,300 job positions in the light industry sector and an estimated number of over 5,000 job positions in the service provision sector. Factories that will be running their operations in the framework of the complex will have the annual capacity to process 10 million leather and hide, and wash and comb 10 thousand tons of wool and cashmere.

Consequently, the complex will positively affect the lives of 288 thousand herders which make 40 percent of the workforce of Mongolia, over 1,200 veterinarians, and over 2,400 citizens involved in commodities.

Construction is currently underway with the first factory building planned to be put into operation from August this year.

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"What development means in a post pandemic Mongolia?" www.montsame.mn

Ulaanbaatar /MONTSAME/ The United Nations Development Programme (UNDP) in Mongolia has commissioned an initiative to explore the answers to “What development means in a post pandemic Mongolia? What continues? What is restored? What can never be redone? What new opportunities now exist?”.

To look at transformation possibilities through the systemic lens to for the last 2 months, a Reference Group consisting of a small group of local experts participated in a series of structured conversations looking at transformational possibilities through a systemic lens. It has begun to construct a strategic argument or a logic that explores both what the pandemic has done and what needs to be done.

Now, using this work as a starting point, UNDP wishes to create conversation about the nature of the post-normal and challenges and opportunities that pose for Mongolia. As the next step in this process, the ‘Sounding Board’ of thought leaders and key influencers from different walks of life in Mongolia was formed. The first meeting of the sounding board was organized on 21 July 2020, at Novotel Hotel in Ulaanbaatar in hybrid format of in-person and virtual within the rules and regulations put by the National Emergency Commission.

In today’s meeting Elaine Conkievich, the Resident Representative of UNDP Mongolia, emphasized that when we deal with complex development challenges, there is no simple solution to complex development challenges. Therefore, the Government of Mongolia should make systematic decisions that cover economic and social spheres.

Mongolia is facing the most important period of COVID-19 pandemic today. Therefore the “Standing Board” touched that it is uncertain how the country’s socio-economic development policy to be coherent with current situation so far and expressed their consideration to develop and achieve new system coordinated with current situation urgently.

And through this session and transformation journey, UNDP wishes to foster and continue the conversation in a safe space for Mongolians. The next meeting on challenges facing in Mongolia in COVID-19 pandemic situation will take place in September.

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Over 20 Mongolian COVID-19 patients retest positive after recovery www.xinhuanet.com

More than 20 Mongolian people tested positive again for COVID-19 after they had recovered and been discharged from hospital, the country's National Center for Communicable Diseases (NCCD) said Tuesday.

"At least 23 out of 213 COVID-19 patients who had recovered and been discharged from the NCCD have tested positive again for the virus," Amarjargal Ambaselmaa, head of the NCCD's surveillance department, said at a daily press conference.

"However, our citizens have nothing to fear," said Ambaselmaa, because the 23 people retested positive when they were in 14 days of further observation at special facilities.

Meanwhile, Mongolia conducted 520 tests for COVID-19 in the last 24 hours and the results were all negative, with the national tally remaining at 287, the NCCD said in a statement.

All the 287 confirmed cases are imported ones, mostly from Russia, according to the center.

The country has reported no local transmissions or deaths so far.

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Silver price hits highest level since 2016 www.mining.com

Silver prices are latching onto gold’s rally, reaching their highest levels since 2016 on Monday, as concerns about the global economy and market dynamics continue to shift investor attention towards safe haven metals.

Spot silver advanced 4.3% to $19.90 an ounce by 4:00 p.m. EDT, while silver futures on the Comex exchange surpassed the $20 an ounce mark for the first time in more than three years, rising by as much as 2.7% to $20.34 an ounce.

The gold price rally also gained fresh momentum Monday. Gold for August delivery climbed 0.4% to $1,818.40 an ounce.

Silver, which just completed its best quarter since 2010, is getting an extra boost from concerns about the metal’s supply and bets on increased industrial demand for the metal, used in solar panels and other manufactured products.

Of 275 mining operations disrupted by the covid-19 pandemic around the world, the most affected were gold and silver mines, according to a report by S&P Global Market Intelligence. In Latin America, where much of the world’s silver is produced, the situation has worsened, with Mexico recently overtaking Italy in the number of virus-related deaths.

“Silver will continue to be pulled higher by the strong gold price and supportive financial conditions,” Morgan Stanley said in a second-half outlook that listed the precious metal as its no. 2 pick after copper.

“As real demand also recovers through the second half of the year, this will add further impetus to silver’s price, narrowing the gold-silver price ratio slightly.”

Morgan Stanley
Silver futures have climbed more than 40% since the end of the first quarter, surpassing the 14% gain for gold futures during that time. As silver prices have rallied, investors have been piling into exchange-traded funds backed by the metal, echoing a trend seen in gold. Global silver-backed ETF holdings rose 21% during the second quarter and hit a record this month.

Based on Monday’s prices, it would take about 92 ounces of spot silver to buy one ounce of spot gold, a ratio that is higher than the average of about 69 over the past decade. Some analysts said that suggests further gains may be in store for silver:

“Silver is currently trading at close to a record discount to gold, which should attract demand,” Goldman Sachs Group Inc. said in a note this month. “Silver often tends to lag gold at the beginning of a precious rally, and catch up to it as the rally continues and investors look for ways to diversify.”

Just last week, analysts at RBC Capital Markets raised their silver price forecasts by 16% in 2020, 17% in 2021 and 14% in 2022.

(With files from Bloomberg)

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