Mongolia and China to build 19.5km cross-border railway by 2028 www.constructionbriefing.com

EU to invest €12 billion in Central Asia www.miningmagazine.com

Underground Mass Mining Institute Launches in Mongolia www.jktech.com.au

Training has started at the new South Gobi Underground Mass Mining Institute (SGUMMI), which was established by mining company Rio Tinto and is managed by JKTech Pty Ltd, the knowledge transfer vehicle of The University of Queensland’s Sustainable Minerals Institute (SMI). 
Andre van As
SGUMMI project lead Professor Andre van As, from SMI’s WH Bryan Mining Geology Research Centre (BRC), said the aim is to help alleviate the global mining skills shortage by providing a regional practical training hub that combines academic and practical industry knowledge. 
“This initiative will address the critical skills gap in the underground mining sector, making a substantial global impact while developing essential expertise in underground, hard rock mass mining in Mongolia,” Professor van As said. 
The launch of the Institute is the culmination of years of program development and research in the  BRC’s Deep Mining Geoscience Group and training will be delivered by global industry subject matter experts, using Rio Tinto’s Oyu Tolgoi mine in southern Mongolia as a practical training hub.  
“Our aim is for the Institute to establish itself as a strategic hub for mining education in Asia, benefiting the local Mongolian mining community and contributing to the global mining workforce,” Professor van As said. 
“It’s an amazing feat of engineering, technological advancement and safety standards – skills and knowledge that we’ll continue to develop locally with the establishment of the South Gobi Underground Mass Mining Institute,” Mr Stausholm said. 
JKTech Pty Ltd CEO Mark Noppé said that JKTech Pty Ltd has a long track record of providing professional development all over the world.   
“With background and expertise from subject matter experts in underground mining, geotechnics, and mining engineering, SGUMMI will be able to help address industry’s demand and help solve skill deficiencies,” Professor Noppé said. 
Related Work
SMI’s Centre for Social Responsibility in Mining (CSRM) also designed and delivered a training program to build the Mongolian mining industry’s capacity to deliver sustainable mining and support green energy transition program, via the Australia-Mongolia Partnership  
For more information on the CSRM program: https://global-partnerships.uq.edu.au/.../australia-and....

The Government of Mongolia to Issue Securities on the Domestic Market www.montsame.mn

The Ministry of Finance of Mongolia will begin openly trading domestic government securities on April 16, 2025, to support the securities market and establish a benchmark interest rate for tugrug bonds in the financial market. This will mark the first time in eight years that such securities will be offered. 
The Government of Mongolia is offering investors reliable, low-risk, and highly liquid securities that provide stable returns with tax-free interest income. A key advantage for bondholders is the ability to use their bonds as collateral for payments and other guarantees.
Initiating the trading of these domestic securities is pivotal. It will help establish a benchmark base yield rate and ensure bond valuation aligns with international standards. Furthermore, it's expected to foster the development of the domestic bond market and increase participation from professional investors, including open-ended and closed-ended mutual investment funds.
The Financial Regulatory Commission of Mongolia views the launch of trading for these domestic securities as a major catalyst that will boost the engagement of individuals and businesses in the capital market.

Young Mongol Football Players to Attend Training Session with Fulham FC www.montsame.mn

Under the "Go Mongolia" National Brand, implemented by the Government of Mongolia and the Ministry of Culture, Sports, Tourism, and Youth of Mongolia, the Fulham Football Club is actively promoting Mongolia to the world.
Under this collaboration, 11 of Mongolia's top youth football players departed for London, the capital of England and the United Kingdom, on April 4, 2025. According to the program, the young athletes will participate in professional training sessions at Fulham FC's training facility on April 2-7, 2025. Additionally, on April 6, they will attend the match between Fulham and Liverpool as invited guests.
This partnership holds high importance, aiming at nurturing future players for the Mongolian national football team, inspiring young football enthusiasts, and motivating youth to train in sports.
Notably, as part of the ongoing cooperation between the "Go Mongolia" National Brand and Fulham FC, the club's coaches visited Mongolia last year. They conducted training sessions and a selection process involving over 160 children, from which these top 11 players were chosen.

The Tuul Water Complex Planned for Construction Between 2025–2032 www.montsame.mn

As part of the 24 Mega Projects for Ulaanbaatar City Development, the Tuul Water Complex will be built between 2025–2032 on a 5,569 square meter area.
Currently, Ulaanbaatar City’s residents rely 100 percent on groundwater, using between 185,000 to 225,000 cubic meters of clean water per day. By 2040, daily water demand is projected to increase to 772,450 cubic meters. To meet this rising demand, flow-regulating dams will be constructed on the Tuul and Terelj rivers, enabling the use of surface water through the development of the Tuul Water Complex. Preliminary studies have identified 3–4 potential dam site options.
The Tuul Water Complex will have the capacity to store 50–100 million cubic meters of water. The planned dam will be 685.15 meters long, 35.8 meters high, and 19.84 meters deep at its deepest point. The Complex is intended to serve multiple purposes, including protecting the capital city from flood risks, ensuring a reliable source of drinking water, maintaining the ecological balance of the Tuul River, and generating electricity.

Human Rights: EU and Mongolia hold dialogue in Ulaanbaatar www.eeas.europa.eu

The European Union and Mongolia held the seventh Human Rights Dialogue on 2 April in Ulaanbaatar. 
The dialogue was conducted in an open and constructive atmosphere and provided the opportunity to discuss a broad range of human rights related issues. The EU and Mongolia reviewed recent developments and updated each other on respective human rights policies and priorities for action. They reaffirmed their commitment to the universality and indivisibility of human rights and to the full implementation of the Partnership and Cooperation Agreement, including to further strengthening cooperation on human rights and the rule of law.
The EU informed about the extension of the EU Action Plan on Human Rights and Democracy until 2027, aligning it with the EU Multi-Annual Financial Framework 2021-2027. Mongolia shared information on recent developments in the country, policy and legislative initiatives in the area of human rights.
Mongolia and the EU discussed cooperation in international human rights fora, including the UN General Assembly. They agreed to strengthen their cooperation in the framework of the Alliance for Torture-Free Trade. Mongolia informed about its forthcoming United Nations Universal Periodic Review.
The EU and Mongolia exchanged on the situation of media freedom, including the protection of journalists and media workers and the fight against disinformation and hate speech. The EU welcomed Mongolia’s plans to reform the Law on Media Freedom, including efforts to establish a legal framework that will protect the freedom of press organizations, and encouraged Mongolia to ensure that new legislative initiatives be aligned with relevant international human rights law and that the freedom, independence and plurality of Mongolia press and media be fully guaranteed. 
The EU and Mongolia discussed the situation of fundamental freedoms, including freedom of opinion and expression and freedom of assembly. The EU expressed concern for the extensive use of the Law on State Secret, which lacks a precise scope and clear definitions, calling on Mongolia to always ensure that due process guarantees be respected. The EU asked for clarification on the recent cases related to the recommendations of the UN Working Group on Arbitrary Detention following its visit to Mongolia in October 2022.
The EU welcomed the work of the National Human Rights Commission of Mongolia and of the Subcommittee on Human Rights of the State Great Hural (Parliament).
Mongolia briefed on the new draft law presented in December 2024 on the Freedom to Hold Peaceful Demonstrations and Gatherings. The EU encouraged Mongolia to ensure that all legislations, policies and practices fully align with its obligations under the International Covenant on Civil and Political Rights (ICCPR).
Gender equality, including political participation of women, as well as gender-based violence were also discussed during the dialogue. In this context, the EU and Mongolia also exchanged on the follow up of the Concluding Observations of the UN Committee on the Elimination of Discrimination Against Women (CEDAW). The EU and Mongolia also discussed means to improve the economic empowerment of women.
The EU highlighted in particular the need to adopt comprehensive legislation prohibiting discrimination, including multiple, direct, and indirect discrimination on all grounds prohibited under international law. Violence against children and in armed forces was also discussed, along with fight against discrimination, with a focus on persons with disabilities and LGBTI persons. The EU called on Mongolia to take more decisive action concerning violence against children, including child rapes.
The EU welcomed the judicial reforms undertaken by Mongolia and encouraged Mongolia to pursue the work being undertaken in strengthening the judicial system and ensuring its independence. Recalling the relevant support provided by through TAIEX and Twinning, the EU called on Mongolia to ensure that sufficient funding be provided to the justice system.
The EU encouraged Mongolia to continue its efforts to combat child labour, including in rural areas and in hazardous work. In this respect, the EU expressed particular concern for the rights and protection of children employed as jockeys in horse races, regretting the recent government decision to transfer the rights to organize these races to local authorities. The EU urged the Government of Mongolia, as well as all relevant stakeholders, including local authorities, parents, guardians, horse owners, trainers and the public, to uphold Mongolia’s commitment under international human rights law.
In the area of economic, social and cultural rights, Mongolia informed about measure to fight pollution and related health consequences. The EU recalled the adverse effects that climate change and environmental degradation, including air pollution, have on the full enjoyment of human rights, including the right to health and to life, and encouraged Mongolia to engage in dialogue with civil society and environmental activists on this important issue.
Mongolia updated on the implementation of the Human Rights and ILO conventions under the GSP+. The EU recalled the importance of fulfilling GSP+ related commitments and provided an update on its priorities for the 2024-2025 monitoring cycle.
The meeting was co-chaired by Nicoletta Pusterla, Deputy Head of Division for China, Hong Kong, Macao, Taiwan and Mongolia at the European External Action Service and by Soyolmaa Jambaldorj, Director General of International Treaty and Law Department, Ministry of Foreign Affairs of Mongolia.

Second Phase of the Sustainable Textile Production and Eco-Labeling Project Launched www.montsame.mn

The second phase of the European Union-funded “Sustainable Textile Production and EcoLabeling" (STeP EcoLab) Project has been officially launched.
The project aims at supporting environmentally friendly and socially responsible production in the Mongolian wool and cashmere sector. The first phase of the project was implemented from 2018 to 2022, during which the amount of certified and traceable raw materials was increased 10 times by working with herders’ cooperatives and more than 20 domestic manufacturers.
As a result of the project, the MNS 6926-2021 “Sustainable Textile Production” standard, the first sustainability standard in Mongolia, was developed and approved. As the Mongolian Wool and Cashmere Association’s Certification Body certifies wool and cashmere processing plants in accordance with the standard, green loans started to be provided to the factories under the “White Gold” National Movement.
The goal of the “STeP EcoLab 2” Project is to enable Mongolian micro, small, and medium-sized enterprises to join international green supply chains.  The Project will focus on engaging micro, small, and medium-sized enterprises in the preparation of sustainable and certified raw materials, strengthening eco-labeling and certification systems, gaining international recognition, and creating a favorable environment for the transition to environmentally friendly and sustainable production in the textile processing sector. The project will also support more than 8,000 herding households and 180 cooperatives in Bayankhongor, Uvurkhangai, and Arkhangai aimags.

Mining consolidation to speed up as Chinese demand growth slows www.reuters.com

Joint ventures and asset sales are expected to accelerate in the mining industry, which is ripe for consolidation due to the slowdown in manufacturing and demand growth for industrial metals, particularly in top consumer China.
However, full-scale mergers and acquisitions activity among diversified miners could be hampered for now by prohibitive high costs and significant chances of eventual rejection, investors said ahead of a global gathering of the copper industry for the CESCO event in Santiago, Chile next week.
Reluctance to engage at a company level is seen in LSEG data showing M&A in mining sector fell 27% in value terms to $15 billion in the first quarter compared to the same 2024 period.
Since the start of 2024, BHP’s shares have slumped 26% and Rio Tinto has dropped 23%, while Glencore’s shares have collapsed 42%.
Companies such as BHP and Rio Tinto have robust balance sheets and are delivering handsome returns to shareholders, but they are approaching a period of stalled earnings growth.
With no other country able to pick up the slack left by China and trade wars triggered by US President Donald Trump’s import tariffs, miners are thinking more about creating value and strength through scale.
“We are seeing more discussions about partnering, joint ventures and asset sales,” said George Cheveley, portfolio manager at Investment Manager Ninety One.
“We’re more likely to see smaller deals rather than wholesale takeovers. They are easier regulation wise and an easier way of improving your asset base and derisking your portfolio.”
Australia-listed BHP also recently formed a joint venture – Vicuña – with Lundin Mining. Vicuña now owns the Filo copper project in Argentina and the Josemaria project in Chile.
Struggling with declining ore grades BHP is planning to invest $10.8 billion over a period of 10 years in Chile starting with the Escondida operation
Instead of investing for growth, some have typically opted to boost shareholder returns with dividends and share buybacks.
“Our analysis suggests that valuation multiples are not responding to higher payout ratios and buybacks are no longer delivering strong returns making the pivot to growth more appealing,” said James Whiteside, head of corporate for metals and mining at Wood Mackenzie.
“Diversified companies seeking relevance through big payouts aren’t being rewarded, but the read across from copper miners is, investing in production growth pays.”
Historical precedents
“Historically, merger discussions often occur either at the very top of the cycle, because mining companies have a lot of money, or at the very bottom of the cycle, because there’s a need to find ways to create value,” said Christel Bories, chairman of French mining group Eramet.
The ball started rolling in April 2023 when London-listed Glencore’s attempt to buy Teck Resources for $23 billion was rejected. Glencore instead bought Teck’s metallurgical coal portfolio for $7 billion.
But it was when the world’s biggest miner BHP went hostile with a $49 billion bid for Anglo American, the mining world understood a restructuring of the industry was on the horizon.
“It’s important in the mining world for BHP to kick off the M&A cycle because it makes it easier for other CEOs to sell the idea to their boards,” said Liberum analyst Tom Price.
What has made selling the idea of M&A to company boards easier this time are forecasts of rocketing copper demand partly due to power grid replacement and upgrades and e-mobility which includes electric vehicles, scooters and bikes.
Information provider Benchmark Mineral Intelligence (BMI)expects copper demand from these two end-use segments will total 4 million metric tons in 2030 or 13% of global refined demand from 2.6 million tons or 9.5% this year respectively.
Overall, miners need to invest $200 billion to increase their copper production by 9.6 million tons, according to consultancy Wood Mackenzie.
China with its massive manufacturing sector accounts for roughly 55% and 50% of global consumption of copper and aluminum used in transport, packaging and construction.
“While stimulus is probably required, China’s various strategies over recent years have only stabilized activity in its commodity-intensive property/infrastructure sectors. They remain quite weak,” said Liberum’s Price.
(By Pratima Desai, Gus Trompuz and Divya Rajagopal; Editing by Veronica Brown and David Evans)

Aus-British miner's plight in Mongolia has 'chilling effect' on investment www.miningmagazine.com

One man's plight in Mongolia is having a "chilling effect" on foreign capital inflow, according to his advocates, which comes in stark contrast to the warm and welcoming message the young and emerging democracy is trying to send to international investors. 
A citizen of both Australia and the UK, Mohammed Munshi has been detained by authorities in the landlocked country for more than a decade due to issues relating to his dealings as chairman of Gobi Coal and Energy Limited. 
Munshi was accused of defrauding investors by raising large sums of money for Mongolian mineral projects under false pretenses.
He is accused of failing to deliver on promises to list shares of the license-holding company on stock exchanges, with prosecutors arguing that he instead funneled funds into offshore accounts, failing to develop the mineral deposits.
During the decade-plus detainment, Munshi served a seven-year prison term, which ended mid-last year.
However, his court-imposed travel ban remains in place and is reportedly to remain so unless he pays his former Mongolian business partner almost 32 billion tugriks, or US$14.5 million. 
His advocates cite alleged mishandling by the Mongolian authorities from early on in the ordeal. 
One such advocate, Heretic Law partner Alison Battisson has been drumming up support for the sexagenarian and applying pressure on the Australian and British governments to intervene. 
Within the past three months, she has been interviewed by national Australian news outlets, The Australian, ABC, and SBS. 
She has also helped to prepare recent complaints regarding the situation to the UN Human Rights Council and UN Special Rapporteurs on Torture, Health, and Older Persons. 
A decade being ‘tortured, beaten, starved'
"Mr Munshi has spent the last decade being tortured, beaten, starved, religiously abused, living in disgusting conditions with open flowing toilets and at times completely cut off from the world," Battison was quoted as saying by The Australian in an article published on March 23. 
A spokesperson for Australia's Department of Foreign Affairs and Trade (DFAT) told Mining Journal that it is providing consular assistance to Munshi, including advocating to Mongolian authorities for the lifting of his travel ban on humanitarian grounds. 
"We also convey our expectations that Australians are entitled to due process, humane and fair treatment and access to their legal team.
"Owing to our privacy obligations we are unable to provide further comment," the spokesperson said. 
‘The Mo Munshi case is having a chilling effect on investment'
Battisson and fellow advocates have been keen to link Munshi's plight to inbound foreign investment in Mongolia, which is crucial to the resources-rich country's plans to double its heavily mining-dependent GDP by the end of the decade. 
Another Munshi advocate, former member of the UK Parliament and chair of the Mongolian-British Chamber of Commerce, John Grogan, told The Australian that the case could be "extremely damaging" to perceptions about Mongolia. 
"I am a big supporter of Mongolia and have visited the country 51 times but I have to tell my many friends there that the Mo Munshi case is having a chilling effect on investment and trade," he said. 
Battison said Munshi's treatment by the Mongolian judiciary and government "should serve as a warning to foreign investors in Mongolia". 
DFAT did not reply when asked whether the situation has negatively affected trade relations between the two countries. 
Mongolia's Ministry of Justice and Internal Affairs was not available for comment. 
‘Under threat of kidnap, his family fled'
On March 4, former Gobi Coal geologist, Mike Pole, recalled the events of the past decade in his blog, which has gained some press attention.
The complaint filed to the UN reportedly said the underlying accusation against Munshi was that he made statements to Chuluunbaatar Baz about how well GCE would perform and that he had suffered $25.5 million in losses as a result. 
Mining Journal attempted to contact Baz via Monnis Group, of which he is chief executive and president. There was no response. 
Pole's recollection is: "The case involved Gobi Coal and Energy making collateralised loans to a Mongolian company, owned by the Plaintiff's brother, who defaulted and was then taken, in 2015/2016, to the HKIAC Court in Hong Kong by GCE—who won the case. 
"The Plaintiff was an investor and shareholder in GCE Limited. Munshi was originally invited back to Mongolia in 2015 to discuss the issue and others, but was then detained. 
"He was then told, during the investigation period, by the police and prosecutors, that he would be permitted to leave Mongolia only if he paid the Plaintiff/CEO of the Mongolia investors company several million dollars, and waived his brother's collateralised loan and/or transferred to him the assets of Gobi Coal and Energy in Mongolia," he said.
Pole accused the Mongolian authorities of "a clear attempt to intimidate" by using an earlier version of the law "which had a more draconian sentence" before the Supreme Court reduced the sentence to seven years using the new law. 
"Under threat of kidnap, his family fled China to Australia," he added. Details of the allegation were reportedly included in the complaint to the UN. 
The UN complaint reportedly details Munshi's time in the maximum-security prison, including allegations of a lack of communication and medical treatment, as well as physical and verbal abuse and inhumane living conditions.
The Australian quotes the UN complaint to say, "Mr Munshi was told, multiple times throughout the course of his imprisonment, that he would be released and allowed to leave Mongolia if he paid off Chuluunbaatar Baz". 
Companies doing business in Mongolia
Australian-British Rio Tinto is serving as something of a test case given the scale of its operation at the Oyu Tolgoi copper mine in the South Gobi region.  
In December, Rio's chief executive for copper Katie Jackson told shareholders that Mongolia is "very much at the heart" of the mining giant's growth strategy. 
The relationship between the company and the country, however, has not been without its issues. 
Along with a lingering tax dispute, contractors, including Australians, Americans, and Canadians, working on the Oyu Tolgoi mine had their passports confiscated before being told to leave the country during a tense stand-off with the Mongolian government over a visa row. 
"When I visited Mongolia in October, I was really impressed by the high level of national participation. Our workforce is now 97% Mongolian, a crucial indicator of our focus on growing OT's social licence," Jackson said. 
"This is particularly important as we continue to focus with our government partners on resolving legacy shareholder issues," she said. 
She explained some of the issues as being "frictions around applications of investment frameworks and detailed applications of tax", which can cause "a little bit of grit in the relationship". 
"We need to work on that alignment and that future vision," she said. 
When questioned by Mining Journal whether Munshi's situation had factored into any of the company's decision-making or if it was aware of investment being affected, Rio was not available for comment. 
By Nathan Richardson