1 PRIME MINISTER OYUN-ERDENE VISITS EGIIN GOL HYDROPOWER PLANT PROJECT SITE WWW.MONTSAME.MN PUBLISHED:2025/04/30      2 ‘I FELT CAUGHT BETWEEN CULTURES’: MONGOLIAN MUSICIAN ENJI ON HER BEGUILING, BORDER-CROSSING MUSIC WWW.THEGUARDIAN.COM PUBLISHED:2025/04/30      3 POWER OF SIBERIA 2: ECONOMIC OPPORTUNITY OR GEOPOLITICAL RISK FOR MONGOLIA? WWW.THEDIPLOMAT.COM PUBLISHED:2025/04/29      4 UNITED AIRLINES TO LAUNCH FLIGHTS TO MONGOLIA IN MAY WWW.MONTSAME.MN PUBLISHED:2025/04/29      5 SIGNATURE OF OIL SALES AGREEMENT FOR BLOCK XX PRODUCTION WWW.RESEARCH-TREE.COM  PUBLISHED:2025/04/29      6 MONGOLIA ISSUES E-VISAS TO 11,575 FOREIGNERS IN Q1 WWW.XINHUANET.COM PUBLISHED:2025/04/29      7 KOREA AN IDEAL PARTNER TO HELP MONGOLIA GROW, SEOUL'S ENVOY SAYS WWW.KOREAJOONGANGDAILY.JOINS.COM  PUBLISHED:2025/04/29      8 MONGOLIA TO HOST THE 30TH ANNUAL GENERAL MEETING OF ASIA SECURITIES FORUM WWW.MONTSAME.MN PUBLISHED:2025/04/29      9 BAGAKHANGAI-KHUSHIG VALLEY RAILWAY PROJECT LAUNCHES WWW.UBPOST.MN PUBLISHED:2025/04/29      10 THE MONGOLIAN BUSINESS ENVIRONMENT AND FDI: CHALLENGES AND OPPORTUNITY WWW.MELVILLEDALAI.COM  PUBLISHED:2025/04/28      849 ТЭРБУМЫН ӨРТӨГТЭЙ "ГАШУУНСУХАЙТ-ГАНЦМОД" БООМТЫН ТЭЗҮ-Д ТУРШЛАГАГҮЙ, МОНГОЛ 2 КОМПАНИ ҮНИЙН САНАЛ ИРҮҮЛЭВ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     ХУУЛЬ БУСААР АШИГЛАЖ БАЙСАН "БОГД УУЛ" СУВИЛЛЫГ НИЙСЛЭЛ ӨМЧЛӨЛДӨӨ БУЦААВ WWW.NEWS.MN НИЙТЭЛСЭН:2025/04/30     МЕТРО БАРИХ ТӨСЛИЙГ ГҮЙЦЭТГЭХЭЭР САНАЛАА ӨГСӨН МОНГОЛЫН ГУРВАН КОМПАНИ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     "UPC RENEWABLES" КОМПАНИТАЙ ХАМТРАН 2400 МВТ-ЫН ХҮЧИН ЧАДАЛТАЙ САЛХИН ЦАХИЛГААН СТАНЦ БАРИХААР БОЛОВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/04/30     ОРОСЫН МОНГОЛ УЛС ДАХЬ ТОМООХОН ТӨСЛҮҮД ДЭЭР “ГАР БАРИХ” СОНИРХОЛ БА АМБИЦ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/30     МОНГОЛ, АНУ-ЫН ХООРОНД ТАВДУГААР САРЫН 1-НЭЭС НИСЛЭГ ҮЙЛДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     ЕРӨНХИЙ САЙД Л.ОЮУН-ЭРДЭНЭ ЭГИЙН ГОЛЫН УЦС-ЫН ТӨСЛИЙН ТАЛБАЙД АЖИЛЛАЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     Ц.ТОД-ЭРДЭНЭ: БИЧИГТ БООМТЫН ЕРӨНХИЙ ТӨЛӨВЛӨГӨӨ БАТЛАГДВАЛ БУСАД БҮТЭЭН БАЙГУУЛАЛТЫН АЖЛУУД ЭХЛЭХ БОЛОМЖ БҮРДЭНЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/04/29     MCS-ИЙН ХОЁР ДАХЬ “УХАА ХУДАГ”: БНХАУ, АВСТРАЛИТАЙ ХАМТРАН ЭЗЭМШДЭГ БАРУУН НАРАНГИЙН ХАЙГУУЛЫГ УЛСЫН ТӨСВӨӨР ХИЙЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29     АМ.ДОЛЛАРЫН ХАНШ ТОГТВОРЖИЖ 3595 ТӨГРӨГ БАЙНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/04/29    

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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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Mining consolidation to speed up as Chinese demand growth slows www.reuters.com

Joint ventures and asset sales are expected to accelerate in the mining industry, which is ripe for consolidation due to the slowdown in manufacturing and demand growth for industrial metals, particularly in top consumer China.
However, full-scale mergers and acquisitions activity among diversified miners could be hampered for now by prohibitive high costs and significant chances of eventual rejection, investors said ahead of a global gathering of the copper industry for the CESCO event in Santiago, Chile next week.
Reluctance to engage at a company level is seen in LSEG data showing M&A in mining sector fell 27% in value terms to $15 billion in the first quarter compared to the same 2024 period.
Since the start of 2024, BHP’s shares have slumped 26% and Rio Tinto has dropped 23%, while Glencore’s shares have collapsed 42%.
Companies such as BHP and Rio Tinto have robust balance sheets and are delivering handsome returns to shareholders, but they are approaching a period of stalled earnings growth.
With no other country able to pick up the slack left by China and trade wars triggered by US President Donald Trump’s import tariffs, miners are thinking more about creating value and strength through scale.
“We are seeing more discussions about partnering, joint ventures and asset sales,” said George Cheveley, portfolio manager at Investment Manager Ninety One.
“We’re more likely to see smaller deals rather than wholesale takeovers. They are easier regulation wise and an easier way of improving your asset base and derisking your portfolio.”
Australia-listed BHP also recently formed a joint venture – Vicuña – with Lundin Mining. Vicuña now owns the Filo copper project in Argentina and the Josemaria project in Chile.
Struggling with declining ore grades BHP is planning to invest $10.8 billion over a period of 10 years in Chile starting with the Escondida operation
Instead of investing for growth, some have typically opted to boost shareholder returns with dividends and share buybacks.
“Our analysis suggests that valuation multiples are not responding to higher payout ratios and buybacks are no longer delivering strong returns making the pivot to growth more appealing,” said James Whiteside, head of corporate for metals and mining at Wood Mackenzie.
“Diversified companies seeking relevance through big payouts aren’t being rewarded, but the read across from copper miners is, investing in production growth pays.”
Historical precedents
“Historically, merger discussions often occur either at the very top of the cycle, because mining companies have a lot of money, or at the very bottom of the cycle, because there’s a need to find ways to create value,” said Christel Bories, chairman of French mining group Eramet.
The ball started rolling in April 2023 when London-listed Glencore’s attempt to buy Teck Resources for $23 billion was rejected. Glencore instead bought Teck’s metallurgical coal portfolio for $7 billion.
But it was when the world’s biggest miner BHP went hostile with a $49 billion bid for Anglo American, the mining world understood a restructuring of the industry was on the horizon.
“It’s important in the mining world for BHP to kick off the M&A cycle because it makes it easier for other CEOs to sell the idea to their boards,” said Liberum analyst Tom Price.
What has made selling the idea of M&A to company boards easier this time are forecasts of rocketing copper demand partly due to power grid replacement and upgrades and e-mobility which includes electric vehicles, scooters and bikes.
Information provider Benchmark Mineral Intelligence (BMI)expects copper demand from these two end-use segments will total 4 million metric tons in 2030 or 13% of global refined demand from 2.6 million tons or 9.5% this year respectively.
Overall, miners need to invest $200 billion to increase their copper production by 9.6 million tons, according to consultancy Wood Mackenzie.
China with its massive manufacturing sector accounts for roughly 55% and 50% of global consumption of copper and aluminum used in transport, packaging and construction.
“While stimulus is probably required, China’s various strategies over recent years have only stabilized activity in its commodity-intensive property/infrastructure sectors. They remain quite weak,” said Liberum’s Price.
(By Pratima Desai, Gus Trompuz and Divya Rajagopal; Editing by Veronica Brown and David Evans)

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Aus-British miner's plight in Mongolia has 'chilling effect' on investment www.miningmagazine.com

One man's plight in Mongolia is having a "chilling effect" on foreign capital inflow, according to his advocates, which comes in stark contrast to the warm and welcoming message the young and emerging democracy is trying to send to international investors. 
A citizen of both Australia and the UK, Mohammed Munshi has been detained by authorities in the landlocked country for more than a decade due to issues relating to his dealings as chairman of Gobi Coal and Energy Limited. 
Munshi was accused of defrauding investors by raising large sums of money for Mongolian mineral projects under false pretenses.
He is accused of failing to deliver on promises to list shares of the license-holding company on stock exchanges, with prosecutors arguing that he instead funneled funds into offshore accounts, failing to develop the mineral deposits.
During the decade-plus detainment, Munshi served a seven-year prison term, which ended mid-last year.
However, his court-imposed travel ban remains in place and is reportedly to remain so unless he pays his former Mongolian business partner almost 32 billion tugriks, or US$14.5 million. 
His advocates cite alleged mishandling by the Mongolian authorities from early on in the ordeal. 
One such advocate, Heretic Law partner Alison Battisson has been drumming up support for the sexagenarian and applying pressure on the Australian and British governments to intervene. 
Within the past three months, she has been interviewed by national Australian news outlets, The Australian, ABC, and SBS. 
She has also helped to prepare recent complaints regarding the situation to the UN Human Rights Council and UN Special Rapporteurs on Torture, Health, and Older Persons. 
A decade being ‘tortured, beaten, starved'
"Mr Munshi has spent the last decade being tortured, beaten, starved, religiously abused, living in disgusting conditions with open flowing toilets and at times completely cut off from the world," Battison was quoted as saying by The Australian in an article published on March 23. 
A spokesperson for Australia's Department of Foreign Affairs and Trade (DFAT) told Mining Journal that it is providing consular assistance to Munshi, including advocating to Mongolian authorities for the lifting of his travel ban on humanitarian grounds. 
"We also convey our expectations that Australians are entitled to due process, humane and fair treatment and access to their legal team.
"Owing to our privacy obligations we are unable to provide further comment," the spokesperson said. 
‘The Mo Munshi case is having a chilling effect on investment'
Battisson and fellow advocates have been keen to link Munshi's plight to inbound foreign investment in Mongolia, which is crucial to the resources-rich country's plans to double its heavily mining-dependent GDP by the end of the decade. 
Another Munshi advocate, former member of the UK Parliament and chair of the Mongolian-British Chamber of Commerce, John Grogan, told The Australian that the case could be "extremely damaging" to perceptions about Mongolia. 
"I am a big supporter of Mongolia and have visited the country 51 times but I have to tell my many friends there that the Mo Munshi case is having a chilling effect on investment and trade," he said. 
Battison said Munshi's treatment by the Mongolian judiciary and government "should serve as a warning to foreign investors in Mongolia". 
DFAT did not reply when asked whether the situation has negatively affected trade relations between the two countries. 
Mongolia's Ministry of Justice and Internal Affairs was not available for comment. 
‘Under threat of kidnap, his family fled'
On March 4, former Gobi Coal geologist, Mike Pole, recalled the events of the past decade in his blog, which has gained some press attention.
The complaint filed to the UN reportedly said the underlying accusation against Munshi was that he made statements to Chuluunbaatar Baz about how well GCE would perform and that he had suffered $25.5 million in losses as a result. 
Mining Journal attempted to contact Baz via Monnis Group, of which he is chief executive and president. There was no response. 
Pole's recollection is: "The case involved Gobi Coal and Energy making collateralised loans to a Mongolian company, owned by the Plaintiff's brother, who defaulted and was then taken, in 2015/2016, to the HKIAC Court in Hong Kong by GCE—who won the case. 
"The Plaintiff was an investor and shareholder in GCE Limited. Munshi was originally invited back to Mongolia in 2015 to discuss the issue and others, but was then detained. 
"He was then told, during the investigation period, by the police and prosecutors, that he would be permitted to leave Mongolia only if he paid the Plaintiff/CEO of the Mongolia investors company several million dollars, and waived his brother's collateralised loan and/or transferred to him the assets of Gobi Coal and Energy in Mongolia," he said.
Pole accused the Mongolian authorities of "a clear attempt to intimidate" by using an earlier version of the law "which had a more draconian sentence" before the Supreme Court reduced the sentence to seven years using the new law. 
"Under threat of kidnap, his family fled China to Australia," he added. Details of the allegation were reportedly included in the complaint to the UN. 
The UN complaint reportedly details Munshi's time in the maximum-security prison, including allegations of a lack of communication and medical treatment, as well as physical and verbal abuse and inhumane living conditions.
The Australian quotes the UN complaint to say, "Mr Munshi was told, multiple times throughout the course of his imprisonment, that he would be released and allowed to leave Mongolia if he paid off Chuluunbaatar Baz". 
Companies doing business in Mongolia
Australian-British Rio Tinto is serving as something of a test case given the scale of its operation at the Oyu Tolgoi copper mine in the South Gobi region.  
In December, Rio's chief executive for copper Katie Jackson told shareholders that Mongolia is "very much at the heart" of the mining giant's growth strategy. 
The relationship between the company and the country, however, has not been without its issues. 
Along with a lingering tax dispute, contractors, including Australians, Americans, and Canadians, working on the Oyu Tolgoi mine had their passports confiscated before being told to leave the country during a tense stand-off with the Mongolian government over a visa row. 
"When I visited Mongolia in October, I was really impressed by the high level of national participation. Our workforce is now 97% Mongolian, a crucial indicator of our focus on growing OT's social licence," Jackson said. 
"This is particularly important as we continue to focus with our government partners on resolving legacy shareholder issues," she said. 
She explained some of the issues as being "frictions around applications of investment frameworks and detailed applications of tax", which can cause "a little bit of grit in the relationship". 
"We need to work on that alignment and that future vision," she said. 
When questioned by Mining Journal whether Munshi's situation had factored into any of the company's decision-making or if it was aware of investment being affected, Rio was not available for comment. 
By Nathan Richardson

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Ulaanbaatar Introduces Advanced AI Software to Support Police Investigation www.montsame.mn

The Office of the Governor of the Capital City and the Council for Crime Prevention of the Capital City have handed over the “MD Video AI” software to the Traffic Police Authority of Mongolia. This software is utilized by police departments in seventy-six countries worldwide.
The software will be utilized in investigative procedures to enhance low-resolution surveillance footage obtained from crime scenes, identify facial characteristics and objects associated with specific criminal activities, strengthen the detection of crimes and violations, and facilitate the compilation of evidentiary materials.
Owned by the South Korean company GMD Soft, the software also offers the capability of retrieving essential applications, images, and video files from mobile devices that are no longer operational. Its integration into police operations is expected to yield benefits, including reductions in time and fuel expenditures during the investigation of both traffic-related incidents and other criminal cases, while also alleviating the workload of law enforcement personnel.
Governor of the Capital City and Mayor of Ulaanbaatar Nyambaatar Khishgee stated: “As of today, there are 2,606 smart cameras operating at 176 intersections and crossings in Ulaanbaatar City. These are monitored by the Video Surveillance Center of Ulaanbaatar City, which is now fully equipped with an intelligent camera system powered by AI software to detect crimes and violations. With the addition of the "MD-Video AI" software, we can now obtain more precise information. In other words, this marks a remarkable advancement in both hardware and software technologies.”
Lieutenant Colonel of Police and Head of the Investigation Division of the Traffic Police Authority Khosbayar Vanchigsuren said: “Collecting and securing evidence is the most crucial part of solving crimes. However, due to the poor quality of surveillance cameras previously installed by private entities, the evidence-gathering process has often been hindered, leading to delays in solving cases. The introduction of the "MD-Video AI" software has provided major support in restoring the rights of citizens and strengthening the collection of evidence.”
In addition to the software, the Capital City Governor’s Reserve Fund will be used to provide a full high-capacity computer system for implementation.

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Ion Energy Secures $13.5M Deal www.insidemongolia.mn

Toronto-listed ION Energy (ION.V) signs a $13.5 million agreement with strategic investor SureFQ to jointly develop the Urgakh Naran lithium project in Mongolia.
 Deal Details
SureFQ pays $5.5 million to ION Energy over 4.5 years and invests an additional $8 million over the next 4 years to advance the project. ION Energy retains a 20% stake in the project until commercial lithium production begins at Urgakh Naran.
Following the announcement, shares of ION Energy, which implements Mongolia's first lithium project, surge by over 22% on the Toronto Stock Exchange, reaching CAD 0.055.
 About SureFQ
SureFQ, a firm specializing in sustainable energy solutions and lithium resource development, leverages its industry expertise and advanced extraction technologies to accelerate the project’s progress. As a strategic investor, SureFQ focuses on developing high-potential assets that support the global energy transition.
 Financial Updates and Debt Settlement
In addition to the joint venture agreement, ION Energy also announces a debt settlement of $120,000. The company is to issue 3,000,000 common shares at $0.04 per share to settle the debt, providing additional liquidity for the development of its lithium projects.
Moreover, ION Energy has terminated its previously announced business combination with United Rare Earths. This decision reflects the company’s strategic focus on lithium exploration and development, ensuring resources are concentrated on high-potential projects like Urgakh Naran.
Looking Ahead, as Mongolia’s first lithium project, Urgakh Naran holds significant potential not only for ION Energy but also for the broader lithium market. The development of Urgakh Naran is particularly timely, given the increasing global demand for lithium, which is crucial for the production of batteries for electric vehicles (EVs).

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Progress of Natural Gas Pipeline Project Presented to Cabinet www.montsame.mn

During the regular session of the Cabinet of Mongolia on April 2, 2025, Deputy Prime Minister Amarsaikhan Sainbuyan presented the progress of the project to construct a natural gas pipeline from the Russian Federation to the People's Republic of China through the territory of Mongolia.
From the Mongolian side, the “Erdenes Gaz” project unit under “Erdenes Mongol” LLC and, from the Russian side, “Gazoprovod Soyuz Vostok” LLC—funded by “Gazprom”—are working together to implement the project. The project’s feasibility study was approved in January 2022, with engineering surveys completed the same year. Verification of the detailed design documentation is scheduled to be finished by 2024. The necessary land will be designated as special state-use territory, and an environmental impact assessment is planned for completion by the third quarter of 2025.
The gas pipeline will pass through six aimags and 22 soums of Mongolia, stretching 958.6 km underground from the northern border to the southern border. According to the feasibility study, the project is technically feasible, economically viable, and will not have any negative impact on the environment. The project will also increase foreign direct investment and expand the economy. 12,000 jobs will be created during the construction and more than 1,000 jobs during operation.
Natural gas is an inexpensive energy source, and building heat and power plants that use natural gas will improve the flexibility and stability of the energy system. Furthermore, the design plan calls for gas supply connections to Darkhan, Ulaanbaatar, Choir, and Sainshand, which would allow Mongolia to utilize natural gas domestically and fully address its air pollution issues.

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Ulaanbaatar to Implement 24 Mega Projects Under International FIDIC Contract Standards www.montsame.mn

Officials from the government and administrative organizations of the Capital City participated in a training session dedicated to the contract frameworks of the International Federation of Consulting Engineers (FIDIC) on April 2, 2025.
The training session offered in-depth insights into how FIDIC Contracts align with the legal framework of Mongolia, while also covering the key features and categories of these internationally recognized agreements. In accordance with Ulaanbaatar City's strategic objectives to reduce air and environmental pollution, alleviate traffic congestion, and enhance the quality of life for residents, 24 Mega Projects in Ulaanbaatar City are set to be implemented in accordance with FIDIC Contract standards.
Established in 1913 by engineers from the French Republic and the Kingdom of Belgium, FIDIC today comprises 102 member countries. The FIDIC introduced its first standard contract in 1957, and these model agreements remain widely used across the globe. FIDIC Contracts are structured to equitably allocate the rights, responsibilities, and liabilities of all key stakeholders in a project, ensuring risk mitigation and the avoidance of delays and financial losses through clearly defined, internationally accepted procedures.
First Deputy Governor of the Capital City in Charge of Economic Development and Infrastructure Davaadalai Tumendalai, noted: “By employing internationally recognized contractual frameworks that account for the interests of all stakeholders and provide built-in risk mitigation, we can ensure that infrastructure projects are delivered on time and without financial disruption. FIDIC represents the universal language of engineering.”
The 2023 Top Certified Trainer of the FIDIC and Consulting Engineer, Markus Thiel, mentioned: “When applying or drafting a FIDIC Contract, it is essential that all parties fully understand the methodology. This knowledge should not be limited to engineers but must also extend to employers and contractors. Without such understanding, there is a significant risk of misinterpretation and contractual disputes.”
Founder and Managing Partner at "Batbayar and Partners LLP" Batbayar Ganbayar said: “During the course of project implementation, disagreements or conflicts may arise. Under the standard conditions of FIDIC Contracts, it is possible to rapidly engage a neutral consulting engineer from the global network of FIDIC-affiliated experts to resolve such issues. This represents a practical advantage over local contracts bound strictly by domestic legal systems.”
FIDIC Contract models vary based on the nature and requirements of each project. For road and general construction initiatives, the Red Book and Yellow Book are commonly utilized. The Silver Book is employed for design-build projects under turnkey conditions, while the White Book serves as the standard model for consultancy service agreements.

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Interbank Transactions Now Use IBAN Numbers www.montsame.mn

Mongolia has transitioned to the international standardized bank account numbering system. Going forward, only International Bank Account Number (IBAN) account numbers will be used when making inter-bank transactions.
Under the order of the President of the Bank of Mongolia, starting this month, the old account numbering system for citizens and businesses has been discontinued, and accounts are now being converted to the international standardized system. An IBAN account is a 20-digit account number recognized by international standards, consisting of a country code, check digits, and the bank and account number. Adopting IBAN numbers will make international transactions faster, more reliable, and less risky, with no duplication issues and no occurrences of mismatched names and accounts, and other advantages.
Furthermore, it should be noted that using an IBAN account does not change the original account number.

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meerecompany Signs MOU with the Mongolian Center for Health Development www.surgicalroboticstechnology.com

meerecompany has announced that a delegation of 15 representatives from Mongolia’s Ministry of Health, the Center for Health Development, and other key medical institutions has visited the company’s Robotic Surgery Innovation Center to strengthen medical cooperation. The center houses the training facilities for the Revo-i surgical robot and visit was organized to learn about Korea’s advanced medical system and explore potential collaborations in robotic surgery.
The Mongolian delegation included Byambasuren Tuya, Head of the Human Resources Development Division at the Ministry of Health; Bayarmagnai Narantuya, Director of the Center for Health Development; as well as the heads of the National Center for Pathology, the National Center for Zoonotic Diseases, and the National Center for Mental Health. Officials from Gyeonggi Province and the Gyeonggi International Medical Association also accompanied the group.
Representing meerecompany was CEO Joon Koo Kim and Executive Vice President Ho Kun Lee, Head of the Surgical Robot Division. A key highlight of the visit was the signing of a Memorandum of Understanding (MOU) between meerecompany and the Mongolian Center for Health Development to collaborate on improving Mongolia’s medical system. As a core agency under the Ministry of Health, the Center is responsible for training healthcare professionals and shaping healthcare policy. Under the agreement, the two parties plan to:
During a demonstration held at the Robotic Surgery Innovation Center, Byambasuren Tuya operated the Revo-i robot and experienced its precision and intuitive control. Since its introduction at the National Cancer Center of Mongolia last year, Revo-i has drawn significant interest from both medical professionals and patients. This agreement is expected to accelerate the adoption of Revo-i and contribute to the enhancement of Mongolia’s surgical infrastructure.
The delegation also visited Bundang Jesaeng Hospital, where Revo-i has been implemented, to observe real-world clinical applications and discuss potential collaboration on robotic surgery training programs for Mongolian medical professionals. Moving forward, the two countries aim to expand medical exchanges and establish robotic surgery as a key component of Mongolia’s healthcare system.
Ho Kun Lee, Executive Vice President and Head of meerecompany’s Surgical Robot Division, stated, “This visit marks an important milestone, as the Mongolian government directly recognized the capabilities of Korean robotic surgery technology and formalized collaboration. We will continue working together to contribute to the advancement of Mongolia’s healthcare system.”
Source: meerecompany

 

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Gold and copper prices surge www.ubpost.mn

As of April 1, Mongol Bank’s gold purchase price has reached 349,069 MNT per gram, reflecting a steady increase over the past year. This trend aligns with the ongoing rise in gold and copper prices on the global market, influenced by recent U.S. trade policies.
The country’s copper concentrate sales have also seen an upward trend, with an average price of 1,721 USD per ton in 2023, increasing to 1,957 USD per ton in 2024. Experts attribute this price surge to the economic policies of U.S. President Donald Trump, particularly his decision to raise import taxes as part of efforts to reduce the US trade deficit.
Investors, responding to global economic uncertainty, have shifted their focus toward gold as a safe-haven asset. The financial sector often echoes the saying, “People who are afraid buy gold,” underscoring the metal’s reputation as a stable investment during periods of economic volatility and rising inflation.
“Gold prices have increased by 17 percent since the beginning of the year. Gold is becoming a safe investment vehicle due to increasing political and economic instability and inflation risks,” said a spokesperson from Apex Capital LLC.
Mongolia has attempted to capitalize on the favorable market conditions, though gold mining outputs fell slightly short of projections. The country planned to mine 18 tons of gold last year but managed 16.5 tons. Despite this, gold revenues significantly contributed to the national budget, generating 311 billion MNT in 2023 and 375 billion MNT in 2024.
Meanwhile, copper has proven to be an even greater economic driver, contributing 2.2 trillion MNT to the state budget in 2023 and increasing to 2.3 trillion MNT in 2024. With global market prices continuing to rise, Mongolia stands to benefit further from its resource exports, reinforcing its role as a key player in the international commodities market.

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Registration for the Ulaanbaatar Marathon 2025 is Now Open www.montsame.mn

The annual "Ulaanbaatar Marathon" International Competition will take place on May 24, 2025.
Registration for the marathon will be open from April 1, 2025, to May 20, 2025. Individuals, organizations, and international participants can register online at https://ulaanbaatar.marathon.mn/ or through the Hipay application, where they can also pay the registration fee. The race categories will remain the same as in previous years, ranging from 500 meters to 42 kilometers.
The registration fees are as follows:
1.5 km – MNT 5,000 per participant (including family category participants)
5 km – MNT 10,000
10 km – MNT 50,000
21 km – MNT 70,000
42 km – MNT 90,000
Most participants usually choose to compete in the 5 km race. Those registered for this category can pick up their bib numbers from the Sports and Physical Culture Department of Ulaanbaatar City or the sports committees of the nine districts. Bib numbers will be available for collection from May 1 to May 20, 2025.
The Sports and Physical Culture Department of Ulaanbaatar City will distribute bib numbers, timing chips, and event T-shirts to runners participating in the 42 km, 21 km, and 10 km races. This department will also handle verification and bib distribution for the 1.5 km race. Registration for the 500 m and 800 m races will be managed by Special Olympics Mongolia, and additional details will be announced soon.
Participants can download and print their official certificates at https://ulaanbaatar.marathon.mn/. The Ulaanbaatar Marathon is growing in popularity. In 2024, it attracted around 30,000 Mongolian and international runners.

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