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

NEWS

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Mongolia grabs 20 medals at Asian Classic Powerlifting Championship 2022 www.montsame.mn

The athletes from Mongolia won 10 gold, 6 silver, and 4 bronze medals at the Asian Classic Powerlifting Championship 2022, which took place in Dubai, United Arab Emirates on December 2-8, 2022. Twelve athletes from Mongolia competed in the championships and two of them became Asian Champions.
To summarize the achievements of the athletes who participated in the competition:
Ts. Bayarkhuu lifted a total of 590 kg and became Asian Champion by winning the 3 gold and 1 silver in the men`s +120 kg weight class of the masters-2 category.
B. Orkhon also ranked first at the Asian Classic Powerlifting Championship 2022 by winning 3 gold and 1 silver in the women`s -84 kg weight class of the sub-junior category.
Kh. Amarsanaa ranked second at the championship by grabbing the 2 gold and 3 silver in the men`s -74 kg weight class of the masters-2 category.
S. Minjnaatar ranked third at the championship by claiming silver and bronze medals in the men`s - 105 kg weight class of the open category.
B. Batkhishig won the gold medal by benching in the women`s 75 kg weight class of the junior category.
P. Enkhnasan won the gold medal by benching in the men`s – 105 kg weight class of the masters-1 category.
B. Amartsengel claimed two bronze medals by benching and deadlifting in the women`s -69 kg weight class of the open category.
A. Tserensodnom won a bronze medal by benching in the men`s – 74 kg weight class of the masters-1 category.
The championship comprises three powerlifting categories, namely squat, bench press, and dead-lifting. Over 600 athletes from 29 Asian countries competed in the tournament.
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Mongolia raises Personal Income Taxes www.news.mn

On November 11, 2022, the Parliament approved the Law on Amendments to the Personal Income Tax Law. The new law will be enforced from January 1, 2023. Therefore, Mongolians will pay
-10 percent taxes if he/she earns up to MNT 120 million a year,
-15 percent taxes from taxable income up to MNT 180 million a year,
-20 percent taxes if their taxable income exceeds MNT 180 million a year
In Mongolia, there are 57 citizens who earn more than MNT one billion per year. According to the amendments to the Law, taxes will be increased for only 1,300 citizens.
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Mongolia arrests ex-head of state mining company after corruption protests www.aa.com.tr

Rocked by protests over allegations of corruption in its coal trade with China, Mongolia on Thursday announced the arrest of the former head of its state-owned mining company.
Battulga Ganhuyag, ex-CEO of Erdenes Tavantolgoi JSC, was among eight people arrested in raids on Wednesday night, said Interior Minister Khishgee Nyambaatar.
Their offices and homes are also being searched as part of ongoing investigations, he told reporters at a news briefing, according to a report by state news agency Montsame.
Several hundred people braved freezing temperatures in the capital Ulaanbaatar to protest against corruption in the coal industry and the country’s ailing economy, with some trying to storm government buildings on Sunday.
Nyambaatar said a working group formed to support investigations into accusations of corruption in the coal industry held its first meeting on Wednesday evening.
He said the working group includes specialists and will “urgently collect necessary information from government agencies.”
It will also be “responsible for obtaining information on border customs from foreign countries,” he said.
Nyambaatar added that authorities have reopened probes into “four previous cases of unregistered coal transportation.”
 
 
 
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Air pollution slowly killing Mongolian children www.news.mn

On 1 December, Ulaanbaatar’s Air Quality Index was 169, showing air pollution levels with a particulate matter (PM) 2.5 concentration 18 times the World Health Organization (WHO) recommended level. It has remained well into unhealthy levels through 7 December.
Ulaanbaatar is the coldest capital city in the world. Nighttime temperatures falls below -40 degrees Celsius. Some 200 thousand people living in gers, traditional Mongolian yurts belonging mostly to migrants from the countryside, burn raw coal for heat as they do not have access to the central electricity grid of the capital. This practice has been identified as the main cause of Ulaanbaatar’s air pollution.
The city is located in the narrow valley of the Bogd mountain on the Tuul river. This geography creates a thermal inversion layer above the city, which traps its toxic air. With colder weather conditions expected in January and February, PM2.5 concentrations in the Mongolian capital could be up to 40 times higher than the WHO standard.
The toxicity of Ulaanbaatar’s winter air has very serious health implications for its population, particularly for children. Pneumonia is the second leading cause of death for children under 5, and children in Ulaanbaatar have 40 percent lower lung functioning capacity than children in rural areas of the country. Air pollution has also been strongly correlated with a decrease in delivered-infant conception rates during the winter months, demonstrating overall negative effects on reproductive health.
In May 2019, for the first time in history, the government implemented a ban on raw coal use. Instead, the government provided a form of processed coal product called briquettes, which burn for longer and don’t release fumes. (Source: Diplomat)
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Rio Tinto plays chancy round of Mongolian roulette www.reuters.com

LONDON, Dec 7 (Reuters Breakingviews) - December 9 is shaping up to be a big day for Jakob Stausholm. Just ahead of his two-year anniversary as Rio Tinto’s (RIO.L) chief executive, he will learn the fate of the mining giant’s tortuous efforts to buy out minority investors in Turquoise Hill Resources (TRQ.TO), the majority owner of a flagship project in Mongolia. Success would give the growth strategy a real boost; failure could mean senior heads roll.
Oyu Tolgoi, a $10 billion copper and gold mine near the Chinese border, is an epic saga dating back more than a decade. When it eventually scales up, it will be the world’s fourth largest excavator of the red metal. It has long been saddled with an unwieldy corporate structure, which involves Mongolia controlling 34% and Canada-listed Turquoise Hill, in which Rio holds a majority stake, owning the rest.
Cleaning up that structure prompted Stausholm to take two expensive steps. With Mongolia’s entire GDP a mere $15 billion, the country’s equity stake was only made possible by over $2 billion of historic loans owed to Turquoise Hill. The costs of repaying that debt and the accrued interest meant Ulaanbaatar stood to wait decades before receiving dividends from its own project. To stem political blowback regarding Rio’s alleged poor performance as the mine’s operator, Stausholm agreed a year ago to write off that debt.
Buying out the Turquoise Hill minority shareholders is Stausholm’s other initiative. Rio’s 51% ownership means it already consolidates $4 billion of the related Oyu Tolgoi debt onto its balance sheet. A successful deal would allow it to keep more of the earnings and increase Rio’s global copper production by 50% to around 900,000 tonnes by 2028. It also would be a way to rid Rio of similar complaints about its operational performance from the minority shareholders.
The process has been a shambles. Before Stausholm’s first offer in March, Turquoise Hill shares had been trading around C$25 ($18.35) apiece, valuing the equity at $3.7 billion. Some owners, including Pentwater Capital Management, which now holds a 15% stake, spurned the initial 36% premium. They also dismissed a sweetened C$40 bid. Even when Rio divulged its final offer of C$43 a share in September, valuing the company at $6.7 billion, Pentwater and another refusenik, SailingStone Capital, demurred. Determining the fair value has multiple answers, but the dissenters have come close to reaching the simple majority of non-Rio shareholders needed to block the deal.
Then things got really silly. In desperation, Stausholm deployed a peculiarity of Canadian securities law allowing Pentwater and SailingStone to have their Turquoise Hill valuations determined by an arbitration process, in return for sitting out the vote. While it wasn’t certain that process would award them much more, other shareholders feared the risk of an exclusive sweetheart deal was too great. Canadian regulators decided to investigate, which delayed the ballot yet again. On Nov. 18, Rio reversed course and scrapped the whole side deal.
Stausholm looks somewhat foolish, but he is not in a hopeless position. Arguably, the minority shareholders will have to accept the C$43. If they don’t, the shares could fall back to C$25. Considering that pure-play mining stocks such as First Quantum Minerals (FM.TO) and the copper price itself have both retreated by 15% since March, Turquoise Hill’s stock price might even drop to around C$20.
The Rio boss also has a stick, however. Due to cost overruns and delays, Oyu Tolgoi faces a funding gap exceeding $3.6 billion. Regardless of what happens at the ballot box, Stausholm will need money to get the project back on track. One way to do so is with a rights issue, which gives Stausholm the chance to kill two birds with one stone.
Imagine minority shareholders vote down the offer, but Rio then has Turquoise Hill issue fresh equity. Extending the due date on a chunk of its debt while raising, say, half the funding gap in shares at a 40% discount to Turquoise Hill’s current C$42 price would dilute Pentwater from 15% to 10%, on Breakingviews calculations. The viability of renegotiating the borrowing terms is controversial, however. If Rio had to raise the full $3.6 billion at a shrunken C$20 a share and Pentwater once again declined to participate, its stake would slump to 5%.
Given the buyout mess, Stausholm may regret not opting for a rights issue at the onset. It was always apparent Pentwater might have Rio over a barrel. The battle has damaged Rio’s board. With minimal net debt, the miner had enough cash to buy more Turquoise Hill equity.
Even so, it’s easy to see why Stausholm took a chance. Acquiring the other 49% of Turquoise Hill is the only way to truly simplify Oyu Tolgoi. If the roster of pesky investors simply sold their rights, Rio might have wound up with even more difficult partners, while still having to deal with an independent board.
Those factors may save the Rio CEO if he loses the takeover vote, but a failed buyout could still put pressure on Bold Baatar, the head of copper. He played a key role in negotiating the recent deal with the Mongolian government. At the same time, in a potential sign of where the blame might fall, only Baatar was included in the company’s Nov. 18 press release ending the ill-fated side deal with investors, whereas Stausholm appeared alongside Baatar in the September offer announcement.
The wider lesson is not that developing-world mining projects are fraught with difficulty; they are what big miners like Rio do. Rather, the episode illustrates the need for a leader with the wits and the gall for roulette. Rio shareholders soon will see just how well Stausholm plays.
Follow @gfhay and @karenkkwok on Twitter
 
 
 
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S.Korea's fast-food chain Lotteria opens 3rd store in Mongolia www.kedglobal.com

Lotte GRS, the food affiliate of Lotte Group, said on Thursday that it opened its third Lotteria restaurant in Ulaanbaatar, Mongolia, last Friday.
Lotteria Mongolia’s newest store was opened near the Zaisan Memorial in the south of the capital city..
The opening of a Lotteria store is the first in three years since the opening of the second one in 2019.
Lotte GRS previously signed in 2017 a master franchise agreement with Eugene Tech Mongolia LLC, a local company, opened its first store in 2018, followed by a second one in 2019.
A company official explained that the recent popularity of Lotteria food in Mongolia led to the opening of a third store. According to Lotte GRS, Lotteria sales in Mongolia increased by more than 70% until November this year from the same period last year.
The same official added, "We will accelerate our search for new markets as our effort slowed down due to the COVID-19 pandemic while adding more locations in existing countries."
Write to Kyeong-je Han at hankyung@hankyung.com
 
 
 
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Horseback protesters gather on central square in Mongolia’s capital www.tass.com

ULAANBAATAR, December 8. /TASS/. About 1,000 people gathered to protest on the central square in the Mongolian capital of Ulaanbaatar on Thursday, the fifth day of protests, a TASS correspondent reported.
This time, horseback riders from various regions of the country joined the rallies. Police officers asked the newcomers to leave as the city’s mayor had banned horseback riders from entering the central square. "We haven’t come here to wreak havoc, we have come to show that the country’s regions support the protest movement. We want to meet with government officials and make our voice heard," the horsemen said. According to them, about two hundred more riders are expected to arrive in the capital from various regions of Mongolia.
The first participants in the horseback rally moved to a nearby park for the time being. Mongolia’s Public Radio reported that law enforcement officers had begun to detain horsemen at the entrances to the city, denying them entry.
A protest rally triggered by dissatisfaction over an investigation into a case on coal exports to China bypassing customs control broke out in the Mongolian capital on December 4. Demonstrators demanded to name the suspects, claiming there were high-ranking officials among them. On December 5, protesters tried to storm the Government Palace. On December 7, the Mongolian prime minister announced the creation of a working group to investigate the case, which will include up to 100 protesters along with government officials.
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ION Energy touts ‘impressive' drill results at its Urgakh Naran lithium brine project in Mongolia www.kitco.com

ION Energy (TSXV: ION), Mongolia’s first lithium brine explorer and developer, said today that it is “extremely pleased” with the drilling results obtained from the recently completed exploration diamond core drilling program at the Urgakh Naran lithium project in Mongolia.
In its press release, ION Energy reported that the company has successfully completed the drilling of three lithological diamond core drill holes for a total depth of 954m.
The company highlighted notable two metre drill core results, including 123m at 278ppm lithium from 122m, with maximum lithium reported at 832ppm over 2m (UNDH-01); 100m at 362ppm lithium from 65m, with maximum lithium at 601ppm over 2m (UNDH-02); and 71.4m at 360ppm lithium from 3.6m with maximum lithium at 911ppm over 2m (UNDH-03).
The company also said it has completed drilling of two hydrological test wells for testing of basin brines, adding that the third test well is currently being completed.
CEO and Director Ali Haji stated, “The company is extremely pleased with the drilling results obtained from the recently completed exploration diamond core drilling program. Results have indicated a lithium pregnant basin with significant potential for insitu brine at relatively shallow depths. The company is now completing its third hydrological test well with brine sampling to commence across all three wells in the coming months.
“The Urgakh Naran Basin is over 17,000 ha in size and is showing the potential to host significant brine accumulations in close proximity to the national electric grid and critical development infrastructure.”
ION Energy is committed to exploring and developing Mongolia’s lithium salars, which includes the Baavhai Uul and Urgakh Naran project. ION indicated that its flagship 81,000+ hectare Baavhai Uul lithium brine project represents the largest and first lithium brine exploration licence awarded in Mongolia.
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“Erdenes Tavantolgoi” JSC Exports 108.1 Thousand Tons of Coal www.montsame.mn

According to “Erdenes Tavantolgoi” JSC, 108,123 tons of coal were transported from the company’s deposit by 1052 vehicles between 00:00 and 24:00 on December 7. This is the highest performance of coal shipment in one day since the company was established.
It has been more than a month since the government appointed Special Plenipotentiary Representative to “Erdenes Tavantolgoi” JSC to make the company’s activities transparent and open and to make a plan to increase consignment and sales.
Special Representative J. Ganbat, appointed by the government at the company, announced that “Erdenes Tavantolgoi” JSC has sold 4.2 million tons of coal worth USD 369.5 million in the past. Thereof, 2.3 million tons of coal worth USD 205 million were sold last November, and 1.5 million tons of coal were exported through the Gashuunsukhait border checkpoint. The company sold USD 143 million to the Bank of Mongolia.
The company announced that it will collect the outstanding payments in a short period and no more offtake contracts will be made as it puts strain on the currency reserve of the country.
 
 
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Public Hearing on Coal Theft Allegations to be Organized www.montsame.mn

The Standing Committee on Economy of the State Great Khural will organize a public hearing on the issues of coal shipment and export on December 21.
The public hearing will be held on the following topics:
Offtake agreements established by “Erdenes Tavantolgoi” JSC that included payment terms of making payments by mineral resources and raw materials and were made in advance and already used;
The enterprises that mined coking coal in the country and the amount of the output;
The enterprises that transported coking coal and their revenue;
Detailed information on the coking coal exported through all border checkpoints of Mongolia.
The hearing will also include the following:
The issues of the excessive difference between the cost of coking coal on the international market, Mongolia’s export price, and China’s price;
Whether the difference creates the conditions for corruption and tax evasion by certain persons in both countries;
How and how much funding was mobilized for the Tavantolgoi-Zunbayan and Tavantolgoi-Gashuunsuhait railway construction projects by the “Erdenes Tavantolgoi” JSC;
The cost of building each 1 km of these railways.
The public hearing will be chaired by Member of the State Great Khural S. Chinzorig.
 
 
 
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