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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‘E-Police’ traffic penalty app to be launched www.montsame.mn

Ulaanbaatar /MONTSAME/ Starting from October 1, traffic violation fines will be charged with the information from citizens. People will be able to report traffic violations to relevant officials via ‘E Police’ app.

The app developed by Ulaanbaatar city Traffic Control Center and Transport Police Department is aimed at reducing traffic violations, increasing citizens’ participation and hazard prevention.

With the app it will be possible to report violation with three simple steps on mobile phone and smart devices. The relevant officials will verify it and reply with an image how the violation was resolved, giving the citizens opportunity to monitor the resolution process.

There are no chances to send edited photo as the app has no ‘upload’ option. Additionally, it will be examined whether the photo meets the requirements of evidence, whether the vehicle registration code, model, location and time match and the fine will be imposed with irrefutable evidence.

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Freeport, Rio formally yield control of giant Grasberg mine to Indonesia www.mining.com

Freeport McMoRan (NYSE:FCX) and Rio Tinto (LON:RIO) signed Thursday final agreements that give Indonesia a majority stake in their Grasberg copper mine, the world's second-largest, and which would be transferred to the state-owned mining company PT Indonesia Asahan Aluminium (Inalum).

The "definitive" and "binding" agreements end a long-drawn-out, three-way dispute over the mine, centred on bringing Indonesian ownership up to 51%, a main requisite set by the government to allow Freeport-McMoRan, operator of Grasberg, to keep doing so.

It could also bring closure to years of disagreements between the Phoenix, Arizona-based copper miner and the country’s government, which last year curbed output at the mine, impacting metals prices worldwide.

Agreements end a long-drawn-out, three-way dispute over the mine, which has been centred on bringing Indonesia's ownership of Grasberg up to 51%.
The transfer of majority shares to Inalum will happen once the miner makes a payment of $3.9 billion to Freeport and Rio Tinto, Energy and Mineral Resources Minister Ignasius Jonan said in a statement.

As announced earlier this year, once Inalum becomes Grasberg's majority stakeholder, the government will issue a special mining license extension to Freeport allowing ore extraction until 2041.

The permit, known as an IUPK, is the “government’s commitment to maintaining the investment climate so as to provide certainty and security to foreign investors to invest in Indonesia,” minister Jonan noted.

The authority added that Freeport’s local unit will have to build a copper smelter with a capacity of 2 to 2.6 million tons per year, which should be completed in less than 5 years.

PT Freeport Indonesia is already drafting a roadmap to manage all environment-related issues surrounding the facility, Minister for Environment and Forest Siti Nurbaya said in the statement.

Government's victory
Today's deal is considered a victory for President Joko Widodo, who faces re-election in 2019 and who has insisted that mining companies must divest majority stakes in order to continue operating in the country.

Grasberg, the world’s second-largest copper mine and fourth largest gold operation, is transitioning to an underground operation, set to reach full capacity by 2022, when it will produce 160,000 tonnes per day of ore.

The additional Deep Mill Level Zone block cave mine, currently under construction, is projected to contribute an additional 80,000 tonnes per day of ore once at full capacity, expected in 2021.

Currently, Grasberg’s reserves are estimated to be worth about $14 billion. Lasst year it accounted for 47% of Freeport’s operating income, according Bloomberg Intelligence.

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Google grilled over 'Project Dragonfly' at Senate hearing on data privacy www.cnn.com

Google has finally admitted that a "Project Dragonfly" is indeed in the works.
But that's about all a Google executive was willing to divulge Wednesday about the codenamed plan, which has been widely reported to be a search product the company is developing for China — one that would need to comply with government censorship.

The rumored existence of the Chinese search engine came up repeatedly during a Senate committee hearing in Washington, where several major technology and telecommunications executives were testifying about a potential federal law to regulate data privacy.

The prospect of a Google-sanctioned search engine for China has become a hot-button issue. Reports began surfacing last month that Google was working on a product that would block sensitive websites and search terms in accordance with Chinese censorship.

The New York Times later reported that more than a thousand Google employees have questioned the plan. That criticism is ongoing — The Times reported early Wednesday that a former Google research scientist blasted the Chinese search product in a letter to lawmakers this week.

However, Google had refused to comment until Wednseday, when Google (GOOG) chief privacy officer Keith Enright joined executives from AT&T (T), Amazon (AMZN), Apple (AAPL), Twitter (TWTR) and Charter Communications (CHTR) at the Senate hearing (AT&T owns CNN.). The point of the hearing was for the executives to outline what they want out of any new US regulatory proposal — they largely opposed any law as restrictive as the recent data privacy reforms adopted or passed by the European Union and California.

But lawmakers fixated on Enright. They lobbed questions at him about all kinds of controversies facing Google and the rest of the tech industry, privacy-related or otherwise.

Enright did not link "Dragonfly" to the reports about developing a Chinese search engine. He name-dropped it only when pressed about the existence of a "Project Dragonfly" by Senator Ted Cruz, a Texas Republican.

"I am not clear on the contours of what is in scope or out of scope for that project," Enright added.

When Cruz prodded Enright for more information, the privacy officer would only reiterate what CEO Sundar Pichai has already said about the rumored product.

"I need to be clear for the record that my understanding is that we are not close to launching a search product in China," Enright said. "And whether we eventually could or would remains unclear."

Though Google received a lot of the attention at Wednesday's hearing, the other companies did not entirely escape scrutiny. Lawmakers peppered the executives with questions about how they use consumer data, and how they define what is private and what is not.

The concept of a federal law that governs data privacy has become increasingly important to lawmakers, especially in recent months.

The European Union made waves earlier this year when its General Data Protection Regulation went into effect. Those rules forced companies that operate in that region to revise their data privacy policies.

Then in June, California passed the toughest data privacy law in the US. When that law goes into effect in 2020, it will grant consumers the right to know what companies like Facebook and Google are collecting from them, why those companies are collecting it and who they are sharing it with. Consumers will also be able to bar tech companies from selling their data.

AT&T's Len Cali, the senior vice president of global public policy, cited a "host of burdens" associated with the GDPR during his testimony Wednesday.

"Perhaps if it existed at the the companies at this table started, we wouldn't be here, none of them would be here," he said.

Other executives argued along similar lines, adding that whatever law is passed should not be so cumbersome as to hurt innovation, especially at small and medium-sized companies. Many also wanted a law that pre-empts state statutes, like the one California just passed.

Consumer advocacy groups have opposed the industry's objections to GDPR and the California law. In a letter to the Senate committee that conducted the hearing, the American Civil Liberties Union called for legislation that would install safeguards for consumers.

"In the last year, we have seen countless data breaches, sharing of sensitive data without consent, and reports that companies have misled consumers regarding their data practices," the ACLU wrote. "It is past time for Congress to right the imbalance in our laws that has failed to protect consumers from industry practices that strip them over control of their data in the interest of profit."

Senator John Thune, the chairman of the commerce, science and transportation committee and a South Dakota Republican, said Wednesday that lawmakers intend to hold a second hearing next month. He added that a California privacy activist and the head of GDPR enforcement have already agreed to testify.

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Bank of Mongolia to keep inflation rate stable and increase foreign exchange reserves www.montsame.mn

Ulaanbaatar /MONTSAME/ Governor of the Bank of Mongolia N.Bayartsaikhan presented the parliamentary resolution draft of the Monetary Policy Guidelines for 2019 to the Speaker of the Parliament.

The monetary policy is aimed to reinforce the economic recovery. “To do this, there will be more priority placed on IT and introducing good expertise as well as boosting the development of the financial market,” said Governor of the Bank of Mongolia N.Bayartsaikhan.

“For the past two years, the foreign market has stabilized and the investment in the mining sector has increased. Furthermore, the budget and monetary policy for stabilizing the economy has been successfully implemented as well as the investors’ trust has been restored and the business environment is gradually improving. It can be seen from how the economy growth reached 6.3 percent and employment rates have increased by 3.1 percent in the first half of this year. In the future, to sustain the economic growth and its positive results, policies to stabilize inflation, to increase foreign exchange reserves and improving the risk bearing capacity of banking system must be continued. To increase foreign currency inflow, it is important to realize a comprehensive economic policy that improves the ability of domestically produced goods and products to compete in the market and create an attractive legislative environment for direct investments. For this reason, we reflected in the draft that the Mongolbank would collaborate with other governmental organizations to increase foreign exchange reserves.”

Governor N.Bayartsaikhan also talked on new laws in banking sector planned to be submitted. For instance, the bill on protection of the rights and interests of consumers of financial services has been developed. “It will be a great push in making the banking sector meet the international standards and principles as well as protecting the rights and interests of consumers of financial services. “Furthermore, a macro policy will be run to prevent the risks of losing the sustainability of the financial system. Recently, two major decisions have been made regarding this issue. The Monetary Policy Council made a decision that the time period of a consumption loan should not exceed 30 months, which will be in effect from January 1, 2019,” he said.

A.Munkhzul

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Mongolia to produce 300 thousand tonnes of processed fuel www.news.mn

The Mongolian government has decided to ban the burning of low-grade coal in the capital city of Ulaanbaatar from 1 April, 2019 in order to decrease air-pollution. Ulaanbaatar is one of the world’s most polluted cities and also one of the coldest, where the poorest residents are forced to burn wood, cheap coal and sometimes even rubbish as temperatures plunge below minus 40 Celsius (minus 40 Fahrenheit) in winter.

Ulaanbaatar has previously focused on rehousing the ger district residents into apartments with access to the heating grid. The government now plans to connect existing homes to city utilities and provide alternative heating methods such as establishing coal processing plant, supporting heater and gas. These actions are expected to decrease air pollution in Ulaanbaatar by 50 percent.

A total of 214,000 homes in ger districts burn annually over a million tonnes of coal. Mongolia is planning to produce 300 thousand tonnes of processed fuel this year; each 100 thousand tonnes from Thermal Power Plant-II, the Mega Power Plant in Tolgot and the Power Plant in the Eastern District.

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Foreign Ministers of Mongolia and UK meet in New York www.news.mn

Foreign Minister D.Tsogtbaatar held meet with UK Minister of State for Asia and the Pacific of the Foreign Affairs and Commonwealth Office Mark Field on the sidelines of the 73rd session of the UN General Assembly on 25 September.

During the meeting, the sides highlighted the importance of expanding economic and business cooperation, noting the wide cooperation potential in sectors of trade, investment, stock market, agriculture, infrastructure, mining, environment, education, communication and tourism. Furthermore, some issues of international and regional cooperation, cooperation opportunities and measures to be taken in regard with them were discussed.

The UK appointed a Trade Envoy to Mongolia in January, 2018 and it contributes to the expansion of economic cooperation.

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Mongolian engineers create electric mini truck www.montsame.mn

Ulaanbaatar /MONTSAME/ Mongolian engineers created a small electric truck that runs 100 km once it’s fully charged and doesn’t consume electricity in no-motion state. Currently, the cars are being tested.

Compared with porter, which consumes MNT 20,000 fuel per 100 km, one full charge of the electric car costs only MNT 1000.

Founder of the ‘Econ motor’ company B.Nyamdemberel noted that the car is efficient and suitable for sales and distribution companies, as well as for individuals, as the cost of 1000 kg freight transport in 100 km distance is MNT 1000 electricity bill. He also emphasized the silent and no gas emission truck is eco-friendly.

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ADB raises Mongolia's 2018 economic growth forecast to 6.4 pct www.xinhuanet.com

ULAN BATOR, Sept. 26 (Xinhua) -- The Asian Development Bank (ADB) on Wednesday upgraded Mongolia's economic growth to 6.4 percent this year from the previous forecast of 3.8 percent.

It also upgraded Mongolia's growth in 2019 to 6.1 percent from 4.3 percent, according to an update of ADB's flagship annual economic report, Asian Development Outlook 2018.

Mining investment will continue but a slowdown in the growth of mining investment, however, is expected to temper growth of Mongolia's gross domestic product (GDP) in 2019, it said.

"Mongolia's economy has performed better than expected in 2018. This upward revision is based on better performance of coal exports and stronger-than-expected private consumption," Yolanda Fernandez Lommen, ADB country director for Mongolia, said at a press conference.

"Mongolia's economy posted strong growth in the first half of this year at 6.3 percent, continuing the strong economic performance of 2017. Private consumption has been higher than anticipated due to a surge in credit to households," she said.

"Also, external demand for Mongolian coal has boosted economic performance and increased revenues, while investment into the mining sector continues to play a key role," she added.

According to the ADB, investment remained the main source of Mongolia's economic growth in the first half of 2018, contributing 12.6 percentage points to its GDP.

ADB, based in the Philippine capital Manila, is dedicated to reducing poverty in Asia through inclusive and environmentally sustainable economic growth, and regional integration.

Established in 1966, ADB has 67 members, including 48 from within the Asia-Pacific region. In 2017, the bank's operations totaled 32.2 billion U.S. dollars.

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Mongolia: IndustriALL and Rio Tinto conduct joint mission at Oyu Tolgoi mine www.industriall-union.org

Global social dialogue between IndustriALL Global Union and Rio Tinto took a significant step forward when both parties undertook a joint mission to Rio Tinto’s massive Oyu Tolgoi copper and gold operations and underground expansion in the remote South Gobi desert of Mongolia.

The joint mission took place from the 17th - 22nd September 2018. Michael Gavin, Rio Tinto’s group head of employee relations, and Glen Mpufane, IndustriALL’s mining director, led their respective delegations. The IndustriALL delegation included regional staff, representatives of local unions, and journalists from Dagens Arbete, the magazine of Swedish affiliate IF Metal.

A major objective of the mission was to evaluate Rio Tinto’s environmental, social and governance strategies. The operation has not been without controversy. During the mission, consultation was held with the herder community and their elders, the local community, the governor of Khanbogd sum, permanent and contractor employees, and NGOs critical of the operation.

Mongolia is richly endowed in natural resources and is heavily dependent on mining for its economic prospects. Oyu Tolgoi is the jewel in Rio Tinto’s crown, providing the company with an opportunity to demonstrate its commitment to responsible mining. Rio Tinto took the opportunity provided by the results of the Responsible Mining Index (RMI) to invite IndustriALL to Oyu Tolgoi.

IndustriALL participates in the RMI, which defines responsible mining as “…mining that demonstrably respects the interests of people and the environment, and contributes discernibly and fairly to broad economic development of the producing country.” Rio Tinto achieved one of the ten strongest results in four different areas: economic development, business conduct, working conditions and environmental responsibility.

IndustriALL held a workshop with Mongolian affiliate, the Federation of Energy, Geology and Mining Workers' Unions, for the leadership and over 40 representative shop stewards.

There are 16,117 workers at Oyu Tolgoi, split between a permanent Mongolian workforce of about 3,000 and a largely Mongolian and expatriate contractor workforce, involved in the underground expansion project. A major skills transfer from expatriates to Mongolians is a defining feature of skills development and training.

A large percentage of the Mongolian contracted workforce is set to be made permanent when the underground production comes on line. Evidence of the skills transfer is the large percentage of women operating massive hauling trucks at the open pit mine, and Mongolians holding critical senior management positions.

Glen Mpufane observed:

“The social license to operate is not a given, but must be earned, through transparency and trust in dialogue. Responsible mining is the pathway to obtaining that license”.

The conversation with Rio Tinto over its sustainability performance continues to include other global operations, for example QMM in Madagascar, RBM in South Africa, and the Rössing Uranium mine in Namibia.

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SHIFTING TOWARDS FUTURE EXCELLENCE - 2018 www.mongolianbusinessdatabase.com

Shifting Towards Future Excellence - 2018 is a two-day project management professional development event, organized and hosted by PMI Mongolia Chapter on October 26-27 at Best Western Premier Tuushin Hotel. 
LEARN, NETWORK, BE GLOBAL

PURPOSE

Two-day conference will highlight PMI Mongolia Chapter's 5th year anniversary along with past achievements and engagement to Mongolian project management professionals and organizations. Within the perimeters of the framework two-day conference will cover Project Change Management, Agile Processes, BA for Effectiveness, Value Creations and Digital Transformation. Our main purpose is to distribute international standard knowledge of project, program, and portfolio management systematically in Mongolia. International Conference will introduce best practices of project management, new techniques, tools and trends.

WHO ARE WE?

Project management institute reaches across 2.9 million professionals in 200 countries. As a global thought leader and knowledge resource,PMI advances the profession of project management by developing global standards and credentials, creating collaborative communities, and conducting and publishing academic research.

WHO SHOULD ATTEND?
● Project, Program, Portfolio Managers
● Business Analysts, Investors
● Those wanting to learn more about Project Management
● Those interested in the latest tools and techniques

CONTENT AND SUB-MEETINGS

Content: Management of Changing, Digital Turn, Increasing the Benefit of Business, Increasing the result of Project, and agile method
Sub-Meetings:
October 26th, Friday. The opening of the conference, starts with the honored speech and the award of The Best Project and The Best Project Managers will be handed over.
The main speech of the conference will be in 3 topics: 1) Infrastructure and Mining 2) Banking and Technology 3) The State and Public Field. The each speech will last for 30 minutes and go on with questions, answers and panelists.
October 27th, Saturday. On this day, we will be holding workshops and interactive sessions including practice works in the frame of Project Management Talent Triangle which is maintained by PMI international organization, there will be 3 sub-seminars: 1) Leadership skill & strategy 2) The skill of technique of project management 3) Project management international trends

THE SPECIFIC OF THE CONFERENCE

● 4 Dynamic Key Note Speakers (including PMI Global key personnel) 
● 27 honored guest speaker case presentations 
● 8 workshops and interactive sessions
● PMPs can earn 16 PDUs toward their certification
● Networking opportunity with over 400 project managers
● Meet with PMI’s top Directors and Managers from Hong-Kong, Singapore, South Korea, Japan and Taiwan, China 
● Continental lunch and refreshments at breaks are included

Organizing committee
| |marketing@pmimongolia.mn
www.pmi.org | www.pmimongolia.mn
www.facebook.com/pmimongoliachapter
www.twitter.com/pmimongolia

REGISTRATION 
1. Participant - 200,000MNT
2. Member - 150,000MNT
3. Group ticket (5+) - 180,000MNT
4. Early bird - 150,000MNT
5. Student ticket - 160,000MNT
6. Proud partner ticket - 160,000MNT

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