The Government of Mongolia and Orano Reaffirm Their Partnership for a Sustainable Mining Development www.businesswire.com

PARIS-On the occasion of the working visit to France by the Mongolian government delegation from May 14 to 16, H.E. Nyam-Osor Uchral, Minister and Chief Cabinet Secretary of Mongolia, and Mr. Nicolas Maes, Chief Executive Officer of Orano group, reaffirmed the enduring partnership between the two parties, built over 25 years of constructive cooperation.
The parties welcomed the progress made since the signing of the investment agreement on January 17, 2025, which laid the foundation for the development of the Zuuvch-Ovoo uranium project in Mongolia. They underscored their shared commitment to advancing the project in line with international best practices, with particular emphasis on radiation safety, environmental protection, operational security, and meaningful community engagement.
Recognizing the importance of transparency, scientific integrity, and stakeholder trust, and in line with the best international practices, the parties announced the establishment of a Stakeholders’ Council comprising representatives from civil society, non-governmental organizations, scientific experts, and local communities. This Council will serve as a consultative and informative mechanism to ensure inclusive dialogue and reinforce public confidence, regarding environmental and radiological safety.
In addition to this measure, the government of Mongolia has decided to establish a state-of-the-art, internationally accredited radiological laboratory. Orano welcomes this initiative and expresses its willingness to support it: this independent facility will provide reliable and transparent data on radiation levels and environmental impact.
Mr. Xavier Saint Martin Tillet, Senior Executive Vice President of Orano’s Mining Business Unit, stated: “Orano is guided by the conviction that sustainability is only achievable through responsible mining practices. Our operations align with international frameworks, including those of the International Atomic Energy Agency (IAEA) and the International Council on Mining and Metals (ICMM), of which Orano has been a member since 2011. Our procedures are regularly audited by independent third parties. We are committed to working closely with Mongolian academic institutions to foster innovation in the exploration and processing of uranium. Orano is pleased to collaborate with Mongolian authorities and stakeholders to establish a state-of-the-art, internationally accredited radiological laboratory.”
H.E. Minister Nyam-Osor Uchral stated: “Our partnership with Orano reflects the government of Mongolia’s broader vision for sustainable and responsible resource development. We appreciate Orano’s longstanding engagement and its commitment to high standards of environmental and operational integrity. The government will take all necessary measures to support the safe and secure implementation of the project, while ensuring that local communities remain well-informed and engaged throughout.
The creation of the Stakeholders’ Council and the establishment of an internationally accredited radiological laboratory are tangible steps towards strengthening public confidence. We are confident this collaboration will serve as a model for responsible, transparent, and inclusive uranium development.”
The two parties reaffirmed their commitment to ensuring that the Zuuvch-Ovoo project contributes meaningfully to Mongolia’s development priorities and reflects best practices in international collaboration.
About Orano
As a recognized international leading operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group’s 17,500 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow.
Orano, giving nuclear energy its full value.

B.Enkhbayar: If the Prime Minister is following the principle ‘If I die, everyone dies,’ I don’t support www.gogo.mn

B.Enkhbayar, Member of Parliament, has publicly expressed his position regarding the controversy surrounding the Prime Minister’s son.
“Since our party group meeting was held behind closed doors, I can’t speak on behalf of other members,” he said. “But personally, I’ve called for party leaders to be involved in addressing the demands of young protesters and broader political concerns.”
He emphasized that citizens have the right to question politicians and hold them ethically accountable for their words and actions. He added that Prime Minister L.Oyun-Erdene, as party leader, has suggested convening a party conference soon.
“I made it clear that if the meeting includes discussion about family or children matters, I would not allow it. And B.Enkhbayar stressed that issues that can be resolved through political decisions should not drag the entire party into collective responsibility".
The Prime Minister has stayed silent too long. The Party members are confused that defending the leader is becoming right or wrong. And now he’s making strange remarks himself, which just adds fuel to the fire.”
What is going on with the leaders of the People's Democratic Party, and HUN Party? This is not a parliamentary issue. And if the principle here is ‘If I die, everyone dies with me’ I can’t support that.

RBI Notifies $700 Million Exim Bank LoC to Mongolia for Crude Oil Refinery Project www.taxscan.in

The Reserve Bank of India (RBI) has released a new circular on May 16, 2025, informing banks and exporters about a major financial agreement between India and Mongolia. According to the circular, the Export-Import Bank of India (Exim Bank) has signed a deal with the Government of Mongolia to offer a Line of Credit (LoC) worth $700 million (about 5,800 crore rupees). This money will be used by Mongolia to build a crude oil refinery in their country. A crude oil refinery is a facility that processes raw oil into useful products like petrol, diesel, and other fuels. This project is expected to help Mongolia reduce its dependence on imported fuel.  What does this mean for Indian exporters? Indian companies can now export goods and services needed for the refinery project. But only those items that are allowed under India’s Foreign Trade Policy can be exported under this credit line. Exim Bank will decide what goods and services are approved. When does it start and end? The agreement was effective from May 6, 2025. The last date to use the funds is 48 months (4 years) after the scheduled completion date of the refinery project. Important rules for exporters: No commission allowed: Exporters are not allowed to receive any commission for these exports under this credit line. Use of own funds: If exporters still want to pay commission to agents or partners, they must use their own funds or money from their Exchange Earners’ Foreign Currency (EEFC) account, and only after the full payment for the exports is received. Export reporting: All shipments under this credit must be properly declared using official export documents as per RBI rules. Balance Sheet Audit with AI: Transforming Traditional Reviews with Intelligent Automation, Register Today Role of Banks: The RBI has asked all Authorised Dealer (AD) Category-I banks (these are banks allowed to deal in foreign exchange) to: Inform their exporter clients about this opportunity. Guide them to contact Exim Bank for full project and credit line details. Exporters can visit Exim Bank’s office in Mumbai or check their website www.eximbankindia.in for more information. Legal Note: This circular has been issued under the Foreign Exchange Management Act (FEMA), 1999, and exporters must also follow any other rules or laws that apply.

100 autonomous electric trucks begin work in giant Mongolia mine www.thedriven.io

PH, Mongolia deepen bilateral ties in landmark diplomatic talks www.pna.gov.ph

MANILA – The Philippines and Mongolia strengthened their economic and strategic partnership in a historic visit by Mongolian Foreign Minister Batmunkh Battsetseg on Monday, after over four decades.
In his speech on Monday, Foreign Affairs Secretary Enrique Manalo described the visit as a milestone in the Philippines-Mongolia relationship, noting the productive bilateral meeting with Battsetseg, that led to the issuance of the two nations’ first bilateral statement since 2000.
Battsetseg also paid a courtesy call on President Ferdinand R. Marcos Jr.
“The Philippines and Mongolia are two of the fastest-growing economies not only in Asia but in the world. The future of our bilateral partnership finds strength in our two resource-rich economies,” Manalo said.
“As middle-income countries, we share an interest in pursuing cooperation to sustain our promising development trajectories,” he added.
In a joint statement, Manalo and Battsetseg reaffirmed the enduring bonds of friendship between the Philippines and Mongolia, emphasizing that bilateral ties are founded on a shared commitment to peaceful coexistence and mutually beneficial cooperation. 
The two officials also highlighted common values such as freedom, democracy and human rights, as they stressed the importance of an open, inclusive and rules-based international order grounded in international law, equity and justice. 
The two sides agreed to advance cooperation in trade and investment, food security, English language training and regional security.
“The Secretary and the Minister reaffirmed their shared commitment to strengthening trade and investment ties by fostering sustainable economic growth and private sector collaboration, while advancing comprehensive trade cooperation, expanding trade volume, and promoting mutually beneficial market access,” the joint statement read.
Both nations expressed satisfaction with the progress on a memorandum of understanding on agricultural cooperation that aligns with the priorities of both President Marcos and Mongolian President Ukhnaa Khurelsukh, who have each declared food security as a national agenda.
Meanwhile, recognizing Mongolia’s designation of English as its second official language, the Philippines launched a pilot program for Mongolian civil servants and rural officials to study English in the Philippines, to be organized by the Technical Cooperation Council of the Philippines and Technical Education and Skills Development Authority.
Labor cooperation also featured prominently in the discussions, as Manalo thanked the Mongolian government for ensuring the protection of the rights and welfare of around 500 Filipino workers in Mongolia.
“I discussed with her our desire to forge cooperative frameworks that will better protect Filipinos in Mongolia,” he said.
The two countries identified potential cooperation in tourism, science and innovation, disaster risk reduction, and defense.
On regional security, they reaffirmed their commitment to international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS), and underscored the importance of the 1982 Manila Declaration on the Peaceful Settlement of Disputes.
The Philippines and Mongolia noted their shared vision of a world free of nuclear weapons as they advance regional security and global disarmament goals. 
“The two sides decided to continue cooperating to promote nuclear weapons-free zones in the context of the review process of the Treaty on the Non-Proliferation of Nuclear Weapons,” the joint statement read. 
Mongolia expressed strong interest in becoming a Sectoral Dialogue Partner of the Association of Southeast Asian Nations, a move supported by the Philippines. In turn, Mongolia backed the Philippines’ bid for a non-permanent seat at the UN Security Council for 2027–2028.
Both sides emphasized the importance of collective action to address climate change, focusing on building resilience and prioritizing disaster risk reduction, while the Philippines expressed its full support for Mongolia’s hosting of the 17th Session of the Conference of the Parties of the UN Convention to Combat Desertification, to be held in Ulaanbaatar in 2026. (PNA)

Fifth Mongolian woman conquers Mount Everest www.qazinform.com

The Mongolian National Climbing Federation announced that International Master of Sports in Mountaineering Ariunzul Chuluunbaatar has reached the summit of Mount Everest, which rises 8,848 metres above sea level, MONTSAME reports. 
This achievement makes her the 17th Mongolian climber, and fifth Mongolian woman, to stand atop Everest. She is now descending toward Camp IV.
Honored Athlete B. Gangaamaa was the first Mongolian woman to scale Everest successfully. Since the first Mongolian set foot on the “Roof of the World” in 2005, a total of 17 Mongolian climbers have reached Everest’s summit over the past 20 years.
Noteworthy, Kazakh climbers conquered Mount Kilimanjaro, the highest peak in Africa, rising 5,895 meters.

Draft Law on Ratifying the Loan Agreement between Mongolia and IBRD Submitted to Speaker of Parliament www.montsame.mn

On May 16, 2025, Minister of Finance of Mongolia Javkhlan Bold submitted the draft Law on Ratifying the Loan Agreement between Mongolia and the International Bank for Reconstruction and Development to Chairman of the State Great Khural Amarbayasgalan Dashzegve.
If the draft Law is adopted, funding from the Loan Agreement will be channeled to the “Energy-3 Project,” which aims at upgrading the Baganuur–Choir 110 kV overhead transmission line to a 220 kV double-circuit line and expanding the Baganuur and Choir substations.
Finance Minister Javkhlan Bold highlighted that the Project is vital for meeting the rapidly growing demand for reliable, stable electricity.

Mongolian banking sector's net foreign assets decline 49.9 pct in April www.xinhuanet.com

The Mongolian banking sector's net foreign assets declined by 49.9 percent year-on-year to reach 4.9 trillion Mongolian tugriks (1.37 billion U.S. dollars), local media reported on Monday, citing data from the National Statistics Office (NSO).
During the period, the net domestic assets of Mongolia's banks reached 36.6 trillion tugriks (10.24 billion dollars), which represents an increase of 29.1 percent compared to the same period of 2024.
Meanwhile, the cumulative savings within Mongolian commercial banks demonstrated a robust performance, reaching a total volume of 21.9 trillion tugriks (6.12 billion dollars) by the end of April 2025.
It is noted that the dollar savings experienced a substantial uptick, surging by 20.1 percent, while Mongolian tugrik savings exhibited a more modest increase of 17.5 percent.
Currently, there are about 1,500 branches of 11 commercial banks operating in Mongolia.

Bank of Mongolia Ends 5-Year Losses with 2024 Profit www.insidemongolia.mn

Mongolia launches 5G Nationwide www.insidemongolia.com

Mongolia has officially launched its 5G network, marking a major step forward in the country’s digital transformation. Licenses for 5G deployment have been granted to the 5 major telecom operators, Unitel, Mobicom, Skytel, GMobile, and ONDO.
🚶 Unitel Leads the Way
Mongolians first experienced 5G in 2022 when Unitel introduced the country’s very first 5G pilot site in Ulaanbaatar. A year later, the company expanded its efforts by rolling out pilot networks across all 21 provincial centers, laying the groundwork for today’s full-scale nationwide launch. Today, Unitel remains one of the country’s most extensive network operators, with an average of 79% of the population across the 21 provinces using its services in some form.
📃 A Vision for the Future: As the leading player in Mongolia’s 5G expansion, the CEO of Unitel Group said, “This launch marks the beginning of a new business ecosystem. 5G isn’t just about speed. It offers low-latency and high-capacity connectivity that opens new opportunities in manufacturing, logistics, healthcare, and education. It enables innovation, reduces costs, and supports broader economic growth.”
 ✅ Target for 2027
With this rollout, Mongolians now join over 2 billion people worldwide who have access to 5G services. As the technology becomes a key driver of innovation, Mongolia aims to achieve 5G coverage for 70% of its population by 2027.
🤲 5G technology promises dramatically faster speeds, lower latency, and greater reliability compared to previous generations. It is expected to revolutionize sectors such as healthcare, education, logistics, and manufacturing by enabling advanced technologies like artificial intelligence, automation, the Internet of Things (IoT), and remote operations.
Overall... Although Mongolia may be a latecomer to 5G compared to more developed nations, the opportunities and advancements following the rollout of this next-generation network promise significant progress and transformation ahead. With this milestone, Mongolia positions itself not just as a technology adopter but as a future-ready, connected nation prepared to harness the full potential of the digital age.