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

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Events

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

NEWS

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Inflation in Mongolia to reach 8% in 2023 www.akipress.com

The Mongolian budget for 2023 was finally approved by the parliament on November 11.
The government spent 18 trillion tugriks (more than $5.28 billion) in 2022, while state budget expenditures for 2023 were approved at 21 trillion tugriks (more than $6.16 billion).
"The Parliament approved the Mongolian budget for 2023. If the state budget of 2022 is aimed at overcoming the pandemic, then 2023 will be the year of economic stabilization. The economic growth will reach 5%, and inflation will drop to single digits," Prime Minister Oyun-Erdene Luvsannamsrai said on his Twitter page.
The inflation is expected to reach the medium-term target of 8%.
 
 
 
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Dayton’s Mike Sharavjamts is a freshman making history for Mongolia www.sbnation.com

You wouldn’t know the eyes of an entire nation were on Mike Sharavjamts. The 6’8” true freshman for the Dayton Flyers caught a pass right in front of Lindenwood’s bench mere seconds into the Flyers debut game of the 2022-23 season, raised up, and hit nylon.
Sharavjamts, ranked as this year’s No. 91 overall recruit per 24/7 Sports, finished with a totally respectable 10 points, five assists, and three rebounds in his first college game. For his thousands of fans across the world, the confident debut was cause to celebrate. Sharavjamts is the first Mongolian athlete to earn a Division 1 scholarship, and he’s just the second true freshman to start for Dayton in a decade.
In attendance was Mike’s father Sharavjamts Tserenjankhar, better known as Shark. Shark was a star in local leagues in Ulan Bator at 7-feet tall until he was discovered by former LSU coach Dale Brown (who also discovered a 12-year-old Shaquille O’Neal at a German military base). Brown thought Tserenjankhar could be one of the best players in college basketball, until he found out he was 27. Instead, Tserenjankhar signed a contract with the Harlem Globetrotters and became the first professional basketball player from Mongolia.
Basketball has slowly been growing in popularity in Mongolia in the decades since. A recent estimate claims that 20,000 kids are playing organized basketball in the capital now. Three-on-three is the preferred format; the Mongolian men’s team has finished in the top 10 in two of the last three FIBA 3x3 World Cups, and the women’s team qualified for the 2020 Summer Olympics.
All that buzz means that Mike Sharavjamts has more fans than your average mid-major freshman. There’s the Dayton Flyers Mongolian Fans Facebook page with 15,000 followers. A major Mongolian news network flew a film crew to Ohio to make a documentary about him, the trailer got 250,000 views.
The attention seems well warranted. Through exhibitions and his first real game Sharavjamts has shown deft handles and a solid outside shot for someone his size. But his most impressive trait has been his passing ability and playmaking. On several occasions in the season opener, Sharavjamts brought the ball up the court and created offense himself, either by driving to the rim, kicking out to a shooter beyond the arc, or posting up and forcing defensive help.
The Flyers just barely missed the NCAA Tournament last season, and are entering the 2022-23 campaign ranked, with aspirations of a deep run for the first time in 9 years. With a potential young star on hand, they might just make that leap.
 
 
 
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Mongolia stay undefeated, Malaysia finally chalk up win no. 1 www.fiba.basketball

Mongolia added to Vietnam's woes, 88-77, to stay perfect in the FIBA Asia Cup 2025 Pre-Qualifiers, Sunday night at the UG Arena.
Buoyed by an ecstatic sellout crowd once more, the hosts bucked a slow start before gaining enough steam to break away in the final period en route to their third win in as many outings while dealing their foes back-to-back losses.
Another balanced attack made wonders for the home team, led by the 17 points and 6 rebounds of Enkhbayasgalan Amarbayasgalan.
Enkhbaatar Onolbaatar made 16 points and 7 boards. Bilguun Battuvshin had 15 points, captain Sanchir Tungalag produced 12 markers, 7 caroms, 6 dimes, and 2 steals, as Boldbaatar Bat Erdene chipped in 10 in the win.
Amarbayasgalan and Onolbaatar, together with Anand Ariunbold, helped Mongolia to a 70-60 lead early in the fourth quarter. Their lead would eventually rise to 12 points, 82-70, thanks to Erdene with 3:16 left to play.
The Mongolians' victory served as a prelude to their highly-anticipated encounter with Thailand in a battle of 3-0 teams on Monday night.
Vietnam's loss, on the other hand, wasted the performances of Huynh Phu Vinh Nguyen and Khoa Dang Tran that saw them score 28 and 20, respectively.
The Southeast Asian squad dropped to 1-2 and will look to bounce back against another 1-2 team in Malaysia, who overcame a sluggish start to keep the free-falling Tahiti winless, 70-62, for their breakthrough win earlier.
Wong Yi Hou led the way with 27 points, 21 of which he made in the second half as he helped the Southeast Asian crew turn its fortunes around after scoring just a measly 8 points in the game's first 10 minutes while their foes had 20.
The national team veteran gave the Malaysians the lead for good through a three-point play conversion to end the third quarter, and was also responsible in pushing their lead to 70-59 through a jumper with only 2:07 left to play.
His efforts saved the contributions of Ting Chun Hong, Kuek Tian Yuan, and Zhen Jie Tem in the second canto, where they brought themselves back into the game by way of a 28-point explosion to enter the break behind narrowly.
FIBA
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30 million trees planted with seeds www.montsame.mn

Within the “One Billion Trees” national movement framework, Ulaanbaatar city plans to plant 120 million trees, 55 million trees for reforestation and rehabilitation on 12 million hectares of land, and 65 million trees designed for the apartment building areas of the city.
In the arrangement of public-private partnership, the city office will cooperate with 15 enterprises to start tree breeding on 6 hectares of land and to cultivate more than 110 species of trees, bushes, natural perennial plants, and ephemeral flowers of 25 types. According to the Capital City Training, Research, and Public Relations Agency, 30 million trees and bushes were planted with seeds this year.
The department also introduced the work carried out within the framework of the “One Billion Trees” national movement and the establishment of the “Unity Park” named after the President. The amount of green space per person in the capital is 5.1 square meters. In the program of the action plan of the Governor of the Capital City, it is planned to increase to eight square meters. According to the World Health Organization, the green space in urban areas should be more than nine square meters.
In this regard, 15 million trees will be planted in “Unity Park,” and the rest will be planted for special and limited public needs. The park will be built on 20,480 hectares of land of the Bayanzurkh Khairkhan and is intended to be a unified center for tourism, sports, forestry, and landscaping.
 
 
 
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Ulaanbaatar’s ger district starts moving to renewable energy www.news.mn

In Ulaanbaatar moving to renewable energy is of particular importance to the approximately 200,000 households living in the unplanned “ger” districts, where energy insecurity is a continuing challenge. In winter, coal burning is essential for survival, and often costs ger district families as much USD 400 per year, a huge financial burden considering that 40 percent of residents earn less than USD 90 per month.
Indoor and outdoor coal burning causes serious health issues and is a significant contributor to Mongolia’s carbon emissions. A project to install solar electricity in these homes would produce substantial emissions reductions with cascading social benefits that could be paid for by selling carbon credits.
But there were no simple tools or market platforms to price confirmed local emissions reductions and match them to our own desired investment in carbon offsets. The reality is that carbon markets are difficult to navigate, especially for small-scale buyers and sellers of carbon credits. For sellers, the system for auditing claimed carbon reductions and certifying carbon credits is costly, bureaucratic, and nearly impossible for small projects due to the need for in-person audits and in-depth reviews by an accredited agency. For buyers of carbon credits, the beneficiary of one’s purchase and how they will use the funds is often obscure.
One group that stood out was a start-up called URECA LLC. This young climate-tech company was founded by a team of Mongolians who combine expertise in renewable energy systems, computer engineering, sustainability, and other fields with a passion for climate change solutions. The URECA team has developed a mix of technologies that will enable small-scale and even household-level actors to produce verified carbon credits without the complex and costly accreditation that can stymie small projects.
Their solution combines AI-based technology that verifies renewable energy generation, both solar and wind, through data collected from smart meters, with a blockchain system to link carbon credits to specific producers and keep track of the exchange or retirement of those credits. This clever, cost-effective system will generate high-quality carbon credits, even for energy micro-producers, that will be linked to a URECA marketplace where they can be bought and sold. You can find more details about the system on the URECA website.
Initial baseline assessments suggest that each family will cut their yearly carbon emissions by 10–20 tons and reduce their energy costs by up to 70 percent. A significant question that this pilot seeks to answer is how highly the market will value URECA’s household carbon credits. If these households achieve the low-end target of USD 80 per ton, they can earn between USD 800 and ISD 1,600 per year producing and selling carbon credits, in addition to saving hundreds of dollars on energy costs. This will significantly improve their quality of life, while demonstrating a pathway to reducing the harmful levels of air pollution that afflict Ulaanbaatar every winter.
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Mongolia approves 2023 state budget with MNT 1.4 trillion of deficit www.news.mn

Mongolia’s parliament, the State Great Khural, approved the 2023 state budget with a deficit of MNT 1.4 trillion (USD 411.6 million).
In the state budget, revenue is projected to be about MNT 19 trillion (USD 5.5 billion ), or 34.9 percent of the GDP, and spending is estimated to be around MNT 20.4 trillion (USD 5.9 billion), or 37.6 percent of the GDP.
This is the first state budget since the country’s state austerity law was passed in April.
Within the framework of the austerity law, measures will be taken to keep the budget deficit at the target level, stabilize the economy, and implement budget discipline at all levels next year, said Finance Minister B.Javkhlan.
The Mongolian government expects the economy to grow by about 5 percent and the inflation rate will be reduced to a single-digit level.
Mongolia’s annual inflation rate reached 13.8 percent in September while the rate hit 14 percent in the capital Ulaanbaatar, home to over half of the country’s population of 3.4 million.
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Mongolia pushing coal exports to 70 million tons annually www.news.mn

Mongolia is keen to chip in, shipping 19 million metric tons of coal to China so far this year, according to the National Statistical Office, already exceeding 2021’s 16 million total.
Government officials want Mongolia to surpass the record 37 million tons sent in 2019 and to keep supplying China with a steady stream of coal well into the next decade.
The value of Mongolia’s coal exports jumped to USD 4.5 billion in the first nine months of 2022, almost triple what they were over the same period last year.
Ulaanbaatar finished a 233-kilometre (145 mile) rail line from the Tavan Tolgoi mine to the Gashuun Sukhait border in September, a project that took 14 years to complete.
Mongolia is pushing coal exports to 70 million tons annually, possibly by 2025.
Coal deliveries and exports will remain as one of the major sources of revenue for the government and there are no other sources that can replace this fiscal need.
 
 
 
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Rio Tinto’s long-awaited deal comeback is stuck in limbo www.mining.com

Mining giant Rio Tinto Group is finding that its long-awaited return to cutting a major deal without the brash spending of its past is proving a challenge.
Its more than $3 billion bid to buy the rest Turquoise Hill Resources Ltd. and boost its exposure to a massive copper deposit in Mongolia has effectively been put on hold. Rio struggled to win investor support, forcing it to offer unusual terms to the most stubborn holdouts which appeared to be enough to close the deal.
But within days, Canadian regulators took issue with the side deal, compelling Turquoise Hill to postpone the shareholder vote.
M&A is a sensitive subject at Rio. Disastrous deals more than a decade ago almost sunk the company, cost a former CEO his job and led to regulatory probes. Yet there’s a recognition within the world’s No. 2 mining firm that those issues have cast a shadow for too long.
Rio’s September offer to buy out the 49% stake in Turquoise Hill it doesn’t already own — at improved terms from a bid earlier in the year — makes a lot of sense for a return to major dealmaking.
It would allow the company to consolidate control over the Oyu Tolgoi copper mine, which could become one of the world’s biggest. The metal is among Rio’s favored commodities and an essential part of the global green push — and once the underground component of the mine is completed, it would help the producer to close the gap on its biggest copper rivals.
Plus, a deal earlier this year with the Mongolian government removed much of the political risk around Oyu Tolgoi. Crucially, a deal would also show that CEO Jakob Stausholm can secure growth without destroying shareholder value.
“Rio is not as diversified as its peers and the ability to grow away from iron ore just isn’t there without deals,” Liberum analyst Ben Davis said. “If you’re struggling to do deals like this it doesn’t bode well.”
Shareholder deal
Despite winning board approval for the September offer, Pentwater Capital Management LP and SailingStone Capital Partners LLC — which combined hold about 16% of Turquoise Hill’s outstanding stock — opposed the deal on the grounds that it undervalues Turquoise Hill. An influential advisory firm also echoed that view.
Rio countered that by warning that if Turquoise Hill shareholders didn’t accept the offer, they faced having to stump up billions in the next two years to fund Oyu Tolgoi’s development.
With Rio facing defeat, it got the vote pulled at the last minute. It then struck a side deal with SailingStone and Pentwater where the two investors agreed to withhold their votes in exchange for C$34.40 per share — well below the C$43 offer price — with an arbitration process to decide a final price.
The move meant the holdout investors wouldn’t have to back down while allowing the deal to go ahead, all without Rio raising its bid and also avoiding a massively diluted rights issue.
It did however anger some minority shareholders who felt SailingStone and Pentwater would get a sweeter deal. Bahamas-based Caravel Capital lodged a complaint with Quebec’s securities regulator and Caravel fund manager Jeff Banfield said other, larger shareholders made similar complaints.
Faced with investor pressure, Quebec’s securities regulator asked Turquoise Hill to delay the acquisition vote indefinitely as it studies whether the agreement is legal, injecting fresh uncertainty into the deal.
Best offer
Rio has repeatedly said it has made its best and final offer for Turquoise Hill. Rio insiders say the view inside the company is clear that its credibility would suffer if were to raise its bid.
Disastrous past deals highlight the importance of that credibility.
At the height of the commodity supercycle in 2007, Rio entered a bidding war with Vale SA and Alcoa Inc. for Canadian aluminum maker Alcan Inc. It blew them both out of the water with a $38 billion cash offer that sent its debt spiraling. Described as the worst deal in mining history, it soured as aluminum demand slid during the global financial crisis and Chinese supply flooded the market.
It forced Rio to take almost $30 billion in writedowns and ultimately cost the CEO at the time his job.
Then in 2011, Rio bought Mozambique coal producer Riversdale Mining Ltd. for $3.7 billion in a rushed deal. But it failed to develop the project as planned and the unit was sold for $50 million following huge impairments.
Rio has spent much of the past decade appeasing shareholders with record dividends as it focused on making cash from its sprawling iron ore mines. Yet new Chairman Dominic Barton has said the M&A reluctance has come at a cost.
Many good suggestions from within the company have been missed over fears of investor backlash, he said last month, adding that the board would be involved in dealmaking going forward.
(By Thomas Biesheuvel and Jacob Lorinc)
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Rio Tinto’s takeover of Turquoise Hill indefinitely on hold as Quebec regulator steps in www.mining.com

Canada’s Turquoise Hill Resources (TSX: TQR) is indefinitely postponing a shareholders vote on the proposed $3.3 billion takeover of the company by Rio Tinto (ASX, LON: RIO) as Quebec’s top securities regulator has decided to review the transaction.
The Montreal-based miner said the Autorité des marchés financiers (AMF) is investigating whether a side deal between Rio Tinto and dissident shareholders is legal.
“The AMF considers the transaction as currently structured to raise public interest concerns,” the company said on Wednesday.
Minority shareholder CaravelCapital Investments said last week the agreement inked by Rio Tinto, Pentwater Capital Management and SailingStone Capital Partners gives dissidents preferential treatment over smaller holders.
Caravel filed complaints with both the Ontario Securities Commission and the AMF on fairness grounds, The Globe and Mail reported.
The fresh delay adds another layer of uncertainty over the deal that would grant the Rio Tinto direct ownership of the giant Oyu Tolgoi copper-gold mine in Mongolia.
Under the deal, both investors would be paid out 80% of the takeover amount being offered to all Turquoise Hill shareholders and, after a ruling from an arbitrator, the remaining 20% plus interest, and potentially much more.
The two firms, which had both openly opposed to the acquisition of Turquoise Hill by Rio, agreed to sit out the shareholder vote originally scheduled for Nov. 1, then moved up to Nov. 8 and again to Nov. 15 on Tuesday.
Differential treatment of shareholders
With the decision now to be made at a “date to be determined”, Turquoise Hill is holding talks with Rio representatives to address what it qualifies as “differential treatment of minority shareholders” and if an agreement that satisfy the committee is reached it would update markets.
Rio Tinto has had a rocky relationship with Turquoise Hill, particularly over how to fund Oyu Tolgoi’s expansion. The mining giant has also drawn criticism from some of Turquoise Hill’s minority shareholders about the control it exerts over the company.
The Melbourne and London-based firm, which has mined copper from Oyu Tolgoi’s open pit for a decade, and the Mongolian government ended earlier this year a long-running dispute over the $7 billion expansion of the mine.
Once completed, the underground section of Oyu Tolgoi will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come on stream in several years.
“Rio Tinto’s strategy over its stake in Turquoise Hill has been subject to discussion for many years, but we didn’t think it would end up offering to buy out the minorities based on previous form,” BMO Metals and Mining analysts said in a note to investors.
“Given the dearth of copper opportunities elsewhere, combined with its recently lowered risk profile, perhaps increasing its Oyu Tolgoi exposure now makes sense,” BMO Alexander Pearce and David Gagliano wrote in September.
Rio Tinto chief executive Jakob Stausholm has said the proposed takeover would simplify governance, improve efficiency and create greater certainty of funding for the long-term success of the Oyu Tolgoi project.
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Mongolia’s major debut www.news.mn

The road to the FIBA Asia Cup 2025 continues as the teams in Groups C and D of the Pre-Qualifiers spring into action. There’s plenty to watch for whether it’s the storylines, the teams, and players that will be on display from 10-14 November.
The Pre-Qualifiers marks an important appearance by Mongolia for the first time at the regional level. They’ve played in several East Asia Basketball Association (EABA) Championships in the past and have had some decent performances in the Asian Games, but this will be their first time playing at the regional level in a FIBA competition.
Don’t make the mistake of thinking that Mongolia are only here to be in attendance either. Basketball is becoming more and more a major sport in Mongolia with many big-time fans. That’s why it will be interesting to see them root for their team at the UG Arena as the players go up against the likes of Malaysia, Thailand, Vietnam, and Tahiti.
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