1 GOVERNMENT TO FORMALLY APPROACH RIO TINTO, OYU TOLGOI TO SAFEGUARD NATIONAL INTEREST WWW.MONTSAME.MN PUBLISHED:2026/01/09      2 NON-COMPLIANT ADVERTISING BILLBOARDS TO BE REMOVED WWW.MONTSAME.MN PUBLISHED:2026/01/09      3 FROM TORONTO, CANADA TO PHU QUOC, VIETNAM: MONGOLIA’S BOLD 2026 AVIATION EXPANSION INCLUDES NEW FLIGHTS, VISA-FREE TRAVEL, AND AIRPORT UPGRADES! WWW.TRAVELANDTOURWORLD.COM PUBLISHED:2026/01/09      4 MONGOLIA TO MARK 820TH ANNIVERSARY OF THE GREAT MONGOL EMPIRE WWW.MONTSAME.MN PUBLISHED:2026/01/09      5 PARLIAMENT SUPPORTS SOLAR GER INITIATIVE UNDER NEW REGULATORY REFORMS WWW.MONTSAME.MN PUBLISHED:2026/01/09      6 MONGOLIA TO PURCHASE 710 THOUSAND TONS OF GASOLINE FROM RUSSIA WWW.OPEN.KG PUBLISHED:2026/01/09      7 ULAANBAATAR TO INSTALL 11.7 KM OF STORM DRAINS AT 19 SITES WWW.MONTSAME.MN PUBLISHED:2026/01/09      8 BUILDING MONGOLIA'S NEW, OLD CAPITAL AT KHARKHORUM WWW.THEDIPLOMAT.COM PUBLISHED:2026/01/08      9 BACKED BY INDONESIAN TYCOON, THIS LISTED FIRM RUSHES TO ACQUIRE A MONGOLIAN MINE WWW.CNBCINDONESIA.COM PUBLISHED:2026/01/08      10 PREPARATORY WORK LAUNCHED TO BRING THE BORTEEG DEPOSIT INTO ECONOMIC CIRCULATION WWW.MONTSAME.MN PUBLISHED:2026/01/08      УЛААНБААТАРТ ӨНДӨР ТЕХНОЛОГИЙН ХОЁР ҮЙЛДВЭР БАЙГУУЛЖ, УСАН ХАНГАМЖИЙГ 80 ХУВИАР НЭМЭГДҮҮЛЛЭЭ WWW.GOGO.MN НИЙТЭЛСЭН:2026/01/09     ХУУЛЬ БУС ЭЗЭМШИЛД БАЙСАН 15 БАРИЛГА БАЙГУУЛАМЖИЙГ НИЙСЛЭЛД БУЦААН АВЧЭЭ WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/09     МОНГОЛ УЛСАД 37 097 ГАДААД ИРГЭН ОРШИН СУУХ БҮРТГЭЛТЭЙ БАЙНА WWW.EAGLE.MN НИЙТЭЛСЭН:2026/01/09     ҮСХ: 12 ДУГААР САРЫН ИНФЛЯЦ 7.5 ХУВЬТАЙ ГАРЛАА WWW.EAGLE.MN НИЙТЭЛСЭН:2026/01/09     2026 ОНД НИЙСЛЭЛД ХЭРЭГЖИХ ТОМООХОН БҮТЭЭН БАЙГУУЛАЛТУУД WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/09     ДУЛААНЫ ТАРИФ НЭМЭГДҮҮЛЭХ ШИЙДВЭРИЙГ ХОЙШЛУУЛЖ, 2027 ОНЫ НЭГДҮГЭЭР САРЫН 1-НЭЭС НЭМНЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2026/01/09     НИЙГМИЙН ДААТГАЛЫН ӨР ТӨЛБӨРТ ТООЦОЖ, "КАПИТАЛ" БАНКНААС ХУРААСАН ХӨРӨНГИЙГ ДУУДЛАГААР ХУДАЛДАНА WWW.GOGO.MN НИЙТЭЛСЭН:2026/01/09     НИЙСЛЭЛИЙН 19 БАЙРШИЛД 11.7 КМ АВТО ЗАМЫН БОРООНЫ УС ЗАЙЛУУЛАХ ШУГАМ УГСАРНА WWW.ITOIM.MN НИЙТЭЛСЭН:2026/01/08     "БНХАУ-ЫН НЭГ КОМПАНИТАЙ ШАТАХУУНЫ ГЭРЭЭ БАЙГУУЛСАН" WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/08     ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР “РИО ТИНТО-Д ХАТУУ ШААРДЛАГА ХҮРГҮҮЛНЭ WWW.NEWS.MN НИЙТЭЛСЭН:2026/01/08    

Category

Events

Events

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MBCC “Doing Business with Mongolia seminar and Christmas Receptiom” Dec 10. 2025 London UK MBCCI London UK Goodman LLC

NEWS

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Mongolia ready to permit opening of Russian bank branch — prime minister www.tass.com

Mongolia is prepared to permit a Russian bank branch to open in the country to resolve payment difficulties amid sanctions, Prime Minister Gombojavyn Zandanshatar said during a meeting with Russian President Vladimir Putin.
"An important topic for us remains the issues of mutual payments, settlements and trade. Today, our finance ministers have almost reached an agreement on solving these problems. We are ready to grant all permissions to open a branch of a Russian bank. We can carry out all payments, all settlements through it," he stated.

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Russia, Mongolia steadily developing cooperation — Putin www.tass.com

Cooperation between Russia and Mongolia is developing steadily, Russian President Vladimir Putin said at a meeting with visiting Mongolian Prime Minister Gombojav Zandanshatar.
"I am very glad to see you. We met not long ago and had an opportunity to discuss our current affairs in many areas of high priority for both Mongolia and Russia. In general, we are very glad that the situation is at a good level from the point of view of developing cooperation," he said. "Our bilateral relations are developing steadily."
Putin cited statistics that in the first eight months of the current year trade between Russia and Mongolia grew by 7.9%. "It’s worth noting that in the present-day conditions, a growth of nearly 8% is a good figure," he said.
Apart from that, the Russian president recalled that this year marks the 105th anniversary of diplomatic relations between the two countries. "We are thankful to the Mongolian president for sharing with us the May 9 celebrations when he attended festive events on the anniversary of Victory in the Great Patriotic War (of 1941-1945 the Eastern Front during WWII where the former Soviet Union fought against Nazi Germany - TASS)," Putin added.

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Former Rio boss Jacques called to give evidence to Mongolian inquiry www.afr.com

Former Rio Tinto chief executive Jean-Sebastien Jacques and several current Rio executives have been called to provide evidence to a Mongolian parliamentary inquiry into cost blowouts at the Oyu Tolgoi copper mine.
The mine is expected to be one of the world’s top-five producers of the red metal by the end of this decade but remains politically contentious in Mongolia after construction took almost two years longer than expected and cost almost $US1.7 billion more than planned.
Jean-Sebastien Jacques has had plenty of time to mess with the winning formula.  Bloomberg
The Mongolian government is a 34 per cent shareholder in the mine and was directly affected by the cost surges, while the schedule blowouts delayed the revenue that was expected from the project.
A parliamentary committee was established in September to investigate the blowouts and is scheduled to hold public hearings between December 8 and 12.
Close to 300 witnesses have been called by the inquiry, including several former Mongolian prime ministers and presidents, as well as Jacques, who was Rio chief executive between 2016 and 2020.
Before he became CEO, Jacques was Rio’s copper boss and struck a crucial agreement with the Mongolian government in 2015 to spend $US5.7 billion turning the small open-pit mine at Oyu Tolgoi into a giant underground mine.
That 2015 agreement ended a three-year impasse and was pivotal in Jacques being promoted to Rio CEO in early 2016.
Although Jacques could choose to ignore the invitation, the summons will be harder to ignore for current Rio staff, such as Brisbane-based Mongolian national Munkhsukh Sukhbaatar, Rio’s managing director for copper strategy and growth.
Another rising star at Rio, Chris Aitchison, has also been summoned to provide evidence.
Aitchison has spent the past three years working in Guinea helping to build the Simandou iron ore project. He is one of the favourites to be the next chief executive of the Mongolian company that owns the mine, Oyu Tolgoi LLC, with the incumbent Deirdre Lingenfelder set to step down on December 9.
The list of former Rio executives called to give evidence includes former copper boss Arnaud Soirat, former Oyu Tolgoi president and now Kincora Copper chairman Cameron McRae and former finance executive Luke Colton, who is now chief financial officer of Lithium Americas.
The inquiry is also keen to get evidence from Richard Bowley, the former Oyu Tolgoi employee who claimed in a United Kingdom court that Rio should have disclosed the cost and schedule blowouts to investors sooner.
Bowley told The Australian Financial Review he would decline the invitation to testify as he was disappointed by the limited scope of the inquiry.
Controversy over Oyu Tolgoi is nothing new for Rio, which was this year accused by the Mongolian government of being involved in political bribery in the UK High Court, as part of a claim designed to force Rio to produce more internal documents.
The High Court ruled that Rio did not have to produce the documents in an effective defeat for the Mongolian government.
A Rio spokesman confirmed the miner was aware of the hearings.
“Oyu Tolgoi and Rio Tinto acknowledge the parliamentary temporary oversight committee’s announcement regarding a hearing scheduled for early December 2025,” he said.
“We remain committed to constructive engagement with the committee and its inspectors and continue to provide requested information and documentation.”
Rio forgave $US2.4 billion of debt owed by the Mongolian government in 2022, but the parties continue to argue over tax and Mongolia is pushing for the interest rate on its remaining debts to be lowered.
“Negotiations between Rio Tinto and the government of Mongolia on the shareholder loan interest rate and the management agreement are ongoing,” said the Rio spokesman.
Mongolia forced the Oyu Tolgoi mine to make a significant engineering change in June, when it delayed approval for the mine to push into neighbouring tenements that are part-owned by Canadian company Entree Resources.

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Meeting between Mikhail Mishustin and Prime Minister of Mongolia Gombojavyn Zandanshatar www.government.ru

The meeting took place on the sidelines of the SCO Heads of Government Council meeting.
Mikhail Mishustin: Mr Zandanshatar, First of all, I would like to ask you to convey greetings and best wishes to President of Mongolia Ukhnaagiin Khürelsükh from President of the Russian Federation Vladimir Putin, and from me personally.
Mongolia is our strategic partner in the Asia-Pacific region. Our relationship is founded on a long-standing tradition of friendship and mutual support between the peoples of Russia and Mongolia.
The negotiations between President Vladimir Putin and Mr Khürelsükh on 7 May in Moscow and 2 September in Beijing confirmed our shared interest in further deepening multifaceted Russian-Mongolian cooperation. Through our governments, we are creating favourable conditions to advance strategic projects, primarily in energy, industry, transport, and culture.
Our Intergovernmental Commission on Trade, Economic, Scientific, and Technical Cooperation is functioning actively. It is chaired by our Minister of Natural Resources and Environment Alexander Kozlov. We await the appointment of a new co-chair from the Mongolian side. Subject to your agreement on the date, we propose holding the Commission’s next meeting in Ulaanbaatar before the end of the year.
We are strengthening cultural cooperation and assisting Mongolia in training its national personnel. Over 70,000 Mongolian citizens have graduated from Russian higher and secondary educational institutions. It is particularly pleasing that you, Mr Prime Minister, are one such representative. We consider it important to expand the teaching of the Russian language in Mongolia.
We regularly hold Days of Culture and Days of Russian-Mongolian Friendship, conduct joint research expeditions, and are expanding our contacts in sport.
This year marks the 80th anniversary of our Great Victory over German Nazism and Japanese militarism. The joint participation of President Vladimir Putin and Mr Khürelsükh in the commemorative events in May in Moscow and in September in Beijing has become a new symbol of friendship and a reminder of the shared historical memory of the peoples of Russia and Mongolia.
Mr Zandanshatar, the floor is yours.
Gombojavyn Zandanshatar (via interpreter): Mr Mishustin, I am delighted to accept your invitation to participate in the expanded meeting of the Council of Heads of Government of the Shanghai Cooperation Organisation Member States and in this personal meeting with you.
First, I would like to state that Mongolia is committed to developing equitable relations with the Russian Federation, as well as to a comprehensive strategic partnership between our countries. We will work towards this end.
This year has seen numerous highest- and high-level ceremonial events. These include the event marking the 80th anniversary of Victory in the Great Patriotic War, in which the President of Mongolia participated, while I personally took part in the Eastern Economic Forum and met with President Vladimir Putin.
All agreements at the level of our heads of state are of the utmost importance, and we will do everything to ensure they are implemented in practice. We will pay particular attention to working very closely in this direction.
I would like to address the following issues of bilateral cooperation.
First, trade and economic relations; second, the transport sector; third, the energy sector; fourth, geology and mining; fifth, agriculture; sixth, trilateral cooperation between Mongolia, Russia, and China; as well as other matters.
You also mentioned that we marked the 80th anniversary of Victory over fascism and our joint victory in the Battle of Khalkhin Gol.

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Wool, Cashmere Industry Export Potential: USD 1 Billion www.montsame.mn

The Bank of Mongolia held the Non-Mining Export and Supply Chain Financing Conference on November 17, 2025, to discuss how Mongolia can unlock new economic potential by strengthening its non-mining sectors, especially wool and cashmere.
Despite having a livestock population of 57.65 million in 2024, Mongolia continues to export the majority of its animal fibers in raw or semi-processed form. Non-mining exports of cashmere, wool, hair, skins, and hides generate an estimated USD 400 million annually, yet account for only 7 percent of total export volume, compared to 93 percent from minerals.  
Lkhagvasuren Byadran, Governor of the Bank of Mongolia (BoM), highlighted a study showing that with targeted investment and better value chain development, the wool and cashmere sector alone could generate over USD 1 billion annually. Currently, only 8.4 percent of processed cashmere is turned into finished consumer products, revealing a major gap in value-added production.
The forum emphasized the need for tailored financial instruments to support textile and fiber processing. Director of the Research and Statistics Department at BoM, B. Dulamzaya, reported that, as of early 2025, Mongolia has shifted its export focus from washed to combed cashmere – a higher value product that earns 1.8 times the price.
The average loan in the processing sector is MNT 1.275 billion, with interest rates of 11.2 percent and a 28-month term.
As of the third quarter of 2025, MNT 1.419 trillion had been disbursed to over 4,000 borrowers, with MNT 42.4 billion directed specifically to wool and cashmere processing. Of these, 16 borrowers received MNT 42.4 billion specifically allocated for wool and cashmere processing and raw material preparation. As of October 31, 2025, a single borrower held an outstanding loan balance of MNT 408 million. Out of 303 loan applications totaling MNT 876.1 billion, 168 borrowers were approved for financing amounting to MNT 473 billion. Currently, enterprises in the cashmere sector operate under an average interest rate of 8.1 percent, with loan maturities averaging 23 months. These firms collectively hold a loan balance of MNT 4.9 billion, with average monthly repayments of MNT 234 million, reflecting stable credit activity and a consistent repayment capacity across the industry.
The event brought together representatives from the Mongolian Bankers Association, the Wool and Cashmere Association, domestic producers, commercial banks, and international financial institutions to discuss how to scale up financing and industrial capacity.

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TMK lays down new Mongolian daily gas record www.brisbanetimes.com.au

TMK Energy has smashed another gas production record, pumping out 500 cubic metres of gas a day across successive days from its Pilot Well project, part of its Gurvantes XXXV coal seam gas project in southern Mongolia.
The company is also on track to punch out yet another record with its November gas production.
TMK Energy has smashed another gas production record at its Pilot Well project, part of the company’s wider Gurvantes XXXV coal seam gas project in southern Mongolia.
TMK Energy has smashed another gas production record at its Pilot Well project, part of the company’s wider Gurvantes XXXV coal seam gas project in southern Mongolia.
November gas production to-date is averaging about 480 cubic metres of gas per day and if it continues to produce at this level, it will put October’s record average of 395 cubic metres of gas per day firmly in the shade.
The 21 per cent increase above the current record for average daily production continues the strong output of the Lucky Fox wells within the Pilot Well project, as TMK moves closer towards the desorption pressure required to significantly increase gas volumes.
The company says the path to achieving the required desorption pressure is now clearer after recent reservoir modelling, along with a review of detailed subsurface data.
‘The revised reservoir management plan is clearly having a positive impact with gas production rates increasing month on month.’
TMK Energy chief executive officer Dougal Ferguson
One of its key objectives this year has been to reduce the reservoir pressure below the critical desorption pressure, which is one reason why the company drilled additional production wells this year.
Additional wells help provide the extra pumping capacity needed to quickly reach the critical desorption pressures for the project to deliver an immediate uplift in gas production. Gas rates are anticipated to increase substantially when the objective is achieved.
TMK Energy chief executive officer Dougal Ferguson said: “Achieving the first of what we expect will be one of many production milestones, is a great effort by the technical and operations team. The revised reservoir management plan is clearly having a positive impact with gas production rates increasing month on month.”
Ferguson said water production is continuing at rates of over 500 barrels per day, which is what is required to continue depressurising the reservoir toward desorption. Dewatering helps to lower the pressure, causing the gas to desorb from the coal seams. Recent analysis confirmed the majority of the water is being produced from the coal seams, not from adjacent aquifers or non-coal bearing zones, providing a strong indication of coal seam permeability.
A technical workshop was held in Beijing last week, where the results of the recent work was reviewed by TMK’s management and J-Energy, the company’s strategic alliance partner.
Notably, the workshop validated the merits of the project and confirmed the economic potential of the project’s massive gas resource. TMK plans to use knowledge garnered from the workshop to assist with implementation of its 2026 work program and company budget, in addition to formulating a strategic plan to how best commercialise its gas when significant quantities of gas are produced.
It expects to produce gas at a commercial scale next year from the project spanning 60 square kilometres in the Nariin Sukhait area of Mongolia’s vast countryside. The company’s contingent resource (2C) of 1214 billion cubic feet (BCF) of natural gas is Mongolia’s biggest. The project currently contains a 5300BCF prospective resource across its total 8400-square-kilometre ground.
Management believes the reservoir modelling will allow it to move quickly towards a pre-feasibility study, which will include well spacings and design, predict gas drainage patterns and forecast productivity of the projects’ Lucky Fox wells.
Like many nations, Mongolia is keen to transition away from energy produced from burning coal. Coal seam gas is considered ideal as a “clean transition fuel” because it produces about half the carbon emissions produced by coal-generated electricity and burns cleaner than other fossil fuels.
With the project close to the global powerhouse that is China and its northern gas pipelines, the company is in a premier position as a future producer of a commercial scale gas supply.
TMK believes its Gurvantes XXXV project can become a regionally significant, reliable source of natural gas for both Mongolia’s domestic market and the wider regions energy infrastructure.

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Mongolian and Russian Prime Ministers hold high-level talks in Moscow www.gogo.mn

On November 18, G.Zandanshatar, Prime Minister of Mongolia, met with Russian Prime Minister Mikhail V. Mishustin, where both leaders underscored plans to deepen and strengthen the Comprehensive Strategic Partnership between Mongolia and Russia across energy, industry, transport, education and humanitarian cooperation.
G.Zandanshatar highlighted Mongolia’s focus on successfully implementing major regional projects, including the proposed natural gas pipeline across Mongolian territory from Russia to China and the Mongolia–Russia–China Economic Corridor program.
Prime Minister Mishustin described Mongolia as an important strategic partner for Russia in the Asia–Pacific region, grounded in long-standing friendship, mutual trust and popular support. He also reassured that recent Russian export restrictions on fuel and gasoline do not apply to Mongolia, and that supplies of petroleum products to Mongolia will remain stable and increase in volume.
Both sides agreed to convene a regular meeting of the Mongolian–Russian Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation in Ulaanbaatar before the end of the year to advance joint projects and cooperation.

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Mongolia’s MPP Taps Uchral Nyam-Osor as Chair www.thediplomat.com

Inside Ulaanbaatar’s Buyant-Ukhaa Sports Palace, frigid November winds outside gave way to the buzz of 2,200 delegates from Mongolia’s ruling Mongolian People’s Party (MPP). The 31st MPP Congress on November 15, themed “Unity-Solutions-Development,” was not just a routine leadership vote; it was a desperate bid to rebuild trust after a year of corruption scandals, political infighting, and unmet economic promises. 
At the center of this high-stakes gathering was Uchral Nyam-Osor, Mongolia’s 38-year-old first deputy prime minister, who secured a landslide 94.95 percent of the vote to become the MPP’s new chair. Can this technocrat revive the MPP, or is his ascent just a polished effort to preserve the status quo? 
For Mongolia, a nation of 3.5 million caught between the geopolitical heft of China and Russia, the MPP’s choice carries outsized consequences. The party has governed almost without interruption since 2016, but its legitimacy has crumbled in recent years. A 2025 coal reserve corruption scandal – echoing the 2022 Tavan Tolgoi mine theft that cost the state billions – toppled former parliamentary speaker Amarbayasgalan Dashzegve, while ex-Prime Minister Oyun-Erdene Luvsannamsrai resigned in June amid protests over elite excess. By the time the party congress convened, MPP approval ratings had plummeted below 30 percent, and the opposition Democratic Party (DP) was gaining ground with its anti-graft messaging. 
Uchral, with his “not too bad” reputation and track record in digital policy and economic diplomacy, emerged as the MPP’s “reset candidate” – a figure who could bridge factional divides while convincing voters the party was serious about change. But as delegates cheered his victory, skeptics wondered: Was this a genuine break with the past, or just another act in the MPP’s cycle of crisis and cosmetic reform?
The MPP’s Perilous Calculus: Why Uchral, Why Now?
To understand Uchral’s selection, one must first grasp the MPP’s existential crisis in 2025. The party’s troubles began in early 2025, when viral videos showed Oyun-Erdene’s son’s girlfriend flaunting luxury cars and designer handbags – an insult to Mongolians struggling with 9.2 percent inflation and 27.1 percent poverty. Protests erupted in Ulaanbaatar, and Oyun-Erdene lost a no-confidence vote in June, collapsing the MPP’s coalition with the DP. 
His replacement, veteran politician Zandanshatar Gombojav, fared little better: By September and October early, he was locked in a feud with Amarbayasgalan, the parliamentary speaker and MPP chairman at the time, over allegations that Amarbayasgalan had siphoned Tavan tolgoi state coal reserves. Amarbayasgalan resigned, and Zandanshatar survived a no-confidence vote in the legislature only via a constitutional court intervention. 
By November, the MPP’s leadership was in shambles. The party’s old guard – represented by Zandanshatar and former officials – was tainted by scandal, while younger members were demanding a purge of entrenched interests. Uchral emerged as the perfect compromise. 
A parliamentarian since 2016, Uchral’s ascent included roles as minister of digital development and communications (2022-2024), chief cabinet secretary (2024-2025), and first deputy prime minister since June 2025. Importantly, unlike his predecessors, he has no ties to the coal sector, the epicenter of Mongolia’s corruption. His degrees in management and humanities from Ikh Zasag University – co-founded by his family – and international stints in Russia and Malaysia (reportedly also some U.K. based programs) equip him to navigate Mongolia’s Eurasian crossroads while courting “third neighbor” ties with the West.
Uchral’s dossier showcases pragmatic triumphs. As digital minister, he championed the “Chinggis Sat” project, partnering with SpaceX and France’s Thales Alenia Space for a 2027 satellite launch to provide remote steppes with broadband access, bolstering e-governance and disaster resilience. Economically, he brokered a 2025 Eurasian Economic Union trade pact – slashing tariffs on 367 goods to eye $3 billion in bilateral flows – and a $1.6 billion uranium deal with Orano Mining at Zuuvch-Ovoo, promising hundreds of jobs and revenue diversification from coal’s chokehold.
But the seeds of controversy are these as well. His family’s Ikh Zasag conglomerate links to the Khunnu Group invite murmurs. A 2023 misstep – ramming a vague “Social Media Human Rights Protection Law” through parliament in 72 hours, decried as a censorship ploy – earned a presidential veto and international rebuke, revealing Uchral’s susceptibility to party pressures on freedoms. He now spins the maligned law as a “lesson in humility,” but it underscored the potential clash between his reformist facade and entrenched loyalties.
The MPP’s decision to back Uchral was also a nod to generational change. At 38, he is the youngest MPP chairman in decades, a contrast to the party’s gerontocratic old guard. His “E-4 Strategy,” unveiled at the congress to streamline party operations, resonated with younger delegates: Efficiency (digitalizing party processes), Ethics (anti-corruption audits and a “whistleblower protection” system), Empowerment (training young candidates), and Equity (gender quotas and research-driven elections). For the MPP’s leadership, Uchral was the obvious choice to revamp the party’s brand. 
What’s Next for Uchral? Power, Limits, and the Presidency Question
Uchral’s victory raises a pressing question: Will he hold only the MPP chairmanship, or seek higher office, like the speaker or prime minister posts? For now, the answer points to a careful balancing act. The MPP has opted for a “dual leadership” model: Zandanshatar remains prime minister, while Uchral leads the party – a arrangement designed to appease both the “stability faction” (older elites wary of rapid change) and the “development faction” (younger, urban professionals who backed Uchral). This division of labor is intentional: Zandanshatar manages day-to-day governance, while Uchral shapes the MPP’s electoral strategy ahead of the 2027 presidential election and 2028 parliamentary vote. 
The prime minister’s office, however, may not be off the table forever. If Zandanshatar stumbles – whether over economic missteps or fresh corruption allegations – Uchral could step in. Zandanshatar’s role in implementing Mongolia’s 2026-2030 “New Trust-Action Innovation” development plan (which aims for 6 percent annual GDP growth and a top-50 global competitiveness ranking) will be a key test. Success there – creating jobs, curbing inflation, and diversifying beyond mining – could make him indispensable.
As for the presidency, Mongolia’s constitution requires presidential candidates to be at least 50 years old. For now, the MPP’s presidential hopefuls are likely to be older figures: Zandanshatar (55), Sandag Byambatsogt (52, the current government chief of staff), and others. Uchral’s task is to build the MPP’s 2027’s electoral fortunes so that when he is eligible, the party is strong enough to back him.
Uchral could also face opposition from MPP’s inner circle, the “board of elders” (Political Committee) that wields informal power. Their support for Uchral is conditional. They see him as a tool to rebuild the party’s brand, but they will not tolerate reforms that threaten their interests. Uchral’s E-4 Strategy, for example, includes term limits for senior party officials – a direct challenge to elders who have held power for decades. If he pushes too hard, the old guard could turn on him. 
“The elders gave Uchral a leash,” said one Mongolian analyst on condition of anonymity to speak frankly. “It’s long enough to let him look like a reformer, but short enough to yank him back if he crosses a line.”
Why the Heavyweights Sat Out: Factional Deals and Calculated Retreats 
Uchral’s landslide victory raised a question: Where were the MPP’s other heavyweights? The answer lies in the MPP’s factional politics – and the quiet deals that preceded the congress. 
Figures like Byambatsogt Sandag (51, a key organizer of the congress, current chief cabinet secretary), Enkhbayar Jadamba (52, minister of agriculture and light industry), Temuulen Ganzorig (44, a member of parliament) and Amarsaikhan Sainbuyan (52, former deputy prime minister) all declined to run. Uchral’s lone challenger, Lkhagvajav Batbold  – a mid-tier party organizer and current president of the Mongolian National Chamber of Commerce and Industry (MNCCI) with no factional backing – never stood a chance. 
Whispers in Ulaanbaatar’s coffee houses suggest MPP elders sidelined more formidable rivals – including Zandanshatar loyalists and DP defectors – to ensure Uchral’s victory. “This wasn’t an election,” said the analyst. “It was a coronation. The MPP wanted a ‘clean’ face, so they cleared the field.”
Byambatsogt, a close ally of Zandanshatar, had little incentive to challenge Uchral. The two have worked closely on the EAEU trade deal and the Orano uranium project, and Byambatsogt’s role as government chief of staff gives him influence over policy implementation. Running and losing would have weakened him; instead, he threw his support behind Uchral, securing his place in the new leadership. Enkhbayar, meanwhile, may lack a strong faction. His portfolio (security, agriculture and light industry) is less high-profile than Uchral’s economic and digital roles, and he has no clear base of support among delegates. For him, sitting out was a pragmatic choice to avoid embarrassment. 
For younger potential challengers like parliamentarian Temuulen, the risks of running outweighed the rewards. With Uchral’s nomination backed by both the Standing Committee and key factional leaders, a challenge would have been a futile gesture, likely resulting in political marginalization. The MPP’s history of punishing dissenters – exemplified by its expulsion of the Democratic Party from the governing coalition in June – has created a culture of compliance, where loyalty to the party line is prioritized over ideological differences.
Amarsaikhan, a former Ulaanbaatar mayor and former deputy prime minister, is still recovering from a scandal over mismanaged city and national emergency funds during the pandemic. He lacks the credibility to challenge Uchral, so he opted to bide his time. 
The most puzzling absence, then, was Nyambaatar Khishgee, Ulaanbaatar’s current mayor, who publicly endorsed Uchral. Nyambaatar, 47, has ambitions of his own, but he recognized that Uchral had the elders’ backing. Running against him would have split the party’s urban vote – and damaged Nyambaatar’s chances in future elections. 
In short, the MPP’s old guard coordinated to clear the field for Uchral. They wanted a unified front to show voters the party was no longer divided. For the heavyweights, sitting out of this month’s race was not a sign of weakness – it was a calculated move to protect their own power while letting Uchral take the lead on reform.
The Risks Ahead: Reform or Façade? 
Uchral’s chairmanship begins with promise, but peril lurks. The MPP’s “unity” is fragile: the stability faction and development faction agree on little beyond the need to win elections. Uchral’s reforms – term limits, digital transparency, anti-corruption audits – will clash with the elders’ desire to hold onto power. If he waters down his proposals to keep the peace, he risks losing the trust of young voters. If he pushes too hard, he could split the party. 
The economy, too, is a minefield. Mongolia’s growth relies on mining (80 percent of exports), making it vulnerable to global commodity price swings. The Orano uranium project (set to start production in 2028) and EAEU trade deal are steps toward diversification, but they will take years to bear fruit. 
Long-existing challenges continue to hinder progress. Corruption has scared off foreign investment in clean energy. The Oyu Tolgoi copper-gold mine – discovered in 2001 and ramping up underground production since 2023 – is projected to contribute up to 30 percent of Mongolia’s GDP by 2030 but has faced criticism for high capital expenditures and limited short-term fiscal returns. Uchral has avoided calling for a renegotiation, fearing it would damage Mongolia’s investment reputation – a pragmatic choice that risks alienating rural voters.
In the short term, Uchral must implement the 2026 budget, passed by parliament on November 12. It includes popular measures – raising teachers’ salaries by 742,000 Mongolian tugrik, to 2.8 million tugrik annually, plus a 15 percent raise for healthcare workers, and 8.6–20 percent boosts to pensions and social subsidies. But these gains are funded by deep cuts: 990.169 billion tugrik in recurrent expenditure and 361.1382 billion tugrik in capital expenditure, including 50 percent reductions to new infrastructure projects and road construction.
Geopolitics adds another layer of risk. Mongolia’s “third neighbor” strategy hinges on balancing China (its top trade partner), Russia (a key energy supplier), and the West (a source of investment and soft power). Uchral’s role in the Power of Siberia 2 gas pipeline negotiations will test this balance. The pipeline could bring Mongolia hundreds of millions of dollars annually in transit fees, but it also deepens reliance on Russia and China, potentially alienating the West. 
The biggest risk, however, is that Uchral’s reform agenda becomes a façade. The MPP has promised anti-corruption crackdowns before, only to target low-level officials while protecting the elite. If Uchral fails to prosecute senior figures linked to the coal scandals, public trust will collapse. “The Mongolian people have heard ‘reform’ so many times they’re cynical,” said the analyst. “Uchral needs to put people in jail – real people, not scapegoats – or he’ll be just another MPP politician.” 
As the Buyant-Ukhaa Sports Palace emptied on November 16, Uchral stood at the center of Mongolia’s political future. His chairmanship is a gamble for the MPP: a bet that a young, “clean” technocrat can revive a party mired in scandal. For Mongolia, it is a chance to break free from the cycle of resource dependency and corruption that has held it back. 
Uchral’s success will depend on two things: his ability to outmaneuver the MPP’s old guard and his willingness to deliver tangible change. If he can implement his E-4 Strategy, grow the economy beyond mining, and hold the elite accountable, he could reshape Mongolia’s political landscape. If not, the MPP’s decline will continue – and Mongolia may face a future of political instability. 
Sumiya Chuluunbaatar
Sumiya Chuluunbaatar is an economist and expert on international issues. Sumiya is currently working as a non-resident fellow at the Institute of International Studies, Mongolian Academy of Sciences.

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Prime Minister, Rio Tinto Copper Chief Hold Talks on Oyu Tolgoi www.montsame.mn

Prime Minister of Mongolia Zandanshatar Gombojav met with Katie Jackson, Chief Executive of Copper at Rio Tinto, on November 17, 2025, to discuss optimizing Mongolia’s value proposition in the Oyu Tolgoi copper mining operation.
The meeting followed a virtual consultation held on November 11, during which both parties exchanged views on maximizing Mongolia’s economic stake in the project. Ms. Jackson’s visit to Mongolia enabled direct dialogue, helping to consolidate negotiating positions and foster mutual understanding.
During the discussions, both parties reiterated their shared commitment to reducing interest rates and management fees, which are key financial levers for improving Mongolia’s economic returns from the Oyu Tolgoi project. The bilateral working group has already reached an agreement in principle to lower the interest rate.
However, Prime Minister Zandanshatar underscored that the current management fee remains disproportionately high, characterizing the prevailing calculation methodology as inequitable and economically suboptimal for Mongolia. PM emphasized the importance of recalibrating the fee structure to reflect international benchmarks and prevailing market dynamics.
The Prime Minister further emphasized the critical importance of transparency in Oyu Tolgoi’s financial reporting and procurement practices, advocating for fair, open, and accountable operations as a foundation for sustainable, long-term collaboration. In response, Ms. Jackson reaffirmed Rio Tinto’s commitment to working constructively and expeditiously with the Government of Mongolia to achieve mutually beneficial outcomes through the ongoing negotiation process.

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Waste-to-Energy Plant to Generate 35 MW Annually www.montsame.mn

The planned “Waste-to-Energy Plant” will operate 8,000 hours per year and supply 35 megawatts of electric power once commissioned.
The Governor’s Office of the Capital City of Ulaanbaatar stated that it signed the Public-Private Partnership (PPP) agreement for building the facility last month, marking one of the first major projects to be implemented under the Law on Public-Private Partnership. Renshou Sichuan LLC was selected as the project contractor. The plant, designed to incinerate 1,500 tonnes of waste per day, will be constructed on a 10-hectare site in Moringiin Davaa, 12th khoroo of Khan-Uul District. The project represents an investment of USD 206.5 million. Construction will take 30 months, after which the facility will be transferred to the Government after a 28-year operating period.
Currently, only 11.4 percent of waste delivered to Ulaanbaatar’s three central landfill sites is recycled, while 88.6 percent is buried. Landfilling releases high levels of methane gas and poses significant environmental risks. The new facility will introduce advanced waste-to-energy technology that eliminates the need for landfilling by incinerating waste to generate electricity. Over the past few years, the concept of urban mining has been expanding globally, referring to the practice of extracting previously buried waste, incinerating it for energy production, and fully restoring affected ecosystems.
The project carries major environmental significance for Mongolia. The plant will incinerate not only Ulaanbaatar’s municipal waste but also waste from Zuunmod, Altanbulag, and Sergelen soums in Tuv aimag, free of charge. Additionally, waste accumulated over the past decade at the Ulaanchuluut and Tsagaandavaa landfill sites will be excavated and incinerated, allowing the surrounding environment to be fully restored.

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