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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Fifth coronavirus case confirmed in Mongolia www.montsame.mn

Ulaanbaatar /MONTSAME/. On the evening of March 17, Tuesday, the Ministry of Health announced fifth confirmed coronavirus case in Mongolia.

The infected person is 30-year old female, who arrived from Italy via Germany on an evacuation flight from Berlin to Mongolia yesterday, March 16.

She has been staying in isolation at the National Center of Communicable Diseases in Ulaanbaatar and is in stable health condition.

Yesterday, March 16, the Ministry of Health reported three confirmed cases of coronavirus, including two passengers arrived on an evacuation flight from Seoul, South Korea and one person arrived on the chartered plane from Berlin, Germany.

The Ministry of Health officials informed that the newly confirmed patient is not identified to have had a close contact with the other patient, who is diagnosed with the coronavirus yesterday, as she was sitting far away from her on the same flight from Berlin.

The next charter flight to repatriate Mongolian nationals, who are living in coronavirus-affected countries and have reasonable excuses to return home, is scheduled to arrive from Istanbul on March 18, Wednesday.

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Mongolian State Department Store fined for ‘fixing’ meat prices www.news.mn

The Mongolian Government has warned businesses against ‘price gouging’ during the time of an advanced emergency readiness and preparation for preventing the spread of the killer coronavirus that has killed over 5800 people globally. As the epidemic spreads across the globe, people have been seen rushing to supermarkets to bulk buy ‘essentials’. This has become an opportunity for some unscrupulous to raise the price for their own ends.

Earlier today (17 March), the Authority for Fair Competition and Consumer Protection reported the results of an inspection at the State Department Store. According to officials, Nomin Tav Trade LLC which owns Mongolia’s most famous store, has been fined for MNT 20 million for artificially and illegally increasing the meat price. The prices of mutton and beef were increased by MNT1000-5000 per kg on 12-16 March.

Located on Peace Avenue, in central Ulaanbaatar, the State Department Store is Mongolia’s oldest such establishment. Established in 1921, it was one of the first large buildings in the city. Known simply in Mongolian as ‘ikh delguur’ (big shop), the State Department Store, is a local institution and virtually a tourist attraction in itself.

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Mongolia’s gold purchase rises tenfold www.news.mn

The Central Bank of Mongolia, also know as Mongol Bank, purchased 952.6 kg of gold from legal entities and individuals in February, 2020; this is an increase of tenfold on the same month in 2019. This sharp rise of gold purchase came after Mongolia closed its border with China in order to prevent the spread of coronavirus.

If this continues, the Mongol Bank can set record for purchasing 24-25 tonnes of gold in the end of 2020. Previously, it had set record for purchasing 22 tonnes of gold in one year.

The 2.5 percent of discounted royalty on gold mining ended on 1 January 2019. Subsequently, 5 to 10 percent royalty taxes on gold mining have been imposed on miners, resulting in the Central Bank’s gold purchase being down 71.6 percent year-on-year in the period January-March 2019.

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Mongolia forbids import of crashed cars www.news.mn

It has become common for crashed or damaged cars to be imported to Mongolia and then to be sold after having been repaired. According to statistics, 30 percent of car imports in Mongolia are of vehicles which are at least 20 years old. Many are no longer manufactured.

In December, the National Auto Transport Centre of Mongolia signed an important agreement with Japanese organizations handling car assessment. The agreement aims at establishing a database of car exports from Japan in order to prevent crashed or stolen cars ending up in Mongolia.

The agreement will come into effect from 1 April, 2020, after which, car buyers can track the origin of their vehicle and obtain other information.

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Emergency Commission postpones resumption of coal export shipment www.montsame.mn

Ulaanbaatar /MONTSAME/. Amid concerns over the novel coronavirus outbreak, the State Emergency Commission (SEC) resolved to put off coal and petroleum exports in February until March 15.

Beginning from March 4, heavy trucks loading coal started crossing the border only through Zamyn-Uud border checkpoint after being fully decontaminated.

Today, the State Emergency Commission convened and decided not to resume coal shipment through border checkpoints because of lack of preparedness at some of the border checkpoints. For instance, Head of the SEC U.Enkhtuvshin pointed that building of disinfection facilities at some checkpoints have not been finished yet and it needs to be made sure that drivers of the freight trucks are ready to launch the shipments as the drivers themselves first had requested to stop the shipments due to fears over the outbreak.

It was earlier reported that once the coal shipment resumes, some temporary regulations should be followed. In particular, only companies satisfying certain safety requirements for the vehicles and their drivers would be allowed to continue coal export shipments with daily limits are set on the number of freight vehicles to cross the checkpoint.

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Mining ‘moderately exposed’ to effects of coronavirus www.mining.com

The metals and mining sector will be moderately exposed as a result of the ongoing coronavirus outbreak worldwide, said Moody’s in its latest report on global sectors based on data collected as of mid-March.

The fall in commodity prices will have an adverse effect on those in the industry. However, analysts at Moody’s believe many producers have improved since the last commodity slump in 2015-2016, which caused significant hardship for smaller, less-diversified companies and drove a steep rise in the number of defaults. Now, more global, higher-rated companies are in general better able to withstand a market downturn.

The global spread of coronavirus will slow economic growth significantly, which will, in turn, amplify its effect on several sectors, Moody’s asserts.

The firm recently revised its GDP growth forecasts for the advanced G-20 economies to 1.0% in 2020, down from 1.7% in 2019, and for the emerging G-20 to 3.8% in 2020, down from 4.2% in 2019, including a substantive slowdown in China. The baseline scenario assumes a normalization of economic activity in the second half of the year.

Moody’s cautions that the ability of some companies to withstand the effects of the virus will depend on its duration, and as events unfold on a daily basis, there is a higher than usual degree of uncertainty around its forecasts and assessment will evolve over time with new developments.

The following chart details the level of exposure for the major sectors around the world based on Moody’s research.

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Gold price rebounds – biggest rally since June 2016 www.mining.com

The gold price surged on Tuesday after the latest action by the US Federal Reserve to shore up financial markets and the announcement of a massive stimulus program by the Trump administration convinced investors that the metal’s status as a safe haven asset and inflation hedge remains intact.

The gold price jumped out of the gate on the Comex market in New York, touching a high of $1,554.30, up $67.80 an ounce, or 4.6% compared to Monday’s close. That was the biggest one-day gain since June 2016, when Brits voted to leave the European Union.

Bob Haberkorn, senior market strategist, RJO Futures
Gold has been on a wild ride over the past week, dropping as low as $1,450 an ounce Monday – a $250 an ounce slide after briefly hitting a seven-year high above $1,700 a week earlier.

“The fact that the Fed is stepping in, they are putting out more liquidity in the market, has helped gold to trade higher. Gold is starting to act like how it should act,” said Bob Haberkorn, senior market strategist at RJO Futures.

Gold usually performs well in an environment of rising inflation expectations, ultra-loose monetary policy and falling interest rates.

On Tuesday the Fed announced a restart to a 2008 financial crisis-era purchasing program of short-term corporate debt while an economic assistance package of more than $800 billion marked a shift by the White House towards a more aggressive response to the pandemic.

A wave of global central bank stimulus, including an emergency rate cut to zero by the Fed, and a pledge from leaders of the G7 nations to do whatever is necessary to respond to a global slowdown, have also bolstered gold’s prospects.

Bargain hunting
“Gold has got a lot of fundamental factors behind it to help drive it higher. Plus, you do have the technical aspect of it given the drawdown we had over the past two days,” Michael Matousek, head trader at US Global Investors told Reuters.

“It is a great opportunity for people to enter into the gold market.”

Goldman Sachs analysts said in a note that “in the near term, the gold price is likely to remain volatile as it tries to find a new equilibrium.”

(With files from Reuters)

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Three citizens that arrived on charter flights test positive for COVID-19 www.montsame.mn

Ulaanbaatar /MONTSAME/. Three Mongolian citizens that arrived in Mongolia on the charter flights en route Seoul-Ulaanbaatar, and Berlin-Ulaanbaatar have tested positive for COVID-19 from the preliminary laboratory tests. The Ministry of Health informed about the situation at its urgent announcement yesterday on March 16 at 10.50 pm.

Head of the Public Administration Department of the Ministry of Health B.Tsogtbaatar noted that the necessary health care assistance and services are being provided to those who have contacted the virus, and all people who were in close contact with them are currently being determined. He said, “The woman who arrived from France through Germany is in a serious state, and all necessary health care measures are being taken. Nine citizens who have been in close contact have been put into isolation. As it has been previously considered that repatriating our citizens from coronavirus affected countries brings risk, each citizen has been put into isolation as appropriate measures had been prepared beforehand.”

The test results of the three citizens were determined on March 16 at 8 pm, of which the other two arrived from the Republic of Korea.

At the State Emergency Commission’s meeting, a decision was made to repatriate citizens currently residing in the Republic of Korea, Japan as well as other countries that are in urgent need to return to their home country. In its framework, 244 citizens arrived on a charter flight en route Seoul-Ulaanbaatar on March 15. Another 231 citizens also arrived on a charter flight en route Berlin-Moscow-Ulaanbaatar yesterday on March 16 at around 8 am. The next charter flight that is to bring Mongolian citizens from Istanbul, Turkey will depart on March 18.

 
 
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Rio Tinto provides update on Oyu Tolgoi project www.montsame.mn

Ulaanbaatar /MONTSAME/ On March 16, Rio Tinto mining group issued a press release on the latest update of the Oyu Tolgoi project in Mongolia.

The Rio Tinto says it is working with the Government of Mongolia to ensure Oyu Tolgoi is operating in accordance with the restrictions the Mongolian authorities have put in place to contain the spread of COVID-19.

The first priority of the Rio Tinto and Oyu Tolgoi teams is the health and safety of all of our employees, contractors and the wider community.”

Since January the movement of goods and people within Mongolia have been restricted within and across its border and this has further escalated recently as the first case of COVID-19 has occurred in the country.

Work on the Underground Project continues, however, progress is being slowed as a result of these measures. There is restricted access for teams from Rio Tinto, Oyu Tolgoi and our construction partners to oversee development and provide specialist technical services.

The availability of specialist service providers at the site is essential to safely continue work on technical activities such as the headframe commissioning of Shafts 3 and 4.

The full impact of the slowdown on the Underground Project is unknown at this time and the company will update the market once more information is available.

The mine design for the Underground Project currently remains on track to be completed in the first half of this year, with a definitive estimate to be provided for the development of this world-class orebody in the second half of 2020.

Despite the impact of COVID-19, the open pit of the Oyu Tolgoi mine continues to operate and deliver shipments of copper concentrate to its customers.

Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said “Our focus is on ensuring the safety and health of all of our people at Oyu Tolgoi and we support the decisive action taken by the government to limit the spread of COVID-19. It has inevitably resulted in a restriction on the movement of goods and people in the country and this is slowing down construction activity at the Underground Project. It is too early to determine the impact of this and the team is doing all they can to minimize the disruption in a challenging environment. We will continue to work with our suppliers, customers and the government.”

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Mongolia Announces 3 New COVID-19 Cases, Totaling 4: How They Got Coronavirus Precautions Right www.forbes.com

How is it that Mongolia, a land that borders China and one of the likeliest to be a country where the disease would spread quickly and viciously, still has only four confirmed case of COVID-19, three of which were just announced today? Well, they acted quickly.

The first case, detected just last week on March 9 was made public when a French national who entered the country for work purposes began to show symptoms while in Dornogobi province.

Landing March 2 on an Aeroflot flight from France, transiting through Moscow, it was five days before he showed symptoms of the virus, eventually testing positive for COVID-19 in the province, near the border with Inner Mongolia, China. He remains under isolation in the National Center for Communicable Diseases in Ulaanbaatar, where he chose to remain for treatment and is reported to be in stable, healthy condition.

Of the 207 people who came into contact with the first infected case, all have tested negative for contracting coronavirus and local Mongolian news agency Montsame reported that “two citizens who have been in close contact with the French national have also left the territory of Dornogobi aimag despite the recommendations sent from a health organization. The members of the State Emergency Commission noted that the two citizens will be held legally responsible for their actions.”

This statement quickly makes you realize that the Mongolian government is taking things seriously. Very seriously.

But, despite that, it was too late. He was already in the country, escalating tensions between locals and the foreigners who call the country home. (Tensions have since calmed and locals have nicknamed him “Ankh-Otgon,” or “First-Last.”)

Unfortunately, he was not the last. Three new cases were announced today from three passengers aboard special chartered flights returning Mongolian citizens living and studying abroad from France and Germany. The passengers were placed into isolated quarantine upon landing in Mongolia, where they tested positive. They’ve started to receive the necessary treatments.

But even before these cases were detected, and before the WHO declared a pandemic, warning that government systems need to be “urgent and aggressive,” Mongolia did just that. And they did it surprisingly well. And that’s proving to be the best thing any government can do to protect its people right now.

I’d be remiss if I didn’t fail to mention it doesn’t hurt that with temperatures well below freezing, people are mostly covered up in layers from head to toe. When temperatures begin to warm, it will be interesting to see if additional cases within the country start to surface.

Mongolia began taking precautionary actions back in January – they were the second country to close their borders with China.

Just a few weeks after the first case was announced in China on December 31, 2019 the Mongolian government announced they would be closing the borders with China on January 27. They were the second country to do so, after North Korea.

Schools began closures that same date (January 27).

Continuous announcements canceling events across the country were made. All public events and gatherings through the upcoming weeks were now canceled, a major challenge with one of the most celebrated holidays of the year, Tsagaan Sar, or Mongolian Lunar New Year, quickly approaching in February. All of this pre-“social distancing.”

It was eventually announced that March public events would be canceled as well, including the official cancellation of the Ice Festival on Lake Khovsgol, the Winter Golden Eagle Festival, the camel festival in Umnugobi province and the Nauryz Festival nearer to the end of March. All of them major blows to the locals and the tourism dollars they rely on.

It was announced on February 19 that roads and other forms of transportation would be suspended or blocked over Tsagaan Sar (February 21-27) across six provinces to further enforce the need to self-isolate and not gather in large groups. A necessary action to keep the flow of movement limited over a holiday that holds significance in the country. Prior to the ban, traffic into Ulaanbaatar was monitored by stopping cars and requiring that all passengers have their foreheads scanned to detect an abnormal temperature. Something I myself experienced.

But not all public transportation was banned, within the capital the main bus lines were running, but were limited to running on “peak” hours. And even though in the U.S. the CDC advises that wearing a face mask isn’t necessary if you are not sick, they were mandatory while riding public transportation in Ulaanbaatar. Public officials and news broadcasters had even adopted to wearing masks through press conferences and news broadcasts.

A daily 11 a.m. press conference is still broadcast daily across local channels to update locals on any new developments that might develop each day. People are additionally handing out pamphlets in the street providing tips on how to stay healthy.

In a place where panic should have spread, grocery stores are still stocked with food (the exception being the day the case was announced, and price gauging happening mostly only on meat products – the availability and pricing since going back to normal). Toilet paper shortages never having been an issue.

Mongolia’s President Khaltmaagiin Battulga would be the first to visit China following the outbreak, meeting with Chinese President Xi Jinping and Premier Li Keqiang and presenting them with a gift of 30,000 sheep as a gesture of solidarity and support. Upon returning to Mongolia, the President voluntarily going into self-quarantine.

Around this same time period the U.S. Government listed Mongolia as a Travel Level 3 threat.

Flying out of Buyant Ukhaa (Chinggis Khaan International) Airport, masks were mandatory. There were no exceptions.

Leaving Mongolia, now almost two weeks ago (March 5), the seriousness of the quarantines and regulations didn’t completely phase me until I was told I couldn’t enter the airport because I wasn’t wearing a mask. I was not sick, but that didn’t matter. It was mandatory.

The additional security at the airport’s automatic doors, guarding the temperature takers in their hazmat suits, not budging on the issue until a mask was properly hooked around my ears, covering my mouth and nose.

Mask now donned and temperature taken and proven normal; I was free to leave the country. But, now having left, returning to Mongolia is no longer an option for the immediate future. And my future there – or really anywhere, at this point – is uncertain. The same for Mongolian citizens, who are being urged to stay in the countries abroad that they’re currently in.

On March 10 and 11, Mongolia suspended all inbound travel from outside countries until March 28, at the earliest. And, as of yesterday, March 15, my flight returning from Istanbul to Ulaanbaatar on April 4, a date after the current ban on incoming flights, has been canceled by Turkish Airlines. When asked when this route would resume, the Turkish Airlines customer service representative found the next available flight from Istanbul scheduled for May 2. I have little hope that this will be the case.

Travel on the Trans-Siberian Railway to China was suspended back in January thanks to the border closure, leaving passengers scrambling to make new travel arrangements from Ulaanbaatar. That suspension will continue through the March 28 suspension date as well.

On March 12, the U.S. Embassy in Mongolia announced voluntary evacuation flights (evacuation isn’t mandatory) to return to the U.S. As of this moment, the exact number, destination(s) and departure date(s) of these flights is not yet known, but what is known is that passengers will be responsible for the cost a ticket to board one of these specially arranged flights. That price, at this point, unknown.

The British Embassy offered the same to British nationals wishing to leave, with seat prices being announced at $432 for an economy seat on the March 15 Ulaanbaatar to Moscow flight, $540 for an economy seat on the March 15 Ulaanbaatar to Berlin flight and $426 for an economy seat on the March 16 Ulaanbaatar to Tokyo flight.

As of today, roads have been reopened, but citizens entering into Ulaanbaatar are being asked to fill out a questionnaire answering the question of their physical condition and possible risk.

A ban on the operations of monasteries, churches, bars and nightclubs, sauna, motels and a varying degree of sports and cultural entities such as yoga, dance clubs and tourism remain in effect until March 30. The restaurants that do remain open in the city are on a mandatory 10 p.m. closing schedule.

Public trading centers that have been closed since March 10, such as the local-favorite Black Market, are now reopened.

While the U.S. struggles to monitor and test individuals flying back into the country, with articles such as this one from the Washington Post shedding light on how things are being handled (or more appropriately, mishandled), the U.S. and other countries could certainly take note of how this nomadic nation has managed to protect its citizens quickly, and seemingly, effectively in a time when people are scared and looking to their government for answers.

For more information on the coronavirus situation in Mongolia, I’ve written about my personal experience on my website at breannjwilson.com.

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