1 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      2 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      3 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      4 THE UNITED NATIONS CHILDREN’S FUND (UNICEF) IN MONGOLIA, THE NATIONAL FOUNDATION FOR SUPPORTING THE BILLION TREES MOVEMENT, AND CREDITECH STM NBFI LLC HAVE JOINTLY LAUNCHED THE “ONE CHILD – ONE TREE” INITIATIVE WWW.BILLIONTREE.MN PUBLISHED:2025/06/13      5 NEW MONGOLIAN PM TAKES OFFICE AFTER CORRUPTION PROTESTS WWW.AFP.MN PUBLISHED:2025/06/13      6 GOLD, MINED BY ARTISANAL AND SMALL-SCALE MINERS OF MONGOLIA TO BE SUPPLIED TO INTERNATIONAL JEWELRY COMPANIES WWW.MONTSAME.MN PUBLISHED:2025/06/13      7 AUSTRIA PUBLISHES SYNTHESIZED TEXTS OF TAX TREATIES WITH ICELAND, KAZAKHSTAN AND MONGOLIA AS IMPACTED BY BEPS MLI WWW.ORBITAX.COM  PUBLISHED:2025/06/13      8 THE UNITED STATES AND MONGOLIA OPEN THE CENTER OF EXCELLENCE FOR ENGLISH LANGUAGE TEACHING IN ULAANBAATAR WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/12      9 MONGOLIA'S 'DRAGON PRINCE' DINOSAUR WAS FORERUNNER OF T. REX WWW.REUTERS.COM PUBLISHED:2025/06/12      10 MONGOLIA’S PIVOT TO CENTRAL ASIA AND THE CAUCASUS: STRATEGIC REALIGNMENTS AND REGIONAL IMPLICATIONS WWW.CACIANALYST.ORG  PUBLISHED:2025/06/12      БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ ДАХЬ НҮБ-ЫН ХҮҮХДИЙН САН, ТЭРБУМ МОД ҮНДЭСНИЙ ХӨДӨЛГӨӨНИЙГ ДЭМЖИХ САН, КРЕДИТЕХ СТМ ББСБ ХХК “ХҮҮХЭД БҮРД – НЭГ МОД” САНААЧИЛГЫГ ХАМТРАН ХЭРЭГЖҮҮЛНЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/06/13     ЕРӨНХИЙЛӨГЧИЙН ТАМГЫН ГАЗРЫН ДАРГААР А.ҮЙЛСТӨГӨЛДӨР АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/13     34 ДЭХ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР ХЭРХЭН АЖИЛЛАНА ГЭЖ АМЛАВ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     “АНГЛИ ХЭЛНИЙ МЭРГЭШЛИЙН ТӨВ”-ИЙГ МУИС-Д НЭЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     Г.ЗАНДАНШАТАР БАЯЛГИЙН САНГИЙН БОДЛОГЫГ ҮРГЭЛЖЛҮҮЛНЭ ГЭЖ АМЛАЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/12    

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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Japan and Mongolia agree on North Korea response and economic cooperation www.japantimes.co.jp

VLADIVOSTOK, RUSSIA – Prime Minister Shinzo Abe and Mongolian President Khaltmaa Battulga agreed Wednesday to cooperate in dealing with North Korea’s rising nuclear and missiles threat as well as economic matters.

The meeting, held on the sidelines of an economic forum in the Russian Far East port city of Vladivostok, is the leaders’ first since Battulga was elected president in July. Mongolia has diplomatic ties with North Korea, while Japan does not.

Abe told Battulga that North Korea’s nuclear test Sunday, which followed the launch last week of a ballistic missile that flew over northern Japan, poses an “unprecedentedly grave and imminent threat” and is “totally unacceptable,” according to the Foreign Ministry.

Prime Minister Abe underlined the need to strengthen pressure on North Korea, the ministry said.

The leaders confirmed the importance of strictly and fully implementing U.N. Security Council resolutions, it said. The resolutions impose sanctions on North Korea and ban it from conducting nuclear tests and testing ballistic missiles.

They also agreed to seek early resolution of the issue of past abductions of Japanese nationals by North Korean agents. Tokyo expects Ulan Bator’s help in resolving the issue with the country having served as a venue for Japan-North Korea talks over the long-stalled agenda.

“I attach importance to Mongolia as a crucial partner in the region. I hope to promote our bilateral relationship,” Abe said at the start of the meeting, which was open to the media. Battulga said, “I want to contribute to the development of East Asia and the Far East.”

Resource-dependent Mongolia aims to cooperate with Japan on rebuilding and diversifying its economy with a focus on agriculture, manufacturing and pollution control, based on a new medium-term action plan formulated in March.

Mongolia needs to implement fiscal reforms under an International Monetary Fund rescue program after its economy was hit by falls in commodity prices and a slowdown in the Chinese economy, according to the ministry.

Battulga thanked Abe for Japan’s support in developing the Mongolian economy under the IMF rescue program, the ministry said.

The Mongolian leader also told Abe that he has picked Dolgorsuren Dagvadorj, the former sumo grand champion Asashoryu, as his special envoy to promote cooperative ties with Japan.

Abe is on a two-day trip to Vladivostok, during which he will also meet Russian President Vladimir Putin and South Korean President Moon Jae-in.

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Centerra Gold shares soar on Kyrgyz settlement talks www.mining.com

Canada's Centerra Gold (TSX:CG) on Wednesday outlined the terms of advanced negotiations with the Kyrgyz Republic in its drawn out environmental dispute over the firm’s Kumtor gold mine in the central Asian nation.

Centerra's press release came after details of the proposed agreement contained in a government statement to a parliamentary committee, appeared in the Kyrgyz media. The proposed settlement agreement would end mutual lawsuits and calls on Toronto-based Centerra to pay $50m to a so-called Nature Development Fund and increase annual contributions to the fund to $3m from $300,000 before. A cancer care support fund set up by the government will receive a further $10m from the company.

Centerra will also invest $6m annually in a Kumtor reclamation fund based inside the country to a minimum of $69m. That figure matches the company's own estimate of the site's total rehabilitation costs.

Centerra cautioned however that the terms are still to be finalized and that its board has not yet formally approved a deal. The Kyrgyz government owns just under a third of Kumtor and the mine contributes nearly 10% of the country's GDP.

The miner, the largest Western-based gold producer in Central Asia, successfully sought international arbitration in May last year, following the Kyrgyz Republic’s string of penalties, fines, accusations of environmental damage and violation of business deals.

Last year a Kyrgyz court ordered Centerra's local subsidiary, Kumtor Gold Company (KGC), to pay about $98m in fines related to mine waste while another government body filed a $230m lawsuit against the firm.

Kumtor, which lies near the Chinese border at an altitude of 4,000 metres, has produced around 11m ounces since inception and remaining reserves are pegged at 5.6m ounces. In November Centerra said it was increasing its gold output guidance for the mine to 525,000 to 555,000 ounces and lowering all-in sustaining cost forecast to $751 – $795 per ounce.

Centerra has been shopping for assets in safer jurisdictions and last year acquired US-based Thompson Creek Metals (TSX:TCM), picking up the Mount Milligan copper-gold mine in British Columbia, Canada, in a $1.1 billion deal.

Shares in Centerra were trading up 8.2% early afternoon in Toronto after a halt on the stock was lifted. The company is worth $2.3 billion on the TSX and is sporting gains of more than 30% so far in 2017.

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Consumer Inflation Expectations Survey Shows Positive Signs www.mongolbank.mn

Mongolbank has conducted its quarterly “survey on the consumer inflation expectation” and the results have showed there is a growing expectation that the tugrug will appreciate against the foreign currency. Furthermore, there are other positive expectations, such as slight decrease in interest rates and improving overall economic performance.

Consumers expect the inflation to be 3.4% by qualitative method, 4.1% by quantitative method, and 5% for sensitivity-based inflation expectations, in Q4 2017.

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Mongolia and Bhutan to increase cooperation www.news.xinhuanet.com

ULAN BATOR, Sept. 6 (Xinhua) -- Mongolian Foreign Minister Tsend Munkh-Orgil met with his visiting Bhutanese counterpart Lyonpo Damcho Dorji here on Wednesday on bilateral cooperation.

Noting that Mongolia and Bhutan have a common historical and cultural base, both foreign ministers agreed that the two landlocked countries need to strengthen bilateral, regional and international relations.
Dorji said that Bhutan is ready to boost cooperation with Mongolia in the agricultural, tourism, and health spheres. He also suggested Mongolia to develop a route for Mongolian tourists to Bhutan and to enhance cultural exchange.

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Abe meets Mongolian president www3.nhk.or.jp

Japanese Prime Minister Shinzo Abe had a meeting with Mongolia's new President Khaltmaa Battulga on an island in the south of Russia's Far Eastern city of Vladivostok. It was their first meeting.

Abe arrived in the city by government plane on Wednesday for the Eastern Economic Forum. It brings together government and business officials from Asia-Pacific nations.

Abe met with Battulga at a university on Russky island. The Mongolian leader took office in July.

Abe said he believes President Battulga is familiar with Japanese culture as he was informed the president has a black belt in judo. He said he hopes to work with Mongolia to develop bilateral ties.

Abe regards the country as an important regional partner.

The Japanese leader will meet separately South Korean President Moon Jae-in on Thursday morning and Russian President Vladimir Putin later in the day on the sidelines of the economic forum.

Abe plans to reaffirm with Moon that their countries will work together so that the UN Security Council can adopt a new sanctions resolution against North Korea for its latest nuclear test.

The prime minister will ask Putin to play a constructive role as a permanent member of the UN Security Council. Abe hopes the international community will work together to boost pressure on North Korea.

The 2 are also expected to discuss planned joint economic activities on 4 Russian-held islands claimed by Japan.

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Russian Flight Attendants Win Aeroflot Discrimination Case www.themoscowtimes.com

Moscow City Court has ruled in favor of Russian flight attendants in their suit against Russia's largest airline Aeroflot from discriminating against large women, Russian media said citing the court’s press service.

Ksenia Mikhailichenko, attorney for a group of stewardesses, told RBC that the court had recognized Aeroflot's requirement banning employment by women who wore large sizes as 'unenforceable'.

Moscow City Court also obliged Aeroflot to pay 5,000 rubles ($87) as well as back pay bonuses to Yevgenia Magurina, a flight attendant who had originally filed a discrimination suit against the airline.

Aeroflot said it was happy with the court decision, noting that the company did not discriminate against employees on the bases of age, gender, race or other attributes.

Magurina and a group of other Aeroflot employees unsuccessfully sued Aeroflot earlier this year after they said company officials told them in 2016 that "only young and slender' women could be employed by the airline and that those with a size larger than 48 (XL) would not be allowed on international flights.

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North Korean workers dies after fall from 6th floor www.news.mn

A North Korean worker was killed at a building site Monday (4th of September) when he fell from a sixth floor window of an apartment, officials said. The 27 year-old worker fell to his death at 8:00 p.m. at the Delgerekh residential block in the Khan-Uul district of the Mongolian capital, Ulaanbaatar.

At the time of the fall, it appears the young Korean was doing work on the scaffolding.

Officials from the Police Department and General Agency for Specialised Inspection are on the scene investigating.

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Australian jailed for alleged fraud in Mongolia www.news.mn

The Mongolian Police and Prosecution Authorities finally completed the investigation of the criminal case committed by Mohammed Ibrahim Munshi, citizen of Australia and UK. The investigation took more than 2 years to finalize the fraud of Mohammed Ibrahim Munshi who used the mineral licenses of Mongolia and raised huge amounts of funds from foreign and domestic investors deceiving them that license holder company would be selling its shares at the international stock exchanges and who fled from the investors until today. Back in 2015, Monnis International LLC filed a claim to the Police Authority and investigation had been launched. The criminal court of Mongolia has issued its verdict on Mohammed Ibrahim Munshi’s fraud case in July 2017.

The Primary Criminal Court of Khan-Uul district deemed that Mohammed Ibrahim Munshi should be called as guilty for his actions committed repeatedly to deceive properties of others, swindling others, misleading others through hiding the truth about the situation. The court verdict includes penalties to be taken, including 11 year of imprisonment for his actions, to compensate loss of MNT31 billion incurred by Monnis International and to put restriction on the right of possessor to transfer the mining licenses of some deposits.

Foreign media was also publishing stories about Mohammed Ibrahim Munshi’s fraud on raising funds from highly reputable international investment funds, companies and individuals claiming that he would jointly own deposits in Mongolia and make IPOs. For instance, Malaysian media had been covering stories on Government’s Pension Fund of Malaysia whereas 4 billion ringgits were transferred to Gobi Coal of Mongolia and mysteriously disappeared.

He is the person who stepped into Mongolia as a foreign investor, expanded his network, obtained licenses for number of mineral deposits and raised immense funds without trading a single share at the stock exchange. Perhaps, investors invested their money were trusted not in Mohammed Ibrahim Munshi, but to Mongolian wealth and minerals. He obtained from the relevant authorities licenses for over 80 Mongolian mineral deposits through its offshore companies registered in BVI and its subsidiaries registered in Mongolia. Mohammed Ibrahim Munshi developed “on paper” projects and raised funds for coal mines in Shinejinst of Bayankhongor aimag, Zeegt in Gobi-Altai, iron ore deposit in Arkhangai and more. But until today the deposits were not utilized appropriately and no dividends were given to the investors who were long waiting for their profits. Basically, it was found that all the money he raised from the ghost projects were transferred to his offshore companies’ accounts.

Gobi Coal and Energy, registered at BVI raised over USD 180 million from investors. The list of investors who had trust in Mohammed Ibrahim Munshi’s story include over 100 foreign and domestic investors such as Aabar foundation of UAE, Pension Fund of Malaysian Government, World Capital Group of the USA, Origo Partners PLC of PRC, Mount Kellet international investment fund, Monnis International of Mongolia. Mohammed Ibrahim Munshi attested during the court session that an internationally recognized Aabar foundation invested over USD90 million into Gobi Coal company. Apparently he used his personal connections with Joseph Borkowski, an advisor to the Secretariat of the foundation as the sources confirm that Joseph Borkowski is one of four Board of Directors of Gobi Coal, BVI. It also raises a suspicion that the Aabar foundation has made its decision to invest into Gobi Coal not meeting and learning existing shareholders’ concern about the project.

Mohammed Ibrahim Munshi was kept telling to the investors that “license holder company’s shares would be sold on reputable stock exchange within one year” since 2008 but failed to take any steps forward as the financial activities of his offshore companies wouldn’t even comply with the minimum requirements of any stock exchange.

During the investigation it was also revealed that money raised on behalf of the offshore companies using the Mongolian wealth were transferred back and forth between the bank accounts to be shown that the money were invested in Mongolia. Moneys transferred to Mongolia from the offshore accounts were mostly spent as management fees, service fees, advisory fees, employee bonuses, and wages in incredible large amounts, however, most of them were transferred to the accounts of his wife D.Uranbileg based on the fake contracts and arrangements. The police also confirmed that over 20 companies with the same or similar names as his offshore companies were registered with Registry of Legal Entity in Mongolia all of which were established on his wife and her relatives’ names.

When the investors who carried the loss demand money from Mohammed Ibrahim Munshi, he had been providing the same comment to jeopardize the name and reputation of Mongolia telling them “the corrupted Mongolian state ceases our operations and kicking out the foreigners, it’s very risky to run a business in Mongolia. All of us facing losses”.

Although the foreign investment may gone down due to economic conditions and legal environment, perhaps 10-20 percent of foreign investment are gone away because of erroneous information and intentional actions of swindlers such as Mohammed Ibrahim Munshi pretended to be called as a foreign investor.

The Police investigation and the court’s decision on Mohammed Ibrahim Munshi’s fraud case prove that not every individual called to be a foreign investor can be trusted, as well as the relevant authorities and organizations must be attentive to disclose the true information about the swindlers playing with the trust and money of others and share the lesson learnt.

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Ulaanbaatar Partnership - 2017 exhibition approaching www.montsame.mn

Ulaanbaatar /MONTSAME/ The Ulaanbaatar Partnership-2017 international exhibition, with aim to promote national products and to back domestic enterprises, will be held for the 42nd time on September 07-10 in the Misheel Expo Center. 

Organized by the Governor’s Office of Ulaanbaatar and the Mongolian National Chamber of Commerce and Industry (MNCCI), the upcoming event will be attended by over 70 enterprises from six countries including, Mongolia, Russia, Taiwan, Hong Kong, and the Czech Republic to advertize their over 120 kinds of products, said P.Ankhtuya, MNCCI Chair of Marketing Department.

"Any production and service business requires cooperation with many entities, such as purchasing and distribution of packaging, machines and equipment. During the exhibition, companies will have opportunities to get partner and hold talks on cooperation with other companies” she said. 

Exhibitors will offer discounts and promotions on their products. The best eco-friendly and healthy products will be selected and rewarded with awards from the capital city's Governor.

Taiwanese companies will introduce medical and electrical equipment, food product, cosmetics and wood processing equipment, while Czech companies will present their milk processing and dairy equipment. Also Hong Kong companies will promote their sale of pearls and jewellery, and Russian companies will bring honey and food products. National companies will take part with construction materials, medicine, cosmetics, cashmere and wool products, handcrafts and food products.

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Copper price hits fresh 3-year high as output at world's top producer falls www.mining.com

December copper futures trading on the Comex market in New York made fresh highs on Tuesday after the world's number one producer of the metal reported a sharp drop in production.

Copper touched $3.1785 a pound ($7,007 per tonne) in morning trade, the highest since September 2014. Copper is now up by more than 50% compared to this time last year.

The world's number one producer, Chile's Codelco, on Tuesday said first half production from its eight copper operations fell by 5.3% to 798kt from 843kt during the first six months of 2016. Falling grades were blamed for the decline which also added to the state-owned company's cash costs which went from $1.275 to $1.317 per pound of copper.

Despite the loss of output, the state-owned company announced profits just topping $1 billion during the period compared to a $97m loss in 2016 thanks to the recovery in the copper price. The company is pushing ahead with a $1.2 billion desalination plant for its mines in the Atacama desert of the South American nation.

Last week Codelco's chairman joined the chorus expressing doubts about the sustainability of the recent rally in the price:

"I'm a little skeptical…in the short-term," Oscar Landerretche said a mining conference in Chilean capital Santiago. "It's true that all of the fundamentals are good in the medium- and long-term…but I would be very cautious."
Codelco produced over 1.8m tonnes of the red metal for the full year 2016, which was also lower than the year before.

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