Mining Sector Remains Backbone of Economy www.montsame.mn

he MONTSAME National News Agency, in cooperation with MICC Mongolia International Capital Corporation LLC, has launched a weekly review of Mongolia’s domestic capital market and economic developments, to be published at the beginning of each week.

Weekly Capital Market and Economic Review

(2026.04.06–2026.04.12)

MONGOLIAN STOCK EXCHANGE

During the week, a total of 7.4 million securities worth MNT 6.4 billion were traded on the Mongolian Stock Exchange. Among them, Golomt Bank JSC, Khan Bank JSC, Innovation Investment JSC, Mongolian Stock Exchange JSC, and Trade and Development Bank JSC led in trading value.

During this period, a number of block trades were executed. In particular, 498,000 shares of Golomt Bank JSC (GLMT) were traded at MNT 1,245 per share, totaling MNT 620 million.

As of last week, the Mongolian Stock Exchange indices closed lower. The TOP-20 Index fell by -1.27% to 50,119.16 points, the MSE A Index declined by -0.69% to 19,005.34 points, and the MSE B Index dropped by -2.26% to 14,159.61 points. The relatively sharp decline in the MSE B Index reflects stronger selling pressure on small and mid-cap, less liquid stocks. Meanwhile, the milder decline in the MSE A Index indicates that large, actively traded companies remained relatively stable. Market movements during the week were mainly influenced by seasonal and technical factors, with no signs of deterioration in fundamental conditions.

During the period, several companies entered ex-dividend status, leading to price adjustments in line with dividend payouts. In addition, announcements of shareholders’ meetings and the opening of shareholder registration also influenced short-term investor positioning and trading activity. Dividend-related price adjustments and shifts in short-term investor behavior were the main drivers of the market’s negative weekly performance.

INFLATION RE-ACCELERATES, REACHING 7.3%

In March 2026, the Consumer Price Index (CPI) rose to 7.4%, up 1.2 percentage points from the previous month. Higher fuel prices and increased food prices mainly drove this rise.

Due to geopolitical instability in the Middle East, the prices of fuels other than AI-92 gasoline increased, putting pressure on transportation and logistics costs. At the same time, rising meat and meat product prices suggest that inflationary pressures may persist. Food prices nationwide increased by 13.9–15.2% compared to the same period last year, indicating that food dominates the inflation structure. Specifically, meat and meat products increased by 23% year-on-year, making the largest contribution to the CPI. This is likely linked to seasonal supply conditions, higher transport costs, and import-related effects.

In Ulaanbaatar, inflation also re-accelerated in March, rising by 1.5% month-on-month and 7.3% year-on-year. The main driver of inflation in the capital remained food prices, which increased by 15.3% in March—the highest level since September 2023. Experts warn that if fuel and meat price increases continue, inflation may remain elevated in the coming months.

MONGOLIA’S ECONOMIC GROWTH: STRONG EARLY-YEAR PERFORMANCE AND MEDIUM-TERM OUTLOOK

Mongolia’s economy recorded strong growth in the first two months of 2026, supported by mining sector activity and seasonal factors.

According to preliminary data from the National Statistics Office, real GDP grew by 7.6% year-on-year, driven mainly by a 32.3% increase in mining and extractive sector value added and a 4.2% increase in the services sector. Overall, the economy grew by 8.6% in January and 7.6% in February.

However, according to the World Bank’s latest Mongolia economic outlook, the rapid expansion seen in 2025 is expected to slow to around 5.0% in 2026. In the previous year, strong copper production at Oyu Tolgoi and a sharp recovery in the livestock sector following a harsh winter offset declining coal exports and weak foreign investment, bringing growth to 6.9%. This year, as these exceptional factors normalize, growth is expected to moderate.

Going forward, domestic demand and government-led projects will continue to support activity, but external risks such as geopolitical uncertainty, trade tensions, and commodity price volatility may negatively affect growth. The World Bank also noted that as major mining construction phases conclude, foreign direct investment may slow, and private investment is likely to remain limited in the near term.

Domestically, expansionary fiscal policy may support growth in the short term but could increase inflationary pressure and widen the current account deficit. This may lead to continued tight monetary policy. Under these conditions, inflation is expected to average around 8.5% in 2026.

TRADE FINANCE FORUM HELD

Mongolia’s financial sector is increasingly shifting focus from traditional loan growth toward export and trade finance, supporting foreign-exchange-earning sectors through lower-risk, flow-based financing.

In this context, Trade and Development Bank organized the “Trade Finance Forum” last week under the theme “Resource Economy,” discussing trends in natural resources, energy, and international trade finance, as well as opportunities to reduce costs. The forum focused on practical solutions to enhance clients’ competitiveness through banking products and services.

Globally, driven by technological advancement, renewable energy, and AI-based economic expansion, demand for strategic metals such as copper, lithium, and rare earth elements is expected to increase by 30–40% by 2030. While this presents opportunities for resource-rich countries, experts emphasized that finance, trade, and policy coordination will be critical to turning these opportunities into real economic gains.

For Mongolia, the mining sector remains the backbone of the economy, and there is a growing need for a more stable and efficient trade and financing system. As of 2025, Trade and Development Bank alone accounted for 32% of the banking sector’s mining-related financing, of which 60.7% was allocated to gold, 19.6% to coal, 12.3% to iron ore, and 7.4% to other minerals. This indicates gradual diversification in the financing structure. Overall, the growth of trade finance is seen as an early signal of a shift toward supporting non-mining exports through financial channels.

70–80% of cross-border railway construction to be completed this year

The construction of the cross-border railway connecting Gashuunsukhait and Ganqimaodu ports began in June 2025. This is the second cross-border railway to be built between Mongolia and China in 70 years, following the Zamiin-Uud-Erenhot railway established under the 1955 agreement between the two countries.

On March 13-14, a delegation of officials led by Minister of Road and Transport B. Delgersaikhan visited the construction site to inspect progress and oversee operations.

The cross-border railway connecting the Gashuunsukhait and Ganqimaodu ports, the main outlet for Mongolia's coal exports, is being carried out with Mongolian Railways JSC as the project owner, China Railway Construction Corporation (CRCC) as the contractor, and Tavantolgoi Railway LLC responsible for project supervision.

The government has set a goal of increasing foreign currency earnings by boosting coal exports. To ensure that the cross-border railway project proceeds without delays, Prime Minister G. Zandanshatar tasked Minister of Road and Transport B. Delgersaikhan with resolving any Mongolia-related issues on-site and overseeing the smooth continuation of construction.

The Gashuunsukhait-Ganqimaodu railway will be 32.6 km long, featuring both 1,520 mm broad-gauge and 1,435 mm standard-gauge tracks, and is designed as a freight transport network with an annual capacity of 40 million tons. Of this, 19.5 km comprises the main railway line, while the remaining sections-including single- and double-span bridges ranging from 7 to 34 meters in height, a border control center, and technological facilities-together form a comprehensive infrastructure complex.

The construction site within the border zone has been designated as a special-purpose area restricted by both countries, with official notes exchanged through the Ministry of Foreign Affairs. In addition, the temporary regulations for working in the restricted zone were reviewed by the Government of Mongolia and approved through a government resolution. Minister B. Delgersaikhan presented these regulations to the contractor's representatives during a meeting.

The CRCC corporation has requested an additional 51 billion MNT in funding for the cross-border railway project.

At the border's zero point between the two countries, where construction is actively underway, the bridge piers are already visible rising from the ground. Work has begun on the Chinese side, and according to the project design, all 34 piers on China's territory have been completed. On the Mongolian side, out of the 284 planned piers, two have been erected so far, and assembly of a third pier is currently in progress. Starting in June, cross-beam installation from the Chinese side is scheduled to begin on these piers.

A meeting between the Mongolian and Chinese sides on the progress of the cross-border railway project was held at the joint border point within the restricted border zone. Representatives from CRCC Corporation, including Project Manager Wang San Tao and the project team, attended the meeting.

"During the past period, by thoroughly preparing the construction groundwork, we have achieved 10% project completion. The year 2026 will be the peak of construction, with a target of reaching 82% completion. In 2027, we plan to complete the remaining work and operate a trial train in April," reported Kh. Purevjargal, CEO of Tavantolgoi Railway LLC.

Minister B. Delgersaikhan stated, "The government is paying special attention to the construction of the cross-border railway. The contractor has provided all necessary materials and preparations for the project, including sand, gravel, rebar, as well as geodetic and geological groundwork.

Based on the contractor's inspection and review, the government resolution granted permission to use commonly occurring minerals, such as sand and gravel, from the areas they proposed."

He said, "The most important factor is the workforce. Once visas are issued for 1,280 Chinese workers, they will be able to participate in construction on Mongolian territory. The issue of these work visas, requested by CRCC Corporation, was resolved at the government meeting on March 4, 2026. Following official approval, officers from the Immigration Agency of Mongolia's Umnugobi branch will enter the border zone to issue visas to the Chinese workers. This will ensure that construction work can continue without interruption."

The total project budget is 902 billion MNT, and the contractor has proposed a budget increase. Since the signing of the contract, factors such as fluctuations in the exchange rate, rising labor costs, and increases in the prices of other construction materials have led CRCC Corporation to request an additional 51 billion MNT. During the meeting, representatives from the Chinese side inquired about how this matter was being addressed.

In response, Minister B. Delgersaikhan said, "The Government of Mongolia has established a working group tasked with studying and deciding on adjustments to the project's financing. I lead the working group, which also includes the Ministers of Finance, Foreign Affairs, and Industry and Mineral Resources, as well as other officials. The working group has held its initial meeting and will convene a second meeting next week to present its recommendations to the government. In accordance with Mongolia's Law on Tenders, we are discussing arrangements that would allow additional costs to be paid once project completion reaches 15%."

The cross-border railway project manager, Wang San Tao, said, "On the project site, we are using high-capacity machinery and equipment that meet standard requirements. Construction is proceeding in an orderly manner according to the plan. The installation of the main structural bridge piers has been fully completed. The piers are among the most time-consuming tasks. In 2026, we will carry out the bridge construction work. Our personnel have already arrived on the Chinese side of the border. Once visas are issued, allowing them to work on Mongolian territory, we are ready to begin."

On the project site, the piers connecting the two countries have begun to be installed. Meanwhile, on the Chinese side of the border, supporting infrastructure has been put into operation to prepare for construction, including a cross-beam fabrication plant, a facility for steam-drying the cross-beams, and a yard for rebar preparation.

A total of 1,280 workers from China will participate in the project. According to the contract, Mongolian companies will handle approximately 30% of the total project work, providing temporary employment for around 300-400 Mongolian workers. At the site that will serve as a cross-border railway point, more than 30 facilities will be constructed, including worker accommodation, sanitation facilities, and a locomotive staging yard, all of which will be carried out by Mongolian companies. Currently, two Mongolian companies have already begun work.

From the pier displaying the Mongolian national flag and onward, the site lies on Mongolian territory, and construction on the Mongolian side is scheduled to begin this spring. The tallest of these piers reaches 34 meters, tapering to 7 meters at either end. To ensure the load-bearing capacity and stability of each pier, 12 piles, each 1 meter in diameter, were driven 35-41 meters deep beneath it. After proper reinforcement, on-site rebar was installed, concrete poured, and the above-ground piers erected. In other words, the foundation of each pier extends roughly 40 meters underground, making each structure approximately 70 meters in total height.

"Drilling 30-40 meters into the ground to install the pile foundations is very time-consuming. The main work carried out in 2025 was drilling, and on the Mongolian side, 60% of the 2,382 piles have been drilled. Rebar will now be installed in the drilled holes, followed by concrete pouring. In this way, last year we completed the most time-consuming key tasks," explained engineers from Tavantolgoi Railway LLC, who are supervising the project.

Mongolia exported 90 million tons of coal in 2026. Once the cross-border railway becomes operational, its throughput capacity is expected to increase, with a target of exporting 160 million tons. In particular, the Gashuunsukhait border crossing serves as the country's main coal export gateway, currently handling 40 million tons annually. When the railway is operational, transportation costs are expected to drop by 2-2.5 times, export volume is projected to increase by 30 million tons, and transport revenue is estimated to grow by $300 million.

"Even once the railway becomes operational, coal truck drivers will not be out of work. Road transport at this border crossing will continue simultaneously and without interruption," clarified Minister of Road and Transport B. Delgersaikhan.

By A. Khaliun

The Silent Demise: Mongolia’s Fight to Save the Steppe www.earth.org

As the world celebrates the International Year of Rangelands and Pastoralists, Mongolia finds itself at a crossroads. Facing a “silent demise” where 80% of its iconic steppe is degraded, the nation must now prepare to host COP17 and decide: is the solution fewer livestock, or a radical new approach to a climate-stressed landscape?

Mongolia’s rangelands are an iconic and important part of the country’s history, biodiversity and culture. They also represent some of the most important rangeland habitats in the world. Occupying 70% of Mongolia’s landmass, rangelands have always been publicly owned, and directly support the country’s critical livestock pastoralism economy which provides food, income and wealth to half of the population. 

Pastoralism, both in Mongolia and elsewhere, has a long history that intertwines with culture and civilizations. In areas where the local climate is not suitable to agriculture, pastoralism provides a reliable source of food and jobs. Responsibly managed herds serve as critical climate allies, leveraging rotational grazing to stimulate soil health and enhance the land’s capacity for carbon sequestration.

Traditional Mongolian rangeland pastoralism practices are considered resilient and adaptive, but today, they are under pressure from new threats. Mongolia’s rangelands are facing desertification caused by rangeland degradation. Nearly 80% of Mongolia’s land is degraded – double the global average. This, combined with the heavy reliance on rangeland-based pastoralist livelihoods, makes understanding and combatting rangeland degradation critical for the country’s survival.

These issues are not limited to Mongolia: rangelands cover about half of Earth’s terrestrial surface and support as many as 2 billion livelihoods. The United Nations declared 2026 the International Year of Rangelands and Pastoralists – underscoring the importance of the issue of rangeland degradation. However, rangeland degradation does not receive nearly as much attention as similar issues such as deforestation, leading some to call it a “silent demise.”

A Challenging Fight
The challenges to understanding and combatting rangeland degradation are complex. There is no universally agreed-upon definition of degradation, and scientific studies have relied on different methods of quantification of degradation, using different thresholds of vegetation change. Generally, however, it is understood that there are two primary drivers of degradation in Mongolia: overgrazing and climate change.

Overgrazing is widely recognized as a leading cause of rangeland degradation. Due to socio-economic changes during which livestock ownership was privatized in the early 1990s, the population of livestock animals in Mongolia has increased rapidly, overburdening many grazing areas with animals. Goats in particular experienced a sharp increase, coinciding with Mongolia’s cashmere export business boom under increased demand and opaque pricing methods set by manufacturers in neighboring China. It now accounts for 40% of the world’s cashmere production. This is important to note, as goats are browsers as well as grazers; they often pull out the crown of the plant or the entire root system in sandy soils, which is what prevents regrowth.

However, demand from factories and global markets is not the only factor damaging Mongolia’s landscapes. Humans have tended to large herds on the steppe for thousands of years. So, what else is affecting the ability of the land to maintain ecological equilibrium? 

A 2025 study published in Science suggests that climate change may be pushing rangelands out of balance, more than overgrazing. The study suggests that attempting to reduce overgrazing by reducing herd size may adversely impact herders’ livelihoods without tackling the root cause of degradation. Additionally, the authors suggest that traditional models often blame rising herd sizes for poor land conditions without accounting for the fact that climate-driven droughts can make even small herds appear too large for the scorched earth.

The study used climate averages and ecosystem type data to analyze and estimate the impacts of both grazing and climate stressors on rangeland health. It found that climate change-linked factors, such as warming and changes in precipitation patterns, had a greater effect than grazing pressures. The authors also discussed how herd sizes are affected by seasonality and rangeland types – herders may wish to stay in cooler mountain taiga rangelands during warm years, possibly amplifying the effects of both climate stressors and grazing stressors on these desirable areas. 

Mongolia at COP17
Understanding the causes of rangeland degradation is the first step in changing how the Mongolian government and rangeland managers create and implement policy. In the aforementioned study, the authors said, “Our findings suggest that policy levers focused on herd size alone – such as Mongolia’s livestock taxes – may have a limited effect on desired rangeland outcomes, especially at multiyear time scales.” They suggested managing different types of rangeland differently, based on how they are affected by climate change – for example, focusing more effort on areas to make them better for livestock under climate-stressed conditions, or taxing livestock in certain areas at a higher rate. 

Working to protect Mongolia’s rangelands and the ecological, cultural and societal benefits that they bring will become increasingly important as climate change accelerates and pressures from the globalized economy grow.

Whether it is through herd management, climate change mitigation or adaptation, the question of how to fight desertification will be on the table at COP17 this year in Mongolia’s capital of Ulaanbaatar. The country, which this year will take up the presidency of the UN Convention to Combat Desertification, has the opportunity to take the lead in effectively combatting degradation and protecting its natural and cultural heritage. 

BY Anna Ginsburg

Mongolia Launches Hazardous Chemicals Elimination Project with UNDP & GEF www.news.fundsforngos.org

The United Nations Development Programme (UNDP), in partnership with Mongolia’s Ministry of Food, Agriculture and Light Industry (MoFALI) and with funding from the Global Environment Facility (GEF), has launched a six-year project titled “Eliminating Hazardous Chemicals from Supply Chains in Mongolia.” The initiative aims to phase out toxic and hazardous chemicals from the country’s wool, cashmere, and leather supply chains by strengthening chemicals management systems, promoting cleaner and more resource-efficient production practices, and enhancing the global competitiveness of Mongolian products.

Bringing together government agencies, industry stakeholders, research institutions, and development partners, the project focuses on improving environmental and occupational health standards while supporting circular economy approaches, better waste and wastewater management, and sustainable industrial innovation. It is expected to reduce environmental and human health risks while boosting the resilience and value of key rural industries that support herder livelihoods and Mongolia’s light manufacturing sector.

UNDP and national partners emphasized that the initiative will help transform Mongolia’s traditional supply chains into safer, more sustainable, and internationally competitive systems, aligning environmental protection with long-term economic development goals.

Although Mongolians may outwardly resemble Asians, they are not actually such www.open.kg

Alicia Campi — research professor at Johns Hopkins University and American Mongolist
“The reason Mongolia has been able to coexist between two powerful states is due to their unpredictable behavior,” says the American expert in Mongolian studies.

Alicia Campi, a research professor at Johns Hopkins University, is an expert on Mongolia and China. In her career, she spent 14 years working in the U.S. State Department's diplomatic service in countries such as Singapore, Taiwan, Japan, and Mongolia. Since 2013, she has also been a fellow at the Johns Hopkins School of Advanced International Studies, where she actively studies the processes of democratization in Mongolia after the Cold War, as well as the geopolitical aspects of Northeast Asia and U.S.-Mongolian relations.

Alicia Campi highlights ten features that make Mongolia unique.

1. One of the key traits of the Mongols is their independence from Chinese culture. Social norms and views in Mongolia do not align with Confucian teachings, and every Mongol has their own perspective.

2. Mongolia, being a landlocked country situated between two powers, has throughout its history been influenced by its neighbors, which in turn has affected its development. Mongolia's future, due to its geographical position, cannot escape the influence of these two major neighbors.

3. Diplomatic relations between the U.S. and Mongolia significantly depend on the interactions between the U.S. and China, as well as with Russia.

4. As a specialist who has studied the history of Mongolia, I am aware of the complex relationships between China and Mongolia, which have deep historical roots. The Mongols and Chinese have experienced mutual animosity, and improving relations requires seeking diplomatic avenues.

5. The nomadic heritage of the Mongols and their mentality represent unique qualities that grant the people flexibility and the ability to adapt to difficult conditions.

6. Mongols strive for democracy, advocating for their views. However, despite this, there is a lack of teamwork and patience in their culture. I caution against excessive criticism when it comes to corruption.

7. The small population of Mongolia creates challenges in labor issues, especially during the transition to democracy. My experience at the U.S. embassy in 1990 showed that there were no qualified specialists to carry out the necessary projects.

8. The perception of Mongolia outside the country is often associated with Genghis Khan and endless steppes, which is a result of the Western educational process.

Nevertheless, the modern economy of Mongolia is focused on the mining industry, and the legal system remains unstable. As an expert, I am convinced that Mongolia will never become predictable due to its nomadic nature, which is quite similar to the situation in the U.S.

9. Although Mongols may outwardly resemble Asians, they are not part of that group. Mongolia remains a mystery among the countries of the region, and its unstable politics create an impression of a lack of prospects.

10. “Mongolia could have disappeared from world history, but it still exists.” Instead of focusing on the negative, it is worth considering how the Mongols managed to maintain their independence when many countries around them disappeared.

— I consider myself fortunate to have studied the history of Mongolia and served my country. My experience in diplomacy and interest in foreign policy have helped me gain a deeper understanding of this country. I strive to learn more about its economic and environmental issues, domestic politics, and social matters. My contribution lies in understanding the unique nomadic heritage of Mongolia and its culture. Mongols, as an Asian people, are not oriented towards Confucianism. This allows them to perceive ideas on equal terms, which distinguishes them from their neighbors. Mongolia has not disappeared because its people value equality and possess flexibility. The Mongols have a mysterious quality that attracts foreigners, even if they do not adhere to accepted norms. I take pride in being able to connect two different cultures and promote mutual understanding between our peoples.

prepared by MiddleAsianNews

France Donates High-Angle, Water Rescue Equipment www.montsame.mn

The Directorate-General for Civil Security and Crisis Management of France has handed over rescue equipment for high-angle and water operations to Mongolia’s National Emergency Management Agency (NEMA) as a grant.

According to NEMA, a total of 98 pieces of equipment across 28 types for high-angle rescue operations were delivered to the capital city’s Rescue Unit, while water rescue gear was provided to 50 rescuers.

French Ambassador to Mongolia Corinne Pereira emphasized that France attaches importance to bilateral cooperation in the field of disaster protection and expressed satisfaction in supporting the safety of rescuers who work to protect citizens from disasters and accidents.

Training on the use of the equipment is also being conducted, contributing to enhancing the professional skills of personnel and strengthening their operational capacity.

Luxembourg-Backed Project Advances to National Cardiovascular Center Stage www.montsame.mn

 A nationwide project to reduce cardiovascular disease—one of the leading causes of illness and death in Mongolia—is being advanced.

A delegation led by Gusty Graas, Member of Parliament of the Grand Duchy of Luxembourg and Chair of its Foreign and European Affairs Committee, visited the State Third Central Hospital to review progress on a project to establish a National Cardiovascular Center. During the visit, the delegation praised the development of cardiovascular services, as well as the results and achievements of the project implemented over the past 25 years with grant assistance from the Government of Luxembourg.

According to the State Third Central Hospital, the project—implemented in five phases since 2001 under Mongolia–Luxembourg cooperation—has made a significant contribution to the development of cardiology in Mongolia and helped bring the sector closer to international standards.

The initiative has already covered all 21 aimags and nine districts, and its fifth phase involves the establishment of the national center. Plans call for building a modern, fully equipped 120-bed National Cardiovascular Center between 2025 and 2029, enabling integrated services including diagnostics, surgery, emergency care, and rehabilitation in one location.

Over the past five years, the State Third Central Hospital has successfully localized advanced cardiovascular surgeries, performing more than 6,500 procedures and keeping MNT 39 billion in foreign currency within the country, Director Tumur-Ochir Ts. noted.

Founded in 1954, the P.N. Shastin State Third Central Hospital serves as a national referral center, providing leading care in cardiovascular and neurological fields.

SMTrack expands into Mongolia's events market www.klsescreener.com

SMTrack Bhd has teamed up with Mongolia-based Madyna Global LLC to buy a company that operates one of the largest rooftop event venues in Mongolia.

SMTrack today said it had signed a joint venture agreement with Madyna Global to establish a special purpose vehicle (SPV) for the acquisition of Gold Moon DTT LLC.

Gold Moon operates Z Terra Event Hall in Ulaanbaatar, one of the largest rooftop event venues in Mongolia, and is involved in food and beverage, hospitality and event management.

SMTrack will hold a 90 per cent stake in the SPV, with Madyna the remaining 10 per cent.

"Madyna and Gold Moon had in principle agreed that the joint venture shall be by way of Madyna acquiring 60 per cent equity in Gold Moon," it said.

The SPV will take over Madyna's rights under a memorandum of agreement and negotiate the acquisition of Gold Moon, which owns the Z Terra brand and operates Z Terra Event Hall.

Madyna, incorporated in Mongolia in 2009, is primarily involved in business consultancy and foreign trading, with extensions into food and beverage-related activities.

Gold Moon is a privately held hospitality and event management company focusing on corporate, social and lifestyle events.

Under the joint venture agreement, Madyna will lead the acquisition process, including negotiations, due diligence, valuation and regulatory approvals.

SMTrack will provide administrative, financial and technical support where required.

The deal is subject to conditions precedent, including satisfactory due diligence and an independent valuation of Gold Moon.

These conditions must be met within six months, with a possible three-month extension.

If the conditions are not fulfilled within the stipulated timeframe, the agreement will lapse unless otherwise mutually extended or waived.

"The proposed joint venture provides an opportunity for the SMTrack group to increase its revenue base and improve its financial position by expanding its food & beverage related business via the acquisition of Gold Moon DTT," it said.

SMTrack said the joint venture is expected to improve the company's future earnings prospects.

Mongolia exports surge 62.3% in first quarter compared to last year www.azertag.az

In the first quarter of this year, Mongolia traded with 143 countries, reaching a total foreign trade turnover of USD 7.4 billion, according to Montsame.

Of this, exports amounted to USD 4.9 billion, while imports stood at USD 2.5 billion, resulting in a trade surplus of USD 2.4 billion, according to the National Statistics Office.

Compared to the same period last year, total trade turnover increased by 32.5% (USD 1.8 billion,) exports rose by 62.3% (USD 1.9 billion), and the trade surplus increased by 5.2 times (USD 1.9 billion). Meanwhile, imports decreased by 2.7% (USD 68.3 million).

The USD 1.8 billion increase in exports during the first quarter was mainly driven by higher shipments of copper ore and concentrates (up USD 1.3 billion), coal (up USD 453.7 million), unrefined and semi-processed gold (up USD 148.8 million), and lead ore and concentrates (up USD 21.5 million).

On the other hand, exports of crude oil fell by USD 16.0 million, fluorspar ore and concentrates by USD 9.4 million, refined copper and alloys by USD 10.4 million, and horse meat by USD 4.6 million.

Improved Road Design in Mongolia Halves Predicted Fatal and Serious Injuries www.irap.org

An Asian Development Bank (ADB)-funded project is optimising the safety for the road connecting Uliastai to Altai in Mongolia, reducing predicted fatal and serious injuries by 51.7% and delivering 4- and 5-star safety outcomes.

The US$158 million Regional Road Development and Maintenance – Phase 3 Project for the Government of Mongolia aims to promote inclusive economic growth by upgrading key sections of the state road network, improving road safety, asset management and the climate resilience of two critical routes – Uliastai-Altai (198 km) and Khovd-Ulaangom (163 km). The improvements are vital in connecting Mongolia’s western aimag capitals to its major east-west corridors linking the country to the People’s Republic of China and the Russian Federation.

As part of the project, Kocks Consult GmbH tasked iRAP with evaluating the safety of the proposed road upgrade design for a 140.8 km section of the Uliastai-Altai route using the iRAP Star Ratings methodology.

The analysis builds on a baseline assessment of the existing road performed in 2023, enabling before and after safety analysis.

The incorporation of iRAP assessment recommendations to the  design showed impressive improvements in road safety:

Increased safety for vehicle occupants and motorcyclists through road paving and widening, implementation of roadside barriers, improved delineation with advance warning signs and markers installed at significant curves, safer roadside conditions, and effective speed management at critical locations.
A 51.7% reduction in predicted fatal and serious injuries (FSIs) – preventing an estimated 118 FSIs over 20 years.
The safety Star Rating increased dramatically. Whilst the existing road is predominantly 1-2 stars (very high risk), 100% of the upgrade design length achieves a 4-star or better safety rating for vehicle occupants (including 83% at the highest 5-star safety rating). For motorcyclists, 96% of the design length achieves a 4-star safety rating, 2.1% achieves a 5-star safety rating, and 2.1% achieves a 3-star safety rating.
Exceeds the minimum 3-star safety rating required by both the ADB and United Nations’ Global Road Safety Performance Target 3.