The congratulatory letter sent from German Federal President Frank-Walter Steinmeier reads:

“Dear President of Mongolia Battulga Khaltmaa,

On the occasion of the Mongolian national holiday Naadam Festival, I would like to extend sincere congratulations to You on behalf of the people of German.

I am delightful that the Mongolian-German relationship is characterized by particular trustworthiness and traditionally close cooperation. Cooperation in the field of security policy and Mongolian-German partnership on mineral resources industry are just two of numerous examples.

I wish You and the people your country well-being and a happy and peaceful future.

Frank-Walter Steinmeier

President of the Federal Republic of Germany”

Despite the fact that a total of 12,853 Mongolians returned from 40 countries until today in an organized manner since the border restriction were imposed for concerns over COVID-19 outbreak, there are now more than 10,000 Mongolians in overseas countries in distressed living conditions. Therefore, the President ordered relevant officials to focus on increasing the frequency of repatriation charter flights and work more promptly for this matter.

President Battulga ordered Deputy Prime Minister Ya.Sodbaatar to present detailed report on the schedule of future charter flights, available possibilities and isolation facilities, etc.

The cabinet ministers were charged with responsibilities to continue with the implementation of the repatriation plan set until August 1 by the previous government and ensure preparedness of all sectors.

The meeting was attended by Deputy Prime Minister Ya.Sodbaatar, Minister of Foreign Affairs N.Enkhtaivan, Minister of Health T.Munkhsaikhan, Minister of Road and Transport Development L.Khaltar, Ambassador of Mongolia to China T.Badral and other officials.

Following the regular meeting of the State Emergency Commission held today, July 9, Mongolia is planning to bring back additional 9,884 Mongolians from 55 countries in the near future, including 3,000 people only in July, which is already twice higher than that of the previous month. Press Representative of the cabinet today reported that the new cabinet formed yesterday is expected sometime soon to discuss whether to extend the ongoing heightened state of preparedness, which include the border closure put in place for all passengers, beyond July 15.

According to him, a pregnant woman, who had been in quarantine in an isolation facility, was brought to the NCCD and delivered a baby boy. As of today, six pregnant mothers who are staying in isolation have given birth at the NCCD.

Moreover, 701 tests were carried out on July 8 and the test results all came out negative. Two more people have recovered: a 21-year old military student made recovery after 57-day treatment and another 37-year old student after receiving treatment of over 40 days.

Thus far, 197 cases of total 227 confirmed cases in Mongolia have made recovery. 30 people are undergoing treatment now, of whom 27 are in mild and other 3 are in serious health condition.

According to Didi, “the government seeks to support the development of the real economy sectors with innovative financial services.” Didi’s peak for daily ride-sharing orders has surpassed 30 million, said the company’s CEO Cheng Wei in early June, adding that the bike-sharing business saw daily orders reach 10 million.

China’s central bank set up a research team six years ago to explore the possibility of launching its own digital currency. In May, the bank revealed plans to have the digital yuan ready in time for the 2022 Winter Olympics. Limited trials are already underway in four cities across the country.

The digital yuan, which is projected to replace paper money, will be linked to the holder's smartphone number, with transactions taking place through an app. Users will be able to transfer money between accounts by tapping phones, much like having physical cash change hands. The currency will be legal tender, so it could be exchanged without needing a bank as an intermediary.

“It’s logical to expect gold to outperform most assets in an environment of unparalleled central-bank easing, and we foresee the precious metal maintaining the upper hand in most scenarios,” Bloomberg Intelligence senior commodity strategist Mike McGlone wrote.

According to him, slow economic recovery is going to put pressure on commodities, except for gold, which will head to its record high of $1,900 an ounce. “Depression-like global conditions should press the BCOM [Bloomberg Commodity Index – Ed.] below the 2016 trough and gold above its all-time high, about $1,900 an ounce,” he said.

Gold has been trading above its new base level of $1,700 an ounce since mid-April. “Every day that passes above this level builds a firmer base for the metal to make the next move in its stair-step rally,” McGlone said.

“The coronavirus is creating almost perfect conditions for commodity price deflation, central-bank easing and rising gold prices… Gold stands to be a primary beneficiary.”

The strategist added that, “Enduring US-China trade tension and an unlikely V-shaped global economic recovery keep our price view as unfavorable for broad commodities and favorable for gold. We see little to prevent the metal from reaching all-time highs and the Bloomberg Commodity Spot Index from extending its 2016 low.”

“We are exceptionally pleased with drill results from the new Midfield Southeast Zone, including one metre of 582 g/t gold within an intersection of 5.5 metres grading 126 g/t gold, in a near-surface region of the Bayan Khundii deposit,” said Peter Akerley, President and CEO. “A second intersection, 40 metres north, of 15 metres of 26 g/t gold, including one metre grading 338 g/t gold, confirms the existence of a new high-grade zone in an area that is currently classified as waste or low-grade material that could add meaningfully to resources during the early stages of the project.

“While we are rapidly advancing the Bayan Khundii development, with results of the project’s bankable feasibility study anticipated in the coming weeks, over the past six months we have demonstrated the potential of the Khundii gold district, with high-grade intersections at Bayan Khundii and Altan Nar, and the discovery of the Dark Horse prospect,” Akerley continued. “Further results are forthcoming from recent work at Striker and Dark Horse, where multiple instances of visible gold were encountered. We are developing follow-up drilling campaigns, prioritizing near-mine expansion opportunities that are expected to add to our established resource base.”

Intersected 5.5 metres of 125.9 g/t gold, including one metre of 581.6 g/t gold, in BKD-288, beginning 11.5 metres downhole; drilled 15 metres of 25.6 g/t gold, including one metre of 338 g/t gold, beginning at 14.9 metres, in BKD-274, 40 metres north of BKD-288; intersected anomalous gold mineralization in 16 of 18 holes, all within 25 metres from the surface;

Interpreted as the intersection of the stacked northwest-trending quartz adularia veins, with a north-south-trending conceptual feeder structure; target area classified as waste or low-grade stockpile material in the current resource; projected to be mined in year one of the current mining schedule.

Erdene has a mining licence for the Bayan Khundii deposit and plans to start producing gold in late 2021.

This is the first time Prime Minister of Mongolia appointing ministers of the cabinet in accordance with the recent amendments to the Constitution of Mongolia, which were adopted on November 14, 2019. The parliament, on July 7, approved the cabinet to have a total of 14 ministries, including 6 ministries of general function and 8 sectoral ministries. The newly-appointed cabinet members are:

Deputy Prime Minister - Ya.Sodbaatar
Head of Cabinet Secretariat - L.Oyun-Erdene
Minister of Environment and Tourism - D.Sarangerel
Minister of Defense - G.Saikhanbayar
Minister of Foreign Affairs - N.Enkhtaivan
Minister of Finance - Ch.Khurelbaatar
Minister of Justice and Internal Affairs - Kh.Nyambaatar
Minister of Labor and Social Protection - A.Ariunzaya
Minister of Construction and Urban Development - B.Munkhbaatar
Minister of Education and Science - L.Tsedevsuren
Minister of Road and Transport Development - L.Khaltar
Minister of Culture - S.Chuluun
Minister Mining and Heavy Industry - G.Yondon
Minister of Food, Agriculture and Light Industry - Z.Mendsaikhan
Minister of Energy - N.Tavinbekh
Minister of Health - T.Munkhsaikhan

As the Constitution of Mongolia reads, a member of the government shall be appointed or dismissed after presenting to the State Great Khural and President of the Mongolia, Prime Minister Khurelsukh presented the new ministers to President Kh.Battulga today, and afterwards, the ministers took the oath to the Parliament during today’s plenary session of the parliament.

Also the Constitution now allows only Prime Minister and up to 4 members of the government to hold the position of parliament member concurrently and to comply with this, following four members of the 17 ministers are current members of the parliament.

• Minister of Environment and Tourism D.Sarangerel

• Minister of Justice and Internal Affairs Kh.Nyambaatar

• Minister of Finance Ch.Khurelbaatar

• Head of Cabinet Secretariat, Minister L.Oyun-Erdene

When appointing the cabinet members, it is said the principle to fill the positions with professional appointment based on the nominees’ qualifications and professional standards has been followed