During his working visit to the United Arab Emirates, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai paid a courtesy call on Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates. At the meeting, the two sides discussed a wide range of issues related to expanding and developing Mongolia-UAE relations and cooperation.

Prime Minister Oyun-Erdene presented the 2024-2028 Action Program of the Government of Mongolia, outlining its key objectives. The two sides exchanged views on specific measures to expand bilateral trade and economic cooperation. The two parties reaffirmed their shared interest in advancing collaboration in mining, mineral resources, renewable energy, urban development, digital development, agriculture, and tourism, emphasizing the importance of mutually beneficial partnerships.

Sheikh Mohamed bin Zayed Al Nahyan expressed his full support for intensifying collaboration in these sectors, noting his confidence that joint efforts would elevate Mongolia-UAE relations and cooperation to a new level.

The two sides also agreed to cooperate and share experiences in preparation for Mongolia’s hosting of the 17th Session of the Conference of the Parties to the United Nations Convention to Combat Desertification (UNCCD COP 17) in 2026.

On December 3, 2024, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai held a meeting with President of the French Republic Emmanuel Macron on the sidelines of the One Water Summit held in Riyadh, the Kingdom of Saudi Arabia.

At the meeting, the two sides expressed their interest in developing cooperation between Mongolia and France in the mining sector in an environment-friendly manner and collaborating to ensure water supply and water security in the Gobi region.

Furthermore, the parties expressed commitment to paying special attention to commencing and implementing major projects that would intensify Mongolia-France cooperation in the near future.

At the regular session of the Cabinet of Mongolia on December 4, 2024, Uchral Nyam-Osor, Head of the Cabinet Secretariat of Mongolia, presented measures aimed at reducing carbon emissions and providing clean energy in Ulaanbaatar, the capital city of Mongolia.

The population of Ulaanbaatar has increased by 27 percent over the past 10 years and tends to exceed 2.5 million by 2030 if this growth rate continues. Eighty percent of Ulaanbaatar’s air pollution is attributed to stoves used by households in ger districts and steam boilers operated by businesses and institutions. Ten percent comes from the more than 500 thousand vehicles on the roads, while the remaining portion is caused by other sources such as thermal power plants, ash ponds, road dust, and open waste. Although various measures have been implemented in recent years to reduce air pollution, the intended results have not yet been achieved.

Currently, the level of CO2 greenhouse gas emissions in Ulaanbaatar city exceeds the permissible limit by 30.7 percent, posing risks to public health. Alleviating carbon emissions through adopting clean energy or new decentralized energy sources, utilizing advanced and internationally qualified technologies, is being explored as a solution. This is an effective way to reduce air pollution in Ulaanbaatar in the short term. Most cities have adopted liquefied petroleum gas (LPG) as a thermal energy source, demonstrating that it is clean, safe, accessible, non-toxic, and more efficient. In Ulaanbaatar, it is feasible to implement such a project in three phases at the ger districts.

In connection with the presentation, the Cabinet assigned Minister of Energy of Mongolia Choijilsuren Battogtokh, and Governor of the Capital City and Mayor of Ulaanbaatar Nyambaatar Khishgee to study options for establishing decentralized energy systems in Ulaanbaatar and increasing installed capacity. They were also tasked with identifying solutions to provide households in ger districts with advanced energy sources, reducing their reliance on refined coal briquettes.

The Ulaanbaatar City Procurement Department has launched a tender worth 28 billion MNT to supply standard-compliant stoves to households in ger districts.

According to the tender notice posted on tender.gov.mn, the project is titled “Procurement of Standard-Compliant Household Stoves within the Air and Environmental Pollution Reduction Program for Households Excluded from Ger District Redevelopment Plans.” It was publicly announced on December 2.

The total budget allocated for the tender is 28,296,000,000 MNT, or 28 billion MNT. A total of 32,000 stoves are to be purchased, which equates to 884,250 MNT per stove.

The project targets households in ger districts not included in redevelopment plans, aiming to increase the number of stoves meeting the MNS5216:2016 standard and ensure safe and healthy living conditions for residents.

Interested parties must submit their bids as outlined in the tender documents before 9:00 AM on December 24, 2024, with the tender opening scheduled for the same day.

Approximately 70% of all households in Mongolia live in ger districts, with 273,000 of these households located in Ulaanbaatar.

Since the beginning of the year, there have been a total of 38,304 earthquakes in Mongolia.

Between January 1, 2024, and December 5, 2024, 38,304 earthquakes were recorded across Mongolia and its border areas. Of these, 22,610 earthquakes occurred within the territory of Mongolia. Among these, 36 were of magnitude 3.5–4.4, and 4 were of magnitude 4.5–5.6. The magnitude of earthquakes is measured on a scale of up to 8, with intensity evaluated on a 12-degree scale.

Magnitude vs. Intensity:

Magnitude measures the energy released at the earthquake’s source, beneath the ground.

Intensity is measured on the surface, assessing the impact on people and structures.

Magnitude Scale Effects:

2.5 or less: Recorded only by instruments.

2.5–5.4: Felt by people; minor damage possible.

5.5–6.0: Causes slight structural damage.

6.1–6.9: Can damage urban areas.

7.0–7.9: Results in severe damage.

8.0 or higher: Causes catastrophic damage, with near-complete destruction near the epicenter.

Earthquakes are natural disasters that can claim many lives and destroy human-made structures. Over recent years, the frequency and intensity of earthquakes have increased not only in Mongolia but also globally.

The most recent significant earthquake occurred at 6:16:56 AM on December 5, 2024, at "Shivdeg," located in the 3rd district of Khuvsgul Province's Khankh soum (286 km southwest of the provincial center, and 10 km east of the soum center). It had a magnitude of 5.2.

The strongest earthquake recorded in Khuvsgul Province in the last decade occurred on January 12, 2021, in Khankh soum, with a magnitude of 6.5.

Earthquake Preparedness:

Earthquakes and their associated risks are critical issues that require everyone’s attention. To ensure safety, the public is encouraged to prepare for earthquakes, learn response measures, and seek guidance from resources such as www.belenbai.mn. Being informed can help protect yourself and others from potential disasters.

Translated by ChatGPT

The U.S. Government, through the United States Agency for International Development’s (USAID) Business Excellence for Sustainability and Transparency (BEST) program, helped 5,397 small and medium-sized enterprises (SMEs) in Mongolia secure $100.4 million (MNT 329.7 billion) in loans and create over 4,000 new jobs in just five years.

Launched in 2019 with $15 million in USAID funding, the BEST program supported entrepreneurs with training on financial management, marketing, and, crucially, loan applications and documentation.

One of USAID’s key achievements was strengthening both women-led and rural SMEs. Out of the total loans facilitated by USAID, more than half were awarded to women-led businesses, empowering 3,005 female entrepreneurs. The program also provided $500,000 (MNT 1.7 billion) in grants to 176 startups and small businesses in rural provinces. This funding helped businesses purchase new equipment, create new jobs, and boost economic activity in underserved areas. With participants from Ulaanbaatar and 12 rural provinces, BEST also fostered collaboration among businesses that led to the formation of non-governmental organizations which have partnered with local governments to develop and approve regional development strategies, ensuring lasting benefits for SMEs.

“USAID’s BEST program has laid a strong foundation that will empower small businesses to thrive in Mongolia for years to come,” U.S. Ambassador to Mongolia Richard Buangan said. “I’m confident and excited that we will continue working with Mongolia’s private sector to create opportunities and long-term economic prosperity.”

Building on the success of the BEST Program, USAID will launch a second phase in 2025 – an anticipated $10 million (MNT 34 billion) investment over five years to enhance SMEs’ energy efficiency, environmental sustainability, and competitiveness to further support Mongolia’s economic growth and diversification. USAID invites eligible organizations to apply for this opportunity on grants.gov under Opportunity Number 72043825RFA00001. Applications are due by February 12, 2025.

Mongolia exported 74.2 million tons of coal in the first 11 months of this year, the Mongolian Customs General Administration reported on Thursday.

This marks a significant year-on-year increase of nearly 24 percent compared to the same period in 2023, according to official data released by the administration.

Coal remains one of Mongolia's key export commodities, reflecting the country's rich mineral reserves.

Initially, Mongolia set a coal export target of at least 60 million tons for 2024. However, buoyed by strong performance, the target has been revised upward to 75 million tons.

In 2023, Mongolia achieved a record coal export volume of 66.7 million tons, setting a new benchmark for its coal trade.

Building on this momentum, the Asian country plans to export at least 80 million tons of coal next year as outlined in its draft law for the 2025 state budget.

The City Council of the Capital City convened today (December 4, 2024) and approved the 2025 budget proposal. During the session, the council discussed and decided to revise and increase the taxes on vehicles and self-propelled machinery as well as the road usage fees. The updated regulations will come into effect on January 1, 2025.

The revised rates for vehicle tax based on engine capacity, as determined by the City Council, are as follows:

Above 4000 cc: 694 MNT per day, 250,000 MNT per year

2001–3000 cc: 416 MNT per day, 150,000 MNT per year

Up to 2000 cc: 275 MNT per day, 100,000 MNT per year

Under the new tariffs, drivers will pay taxes based on the engine capacity of their vehicles.

Translated by ChatGPT

Anglo-Australian mining group Rio Tinto (RIO.AX), opens new tab, (RIO.L), opens new tab on Wednesday lifted its capital expenditure guidance for 2025 and forecast higher copper production, mostly on an anticipated 50% output surge from its Mongolian assets.

Across operations, it is projecting 3% compound annual growth from 2024 onward. While Rio Tinto's profits primarily stem from iron ore, it is increasing its focus on copper, demand for which is expected to benefit from the energy transition.

The miner aims to reach annual copper production of 1 million metric tons by 2030, evolving into a major player in the clean energy supply chain focusing on high-quality, low-emission raw materials.

"As we ramp up the Oyu Tolgoi underground copper mine (in Mongolia), deliver the Simandou high-grade iron ore project in Guinea, and build out our lithium business through the proposed acquisition of Arcadium, we are underwriting a decade of profitable growth," CEO Jakob Stausholm said.

The company expects overall capital expenditure to rise to $11.0 billion for fiscal 2025 - $1 billion above a previous forecast - from $9.5 billion in 2024.

The Simandou iron ore project in Guinea, set to be the world's largest new iron ore mine, will add around 5% to global seaborne supply when it comes on line at the end of 2025. Rio plans to spend about $6.2 billion on the development, with more than half on port and rail infrastructure.

While the Dow dipped almost two-tenths of a percent, the S&P ticked up slightly, and the NASDAQ added four-tenths of a percent.

Rio in October agreed to buy lithium producer Arcadium (ALTM.N), opens new tab for $6.7 billion, a strategic move set to make it the world's third-largest lithium miner, significantly boosting its presence in the electric vehicle battery supply chain.

Its Rincon starter project in Argentina achieved first lithium production last week, it said, but the huge Jadar project in Serbia, marred by environmental protests, could take at least two years to secure permits to go ahead.

The world's largest iron ore producer said it expects copper production in fiscal 2025 of 780,000-850,000 tons, against 660,000-720,000 tons a year earlier.

It maintained its projected capital expenditure for decarbonisation through 2030 at the lower end of the $5 billion-$6 billion range, having last year cut the budget from a previous estimate of $7.5 billion.

Rio is dual listed in Sydney and London, where its shares were down 12% and 14% respectively this year.

On Wednesday activist investor Palliser Capital demanded Rio Tinto scrap its primary listing in London and unify its corporate structure in Australia, saying about $50 billion in shareholder value has already been lost due to the dual listing.

"So far, we have not got anything that tells us that the structure we have is not the best structure," Stausholm told investors in London.

Reporting by Clara Denina, Roushni Nair; Editing by Eileen Soreng, Rashmi Aich and Jan Harvey

Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai received Prince Turki bin Mohammed Al-Saud, Member of the Council of Ministers and Minister of State of the Kingdom of Saudi Arabia.

At the meeting, Prime Minister Oyun-Erdene noted that the State Minister’s visit to Mongolia last year was an important impetus for increasing relations and cooperation between the two countries and expressed satisfaction that the issues agreed during the visit started to be realized. Prime Minister Oyun-Erdene introduced Mongolia’s “Vision-2050,” the Government’s Action Program for 2024-2028, and mega projects, and the two sides exchanged views on the possibilities for cooperation with Saudi Arabia in implementing these projects and programs, attracting investment, and developing mutually beneficial cooperation.

Prince Turki bin Mohammed emphasized the great potential to expand relations and cooperation between the two countries and confirmed Saudi Arabia's commitment to developing mutually beneficial cooperation in sectors, including renewable energy, mining, and tourism. Moreover, the Prince reaffirmed to provide all-round support to Mongolia for organizing the 17th Conference of the Parties to the United Nations Convention to Combat Desertification.