Mongolia's foreign trade turnover rises over 36 pct in H1 www.xinhuanet.com

Mongolia's foreign trade turnover increased by 36.3 percent year-on-year to 16.5 billion U.S. dollars in the first half of 2026, according to data released by the National Statistics Office (NSO) on Monday.

During the January-June period, the country posted a trade surplus of approximately 4.3 billion U.S. dollars, the NSO said.

The strong growth was largely driven by a surge in mining exports, which accounted for nearly 90 percent of Mongolia's total exports during the six-month period.

Mongolia traded with 150 economies worldwide in the first half of the year.

Among the countries, China remained the country's largest trading partner, accounting for 94.1 percent of Mongolia's exports and 39.7 percent of its imports, according to the NSO.

Jade Gas secures A$1bn funding for coal bed methane gas, LNG development in Mongolia www.miningweekly.com

ASX-listed Jade Gas has executed a non-binding collaboration agreement with a consortium comprising PT Beijing Energy Linking (PTBEL), its lead contractor, and subcontractors PetroChina and Hunan Geology & Mining Technology, which paves the way for Phase 1 drilling of the Red Lake coal bed methane area, in Mongolia.

The collaboration agreement considers the funding of 100% of Jade Gas's planned Phase 1 capital expenditure (capex), which is estimated at $762-million, or A$1.1-billion.

Phase 1 of the Red Lake development will comprise 175 wells, which covers only 30% of the total drilling currently being advanced across the 60 km2 Red Lake development area, which is, in turn, part of the company's broader 665 km2 permit area.

Jade Gas operates the Tavan Tolgoi coal bed methane project in the South Gobi region of Mongolia.

PTBEL has agreed to make up to ten drill rigs available for short-term deployment, with initial mobilisation targeted for February or March next year. PTBEL has also agreed to fund 100% of the capital expenditure required for Phase 1 drilling - as an approved contract cost in a field services contract that will be negotiated by the parties.

Jade Gas will retain ownership of Red Lake, with PTBEL to be repaid through a future gas sales revenue sharing agreement.

The funding contemplates associated infrastructure including an expanded camp facility, roads, communications, water handling and battery energy storage systems to support an accelerated drill programme.

Separately, Jade Gas has agreed with the consortium to fund a $150-million, or A$215-million, scalable liquefied natural gas (LNG) liquefaction facility, which forms part of the total Phase 1 capex estimate. The facility will enable the initial monetisation of about 40 wells, with modular additions to follow as production from Red Lake grows.

The Red Lake coal bed methane project has the potential to become a major new energy development, not only in Mongolia but within the Asia Pacific region, Jade Gas explains.

The company is pleased to partner with seasoned companies such as PTBEL, PetroChina and Hunan, given their proven coal bed methane drilling and large-scale project execution expertise from the Qinshui and Ordos Basin coal bed methane developments in northern China. These projects are the closest operating analogue to Jade Gas's Red Lake project.

For Jade Gas executive director Joe Burke, the need to secure reliable, proximate gas resources has never been more urgent and with the backing of PTBEL, PetroChina and Hunan, the company can develop Red Lake at a scale and speed that would not have been possible alone.

"This collaboration provides a clear pathway to bring significant volumes of Mongolian gas to market, displacing diesel, supplying LNG and contributing to the energy security of an entire region," Burke states.

He concludes that the agreement marks the beginning of developing one of Asia Pacific's most strategically located gas projects.

Meanwhile, Jade Gas has received commitments for a A$11-million placement at a price of $0.12 apiece, which can support field operations, working capital and a proposed listing in Hong Kong. 

President of Tajikistan arrives on an official state visit to Mongolia www.trend.az

President of Tajikistan Emomali Rahmon arrived on an official state visit to Ulaanbaatar, Mongolia.

This was announced in a report published by the press service of the Tajik president.

According to the report, at the Chinggis Khaan International Airport, the Tajik leader was welcomed by Mongolia’s Minister of Foreign Affairs Battsetseg Batmunkh, representatives of the Mongolian government, and diplomatic officials. The airport was decorated with the national flags of Tajikistan and Mongolia in connection with the high-level visit.

"In accordance with the official protocol for state visits, a red carpet was rolled out in front of the aircraft, with honor guards lined up on both sides," the report says.

The welcoming ceremony also included the participation of young representatives wearing traditional Mongolian attire, who greeted the head of state in line with national customs. During the visit, President Emomali Rahmon is scheduled to hold meetings with Mongolian officials. The visit will also include the signing of bilateral documents aimed at further developing cooperation between the two countries.

Diplomatic relations between the Republic of Tajikistan and Mongolia were established on April 24, 1992. The countries maintain friendly relations and actively develop bilateral cooperation in the political, economic, cultural, and humanitarian spheres. In recent years, ties have noticeably strengthened, including exchanges of high-level visits, expansion of trade and economic partnerships, and collaboration in agriculture, energy, transport, and tourism. Both sides attach great importance to further deepening mutually beneficial cooperation for the benefit of the peoples of Tajikistan and Mongolia.

Festival Diplomacy Lessons from Mongolia's Naadam www.chosun.com

The success or failure of diplomacy is not solely determined in solemn meeting rooms. Sometimes, deep communication and trust can blossom in a heartfelt festival. A few days ago, President Lee Jae Myung and his spouse drew their bows at Mongolia’s ‘Naadam Festival’. Mongolian President Okhna Khurelsukh knelt before nine white banners (Gubalgui), symbolizing prosperity and peace, imprinting the image of Genghis Khan’s descendants. The presidential couple participated in archery, one of the festival’s three main events. Their wide smiles in festive attire, rather than formal suits, created a scene that will be remembered longer than any official document.

Naadam is a festival embodying Mongolia’s soul. Officially recorded since the 13th century under Genghis Khan, it blends military training for tribal unity with nomadic culture. In 1921, it merged with Mongolia’s Independence Day, becoming the nation’s largest festival. Designated as a UNESCO Intangible Cultural Heritage in 2010, it has become Mongolia’s most powerful cultural language.

The reason for inviting the South Korean presidential couple to the heart of this festival is intriguing. According to Mongolia’s statistics agency, among approximately 950,000 foreign visitors to Mongolia in 2025, South Koreans ranked third after Chinese and Russian tourists. China and Russia share borders with Mongolia, so their visitors include a significant proportion of business and lifestyle travelers who cross frequently. In contrast, South Korea is the core inbound market with the highest tourism consumption tendencies. Combining the state visit with Mongolia’s largest festival was a strategic choice targeting both cultural diplomacy and tourism marketing.

As K-Culture gains global love, South Korean diplomacy stands at a new turning point. It is time to reflect on whether we remain confined to familiar frameworks, such as inviting K-pop stars or performing in yellow traditional uniforms. South Korea has numerous festival contents that tell unique stories and offer fun, such as the ‘Royal Culture Festival’—popular among foreigners—the ‘Mysterious Sea Road Festival’ in Jindo and Muchangpo, rarely seen abroad, and the ‘Daegu Chicken and Beer Festival’ combining chicken and beer.

This is an era where ‘protocol’ is also a diplomatic competitive edge. Instead of being bound by procedures and formalities, let’s explore clever ways to utilize existing festival resources. What makes Korea more beautifully remembered might not be a strict meeting room but a vibrant festival scene.

AI-92 gasoline prices increase as Russian import costs reach USD 800 per ton www.gogo.mn

Domestic pump prices for AI-92 gasoline have risen by MNT 250 to 300 tugriks per liter following a renegotiation of import rates with Russian suppliers. D.Davaabayar, Head of the Petroleum Products Department at the State Oil and Gas Industry of Mongolia, addressed the price hike, attributing it directly to recent volatility in global oil markets.

Since January 2023, the Mongolian government has maintained a contract to purchase AI-92 fuel from Russia at a discounted, stabilized border price of USD 705 per ton. However, D.Davaabayar explained that this contract includes a key contingency clause: if global oil prices increase or decrease by more than 30% for three consecutive months, the border price must be renegotiated.

Following a surge in global oil prices earlier this year, driven in part by international conflicts and tensions in the Middle East, the market price exceeded USD 100. With global averages hitting USD 100 in April and USD 90 in May, the contract's renegotiation clause was triggered.

Consequently, starting this month, Russia increased the supply price to Mongolia by USD 95, bringing the new total to USD 800 per ton.

Based on current exchange rates from the Bank of Mongolia, the new import cost translates to approximately MNT 2,866,000 per ton. As a direct result of this border price adjustment, domestic enterprises have been forced to increase retail prices by MNT 250 to 300 per liter.

COP17 Venue Exterior Works Reach 90 Percent www.montsame.mn

 Minister of Environment and Climate Change Sandag-Ochir Tsend, Deputy Minister Munkhtamir Batbayar, and State Secretary Batbayar Shurenchuluun inspected the evening shift at the construction site for the 17th session of the Conference of the Parties (COP17).

Currently, exterior landscaping and site improvement work has reached about 90 percent completion, while interior finishing works have commenced as scheduled following the handover of the building.

Construction crews are currently working extended hours in two shifts and continued full-time work throughout the National Naadam Festival holidays. Workers said they remain on track to complete all planned work within the scheduled timeframe.

The official website of the 17th session of the Conference of the Parties (COP17) is: https://unccdcop17.org/

Israeli Tourists Attacked With Axes and Knives by Men Shouting ‘Heil Hitler’ at Mongolia Campsite www.combatantisemitism.org

Six Israeli tourists were attacked last week at a campsite in northern Mongolia, according to a report published by Israel’s Ministry for Diaspora Affairs and Combating Antisemitism.

The assailants, who carried axes and knives, were said to be a group local Kazakh Muslims who shouted “Heil Hitler” before and during the attack, which took place on Monday, July 13.

The Israeli tourists, three men and three women, were settling in for the night when the attackers arrived.

“The Israelis recognized the threat as the attackers approached, quickly packed their equipment and put on closed shoes in preparation to flee, but were attacked before they could leave,” the report said. “The attackers appeared to target the group after hearing them speak Hebrew.”

The three Israeli men, all former IDF combat soldiers, fought back to protect the group and the attackers ultimately fled.

One of the Israelis suffered a fractured jaw and was flown back to Israel for medical treatment.

The incident came just days after a similar assault in Montenegro. On July 11, more than ten young men surrounded a group of Israelis in the coastal town of Budva.

“More than 10 young men cursed at us, kicked us, and threw chairs at us,” one of the victims told KAN News.

The beatings left one Israeli with a broken jaw. A second victim lost consciousness from the force of the blows.

Korea's Mongolian mineral bet may become a geopolitical tightrope walk between China, Russia and the U.S. www.koreajoongangdaily.com

As China tightens its grip on critical mineral exports, South Korea is eyeing Mongolia as an alternative supplier — though its distribution networks, hemmed in by China and Russia, carry the risk of political interference by the two regional heavyweights down the road.

The potential for tension could grow if South Korea ultimately funnels those minerals toward the United States under the two countries' ever-expanding mineral supply chain alliance. South Korea currently chairs a 17-nation coalition that Washington launched to reduce the world's reliance on China for critical minerals.

The presidents of South Korea and Mongolia concluded a Comprehensive Economic Partnership Agreement on July 11, eliminating tariffs of 2 to 5 percent that had been imposed on Mongolian copper, molybdenum and rare earth elements. Since December, the two countries have been running a joint research center to pursue collaborative research and seek methods for exporting. 
The pact reflects Seoul's broader efforts to find alternatives to China as Beijing tightens export controls on critical minerals, particularly rare earths. China currently controls roughly 59 percent of global rare earth mining and about 90 percent of refining and processing capacity. 

Rare earths — so named not for scarcity in the earth's crust, but for how difficult they are to isolate from the minerals containing them — are often called the “vitamins of advanced manufacturing,” since only small quantities are needed to make the permanent magnets essential to industries including EVs, chips, defense, robotics and drones.

Under the shadow of Beijing and Moscow
As a landlocked country, up to 90 percent of Mongolian exports, including minerals, must pass through either Russian or Chinese rail lines and ports in order to reach world markets.

That dependency leaves Mongolia's exports exposed to interference; If China and Russia recognize that minerals moving through South Korea are ultimately bound for the United States or Japan, experts warn that they could delay shipments or throw up obstacles along the route to slow them down.

“If China wanted to counter the United States, it could sharply raise customs costs or simply slow things down at the border,” said Jang Jae-hyuk, a professor in the Department of Mongolian Studies at Hankuk University of Foreign Studies. “For now, there's no way around that logistics bottleneck.” 

South Korea is considering building processing facilities directly in Mongolia and flying the finished materials home by air, which is being explored by the research center that opened late last year.

“Critical minerals like tungsten, molybdenum and rare earths can be processed locally into concentrates or intermediate materials through beneficiation or smelting, which makes transport far more efficient,” said Song Byeong-gu, chairman of the Korean Association of Mongolian Studies, who also teaches Mongolian studies at Dankook University.

“In fact, tons of Mongolian tungsten concentrate were flown into South Korea for the first time on June 27,” he said. “That shows there's real room to diversify how some critical minerals are transported.”

A mineral-rich, unmapped nation 
Mongolia ranks 10th among the world's mineral-rich nations, according to the U.S. Geological Survey, and more than 80 minerals including rare earths, copper, gold and uranium have been officially surveyed and confirmed within its borders.

Mongolia has registered six rare earth deposits and 26 known occurrence sites, giving it the world's second-largest rare earth reserves after China, at roughly 16 percent of the global total, or 31 million tons. Its copper reserves, at 55 million tons, rank second worldwide, and its coal reserves of 175 billion tons at fourth. 

Mongolia's territory is roughly 16 times the size of South Korea, and the reserve estimates now in circulation are based solely on the portions of that land that have undergone detailed surveys. Some 55 percent of Mongolian territory remains unexplored.

Mongolia is also home to Oyu Tolgoi, one of the largest copper and gold mines in the world, in the Gobi Desert located in the southern region of the country. Mongolia's Mineral Resources and Petroleum Authority estimates the site holds 45 million tons of copper and 15 million tons of gold.

The mining sector dominates Mongolia's economy; as of 2024, it accounted for 27 percent of GDP, 70.9 percent of industrial output and 87.2 percent of total exports.

Washington in the background
Experts say the South Korea-Mongolia partnership is, at its core, a channel for funneling minerals toward the United States — an outgrowth of a broader South Korea-U.S. mineral alliance aimed at breaking China's grip on the sector. 

Washington launched the Forum on Resource Geostrategic Engagement, or Forge, in February — a 17-nation coalition to secure and diversify global supply chains for critical minerals — and South Korea currently serves as its chair.

“On paper, this is a South Korea-Mongolia minerals agreement, but in practice it's closer to an agreement between South Korea, the United States and Mongolia,” said Professor Jang. “A significant share of the minerals and rare earths flowing into South Korea will ultimately end up in the United States. If China recognizes that intent, some form of interference is possible.”

Roughly 70 percent of the rare earth compounds and metals imported by the United States between 2020 and 2023 came from China, according to the U.S. Geological Survey. Of the 17 rare earth elements, China's share of production for the permanent magnets containing neodymium and dysprosium reaches 94 percent.

Heavy rare earths such as samarium-cobalt are especially critical for defense platforms — missiles, fighter jets and other weapons systems — due to their high-temperature stability, corrosion resistance and durability. A single U.S. F-35 fighter jet requires roughly 50 pounds of samarium magnets, according to a report from The New York Times.

“Mongolia maintains diplomatic ties with both North and South Korea and has been designated a partner in the United States' Indo-Pacific strategy, which is why neighboring countries are increasingly focused on the strategic value Mongolia holds,” said Park Jeong-hu, a research fellow at the Institute for National Security Strategy. 

That alignment is already taking shape; the U.S. government has acquired a 10.59 percent stake in Korea Zinc, the world's largest zinc smelter. A joint venture between Korea Zinc and the U.S. government, in which Washington holds the largest share, is investing roughly $7.4 billion to build an integrated nonferrous metals and critical minerals smelter near Clarksville, Tennessee.

Korea Zinc said of the investment that it was reviewed “at the request of the U.S. government” as the country is “pursuing the restructuring of critical mineral supply chains as a national strategy.” 

LS Cable & System is in talks with the state of Virginia to establish a finished rare earth permanent magnet plant, with production expected to begin by late 2027, while Posco International has partnered with Indiana-based ReElement Technologies to build a joint rare earth separation and refining plant with an annual capacity of 3,000 tons. 

BY SARAH CHEA   [chea.sarah@joongang.co.kr]

President of Tajikistan to Pay State Visit to Mongolia www.montsame.mn

At the invitation of President Khurelsukh Ukhnaa, President of the Republic of Tajikistan Emomali Rahmon will pay a State Visit to Mongolia from July 20 to 22, 2026.

The visit will mark the first state visit by the Tajikistan’s president to Mongolia in 17 years, following his previous visit in 2009. It also serves as a reciprocal visit following President Khurelsukh's state visit to Tajikistan in 2025.

During the visit, the two presidents will hold official talks on expanding bilateral cooperation in politics, trade, the economy, agriculture, energy, transport and culture. They will also exchange views on regional and international issues of mutual interest.

A Mongolia–Tajikistan Business Roundtable and cultural events are scheduled to be held on the sidelines of the visit.

Mongolia and Tajikistan established diplomatic relations on April 24, 1992.

During President Khurelsukh's state visit to Tajikistan in 2025, the two heads of state adopted the Joint Statement between Mongolia and the Republic of Tajikistan on Developing Friendly Relations and Multifaceted Cooperation.

In the joint statement, the two countries reaffirmed their commitment to strengthening their longstanding friendly relations and expanding cooperation across a wide range of sectors, including politics, trade, the economy, industry, agriculture, renewable energy, transport and logistics, education, culture and tourism.

As part of the visit, the two sides signed 11 cooperation documents aimed at broadening bilateral ties in agriculture, transport, energy and tourism.

Under the auspices of the two presidents, the first Mongolia–Tajikistan Business Forum was held in Dushanbe. The visit also featured a morin khuur (horsehead fiddle) exhibition, a photography exhibition, and performances by artists from Mongolian Grand Theatre of National Art.

AI-92 gasoline price rises by MNT 250 per liter from July 15 www.gogo.mn

The Ministry of Industry and Mineral Resources has announced changes to domestic fuel prices following adjustments to July border prices set by Russia's oil supplier Rosneft and other companies.

According to the ministry, starting July 15, 2026, fuel retailers will:

Increase the price of AI-92 gasoline by MNT 250 per liter

Reduce the price of diesel fuel by MNT 150 per liter

The Ministry stated that the price adjustments reflect changes in July border prices from Russian suppliers. It also noted that the government is closely monitoring international developments, including the domestic situation in Russia, which supplies 97% of Mongolia's petroleum imports, and is implementing various measures to ensure a stable and uninterrupted fuel supply across the country.