TMK gas surge clears path to production at Mongolian project www.thewest.com.au

TMK Energy has delivered another impressive monthly update at its Gurvantes XXXV project in Mongolia, with March gas rates surging 48 per cent to 866 cubic metres per day, hitting a record 1,350 cubic metres in a single day.

The most recent well, LF-07, continues to steal the spotlight, confirming gas desorption is now underway and marking a key shift from early dewatering towards commercial-scale flows.

After a brief operational delay for safety and facility upgrades, output has rebounded to almost 23,000 standard cubic feet per day, with water production steady at 490 barrels per day - textbook reservoir behaviour in action.

The pilot well complex’s average daily output surged from 583 cubic metres in February. The star performer, LF-07, showed pressure communication between wells - a clear signal that the reservoir is behaving as a connected system rather than isolated pockets. This growing connectivity should underpin more consistent, controlled and commercial-scale gas flows down the track.

Surface upgrades at LF-07 have also helped to sustain higher flows. TMK is now carefully managing output to preserve the reservoir, maximise long-term volumes and feed potential early-stage power generation projects.

TMK also bolstered its operational momentum with regulatory support. In mid-March, the company signed a memorandum of understanding (MoU) with Mongolia’s regulator, MRPAM, allowing gas to feed a pilot power project and establishing a framework to convert parts of the 8,400 square kilometre permit into an exploitation licence.

Approval of its 2026 work program has also greenlit three additional production wells for the year, reinforcing growth and ensuring a robust development rollout.

The acceleration of the gas rate at LF-07 is a clear demonstration that gas is being desorbed from the coals up-dip from this well and, more importantly, proof that we have reduced the reservoir pressure sufficiently to produce what appears to be commercially significant quantities of gas. The MoU signed with MRPAM, coincident with this increase in gas rates, is another positive indication that there is a very strong push by the Mongolian Government to quickly accelerate the growth of the gas industry.

TMK Energy chief executive officer Dougal Ferguson
With the MoU in place, TMK now has a ready-made market for its pilot production. To demonstrate the project’s potential to future off-takers, TMK is targeting a supply of 5,000 cubic metres of gas per day, with scope to scale up to 15,000 cubic metres per day under an extended arrangement.

Looking ahead, the company is expected to continue optimising its existing wells, potentially replicating the LF-07 design across new hotspots as it expands the pilot footprint.

TMK is sitting atop a contingent 1.2 trillion cubic feet of gas, with over 5 trillion cubic feet of upside less than 20 kilometres from the Chinese border - a stone’s throw from major infrastructure and energy markets. With Asian gas demand surging amid energy security and emissions pressures, the project’s potential scale and proximity appear to give it a clear commercial edge.

With rising output, regulatory backing and approved drilling, TMK looks set to convert early pilot success into a production-ready asset.

And if the gas rate continues to accelerate, the company could be poised to turn its Gobi Basin pilot into a major success story, delivering value and momentum in the Mongolian gas market.

5 children die from meningococcal disease and measles www.ubpost.mn

As of April 6, seven confirmed cases of meningococcal infection have been reported nationwide, resulting in three deaths, according to health authorities. The cases include three in Ulaanbaatar City, two in Khovd Province, and one each in Uvs and Darkhan-Uul provinces. The infections have affected children aged between six months and 10 years, with 66.7 percent of cases occurring in children under the age of five, highlighting the vulnerability of younger age groups.

Data from the past six years indicate that up to 56 percent of all meningococcal infections have been recorded in the capital city. Higher incidence rates have also been observed in Bayan-Ulgii, Darkhan-Uul, Dornod, Khuvsgul, Orkhon, Selenge, Tuv, Uvs, Uvurkhangai, and Zavkhan provinces. Within the capital city, Bayanzurkh, Chingeltei, Nalaikh, and Sukhbaatar districts have been identified as high-risk areas, suggesting the need for targeted monitoring and localized response measures.

Health officials note that meningococcal infections typically peak between December and June, accounting for approximately 80 to 90 percent of total annual cases, with a particularly sharp rise during the spring season. The National Center for Communicable Diseases has warned that case numbers may continue to increase in the coming weeks, urging parents and caregivers to remain vigilant for early symptoms such as fever, headache, vomiting, and rash. Early detection and immediate medical attention are critical to preventing severe complications and fatalities.

Meanwhile, Mongolia continues to face a prolonged measles outbreak, now in its 408th day. Two children in rural areas have recently died, bringing the total death toll to 17. A total of 14,562 measles cases have been recorded nationwide, with 62 patients currently hospitalized and receiving treatment. Among them, one child remains in critical condition.

Health authorities emphasize that both meningococcal infection and measles are preventable through vaccination. Citizens are encouraged to take advantage of available immunization services, including voluntary vaccination at specialized clinics, and to follow public health guidance aimed at reducing transmission, particularly among young children and vulnerable populations.

‘Kherlen’ Meteorite Drawing Global Scientists’ Attention www.montsame.mn

The “Kherlen” meteorite is one of the meteorites that has attracted the attention of scientists worldwide. Preserved at the Natural History Museum, this specimen is a tektite meteorite with a glass-like structure, unlike typical stony or iron meteorites.

At around 1:00 a.m. on March 22, 1950, the meteorite fell about 80 km south of the Kherlen River, at a place called Uudiin-Am in Dornod aimag. Many local residents witnessed the incident and described a loud noise and a bluish-green flame as it descended. Upon impact, it melted thick snow in the surrounding area, burned vegetation over an area roughly the size of a traditional ger base, and created a deep crater where it embedded into the ground.

Named “Kherlen,” the meteorite weighs 32.7 kg and measures approximately 2 meters in length and over 1 meter in width. It has a rounded, relatively thin form with a glossy, enamel-like underside. Its appearance is glassy, brownish-green in color, and it is a lightweight yet hard metal rock.

Similar meteorites had previously been found in countries such as former Czechoslovakia, former Soviet Union, the United States, Ivory Coast, South Asia, and Australia. However, since none had been directly observed falling, scientists had long debated whether they were truly meteorites. The “Kherlen” meteorite provided crucial evidence which confirmed that such tektites are indeed of extraterrestrial origin.

Additionally, in 1969, samples of lunar soil brought back to Earth during the Apollo 11 Moon Landing contained rock material with a composition similar to these glassy meteorites.  

Cabinet Adopts Measures to Improve Vegetable Supply, Support Farmers www.montsame.mn

At its meeting on April 8, 2026, the Cabinet adopted a series of measures to be implemented in the agriculture sector. Minister of Food, Agriculture, and Light Industry Iderbat Tsagaankhuu emphasized that the government will place special focus on ensuring the normal operation of the crop farming sector and supporting its sustainable development.

The government has issued a resolution and official directives with a comprehensive scope aimed at improving and increasing the supply of vegetables. Within this framework, several major decisions have been made in the crop farming sector. In particular, governors of the capital and aimag have been tasked with accelerating land management reforms and ensuring that vegetable growers fully exercise the rights stipulated under Mongolia’s land law.

“In response to current conditions, MNT 1 billion in financing has been approved to improve the availability and quality of vegetables. This funding will be used to purchase seeds for four types of vegetables, which will be provided to farmers at discounted prices and on credit terms. Although the allocation is valued at MNT 1 billion in seeds, once planted and harvested, it is expected to yield up to 19,000 tonnes of vegetables.

The government has also decided to place special emphasis on both summer and winter greenhouse farming. For summer greenhouses, MNT 2.1 billion will be allocated for procurement, and citizens engaged in this activity will be offered long-term, interest-free loans. For winter greenhouses, where heating is the main challenge and relies on electricity, electricity tariff discounts will be provided, amounting to over MNT 400 million in support,” the minister said.

The Cabinet also decided to supply 10,000 tons of fuel required for spring planting at discounted prices. The sector will internally manage related financial constraints, while approximately MNT 16 billion from the 2026 budget package will be allocated to ensure normal spring planting operations. Minister Iderbat noted that as spring planting begins in May and harvesting takes place in autumn, preparations for machinery and materials required for autumn harvesting will be ensured in advance in cooperation with the Ministry of Industry and Mineral Resources.

The minister also noted recommendations have been issued to the Bank of Mongolia to urgently make available MNT 130 billion in loan financing. “Businesses have reported difficulties accessing loans from commercial banks due to a lack of available funding. This issue was also raised during a meeting in Darkhan. Therefore, recommendations have been given to the Governor of the Bank of Mongolia to apply flexible conditions to enterprises facing financial difficulties due to drought and other force majeure factors,” he said.

In addition, the government will focus on expanding agricultural exports and better utilizing opportunities under trade agreements Mongolia has signed with five countries in the Eurasian region.

Mongolian civil servants allowed to work remotely 1 day per week www.xinhuanet.com

The Mongolian government on Wednesday decided to allow civil servants to work remotely for one day out of the five-day workweek, said the government's press office.

The decision was made during the government's regular cabinet meeting, the press office said.

In addition, working either part-time or full-time on weekends is discouraged for civil servants.

The government believes the measure will be economically efficient and help improve both job satisfaction and productivity among civil servants.

According to official data, as of 2025, more than 213,600 civil servants are employed across 4,330 public organizations in Mongolia, which has a population of 3.5 million.

Mongolia cancels state inspections to boost economy www.xinhuanet.com

The Mongolian government on Wednesday decided to cancel planned state inspections at 9,376 sites owned by citizens, businesses, and organizations, according to the government's press office.

The decision was made during the first regular meeting of the country's new coalition government. The press office stated that the move is part of the government's "Liberate" initiative, which aims to stimulate the economy by reducing administrative burdens and supporting citizens and enterprises during a challenging period.

According to the statement, data from inspections conducted in 2024 and 2025 showed that some organizations were inspected more than 30 times per year.

Mongolia's new coalition government was sworn in last week. It is led by newly appointed Prime Minister Nyam-Osor Uchral, chairman of the ruling Mongolian People's Party (MPP), and includes the MPP, the opposition Hun Party, and the National Coalition.

The political transition followed the resignation of former Prime Minister Gombojav Zandanshatar, who stepped down at his own request late last month.A

Kakao Bank targets Mongolia in next global push www.koreaherald.com

South Korea’s internet-only lender Kakao Bank is stepping up its push into artificial intelligence, aiming to evolve into a personalized financial assistant while accelerating its overseas expansion, including entry into Mongolia.

Speaking at a press conference in Yeouido, Seoul, on Wednesday, CEO Yun Ho-young said the bank will leverage AI to deliver highly customized financial services and drive innovation beyond the domestic market.

Mongolia next in global push

Kakao Bank has officially named Mongolia as its next expansion target, following earlier moves into Indonesia and Thailand. The bank plans to export its proprietary credit evaluation model, Kakao Bank Score — which incorporates nonfinancial data — to local financial institutions.

Yun described the strategy as an extension of Kakao Bank’s “inclusive finance” model, adding that its footprint in Southeast Asia and Mongolia will serve as a springboard for broader global growth.

Executives from key partners, including Indonesia’s Superbank and Thailand-based Bank X, attended the event.

Superbank, Kakao Bank’s first overseas investment, has emerged as Indonesia’s largest digital bank by market capitalization. CEO Tigor M. Siahaan said the lender reached break-even in March 2025 and has since expanded to 6.4 million users.

He credited Kakao Bank’s model — including gamified features such as “Challenge” and “Lucky Pocket” — with boosting engagement in underserved segments, reaching around 1.2 million daily transactions.

In Thailand, Bank X is preparing to launch virtual banking services in early 2027. CEO Punnamas Vichitkulwongsa said the initiative targets structural gaps in the financial system, noting that a significant share of savings remains cash-based.

Bank X plans to adopt an AI-driven model to reduce costs and improve accessibility, while incorporating Kakao Bank’s user-friendly features to expand formal lending to freelancers and small business owners.

Kakao Bank is also expanding services for foreign users, targeting roughly 20 million potential customers — including foreign residents, short-term visitors and overseas Koreans — with AI-powered translation capabilities.

AI-native bank

Kakao Bank also outlined a broader transition toward becoming an “AI Native Bank,” leveraging its base of roughly 27 million users and 70 trillion won ($52 billion) in deposits.

The bank is expanding beyond core services such as transfers and deposits into payments and investment offerings, aiming to shift customer value from “sending and storing money” to “spending and growing wealth.”

New initiatives include customized debit cards, a second private-label credit card, a payment hub that integrates transaction data, and an investment tab for product comparison and portfolio management. The bank also plans to enter the retirement pension market.

Yun highlighted what he described as the “paradox of expansion,” where adding more features can reduce usability, stressing that AI will play a central role in proactively identifying and addressing user needs.

Kakao Bank is embedding AI across its platform and plans to introduce a dedicated AI tab. By combining user data with a finance-specific large language model, the bank aims to deliver hyper-personalized services.

Looking further ahead, Kakao Bank said it aims to lead the development of a won-based stablecoin and position itself as a global financial platform.

The bank targets 100 trillion won in assets and a return on equity of 15 percent by 2027, driven by balanced growth across its lending, platform and asset management businesses.

ch0221@heraldcorp.com

Mongolia Invites Bids for Major Steel Complex Project www.montsame.mn

The government will invite leading steel-producing countries, major enterprises, and investors to participate in the Steel Complex Project, sending out bidding documents and organizing the selection process by the 27th of next month.

The project involves the construction of a steel production complex with an annual capacity of at least one million tons in Orkhon soum of Darkhan-Uul aimag, to be developed under an industrial and technology park model. According to the preliminary feasibility study, total investment is estimated at USD 806 million.

As of the end of 2025, Mongolia imported one million tons of steel products worth USD 911 million, with demand projected to reach USD 1.6 billion by 2030. Once operational, the steel complex is expected to improve the balance of payments by approximately USD 350–400 million and reduce construction costs by around 10 percent.

During the Cabinet session on April 8, 2026, officials noted that Mongolia currently lacks enterprises with experience in building and operating large-scale steel plants using iron ore-based technology. The limited availability of specialized engineers and experts poses challenges to implementing the project domestically and increases potential technological and financial risks.

Therefore, the government considers it appropriate to implement the project in partnership with experienced international entities possessing capital, technology, and market access in the steel industry.

“Mongolia will have a steel plant capable of meeting at least 60–70 percent of its domestic demand. Once operational, the plant is expected to halve cement costs, reduce prices of key construction materials, lower import dependence, and create around 1,700 permanent jobs,” said Minister of Industry and Mineral Resources Damdinnyam Gongor.

PM Uchral Freezes 3,000 Civil Service Positions, Moves to Cut Workload www.montsame.mn

Prime Minister Uchral Nyam-Osor has instructed Cabinet members to freeze approximately 3,000 vacant positions in the public sector and refrain from making new appointments or personnel changes. This directive is formalized under a Government resolution titled “On Certain Measures to Optimize the Structure and Organization of State Institutions and Reduce the Workload of Civil Servants.”

Under the resolution, recruitment and internal transfers for around 3,000 vacant civil service positions will be suspended until a functional review of ministries and agencies is completed. The measure is expected to save an amount equivalent to staffing for roughly 26 ministries, with an estimated MNT 7.4 billion in salary expenditures.

The Prime Minister also announced that civil servants will be relieved from preparing 20–30 types of reports on a monthly, quarterly, semi-annual, and annual basis. Instead, the “Once-Only” principle will be implemented, meaning reports with overlapping content will be produced just once.

Although legislation stipulates that the government should not request information already in its possession from citizens, inter-agency data sharing remains insufficient. Officials have been tasked with ensuring proper implementation of this legal provision.

Furthermore, cabinet members and heads of ministries and agencies have been instructed to utilize the “eCabinet dashboard,” which supports data-driven decision-making based on big data, and to ensure access to necessary information. The Prime Minister called on the cabinet members to take the lead in adopting this system.

The resolution also introduces more flexible working arrangements, including improved time management, discouraging weekend work for civil servants, and allowing one day of remote work per week.

The Central Bank of Mongolia Sells Gold and Silver Bars as Souvenirs and Collectibles www.open.kg

The Treasury Fund of the Bank of Mongolia has announced the launch of sales of gold and silver bars that meet international standards. These bars can serve as gifts, souvenirs, or collectibles.

The refining process of these bars was carried out at facilities accredited by the London Bullion Market. The central bank confirmed the high quality and purity of these precious metals with a guarantee of traceability of their origin.

Gold bars have a fineness of 999.9 and are available in weights of 1, 5, 10, and 100 grams. Silver bars have a fineness of 999 and are offered in weight categories of 1 ounce, 100, 250, and 500 grams, as well as 1 kilogram.

Additional information about commemorative coins and bars available for sale can be found on the website erdenesiinsan.mn.