1 ZANDANSHATAR GOMBOJAV APPOINTED AS PRIME MINISTER OF MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/06/13      2 WHAT MONGOLIA’S NEW PRIME MINISTER MEANS FOR ITS DEMOCRACY WWW.TIME.COM PUBLISHED:2025/06/13      3 ULAANBAATAR DIALOGUE SHOWS MONGOLIA’S FOREIGN POLICY CONTINUITY AMID POLITICAL UNREST WWW.THEDIPLOMAT.COM PUBLISHED:2025/06/13      4 THE UNITED NATIONS CHILDREN’S FUND (UNICEF) IN MONGOLIA, THE NATIONAL FOUNDATION FOR SUPPORTING THE BILLION TREES MOVEMENT, AND CREDITECH STM NBFI LLC HAVE JOINTLY LAUNCHED THE “ONE CHILD – ONE TREE” INITIATIVE WWW.BILLIONTREE.MN PUBLISHED:2025/06/13      5 NEW MONGOLIAN PM TAKES OFFICE AFTER CORRUPTION PROTESTS WWW.AFP.MN PUBLISHED:2025/06/13      6 GOLD, MINED BY ARTISANAL AND SMALL-SCALE MINERS OF MONGOLIA TO BE SUPPLIED TO INTERNATIONAL JEWELRY COMPANIES WWW.MONTSAME.MN PUBLISHED:2025/06/13      7 AUSTRIA PUBLISHES SYNTHESIZED TEXTS OF TAX TREATIES WITH ICELAND, KAZAKHSTAN AND MONGOLIA AS IMPACTED BY BEPS MLI WWW.ORBITAX.COM  PUBLISHED:2025/06/13      8 THE UNITED STATES AND MONGOLIA OPEN THE CENTER OF EXCELLENCE FOR ENGLISH LANGUAGE TEACHING IN ULAANBAATAR WWW.MN.USEMBASSY.GOV  PUBLISHED:2025/06/12      9 MONGOLIA'S 'DRAGON PRINCE' DINOSAUR WAS FORERUNNER OF T. REX WWW.REUTERS.COM PUBLISHED:2025/06/12      10 MONGOLIA’S PIVOT TO CENTRAL ASIA AND THE CAUCASUS: STRATEGIC REALIGNMENTS AND REGIONAL IMPLICATIONS WWW.CACIANALYST.ORG  PUBLISHED:2025/06/12      БӨӨРӨЛЖҮҮТИЙН ЦАХИЛГААН СТАНЦЫН II БЛОКИЙГ 12 ДУГААР САРД АШИГЛАЛТАД ОРУУЛНА WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/15     ОРОН СУУЦНЫ ҮНЭ 14.3 ХУВИАР ӨСЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/15     МОНГОЛ УЛСЫН 34 ДЭХ ЕРӨНХИЙ САЙДААР Г.ЗАНДАНШАТАРЫГ ТОМИЛЛОО WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     SXCOAL: МОНГОЛЫН НҮҮРСНИЙ ЭКСПОРТ ЗАХ ЗЭЭЛИЙН ХҮНДРЭЛИЙН СҮҮДЭРТ ХУМИГДАЖ БАЙНА WWW.ITOIM.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ БАНК: ТЭТГЭВРИЙН ЗЭЭЛД ТАВИХ ӨР ОРЛОГЫН ХАРЬЦААГ 50:50 БОЛГОЛОО WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     МОНГОЛ ДАХЬ НҮБ-ЫН ХҮҮХДИЙН САН, ТЭРБУМ МОД ҮНДЭСНИЙ ХӨДӨЛГӨӨНИЙГ ДЭМЖИХ САН, КРЕДИТЕХ СТМ ББСБ ХХК “ХҮҮХЭД БҮРД – НЭГ МОД” САНААЧИЛГЫГ ХАМТРАН ХЭРЭГЖҮҮЛНЭ WWW.BILLIONTREE.MN НИЙТЭЛСЭН:2025/06/13     ЕРӨНХИЙЛӨГЧИЙН ТАМГЫН ГАЗРЫН ДАРГААР А.ҮЙЛСТӨГӨЛДӨР АЖИЛЛАНА WWW.EAGLE.MN НИЙТЭЛСЭН:2025/06/13     34 ДЭХ ЕРӨНХИЙ САЙД Г.ЗАНДАНШАТАР ХЭРХЭН АЖИЛЛАНА ГЭЖ АМЛАВ? WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/13     “АНГЛИ ХЭЛНИЙ МЭРГЭШЛИЙН ТӨВ”-ИЙГ МУИС-Д НЭЭЛЭЭ WWW.MONTSAME.MN НИЙТЭЛСЭН:2025/06/13     Г.ЗАНДАНШАТАР БАЯЛГИЙН САНГИЙН БОДЛОГЫГ ҮРГЭЛЖЛҮҮЛНЭ ГЭЖ АМЛАЛАА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/06/12    

Events

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

NEWS

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How Ivanhoe’s giant new Congo mine stacks up against copper mining’s top tier www.mining.com

When Ivanhoe Mines’ Kamoa-Kakula project in the Democratic Republic of Congo went into production a month ago it was the biggest new mine to do so since Escondida in Chile in November 1990.
Escondida hit its stride eight years later, producing 867,000 tonnes on its way to a peak of more than 1.4m tonnes a decade later. With more than 50 years left, the BHP-Rio Tinto owned operation may remain unsurpassed over its life in terms of sheer size.
A new report by BMO Capital Markets analyst Andrew Mikitchook outlines a similarly rapid growth path for Kamoa-Kakula, with the DRC mine entering peak production of 841,000 tonnes by 2028.
Kamoa-Kakula may never hit seven figures in annual output (although exploration on Ivanhoe’s adjacent Western Foreland licences which the Vancouver-based company owns 90%–100% of may transform the complex’s prospects once again) but size is not necessarily its standout feature.
Grade is.
According to a 2019 PEA, Kamoa-Kakula is being developed in 5 phases of 3.8m tonnes (phase 2 has been brought forward to Q3 2022) for total ore processing capacity of 19m tonnes per year.
The first table based on BMO’s ramp-up projections compares Kamoa-Kakula with the 10 largest copper mines in the world based on 2020 production volume. At the bumper grades during ramp-up, Kamao-Kakula’s ore is many factors more valuable than its peers.
Next year the mine will enter the top 10, and by 2026 when it enters steady state production it will vie with Freeport’s Grasberg, itself in aggressive ramp up, as the number two mine in the world.
That year – all things being equal and of course they won’t be – every tonne milled would be worth eight times Escondida’s, 20 times Morenci’s and even against Grasberg’s underground expansion, it’s a factor of five (solely on a Cu basis – Grasberg’s gold and silver credits put it in a different camp altogether).
Grade at Kamoa-Kakula declines steadily over the five phases as per the PEA, averaging between 4%-3% during the second half of its 47-year mine life, but even then Kamao-Kakula would be by far the richest copper mine almost of any size on the planet.
Table 2 shows BMO’s projected performance metrics for the mine and Ivanhoe’s financial performance, showing how Kamoa-Kakula’s ore quality feeds into low all-in sustaining costs (comparable with the 2020 PEA) and torrents of free cash – topping a billion just four years after first concentrate.
The performance stats show Kamao-Kakula production at 100% (for consistency with company disclosure) and adjusted for the actual startup on 25 May. The financial metrics include Ivanhoe’s revival of the Kipushi zinc-copper mine from 2024 and the Platreef project (PGM-Ni-Cu-Au at 4mtpa) in South Africa from 2026.
Even at 39.6% ownership (matching that of Zijin Mining with Kinshasa holding a fifth) BMO points out that Ivanhoe’s stake is still substantial at just below 300,000 tonnes for most of the mine life. And the potential cash flow streams attributable to Ivanhoe is an indication of its ability to self-finance through phase 5 as well as Kipushi and Platreef, says Mikitchook.
BMO has an outperform rating on Ivanhoe Mines (TSE:IVN) and upped its price target to $15.00 in this report. Ivanhoe was last trading at $8.54 a share in Toronto with a market value of C$10.3 billion ($8.4 billion). Copper was last trading at $4.32 a pound or $9,525 per tonn
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President U.Khurelsukh takes oath with inaugural parade www.news.mn

On 25 June, U.Khurelsukh was officially sworn in as the Sixth President of Mongolia, taking his oath at a special parliamentary session. The ceremonial session of the State Great Khural was attended by 68 MPs and delegates from foreign diplomatic missions in Mongolia.
U.Khurelsukh, the candidate from the Mongolian People’s Party triumphed in the Mongolia’s presidential elections, which were held on June 9th. He became the first candidate in recent history to win more than two-thirds of the vote. His party already holds a supermajority in parliament.
To mark the event, an inaugural parade for U.Khurelsukh consisting of 200 troops, paraded on Sukhbaatar Square next to the State Palace. The number of troops was reduced from over 3000 after dozens of soldiers were confirmed as having coronavirus. Crowds were also very limited.
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Government to submit its proposal to Parliament to continue supports for households and businesses www.montsame.mn

On June 25, Prime Minister L. Oyun-Erdene introduced to the National Security Council a proposal to continue the government's decision on providing an additional funding for the health sector, granting monthly allowance of MNT 100 thousand to each child, and paying utility bills (electricity, heat, and waste bills) of households and some enterprises until the end of this year, as well as extending a 50 percent discount rate of refined coal until March of 2022.
At the meeting, President U. Khurelsukh and Chairman of State Great Khural (Parliament) G. Zandanshatar expressed their support. Therefore, within the next week the Government will submit to the Parliament a detailed action plan on continuing some measures to support livelihoods and businesses and providing necessary additional funding for the health sector.
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COVID-19: 2,432 new cases reported, total reaches 109,694 www.montsame.mn

On June 27, the Ministry of Health reported that 2,432 new cases were detected in Mongolia nationwide within the past 24 hours.
More specifically, 1,519 new cases were detected in the capital city, with 909 cases in rural regions, three hospital acquired infections and one imported case.
As of today, the total number of COVID-19 confirmed cases in Mongolia has reached 109,694. In the past 24 hours, 1,207 patients made recovery, bringing the total recoveries to 69,958.
Furthermore, 13 new COVID-19 related deaths have been reported, raising the country's death toll to 518. Of the 14,138 patients currently undergoing treatment, there are 9,450 patients in mild, 3,352 in serious, 1,095in critical, and 241 in very critical conditions. In addition, 25,052 people with mild symptoms are being isolated at homes.
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CPC solves long-standing problems faced by many countries, says Russian party leader www.xinhuanet.com

Interview: CPC solves long-standing problems faced by many countries, says Russian party leader

Source: Xinhua| 2021-06-24 20:36:20|Editor: huaxia
 

MOSCOW, June 24 (Xinhua) -- The Communist Party of China (CPC) has solved problems that many countries haven't been able to tackle for centuries, Sergei Mironov, chairman of "A Just Russia - For Truth" party, has said.

Everytime he visits China he saw new achievements and changes, Mironov said in a recent interview with Xinhua, stressing that "eradicating absolute poverty is an outstanding success."

Poverty has worsened almost throughout the world during the pandemic, with only China being a positive exception, he pointed out.

China announced the eradication of extreme poverty at the end of 2020.

"This is a wonderful example for the whole world. And this is China's contribution to the development of the whole mankind," he added.

 

 

"We strongly appreciate the CPC's readiness to share its governing experience, and always study this experience with great interest," the party leader said.

As regards the cooperation between the two parties, he said, "I hope once we finally defeat the pandemic, our contacts will become even closer and yield new results. This cooperation is very useful for us."

Hailing China's role in international relations, Mironov said facts have shown that the idea of building a community with a shared future for mankind is both viable and promising.

The coronavirus is currently not the only threat facing the world, he said, adding that "environmental problems, food shortages, hunger, terrorism, cybercrime, illegal migration -- all these problems of modern life cannot be solved by one country, even the most powerful."

"Cooperation among countries is vital. This is in the interest of all people," he said.

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Asia Oceania Tax Consultants’ Association elects new Vice President www.pkf.com

The Asia Oceania Tax Consultants’ Association (AOTCA) has elected Managing partner of PKF-IFS Mongolia, Tamir Amarbayasgalan as Vice President. The online voting, hosted by AOTCA, included members from Mongolia, Taiwan, Indonesia and the Philippines.
The Mongolian Association of Certified Tax Consultants (MACTC) first became a member of the Asia Oceania Tax Consultants’ Association (AOTCA) in 2004. The organisation is a professional non-governmental organization that has made a name for itself in the history of Mongolia as a Certified Tax Consultant.
The PKF International Board would like to extent their congratulations to Tamir on his achievement.
The PKF International family extend their congratulations to Tamir on his achievement and the contribution he is making to the professional services industry.
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China's Inner Mongolia starts building high-end dairy complex www.marketwatch.com

HOHHOT, June 26, 2021 (Xinhua via COMTEX) -- Construction for a large-scale dairy production and processing facility kicked off in north China's Inner Mongolia Autonomous Region on Saturday.
The high-end milk production complex, capable of raising 100,000 cows, will cover an area of about 867 hectares in Bayannur City, with an investment of 4 billion yuan (about 620 million U.S. dollars).
After completion, the complex is expected to produce 550,000 tonnes of fresh milk annually and hike up incomes of about 40,000 herdsmen and farmers in the region, said Zhao Jiejun, vice president of Mengniu Dairy headquartered in the regional capital Hohhot that is cooperating with the local government to carry out the project.
Inner Mongolia now produces over 5.7 million tonnes of milk each year, with the largest market share for dairy products in China.
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36 scientific research papers and best practices of 26 countries will be presented at 14th Mine Closure 2021 www.mongolianbusinessdatabase.com

The mining sector is aggressively moving to efficient mine closure for the environment-friendly, ecological balance reserved field with possible economic benefits based on special scientific research, advanced technology, and best practices.
36 research papers, presentations of best practices from 26 countries will be presented and experience, business offers will be shared on B2B meetings and exhibition at the 14th International Conference on Mine Closure 2021 (ICMC) between 17-19 August in Ulaanbaatar, Mongolia, the first event in Asia! The event will be in hybrid mode as both in virtual (Airmeet) and physical formats. We are pleased to inform you that distinguished speakers such as Prof. Andy Fourie University of Western Australia, Prof. Mark Tibbett University of Reading, Mr. Aiden Davy COO of International Council on Mining and Metals, Professor Emeritus Dirk van Zyl University of British Columbia, Mr. Mark Dillon COO of ATC Williams and Dr. Thekla Abel BGR - Federal Institute for Geosciences and Natural Resources are among the presenters and the tentative program will be posted on the website in the beginning of July.
The event is officially supported by the Embassies of Australia, Czech Republic, PR China and UK in Ulaanbaatar, Russia-Mongolia Council on Trade and Industry and the Mongolian Business Database.
The event is planned at Shangri-La Ulaanbaatar Hotel physically among the locals when foreign participants/exhibitors gather on AIRMEET which you can see the short intro on the link below. https://www.youtube.com/watch?v=BBoyccS8QAw
Please get in touch if you would like to promote your company’s product or service. We have a variety of sponsorship and exhibition opportunities available and are actively seeking to form new partnerships.
Visit https://mineclosure2021.com for more information. Contact us via phone: (+976) 99066062, 99119657, 99055212. Email: mineclosure2021@qmc.mn for general inquiries.
The registrations will close on July 30. 2021
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Copper price keeps soaring despite China’s attempt to cool rally www.mining.com

Copper price rose on Wednesday, one day after China’s National Food & Strategic Reserves Administration announced that it intended to sell 20,000 tonnes of copper in an initial batch of sales of state metal reserves.
The release of state metal reserves in China, the world’s biggest metals consumer, is one of a number of attempts by Beijing to cool a stellar rally in commodity prices that has squeezed manufacturers’ margins.
Copper for delivery in July rose 2.6% from Tuesday’s settlement price, touching $4.342 per pound ($9,552 per tonne) midday Wednesday on the Comex market in New York.
According to Citigroup, Beijing’s measures “target managing expectations and deterring speculators rather than solving supply/demand imbalances.”
Demand for copper is rising for use in renewable energy projects and electric vehicles.
“We do not think the rally is over,” the bank said in a note.
Glencore CEO Ivan Glasenberg said on Tuesday that copper supplies need to increase by one million tonnes a year until 2050 to meet an expected demand of 60 million tonnes, but he stopped short of predicting a supercycle.
“Today, the world consumes 30 million tonnes of copper per year and by the year 2050, following this trajectory, we’ve got to produce 60 million tonnes of copper per year,” he said.
“If you look at the historical past 10 years, we’ve only added 500,000 tonnes per year … Do we have the projects? I don’t think so. I think it will be extremely difficult.”
(With files from Reuters and Bloomberg)
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United States Provides an Additional $250,000 (700 Million MNT) to Combat COVID-19 in Mongolia www.mn.usembassy.gov

Ulaanbaatar, June 24, 2021 — The United States, through the United States Agency for International Development (USAID), has committed an additional $250,000 (700 million MNT) to support the Government of Mongolia’s efforts to fight the COVID-19 pandemic. Through its implementing partner, the United Nations Children’s Fund (UNICEF), USAID will support the Mongolian Ministry of Health’s vaccine distribution efforts, including the monitoring and disposal of supplies, improving cold chain storage, and providing real-time data on immunizations.
“The rapid spread of COVID-19 has demonstrated that no nation can act alone against a global pandemic. The United States is proud to have Mongolia as a Strategic Partner, and this assistance today is a clear demonstration of our unwavering cooperation,” said U.S. Ambassador Michael S. Klecheski. “As a friend and third neighbor, the United States will continue to stand by the people of Mongolia in these challenging times.”
With this additional assistance, the United States has provided over $4 million (11 billion MNT) bilaterally to help Mongolia respond to COVID-19. USAID is focused on strengthening Mongolia’s ability to fight the disease through infection prevention and control; preparing laboratory systems for large-scale testing; and communicating with the public on steps they can take to prevent and respond to the spread of the virus.
The United States is the world’s largest provider of assistance in public health. Over the past two decades, the United States has provided more than $140 billion in global health assistance. This includes being the single largest donor to COVAX, the COVID-19 Vaccine Global Access initiative with an initial pledge of $2 billion through USAID—out of a total planned $4 billion—to support the purchase and delivery of COVID-19 vaccines for Mongolia and 91 other countries.
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