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

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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Mongolian government pays $153m to settle dispute over Erdenet and Monros mines www.mining.com

The Mongolian Copper Corporation (MCC) announced Wednesday it received a payment of $153.5 million from the Mongolian government for the Erdenet and Monros mines.
The payment stems from a longstanding dispute surrounding the 49% ownership of the Erdenet and Monros mines, which MCC purchased in 2016 from Russian company Rostec.
“The move honors Parliament’s resolution and the decision of the Constitutional Court which concluded that MCC must be compensated for the amount it paid for the shareholding in the mines,” the company said in a press release.
MCC said it continues to work with the government to settle the outstanding balance by the end of the year.
Erdenet, which produces 530,000 tonnes of ore annually, is one of Asia’s biggest copper and molybdenum mines and a top tax contributor to the country’s $12 billion economy.
Erdenet and Monros were originally joint ventures operated by the USSR and the Mongolian government.
In 2015, MCC approached Rostec to explore the idea of acquiring its shares in the mines, and throughout 2015 and 2016 negotiations progressed.
In June 2016, the government issued a resolution, by which it waived its pre-emption right to purchase Rostec’s shareholding in Erdenet and Monros.
In June 2016 MCC purchased Rostec’s shares in Erdenet and Monros for $400 million, but in 2017 authorities announced that MCC’s shareholding in Erdenet would be transferred to the government and that it was not within the power of the government to waive its pre-emption rights.
A lengthy legal dispute took place, which culminated in a ruling from the Constitutional Court of Mongolia in February 2018 that MCC must be compensated for the amount paid to Rostec for the shareholdings in the mines.
 
 
 
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685 services integrated into E-Mongolia system www.montsame.mn

At today’s Cabinet meeting, Minister of Digital Development and Communications N.Uchral presented about ‘Digital nation’ measures being implemented as part of ‘Revival of the State Efficiency’ set out in the Government’s ‘New Revival Policy’.
Currently, 685 services of 63 government organizations have been integrated into ‘E-Mongolia’ unified digital platform and 1,284 services have been digitalized in rural areas. To date, 14.4 million services have been received through the system by citizens and enterprises, from which MNT 10.4 billion have been collected in the state budget.
Since the Law on Electronic Signature coming into effect from May 1, electronic signatures have been issued to 266,451 citizens so far. In connection, the Prime Minister tasked to intensify this work.
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Implementation of Austerity Law reviewed www.montsame.mn

During today’s regular meeting of the Cabinet, the implementation of the Austerity Law was reviewed.
Since the law entered into force in April 2022, about MNT 5.8 billion has been saved so far by dismissing 159 deputy directors, first deputy directors, and advisers in government organizations, restricting the officials below the level of the minister from using government fleet vehicles and from traveling in business class for business trips, and digitalizing some day-to-day operations.
In addition, MNT 4.4 billion was saved from dismissing 104 deputy directors and first deputy directors of state-owned enterprises, MNT 5.6 billion from redefining the organizational structure and functions of state-owned enterprises, MNT 26.2 billion from organizing meetings and trainings virtually, and reducing the expenses of other day-to-day operations, and MNT 43.1 billion from not financing projects and measures that are not directly related to the main activities of state-owned enterprises.
The Prime Minister instructed the relevant officials to further intensify the implementation of the law and set up a working group to monitor it.
Optimal scheme of financing necessary for reserving flour and meat to be developed
The relevant officials were instructed to intensify the implementation of the law to prevent the rise in price and shortage of key commodities caused by the international crisis and reduce their impact, and to develop an optimal financing scheme necessary to create reserves for the population's flour and meat needs in 2023, and to quickly organize its implementation.
Minister of Energy B.Choijilsuren and Head of the Authority for Fair Competition and Consumer Protection S.Munkhchuluun have been assigned to present to the next meeting of the Cabinet about the measures being taken to prevent artificial scarcity and price hikes in the supply of consumer goods and products.
Deputy Ministers and State Secretaries of some ministries appointed
At its meeting, the Cabinet also approved the appointments of Deputy Ministers and State Secretaries of some ministries.
Specifically, B.Bolor-Erdene was appointed as the Deputy Minister of Digital Development and Communications, J.Bat-Erdene – Deputy Minister of Food, Agriculture and Light Industry, and L.Khaltar – Deputy Minister of Road and Transport Development.
In addition, Ch.Zolbayar and N.Tavinbekh were appointed temporarily as the State Secretaries of the Ministry of Digital Development and Communications and the Ministry of Energy respectively.
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Nord Stream 1: Russia shuts major gas pipeline to Europe www.bbc.com

Russia has completely halted gas supplies to Europe via a major pipeline, saying repairs are needed.
The Russian state-owned energy giant, Gazprom, said the restrictions on the Nord Stream 1 pipeline would last for the next three days.
Russia has already significantly reduced gas exports via the pipeline.
It also rejects accusations of using energy supplies as a way to punish Western nations for imposing sanctions over the invasion of Ukraine.
The Nord Stream 1 pipeline stretches 1,200km (745 miles) under the Baltic Sea from the Russian coast near St Petersburg to north-eastern Germany.
It opened in 2011, and can send a maximum of 170m cubic metres of gas per day from Russia to Germany.
The pipeline was shut down for 10 days in July - again for repairs, according to Russia - and has recently been operating at just 20% capacity because of what Russia describes as faulty equipment.
European leaders fear Russia could extend the outage in an attempt to drive up gas prices, which have already risen by 400%.
The steep rise threatens to create a cost of living crisis over the winter months, potentially forcing governments to spend billions to ease the burden.
On Tuesday, French Energy Minister Transition Minister Agnes Pannier-Runacher accused Russia of "using gas as a weapon of war".
She was speaking after Gazprom said it would be suspending gas deliveries to the French energy company Engie.
But Russian President Vladimir Putin's spokesman has rejected the accusations and insisted that Western sanctions have caused the interruptions by damaging Russian infrastructure.
He insisted that that "technological problems" caused by Western sanctions are the only thing preventing Russia from supplying gas via the pipeline, without specifying what the problems were.
The most recent controversy has been over a turbine which arrived in Germany after being repaired in Canada and which Russia refused to take back , arguing it was subject to the Western sanctions.
Germany, however, denies this.
Earlier this month, Economy Minister Robert Habeck said the pipeline was fully operational and said there were no technical issues as claimed by Russia.
Earlier this week, EU Commission President Ursula von der Leyen promised to intervene in energy markets, telling a conference in Slovenia that they are "no longer fit for purpose".
"We need a new market model for electricity that really functions and brings us back into balance," she said.
Last week, the BBC revealed that Russia has been burning off an estimated $10m (£8.4m) worth of gas every day at a plant near the Finnish border.
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Mongolia confiscates 587 cars being used beyond entitlement www.news.mn

Since April, a total of 159 Mongolian high-ranking officials such as directors, deputies and advisors were dismissed from government jobs under the Law on Austerity.
Furthermore, Mongolia has banned officials using government vehicles and confiscated 587 cars, being used beyond entitlement by government officials below Ministers. Therefore, Mongolian Government saved MNT 1.4 billion for 2022 State Budget.
The government regulated to close down some state enterprises, to modify and rationalise the activity of structures operating in the same field and to cut unnecessary spending.
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China-Mongolia trade has ‘room for improvement’, with investment potential in tech, finance www.scmp.com

Batshugar Enkhbayar has big ambitions for his homeland of Mongolia.
The US-educated legislator, who sits on two parliamentary committees, has helped pass laws encouraging the use of cryptocurrency and the protection of personal data. He is inspired that many in the electoral democracy of 3.4 million people already make cashless payments.
Though the country’s economy is best known for its mineral riches, such as coal, copper, gold and nickel, Enkhbayar, a former central bank deputy governor, wants to change that.
The son of Mongolian ex-president Nambaryn Enkhbayar – whose time in office was tarnished by corruption allegations – is pushing to diversify the economy away from extractive industries, which were shaken in 2015 when commodity prices slumped.
To do so, Enkhbayar is looking to China for investment in other sectors beyond mining, particularly into the technology sector.
“Mongolia has potential to become a Central Asian financial hub,” the 35-year-old lawmaker told the South China Morning Post on Friday. “Going forward, I’d like to see China invest more in finance and more into infrastructure.”
China is well positioned to help because since 1990 it has channelled an average of 9 per cent annually from its total US$5.8 billion worth of Mongolian foreign direct investment (FDI) into the finance sector, he said, higher than the average amount invested from other nations.
China’s history of trade in Mongolia – with whom it shares a 4,630km-long (2,877 miles) land border – has allowed it to develop diverse business interests in the country, Enkhbayar said.
Mongolians protest Beijing’s language policy in Inner Mongolia as Chinese foreign minister visits
Mongolians protest Beijing’s language policy in Inner Mongolia as Chinese foreign minister visits
“It’s the world’s second largest economy and right next to us,” the former investment banker said. But given China’s size, he added, “I think there’s room for improvement.”
While trade ties stretch back centuries, there have been recent flashpoints in the relationship.
A decade ago, Mongolians fretted about illegal Chinese labour in their country, where according to the Asian Development Bank 27.8 per cent of the population lived below the poverty line in 2020.
In 2020, some protested against Beijing’s guidelines to replace Mongolian with Mandarin Chinese as the language of instruction for some subjects in China’s Inner Mongolia autonomous region.
But the coronavirus pandemic turned public opinion, the lawmaker said, as border closures made many Mongolians realise that their arid, landlocked country depends on China for shipments of cars, clothing and vegetables.
“We could see how important Chinese goods were for our daily lives,” said Enkhbayar, who was elected to the Mongolian parliament in October. “For a landlocked country like Mongolia, it’s very important for us to have a good trading relationship.”
Mongolia owes about US$1 billion in loans to the Chinese government, Enkhbayar said, but repayment should be manageable given China’s “concessional” terms.
Exports of coal briquettes to China are worth US$2.1 billion per year to the Mongolian economy and copper ore shipments US$635 million, according to the Observatory of Economic Complexity (OEC) database.
For manufacturing powerhouse China, coal briquettes represent an energy source, while copper ore is used to make wiring and other metal alloys.
But Mongolia has a growing tech scene, with 109 start-ups currently, many of whom work in financial technology, Enkhbayar said.
He believes the Mongolian government should follow the lead of other small nations like Estonia and Norway, the latter of which operates the world’s largest sovereign wealth fund, worth US$1.19 trillion. Estonia, meanwhile, has “digitised” its economy, he said.
Mongolia still relies mostly on minerals for export and China bought US$6.89 billion worth last year, said Derek He, senior analyst with financial market data provider Refinitiv.
Around 95 per cent of Mongolian exports are transported to China, which became the world’s largest manufacturer by output after its accession to the World Trade Organization in 2001. Mongolia’s exports to China were worth US$5.4 billion in 2020, according to Enkhbayar.
Mongolia created its Ministry of Economic Development in January to oversee foreign investment and steer it toward specific projects, said Enkhbayar, who sits on a committee for innovation and digital development plus another for culture.
Mongolia and China signed a series of “cooperation documents’’ earlier this month after Chinese Foreign Minister Wang Yi visited his counterpart Battsetseg Batmunkh in Ulaanbaatar. The two sides agreed to connect railways to highways and reopen border crossings.
Developing infrastructure in Mongolia will help China “diversify its sources of mineral imports and strengthen trade ties with Mongolia,” He said.
Cross-border railway links and transport upgrades are “very good news” for Mongolia’s non-mining sectors, Enkhbayar added. Technology infrastructure investments from China could follow, he said.
The Mongolian politician is particularly keen to see more Chinese capital flow into renewable energy, which could displace pollution-heavy energy sources now used in mining.
China could also play a bigger part in Mongolia’s 31-year-old capital markets, as the People’s Bank of China and the Bank of Mongolia have a currency swap agreement, Enkhbayar said.
Connections between China’s US$1 trillion Belt and Road Initiative, which was set up to facilitate trade by building cross-border infrastructure, and Mongolia’s like-minded Steppe Road Plan could allow for more upgrades, Enkhbayar said.
Wang said during his visit to Mongolia that China “stands ready to foster greater synergy of development strategies with the Mongolian side”.
The two countries should “support each other in accelerating development and rejuvenation”, Wang was quoted as saying on the Chinese foreign ministry’s website.
By Ralph Jennings
Ralph Jennings joined the Politcal Economy desk as a Senior Reporter in August 2022 having worked as a freelancer since 2011. Ralph previously worked for Thomson Reuters in Taipei and for local newspapers in California. He graduated from University of California, Berkeley with a bachelor’s degree in mass communication.
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Death toll from coronavirus in Mongolia reaches 2,128 www.akipress.com

83 new COVID-19 cases were recorded in Mongolia in past 24 hours.
30 of them were contacts in Ulaanbaatar, and 53 were registered in the regions. No imported cases were found.
Mongolia confirmed 1 coronavirus related death in a day (2,128 deaths in total).
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Eagle Festival-2022 to be organized in October www.montsame.mn

The Eagle Festival-2022 will be organized on October 1-2 in Bugat soum of Bayan-Ulgii aimag by the Mongolian Eagle Hunters’ Association in collaboration with the Ministry of Environment and Tourism, the Governor’s Office of Bayan-Ulgii aimag, and the aimag’s Department of Environment and Tourism.
Some 100 eagle trainers from 13 soums of the aimag are expected to participate in the traditional festival, maintaining the heritage and showing off trainer’s and bird’s skills.
The festival participants will compete for awards of Best Turned Out Eagle and Owner, Best Eagle at Hunting Prey, and Best Eagle at locating its owner from a distance, dressed in full eagle hunting regalia and mounted on groomed decorated horses and Bushkashi-goatskin tug of war on horseback.
As Mongolia is one of the few remaining countries that keep the 6000-year-old tradition of eagle hunting, the festival is organized twice a year, with one taking place in Ulaanbaatar in spring and the other in Bayan-Ulgii aimag in fall.
The event, which started being organized in 2000, aims at reviving eagle hunting customs and traditions of Kazakh people, inheriting the culture of hunting with eagles to the young generation, publicizing this tradition to tourists and making it a tourism product.
In 2010, UNESCO inscribed the practice of eagle hunting also known as Falconry to its Representative List of the Intangible Heritage of Humanity.
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India coal baron becomes world’s third richest trailing only Musk, Bezos www.bloomberg.com

Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world’s third-richest person.
It’s the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index — fellow citizen Mukesh Ambani and China’s Jack Ma never made it that far. With a $137.4 billion fortune, Adani has overtaken France’s Bernard Arnault and now trails just Elon Musk and Jeff Bezos of the US in the ranking.
Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media and alumina. The group now owns India’s largest private-sector port and airport operator, city-gas distributor and coal miner. While its Carmichael mine in Australia has been criticized by environmentalists, it pledged in November to invest $70 billion in green energy to become the world’s largest renewable-energy producer.
As his empire has expanded to one of the world’s largest conglomerates fueling the remarkable wealth gains, concerns have grown over the rapid growth. Adani’s deals spree has been predominantly funded with debt and his empire is “deeply over-leveraged,” CreditSights said in a report this month.
Some lawmakers and market watchers have also raised concerns over opaque shareholder structures and a lack of analyst coverage at Adani Group companies. Yet the shares have soared — some of them more than 1,000% since 2020, with valuations hitting 750 times earnings — as the tycoon focused on areas that Prime Minister Narendra Modi deems crucial to meeting India’s long-term goals.
Shares of Adani Enterprises Ltd., the group’s flagship, climbed 1.7% on Tuesday to close at a record high.
The pivot to green energy and infrastructure has won investments from firms including Warburg Pincus and TotalEnergies SE, helping Adani enter the echelons previously dominated by US tech moguls. The surge in coal in recent months has further turbocharged his ascent.
All told, Adani has added $60.9 billion to his fortune in 2022 alone, five times more than anyone else. He first overtook Ambani as the richest Asian in February, became a centibillionaire in April and surpassed Microsoft Corp.’s Bill Gates as the world’s fourth-richest person last month.
Adani was able to move past some of the world’s richest US billionaires partly because they’ve recently boosted their philanthropy. Gates said in July he was transferring $20 billion to the Bill & Melinda Gates Foundation, while Warren Buffett has already donated more than $35 billion to the charity.
The two, along with Gates’s ex-wife Melinda French Gates, started the Giving Pledge initiative in 2010, vowing to give away most of their fortunes in their lifetimes. The billions of dollars spent on philanthropy has pushed them lower on the Bloomberg wealth ranking. Gates is now fifth and Buffett is sixth.
Adani, too, has increased his charitable giving. He pledged in June to donate $7.7 billion for social causes to mark his 60th birthday.
(By Alexander Sazonov, with assistance from Pei Yi Mak)
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China, Russia, Mongolia to strengthen coordination in intl, regional affairs: Chinese Vice FM www.globaltimes.cn

Chinese Vice Foreign Minister Ma Zhaoxu on Tuesday attended a virtual meeting with deputy foreign ministers of Russia and Mongolia, in which they agreed to further strengthen mutual coordination.
Ma spoke highly of the progress the three sides have made since the fifth trilateral meeting of the heads of state of China, Russia and Mongolia. Ma said progress had been seen in the sectors of politics, economy and trade, anti-pandemic efforts, humanities, international cooperation and other fields, according to China's Ministry of Foreign Affairs.
The fifth trilateral meeting was held in June 2019, in which leaders from the three sides pledged to strengthen trilateral cooperation.
Ma said that the three sides should fully implement the important consensus reached by the heads of the three countries, actively push forward the Mid-term Roadmap for Development of Trilateral Cooperation among China, Russia and Mongolia, and work on construction of the China-Mongolia-Russia economic corridor.
The three sides should also explore and foster new growth sectors for trilateral cooperation, strengthen coordination and cooperation in international and regional affairs, and achieve common development, according to Ma.
Russia and Mongolia fully acknowledge the positive results achieved in trilateral cooperation during recent years and they are willing to step up coordination and work together to achieve more results in trilateral cooperation. They also exchanged opinions on key areas for cooperation in the next phase.
China, Russia and Mongolia inked a development plan on June 23, 2016 to build an economic corridor linking the three neighbors, pledging to boost transportation connectivity and economic cooperation in border regions.
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