1 EIB GLOBAL SIGNS MEMORANDUM OF UNDERSTANDING WITH MONGOLIA TO UNLOCK UP TO EUR 1 BILLION FOR CLEAN ENERGY TRANSITION WWW.MONTSAME.MN PUBLISHED:2025/10/15      2 URANIUM SUPPLIES, MEGA REFINERY, DEFENCE IN FOCUS AT INDIA-MONGOLIA MEETING WWW.HINDUSTANTIMES.COM PUBLISHED:2025/10/15      3 MONGOLIA SEES INCREASE IN NEWBORN LIVESTOCK SURVIVAL WWW.MONTSAME.MN PUBLISHED:2025/10/15      4 MONGOLIA AND EUROPEAN INVESTMENT BANK TO PEN COOPERATION AGREEMENT FOR 1 BILLION EUROS WWW.AKIPRESS.COM PUBLISHED:2025/10/15      5 2 DIE IN SUSPECTED CARBON MONOXIDE POISONING IN MONGOLIA'S CAPITAL WWW.XINHUANET.COM PUBLISHED:2025/10/15      6 INDIA, MONGOLIA INK 10 PACTS, TIES ELEVATED TO STRATEGIC PARTNERSHIP WWW.INDIANEXPRESS.COM  PUBLISHED:2025/10/15      7 INDIA-BACKED OIL REFINERY IN MONGOLIA TO BEGIN OPERATIONS BY 2028 WWW.DECCANHERALD.COM PUBLISHED:2025/10/15      8 TROY MINERALS INCHES CLOSER TO MINE PERMIT AT SILICA PROJECT IN MONGOLIA WWW.INVESTINGNEWS.COM PUBLISHED:2025/10/15      9 CENTRAL BANK DISCUSSES FUTURE OF DIGITAL PAYMENTS IN MONGOLIA WWW.MONTSAME.MN PUBLISHED:2025/10/15      10 TEACHERS TO GO ON STRIKE STARTING THURSDAY WWW.GOGO.MN PUBLISHED:2025/10/15      БАГАХАНГАЙ-ХӨШИГИЙН ХӨНДИЙ ЧИГЛЭЛИЙН ТӨМӨР ЗАМЫН ТӨСЛИЙН САНХҮҮЖИЛТИЙГ ШИЙДВЭРЛЭВ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/15     "МАН-ЫН БҮЛГИЙН ДАРГААР Ж.БАТЖАРГАЛЫГ СОНГОЛОО" WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/15     ТАМХИНЫ ХЭРЭГЛЭЭНЭЭС ШАЛТГААЛСАН МОНГОЛЫН ЭДИЙН ЗАСГИЙН АЛДАГДАЛ 800 ТЭРБУМ ТӨГРӨГ ДАВЖЭЭ WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/15     Б.ЖАВХЛАН: ТӨСВИЙН ЕРӨНХИЙЛӨН ЗАХИРАГЧ БҮРИЙН ЗАРДЛЫГ 10 ХУВИАР БУУРУУЛЖ, ЦАЛИН, ТЭТГЭВЭР НЭМЭХ САНХҮҮЖИЛТИЙГ ШИЙДНЭ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/15     ЕРӨНХИЙ САЙДЫГ ОГЦРУУЛАХ ЭСЭХ АСУУДЛААР ТББХ МАРГААШ 09.00 ЦАГТ ХУРАЛДАНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/15     Н.УЧРАЛ: ЯАМД ШАЛГУУР ҮЗҮҮЛЭЛТЭЭ АХИУЛСАН УУ ГЭДЭГ ҮР ДҮНГ ХАРНА WWW.EGUUR.MN НИЙТЭЛСЭН:2025/10/15     МОНГОЛ УЛСЫН ЕРӨНХИЙЛӨГЧ У.ХҮРЭЛСҮХ, БҮГД НАЙРАМДАХ ЭНЭТХЭГ УЛСЫН ЕРӨНХИЙ САЙД НАРЕНДРА МОДИ НАР АЛБАН ЁСНЫ ХЭЛЭЛЦЭЭ ХИЙЛЭЭ WWW.EAGLE.MN НИЙТЭЛСЭН:2025/10/15     "ОЮУ ТОЛГОЙ" ХХК МЭДЭГДЭЛ ГАРГАВ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/15     ЕБС-ЫН СУРАГЧИД ЭНЭ САРЫН 20-24 ХҮРТЭЛ ТАНХИМААР ХИЧЭЭЛЛЭХГҮЙ WWW.NEWS.MN НИЙТЭЛСЭН:2025/10/15     ОРОН СУУЦНЫ ҮНИЙН ИНДЕКС БА ЗАХ ЗЭЭЛИЙН ТӨЛӨВ WWW.ITOIM.MN НИЙТЭЛСЭН:2025/10/15    

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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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Silver Gerege Discovered on the Territory of Mongolia for the First Time www.montsame.mn

Ulaanbaatar resident J. Otgonjargal organized the transfer of the Silver Gerege, discovered at the “Ulaan Davaa” site in Bulgan soum, Bayan-Ulgii aimag, by local citizens A. Ansagan, Kh. Amanjol, and E. Amanbek in May 2024, into state ownership under relevant laws and regulations.
The Ministry of Culture, Sports, Tourism, and Youth of Mongolia awarded the citizens with certificates of merit in recognition of their initiative and contribution to preserving national cultural heritage. The Chinggis Khaan National Museum of Mongolia will display this historical artifact, calling for citizens to actively participate in the protection and preservation of our cultural heritage.
According to researchers, the Silver Gerege was written in Square Script during the period of the Mongol Empire, namely the Great Yuan Dynasty.
When transliterated into Latin, the scripture on the Silver Gerege reads “möngke tengri yin küčün dür qaɣan nere qutuɣtai boltuqai ken ülu buširegu aldaqu ükügü,” meaning, “Under the power of the Eternal Sky, May the Khaan's name be blessed, Whoever fails to revere Him shall blunder and perish.”
Additionally, six characters along the embossed perforation read “Emblem of Honor, Number 69”.
It is worth noting that, as of the present, only three artifacts similar to the Silver Gerege discovered in Mongolia are in collections in the Russian Federation and the United States, underscoring the need for further detailed study.

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Rural residents to lead mortgage queue as urban applicants fall behind www.ubpost.mn

Two friends applied for a subsidized housing loan simultaneously, preparing the necessary documents together. However, while one received the loan in less than a month, the other has been waiting for nearly ten months since submitting his application. A bank employee explained, “According to the loan review period, citizens’ applications are processed in order. They have not reviewed your materials and have not discussed them at the loan committee meeting. On average, it takes six to 12 months to process an application, and in busy periods, it can take up to 24 months.” Frustrated by the delay, the young man, who hopes to secure a home before the arrival of a new family member and the end of his lease, simply shook his head, saying, “This is impossible”. Meanwhile, his friend has already moved into his apartment and settled in. He even offered his friend a chance to get a house through a short-term mortgage. However, the young man said he did not even consider accepting the offer, as he had his own plans and a clear intention to work and live in Ulaanbaatar. Left with limited options, he remains dependent on the bank’s overwhelmed waiting list, which holds thousands of pending applications.
The striking difference in the mortgage loan approval timelines between two friends underscores a growing divide in housing access policy across Mongolia, driven primarily by geographic location. One of the friends, a resident of Ulaanbaatar, has been waiting nearly a year for a subsidized housing loan without any substantial progress. Meanwhile, his friend, who resides in Darkhan-Uul Province, had his mortgage approved and processed within a matter of weeks. Despite submitting their applications around the same time and preparing similar documentation, the outcomes were vastly different.
The core reason behind this discrepancy lies in a policy shift that the government has begun to implement in earnest: offering preferential mortgage loan conditions that differ between urban and rural residents. Under this framework, citizens in provinces outside the capital, such as Darkhan-Uul, Orkhon and Selenge, are prioritized for mortgage financing, granted faster processing, and eligible for lower interest rates and reduced down payment requirements. In contrast, residents of Ulaanbaatar face longer waiting periods, stricter terms, and limited quotas due to rising demand and redirected funding.
This policy, though not new in concept, is now actively reshaping the apartment landscape. As part of a larger national strategy to decentralize Ulaanbaatar and stimulate development in rural areas, the government has embedded more detailed regulations into official mortgage loan agreements. These provisions seek to encourage migration away from the overcrowded capital, which continues to struggle with pollution, infrastructure strain, and housing shortages. 
The young man from Darkhan-Uul not only benefited from a more favorable loan environment but also tried to convince his friend to relocate. He painted a picture of a quieter, healthier life outside the capital, free from smog, noise and congestion. While the idea was tempting, his friend chose to stay in Ulaanbaatar, committed to his work, family plans and urban lifestyle. Unfortunately, this decision came with trade-offs: continued uncertainty, delays, and the real possibility of losing out on affordable homeownership. Their experience reflects a broader social dilemma now facing many young Mongolians. As government incentives for rural migration strengthen, more families will be confronted with a difficult choice: move to a province to access faster, cheaper housing, or remain in the capital and wait indefinitely under more competitive and constrained conditions.
Government Resolution No. 483 of 2023, titled “On Some Measures to Provide Apartments for Citizens”, alongside the Mongolian Regional Development Concept, introduced a preferential mortgage loan program aimed at promoting regional settlement and reducing congestion in Ulaanbaatar. Beginning two years ago, the policy began offering staggered interest rates to local residents. Specifically, it opened the door for citizens who move to rural areas, work in the civil service, and are purchasing their first home to access mortgage loans with a three percent interest rate. The remaining three percent of the standard six percent loan is subsidized by the state. Moreover, the usual 30 percent down payment requirement has been reduced to 12 percent. This means that a citizen who would have previously needed to pay 45 million MNT upfront now only pays 18 million MNT. This regulation remains in effect today.
However, the outcome of this policy, originally aimed at supporting rural communities, has significantly reduced the opportunity for urban residents to access mortgage loans. From 2013, when the concessional mortgage loan program was first implemented, until 2023, 20 to 25 percent of total mortgage financing was allocated to local governments, with the majority going to citizens in the capital. In contrast, over the past three years, a new policy has required at least 40 percent of the mortgage loan quota to go to local areas, reversing the distribution balance. This year alone, the central bank, commercial banks, and the Guarantee Fund have set aside over 600 billion MNT, roughly 45 percent of total financing, to be distributed to local governments. As a result, mortgage loan issuance in Ulaanbaatar has slowed considerably, leading to delays in application reviews and approvals. This shift has fueled public sentiment that “mortgage loan issuance has been delayed due to financing”, highlighting the growing disparity. While rural residents can now more easily access mortgages, capital residents face longer wait times, often stretching months or even years. To further this agenda, Mongol Bank is drafting revised regulations for commercial banks, mandating that at least 50 percent of mortgage financing be directed to rural areas, with plans to increase this share gradually. In addition, a new tiered interest rate system is expected to be introduced for Ulaanbaatar residents, distinguishing between those living in the city center and those in suburban districts.
Last spring, Governor of Mongol Bank B.Lkhagvasuren announced that mortgage interest rates would range from six to 14 percent, depending on the location and type of apartments. Around the same time, Minister of Urban Development, Construction and Housing J.Batsuuri stated that mortgage loans would primarily be directed toward the outskirts of the capital, particularly to projects such as the New Centennial City, now rebranded as Hunnu. These positions have since been formalized in the new regulatory framework. As part of the broader policy to develop ger areas and decentralize Ulaanbaatar, 50 percent of mortgage loans issued in the capital are now planned to be allocated to redevelopment zones, new settlements and satellite towns. In effect, loan access will be limited in the densely populated, central districts of the city, with priority given to suburban areas and ger areas.
This shift means that more than half of the total national mortgage financing will now be directed to rural regions, while the remaining portion will go to what are termed “urban rural areas”, or the outskirts and peripheral zones of the capital. As a result, opportunities for purchasing homes with mortgage loans in Ulaanbaatar’s central districts are becoming increasingly scarce. When asked which specific districts, redevelopment areas, and satellite towns will be prioritized under the new policy, the Ministry of Urban Development, Construction and Housing responded, “We do not know how our suggestions and recommendations were finally reflected in the mortgage loan regulations and contracts. Mongol Bank knows this.” The central bank, in turn, stated, “We will provide the public with objective and comprehensive information about this when we are ready to comply with the new regulations.”
The Ministry of Family, Labor and Social Security and the Ministry of Urban Development, Construction and Housing submitted a proposal to the central bank to introduce a four-tiered interest rate structure for mortgage loans, based on apartment size. According to an expert from the Housing Department’s Sector Development, Housing Policy and Regulation Division, the recommendation suggests setting the mortgage interest rate at six percent for apartments up to 60 square meters, and eight percent for those between 61 and 80 square meters, with corresponding amendments to existing regulations. Contrary to public speculation, loans will not be restricted solely to apartments of 50 to 60 square meters. Instead, these units would simply qualify for the lowest, or base, interest rate. The proposal also includes an interest rate of 10 percent for apartments up to 100 square meters, and 14 percent for those exceeding that size.
Although the need to differentiate subsidized mortgage loans based on citizens’ income levels and housing needs has been discussed for years, it has yet to be realized. This reform aims to change that. Data shows that access to mortgage loans remains disproportionately limited for low- and middle-income citizens. Of the 110,000 borrowers who have received preferential loans to date, only 40 percent are from middle- or low-income groups; the majority are high-income earners. “We are pursuing a policy to create more favorable and accessible conditions for middle-income and below-average income citizens, particularly first-time homebuyers living in suburban and rural areas,” the expert noted, emphasizing a shift in policy direction toward greater equity and inclusivity. 
To further strengthen the government’s efforts toward equitable housing access and regional development, the mortgage loan reforms are being integrated with newly introduced social and economic support frameworks. Programs like “My First Home” are designed specifically for first-time homebuyers, with a focus on young families and newly employed citizens, particularly in rural and suburban areas. “My Rental Apartment” aims to support those who are not yet ready to buy but need stable and affordable housing, while “My Primary Apartment” focuses on making permanent, quality housing more accessible through long-term ownership support. The “My Choice Local Area” and “My Choice Civil Servant” programs target regional migration and public sector workforce stability by offering preferential mortgage terms for those relocating to or working in rural provinces and small towns. These programs align closely with the government’s strategic goal of easing population pressure in Ulaanbaatar by encouraging voluntary relocation to satellite cities and underpopulated regions.
Mortgage loans under these programs are subject to revised eligibility and approval criteria that prioritize citizens with no previous homeownership, consistent employment, and long-term plans to reside in the target region. Importantly, these changes promote sustainability, requiring that financed housing meet green standards, including energy efficiency, modern insulation, seismic safety and reduced utility consumption.
In addition to adjusting interest rates and apartment size eligibility, the revised mortgage regulations also include new terms for down payments, loan periods, and credit scoring criteria. Special considerations are now being explored for single parents, citizens with disabilities, and young couples - groups that have traditionally faced higher barriers to entering the housing market. Despite the growing anticipation around these changes, a lack of clarity around timelines continues to raise concern. Commercial banks are awaiting final regulatory approval and official guidelines from Mongol Bank before updating their lending procedures. Until then, implementation remains in a transitional phase, with limited public awareness and confusion over current versus future loan conditions.
Meanwhile, housing developers are beginning to respond to the new policies by planning construction projects in compliance with green and resilient building standards. Some provinces have reported a rise in inquiries from citizens considering relocation, spurred by the promise of easier loan access and more favorable living conditions. Experts say that the success of this ambitious housing reform will hinge not only on its design but on its execution, particularly the fair allocation of funding, transparent communication of rules, and consistent coordination between ministries, banks, and local governments. If these elements are managed well, the reform could significantly reshape Mongolia’s housing landscape and offer new hope to tens of thousands of aspiring homeowners.

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Ian Miller, Broncos out to write more history for Mongolia in BCL Asia 2025 www.fiba.basketball

DUBAI (United Arab Emirates) - He's been to various parts of the globe to play professional basketball, but taking his talents to Mongolia has proven to be one of the best decisions Ian Miller has ever made.
Mainly because he achieved success that's far bigger than championships and awards.
"This is probably top 2, top 3 of my basketball moments because it's nothing like making history," said the 33-year-old, who's been playing pro for 11 years now. "You're down forever for [being] the first to ever do it."
"We're taking pride in that - I, for sure, take pride in that; you know, representing my family, and everybody that had something to do with me growing in the game of basketball, it means a lot," he furthered.
Breakthroughs have indeed defined the 2024-25 season of him and Ulaanbaatar Xac, particularly the accomplishments they have written in the FIBA club competition circuit in Asia.
After a heartbreaking run in the BCL Asia Qualifiers last year, the Broncos authored a storybook ending to their redemption tour by claiming the BCL Asia-East 2025 crown by beating the Taoyuan Pauian Pilots.
They became the first Mongolian professional team to capture a regional title and making it all the more special was that they won as much in front of their home fans as the Final 4 was held at the MBank Arena.
But it was actually a triple celebration, too. Miller went on to earn BCL Asia-East Most Valuable Player honors after posting per-game averages of 17.9 points, 2.6 rebounds, and 5.6 assists to lead their eight-game sweep.
"It's about our team," said the Florida State alumnus in getting the tilt's highest individual plum. "My teammates trusted me to make the right plays and decisions, and the stats just handled himself afterwards."
Miller, no question, has been a huge reason why Ulaanbaatar Xac upped the ante when they acquired his services last March, although he refuses to take all the credit but rather deflects as much to his brothers.
In the three months he's been with the team, the Charlotte-native is just filled with much joy with the kind of bond he's been able to form with his teammates, which definitely is showing on the hardwood.
Another solid proof of which was their 2024-25 The League campaign, where they went on to win the whole thing to give the club its third title in the last four seasons and grow their overall collection to seven.
"We are definitely a family. Everybody joined at the hip," said the Mongolian league MVP. "Everybody knows the strengths and weaknesses of each other. We play through each other's strengths, we sacrifice for each other."
"It's been fun since I've been here, man. There's not a lot of dull moments," Miller continued with a smile. "Even with the coaching change there were still great times, and we're all growing together."
And being that tight-knit of a unit, the entire Broncos have also shared a responsibility among themselves, which is, of course, to represent Mongolia the best they can - most especially now that they're in the grand stage.
By winning the BCL Asia-East 2025, the team qualified for the BCL Asia 2025, a feat that's historic per se as they have become the first Mongolian team in 13 years to reach Asia's highest club competition.
"It's all about our team, how we're evolving as a team and as an organization in the Mongolian Basketball League," he said. "Now we're the representatives. We take pride in making everybody in that country look good."
They've already made heads turn in the 'City of Gold' right on opening day following an 84-67 victory over CBA champions Zhejiang Guangsha Lions, eventually reaching the Quarter-Finals with a 1-1 card.
No team from Mongolia has gotten past the Group Phase of the tournament formerly known as the FIBA Asia Champions Cup, let alone win a single game, until the Broncos changed the narrative.
The first Mongolian team to take part in the prestigious competition, the Energy R. Falcons, went back home empty-handed from the 2012 meet after losing all four of their games in the preliminaries.
Fast forward to now and Ulaanbaatar Xac brought renewed sense of pride to the country, but Miller and his team have no plans whatsoever of stopping, especially now that they're in the knockout stages.
"We're on a business trip. It's a nice place, a vacation place, but this is business for us," he said. "We got two missions completed; now, we're going for the third one."
FIBA

 

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Mongolia’s Next Government May Face Rising Fiscal Risk www.fitchratings.com

Fitch Ratings-Hong Kong-09 June 2025: A sharp fall in revenues from coal exports will present challenges for Mongolia’s next government, says Fitch Ratings. Risks to public finances could be further heightened if the authorities opt to loosen fiscal policy in response to the recent bout of public protest.
Prime Minister Oyun-Erdene resigned on 3 June after losing a vote of confidence in parliament, following the demonstrations against him. We expect the ruling Mongolian People’s Party (MPP), with a simple majority in the parliament, should be able to appoint a new prime minister relatively quickly.
Swift resolution of the political volatility would support broad policy continuity and put the government in a position to respond to the recent coal-price shock. More prolonged instability, which is not our baseline assumption, could have greater adverse effects on Mongolia’s credit metrics.
Current spending rose 20% yoy in 4M25, and moves to assuage public discontent may add to upward pressure on spending, challenging efforts to reduce imbalances created by pro-cyclical fiscal policies. Mongolia’s fiscal rules have been strengthened in recent years, with a rule capping current spending and debt at 30% and 60%, respectively, of nominal GDP. The structural deficit is also limited to 2% of GDP. However, the authorities’ record of implementing the rules is short, and it is unclear how tightly they will be enforced in the face of external headwinds. Moreover, the government seems to have significant leeway in its calculation of the structural fiscal balance, based on its own commodity revenue projections.
Meeting the government’s target of a zero structural balance for 2025 would be likely to require slower fiscal spending as commodity revenues decline. Without fiscal policy adjustment, Fitch conservatively projects the headline budget deficit could reach 3.0% of GDP for 2025, against the government’s targeted 3% surplus, reflecting our latest assumptions for coal and copper exports and spending.
The outgoing government prioritised 14 mega-projects that require significant medium-term investment. Slower execution of the capital budget, for example because of the impact of recent events on government policy or investor sentiment towards these projects, could reduce near-term spending but would weigh on Mongolia’s medium-term growth potential.
When we upgraded Mongolia’s ratings in September 2024 to ‘B+’ with a Stable Outlook, from ‘B’, we stated that political instability or major policy shifts sufficient to significantly disrupt strategic mining projects or FDI inflows could create downward pressure on the rating.
Mongolia’s goods exports fell by 13% yoy in US dollar value terms over 4M25, led by a 39% yoy decline in coal exports. The drop in coal exports was only partly mitigated by a 58% yoy increase in copper exports. Weaker exports have contributed to a widening of the current account deficit. However, the Bank of Mongolia (BoM) has raised interest rates to 12%, from 10%, this year in the face of rising inflation pressures, and the Mongolian tugrik depreciated by 4.3% between end-2024 and end-May against the US dollar, which may help to contain import demand.
Mongolia’s external buffers strengthened in 2024 but could be eroded if export performance continues to weaken. Official reserves stood at USD5.1 billion in April 2025, but the BoM’s foreign liabilities have increased by USD470 million since January, reducing the net reserve position.
Our September 2024 upgrade of Mongolia’s ratings reflected our view that larger foreign-exchange reserves, lower debt and more manageable external debt maturities had strengthened Mongolia's ability to withstand shocks, including commodity-price corrections. Nonetheless, we believe the country remains highly vulnerable to external conditions. Significant external stress, like a commodity shock amid expansionary domestic economic policies, that erodes Mongolia’s foreign reserves could lead to negative rating action.

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Corruption seen as bigger risk to Mongolian democracy than Chinese, Russian influence www.washingtontimes.com

Mongolia’s young democracy is being strained after the ouster of Prime Minister Luvsannamsrai Oyun-Erdene, who stands accused of corruption.
Mr. Oyun-Erdene resigned and the country’s ruling coalition collapsed after a June 3 non-confidence vote by the legislature.
He warned that his ouster “… could lead the public to lose faith in parliamentary rule and potentially put our democratic parliamentary system at risk of collapse.”
Democracy in Mongolia, which lies between authoritarian Russia and Communist China, has proven resilient so far, weathering frequent political crises since being established in 1990, with four coalition governments.
Mongolian experts say the bigger threat is corruption, a longstanding issue in the fledgling democracy.
Mr. Oyun-Erdene, then seen as a star member of a new generation of politicians, took office as premier in 2021 and won reelection in 2024, vowing to crush a culture of graft that has antagonized the country’s youth. He won some plaudits for tackling corrupt officials, but ironically, fell prey to charges of corruption himself.
Careless social media posts by the fiancée of his son showcased the kind of lavish lifestyle – a Harvard education, a Mercedes automobile, helicopter rides and luxury products – that the son of a man on a civil servant’s salary would be unable to afford.
That ignited youth in the capital. Anti-corruption protests, and a petition demanding Mr. Oyun-Erdene’s removal, kicked off in Ulaanbaatar in May and continued for weeks.
The protests detonated a political flare-up. The ruling coalition government cracked after Mr. Oyun-Erdene’s party, the socialist democratic Mongolian People’s Party, expelled its junior partner, the Democratic Party, for supporting the protesters.
“The collapse of the government and failure of the system to produce a prime minister worthy of the job is a setback,” said Denny Roy, who watches the region from the East-West Center for Security in Honolulu. “There is reason to hope that [the protests] will send a message to future politicians, that the political culture is now less tolerant of corruption and demands greater transparency.”
NGO Transparency International ranks Mongolia poorly for corruption: It is in 114th place out of 180 nations in its Corruption Perceptions Index. A 2002 coal theft case, which saw illegal shipments crossing the border into China, may have led to national losses of a staggering $11-12 billion.
The World Bank estimates that 27% of Mongolia’s 3.5 million population lives below the poverty line. Mining industries, which make up more than 80% of Mongolia’s exports, have enabled massive wealth accumulation by a fortunate elite, related corruption among officials and environmental degradation.
Mongolia is gifted with rich coal, copper and gold seams, some of which are being exploited by international mining concerns that have partnered with Mongolian interests. It also boasts deposits of valuable elements used in metallurgy and munitions and petrochemical production.
Despite the corruption concerns, the protesters weren’t violent, and the authorities responded following democratic principles. That led some to question Mr. Oyune-Erdene’s warnings — and related jitters in global media.
“A diverse group of people toppling the government is a democratic movement,” said Bolor Lkhaajav, a U.S.-based Mongolian researcher, who noted that the protests lured individuals angry with both corruption and environmental issues. “There is nothing to argue with about that.”
The legislature’s no-confidence vote on June 3 opened a 30-day window for Mongolia to choose a new prime minister.
Mr. Oyun-Erdene, who had formerly vowed to step down if the MPP-Democratic Party coalition broke apart, bowed to the vote. He is remaining as caretaker premier until a successor is nominated by the president and voted on by the legislature. Power in the country is split among the legislature, known as the State Great Khural, the prime minister and the president.
Mongolia overthrew communism after pro-democracy protests in 1989, adopted a democratic constitution in 1992, and has continued to make constitutional tweaks in the years since.
Defying its landlocked location, Mongolia is a “global partner” of NATO and deployed small troop contingents to the U.S.-led military campaigns in Afghanistan and Iraq.
At the same time, it has maintained cordial relations with neighboring Moscow and Beijing.
In 2024, the diplomatically nimble Mr. Oyun-Erdene held meetings with Russian President Vladimir Putin and with Vice President Kamala Harris, and hailed Chinese-Mongolian relations.
Yet, even compared to other nations in East Asia, Mongolia’s export sector is massively dependent upon China. For imports, it depends heavily upon both Russia and China.
Some warn that Mongolia is vulnerable.
“If I was Mongolian, I would worry about eventually being absorbed by China,” Mr. Roy said. “The People’s Republic of China represents a long history of digesting smaller nations on China’s periphery — such as the South China, the Yellow Sea and the China-India border.”
Not all agree. Given that China already has massive trade leverage over the vast but underpopulated country, Ms. Lkhaajav did not see any reason to fear.
“Mongolia is small [in population] compared to Russia and China, but is an independent state,” she said. “That does not mean they are not trying to gain influence and economic advantage, but it is more about balancing geopolitical spheres with both countries … I don’t see any direct impact on Mongolian democracy.”
The major risk is internal, she says.
“If you asked me what the major issue facing Mongolia is, I would say corruption.”
BY  • Andrew Salmon can be reached at asalmon@washingtontimes.com.

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MPP Nominates Zandanshatar Gombojav for Prime Minister of Mongolia www.montsame.mn

The 7th Session of the Conference of the Mongolian People's Party (MPP) was held on June 9, 2025, during which the Party decided to nominate Zandanshatar Gombojav for the position of Prime Minister of Mongolia.
Announcing the decision, Secretary-General of the MPP Sodbaatar Yangug noted, “This morning, the MPP Board convened and unanimously agreed to nominate Zandanshatar Gombojav for the post of Prime Minister, and subsequently submitted his candidacy to the Party’s Conference. Although three other individuals initially put their names forward during the Session, two later withdrew. As a result, a vote was held between Zandanshatar Gombojav and Temuulen Ganzorig, with 67.4 percent of members voting in favor of nominating Zandanshatar."
“Within the confines of the law, Zandanshatar’s nomination will now be submitted to the State Great Khural (Parliament) of Mongolia. Given that the MPP holds a parliamentary majority with 68 seats, the Party is confident that G. Zandanshatar will be appointed as the next Prime Minister. The Conference is the Party’s highest representative body, and we are confident that the MPP Faction in Parliament will fully support its decision,” added the Secretary-General.

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Rio Tinto faces major engineering change at Oyu Tolgoi www.mining.com

Rio Tinto (LON: RIO) (ASX:RIO) has approved a shift in underground development at its Oyu Tolgoi copper-gold mine in Mongolia, pausing progress in the Entrée Resources (TSX: ETG) joint venture area due to ongoing delays in license transfers.
The company said the ramp up of production from Oyu Tolgoi remains on track to deliver an average of around 500,000 tonnes of copper from 2028 to 2036, with options including bringing Panel 1 or Panel 2 South into production first depending on the timing of the Entrée licence transfers.
“With lateral development work only just beginning in Panel 1, this is the right time to pivot and bring forward development in Panel 2 South to maintain our options,” Katie Jackson, chief executive of Rio Tinto Copper, said in a statement.
While limited development will continue in parts of Panel 1 outside the JV boundary, Rio Tinto confirmed that resources will now be reallocated to expedite progress in the more accessible Panel 2 South.
The development freeze in the Entrée JV area stems from a delay in transferring licences to Oyu Tolgoi LLC (OTLLC), the operating entity jointly owned by Rio Tinto (66%) and the Mongolian government (34%).
Entrée expressed disappointment over the holdup. CEO Stephen Scott noted that the transfer process began in February 2025 but remains incomplete.
“The parties have always intended for OTLLC to hold title to the Shivee Tolgoi and Javkhlant mining licenses on behalf of the JV participants,” Scott said. “It is a requirement of the 2008 JV agreement and contemplated in the 2009 Oyu Tolgoi investment agreement.”
He cautioned that any significant delay in development at Lift 1 Panel 1 could adversely impact the project’s cost, schedule, and Entrée’s financial position and share price.
As one of the world’s largest known copper-gold resources, Oyu Tolgoi plays a pivotal role in Rio Tinto’s growth strategy and Mongolia’s economic development.
Open pit mining at Oyu Tolgoi first started in 2011, and the copper concentrator, the largest industrial complex ever built in Mongolia, began processing mined ore into copper concentrate in 2013. Last year, underground production also kicked off, which is expected to elevate Oyu Tolgoi into one of the world’s top copper producers by 2030.

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Chinggis Khaan airport to be expanded through Japan's concessional loan www.akipress.com

Acting Minister of Roads and Transport Delgersaikhan Borkhuu met with Ambassador of Japan to Mongolia Masaru Igawahara, Head of JICA Mongolia Office Kensuke Miyagi and Oriental Consultants Global representative K. Takahashi to discuss the expansion of Chinggis Khaan International Airport through Japan's concessional loan.
Acting Minister Delgersaikhan expressed gratitude for the cooperation and emphasized the urgent need to increase the airport's capacity. He noted that the airport's passenger traffic has been growing rapidly and the airport is currently operating at high capacity, which requires urgent measures to expand infrastructure and improve efficiency.
K. Miyagi from JICA and K. Takahashi from Oriental Consultants Global presented the preliminary design and partial expansion plan of the airport's east and west wings, outlining potential options such as building a new passenger terminal, expanding the existing terminal and extending the runway.
The Acting Minister stressed the importance of aligning the feasibility study with Mongolia's long-term development goals, including urban growth, population projections, customs operations, and Ulaanbaatar's congestion. He asked that the planning cover the period up to 2050 and reflect the expected growth in tourism and international passenger traffic.
Both sides agreed to pool their proposals, start construction early, and aim for early completion. The feasibility study will include input from Mongolian transport and aviation experts, address infrastructure issues, and will be presented for discussion at the cabinet level. The parties also pledged to maintain close coordination throughout the process.

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Contract for the Construction of Gashuunsukhait-Gantsmod Cross-Border Railway Signed www.montsame.mn

“Tavantolgoi Railway” LLC of Mongolia and “China Railway Construction Bridge Engineering Bureau Group” Ltd of the People’s Republic of China have finalized and signed the Contract for the Construction of the Gashuunsukhait-Gantsmod Cross-Border Railway.
The Signing Ceremony was attended by Acting Minister of Road and Transport of Mongolia Delgersaikhan Borkhuu, Head of the Department of Railway and Maritime Transport Policy and Coordination of the Ministry of Road and Transport Kh. Itgelt, Executive Director of “Tavantolgoi Railway” LLC B. Dugerjav, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Mongolia Shen Minjuan, Economic Advisor Liu Jingzhi and Secretary of the Economic and Trade Department of the Embassy of the People’s Republic of China in Mongolia Cao Yue, Deputy General Manager of “China Railway Construction Bridge Engineering Group” LLC Li Guoqiang, and General Manager of “China Railway Construction Bridge Engineering Group International” LLC Xie Xiaoche.
The base structure of the railway, including the cross-border railway bridge, a station for broad and narrow gauge tracks, technological buildings and facilities are planned to be put into operation within 24 months, and on the 15th of this month, the Mongolian and Chinese sides will drill the first pier foundation of the bridge.
The Gashuunsukhait-Gantsmod Cross-Border Railway Project will boost Mongolia's coal export volume, transport and logistics capacity, and economic growth. The implementation of the Project will facilitate the connection between the Shiveekhuren-Sekhee, Bichigt-Zuunkhatavch, and Khangi-Mandal ports on the Mongolian and Chinese borders by rail, as agreed upon by the Intergovernmental Agreement. As a result, coal exports will increase from 83 million tons to 165 million tons, raising annual export revenue by USD 1.5 billion, and contributing to Mongolia's GDP per capita reaching USD 10 thousand. It is also estimated that transportation costs will decrease by 2-2.5 times, export output will increase by 30 million tons, and transportation revenue will increase by USD 300 million. In addition, 200 permanent and 800 temporary jobs will be created, which will be a leverage in supporting regional development and employment.
The 32.6 km first-class railway will have dual tracks, with 1,520 mm broad gauge and 1,435 mm standard gauge, 19.5 km of main line and single- and double-track bridge structures 8–31 meters high. Its design capacity is 30 million tons of freight annually on the broad gauge and 10 million tons on the standard gauge. Under relevant legislation, the State Procurement Agency of Mongolia conducted the contractor selection and awarded "China Railway Construction Corporation" (CRCC) the contract. Its subsidiary “China Railway Bridge Engineering Bureau Group” will carry out construction.
Listed first among the 14 mega-projects in the Government’s 2024–2028 program, the cross-border railway is being developed under an Inter-Governmental Cooperation Agreement signed in Harbin on February 14, 2025, and ratified by the State Great Khural on March 27, 2025. The Agreement covers three initiatives, including joint construction of the cross-border railway, a long-term coal purchase-and-sale contract, and expansion of coal-mine capacity. The “Joint Construction of the Cross-Border Railway” agreement was finalized and signed on 14 May, followed by a joint groundbreaking ceremony. This will be the second cross-border railway to be built after the Zamyn-Uud-Ereen railways established under the 1955 Agreement between Mongolia and the People's Republic of China.

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Ban Ki-moon donates 180 million tugriks for Mongolia's One Billion Trees movement www.akipress.com

President of Mongolia Khurelsukh Ukhnaa received 8th Secretary-General of the United Nations Ban Ki-moon and Founder of the Ban Ki-moon Foundation For a Better Future on June 6. Ban Ki-moon is participating in the Sustainability Dialogue 2025 - Climate Action: Billions of Trees International Forum in Ulaanbaatar, Montsame reported.
President of Mongolia Khurelsukh Ukhnaa noted that the President highly appreciates Ban Ki-moon's active work in achieving Sustainable Development Goals, protecting the environment, and combating climate change during his tenure as UN Secretary-General.
President Khurelsukh expressed satisfaction that these efforts are continuing and expanding today, including through the Sustainability Dialogue 2025 - Climate Action: Billions of Trees International Forum, which is co-hosted with the Ban Ki-moon Foundation For a Better Future.
Ban Ki-moon expressed gratitude to President Khurelsukh Ukhnaa for organizing this Forum, demonstrating leadership in implementing the Sustainable Development Goals and combating climate change.
He noted that the Ban Ki-moon Foundation would continue to cooperate with Mongolia on advancing Sustainable Development Goals, combating climate change, improving public health, enhancing women's leadership and participation, and supporting children and youth.
The 8th Secretary-General of the United Nations announced a donation of MNT 180 million in support of the One Billion Trees national movement and proposed collaborating to expand the movement into a regional initiative.

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