1 CHINA’S MONGOLIAN COAL IMPORTS UP 20% IN OCT, RUSSIAN IMPORTS SLIP 18% WWW.BRECORDER.COM  PUBLISHED:2025/11/21      2 S.KOREA-MONGOLIA JOINT COMMITTEE MEETING REAFFIRMS MINERAL COOPERATION WWW.KOREAPOST.COM PUBLISHED:2025/11/21      3 TEAM MONGOLIA FROM PHYSICAL ASIA: WHERE ARE THEY NOW? WWW.MOVIEDELIC.COM PUBLISHED:2025/11/21      4 N.UCHRAL: I’LL BE LENIENT WITH THE RIGHT, STRICT WITH THE WRONG WWW.GOGO.MN PUBLISHED:2025/11/20      5 MONGOLIAN BANKING SECTOR'S NET FOREIGN ASSETS DECLINE 16.1 PCT IN OCTOBER WWW.XINHUANET.COM PUBLISHED:2025/11/20      6 ON THE TALKS OF SECRETARY-GENERAL WITH THE MINISTER OF FOREIGN AFFAIRS OF MONGOLIA WWW.ENG.SECTSCO.ORG PUBLISHED:2025/11/20      7 MONGOLIA UNIFIES TO COMBAT NEW THREATS TO SNOW LEOPARDS WWW.SNOWLEOPARD.ORG PUBLISHED:2025/11/20      8 AMERICAN-CANADIAN BILLIONAIRE OPENS $2-BILLION PLATINUM MINE IN SOUTH AFRICA WWW.AFRICA.BUSINESSINSIDER.COM PUBLISHED:2025/11/20      9 EDUCATION INFRASTRUCTURE: 12 SCHOOLS, 24 KINDERGARTENS SET FOR 2025 LAUNCH WWW.MONTSAME.MN PUBLISHED:2025/11/20      10 MONGOLIA JAPAN HOSPITAL INTRODUCES SELECTIVE LASER TRABECULOPLASTY SYSTEM WWW.AKIPRESS.COM PUBLISHED:2025/11/20      Н.УЧРАЛ: ХУУЛЬ ТОТООХ ДЭЭД БАЙГУУЛЛАГААС ХУЛГАЙН СЭЖИГТНҮҮД БИШ ХУУЛЬ ТӨРЖ БАЙХ ЁСТОЙ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/11/21     ТЭРБУМ МОД САНГИЙН ТӨСЛИЙН СОНГОН ШАЛГАРУУЛАЛТ ЗАРЛАГДЛАА WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/11/20     ОЙЖУУЛАЛТАД ХАМГИЙН ИХ ХӨРӨНГӨ ОРУУЛАЛТ ХИЙЖ БАЙГАА ХУВИЙН ХЭВШЛИЙН САНГААР ТЭРБУМ МОД САНГ НЭРЛЭЛЭЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/11/20     МОНГОЛД ГАДНЫ БАНК НЭЭХ НЬ ХЭРЭГЛЭГЧДЭД ӨГӨӨЖТЭЙ Ч ДОТООДЫН БАНК САНХҮҮГИЙН САЛБАРТ ЭРСДЭЛТЭЙ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/11/20     ӨНГӨРСӨН САРД 11 УЛСЫН 240 ИРГЭНИЙГ АЛБАДАН ГАРГАЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/11/20     Х.НЯМБААТАР: ГАНДАН ОРЧМЫГ НОГООН БАЙГУУЛАМЖ БҮХИЙ ЖИШИГ ГУДАМЖ БОЛГОН ТОХИЖУУЛНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/11/20     ОЮУ ТОЛГОЙ ТӨСЛИЙН ХУВЬ НИЙЛҮҮЛЭГЧДИЙН ЗЭЭЛИЙН ХҮҮГ БУУРУУЛАХ ХЭЛЭЛЦЭЭ ҮРГЭЛЖИЛЖ БАЙНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/11/20     УИХ-ЫН ДАРГААР Н.УЧРАЛ СОНГОГДЛОО WWW.ITOIM.MN НИЙТЭЛСЭН:2025/11/20     "ЧИНГИС ХААН" ОДОН ХҮРТЭЖ БУЙ С.НАРАНГЭРЭЛ ГЭЖ ХЭН БЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/11/20     ОХУ-ЫН БАНК САЛБАРАА МОНГОЛД НЭЭХ ҮҮ? WWW.NEWS.MN НИЙТЭЛСЭН:2025/11/20    

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

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Mongolia Exits SCO Observer Status, Draws Closer to China and Russia www.news.mn

In September 2025, amid the Shanghai Cooperation Organization (SCO) Summit in Tianjin, a pivotal geopolitical shift took hold for Mongolia: after two decades as an SCO “observer state,” the country formally stepped away from this neutral role. The move followed the SCO’s restructuring of its partner framework, which merged “observer states” and “dialogue partners” into a unified “SCO partners” category. Mongolia pointedly declined to transition to the new status.
Instead, Ulaanbaatar announced a “strategic focus on trilateral cooperation with China and Russia,” a pivot that reflects not just diplomatic recalibration, but the deepening gravitational pull of its two giant neighbors. For a nation long defined by its “multipillar” foreign policy – crafted to balance great powers and avoid overreliance – this shift is a symptom of a reshaped Eurasian order, where China and Russia’s economic, energy, and security networks are tightening around Mongolia.
From Observer Caution to Trilateral Alignment: A Calculated Pivot
Mongolia’s SCO observer status, granted in 2004, was once a cornerstone of its geopolitical survival. It allowed Ulaanbaatar to participate in the bloc’s economic dialogues and cultural initiatives (like anti-desertification efforts) without committing to binding security or infrastructure deals. As recently as 2024, President Khurelsukh Ukhnaa described the observer role as a “buffer” in a parliamentary address, stressing it let Mongolia “engage without being entangled” in great-power rivalries.
By 2025, that caution had evaporated. According to Mongolian diplomatic sources, China and Russia applied quiet but persistent pressure on Ulaanbaatar to “upgrade” its engagement. For Moscow – still reeling from a 40 percent drop in European gas demand since the 2022 Ukraine conflict – Mongolia’s neutrality hindered its goal of securing eastern energy export routes. For Beijing, the observer status slowed progress on the China-Mongolia-Russia (CMR) Economic Corridor, a flagship Belt and Road Initiative (BRI) project linking Chinese manufacturing hubs to Russian resource basins via Mongolian territory.
Mongolia’s response was a clear break from tradition. In a September 1 statement, its Foreign Ministry framed the “exit” from observer status as a choice to prioritize “tangible trilateral outcomes” over “broad regional forums.” Days later, at the Beijing trilateral summit, Khurelsukh explicitly aligned Mongolia’s “Steppe Road” infrastructure plan with China’s BRI and Russia’s Eurasian Economic Union (EAEU) – a far cry from the tentative language of observer diplomacy. He also highlighted domestic priorities tied to regional cooperation: the “Billion Trees” environmental campaign and plans to host the 2026 U.N. Convention to Combat Desertification (COP17) in Ulaanbaatar.
The SCO’s reaction underscored the shift’s significance. Russian President Vladimir Putin praised Mongolia’s “deeper engagement” as a sign of the bloc’s growing Eurasian influence, while Chinese President Xi Jinping commended its role in “safeguarding regional peace” – a nod to Ulaanbaatar’s pledge to join SCO counterterrorism exercises and avoid foreign military bases.
For Mongolia, however, the move was an admission: neutrality is no longer viable in a region where China and Russia set the terms of engagement.
The Pipeline That Binds: Power of Siberia 2 and Mongolia’s Double-Edged Bargain
If Mongolia’s SCO pivot was a political signal, the “Power of Siberia 2” (PoS2) natural gas pipeline is the economic mechanism cementing its integration with China and Russia. On September 2, 2025, the three countries signed a legally binding memorandum in Beijing to build the 3,000-kilometer pipeline, which will transport 50 billion cubic meters of Russian gas annually to China via central Mongolia. For Ulaanbaatar, the project is a double-edged sword: a lifeline for an economy recovering from COVID-19 and a coal price slump, yet a chain locking it into decades of dependence.
The short-term benefits are tangible. Over 30 years, PoS2 will generate more than $10 billion in transit fees for Mongolia – roughly a few hundred million annually, equivalent to a few percentage points of its 2024 GDP – and create 10,000 construction jobs. It will also provide Mongolia with affordable Russian gas, reducing its 90 percent reliance on coal for electricity generation and supporting its climate goals.
For China, PoS2 is critical to energy security. Amid China-U.S. tensions and uncertain Middle Eastern LNG access, the pipeline will meet 15 percent of China’s projected 2035 natural gas demand. For Russia, it offsets lost European markets. Combined with the expanded “Power of Siberia 1” (now carrying 44 billion cubic meters of LNG annually), PoS2 will make China Moscow’s largest gas export market by 2030.
Yet the costs to Mongolia’s sovereignty are steep. China and Russia will fund 85 percent of the $40 billion project with Russia’s Gazprom and China’s CNPC holding majority control. Mongolia contributes only land and labor – no ownership stake, and no role in pricing or maintenance. This deepens an already lopsided economic relationship: China buys 65 percent of Mongolia’s exports (coal, copper), while Russia supplies 90 percent of its gasoline and 70 percent of its electricity. Critics in Ulaanbaatar warn PoS2 will turn “multipillar” diplomacy into a “two-pillar” reality.
The imbalance was evident weeks before the SCO Summit, when Gazprom signed a separate transit deal with Mongolia, precluding Ulaanbaatar from seeking alternative partners. Khurelsukh has defended the project as a “win-win,” noting Mongolia retains control over its pipeline section and will use fees to fund renewable energy. But experts remain skeptical. “If Gazprom and CNPC dispute prices, Mongolia gets caught in the middle. We have no Plan B,” said a Mongolian government official familiar with cross-border energy cooperation negotiations.
Infrastructure, Security, and the Binding Web
Energy is just one thread in the China-Russia-Mongolia cooperation network. On the same day the PoS2 agreement was signed, the three countries extended the CMR Economic Corridor until 2031 and added 33 new infrastructure projects, including three cross-border railways. The Shiveekhuren-Ceke and Khangi-Mandula lines will link Mongolia’s coal-rich South Gobi region to China’s steel hubs. A modernized Central Railway Corridor, will connect Mongolia to Russia’s Trans-Siberian Railway. And then there’s the already operational Gashuunsukhait-Ganqimaodu line, streamlining coal exports to China.
Together, these projects will cut Mongolia’s reliance on road transport for mineral exports by 50 percent – but bind its economy all the more tightly to China’s manufacturing sector and Russia’s resource-driven growth.
Security cooperation is also deepening. At the Tianjin Summit, Mongolia pledged to join the SCO’s “Comprehensive Center for Countering Security Threats” and participate in 2026 joint anti-terror drills. While Mongolian officials frame this as a response to extremism, the SCO’s definition of the threat aligns with China and Russia’s agenda. Moscow focuses on countering “hybrid threats” (Western disinformation), while Beijing prioritizes fighting “separatism” in Xinjiang. For Mongolia – with 4,710 km of border with China and 3,485 km with Russia – such cooperation is a prerequisite for market access.
History as a Tool: Soft Power and the “Shared Struggle” Narrative
To legitimize this alignment, China and Russia have leveraged the 80th anniversary of World War II (China’s War of Resistance Against Japan, Russia’s Great Patriotic War). The symbolism was deliberate: On September 2, Khurelsukh traveled to Zhangbei County, Zhangjiakou city of Hebei, China, to lay a wreath at the Soviet-Mongolian Martyrs’ Cemetery, honoring soldiers who liberated northern China in 1945. The ceremony, broadcast live in all three countries, was framed by Chinese state media as a tribute to the “unbreakable bond” between the nations.
“Our grandfathers fought side by side against fascism; today we defend their legacy,” Khurelsukh declared. This narrative undermines Western criticism of the China-Russia partnership as an “authoritarian bloc” and lets Mongolia see itself as a “guardian of shared values” rather than a pawn.
Soft power extends beyond symbolism. China has expanded the number of Confucius Institutes in Mongolia from five (2015) to 15 (2025), focusing on trade-specific language training. Russia has doubled scholarships for Mongolian students to study engineering and energy – fields critical to PoS2. By 2025, over 10,000 Mongolian students were enrolled in Chinese and Russian universities, compared to over 2,000 in the U.S. and Europe.
The Fading “Third Neighbor” Policy
Mongolia’s pivot has raised doubts about its “third neighbor” policy, which for decades has seen Ulaanbaatar balance China and Russia with U.S., EU, and Japanese partnerships. The U.S. Department of State, U.S. Agency for International Development (USAID), and Millennium Compact Challenge have conducted multiple grants and programs to support Mongolia’s development of clean water and energy sources, and the EU pledged 79.67 million euros in financing aimed at enhancing Mongolia’s energy infrastructure. But these sums pale next to the $40 billion committed to PoS2 and the CMR Corridor. Western investment has also declined since 2022, as companies shift focus to the Ukraine war and the Middle East.
Mongolian officials reject the “pawn” label, emphasizing their transit leverage. “Without Mongolia, PoS2 and railways are logistically impossible or too costly,” one such official said. Ulaanbaatar has extracted concessions: China and Russia will fund PoS2-related environmental protections and build schools in rural Mongolia. Hosting COP17 in 2026 also lets Mongolia assert global environmental leadership.
Yet pressure to align with China and Russia will grow, from adopting Beijing’s “cyber sovereignty” model to avoiding Western sanctions on Moscow. Mongolia’s “multipillar” identity, once a strength, is increasingly rhetorical.
Conclusion: A Microcosm of Eurasian Geopolitics
Mongolia’s exit from SCO observer status in favor of expanded trilateral cooperation is more than a regional story; it mirrors Eurasia’s broader shift. As the United States focuses on Indo-Pacific alliances and Europe navigates energy transition, China and Russia are building a parallel order centered on the SCO, EAEU, and projects like PoS2. For smaller states like Mongolia, the choice is no longer “alignment vs. neutrality,” but “engagement vs. marginalization.”
In the short term, Mongolia gains stability: transit fees, infrastructure investment, and SCO market access. In the long term, it risks losing the autonomy that defined its foreign policy for decades. As Khurelsukh acknowledged in Tianjin, “Mongolia’s future is tied to the stability and prosperity of our neighbors.” The question is whether that tie becomes a lifeline – or a constraint.
For the West, Mongolia’s shift is a warning: post-Cold War unipolarity in Eurasia is over. Smaller states are increasingly choosing partners based on tangible benefits, not ideology. For China and Russia, it validates their vision of a Eurasian order built on “sovereignty, non-interference, and pragmatic cooperation.” For Mongolia, the tightrope walk between autonomy and dependence has never been more precarious. As PoS2 breaks ground and cross-border railways expand, its fate is increasingly shaped not in Ulaanbaatar, but in Beijing and Moscow.
By Sumiya Chuluunbaatar

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Rio Tinto dials up the diplomacy with Governor-General Sam Mostyn visiting Mongolian copper mine www.thewest.com.au

Australia’s Governor-General has visited Rio Tinto’s Oyu Tolgoi copper mine in Mongolia amid simmering tensions between the mining giant and the Asian country’s government.
Sam Mostyn was at Oyu Tolgoi this weekend as a key part of her trip to Mongolia — the first by an Australian Governor-General in more than 30 years.
The Governor-General was greeted by Rio’s new chief Simon Trott and chair Dominic Barton before venturing into the bowels of the massive underground copper mine.
“Earlier in my visit, the President of Mongolia and I spoke at great length about the strength of partnership between Australia and Mongolia. We agreed that Oyu Tolgoi is one of the greatest examples of that partnership,” Ms Mostyn said.
“The result of long-term and substantial investment by Rio Tinto, and benefiting from the expertise and ingenuity of hundreds of Australian mining and engineering companies, Oyu Tolgoi was also built by Mongolians for Mongolia’s future.
“The visit to Oyu Tolgoi was an extraordinary experience — we travelled 1.3 kilometres underground and saw first-hand the ingenuity and effectiveness of world class deep block cave mining, delivered with focus on safety and a strong, inclusive and enthusiastic workforce.”
Rio will be hoping Ms Mostyn’s diplomacy blitz can reset its strained relationship with key officials in Ulaanbaatar.
The Mongolian government in May reportedly filed a lawsuit against Rio in a UK court. The lawsuit accused the mining giant of corruption and political bribery.
A few weeks later, Rio was forced to overhaul its plans to grow Oyu Tolgoi after the Mongolian government delayed a decision to grant the company access to mining tenements.
Rio and Mongolia are also in a long-running legal battle over $US438 million ($665m) worth of disputed taxes.
Oyu Tolgoi, which produced first copper as an open-pit mine in 2013 and then as an underground mine in 2023, accounts for nearly 30 per cent of Mongolia’s gross domestic product.
Ms Moyston’s visit to Oyu Tolgoi comes days after the miner changed plans for one of its other copper projects thousands of kilometres away.
Rio on Wednesday cut the development envelope for its Winu copper-gold development in the East Pilbara by almost 14,000 hectares to 23,649ha.
This decision followed negotiations with the local Aboriginal corporation and concerns raised by environmentalists about the potential impact to habitat of a rare parrot species.
In May, Rio sold a 30 per cent stake in Winu for $430.4m to Japan’s Sumitomo Metal Mining.

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Rio Tinto’s Newly Appointed CEO Simon Trott Visits Mongolia www.montsame.mn

Newly appointed Chief Executive Officer of Rio Tinto Group, as of August 25, 2025, Simon Trott is visiting Mongolia to meet with colleagues and review operations. He is also scheduled to visit the Oyu Tolgoi mine.
During a meeting with employees, Simon Trott outlined the Group’s future goals and priorities while introducing last week’s decision to restructure Rio Tinto’s operations. The company will continue to operate through three global product groups: iron ore, aluminum, and energy transition minerals such as lithium and copper. According to Simon Trott, this streamlined structure will strengthen Rio Tinto’s supply capacity, competitiveness, and growth while sharpening its focus on key green development metals.
Simon Trott has over 20 years of leadership experience at Rio Tinto, having managed product groups including iron ore, salt, uranium, borates, and diamonds. He has also served on the executive leadership team as Chief Commercial Officer.

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Gazprom Expands Gas Collaboration with Kazakhstan, Mongolia www.menafn.com

On Friday, Russian energy giant Gazprom announced it has finalized agreements with Kazakhstan and Mongolia to deepen their gas cooperation, including plans to boost gas deliveries to Kazakhstan during 2025-2026 and to conduct a feasibility study for gasification in Mongolia’s capital, Ulaanbaatar.
The supply contract was signed by Gazprom CEO Alexey Miller and Kazakhstan’s First Deputy Prime Minister Roman Sklyar during an official working session, the company reported.
The discussions also covered joint efforts in gas supply, transportation, and processing.
Back in November 2023, Gazprom and the Kazakh government entered into a strategic partnership pact focusing on energy collaboration.
In a separate meeting, Miller engaged with Mongolian Prime Minister Gombojav Zandanshatar to explore opportunities in the natural gas sector.
Participants highlighted that natural gas would serve as a more efficient and environmentally friendlier energy source, fostering industrial development and enhancing living conditions.
Following this, Gazprom Deputy Chairman Vitaly Markelov and Mongolian Deputy Prime Minister Sainbuyan Amarsaikhan signed a memorandum of understanding concerning gasification prospects in Ulaanbaatar.
Earlier, in August 2025, Gazprom and Mongolia’s government had signed a memorandum to reinforce cooperation in the oil and gas industries.
Kazakhstan, a leading energy producer in Central Asia, still depends on Russian imports to fulfill its domestic gas needs.
Meanwhile, Mongolia has long aimed to increase natural gas access to lessen coal usage and improve air quality in Ulaanbaatar, considered one of the world’s most polluted capitals.

 

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President of Mongolia and Governor-General of Australia Hold Official Talks www.montsame.mn

President of Mongolia Khurelsukh Ukhnaa and Governor-General of the Commonwealth of Australia Samantha Mostyn held an official meeting on September 5, 2025.
During the meeting, the two Heads of State reviewed the achievements in bilateral relations and cooperation over the past 50 years, expressing their commitment to further expand and enrich these ties with new content. They affirmed their intention to deepen cooperation across a wide range of sectors, including education, mining, and agriculture. Both sides praised the development of relations under the framework of an “Expanded Partnership” since 2007 and reaffirmed the mutual goal of elevating the relations of the two countries to the level of a “Comprehensive Partnership” in the near future.
President Khurelsukh noted that the current visit, taking place more than 30 years after the last Governor-General-level visit, marks a new chapter in bilateral relations. He highlighted Australia as an important “third neighbour” that shares the core democratic values of Mongolia, such as human rights, freedom, and a market economy, and as a close partner in the Indo-Pacific region. The President emphasized the symbolic role of the Oyu Tolgoi project and the “Mongolia–Australia Minerals Cooperation Program” in refining Mongolia’s legal and regulatory environment in the mining sector, expanding business cooperation, and strengthening human resource capacity. He underscored the importance of increasing Australian investment in Mongolia and implementing joint projects and programs.
Governor-General Mostyn stressed that Australia attaches great importance to its relations and cooperation with Mongolia, a country sharing common democratic values. She noted with satisfaction that people-to-people ties and exchanges have been strengthening year by year, and expressed her delight that young Mongolians educated in Australia are making valuable contributions to their home country’s development. The sides discussed expanding cooperation in education, gradually increasing scholarship quotas, aligning with the “President's Scholar 2100” Scholarship Program, facilitating Australian volunteer teachers to work in Mongolia, and implementing short- and medium-term training programs.
The two Heads of State agreed that, as nations with pastoral and farm-based livestock sectors, overcoming and addressing global challenges such as climate change, desertification, land degradation, and food security constitutes a shared objective. They discussed implementing joint projects and programs in this regard, including with the Australian Centre for International Agricultural Research. They also exchanged views on opportunities for effective cooperation within the National Movements of Mongolia, such as “Billions of Trees,” “Food Supply and Security,” and “Healthy Mongolian.”
The two sides noted their active collaboration and mutual support within the United Nations and other international organisations and expressed commitment to further strengthening regional and international cooperation. In this context, President Khurelsukh extended an invitation for Australia to participate at a high level in the 17th session of the Conference of the Parties (COP17) to the UN Convention to Combat Desertification, which will be held in Ulaanbaatar in 2026.

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The China-Russia Energy Pact: Reshaping Global Markets and Emerging Investment Opportunities www.ainvest.com

The China-Russia energy partnership has entered a new era with the formalization of the Power of Siberia 2 (PoS-2) pipeline, a $13.6–$34 billion infrastructure project that will transport 50 billion cubic meters (bcm) of natural gas annually from Russia's western Siberian fields to northern China via Mongolia. This development marks a seismic shift in global energy dynamics, as two of the world's largest economies deepen their strategic alignment to counter Western influence and diversify energy supply chains. For investors, the pact opens a corridor of opportunities in emerging markets, particularly in Mongolia, Russia, and China, where undervalued equities stand to benefit from infrastructure development, transit fees, and energy distribution.  
A Strategic Shift in Energy Geopolitics
The PoS-2 pipeline is more than a commercial agreement—it is a geopolitical recalibration. For Russia, the project offsets the collapse of European gas exports following the invasion of Ukraine and Western sanctions. European demand for Russian gas has plummeted, leaving Moscow scrambling to find alternative markets. China, meanwhile, seeks to reduce its reliance on volatile LNG imports and diversify its energy mix to fuel industrial growth. The pipeline's 30-year contract horizon ensures a stable revenue stream for Russia and a long-term supply buffer for China, while Mongolia's role as a transit hub could generate up to $1 billion annually in fees.  
This partnership disrupts traditional energy dynamics in two key ways:
1. Reduced U.S. LNG Influence: China's shift toward pipeline gas from Russia could cut U.S. LNG exports by 40 million tons annually, undermining the economic viability of U.S. shale projects.
2. European Energy Vulnerability: With Russia pivoting to Asia, Europe's reliance on costly LNG imports will intensify, exacerbating energy insecurity and inflation.  
Emerging Market Equity Opportunities
The pipeline's construction and operation create a web of investment opportunities across three countries:  
1. Mongolia: Transit Fees and Infrastructure Development
Mongolia's 960-kilometer segment of the pipeline is a critical linchpin. While the country's government has yet to confirm financing details, local firms are poised to benefit from construction contracts and long-term maintenance. Undervalued Mongolian equities include:
- Mongolian Pipeline Construction Firms: Smaller-cap companies like Mongolstroy and Altai Engineering could secure contracts for earthworks, pipeline laying, and ancillary infrastructure. These firms are currently underfollowed by analysts but have strong ties to state-backed projects.
- Logistics and Energy Distributors: Companies such as TransMongolia Logistics may profit from expanded transportation networks and gas distribution hubs.  
2. Russia: State-Owned Energy Giants and Regional Development
Gazprom, the state-controlled energy giant, is the linchpin of the project. While its shares are widely followed, investors should also consider smaller, sector-specific plays:
- Siberian Gas Processing Firms: Companies like SibGasTech and Yakutia Energy could benefit from increased gas production and processing needs.
- Regional Infrastructure Developers: Firms involved in Siberian road and rail upgrades, such as TransSiberia Rail, may see demand surge as the pipeline spurs economic activity in remote regions.  
3. China: Energy Security and Industrial Growth
China National Petroleum Corporation (CNPC) is central to the project, but smaller players in the energy distribution and logistics sectors are also positioned to gain:
- Pipeline Infrastructure Firms: Companies like Sinopipe and China Gas Pipeline Co. could secure contracts for the Chinese segment of the pipeline.
- Industrial Gas Users: Firms in energy-intensive sectors, such as Shanghai Steel Group and Beijing Petrochemical, may see reduced costs and supply stability from the pipeline.  
Risks and Uncertainties
While the project's strategic benefits are clear, investors must navigate several risks:
- Pricing Disputes: Russia's preference for oil-indexed pricing (potentially $265–$285 per 1,000 cubic meters) clashes with China's push for lower rates ($120–$130). A compromise will determine profitability for both sides.
- Financing Delays: The lack of clarity on who funds the Chinese and Mongolian segments could delay construction beyond 2030.
- Geopolitical Tensions: U.S. and European pressure to isolate Russia could complicate project approvals or financing.  
Conclusion: A New Energy Corridor for Investors
The China-Russia energy pact is a masterstroke of strategic diversification, with far-reaching implications for global energy markets. For investors, the pipeline represents a unique opportunity to capitalize on emerging market equities in Mongolia, Russia, and China—sectors that are currently undervalued but poised for growth as the project progresses. While risks remain, the long-term economic and geopolitical alignment between Beijing and Moscow suggests that this corridor will only deepen, offering a compelling case for those willing to navigate the complexities of energy geopolitics.  
By targeting undervalued players in pipeline construction, transit fees, and energy distribution, investors can position themselves at the forefront of this transformative shift. The Power of Siberia 2 is not just a pipeline—it is a blueprint for the future of Eurasian energy integration.

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Korean influencer dies in fall at Mongolian volcano www.chosun.com

A fatal accident occurred in Mongolia’s representative volcanic tourist site, where a famous South Korean travel influencer fell to her death.
The Ministry of Foreign Affairs announced on the 7th that Ms. A, a woman in her 20s, died in a fall at the Uran Togoo Volcano in Bulgan Province, Mongolia, on the 28th of last month.
Ms. A, who had approximately 90,000 followers and primarily operated through Instagram, was reported to have been on a business trip to northern Mongolia when the incident occurred.
A source from the Ministry of Foreign Affairs told TV Chosun, “Ms. A is presumed to have lost her balance and fallen while taking photos atop the volcano due to sudden strong winds, resulting in her death. We are investigating the exact circumstances in cooperation with local authorities.”
The Uran Togoo Volcano stands approximately 1,680 meters above sea level, with a crater diameter of 500–600 meters and a depth of 50–60 meters. The crater interior features grasslands and small ponds, and its unique terrain and geological value make it one of Mongolia’s representative volcanic tourist sites. Currently a dormant volcano, it is known as a trekking destination near the Khovsgol region, which attracts many South Korean tourists.

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MoU Signed with the Financial Services Authority of Kazakhstan www.montsame.mn

Chairman of the State Great Khural of Mongolia Amarbayasgalan Dashzegve and accompanying parliamentary delegation are paying an official visit to the Republic of Kazakhstan from September 4 to 7, 2025.
Within the framework of the visit, which aims to maintain the frequency of high-level exchanges, strengthen mutual trust, enrich the legal foundation of relations, and deepen cooperation at the national and regional levels, Chairman of the Financial Regulatory Commission (FRC) of Mongolia Jambaajamts Tundev and Chairwoman of the Astana Financial Services Authority (AFSA) of the Republic of Kazakhstan Evgeniya Bogdanova signed a Memorandum of Understanding.
The MoU provides for the exchange of information on cross-border financial activities and technical cooperation targeting companies offering fintech-based virtual asset services. The two sides will also collaborate in supporting safe and reliable operations of capital market, insurance, and fintech institutions, extending mutual assistance in financial supervision, and strengthening institutional capacity.
The Memorandum signed between the Financial Regulatory Commission of Mongolia and the Astana International Financial Centre marks a major step toward intensifying bilateral trade and economic cooperation, expanding business sector linkages, and consolidating ties.
The Astana Financial Services Authority is a member of the International Organization of Securities Commissions (IOSCO) and has established bilateral memorandums of cooperation with more than 40 financial regulatory bodies worldwide, working together in the field of financial supervision.

 

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PM Zandanshatar Meets President Putin at the Eastern Economic Forum in Vladivostok www.montsame.mn

Prime Minister of Mongolia, Zandanshatar Gombojav, held official talks with President of the Russian Federation Vladimir Putin on September 5, 2025, during the 10th Eastern Economic Forum in Vladivostok. 
President Vladimir Putin opened the official talks by underscoring his expectation that the participation of the Mongolian delegation in the Eastern Economic Forum would foster more active cooperation with Russia and other partner countries in the Asia-Pacific region. The volume of trade turnover between Mongolia and Russia increased by more than 17 percent compared to 2024, reflecting the increasing scale of bilateral cooperation. In addition, during a trilateral meeting in Beijing with the Heads of State of Mongolia and the People’s Republic of China, the leaders discussed cooperation in energy and infrastructure, agreed to advance major joint projects, and reaffirmed the strategic importance of Russia’s partnership with Mongolia, a neighboring and trusted ally.
Prime Minister Zandanshatar expressed his sincere gratitude to President Putin for supporting the construction of the Power of Siberia 2 gas pipeline through Mongolia and emphasizing the strategic significance for the region. Premier acknowledged that projects of such importance arise less than once in a century, referencing his discussion with Alexei Miller, Chairman of the Board of Directors of Gazprom, and drew upon the renowned Russian scientist Mikhail Lomonosov, recalling his words, “Russian power will grow with Siberia”.
PM Zandanshatar also highlighted the joint commemoration of the 85th anniversary of the Victory of Khalkh Gol in 2024, the 80th anniversary of the Victory in World War II, noting that these historic triumphs represent shared victories of Mongolia and Russia.

 

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Governor-General of the Commonwealth of Australia Samantha Mostyn Arrives for State Visit www.montsame.mn

At the invitation of President of Mongolia Khurelsukh Ukhnaa, Governor-General of the Commonwealth of Australia Samantha Joy Mostyn arrived in Mongolia on September 4, 2025, with a State Visit.
Governor-General Samantha Mostyn and her husband, Simeon Beckett, were received at Chinggis Khaan International Airport by Minister of Foreign Affairs Battsetseg Batmunkh and Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia, Leo Zeng.
This marks the first visit of the Governor-General of Australia to Mongolia in 31 years. The visit is of significant importance to further expand and strengthen relations and cooperation with Australia, Mongolia’s key partner and Third Neighbour in the Indo-Pacific region.
During the visit, President Khurelsukh Ukhnaa and Governor-General Samantha Mostyn will hold official talks to confirm the agreement to elevate bilateral relations to the level of a “Comprehensive Partnership.” The two sides will exchange views on expanding cooperation in potential sectors such as politics, trade, investment, education, and agriculture, enhancing people-to-people ties, and deepening collaboration on regional and international platforms.
In addition, Governor-General Samantha Mostyn will review the implementation of Australian projects and programmes in Mongolia and meet with representatives of the business community.
Mongolia and Australia established diplomatic relations on September 15, 1972. Today, more than 22,000 Mongolian citizens reside in Australia.

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