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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Prison for Former Mongolian Minister! www.news.mn

Former Mongolian Energy Minister M.Sonompil was sentenced to four years in prison on Wednesday (24 July) over the abuse of power. The Khan-Uul District Court of Ulaanbaatar ruled that M.Sonompil was guilty on charges and had to forfeit MNT 266 million, which he had acquired by illegal means.

The Mongolian Independent Authority against Corruption charged M.Sonompil in October, 2017 in connection with the government tender and financing of the ‘Amgalan’ Thermal Plant.

M.Sonompil worked as Energy Minister between 2012 and 2016.

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Mongolia to host international geological conference www.news.mn

An academic conference on the results of the fourth phase of a joint research project between Mongolia, Russia, China, South Korea, and Kazakhstan entitled ‘Geological Structures and Metallogeny of the Northern, Central, and Eastern Asia’ will be held in Ulaanbaatar on 5-6 August. The conference is taking place on the occasion of the 80th anniversary of the establishment of Geological Research Centre of Mongolia.

Around 50 researchers from the four countries have registered to take part in the conference, at which interesting presentations showing the contributions of leading specialist from the four countries to the field of Asian geological studies.

Heading the teams from the four countries will be: Honoured Geologist of the Russian Federation Oleg Vladimirovich Petrov who is Director General of the A.P. Karpinsky Russian Geological Research Institute, LI Tingdong, Member of the Chinese Academy of Sciences, M.Tnaliev of the Committee of Geology and Subsoil Use, Ministry of Investment and Development of Kazakhstan, and Paul Hong of the Geological Research Centre, Korea Institute of Geoscience and Mineral Resources.

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Uzbekistan considers importing meat from Mongolia www.news.mn

Uzbekistan is considering the possibility of importing meat from Mongolia.

A delegation from Tashkent have been in Mongolia in order to study the quality of the local meat, learn about nomadic cattle breeding and farming and visit several meat processing plants. The delegates noted that since these plants have introduced Halal meat slaughtering standards, it creates all the necessary conditions to export meat to Uzbekistan. Deputy Minister Saule, the most senior member of the delegation, noted that Mongolia has a breadth of opportunity to cooperate with Uzbekistan in many sectors.

The two sides agreed to implement joint projects and programmes further on expanding cooperation into animal husbandry and the veterinary sphere, to share practices as well as to augment trade of animal-related raw materials and products.

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Petro Matad commences drilling at Mongolia exploration well www.stockmarketwire.com

Petro Matad said that drilling had commenced on a new exploration well in Mongolia.

The Heron-1 well in the Tamsag Basin was an appraisal of the T19-46 oil field and was being drilled with the DQE International 40105 rig.

The well was targeting a prospect with a 25m barrel mean prospective recoverable resource and would be drilled total depth of 3,050 metres.

It was expected to take up to 40 days to complete.

Upon completion of drilling operations, the rig will move about five kilomtres to the Gazelle-1 location.

Mobilisation of the Ccmpany's second contracted rig to the Red Deer-1 location was ongoing with a targeted spud date before the end of July.

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US coal miners lobby Congress to fund Black Lung Trust Fund www.mining.com

Coal miners from West Virginia, Pennsylvania, Kentucky and Virginia, some sick with black lung disease, went to Capitol Hill this week to lobby Congress to fund the Black Lung Trust Fund, only to leave the meeting disappointed.

Black lung disease is an epidemic killing thousands of coal miners. In mines across the Appalachian states, miners were exposed to toxic mine dust that would later lead to the debilitating respiratory illness, also known as progressive massive fibrosis.

A group of coal miners met with Senate Majority Leader Mitch McConnell on Tuesday, to try to have restored a higher excise tax on coal companies to fund medical care.

The excise tax originated in 1977 with the Black Lung Revenue Act. The tax is the main source of revenue for the Black Lung Program and Black Lung Disability Trust Fund (BLDTF), which pay benefits to disabled miners and their survivors and dependents.

The coal industry has lobbied to have the tax reduced, while the BLDTF is at risk of insolvency.

Some of the miners rode by bus for ten hours to speak with McConnell, but the Republican leader only saw them for two minutes, and while he did tell them their medical benefits are safe, he did not comment on the excise tax and left without answering questions or providing details, Reuters reported.

“[The] focus is on placating politically connected, wealthy coal industry executives, not helping miners, their families, or the communities left out to dry,” a Sierra Club representative said in an email to MINING.com.

Last year, a joint National Public Radio (NPR) and PBS Frontline investigation found that regulators knew about black lung disease, which plagued coal miners for generations, and could have stopped it.

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Mongolia’s role in the Cryptocurrency Market www.medium.com

Mongolia is a country still often overlooked when it comes to economic development.
Over the last decades Mongolia has overcome political and economic hardships and the government is keen to find ways to strengthen the financial sector of the country. Mongolia has an open mind about cryptocurrency and there are plans to further promote this industry.
Cryptocurrency and blockchain related market actors also started to focus on Mongolia over the recent months. Especially during the bear market 2018 Mongolia gained popularity as a new haven for miners.
Resource and Cryptocurrency Mining in Mongolia
Mongolia is well known for resource mining, such as gold, bronze, copper and rare metals but it also has the potential to play a leading role in cryptocurrency mining.
Probably the biggest factor is that electricity prices are very low in Mongolia, even much lower than prices in China. Many miners who struggled with the balance of energy costs and gained profit during the last bear market, relocated to Mongolia. This way they could lower their financial burden in times when the mined coins couldn’t generate much revenue.
Aside from low energy prices, Mongolia’s cool climate is also favorable for cryptocurrency mining. Throughout the year temperatures are relatively low which reduces the energy needed to keep the heat-generating mining computers at their working temperature.
That is why especially during the very cold winter months, when resource mining is difficult, cryptocurrency mining flourishes.
The AIS project that is currently building a cryptocurrency exchange called AIS-X in Mongolia sees the potential of Mongolia’s mining sectors and plans to combine them with “Double Mining”. Double Mining refers to a form of investing and promoting both, the resource and the cryptocurrency mining, and smartly linking it to the services of the exchange.
For more information about the AIS project and the AIS-X exchange please refer to the links below.
AIS Website : https://ais-x.io
AIS-X(exchange) : https://ais-ex.com/
Telegram : https://t.me/aisofficial
Twitter : https://twitter.com/aisx_official
Facebook : https://www.facebook.com/AISXOFFICIAL

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‘Future Heritage Fund Corporation’ constituted www.montsame.mn

Ulaanbaatar /MONTSAME/ At its regular meeting on July 24, the Cabinet established the ‘Future Heritage Fund Corporation’ LLC responsible for the Future Heritage Fund (FHF)'s asset management.

FHF is owned by the nationals of Mongolia and FHF Corporation will be a professional, independent, 100 percent state-owned company in charge of investing in, raising and maintaining the real value of the fund's assets within the scope of the authority granted without ownership rights of the assets.

The main sources of the FHF's financing include 65 percent of the royalty payments and the dividends to the state owned shares of legal entities with state ownership participation or state owned enterprises which possess mining licenses for mineral deposits.

Currently, the fund totals MNT 213 billion.

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Construction work of Tavantolgoi-Gashuunsukhait railroad to commence next month www.montsame.mn

Ulaanbaatar /MONTSAME/ Minister of Road and Transport Development B.Enkh-Amgalan reports that the Cabinet resolved to continue construction of 208.5 km Tavantolgoi-Gashuunsukhait railroad from August 15 and to commission in 2021.

The Cabinet issued a permit of basic infrastructure construction of railroad to ‘Tavan Tolgoi Railway’ Company. Moreover, corresponding ministers and heads of agencies were assigned to give 66 percent of shares of ‘Tavan Tolgoi Railway’ LLC to 'Erdenes Tavan Tolgoi' JSC and 34 percent to ‘Mongolian Railways’ state-owned shareholding company.

Basic infrastructure construction of the railroad has been run at 51.8 percent while excavation work at 86.6 percent and works for building bridge and tunnels at 52 percent or USD 276.3 million was spent on the railway project in 2013-2015. Total cost for the railroad is USD 807 million. Therefore, to raise remaining USD 531.4 million, a joint working team of ‘Mongolian Railway’ state-owned shareholding company and 'Erdenes Tavan Tolgoi' JSC was set up.

Furthermore, Governor of Umnugobi aimag N.Naranbaatar was obliged to promptly give permits of constructional works of power transmission line, signal, railway stations, and junctions.

At the end of his report, Minister B.Enkh-Amgalan stressed that construction work of railroad in route Tavantolgoi-Zuunbayan has been running normally. Eight companies are working as assistant contractors. Moreover, military units no. 77 and 81 are working to this constructional work.

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Greater Tumen Intiative Committee meeting kicks off in Khentii aimag www.montsame.mn

Ulaanbaatar /MONSTAME/ The 7th Greater Tumen Intiative (GTI) North East Asia Local Cooperation Committee (LCC) Meeting and the 5th LCC Logistics Sub-Committee (LSC) Meeting started in Chinggis city of Khentii aimag.

The meeting is involving over 60 delegates comprising representatives from the Ministry of Environment and Tourism of Mongolia, Governor’s Office of Khentii aimag, and China, South Korea, Japan, and Germany, as well as specialists of the ADB project 'Man of the millennium - The Great Chinggis Khaan'.

The participants are discussing coordination of the local cooperation and project proposals from LCC members.

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Mongolian company implements housing project www.news.mn

Over 200,000 households in the outskirts of Ulaanbaatar – the so-called ger districts – burn coal to stay warm and to cook; the smoke produces is a source of air pollution in the city. Since 2013, the Mongolian government has been implementing several housing projects, these include: ‘Buyant-Ukhaa-1’, ‘Buyant-Ukhaa-2’, ‘Apartments for 1000 Households in Every Province’ and the ‘State Rental Housing Programme’. However, these have not been enough to clear the heavy coal smog covering Ulaanbaatar’s sky.

Fortunately, Mongolian private enterprises are now shouldering the burden also and helping with housing projects. The Mongolian mining and investment company ‘Khanan Shishged’ LLC has started a project entitled ‘House of Ten Thousand’. The projects was initiated by S.Munkhbat, director of ‘Khanan Shishged’ LLC in 2015. The project aims to provide housing to 1740 families in the Songinokhairkhan, Khan-Uul and Chingeltei Districts of Ulaanbaatar.

‘Khanan Shishged’ was founded in 2006.

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