1 GOLD AND COPPER PRICES SURGE WWW.UBPOST.MN PUBLISHED:2025/04/02      2 REGISTRATION FOR THE ULAANBAATAR MARATHON 2025 IS NOW OPEN WWW.MONTSAME.MN PUBLISHED:2025/04/02      3 WHY DONALD TRUMP SHOULD MEET KIM JONG- UN AGAIN – IN MONGOLIA WWW.LOWYINSTITUTE.ORG  PUBLISHED:2025/04/02      4 BANK OF MONGOLIA PURCHASES 281.8 KILOGRAMS OF PRECIOUS METALS IN MARCH WWW.MONTSAME.MN PUBLISHED:2025/04/02      5 P. NARANBAYAR: 88,000 MORE CHILDREN WILL NEED SCHOOLS AND KINDERGARTENS BY 2030 WWW.GOGO.MN PUBLISHED:2025/04/02      6 B. JAVKHLAN: MONGOLIA'S FOREIGN EXCHANGE RESERVES REACH USD 5 BILLION WWW.GOGO.MN PUBLISHED:2025/04/02      7 185 CASES OF MEASLES REGISTERED IN MONGOLIA WWW.AKIPRESS.COM PUBLISHED:2025/04/02      8 MONGOLIAN JUDGE ELECTED PRESIDENT OF THE APPEALS CHAMBER OF THE ICC WWW.MONTSAME.MN PUBLISHED:2025/04/01      9 HIGH-PERFORMANCE SUPERCOMPUTING CENTER TO BE ESTABLISHED IN PHASES WWW.MONTSAME.MN PUBLISHED:2025/04/01      10 LEGAL INCONSISTENCIES DISRUPT COAL TRADING ON EXCHANGE WWW.UBPOST.MN PUBLISHED:2025/04/01      УСТСАНД ТООЦОГДОЖ БАЙСАН УЛААНБУРХАН ӨВЧИН ЯАГААД ЭРГЭН ТАРХАХ БОЛОВ? WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     САНГИЙН ЯАМ: ДОТООД ҮНЭТ ЦААСНЫ АРИЛЖАА IV/16-НААС МХБ-ЭЭР НЭЭЛТТЭЙ ЯВАГДАНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     МОНГОЛБАНКНЫ ҮНЭТ МЕТАЛЛ ХУДАЛДАН АВАЛТ ӨМНӨХ САРААС 56 ХУВИАР, ӨМНӨХ ОНЫ МӨН ҮЕЭС 35.1 ХУВИАР БУУРАВ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     Б.ЖАВХЛАН: ГАДААД ВАЛЮТЫН НӨӨЦ ТАВАН ТЭРБУМ ДОЛЛАРТ ХҮРСЭН WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     1072 ХУВЬЦААНЫ НОГДОЛ АШИГ 93 500 ТӨГРӨГИЙГ ЭНЭ САРД ОЛГОНО WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/02     Н.УЧРАЛ: Х.БАТТУЛГА ТАНД АСУУДЛАА ШИЙДЭХ 7 ХОНОГИЙН ХУГАЦАА ӨГЧ БАЙНА WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/02     “XANADU MINES” КОМПАНИ "ХАРМАГТАЙ" ТӨСЛИЙН ҮЙЛ АЖИЛЛАГААНЫ УДИРДЛАГЫГ “ZIJIN MINING”-Д ШИЛЖҮҮЛЭЭД БАЙНА WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ТӨМӨР ЗАМЫН БАРИЛГЫН АЖЛЫГ ЭНЭ САРЫН СҮҮЛЭЭР ЭХЛҮҮЛНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/02     “STEPPE GOLD”-ИЙН ХУВЬЦААНЫ ХАНШ 4 ХУВИАР ӨСЛӨӨ WWW.BLOOMBERGTV.MN НИЙТЭЛСЭН:2025/04/02     ҮЙЛДВЭРЛЭЛИЙН ОСОЛ ӨНГӨРСӨН ОНД ХОЁР ДАХИН НЭМЭГДЖЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2025/04/01    

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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Defending champions Mongolia beat hosts Malaysia at Ice Hockey Challenge Cup of Asia www.insidethegames.biz

Mongolia began the defence of their International Ice Hockey Federation Challenge Cup of Asia title by beating hosts Malaysia 9-5 on March 03 Sunday.

Altangerel Ichinnorov, Enkhamgalan Erdenejav and Mishigsuren Namjil all bagged two goals each for the holders at the Malaysia National Ice Skating Stadium.

Also on the scoresheet were Erdenesukh Bold, Batgerel Zorigt and Gerelt Ider.

Malaysia, who defeated Singapore in the Group A opener on Friday (March 1), were unable to keep in touch with their opponents.

Their goals came courtesy of braces for Chee Ming Bryan Lim and Wai Kin Brandon Tan, as well as a solitary strike from Aiman Zul Rafiq Mohd Fadzul.

 
 
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R.Dagva becomes Chairman of City Council www.montsame.mn

Ulaanbaatar/MONTSAME/ The Citizens’ Representatives Khural (City Council) of the capital city elected its new Chairman during its 22nd meeting on February 28.

For the reason that former Chairman of the City Council S.Amarsaikhan was appointed as Governor of the Capital City and Mayor of Ulaanbaatar on February 27, it necessitated to elect new Chairman of the City Council.

As a result of the voting, R.Dagva was elected as Chairman of the City Council with 69.05 votes of all turnouts and took his office.

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North Korea becomes largest debtor to Sweden, owing $300+ million – report www.rt.com

Pyongyang has a weird and now record debt to the Scandinavian nation, which has hit 2.8 billion Swedish kronas ($302 million), according to local media citing government agency insuring export deals.
The unpaid bill includes a thousand model 144 Volvos and mining equipment supplied by Atlas Copco industrial company as well as other Swedish producers. The items were shipped to North Korea back in the 1970s, but the country has not still honored the debts.

After around 45 years of missing the deadline, the North’s initial debt rose from 600 million kronas ($65 million at the current rate) to record 2.8 billion ($302 million), the chief analyst of the Swedish Export Credit Agency (EKN), which serves as credit insurer for companies’ trade deals, told Sveriges Radio. Stefan Karlsson explained that the sum has been surging due to added interest, and rose by 100 million kronas ($15 million) in one year, thus making North Korea Sweden's major debtor. Previously, Cuba held the position.

Sweden received the last payment from the North in the late 1980s, and Karlsson says that the chance that it will get the money back is pretty small given North Korea 's current economic situation.

Some of the exported Volvos were previously spotted in North Korea. Back in 2016, the Swedish Embassy in Pyongyang posted a photo showing one of the “still unpaid” cars, saying it is used as a taxi in the northeastern city of Chongjin.

EKN reportedly reminds North Korea to pay off the debts twice a year, however, the requests are usually met with silence.

 
 
 
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Brumadinho dam collapse in Brazil: Vale mine chief resigns www.bbc.com

The head of Brazil's Vale mining giant has stepped down following the collapse of a dam which killed 186 people in the town of Brumadinho.

Fabio Schvartsman and several other executives asked to be removed after prosecutors called for their dismissal.

At least 122 people are still missing more than a month after the accident at the dam, which collected waste from an iron ore mine in Minas Gerais state.

Vale is the world's biggest producer of iron ore.

The company described the executives' removal as temporary, but did not say how long it would last.

The announcement was made late on Saturday, during the Brazilian carnival weekend. The main Sao Paulo stock exchange will be closed on Monday and Tuesday.

The mining disaster was the second in the region since 2015, when a nearby dam co-owned by Vale collapsed.

Brazilian authorities were severely criticised for being too slow and complacent over that accident. No-one has yet been imprisoned.

Vale said Eduardo Bartolomeo, executive director of base metals, had been appointed as the new head of the company.

The other executives stepping down were Vale's head of ferrous minerals and coal, Peter Poppinga, planning director Lúcio Flávio Cavalli and Silmar Magalhães Silva, the head of a geographic division.

From the pride of Brazil to most hated company
Brazil's dam disaster: Looking for bodies, looking for answers
A German consultancy firm, Tüv Süd, carried out an audit of the Feijão dam last September which found the dam met legal requirements.

But an internal report seen by the Reuters news agency said the Brazilian mining company knew the dam was at risk as it was told the site breached guidelines months before it collapsed on 25 January.

Vale said the report was misleading as there was no evidence of imminent risk.

However, the Vale chief had little choice but to resign after federal prosecutors recommended that he and three other senior executives be temporarily removed.

Mr Schvartsman defended his handling of the accident as "absolutely appropriate", but admitted that his presence had become an "inconvenience" for the company.

It is still not known what caused the collapse at Brumadinho, but experts believe liquefaction was to blame.

Liquefaction is a process whereby a solid material such as sand loses strength and behaves more like a liquid.

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Mongolia introduces potential IPO at PDAC www.zgm.mn

Mongolia is participating in PDAC 2019, the World’s premiere mineral exploration & mining convention, led by Minister of Mining and Heavy Industry Sumiyabazar Dolgorsuren. PDAC 2019 is facilitating 3500 investors from more than 135 nations, over a thousand products introducing companies and 25 thousand guests.

Environment, health & safety related conferences are the priority. PDAC’s efforts to improve industry performance are aimed at catalyzing change by supporting industry leadership, improving governance and activating markets.

However, the fact that exploration expenditure has increased 20 percent year on year while new venture has halved is the industry’s main concern. Also the President of PDAC, Glenn Mullan is warning the decline in investment will slow down development as well as growing deficiency in recently known mines when assets of present exploited mines exhaust.

Gold and copper are the main focus, with vulnerability of worldwide exchange and monetary condition enlarging gold is returning to cost. Bank of Mongolia was listed 6th in gold trading. In 2018 an ounce of gold costed USD 1100 to 1200, compared to expenses USD 1312 today. Therefore, investors are more interested in gold trading policy of Mongolia. However, subsidy which has been a major contributor to the Mongolian economy and mining sector ended in January 2019. Bank of Mongolia, relevant ministries and gold trading industry favors to sanction the law furthermore.

At the Convention “ERDENESTT” presented IPO on March 3, thus it is vital to pull in investors as they plan. Participation of foreign investors is another measure of the competitiveness of the Mongolian mining sector. Consultant of Minister of Mining and Heavy Industry reports we’re planning to negotiate on gold, copper, metallurgical coal and rare earth elements this year. Introduction of interests and policy of Mongolians on raw battery materials will be suggested to the international investors in addition.

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German automakers to invest €58 billion in electric & autonomous cars www.rt.com

German manufacturers will make a massive investment over the next three years in electric cars and automated driving, as well as trebling the number of electric models, the head of the country’s car industry association has said.
“We will invest over €40 billion ($45.5 billion) in electric mobility during the next three years, and another €18 billion ($20.5 billion) will be invested in digitization and connected and automated driving,” VDA President Bernhard Mattes said, as cited by Reuters on Saturday, several days before the Geneva Motor Show.

Germany, along with some other major EU economies, is set to have a much higher share of electric vehicles among its new registrations than the average rate across the bloc, he added.

Europe needs to boost electric mobility because without it, goals for the reduction of carbon dioxide emissions in the EU cannot be achieved by 2030, according to Mattes. For this purpose, the appropriate regulatory conditions must be met. Massive expansion of the charging infrastructure is also required, along with more offerings for e-vehicle buyers.

At the same time, Berlin expects a significant decline in domestic car production this year due to a slowing economy, trade risks linked to US tariffs, as well as the expansion of plants in the US, Mexico and China, the VDA chief warned. German plants are expected to produce 4.8 million passenger vehicles this year, which is around five percent fewer than in 2018.

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President delivers speech at Northeast Asia Regional Power System Interconnection www.montsame.mn

Ulaanbaatar/MONTSAME/ Today, March 1, President Khaltmaagiin Battulga delivered a speech at ‘Northeast Asia Regional Power System Interconnection’ stakeholders meeting in Ulaanbaatar city.

He said, “Defining the roadmap for the regional energy cooperation is an important step in creating an interconnected Northeast Asian power system. During the Eastern Economic Forum that took place in the Russian Federation in September 2018, I have proposed to establish an organization in Ulaanbaatar that has the purpose of intensifying and coordinating the Northeast Asian Super Grid project. This project will provide electricity to the Northeast Asian countries, and not only alleviate the peak-hour pressure off these countries, but provide solution to the optimal utilization of their resources.

I have seen from your researches that the economic relevance of this power super grid is extremely high. This regional power system interconnection offers the most innovative solution in terms of optimizing the electricity production resources, capacity, ultra-high-voltage transmission, and consumers. For example, Mongolia has the potential of producing electricity for 6 cents per kWh, which is three times cheaper than what some of the countries are paying in this region.

As a result of the discussions you are having today, electricity could reach its customers at a much reduced rate. This would have an enormous positive impact on the quality of life of the end consumers in our countries.

In the past, Russia, China, Japan, South Korea, Mongolia as well as the United Nations have all conducted numerous researches and held frequent conferences each on their own. Researchers have pointed out that the fact that this initiative is stalling is due to the low political trust between our countries in the Northeast Asia region.

Mongolia not only has a high level of political understanding with our neighboring and regional countries, but we do not have any dispute with any country at the international level. Mongolia has the necessary prerequisites to successfully implement this project.

With regard to the source of power, Mongolia has abundant resources and vast territory. Because we have more than 300 days of sunshine per year, Mongolia’s production of solar power, in conjunction with wind, coal-powered, and other types of electricity, could alleviate the peak-hour pressure in countries like Japan and South Korea that arise due to the time difference and seasonal factors. There could even be possibilities of Mongolia assuming the role of power storage for other nations.

As the usage of clean and renewable energy is a humane way of protecting our nature and earth, we are confident that citizens of all our nations will support this initiative. I also hope that the international financial institutions such as the Asian Development Bank will back this initiative through extending credit line and offering investment.”

 
 
 
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Spring Golden Eagle Festival opens in Mongolia to promote tourism www.xinhuanet.com

ULAN BATOR, March 3 (Xinhua) -- Mongolia's annual spring eagle festival kicked off near the capital city of Ulan Bator on Sunday, which is part of the country's efforts to attract tourists.

The event called "Spring Golden Eagle Festival" was co-organized by the Mongolian Ministry of Environment and Tourism, the Mongolian Eagle Hunter's Association and others with the aim of boosting tourism by promoting the tradition of hunting with eagles.

"The festival is part of our efforts to attract more domestic and foreign tourists. I am very happy that the number of domestic and foreign tourists visiting the festival has been increasing year after year," Tsegmid Tsengel, state secretary at the Mongolian Ministry of Environment and Tourism, said at the opening ceremony of the festival.

A total of 20 eagle hunters aged 18-77 from Bayan-Ulgii Province are competing in the 12th edition of the two-day festival, to catch fake animals, such as foxes and hares, with specially trained golden eagles, showing off the skills of both the birds and their trainers.

Previously, the competition used live animals to test the eagles' skills, but at the request of animal rights activists, fake animals began to be used instead in recent years, according to the organizers.

Eagle hunters also will compete in calling their eagles at the top of the mountain, and the quickest to recognize its owner and sit on its owner's forearm will be declared the winner.

Hunting with eagles is a tradition on the Eurasian Steppe. Mongolia is said to be one of a few countries that keeps the thousand-year-old tradition alive.

The Golden Eagle Festival is held twice a year in spring and autumn in Mongolia. The autumn festival is held in Bayan-Ulgii Province.

 
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Foreign Minister meets Australian Ambassador www.montsame.mn

Ulaanbaatar/MONTSAME/ Minister of Foreign Affairs of Mongolia D. Tsogtbaatar received Australian Ambassador to Mongolia David Vosen on February 28.

Noting that Australia is one of most important third neighbors and largest investors of Mongolia, which consistently supports democracy and reforms in our country, Minister D. Tsogtbaatar expressed gratitude for the valuable contribution of Australian government for training Mongolian public servants.

During the meeting, the parties agreed on the possibility of expanding bilateral relations in all areas, especially the continuation of experience exchange in developing accountable mining and good governance.

Ambassador David Vosen expressed his commitment to pay more attention on increasing reciprocal high-level visits between two countries.

Besides the issues of bilateral relations, the parties also exchanged views on a wide range of issues of mutual interest, such as international and regional cooperation and diversifying economy and attracting investment.

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Power shortage in Inner Mongolia to have ‘limited impact’ on Chinese NPI production, market participants say www.fastmarkets.com

The city of Ulanqab in China’s autonomous region of Inner Mongolia is expected to experience a severe power shortage in April and May, market sources told Fastmarkets, citing an unconfirmed announcement issued by city authorities last week.

While no specific details surrounding what measures Ulanqab authorities will implement during the power shortage have been released, one measure that participants believe will be enforced is a restriction on power usage.

Yet despite Ulanqab being one of China’s major production hubs for ferro-alloys, market participants were largely of the opinion that any disruption to ferro-alloy output as a result of these potential power restrictions would be minimal.

Participants in China’s NPI market shared similar sentiments, saying that any affected output would be marginal on a national level and new NPI projects in the country would more than make up for any lost tonnages.

“Affected NPI output during the power shortage would be around 600-700 tonnes of contained nickel, equating to 1.6% of total Chinese NPI production on a monthly basis, given monthly Chinese NPI output is 39,000 tonnes of contained nickel,” a Shanghai-based analyst told Fastmarkets.

“China’s NPI production from Inner Mongolia only makes up around 10% of the nation’s total output, and the announcement mainly targets areas within Ulanqab in Inner Mongolia, so the affected proportion will be even less on a nationwide scale,” an NPI producer based in Inner Mongolia said.

“Inner Mongolia is a known ferro-alloys production hub and it’s common to see electricity restrictions targeting such industries when electricity usage is at a peak in certain regions,” the producer added.

Moreover, new NPI projects coming on stream in China during April and May are also expected to offset any shortfall in production resulting from the power restrictions in Ulanqab as well as alleviate the existing tightness that the country’s domestic market is experiencing.

Xinhai Technology, China’s largest NPI producer, last year announced the addition of eight rotary kiln-electric furnace (RKEF) lines with nameplate capacity for 120,000 tonnes per year of nickel contained in NPI. Two of these new lines are expected to start up during the second quarter of this year.

“Xinhai Technology’s third new RKEF line came on stream during the Chinese New Year holiday (February 4-10), but it hasn’t resolved the tightness in market – maybe in April or May when another two lines of theirs come into operation will the current tightness ease,” an NPI buyer source said.

“Xinhai’s fourth new line will produce around 630 tonnes of nickel contained in NPI per month, which will offset any affect output in Inner Mongolia [due to the power restrictions], while the fifth new RKEF line should ease the existing tightness in the market,” the analyst said.

Fastmarkets assessed the NPI spot price, China on delivery, at 1,030-1,050 yuan ($154-157) per nickel unit on Tuesday February 26, up by 80 yuan per nickel unit from 950-970 yuan per nickel unit two weeks ago amid tightened supply of the material.

Similarly, the price of laterite ore – NPI’s key raw material – also gained upward momentum following the gains in NPI prices.

Fastmarkets’ price assessment for nickel ore, basis 1.8%, cif China, rose by $2 per tonne over the past two weeks to $50-52 per tonne on February 26.

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