Ulaanbaatar /MONTSAME/ Following the Cabinet’s irregular meeting held today at noon, Prime Minister U.Khurelsukh presented the decisions made at the meeting.

The Cabinet decided that the government will pay utility bills (electricity, heat, water, and waste bills) of households and some enterprises for seven months with MNT 650 billion funding from Erdenet Mining Corporation. Specifically, from December 1, 2020, to July 1, 2021, the government of Mongolia will be responsible for the electricity, heat, water, and waste bills of enterprises except budget-funded entities, state-owned enterprises, mining extraction and processing facilities, banks, non-bank financial institutions, entities engaged in cryptocurrency activities, petroleum importers and sellers, telecommunications service providers, alcohol and cigarette manufacturers, and ferrous and nonferrous metal and concrete producers.

Moreover, it was decided to exempt every household in Mongolia from electricity, water, and waste bills and the ones living in apartments of up to 100 square meters from heat bills from December 1, 2020, to July 1, 2021 and increase the discount rate of refined coal from 50 percent to 75 percent with MNT 69 billion funding from Erdenes Tavantolgoi JSC. A household living in a home of 120 square meters, for example will have to pay the heat bills for the 20 square meters by themselves.

Ulaanbaatar/MONTSAME/. In the first 11 months of 2020, securities worth of MNT 39.6 billion were traded at the national stock market, which is decreased by MNT 117.1 billion (74.7%) compared to the same period of the previous year.

In November 2020, 17.2 million pieces of securities worth MNT 1.9 billion were traded at the national stock market, which is decreased by MNT 18.1 billion (90.7%), while the traded amount increased by 5.3 million (45.2%) pieces of securities compared to the same period of the previous year. The total worth of traded securities decreased by MNT 1.0 billion (35.9%), and traded securities decreased by 8.9 million pieces (34.2%) from the previous month.

In November 2020, the average of indices of the top 20 financial markets was 17541.3 units, increased by 83.2 units from the previous month, but decreased by 1064.0 units from the same period of 2019.

In November 2020, the total value of joint-stock companies operating at stock markets reached MNT 2.6 trillion, increased by MNT 32.8 billion (1.3%) from the previous month and increased by MNT 66.4 billion (2.6%) from the same period of the previous year.

Source: National Statistics Office

Ulaanbaatar/MONTSAME/. The national currency in circulation reached MNT 947.7 billion at the end of November 2020, decreased by MNT 12.1 billion (1.3%) from the previous month, but increased by MNT 87.5 billion (10.2%) from the same period of the previous year.

At the end of November 2020, the time deposit in domestic currency was MNT 12.4 trillion, increased by MNT 330.5 billion (2.7%) from the previous month, and increased by MNT 1.7 trillion (15.7%) from the same period of the previous year.

In the total time deposit in domestic currency, 89.5% (MNT 11.1 trillion) were deposits of individuals and 10.5% (MNT 1.3 trillion) were deposits of enterprises.

The time deposits in foreign currency was MNT 4.8 trillion, decreased by MNT 82.4 billion (1.7%) from the previous month, but increased by MNT 1.5 trillion (46.0%) from the same period of the previous year.

Source: National Statistics Office

Distinguished Delegates, Ladies and Gentlemen,

I wish to extend my sincere appreciation to the UN Secretary General Antonio Guterres, Prime Minister Boris Johnson and President Emmanuel Macron for initiating and organizing this summit in these difficult times of global pandemic.

As the pandemic is sweeping all over the world, there is a need to call more attention to climate change and take decisive and strong action to mitigate its negative impacts.

Developing solutions to combat and overcome climate change is the most pressing issue for Mongolia owing to its harsh continental weather and nomadic pastoralism.

Therefore, the Government of Mongolia approved its Nationally Determined Contribution (NDC), which incorporates targets to reduce greenhouse gas emissions identifying risks of all the sectors of the economy and all the walks of life and submitted the NDC to the Secretariat of the UN Framework Convention on Climate Change. In this document, the mitigation target was re-calculated from 14% to 22.7% in total national greenhouse emissions. Moreover, it is my great pleasure to announce that it is possible to further increase our commitment to 27.2%.

Mongolia developed a specific action plan to achieve its “determined contribution” target and is planning to carry out concrete measures. The implementation of some measures has been started given the time constraints. Namely, all the feasibility studies on the construction of a 1,000 km irrigation pipeline to the Gobi region, which is under threat of rapid desertification due to climate change, have been completed and it is ready to start the construction.

We, Mongols, are ready to mobilize all our resources because efforts and diligence from the whole of humanity is crucial to save Mother Earth, slow the pace of global warming and combat adverse effects of climate change.

Thank you for your attention.

Mongolia welcomes all investors, businesses, buyers and partners to join in the Webinar named “Investing in Mongolia’s Productive Agribusiness Sector” and pre-scheduled B2B meetings on 15-16 December 2020.

 The Webinar is –– Your opportunity to understand more about key investment agribusiness opportunities – including meat, dairy, leather and cashmere – as well as the processes and incentives for investing in Mongolia. 15 December 2020 / 14:00-15:30 ULAT

 The Webinar will follow the B2B Meeting (15-16 December 2020) – will give you the opportunity to explore more about the Mongolian prospective investment seeking projects such as

 Cashmere & textile,

 Leather,

 Industrial and Agricultural Parks,

 Food & Beverages (honey, meat, milk, oil plant, water),

 Animal Husbandry

 Fishery

 Health (beauty)

 Others (construction & brokerage)

Please pre-schedule your meeting time with Mongolian investment seeking project owners through https://www.expomongolia.org/12/b2b

“Export Mongolia 2020” International virtual forum & exhibition https://www.youtube.com/watch?v=Miw8VoRDfvI&feature=youtu.be

Guideline to register to the webinar and B2B meetings https://www.youtube.com/watch?v=ww5iG1Z5Gwo&feature=youtu.be

Register here www.exportmongolia.org.

The Emergency Commission of Ulaanbaatar City has decided to lift the bans on the sale and consumption bans of alcoholic beverages. The relaxation comes into force from Monday (14 December); on the same day, the public emergency situation will be partially relaxed. Therefore, the residents of Ulaanbaatar can enjoy beers and wines; however, strong alcoholic beverages such as vodka and whisky remain banned.

With the lifting of the ban, supermarkets, minimarts, cafes, restaurants, hypermarkets and food markets will re-open from 07:00 a.m. until 9:00 p.m.

During the period of the alcohol ban, four people died of alcohol poisoning after drinking technical spirit.

Sumo grand champion Kakuryu, winner of six top division titles, has given up his Mongolian nationality and acquired Japanese citizenship, an official government publication showed Thursday.

By meeting the requirement to remain in the Japan Sumo Association as an senior-citizenafter retirement, the 35-year-old will now be able to run his own stable of wrestlers after his active career has ended. Although Japanese nationality is not required to compete in sumo, citizenship is necessary if a wrestler wishes to progress to become a sumo elder upon retirement and establish or inherit a sumo stable.

Kakuryu is the fourth foreign-born yokozunato obtain Japanese citizenship after retired U.S.-born wrestlers Akebono and Musashimaru, and Mongolian-born Hakuho, a still-active competitor, who became a Japanese citizen last year.

Kakuryu fought out of the Izutsu stable when he started his sumo career in 2001. He was promoted to the highest rank of yokozuna in the spring of 2014.

Upon the death of the Izutsu oyakata and closure of the Izutsu stable in September 2019, he moved to the Michinoku stable. Last month, he was given a “warning” by the Yokozuna Deliberation Council after sitting out the last three tournaments due to injury.

Mongolia’s Central Bank issued a silver coin on Wednesday to commemorate the 800th anniversary of the establishment of Karakorum, the country’s ancient capital.

The commemorative coin, which is 50 millimeters in diameter, contains 2 ounces (56.7 grams) of 999 sterling silver, the Bank of Mongolia said in a statement.

The 5,000-tugrik (1.75 U.S. dollars) coin is available at the Treasury Fund of the Central Bank at a cost of 600,000 tugriks (210 U.S. dollars) per piece.

The ruins of Karakorum lie in the northwestern corner of Uvurkhangai Province of Mongolia, near today’s town of Kharkhorin and adjacent to the Erdene Zuu Monastery, a surviving Buddhist monastery. Famously described in his travels by Marco Polo, the new capital was established by Kublai Khaan, the grandson of Chinngis Khaan.

They are part of the upper part of Orkhon Valley, a world heritage site of the United Nations Educational, Scientific and Cultural Organisation.

Mongolia on Sunday decided to write off payments of water, heat, electricity and waste for households and organizations across the country amid the COVID-19 pandemic.

With exceptions of governmental organizations, state and local owned entities, mining companies, wholesalers, retailers, and alcohol or tobacco producers, the decision comes into effect from Dec. 1 to July 1, 2021, said Prime Minister Ukhnaa Khurelsukh at a press conference after an irregular government meeting.

Erdenet Mining Corporation, one of the biggest state-owned enterprises, is expected to pay for about 650 billion Mongolian Tugriks (228 million U.S. dollars) needed to implement this decision, said Khurelsukh.

More than 890,000 households and 123,800 organizations can benefit from the write-off, according to official data.

In addition, Mongolia decided to cut the price of processed fuel by 75 percent during the period to support the livelihoods in ger areas of the capital city Ulan Bator. Earlier, it had reduced the price by 50 percent.

About 220,000 households live in Ulan Bator's ger districts, with no running water, central heating or sewerage systems.

As of Sunday, Mongolia has reported 907 COVID-19 cases, including 473 locally transmitted cases.

The Asian country's nationwide lockdown, imposed on Nov. 12 after its first locally transmitted case, expired on Dec. 1. It has extended the restrictive measures in Ulan Bator and the provinces of Selenge and Arkhangai until Dec. 14. Enditem

Anglo American will divest from its South African and Colombian thermal coal operations by mid-2023, the miner said on Friday.

The global miner said a de-merger and listing on the Johannesburg Stock Exchange was the most likely route for its South African thermal coal assets, which include three wholly-owned and operated mines – Goedehoop, Greenside and Khwezela.

“With the bulk of (growth) options in copper, PGMs, and now also crop nutrients, we are increasingly positioned to supply those metals and minerals that enable a cleaner, greener, more sustainable world,” Chief Executive Mark Cutifani said on Friday in an annual update to investors.

Cutifani said the company planned to exit its Cerrejon thermal coal mine in Colombia within 1 1/2 to 2 years, while the South African thermal coal exit will happen within 2 1/2 years.

Anglo American said production across all minerals will increase by 14% in 2021 and unit costs are expected to fall by 3%.

Capital expenditure would be between $5.7 billion and $6.2 billion next year, reflecting deferred 2020 spending and new investments.

“We expect to deliver sector leading volume growth of 20-25% over the next three to five years that includes first copper production from Quellaveco in 2022. We are on track to deliver our targeted $3-4 billion run-rate of incremental annual improvement by the end of 2022,” said Cutifani.

The miner said it expects to produce 890,000 to 1 million tonnes of copper in 2023. It cut its 2022 copper production forecast, though, to 680,000-790,000 tonnes, from 700,000-810,000.

Diamonds

The De Beers owner also trimmed its diamond production forecasts for the next two years, from 31-million carats in 2019 to 33-35-million carats in 2021 and 30-33-million carats in 2022. The world’s top diamond producer by value, saw rough diamond production decrease by 5% to 8.7-million carats in the quarter ended Sept. 30.

“Current diamond prices will increase pressure on producers and output will shrink unless they rally,” Cutifani said.

Jefferies analyst Christopher LaFemina told Reuters the cuts to copper and diamond forecasts were “unhelpful” considering organic growth is a unique aspect of the investment case for Anglo American.