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

NEWS

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Mongolia to 'carefully review' financing offer from Rio Tinto www.asia.nikkei.com

Mongolian officials said on Tuesday that they will "carefully review" a new plan from Rio Tinto for financing the costly expansion of the vast Oyu Tolgoi copper mine -- intimating that it could take years to reach agreement.
The rising cost of the new underground phase of the mine, now pegged at $6.8 billion, played a part in bringing down both Mongolia's previous prime minister and Rio's last chief executive.
While the government has not paid up front for any of the construction or operating costs of the mine, figures that emerged late last year projecting that it might never receive any dividends from its 34% ownership of one of the world's biggest copper deposits engulfed the project in fresh controversy.
In a proposal submitted to Prime Minister Oyun-Erdene Luvsannamsrai on Monday, Rio offered to waive interest on the loan extended to finance the government's capital share, an official told Nikkei Asia. Under the current arrangement, the rate is fixed at Libor plus 6.5%, or around 6.74% currently.
The company also offered to pay the government $350 million over the next three years to assist Mongolia with its pandemic difficulties, government officials said.
"We take the cash payment offer as a prepaid dividend and there will be much more further talks," Solongoo Bayarsaikhan, deputy cabinet secretariat chief and a leading negotiator in the talks with Rio, said at a news conference Tuesday.
"Negotiations may take 3 to 4 years," said Nyambaatar Khishgee, minister of justice and internal affairs, noting the government would hire consultants to carefully review terms, given perceived mistakes made in earlier rounds of talks.
Rio on Wednesday said it would decline to comment on "speculation" about its offer.
Under the current financing arrangement, Mongolia will only receive dividends once it has paid off the interest and principal on the loan from Rio, now about $2.2 billion. Until late 2020, the authorities had expected to start collect dividends in 2032 but a two-year delay in construction and $1.5 billion increase in the project's budget darkened the outlook.
Copper production from the underground section of the mine was originally scheduled to begin last year, and preparatory work will continue while negotiations proceed. Solongoo said the government will also continue to pursue an international arbitration claim against Rio for taxes found to be unpaid after auditing the mine's records.
Rio has said the mine project pays around $300 million in taxes annually to the government, including royalties. The company has collected $1.3 billion in management fees for operating the original open-pit section of the mine since 2013.
Earlier this month, a special board committee of the joint venture that owns the mine concluded that project management problems were key to the delays and cost overruns with the underground expansion.
Former Mongolian Prime Minister Saikhanbileg Chimed, who signed a 2015 deal with Rio, is under investigation over his handling of those talks but is in exile. Bayar Sanj, a predecessor, was sentenced in 2020 to five years' imprisonment for abuse of power in another case related to the mine.
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Rio Tinto offers to work with the government to generate MNT 1 trillion of additional revenue for Mongolia www.montsame.mn

Following the Cabinet meeting today, August 31, Minister of Justice and Internal Affairs Kh. Nyambaatar held a press briefing to introduce a letter from Rio Tinto’s management team to the Prime Minister of Mongolia.
In the letter, as head of the Oyu Tolgoi mine project management team, Rio Tinto has apologized for delaying the development of the underground mine, expressing regrets for the schedule delays amid the pandemic and difficult economic times. The letter also reads that Rio Tinto offers to work with the government to generate MNT 1 trillion (USD 350 million) of additional revenue for Mongolia over the next three years, which is an addition to existing taxes and royalty payments generated by an existing open pit mine at Oyu Tolgoi.
To speed up returns that the Mongolian government will earn from the Oyu Tolgoi project, a working group set up by the both sides is willing to bring the term of dividends to be paid by Oyu Tolgoi to Erdenes Oyu Tolgoi LLC closer and to reduce the amount of debt that would have accrued on the investment of Mongolian side.
Mr. Nyambaatar said that Rio Tinto has officially expressed that it is ready to negotiate on reducing the current debt of USD 2.3 billion accrued on the Mongolian share of 34 percent. “Moreover, Rio Tinto expressed readiness to continue talks in all aspects and the project must be successfully proceeded, thus asking to adjourn the counterclaim raised by the Mongolian side at the London Court of International Arbitration and freeze the dispute temporarily. The government’s working group will convene this week and announce a date of meeting with a Rio Tinto representative headed by B. Bold, a head of Rio’s copper division.”
The letter also reads that the Rio Tinto wants a long-term agreement on a sustainable energy supply for the Oyu Tolgoi mine as it seeks to complete the development of underground mine.
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Construction of terminal for container transportation to increase coal export www.montsame.mn

The establishment of additional terminal for containerized shipping at Gashuunsukhait and Shiveekhuren border checkpoint is 80 percent complete.
The terminal, which will be commissioned in September, is being built with funding from Energy Resources LLC, Erdenes Tavan Tolgoi JSC and Tavan Tolgoi JSC. Moreover, road construction of containerized shipping has started with the establishment of an additional transportation control points at Shiveekhuren checkpoint by the ‘Mongoliin Alt’ LLC.
Construction of flood dams, long and short haul roads at Gashuunsukhait checkpoint as well as the infrastructure are being accomplished as planned.
The construction of terminal for containerized shipping at border checkpoints will reduce human contact and allow drivers to carry out works steadily without crossing the border. Furthermore, it will reduce the negative impact caused by coal transportation on environment, and increase coal export.
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Movement of passenger train resumes www.montsame.mn

The movement of passenger train, which had been suspended for months due to the coronavirus pandemic, was reopened on August 29, 2021 at 5:00 a.m. by the decision made by the SEC.
When traveling by passenger train, the following documents must be submitted and the infection control regime must be strictly followed in accordance with the “Temporary Procedure for regulating traffic movement between the capital city and rural areas” approved by the Order No. 46 of the Chairman of the SEC dated May 19, 2021.
1. Proof that 14 days have passed since receiving the full dose of COVID-19 vaccine.
2. Medical certificate confirming recovery from coronavirus infection in the last 4 months;
Passengers must present a negative PCR test result carried out within the past 3 days or a negative antigen-based rapid test result (valid for 2 days from the date of test) except for passengers who have started their journey from a rural area (aimag, soum) where no cases of coronavirus infection have been reported and have the documents specified in 1.2.
However, children aged under 17 are not required to have a negative result of PCR or rapid antigen-based test for coronavirus infection. State Emergency Commission will be in charge of taking corresponding measures including performing rapid test involving children when coronavirus symptoms have detected with taking questionnaires at checkpoints, checking body temperature.
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APU and Suu JSC decided to allocate dividends based on the first half year performance of 2021 www.bdsec.mn

According to the Resolution No. 15 of the regular meeting of shareholders dated August 18, 2021, shareholders of Suu JSC approved the distribution of MNT 1.7 billion to its shareholders by a dividend of MNT 5.14 per share based on the net profit of the first half-year of 2021. The list of shareholders who are eligible for dividends will be determined by September 06, 2021, and the dividends will be placed in the shareholders’ accounts held at Mongolian Central Securities Depository within February 10, 2022.
The Board of Directors of APU JSC decided to allocate a dividend of MNT 46 per share or a total of MNT 48.8 billion from its net profit of 2021H1. The company publicly announced Board members’ decisions. The list of eligible shareholders is determined by September 03, 2021, whereas the company will allocate dividends through Central Securities Depository before February 10, 2022. APU JSC is pursuing a policy to allocate dividends twice a year. In particular, the company paid a dividend of MNT 37.5 per share or MNT 29.9 billion in 2020H1.
Source: Local Newspaper “Today Newspaper”
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Mongolian Information and Trade Promotion Center opens in Berlin www.montsame.mn

On August 27, the Mongolian Information and Trade Promotion Center was opened in Berlin.
The opening was attended by Ambassador of Mongolia to Germany D.Ganbat, Mayor of Berlin Michael Müller, Members of Bundestag Manfred Grund, Alexander Kulitz, Marcus Held, EU TRAM Senior Expert Carl E. Krug, and other corresponding officials. In addition, President of Mongolian National Chamber of Commerce and Industry (MNCCI) O.Amartuvshin attended the opening ceremony virtually, and delivered a speech.
In his speech, he said, “Mongolian Trade Promotion Project”, which was launched in March 2017 with the financial support of the European Union, has provided significant support to Mongolian businesses to improve the use of the updated GSP +. The project has empowered more than 100 Mongolian SMEs and enterprises to diversify the economy and increase exports of non-mining products, developed five clusters, and built a "bridge" to the European Union, particularly to Germany”.
The MNCCI signed a Memorandum of Understanding with the Mongolian-German Business Association in November 2019 to open the center in Berlin. The opening of this center in Berlin will open up opportunities to attract foreign investment, and facilitate export of Mongolian products to major markets.
EU Generalized Scheme of Preferences (GSP+) allows developing countries to pay fewer or no duties on exports to nine EU countries, giving them vital access to the EU market and contributing to their growth.
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Cabinet meeting news in brief www.montsame.mn

At today’s regular meeting of the Cabinet, the following decisions were made:
Rio Tinto's official letter to the Prime Minister of Mongolia was presented to the Cabinet by a working group responsible for conducting negotiations with Oyu Tolgoi project’s investor side to agree on project issues and submitting the finalization on concerning matters.
The Cabinet Secretariat was instructed to develop a new procedure for evaluating the implementation of the results of aimag and district governors in terms of waste management, e-transition and green facilities.
The 15th National Sports Festival was postponed to 2022 and the 7th Children's Sports Festival was postponed to 2023 due to the transition to a heightened state of readiness and restrictions on public events.
As reported by the Ministry of Food and Agriculture, this year’s yield is expected to be abundant to entirely provide the domestic need of wheat and potato and 60 percent of vegetables.
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Tokyo 2020: Toyota restarts driverless vehicles after accident www.bbc.com

Toyota is resuming operations of its autonomous vehicles at the Paralympic Games village in Tokyo following an accident.
Services of the e-Palette pods were halted after a vehicle hit a visually impaired athlete last week.
The athlete was not seriously injured, but he had to pull out of an event because of cuts and bruises.
The vehicles will now have more operator control and extra staff to ensure they do not hit any more people.
Aramitsu Kitazono, a member of Japan's judo team, was hit as he was walking across a pedestrian crossing on Thursday.
Mr Kitazono was unable to compete in his 81kg category because of the accident.
In a statement late on Monday, Toyota said: "The vehicle's sensor detected the pedestrian crossing and activated the automatic brake, and the operator also activated the emergency brake. The vehicle and pedestrians, however, came into contact before it came to a complete halt."
The company said that operators would now be given control over how fast the vehicles travel, with two members of safety staff on board, rather than one, to help look out for pedestrians.
New safety features will also include louder warning sounds, while pedestrian guides at busy crossings in the Paralympic village will be increased to 20 from six.
Toyota also said that it would continue to make safety improvements "on a daily basis" until the village closes.
The company also said it was co-operating with a local police investigation to determine the cause of the accident.
Chief executive's apology
On Friday, Toyota chief executive Akio Toyoda made a public apology after the incident.
"A vehicle is stronger than a person, so I was obviously worried about how they were," he said in a YouTube video.
Mr Toyoda said the accident illustrated just how difficult it was to operate self-driving vehicles in the special circumstances of the village during the Paralympics, with people there who are visually impaired or have other disabilities.
"It shows that autonomous vehicles are not yet realistic for normal roads," he added.
Autonomous ambitions
The company's e-Palette pod, a fully autonomous electric vehicle, was adapted specifically for use during the Tokyo Olympic and Paralympic Games, with large doors and electric ramps to allow groups of athletes to board quickly.
The world's biggest carmaker, like many of its motor industry rivals, is trying to develop autonomous vehicles to operate safely on public roads.
The e-Palette was unveiled at the CES technology show in Las Vegas in 2018, with the company touting it as "a symbol of mobility that goes beyond cars to provide customers services and new values."
At that time, Mr Toyoda declared that Toyota was going to transform itself from a car company to a "mobility company".
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Rio Tinto to cut rates on loans to Mongolia for Oyu Tolgoi expansion www.mining.com

Rio Tinto (ASX, LON, NYSE: RIO) is said to be ready to cut interest rates on loans to the Mongolian government, given to fund its share of the construction costs of an underground expansion at the vast Oyu Tolgoi copper-gold mine in the Gobi Desert.
In return, the company wants several regulatory and budgetary issues resolved and a long-term power agreement for Oyu Tolgoi, Financial Times reported on Monday, citing a letter from Rio Tinto and its majority-owned Turquoise Hill (TSX, NYSE: TRQ) to Mongolia’s prime minister.
SIGN UP FOR THE COPPER DIGEST
Turquoise Hill, in which Rio has a 50.8% stake, owns 66% of Oyu Tolgoi. The rest is held by the Mongolian government.
The move comes after relations between the companies and the government hit a fresh impasse earlier this month, following an independent report that rejected Rio’s explanation for the project’s delays and cost overruns.
A definitive estimate for the development of the new mine level, announced in December, pegged the cost of Oyu Tolgoi’s underground section at $6.75 billion, about $1.4 billion higher than its original estimate in 2015.
First production, initially expected in late 2020, was rescheduled for October 2022, and Rio blamed unfavorable geological conditions as the main cause for the cost and timeline review, but the independent report published earlier this month suggested it was rather caused by the miner’s mismanagement.
Financial regulators in the UK and US are also examining Rio’s disclosures about the delays.
Internal conflicts
Rio and Turquoise Hill Resources spent the first months of the year in a standoff over the funding to expand the mine. The spat forced the Canadian miner’s CEO to quit, not before taking Rio to arbitration.
The firms finally reached an agreement in April, which addressed the remaining $2.3 billion needed for the underground project and replaces deals set up under a memorandum of understanding inked in September last year.
Oyu Tolgoi is Rio Tinto’s main copper growth project. Once completed, the mine’s underground section will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come on stream in several years.
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A Greeting: www.mongolianbusinessdatabase.com

Dear distinguished speakers, presenters, participants, exhibitors, and sponsors of 14th MineClosure 2021 International conference.
On behalf of the organizing committee, such as Mongolian University of Science and Technology, the Australian Centre for Geomechanics (ACG), the University of Reading and the Qualified Mining Consulting (QMC) and supporting organizions such as Embassies of Australia, Czech Republic, PR China and UK in Ulaanbaatar, Russia-Mongolia Council on Trade and Industry and the Mongolian Business Database, we are pleased to say thank you to all and would like to address the special thanks to Rio Tinto our premium sponsor, other event/proceeding sponsors.
It could not be successfully completed with 291 participants of 16 countries with 36 presentations event which was held for 3 days between Aug 17-19 2021 without your great contribution and support.
We also thank you to all distinguished speakers, presenters, participants for your active and fruitful attendances at the event.
Hope to see you all at the next/following MineClosure International Conferences!!!
ICMC2021 Organizing Committee and host team.
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