1 MONGOLIA URGES INDIAN COMPANIES TO EXPLORE INVESTMENT OPPORTUNITIES IN MINING AND OIL EXPLORATION WWW.CHEMINDIGEST.COM PUBLISHED:2025/10/16      2 US JUDGE SET TO APPROVE RIO TINTO'S $138.75 MILLION MONGOLIA MINE SETTLEMENT WWW.REUTERS.COM PUBLISHED:2025/10/16      3 AI ADDED TO 2026-2030 DEVELOPMENT PLAN WWW.UBPOST.MN PUBLISHED:2025/10/16      4 ANOTHER ‘SCAM’ CALLED NEW COOPERATIVE 2 WWW.UBPOST.MN PUBLISHED:2025/10/16      5 MONGOLIA JOINS INTERNATIONAL SOLAR ALLIANCE FRAMEWORK AGREEMENT WWW.MONTSAME.MN PUBLISHED:2025/10/16      6 EIB GLOBAL SIGNS MEMORANDUM OF UNDERSTANDING WITH MONGOLIA TO UNLOCK UP TO EUR 1 BILLION FOR CLEAN ENERGY TRANSITION WWW.MONTSAME.MN PUBLISHED:2025/10/15      7 URANIUM SUPPLIES, MEGA REFINERY, DEFENCE IN FOCUS AT INDIA-MONGOLIA MEETING WWW.HINDUSTANTIMES.COM PUBLISHED:2025/10/15      8 MONGOLIA SEES INCREASE IN NEWBORN LIVESTOCK SURVIVAL WWW.MONTSAME.MN PUBLISHED:2025/10/15      9 MONGOLIA AND EUROPEAN INVESTMENT BANK TO PEN COOPERATION AGREEMENT FOR 1 BILLION EUROS WWW.AKIPRESS.COM PUBLISHED:2025/10/15      10 2 DIE IN SUSPECTED CARBON MONOXIDE POISONING IN MONGOLIA'S CAPITAL WWW.XINHUANET.COM PUBLISHED:2025/10/15      УИХ-ЫН ДАРГА Д.АМАРБАЯСГАЛАНГИЙН ҮҮРЭГТ АЖЛААСАА ЧӨЛӨӨЛӨГДӨХ ХҮСЭЛТИЙГ ДЭМЖЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/10/16     800 АЙЛЫН "НОГООН ОРОН СУУЦ" ТӨСЛИЙН МЕТР.КВ-ЫН ҮНИЙГ БАТАЛЛАА WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/16     ДЦС-5 ТӨСЛИЙН ТҮНШЛЭЛИЙН ГЭРЭЭ БАЙГУУЛАХ ЭРХИЙГ НИТХ-ААР БАТЛУУЛЛАА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/16     "МОНГОЛ ШУУДАН" ХК TAOBAO ПЛАТФОРМООС ЗАХИАЛСАН БАРААГ АЛБАН ЁСООР ХҮРГЭЖ ЭХЭЛЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/16     ЕРӨНХИЙ БОЛОВСРОЛЫН ЦАХИМ СУРГУУЛЬ БАЙГУУЛЛАА WWW.GOGO.MN НИЙТЭЛСЭН:2025/10/16     “ШИНЭ ТОЙРОГ ЗАМ” ТӨСЛИЙН ЭХНИЙ ШАТ ХЭРЭГЖСЭНЭЭР ХОТЫН ТҮГЖРЭЛ 20 ХУВИАР БУУРНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/10/16     ХАГАС КОКСОН ШАХМАЛ ТҮЛШНИЙ БОРЛУУЛАЛТ ЭХЭЛСЭН Ч ХҮРЭЛЦЭЭ МУУ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/16     ТББХ: ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАРЫГ ОГЦРУУЛАХЫГ ДЭМЖСЭНГҮЙ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/10/16     БАГАХАНГАЙ-ХӨШИГИЙН ХӨНДИЙ ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫН ТӨСЛИЙН САНХҮҮЖИЛТИЙГ ШИЙДВЭРЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/15     "МАН-ЫН БҮЛГИЙН ДАРГААР Ж.БАТЖАРГАЛЫГ СОНГОЛОО" WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/15    

Category

Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2024 London UK MBCCI London UK Goodman LLC

NEWS

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Mongolia Urges Indian Companies to Explore Investment Opportunities in Mining and Oil Exploration www.chemindigest.com

Mongolia’s Deputy Prime Minister S. Amarsaikhan has urged Indian companies to tap into the country’s vast potential in mineral mining and oil exploration. Speaking at the India-Mongolia Business Forum held in New Delhi, he underlined a wide spectrum of investment prospects spanning railway development, animal husbandry processing (including wool, leather, and cashew value addition), manufacturing, tourism, healthcare, transport and logistics, banking and finance, ICT, and standards and measurements.
The Confederation of Indian Industry (CII), the Mongolian National Chamber of Commerce and Industry (MNCII), and the Embassy of Mongolia in India jointly organised the forum, reflecting the growing economic engagement between the two nations.
Opportunities in Oil and Energy Infrastructure
Highlighting Mongolia’s plans to strengthen its energy infrastructure, Amarsaikhan invited Indian oil companies to participate in exploration and production activities across the country’s oil fields. He noted that essential supporting infrastructure will be completed within the next two years, creating a favourable environment for investment and collaboration.
Strategic Location and Trade Advantages
The Deputy Prime Minister emphasized Mongolia’s strategic location between major markets such as China and Russia, along with its Free Trade Agreements (FTAs) with Japan and other nations, offering India an extended trade corridor and improved market access. These advantages, he noted, could significantly enhance the competitiveness of Indian exports through Mongolia.
India-Financed Refinery to Strengthen Energy Partnership
Amarsaikhan also highlighted the landmark $1.7 billion oil refinery project, Mongolia’s first and only refinery, financed by the Government of India. Once operational, the facility is expected to meet nearly 50% of Mongolia’s domestic demand for petroleum products. This will mark a milestone in bilateral energy cooperation and self-reliance.
Expanding Cooperation in Mining and Industrial Sectors
Atul Malhari Gotsurve, Ambassador of India to Mongolia, reiterated the immense potential for cooperation in the mining sector. He cited Mongolia’s abundant reserves of coking coal, gold, copper, and other critical minerals. He also noted that Mongolia’s special treaty with Russia provides tariff rebates of 50–60% on goods transported there. This opens up new export opportunities for Indian enterprises.
New Avenues in Automobiles and Pharmaceuticals
As reported by etenergyworld.com, both leaders identified the automobile and pharmaceutical sectors as emerging areas for collaboration. As reported by assamtribune.com, the two countries aim to strengthen trade ties and promote sustainable growth. By leveraging Mongolia’s resource base and India’s industrial expertise, they plan to build a long-term strategic economic partnership.

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US judge set to approve Rio Tinto's $138.75 million Mongolia mine settlement www.reuters.com

NEW YORK, Oct 15 (Reuters) - A U.S. judge on Wednesday said he was ready to approve Rio Tinto's (RIO.L), opens new tab, (RIO.AX), opens new tab agreement to pay $138.75 million to settle a lawsuit that accused the Anglo-Australian mining giant of defrauding investors by concealing problems with its $7 billion underground expansion of the Oyu Tolgoi copper and gold mine in Mongolia.
Rio Tinto had reached a preliminary settlement with shareholders of the former Montreal-based Turquoise Hill Resources in June, pending approval from Manhattan-based U.S. District Judge Lewis Liman.
Liman at a hearing on Wednesday said he was ready to approve the settlement, but did not sign off on it yet because he was waiting for the shareholders' lawyers to inform him of what they planned to do with any funds left after initial distributions.
Rio Tinto did not admit wrongdoing in agreeing to settle.
The lawsuit sought damages on behalf of Turquoise Hill shareholders between July 2018 and July 2019, when that company, then listed in Toronto, was majority-owned by Rio Tinto.
Shareholders were led by funds advised by Chicago-based Pentwater Capital Management.
Pentwater said in a September 10 court filing that the settlement amount represented between 34% and 43% of the damages it believed it could prove at trial, describing it as reasonable given the risk of continued litigation.
Turquoise Hill had been a single-asset company owning 66% of the Oyu Tolgoi mine, with Mongolia's government owning 34%.
Pentwater accused Rio Tinto and Turquoise Hill of fraudulently assuring that the Oyu Tolgoi mine was "on plan" and "on budget," even as it was falling up to 2-1/2 years behind schedule and running as much as $1.9 billion over budget.
Rio announced the possible $1.9 billion overrun in 2019, and projected total capital expenditures of $6.5 billion to $7.2 billion.
In 2022, Rio Tinto bought the 49% of Turquoise Hill it did not already own for $3.3 billion, fully integrating the mine into its copper portfolio.
Lawyers accused some of the world's biggest carmakers of manipulating diesel emissions tests.
Reporting by Luc Cohen, Clara Denina, Editing by Alexandra Hudson

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AI added to 2026-2030 development plan www.ubpost.mn

The Ministry of Economy and Development has completed drafting the Five-Year Development Strategy for 2026 through 2030, which is scheduled for discussion at the Cabinet meeting on October 15. The strategic planning document has been developed based on research and analysis, incorporating measurable goals, clear indicators, and result-oriented objectives. It also emphasizes inclusive participation, ensuring that input from all sectors of society is reflected.
The draft strategy underwent extensive public consultation, being discussed a total of 14 times with representatives from academic institutions, universities, central government agencies, professional associations, and private sector organizations. Feedback and proposals collected during these consultations were consolidated and harmonized into the final version of the document.
According to the Ministry of Economy and Development, the strategy outlines key priorities across human development, social progress, economic and infrastructure growth, environmental sustainability, good governance, digital transition, regional development, national competitiveness, and advances in science, technology and artificial intelligence. Within these areas, it defines specific national, sectoral, and program-level outcomes aimed at achieving balanced and sustainable progress over the five-year period.
Officials stated that the criteria of the strategy align with the United Nations Sustainable Development Goals and Mongolia’s international commitments. The Ministry noted that this alignment will not only help fulfill global obligations but also enhance the quality and coherence of Mongolia’s development planning. The government expects the new strategy to serve as a practical roadmap for advancing the country’s long-term “Vision-2050” objectives.

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Another ‘scam’ called New Cooperative 2 www.ubpost.mn

Controversy continues to surround the government’s ambitious New Cooperative Movement, a policy launched by the ruling Mongolian People’s Party (MPP) ahead of the 2024 parliamentary elections. Initially promoted as a lifeline for herders and rural cooperatives, the initiative is now drawing sharp criticism over poor loan repayments, questionable spending and alleged political motivations. 
The MPP pledged a massive 5 trillion MNT in soft loans to support herders and revitalize the cooperative sector. However, repayment rates have proven alarmingly low. According to government data, only 58 billion MNT have been repaid so far, barely a fraction of the 844.5 billion MNT allocated through the 2024 and 2025 state budgets. Despite these results, another 133.9 billion MNT has been included in next year’s budget, sparking public discontent and opposition outcry.
During a recent meeting of the Parliamentary Standing Committee, Democratic Party politician G.Ganbaatar, a member of the party’s National Policy Committee and Political Council, delivered a scathing critique of the program. “In last year’s election, the MPP suddenly invented the New Cooperative story to win the votes of herders. They allocated a total of 844.5 billion MNT, but repayment is minimal. Now they plan to add another 133.9 billion MNT. There is no monitoring, no transparency and huge sums are being wasted on interest payments and fuel for luxury vehicles,” he said. 
G.Ganbaatar accused government officials of misusing public funds, claiming that up to 5 billion MNT were spent on fuel and car rentals for senior officials’ countryside visits under the guise of the program. “This so-called cooperative initiative has completely undermined the true principles of cooperatives, which should be based on market forces and mutual benefit. This fraudulent decision will one day lead you before legal authorities, just like in the Coal Hearing,” he added. 
Public frustration has been mounting since the scheme’s inception. Many herders, originally promised accessible credit and market support, now complain that the funds never reached those in real need. Some cooperative members have even organized protests, calling the program a “vote-buying tactic” disguised as rural development. Economists and civil society groups have echoed these concerns, urging the government to conduct a transparent audit of the program. Analysts warn that without meaningful oversight, the“New Cooperative Movement risks not only becoming another drain on the state budget but also eroding trust in public institutions.
Then-Prime Minister L.Oyun-Erdene proudly announced the program through Government Resolution No. 166, adopted on April 26, 2024, as part of what he described as a broader national effort to protect herders from the economic impacts of drought and climate change. The announcement coincided with the urgent submission to Parliament of the Law on Reducing the Negative Impacts of Natural and Climate Change on Traditional Livestock Farming.
“In order to support herders who have been affected by drought and are in a difficult financial situation, the Government has decided to postpone the repayment of loans and loan interest for one year,” L.Oyun-Erdene declared at the time. “Herders themselves will bear six percent of the loan interest, and the state will cover the rest.” His remarks were widely publicized as part of a media campaign positioning the initiative as a compassionate, forward-looking reform. However, beneath the populist branding and the nostalgic invocation of the New Cooperative concept, originally rooted in Mongolia’s socialist past, critics say the movement quickly morphed into a vehicle for unchecked public spending. Behind the scenes, insiders and opposition members allege that the program effectively became a 5 trillion MNT loan distribution scheme, channeling funds indiscriminately under the banner of “Loans to Support Herders”.
Data from government reports indicate that 844.5 billion MNT were allocated through the 2024 and 2025 state budgets. Yet as of this year, only 58 billion MNT have been repaid, a repayment rate many economists have described as alarming. Despite these results, the 2026 draft state budget already includes another 133.9 billion MNT for the continuation of the initiative, now informally dubbed New Cooperative-2.
Next year’s budget to channel 134 billion MNT into the project
A total of 844.5 billion MNT in loans were provided to nearly 25,000 herders under the New Cooperative Movement. In 2024 and 2025 alone, 115.8 billion MNT from the portfolio of the Minister of Food, Agriculture and Light Industry was spent on interest subsidies. According to State Secretary of the Ministry T.Jambaltseren, next year’s budget will also include an interest subsidy of 109 billion MNT within the minister’s portfolio. This is because the 2026 state budget allocates 133.9 billion MNT for the implementation of the New Cooperative-2 movement, as well as 500 billion MNT in loans sourced through commercial banks.
However, this renewed funding has drawn criticism from opposition members. Parliamentarians J.Bayarmaa, the initiator of the bill on combating vote buying, voiced strong opposition during a recent parliamentary discussion. “There is a concept in politics called abuse of state power and resources. The New Cooperative Movement is a clear example of this. It is a cunning way for the ruling party to buy the votes of herders or voters with taxpayers’ money. This inappropriate use of the state budget, spent inefficiently and without control, must be stopped. Why is the government even increasing interest subsidies? Instead of harming the country like this, we should tell the herders the truth and make them understand: ‘You will simply pay off the loans you took, and we will not charge additional interest.’ But it is unacceptable to add another 134 billion MNT to the 2026 budget,” she said. 
The project, which has been implemented for more than a year and has already cost nearly 1 trillion MNT including interest subsidies, remains largely opaque. There is still no clear information on its actual benefitsь whether the loans were used for their intended purpose, how many of the 25,000 herders have started production, or whether they are processing livestock raw materials. It can only be concluded that the loan repayment rate has not even reached 10 percent.
Following last weekпs committee meeting, the issue turned into a political scandal. A parliamentary working group was established to analyze the implementation of the New Cooperative Movement and the use of the distributed loans. The group reportedly spent a significant amount of money conducting field studies during the spring and summer.
In August, the head of the working group, lawmaker M.Mandkhai presented preliminary findings. She reported, “A total of 10,000 new cooperatives have been established across the country, and about 100,000 herders have participated in the movement. Of these, more than 24,000 herders from about 7,700 cooperatives have received loans, and more than 70 percent of the loans were used to purchase breeding stock. However, since a detailed analysis of loan utilization has not been conducted, it is not yet possible to assess the actual results. Therefore, it is necessary to monitor loan use in the future and carry out a benefit-based evaluation,” she said. 
‘It is necessary to pay attention to the purpose of the loan granted’
Before the public could even notice, imagine, or calculate, five trillion MNT had begun flowing into the financial machine known as the New Cooperative Movement. The Government continues to include and finance payments exceeding the annual interest rate of six percentage points in its yearly budget. While the spending and benefits of the previous loans remain unclear, the New Cooperative-2 initiative has already been approved for inclusion in next year’s state budget. raising growing concerns that the same mistakes seen in past special loan funds will be repeated.
Successive governments have previously issued low-interest loans at six percent annually through the Small and Medium Enterprises Development Fund and the Agricultural Entrepreneurship Support Fund. Yet, history offers many examples of politically connected individuals or those with inside information obtaining such loans and misusing them for purposes far removed from production. These schemes often resulted in no industrial growth, bankruptcies and lengthy police and court proceedings against those responsible.
Even during the COVID-19 pandemic, the Government failed to release clear information about the outcomes of the “10-Trillion MNT Comprehensive Program”, leaving the public uncertain about how those vast sums were spent. Documents later revealed that the New Cooperative Movement had spent hundreds of millions of MNT merely on press advertising during the election period. Meanwhile, questions remain unanswered: if loans alone are the solution, will cooperatives truly develop? Or will the livestock sector’s growth and future once again be put at risk?
It is only natural that many questions arise: What is the income growth rate of the cooperatives that received funding? Did they create new local jobs? Do they have the ability to sustain themselves independently in the market? Reports have surfaced of three to five households forming a cooperative, securing loans of around 50 million MNT, and, lacking both capital and a clear business plan, simply purchasing cars instead of investing in production.
When the program began, the State Bank issued a clear warning, “Herders must develop their own business plans. Doing business based on someone else’s project is both pointless and risky. It is essential to ensure that loans are used for their intended purpose and that repayments are made responsibly. The Loan Guarantee Fund has provided guarantees covering up to 80 to 100 percent of cooperative loans. However, herders themselves must determine how to grow that money and by how many times.” Unfortunately, few people appear to have heeded that advice.
As MP J.Bayarmaa noted, herders should now be told the truth and made to understand that “We are not providing loans to be turned into cars, but to help you grow your 100,000 MNT into 200,000 MNT, and these loans must be repaid.” Otherwise, she warned, herders may one day be left with nothing but regret, saying, “We have no cattle, no factories, and if you don’t take my two ears, there’s nothing else to give.” She added, “This kind of misplaced love and affection, buying the votes of herders with taxpayers’ money, must never happen again.” 
Meanwhile, the Deputy Prime Minister’s Office has instructed officials to “determine the number of newly established cooperatives through detailed research, plan the scale and location of implementation on a regional basis, accurately calculate funding sources and total budgets, set the maximum and minimum loan amounts, conditions, and requirements, and design activities to be implemented at the provincial and soum levels according to local characteristics.” The directive also calls for coordination with regional development policies and for improving access to information on land allocation for citizens and cooperative members.
Yet, questions remain about whether such monitoring and planning can truly fix a flawed foundation. If the results of the loans issued under the New Cooperative Movement remain unknown, if their benefits cannot be measured or verified, then perhaps the more responsible course would be to reduce funding and redirect those resources toward solving the country’s more urgent and tangible problems.

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Mongolia Joins International Solar Alliance Framework Agreement www.montsame.mn

The Government of Mongolia has ratified its accession to the Framework Agreement on the establishment of the International Solar Alliance (ISA) and designated the Ministry of Energy as the national focal agency representing the Government.
The ISA, established in 2015 and headquartered in the Republic of India, is a non-governmental organization that supports collaboration among solar resource-rich countries to address common challenges, mobilize financing for joint projects and programs, and promote the use of solar energy. The ISA operates in complementarity with the International Renewable Energy Agency (IRENA), focusing specifically on solar energy cooperation.
By joining the Alliance, Mongolia aims to strengthen regional cooperation in renewable energy, promote the utilization and production of solar energy, introduce environmentally friendly technologies, and contribute to reducing greenhouse gas emissions, according to the Media and Public Relations Department of the Government of Mongolia.

 

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EIB Global Signs Memorandum of Understanding with Mongolia to Unlock Up To EUR 1 billion for Clean Energy Transition www.montsame.mn

The European Investment Bank’s development arm, EIB Global, has signed a Memorandum of Understanding with the Government of Mongolia that could unlock up to EUR 1 billion in investment for renewable energy, modern power networks, sustainable transport, and other projects driving the country’s green transition. The partnership, which has the full support of the European Commission, creates a pathway for significant new investment in clean, affordable, and secure energy for people and businesses.
The agreement, signed today at the first Mongolia-EU Business and Investment Forum in Ulaanbaatar, sets the stage for closer cooperation between Mongolia and EIB Global under the EU Global Gateway strategy and Mongolia’s Vision 2050. It places a particular focus on diversifying Mongolia’s energy mix and ensuring clean, affordable, and secure energy, while also creating opportunities for cooperation in other Global Gateway priority areas, including digital, transport, health, education, and research.
EIB Vice-President Teresa Czerwińska, who oversees the Bank’s operations in Mongolia, said: “Mongolia has vast potential for renewable energy, from wind and solar to infrastructure designed for sustainability and climate resilience. By partnering under the Global Gateway framework, we can help accelerate the country’s green transition, strengthen energy security, and create opportunities for communities and businesses.”
Ambassador of the European Union to Mongolia Ina Marčiulionyte added: “This Memorandum of Understanding deepens the strategic partnership between the European Union and Mongolia while delivering real benefits for people and communities. By combining European expertise with Mongolia’s renewable potential, we are advancing innovation, energy security, and sustainable growth that create quality jobs, build essential skills, will strengthen the country’s future and its role in the region.”
Deputy Prime Minister of Mongolia Dorjkhand Togmid concluded: “Diversifying our energy mix and ensuring secure and affordable power for households and firms is a national priority. The partnership with EIB Global and the European Union – unlocking up to EUR 1 billion – will help Mongolia harness its renewable potential, support private sector development, modernise our power systems, and create jobs in the green economy. This cooperation is a milestone in our journey towards a sustainable and resilient future, and a key step in Mongolia’s clean energy transition.”
Under the Memorandum of Understanding, EIB Global will work with Mongolian authorities and partners to identify and prepare eligible projects in priority areas, with a particular focus on clean energy and private sector development, while also supporting collaboration across other Global Gateway and Vision Mongolia 2025 sectors. Final investment volumes will depend on the pipeline of projects developed jointly with Mongolian stakeholders, with support from the European Union. The reference to up to EUR 1 billion in investment is indicative and does not constitute a binding financial commitment.

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Uranium supplies, mega refinery, defence in focus at India-Mongolia meeting www.hindustantimes.com

The sourcing of uranium, a $1.7-billion oil refinery and steps to bolster defence cooperation figured in talks on Tuesday between Mongolian President Khurelsukh Ukhnaa and Prime Minister Narendra Modi, who gave an assurance that India will be a “strong and reliable partner” for Mongolia’s development.
Khurelsukh arrived in New Delhi on Monday for the first visit by a Mongolian president in six years, with the focus on strengthening bilateral ties in a range of areas. Ten agreements to bolster cooperation in key sectors such as digital solutions, exploration of mineral resources and quick impact projects were finalised during the meeting between the leaders.
India and Mongolia upgraded their ties to a strategic partnership during a visit a decade ago by Modi, who said bilateral defence and security cooperation has steadily grown. “We stand as close partners…supporting a free, open, inclusive and rules-based Indo-Pacific. Together, we work to amplify the voice of the Global South,” he told a joint media interaction, speaking in Hindi.
“Even though we do not share a border, India has always considered Mongolia a close neighbour,” Modi said. “India has been a strong and reliable partner in Mongolia’s development.”
Khurelsukh emphasised the importance of exploring new transport and logistics gateways to enhance trade and economic cooperation.
The Indian side expressed interest in sourcing uranium and other minerals, including copper, gold and zinc, from Mongolia, officials said. Mongolia has up to 90,000 tonnes of uranium reserves and finalised an agreement with France in January for extracting 2,500 tonnes a year.
“We have offered our interest in partnering with Mongolia for uranium. We will be taking up the dialogue in the coming months,” P Kumaran, secretary (East) in the external affairs ministry, told a media briefing.
Both Modi and Khurelsukh highlighted the importance of Mongol Refinery, the country’s first refinery being built with a $1.7-billion Indian line of credit that is expected to begin operations in 2028. It will have the capacity to process 1.5 million tonnes of crude oil a year, or 30,000 barrels a day.
Noting that the refinery will strengthen Mongolia’s energy security, Modi said: “It is India’s largest development partnership project globally, with over 2,500 Indian professionals working alongside their Mongolian counterparts to make it a reality.”
Khurelsukh described the project as a “flagship symbol of cooperation” that is of strategic importance for ensuring Mongolia’s economic security.
Kumaran said India is keen to complete the refinery by 2028 because of the importance attached by Mongolia to making use of its own crude oil resources, instead of exporting them, and becoming “as energy independent as possible”. He said: “It is coming up very well, almost all the civil work is over. The refinery equipment is being manufactured in India and will be shipped to Mongolia.”
The two sides also unveiled a range of steps to bolster defence and security cooperation, including the posting of a resident Indian defence attaché in Ulaanbaatar and expansion of training programmes and military exercises. Khurelsukh also met defence minister Rajnath Singh to discuss ways to enhance security cooperation.
“We have launched several new initiatives, from training programmes to the appointment of a defense attaché at the embassy. India will also launch a new capacity building programme for Mongolia’s border security forces,” Modi said.
India currently sends military trainers to Mongolia to train the country’s officers, and the two sides participate in joint exercises such as Nomadic Elephant and Khaan Quest. The Mongolian side is also interested in working with India on the use of drones, Kumaran said.
“They see a lot of benefit in training with us. They would like us to continue with existing programmes and also offer more support in terms of training,” Kuamran said, noting that India has set up a cyber-security training centre for Mongolia’s armed forces. “We also provide some kinds of equipment as part of our grant assistance to Mongolia and we propose to continue that,” he said.
The two sides finalised 10 memorandums of understanding (MoUs) covering immigration cooperation, digital solutions, humanitarian aid, geology and mineral resources, quick impact projects, cultural exchanges, promotion of cooperatives, and renovation of the Bogd Khan winter palace. One agreement will facilitate cooperation between India’s Ladakh region and Mongolia’s Arkhangai province.
The Indian side also announced it will send relics of two disciples of Lord Buddha to Mongolia in 2026 in keeping with the Buddhist heritage of the two countries, and provide free e-visas for Mongolian nationals. Khurelsukh announced that a Mongolian carrier plans to launch charter flights to New Delhi and Amritsar this year to boost tourism.

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Mongolia Sees Increase in Newborn Livestock Survival www.montsame.mn

 Of the 26.7 million breeding livestock counted nationwide at the end of 2024, a total of 21.4 million gave birth during the first nine months of 2025. To date, 21.1 million offspring, or 98.4 percent of the newborn livestock, have been raised.
By breeding animal type, 83.4 percent of ewes, 80.2 percent of does, 47.1 percent of female camels, 72.1 percent of cows, and 69.7 percent of mares calved or foaled.
Currently, herders across the country are raising 9.8 million lambs, 8.5 million kids, 1.5 million calves, 1.2 million foals, and 86.8 thousand camel calves. The number of surviving young livestock has increased by 5.6 million compared to the same period in 2024.

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Mongolia and European Investment Bank to pen cooperation agreement for 1 billion euros www.akipress.com

State Secretary of the Ministry of Finance of Mongolia Ganbat Jigjid met with Vice-President of the European Investment Bank (EIB) Tereza Czerwińska, who is visiting Mongolia to discuss ongoing cooperation and future partnership opportunities, Montsame reported.
The sides underlined that expanding bilateral cooperation would make a significant contribution to Mongolia's sustainable development, infrastructure advancement, and green transition.
The government of Mongolia, the European Union, and the EIB will sign a Memorandum of Understanding on Cooperation to secure 1 billion euros in financing. The cooperation will focus on priority sectors, including digital transformation, climate and energy, transportation, healthcare, and education, and will support Mongolia's green and sustainable growth, according to the Ministry of Economy and Development.
The MoU will be signed by EIB Vice-President Tereza Czerwińska and Deputy Prime Minister of Mongolia Dorjkhand Togmid during the Mongolia–EU Business and Investment Forum in Ulaanbaatar on October 15.
Mongolia has been cooperating with the EIB since 2014 and has received a total of 144 million euros in loans and grant financing. Projects being implemented under this partnership include the Aimag and Soum Regional Green Development Investment Program, which promotes climate-resilient, low-carbon development, and the Ulaanbaatar Ger Area Development Program, which supports polycentric urban planning and infrastructure improvement in ger districts.

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2 die in suspected carbon monoxide poisoning in Mongolia's capital www.xinhuanet.com

Two people have died from suspected carbon monoxide poisoning in Mongolia's capital Ulan Bator since the beginning of October, the country's National Center for Public Health reported Tuesday.
The victims were found in a house and a traditional round-shaped dwelling, known as a ger, in slums on the outskirts of Ulan Bator. Both were believed to have died while sleeping during the nighttime, the center said in a statement.
A preliminary investigation suggested the deaths may have been caused by smoke leaking from stove chimneys.
Mongolia is the world's most sparsely populated country. However, housing is one of the most pressing issues in Mongolia, especially in the capital city, home to over half of the country's population of 3.5 million.
More than half of Ulan Bator's residents live in the city's ger districts, with no running water, central heating, or sewerage systems.

 

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