TMK Energy appoints U.S. private equity veteran Steve Skinner as COO to drive Mongolian gas project www.tipranks.com

Story Highlights

• TMK Energy appointed experienced U.S. petroleum engineer and investor Steve Skinner as chief operating officer to strengthen leadership for its Gurvantes XXXV coal seam gas project in Mongolia.
• Skinner’s 25-plus years in unconventional oil and gas and performance-linked pay aim to boost gas production, capital efficiency and shareholder-aligned growth as TMK advances toward commercialisation.

TMK Energy has appointed U.S.-based petroleum engineer and private equity energy executive Steve Skinner as Chief Operating Officer, strengthening its operational leadership as it advances the Gurvantes XXXV coal seam gas project in Mongolia. Skinner, a recent cornerstone investor in TMK, will focus on boosting gas output and capital efficiency, particularly through re-completions across the company’s seven pilot wells.

With more than 25 years of oil and gas experience, including work in the San Juan Basin and early horizontal drilling in the Eagle Ford Shale, Skinner brings deep expertise in unconventional reservoirs and advanced completion technologies. His remuneration is structured to be highly leveraged to TMK’s success, aligning management and shareholder interests as the company moves from early appraisal toward commercial production and seeks to maximize returns from its discovered gas resource.

More about TMK Energy Limited

TMK Energy Limited is an Australia-listed energy company focused on coal seam gas exploration and development, with its primary asset being the 100% owned Gurvantes XXXV CSG project in Mongolia. 
The company targets early-stage unconventional gas assets, working to transition them from appraisal to commercial gas production while emphasizing capital efficiency and reservoir optimization.

Erdene stock tracks latest resource update as Mongolia gold project advances www.ad-hoc-news.de

Erdene stock reflects ongoing progress at the Bayan Khundii gold project in Mongolia, with recent reserve and resource figures and past financing rounds shaping the current valuation context for retail investors.

Erdene Resource Development Corp. (ISIN CA29188Y1007) is a Canada-listed junior miner focused on gold projects in Mongolia, with Erdene stock providing investors exposure to the Bayan Khundii and related exploration licenses. The company trades on the TSX under the symbol ERD, giving investors a pure-play on Mongolian gold development alongside a wider universe of small-cap mining names in Toronto. In recent years, Erdene has advanced the Bayan Khundii gold project through resource delineation, feasibility-level work, and financing moves designed to position the project for eventual production. While the latest detailed financial and market data are not fully visible here, Erdene stock continues to be anchored by previously reported reserve and resource metrics from the company’s official investor materials on its dedicated investor relations page at Erdene Resource investor relations.

Project scale and resource base
The Bayan Khundii gold project has been characterized in Erdene’s past technical disclosures as a high-grade open-pit deposit within the Khundii Gold District in southwest Mongolia, forming the core asset that underpins Erdene stock’s long-term narrative. According to the company’s public technical and investor information as aggregated on its investor relations hub, the Bayan Khundii project has been presented with a substantial gold resource and reserve base expressed in millions of tonnes and grams per tonne grades, as well as contained ounces of gold, to support an economic assessment and feasibility-level evaluations. These figures have historically served as the backbone for Erdene’s valuation story, with higher grades and favorable strip ratios presented as potential drivers of project economics compared with many other junior gold projects in frontier jurisdictions.

Previously published economic assessments for Bayan Khundii, summarized through Erdene’s materials, have noted multi-year mine life projections and annual production profiles measured in tens of thousands of ounces of gold per year. Such production scenarios, when combined with capital cost estimates expressed in the tens of millions of US dollars and operating cost estimates in dollars per ounce, have historically fed into discounted cash flow models used by analysts and mining-focused investors to assess Erdene stock. Importantly, past iterations of these economic models have often emphasized the sensitivity of project value to gold prices, highlighting how incremental increases or decreases in the commodity price can materially move the net present value and internal rate of return metrics, both of which have appeared in earlier technical summaries.

Funding history and capital structure
Erdene has used equity financings and strategic investments over the years to advance its Mongolian assets, issuing shares on the TSX to fund drilling campaigns, feasibility studies, and permitting work. Historical financing rounds, described through Erdene’s investor communications, have involved raising several million Canadian dollars at various issue prices per share, resulting in a growing share count and a small-cap market capitalization typically measured in the tens of millions of Canadian dollars. These capital raises have diluted existing shareholders but also enabled Erdene to progress Bayan Khundii and adjacent prospects without resorting to excessive project-level debt at an early stage, which is often considered prudent for junior explorers operating in frontier jurisdictions.

Past Erdene investor materials have also referenced participation by strategic or institutional investors in some of these financings, highlighting confidence in the Mongolian gold story and providing external validation for the company’s exploration results and project development path. In addition, disclosure on share ownership patterns has indicated the presence of management and board-level holdings, aligning leadership interests with those of public shareholders and shaping governance considerations for Erdene stock. While precise share counts and ownership percentages fluctuate over time, the overall narrative remains that Erdene has built its capital base progressively through public offerings and strategic placements, using the funds to expand its resource base and advance key project milestones.

Operational progress and project milestones
Operationally, Erdene has reported a sequence of milestones at Bayan Khundii and nearby prospects, including drilling campaigns, resource updates, and permitting steps, each communicated through news releases and technical reports linked from its dedicated investor portal. Drilling campaigns have added new holes and meters drilled, with assays showing grades and widths that at times exceeded earlier expectations, leading to updates in resource estimates. These resource updates have often been presented in terms of indicated and inferred categories, with tonnage and grade figures revised as additional data improved geological understanding. For Erdene stock, each milestone has contributed to the market’s perception of project risk and upside, with strong drill results and resource growth historically viewed as positive signals for future value creation.

In terms of permitting, Erdene’s disclosures have addressed interactions with Mongolian regulators, environmental assessments, and community engagement processes necessary to move Bayan Khundii toward construction readiness. Environmental and social impact studies have been summarized as part of the project documentation, outlining potential impacts and mitigation strategies. These steps are critical in frontier mining jurisdictions, where regulatory frameworks and local conditions must be navigated carefully. For investors following Erdene stock, progress on permitting and stakeholder engagement is as important as pure resource growth, since permitting risk can materially affect timelines and the probability of achieving production.

Cost considerations and economic sensitivity
Cost structures at the Bayan Khundii project, as reflected in earlier technical summaries and economic assessments accessible through Erdene’s investor materials, have been discussed in terms of initial capital expenditure, sustaining capital, and operating costs per ounce. Initial capital costs have been depicted in the tens of millions of US dollars, covering plant construction, infrastructure, and pre-stripping activities. Operating costs, expressed as dollars per ounce of gold produced, have been modeled with assumptions about labor, energy, consumables, and logistics specific to the Mongolian context. These cost estimates, combined with gold price assumptions, have produced ranges of net present value and internal rate of return, which are central to the investment case for Erdene stock.

Economic sensitivity analyses in these documents typically demonstrate how changes in gold price, capital cost, operating cost, and discount rates influence project economics. For instance, a scenario with gold prices moderately above base-case assumptions can significantly increase project net present value and internal rate of return, making the project more attractive relative to other junior gold opportunities. Conversely, higher capital or operating costs can compress margins and lower valuation metrics. For retail investors assessing Erdene stock, understanding these sensitivities is crucial, as junior mining equities often trade in response to both company-specific news and broader movements in the underlying commodity price.

Exploration upside beyond Bayan Khundii
Beyond Bayan Khundii, Erdene has highlighted a broader exploration portfolio in the Khundii Gold District and other Mongolian licenses, suggesting potential for additional discoveries that could extend mine life or support satellite operations. Past exploration updates have mentioned new targets, geophysical surveys, and geochemical anomalies indicative of further mineralization. Drilling at these targets has aimed to convert exploration potential into defined resources, with initial results at times suggesting continuity of mineralization or new zones of gold-bearing rock. For Erdene stock, such exploration upside provides optionality beyond the core Bayan Khundii project, as successful discoveries could alter project scale and economic metrics in future technical studies.

Exploration in frontier jurisdictions like Mongolia also involves logistical, regulatory, and environmental considerations. Erdene has described working with local communities and authorities to conduct exploration activities responsibly, emphasizing compliance with local laws and efforts to minimize environmental impact. These factors are relevant for investors who weigh environmental, social, and governance criteria alongside financial metrics when considering junior mining equities. Erdene’s ongoing exploration narrative, combined with its development work at Bayan Khundii, thus contributes to the overall risk-reward profile associated with Erdene stock.

Commodity price environment and market context
The broader gold price environment plays a significant role in shaping sentiment and valuation for Erdene stock, as for other gold-focused junior miners. When gold prices trend higher, investors often allocate more capital to producers and developers, including companies with high-grade, relatively low-cost projects like Bayan Khundii. In periods of lower or volatile gold prices, funding conditions for juniors can become tighter, and market valuations may compress, reflecting concern about project economics and financing risk. Historical periods of strong gold prices have corresponded with increased investor interest in exploration and development stories, bolstering liquidity and share price performance in many junior mining names.

Erdene’s positioning as a Mongolian-focused junior miner adds an additional layer of jurisdictional risk and opportunity. Mongolia has attracted interest from international mining companies due to its mineral endowment, but investors also monitor regulatory developments, tax regimes, and infrastructure availability closely. Erdene’s ability to navigate this landscape, as documented in its project and corporate disclosures, contributes to investor confidence. Comparisons with peers operating in similar jurisdictions can help contextualize Erdene’s risk profile; some investors may perceive frontier exposure as a chance for outsized returns if projects successfully reach production, while others may prefer lower-jurisdiction-risk metals plays in more established regions.

Balance sheet, cash position, and liquidity
While specific up-to-the-minute numbers for Erdene’s cash position and balance sheet are not fully detailed here, the company’s historical disclosures have featured cash balances and working capital figures measured in the low millions of Canadian dollars following financing rounds. These cash resources have been allocated to exploration, feasibility work, and corporate overhead, with budgets set out in investor presentations and technical planning documents. For Erdene stock, adequate cash reserves relative to planned expenditures are important, as funding gaps can necessitate additional equity raises, potentially diluting existing shareholders.

Liquidity in Erdene stock on the TSX has historically been modest compared with large-cap miners, with daily trading volumes reflecting its small-cap status. This liquidity profile can influence how easily investors can enter or exit positions, particularly in response to news events or shifts in gold prices. Share price volatility in junior miners like Erdene often reflects both fundamental developments and trading dynamics, with wider bid-ask spreads and episodic volume spikes around significant announcements. Investors assessing Erdene stock typically consider these liquidity characteristics alongside fundamental project metrics when deciding on position sizes and risk tolerance.

Corporate governance and management
Erdene’s leadership team and board of directors bring experience in mining, exploration, and capital markets, as described in the company’s corporate governance material available through its investor relations portal. Biographical details for executives and directors highlight prior roles at other mining and resource companies, involvement in project development and financing, and expertise in Mongolia or similar jurisdictions. This management and board profile is an important qualitative factor for investors, as execution on exploration, permitting, and construction plans depends heavily on leadership capability.

Corporate governance disclosures also address oversight structures, committees, and policies including audit, compensation, and risk management. For Erdene stock, strong governance frameworks can mitigate certain non-geological risks and support investor confidence, particularly in frontier jurisdiction projects where external uncertainties may be higher. Historical communication patterns, such as the frequency and clarity of news releases and technical updates, also contribute to perceptions of transparency and responsiveness. Consistent and thorough disclosure helps investors track project progress and evaluate whether milestones are being met in line with stated timelines.

Environmental and social considerations
As with many mining projects, environmental and social considerations are integral to the Bayan Khundii development narrative. Erdene’s past disclosures have referenced environmental impact assessments, mitigation plans, and community engagement efforts designed to address potential impacts on land, water, and local livelihoods. These documents outline monitoring frameworks and commitments to compliance with host-country regulations, reflecting the company’s approach to responsible resource development. For Erdene stock, environmental and social performance can influence investor perception and access to certain pools of capital, particularly as ESG-focused funds increasingly scrutinize mining investments.

Community relations in the Khundii Gold District are also highlighted in Erdene’s narrative, with mentions of dialogue and collaboration with local stakeholders. Initiatives may include employment opportunities, training programs, and support for community projects tied to the gradual development of mining operations. Retail investors evaluating Erdene stock may factor such elements into their assessment of long-term project sustainability and risk, alongside purely financial metrics. Positive community relations can reduce the likelihood of disruptions and strengthen the social license to operate, which is especially important in jurisdictions where resource projects may be sensitive or closely watched by public and governmental actors.

Bayan Khundii as core product
Bayan Khundii functions as Erdene’s core product in an investment sense, representing the primary asset around which Erdene stock’s value proposition revolves. The project’s gold reserves and resources, projected production profile, and economic metrics collectively form the foundation of the company’s narrative to the market. In investor presentations and technical summaries, Bayan Khundii is often portrayed as a potentially profitable mine development, with high-grade mineralization and manageable capital requirements relative to many larger, more complex projects. This characterization aims to position Erdene as a viable developer capable of transitioning from exploration to production within a realistic timeframe once permitting and financing are in place.

For retail investors, Bayan Khundii offers a tangible focus point when considering Erdene stock, as they can track project milestones such as drilling results, resource updates, feasibility-related studies, and steps toward construction readiness. Success at Bayan Khundii, including eventual commissioning of operations and delivery of gold production in line with economic models, would validate much of the value currently ascribed to Erdene by the market, while setbacks or delays could prompt reassessment. The project therefore serves as both the primary driver of potential upside and a central source of execution risk.

Erdene stock and trading venue context
Erdene stock trades on the Toronto Stock Exchange, one of the most prominent venues globally for mining and resource equities. The TSX hosts a large universe of gold producers, developers, and explorers, providing a comparative framework for investors assessing Erdene’s valuation relative to peers. In this context, Erdene’s small-cap status and focus on a single core project in Mongolia differentiate it from multi-mine producers and diversified explorers. Some investors may be drawn to the concentrated exposure and potential for value creation as Bayan Khundii advances, while others may prefer more diversified exposure to reduce single-asset risk.

Trading on the TSX also enables Erdene to access Canadian capital markets, including both retail and institutional investors familiar with resource-sector dynamics. The exchange’s listing standards and disclosure requirements contribute to transparency, as companies must provide periodic financial statements and material project updates. For Erdene stock, compliance with these standards ensures a baseline of information for investors, supplemented by more detailed technical reports and project-specific communications available through the company’s investor relations channels.

Stock closing context
At present, specific intraday price levels, market capitalization figures, and recent percentage moves for Erdene stock are not drawn into this text, as they would require precise, timestamped data that is beyond the scope of this narrative. Instead, investors analyzing Erdene can refer directly to its TSX trading page and the company’s investor relations site to see current share prices, volumes, and any new regulatory or corporate filings. Historically, Erdene’s market capitalization has been described in the small-cap range, reflecting its development-stage status, and share price trajectories have responded to both project-specific news and broader gold market trends.

The relationship between share price performance and project milestones remains central to understanding Erdene stock. Positive developments, such as resource growth, favorable feasibility outcomes, or strong financing terms, can support market valuation, while delays, cost pressures, or unfavorable jurisdictional developments can weigh on the share price. For retail investors, monitoring both the TSX quote for ERD and the company’s project-level announcements provides a more complete picture of how fundamental progress is translating into equity market outcomes.

Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

‘Fuel price volatility poses risks to economic stability’ www.ubpost.mn

Mongol Bank has released its second-quarter Monetary Policy Report, outlining the reasoning behind the Monetary Policy Committee’s decisions, the current state of the economy, inflation trends and medium-term economic prospects.

The quarterly report provides an overview of major economic indicators, including inflation, economic growth, financial market conditions, external sector developments and key risks that may affect the economy in the coming period.

According to the report, the Monetary Policy Committee decided to maintain the policy interest rate at 12 percent in order to support price stability, contain inflationary pressures, and create conditions for sustainable economic growth over the medium term.

The bank noted that inflation has risen in recent months, driven mainly by increases in the prices of meat, vegetables and fuel. However, these price increases are considered to be largely caused by supply-side factors. Unless additional major supply shocks occur, inflation is expected to gradually decline from the second half of 2026 and stabilize within the central bank’s target range by 2027.

The report highlighted several factors supporting economic growth. Coal exports have recovered, while increased production in the copper and gold mining sectors has contributed positively to economic activity. In addition, large-scale construction projects and continued growth in bank lending and investment are expected to help sustain economic expansion.

Mongol Bank also emphasized that economic risks remain elevated. Key risks identified in the report include geopolitical uncertainties in the international environment, fluctuations in global fuel prices and expansionary fiscal policy. According to the central bank, sharp changes in global energy prices could increase inflationary pressures, while excessive fiscal expansion may affect macroeconomic stability by creating additional demand-side pressures.

The bank stated that it will continue to closely monitor domestic economic conditions, inflation developments, international market trends, and external risks. The central bank will take appropriate monetary policy measures if necessary to maintain price stability and support balanced economic growth. 

By misheel

Kharakhorum Festival: Mongolia Will Build the Largest 300-Meter Stage in Asia www.open.kg

The Kharkhorum Festival, an important event in Mongolia's cultural life, is launching its fourth chapter titled TIME. The event will take place at the Central Stadium in Ulaanbaatar, allowing for a larger audience and creating a unique atmosphere. Impressive light shows and performances by famous DJs are expected, making the festival unforgettable.

Unmatched Scale and Technology

The main attraction of the festival will be an impressive 300-meter stage—the largest in Asia. The organizers aim to create a unique panoramic space with a 360° view that will combine light effects and interactive media art. Modern audio and video technologies will be used on-site for full audience immersion.

Global Collaboration and Musical Lineup

This year, the festival is collaborating for the first time with Mixmag Lab, a well-known media platform in the electronic music field, elevating the event to an international level. Both famous Mongolian artists and international DJs will perform on stage. Among the headliners are iconic Japanese selectors, adding a special atmosphere to the event.

Theme TIME: Connection of Past and Present

The festival's concept, based on the idea of time, aims to revive the historical heritage of ancient Kharkhorum through modern audiovisual solutions. The organizers intend to connect the past with the future and showcase the richness of Mongolian culture at a contemporary level.

Event dates: August 22–23, 2026

Location: Mongolia, Ulaanbaatar, Central Stadium (National Sports Stadium)

By Ирина Орлонская

Mongolia sees 25.7% rise in foreign arrivals in first half of 2026 www.qazinform.com

The number of foreign nationals entering Mongolia increased by 25.7 percent in the first half of 2026 compared with the same period a year earlier, according to the country’s National Statistics Office, Qazinform News Agency cites Montsame.

A total of 2,075.4 thousand passengers entered the country between January and June, contributing to 4,086.6 thousand border crossings recorded during the six-month period, up 13.7 percent year over year.

Of the inbound travelers, 1,599.4 thousand (77.1%) were Mongolian citizens, while 476,000 (22.9%) were foreign nationals. The number of inbound Mongolian citizens rose 10.9 percent from a year earlier, while foreign arrivals increased by nearly 97,400, or 25.7 percent.

The majority of travelers entered Mongolia through the Zamiin-Uud border crossing, which handled 34.9 percent of all arrivals. It was followed by Chinggis Khaan International Airport with 25.4 percent, Gashuunsukhait with 10.4 percent, Altanbulag with 7.9 percent, and Shiveekhuren with 7.1 percent. The remaining 14.3 percent entered through other border checkpoints.

More than half of all foreign visitors, 55 percent, came from the East Asia and Pacific region, while 39.3 percent arrived from Europe. Travelers from the Americas accounted for 2.6 percent, followed by the Middle East at 1.6 percent, South Asia at 1.3 percent, and Africa at 0.2 percent.

Chinese and Russian nationals made up the largest share of foreign arrivals. Citizens of China accounted for 33.9 percent of inbound foreign passengers, closely followed by Russia at 33.1 percent. Visitors from South Korea represented 11.9 percent of arrivals, while Japan accounted for 3 percent and Germany for 1.9 percent. The remaining 16.2 percent of foreign travelers were from other countries.

Earlier, Qazinform reported Mongolia and the EAEU roll out tariff cuts as the new trade deal takes effect.

By Adlet Seilkhanov

Mongolia breaks ground on first independent institute of international studies www.asianews.network

Construction of the Presidential Institute of International Studies under the National Defense University officially began onJuly 22, 2026. The facility will serve as Mongolia’s first independent national research and analytical center dedicated to national security, defense policy, and international relations.

President U.Khurelsukh attended the groundbreaking ceremony, emphasizing that the institute’s establishment marks a critical new chapter in the advancement of Mongolia’s national security framework, defense studies, and military science.

The institute will focus on strengthening cooperation among state, military, and law enforcement organizations, while also training researchers, specialists, and government officials in these fields.

During the ceremony, relevant government agencies, contractors, engineers, and technical staff were instructed to complete the project on schedule and ensure high construction quality.

By E. Oyun-Erdene

Mongolia, EAEU roll out tariff cuts as new trade deal takes effect www.qazinform.com

An interim trade agreement between Mongolia and the Eurasian Economic Union (EAEU) entered into force on July 22, introducing tariff preferences for 367 categories of goods, according to Mongolia's state news agency Montsame, Qazinform News Agency reports.
Mongolia and the EAEU member states agreed to grant trade benefits and provide exemption from tariffs on 367 product categories under four agreed conditions.

Agricultural and livestock products account for 97.5 percent of the goods covered by the agreement that are exported from Mongolia. Import duties on finished leather, wool, and cashmere products will be eliminated, while tariffs on certain other products will be reduced by 50 percent.

The removal of tariffs ranging from 15 percent to 50 percent on Mongolian exports is expected to provide domestic producers with greater access to international markets and strengthen the country's export competitiveness.

According to preliminary government estimates, the agreement could double Mongolia's exports within three years and generate an additional 150 million US dollars in export revenue.

The interim trade agreement will remain in force beyond the initial three-year period unless either party submits a proposal to terminate it before the agreement expires.

Earlier, Qazinform reported Mongolia and Tajikistan expand bilateral cooperation with new agreements. 

Adlet Seilkhanov

Industrial Production Increases by 55.9% www.montsame.mn

According to the preliminary results for the first half of 2026, total industrial production reached MNT 35.3 trillion, an increase of MNT 12.6 trillion or 55.9% compared to the same period of the previous year.

This growth was mainly driven by a 68.2% (MNT 12.0 trillion) increase in the mining and quarrying sector's output and a 15.4% (MNT 539.8 billion) increase in the manufacturing sector's output.

According to the National Statistics Office of Mongolia, the total production of the mining and quarrying sector reached MNT 29.6 trillion based on the preliminary results for the first half of 2026. This expansion was primarily fueled by a 92.3% (MNT 8.2 trillion) year-on-year increase in metal ore mining and a 46.5% (MNT 3.6 trillion) increase in hard and brown coal mining.

Enkh-Od.G

Seabuckthorn oil standard approved www.ubpost.mn

A proposal to develop an international Codex Alimentarius standard for seabuckthorn oil has been approved as a “new work,” to establish global quality and safety requirements for the product and expand its international market potential. The decision was made during the 49th session of the Codex Alimentarius Commission (CAC) plenary meeting in Geneva, Switzerland, where the proposal submitted by Mongolia was discussed and received support from member countries.

The approval officially launches the process of developing the first international Codex standard for seabuckthorn oil. The future standard will be developed through a science-based process, incorporating technical evidence and contributions from Codex member countries before moving through the organization’s review and approval stages.

The Ministry of Food, Agriculture and Light Industry initiated the work in 2025 with the goal of strengthening the competitiveness of Mongolian seabuckthorn products, promoting exports, and reducing technical barriers that limit access to international markets. The country is one of the world’s recognized producers of seabuckthorn, a nutrient-rich fruit widely used in food, health and cosmetic industries. However, differences in quality requirements and safety regulations across countries have created challenges for producers seeking to expand into global markets. 

The development of a unified Codex standard is expected to provide internationally recognized benchmarks for the quality, safety, composition, and labeling of sea buckthorn oil, helping producers meet global trade requirements and increasing consumer confidence.

The ministry reported that the CAC’s decision represents international recognition of the country’s initiative and creates new opportunities to strengthen the agricultural exports and promote sea buckthorn oil as a competitive value-added product in global markets.

By Misheel

Ulaanbaatar Cable Car Construction Reaches 85 Percent Completion www.montsame.mn

Construction on the Ulaanbaatar Cable Car transport project, which will connect the capital city's Kharkhorin market area with Yarmag, commenced on March 10, 2025. As of today, the overall project execution stands at 85 percent, according to the Governor's Office of the Capital City.

Under the project being implemented along the Artsat-Unur Khoroolol route, 19 support pillars have been installed, and the construction of two stations is currently underway.

The project is being jointly implemented by specialists from France’s POMA Group, alongside teams from "Monnis Engineering" LLC and "Tsagaan Uran Khiits" LLC. The client's supervision is being carried out by the "Integrated Project Management Department," a local government-owned enterprise, and "Maximal" LLC.

Governor of the Capital City and Mayor of Ulaanbaatar Purevdagva Byaruuzana, accompanied by relevant officials, inspected the G1 cable car station. "The testing of the cable car system will begin on September 19, 2026. Following this, the State Commission will evaluate the project from October 20 to November 20, 2026. The overall project completion is at 85 percent, while the construction of the G1 and G2 stations is about 80 percent complete, proceeding according to schedule," stated Mayor Purevdagva. "A successful single-cabin test was conducted during the National Naadam festival. Each cabin can accommodate 10 passengers and has a carrying capacity of 800 kg. Passengers will be able to travel the 4.2 km route between Yarmag and Kharkhorin in just 11 minutes. A total of 98 such cabins will serve the public. With the commissioning of the cable car system, citizens will experience the most modern culture of public transportation."

The cable car system is equipped with a backup generator that activates automatically in the event of a power outage. Furthermore, it features an emergency mode designed to bring all cabins safely to the stations and evacuate passengers in high-risk situations.

Juan Munier, Site Manager of the Cable Car Transport Project, noted: "Throughout the project's implementation, all stakeholders, the Integrated Project Management Department, 'Monnis Engineering', 'Maximal', and POMA's engineering and technical staff have shared a unified vision. We are working together highly effectively, and it is a great pleasure to collaborate with Mongolian engineers. As stipulated in the contract, we will provide training and maintenance services for three years after the project is commissioned. Starting this week, French experts are conducting rescue operation training for professional organizations."

Chief of Staff of the Rescue Unit of the Ulaanbaatar City Emergency Management Department Tsogtbayar M. added, "As the cable car is a completely new mode of transportation being introduced in our country for the first time, we are organizing high-altitude training exercises to build the capacity of our rescue personnel. Although the risk of an accident on the cable car is low, we are ensuring full readiness and training our rescue teams to access the system and operate safely."

By Enkh-Od.G