National Firms to Jointly Mine Borteeg Coal Deposit montsame.mn

Ulaanbaatar, June 10, 2026 /MONTSAME/. MONTSAME National News Agency, in cooperation with MICC Mongolia International Capital Corporation LLC, is delivering a weekly overview of domestic and international capital markets and economic developments to its readers.

Weekly Capital Market and Economic Review (June 2–June 8, 2026)

MONGOLIAN STOCK EXCHANGE

A total of 5.6 million securities worth MNT 11.54 billion were traded on the Mongolian Stock Exchange over the past week. In terms of trading value, leading companies included MGL Aqua JSC, MIC Holding JSC, Khan Bank JSC, Invescore NBFI JSC, and Trade and Development Bank JSC. During this period, three block trades were executed, specifically:

• 2.9 million shares of MGL Aqua JSC (MGLA) at MNT 250 per share, totaling MNT 749 million;
• 45.4 thousand shares of Invescore NBFI JSC (INV) at MNT 8,000 per share, totaling MNT 363.9 million;
• 55.1 thousand shares of MIC Holding JSC (MIK) at MNT 1,275 per share, totaling MNT 725.7 million.

All major indices of the Mongolian Stock Exchange closed lower last week, while overall market conditions remained relatively stable. The TOP-20 Index declined by 0.02% to 51,347.33 points. The MSE A Index fell by 0.80% to 19,565.06 points, indicating reduced trading activity in high-cap stocks. Meanwhile, the MSE B Index recorded the largest drop, falling by 0.91% to 14,196.18 points, reflecting relatively weak movement among smaller-cap stocks. Overall, the decline was evenly distributed across all market segments.

EFFORTS INTENSIFY TO BRING BORTEEG COAL DEPOSIT INTO ECONOMIC CIRCULATION

The Government of Mongolia has set a target to bring the Bortee coal deposit into economic circulation starting in 2026, with plans to mine 15 million tonnes of coal annually and export 10 million tonnes. The deposit contains total reserves of 424 million tonnes, of which 95% is weakly coking coal and 5% is thermal coal.

As part of the project, the government has conducted an open selection process for foreign investors, aiming to generate an additional USD 1 billion in revenue. As a result, Erdenes Tavan Tolgoi JSC submitted the highest-rated proposal and will manage the deposit while conducting extraction in cooperation with domestic enterprises.

Under the contract terms, Mongolia’s share of the benefits is estimated at 70%, with the possibility of receiving a total advance payment of USD 1 billion within the first five years.

Among other bidders, China’s Baowu Resources offered a USD 600 million advance payment with a 51.7% share, while China Energy Materials & Technology Xuzhou proposed a USD 1 billion advance but with a 51% share for Mongolia.

However, attention is drawn to Mongolia’s prior long-term coal supply agreement with China, under which the country is obligated to supply coal at discounted prices for 16 years. As a result, despite a state-owned company winning the tender, there remains a risk that the actual economic benefits of the deposit may be reduced, while the Chinese side could retain a more advantageous economic position.

FROM RAW MATERIALS TO FINAL PRODUCTS: WHAT CHANGES WILL THE “WHITE GOLD” PROGRAM BRING TO LIGHT INDUSTRY?

One of the major weaknesses of Mongolia’s economy is its heavy reliance on the mining sector. Mining accounts for around 70% of industrial output, while 86% of exports are directed to China. In other words, any decline in Chinese demand or global commodity prices directly shocks the Mongolian economy. To address this vulnerability, developing other sectors has become essential—among them, the cashmere industry stands out as a highly promising solution.

Although Mongolia is among the world’s leading suppliers of wool and cashmere, it does not fully capitalize on this resource. Agriculture contributes only about 10% of GDP, and despite overall economic growth of 7% last year, the sector itself contracted by 8.9%. Foreign investment in agriculture remains extremely low, totaling just USD 1.2 million in 2023.

While 95% of agricultural exports consist of cashmere, only 25% is processed domestically, with the remaining 75% exported as raw material. As a result, profits from value-added products remain minimal. Estimates suggest that fully processing these raw materials domestically could generate up to USD 1.5 billion in additional annual revenue.

The “White Gold” national program is designed to address these shortcomings. With a budget of MNT 2.2 trillion over three years, it aims to:

• Increase domestic processing from 20% to 40%;
• Boost cashmere exports from USD 398 million to USD 690 million;
• Expand total production from MNT 1.5 trillion to MNT 2.3 trillion.
 
The program is also expected to create over 8,200 new jobs, marking a significant transformation for the sector.

However, a key concern remains whether the program will effectively reach its target beneficiaries. While 31.2% of the funding will come from the state budget, the remainder is planned to be financed through bank loans—potentially limiting access for small and medium-sized enterprises.

Urin.N

Mongolia Hosts International Pasture Management Dialogue Ahead of COP17 www.montsame.mn

Ulaanbaatar, June 10, 2026 /MONTSAME/. An international policy dialogue titled “Reforming Rangeland Governance Through Stakeholder Participation” opened on June 9 in Ulaanbaatar.

The meeting has brought together representatives of government agencies, civil society organizations, and herders from 13 countries across Central Asia, South Asia, East Africa, West Africa, Europe, the Middle East, and North Africa in addition to Mongolia. Participants are discussing responses to climate change, sharing good practices in inclusive and participatory sustainable rangeland management, highlighting the role of pastoralists in climate adaptation and biodiversity conservation, and exploring opportunities for expanding interregional cooperation.

Organizers noted that the dialogue is taking place at a critical time for the world's rangelands and pastoral communities. An estimated 500 million pastoralists worldwide depend on livestock herding across lands covering more than 40% of the Earth's surface. Rangelands represent the world's largest terrestrial ecosystem, and their sustainable management is essential for climate resilience, biodiversity conservation, and food security.

Javkhlan Bayarsaikhan, Advisor to the President of Mongolia on Civil Society Policy and Program Coordination, said, “This year, Mongolia is preparing to host the 17th session of the Conference of the Parties to the United Nations Convention to Combat Desertification (COP17) at the initiative of the Government of Mongolia. In addition, the United Nations General Assembly proclaimed the International Year of Rangelands and Pastoralists at Mongolia's initiative, and today's event is being organized within that framework.

“The Office of the President has also established the National Green Platform. Through this platform, we receive, select, and support projects aimed at improving rangeland management and the sustainable use of natural resources. Professional organizations provide free technical advice and assistance to improve these projects".

“To date, 135 projects have been submitted, and 15 have been selected. We plan to present them to international investors during COP17 and develop the platform into a mechanism for attracting investment".

“These initiatives not only support domestic policy implementation but also create important opportunities to strengthen Mongolia's policy influence on the international stage and attract investment.”

Altantuya Ts., President of the National Association of Agricultural Cooperatives, said, “Mongolia's experience demonstrates that rangeland governance can be strengthened when herders, government institutions, and civil society work together. This dialogue provides an opportunity to share solutions, strengthen partnerships, and advance policies that support pastoralism.
” She added, “Mongolia has implemented numerous initiatives and projects aimed at improving rangeland management and governance, and tangible results are beginning to emerge. One positive progress is that more herders are trying to keep livestock numbers at levels compatible with the carrying capacity of pastures. However, this must be achieved without reducing herders' livelihoods and incomes. For this reason, projects are focusing on improving the quality and productivity of livestock products and developing value-added supply chains.”

Munkhnasan Ts., an expert at the Ministry of Food, Agriculture, and Light Industry, said, “Our ministry is actively pursuing legal reforms to improve rangeland governance and strengthen institutional capacity so that Mongolia can take a leadership role internationally.
“As part of COP17, which Mongolia will host in August, we plan to present three declarations prepared by pastoral communities: the Herders' Declaration, the Young Herders' Declaration, and the Women Herders' Declaration. This discussion is intended to gather comments and feedback on the initial drafts of these documents.”
He also noted: “Approximately 73 percent of Mongolia's territory consists of pastureland and hayfields. Research indicates that around 70 percent of the country's pastureland has experienced some degree of degradation. Therefore, reducing pasture degradation and improving pasture use have become urgent priorities.
“To achieve this goal, the time has come to introduce economic, business, trade, market, and management instruments. The most effective solution is to reduce grazing pressure by increasing herders' incomes, improving the utilization of livestock-derived products, and strengthening supply chains.

“A key policy objective is to bring all livestock-derived raw materials—including hides, wool, cashmere, and by-products—into the economic cycle and ensure that the resulting benefits reach herders directly.”

Maamankhuu S., a herder from Khanbogd soum of Umnugobi aimag, said, “I have been herding livestock for 60 years and have experienced both the rewards and hardships of pastoral life. Over the years, I have also participated in activities organized by international organizations and gained considerable experience.
“Recently, people have been saying that there are almost no young herders left in Mongolia. In reality, young herders do exist, but their voices are rarely heard and often remain invisible. Some university graduates are returning to rural areas and taking up herding, yet their achievements receive little public attention. Their work and contributions deserve greater recognition.

“For example, some young herders milk up to 100 camels a day, producing 50 to 60 liters of milk and earning MNT 500,000 to 600,000 daily. There are many successful examples like this, but they often go unnoticed and unsupported".

“Therefore, we need to highlight and promote the achievements of educated young people who choose to work in rural communities. The upcoming COP17 conference in Mongolia will provide an important opportunity to showcase Mongolia's livestock sector internationally, exchange experiences, and share practical success stories.”

The dialogue is jointly organized by the Ministry of Food, Agriculture, and Light Industry, the International Land Coalition (ILC), the National Land Coalition of Mongolia (NLC), and the Food and Agriculture Organization of the United Nations (FAO). It forms part of the International Year of Rangelands and Pastoralists and the International Land Coalition's “Pastoralism Matters” campaign.

Organizers aim to produce concrete policy recommendations that will directly contribute to discussions at COP17.
The main sessions of the meeting are being held at Millennium Plaza Hotel in Ulaanbaatar from June 9 to 11. Activities showcasing Mongolia's nomadic heritage and traditional way of life to international guests are scheduled to take place in Bornuur soum, Tuv aimag, from June 11 to 13.

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Foreign Trade Turnover Reaches USD 13.4 Billion www.montsame.mn

Ulaanbaatar, June 10, 2026 /MONTSAME/. Mongolia traded with 145 countries during the first five months of 2026, with total foreign trade turnover reaching USD 13.4 billion, according to the National Statistics Office. Exports amounted to USD 8.5 billion, while imports totaled USD 4.9 billion, resulting in a trade surplus of USD 3.6 billion.

Compared to the same period last year, total trade turnover increased by 34.6% (USD 3.4 billion), exports rose by 56.9% (USD 3.1 billion), and imports grew by 8.1% (USD 367.5 million). The trade surplus expanded more than fourfold.

The growth in exports was mainly driven by higher shipments of copper concentrate, coal, gold, and lead concentrate. Copper concentrate and gold accounted for 49.7% of total exports, up 23 percentage points from a year earlier.

Mineral products, precious stones and metals, jewelry, and textiles made up 97.6% of total exports. China remained Mongolia's largest export destination, receiving most of the country's coal and copper concentrate exports, while nearly all exports to Switzerland consisted of unprocessed and semi-processed gold.

On the import side, increases were recorded in diesel fuel, gasoline, tires, and iron structures and components. Mineral products, machinery and equipment, electrical goods, vehicles and parts, and base metal products accounted for 71.9% of total imports.

China supplied 38.8% of Mongolia's imports, followed by Russia (29.7%), Japan (8.7%), the Republic of Korea (3.7%), the United States (3.3%), and Germany (2.1%), together accounting for 86.3% of total imports.

During the reporting period, gasoline imports reached 450,000 tonnes, up 36.2% year-on-year, while diesel fuel imports increased 15.5% to 820,300 tonnes. Gashuunsukhait and Zamiin-Uud ports handled 74.2% of Mongolia's total exports.

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Construction Sector Creates Over 100,000 Jobs as of 2025 www.montsame.mn

President Khurelsukh Ukhnaa met with representatives of the urban development, construction, housing, and public utilities sectors. The President congratulated generations of employees and professionals in the construction sector on the historic 100th anniversary of the establishment and development of Mongolia's construction industry, noting the sector's significant contribution to economic growth, social development, and the improvement of living standards.

During the meeting, President Khurelsukh briefed participants on the work carried out since assuming office, the implementation of national movements, campaigns and programs, Mongolia’s foreign relations, and the country’s current socio-economic situation.

According to official figures, construction and major renovation works reached MNT 11.7 trillion by the end of 2025, accounting for approximately 3.5% of Mongolia’s GDP.

Minister of Urban Development, Construction, and Housing Bat-Amgalan Enkhtaivan said the ministry aims to introduce legal reforms, optimize the sector's institutional framework, introduce advanced technologies, strengthen links between research and industry, increase investment, and improve construction standards and regulations.

Draft revised laws on Construction, Urban Development, and Housing, along with a draft law on a specialized housing bank, are being prepared for submission to Parliament.

More than 100,000 jobs had been created in the construction sector as of 2025. However, challenges including overloaded infrastructure and public services, air, water, and soil pollution, traffic congestion, and limited access to public services continue to undermine citizens' living conditions and their right to live in a healthy and safe environment.

To address population concentration and create new settlement centers, President Khurelsukh issued a decree to establish the new city of Kharkhorum in the Orkhon Valley, a project that is being implemented in phases.

Moreover, during his tenure as Prime Minister, several major development projects were launched and commissioned, including the 1,008-unit Nogoon Nuur housing project, the Solongo 1 and Solongo 2 residential developments comprising 5,002 apartments, as well as a water purification plant, a wastewater recycling plant, and a wastewater treatment facility.

World Horse Day Main Events Set for July 13 at Khui Doloon Khudag www.montsame.mn

Mongolia is set to celebrate “World Horse Day” on July 11-13, 2026, in cooperation with the countries that co-sponsored the United Nations resolution establishing the observance.

The celebration aims to promote horse culture, traditions, and the valuable heritage of nomadic civilizations worldwide. Guests and delegations from 56 countries are expected to gather in Mongolia to participate in a series of ceremonial, academic, cultural, artistic, and sporting events dedicated to equine heritage, including a parade of 10,000 horse riders.

The main events of “World Horse Day” will take place on July 13 at Khui Doloon Khudag, near Ulaanbaatar. Preparations are underway, including the development of power supply systems, engineering infrastructure, and site improvements.

The 79th Session of the United Nations General Assembly discussed and adopted the draft Resolution on Proclaiming July 11 “World Horse Day,” initiated by President of Mongolia Khurelsukh Ukhnaa, on June 3, 2025. The resolution was co-sponsored by 56 countries and recognizes the historical and contemporary contributions of horses to human civilization. The resolution also calls for the preservation of equine heritage, pasturelands, and nomadic pastoral traditions.  

Japan, Mongolia agree to advance strategic partnership www.japantoday.com/

Japan agreed with Mongolia on Tuesday to further strengthen its "special strategic partnership" to promote peace and prosperity in the region.

Foreign Minister Toshimitsu Motegi thanked his visiting counterpart, Batmunkh Battsetseg, in Tokyo for Mongolia's understanding and cooperation on the long-standing issue of North Korea's past abductions of Japanese nationals, according to Japan's Foreign Ministry.

At the outset of the meeting, Motegi said Japan hopes to work closely with Mongolia, a strategically important landlocked nation between China and Russia

He also expressed Japan's willingness to assist in the expansion of Chinggis Khaan International Airport, seen as key to improving connectivity.

Battsetseg thanked Japan for its support, and the two ministers agreed to hold a vice minister-level strategic dialogue at an early date.

Mongolia seeks EU visa deal amid growing geopolitical ties and trade talks www.brusselstimes.com

Six Members of the European Parliament visited Mongolia from 26 to 30 May, holding talks with politicians, ministers, businesses and civil society as part of an inter-parliamentary tour of Central Asia, including on EU visa liberalisation.

The delegation was led by Giuseppina Princi, Chair of the European Parliament delegation for relations with Central Asia and Mongolia, and included MEPs Sven Simon, Vytenis Povilas Andriukaitis, Thierry Mariani, Jonas Sjöstedt and Chiara Gemma, the European External Action Service (EEAS) informed on Tuesday.

“Mongolia represents a strategic partner for the European Union at a decisive geopolitical crossroads,” Princi said, citing the country’s location between Russia and China and its “commitment to strengthening ties with Europe.”

The centrepiece of the visit was the 18th EU–Mongolia Inter-Parliamentary Meeting, held at the State Palace in Ulaanbaatar and co-chaired by Mongolian MP G. Temuulen and Princi.

Trade between the EU and Mongolia totals about $1 billion, with imports accounting for 91% and exports 9%, Mongolian MP E. Bolormaa told the meeting.

Mongolian MPs raised issues including co-operation on cybersecurity, data protection and tackling online disinformation, while also discussing a Geographical Indications Agreement — a system that protects product names linked to specific regions — and Mongolia’s use of the EU’s GSP+ trade scheme.

Visa facilitation request raised in talks
Deputy Speaker J. Bat-Erdene told the delegation Mongolia was interested in visa facilitation and working with the EU on issues including disinformation and geographical indications, the EEAS informed.

Princi noted the European Parliament had formally submitted a request to the European Commission and EU Council to start a visa facilitation agreement with Mongolia, modelled on the framework used with Kazakhstan.

During the visit, the delegation also met Mongolia’s Minister of Energy, Naidalaa Badrakh, to discuss energy sector reforms, renewable energy potential and energy co-operation.

The group visited the Mongolian Wool and Cashmere Association and the Evseg Cashmere Factory, and later travelled to Baganuur District to tour Baganuur Electromechanical Plant LLC and meet the district governor, S. Davaasuren.

The next EU–Mongolia Inter-Parliamentary Meeting is scheduled to take place in Brussels in 2027.

Mongolia's foreign trade turnover rises over 34 pct in first 5 months www.xinhua.com

Mongolia's foreign trade turnover increased by 34.6 percent in the first five months of 2026, according to official data released by the country's National Statistics Office on Tuesday.

Foreign trade totaled 13.4 billion U.S. dollars during the January-May period. Mongolia recorded a trade surplus of more than 3.6 billion dollars, with exports exceeding imports, the data showed.

China remained Mongolia's largest export destination and source of imports during the period, accounting for 93.6 percent of the country's exports and 38.8 percent of its imports, it said.

The landlocked Asian country traded with 145 economies worldwide in the period.

AseanPlus News Temporary facilities completed in Mongolia ahead of UN COP17 conference www.thestar.com.my

Preparations for the 17th Conference of the Parties to the United Nations Convention to Combat Desertification (COP17) have reached a major milestone as Ulaanbaatar completes the construction of 12 temporary venue facilities.

Newly appointed Capital Governor and Mayor of Ulaanbaatar Byaruuzanyn Purevdagva confirmed that critical utility networks, including electricity, water, sewage and high-speed fiber optics, are fully installed and operational.

The sprawling temporary complex was constructed by the French-based main contractor GL Events Live, with support from local and international subcontractors NBIK and LIRI Group.

These facilities will serve as the operational heart of the summit, hosting plenary sessions, official state negotiations, high-level ministerial meetings, media centres and exhibition spaces.

In tandem with the venue assembly, the city is rapidly completing broader infrastructure and greening initiatives. Roadway and parking developments surrounding the site are currently 80 per cent finished, with western lot paving actively underway. Furthermore, dedicated bicycle paths are 98 per cent complete.

As part of a massive exterior landscaping effort aligned with the summit’s environmental focus, city crews are planting 4,500 new trees of nine different species and safely transplanting an additional 100 mature trees.

Scheduled to take place on August 17-28, COP17 is projected to bring between 8,000 and 10,000 international delegates from 196 countries to the Mongolian capital.

53% of firms report engineer shortage www.ubpost.mn

The country’s renewable energy industry is grappling with a significant human resources shortage even as the sector expands rapidly, according to findings from the Mongolian Renewable Energy Sector Workforce Survey-2026, presented at the Future Skills of Human Resources in the Renewable Energy Sector of Mongolia forum on June 5. 

More than half of renewable energy companies, 53.1 percent, report insufficient staffing, with 41 unfilled vacancies for engineers and technicians. The shortage is most acute in solar energy system installation, where qualified engineers are hardest to find. Companies cite the rural locations of most energy facilities and the need for specialized skills or mandatory internships as the primary barriers to recruitment.

The survey covered 30 enterprises operating across renewable energy production, equipment assembly and installation, design development, consulting services, maintenance and equipment sales. Of those, 68 percent are active in the solar energy sector.

The nation currently operates three wind power plants, 11 solar power plants, seven hydroelectric power plants, and five battery storage facilities. As of 2025, 30 renewable energy production and related infrastructure construction licenses have been issued.

Professions identified as urgently needed include electrical engineers, electronics engineers, relay protection automation specialists, shift engineers, dispatch engineers, wind turbine generator technicians, energy management engineers, IT engineers, designers, and sales managers. Broader staffing needs also extend to archivists, clerks, savings managers, operators, and external relations managers.

With 82.8 percent of renewable energy companies reporting plans to expand operations, demand for engineers and technicians is expected to grow further over the next three years.