Feb 27, 2025 64 min read Daily News Summaries

Mongolia News Summary for February 27, 2025

The following news articles are the opinions of their authors and publications. They are presented here as translations for informational purposes and do not necessarily represent the opinion of MongolBeat or its members.

Today's Stories

Politics

The Government Illegally Granted 'Ukhaa Khudag' Mine to MCS Group

Published: 2025-02-26 | Translated from: gogo.mn

The GoGo team is working to deliver information directly. In January 2008, former director of Erdenet factory, Kh. Naranhuu, was appointed as Minister of Industry and Trade. Minister of Justice and Home Affairs O. Altangerel provided the following information: - A working group has been established to analyze and evaluate the issue of granting a special license for mineral resources of strategic importance in the Tavan Tolgoi coal deposit to a private entity, as per the Prime Minister's Resolution No. 32 of 2025. Today we introduced the conclusion of this working group. The government has made the relevant decision. The working group studied many issues. Representing the government, the Minister of Industry and Trade signed a contract with "Energy Resource" company. As this contract was illegally made, a government resolution will be issued to nullify the contract titled "On the Transfer of Special Mining License." This contract violated both the Constitution and the Law on Mineral Resources. The Ukhaa Khudag mine is considered a strategic deposit. However, in 2008, the Minister of Industry and Trade signed a contract with "Energy Resource" LLC, granting 100% ownership of the deposit to a private company. This decision should be made by the legislative body, as it is a strategic deposit. To this day, this contract remains undiscovered. We have not found the contract in the archives of the Government Cabinet Secretariat. Upon reading the government's records from that time, the Minister of Industry and Trade was tasked to report back to the government on what percentage of the Ukhaa Khudag deposit should be owned by the state. This constitutes a criminal offense. However, I cannot speak for the court. Why this issue has not been raised for 17 years remains unknown. The minister who abused their power will surely be held accountable. The fact that investments have been made and factories built does not allow for bypassing this issue. We will take this issue to Parliament for discussion.

Back to Table of Contents

Today, the Government Will Discuss the Following Issues

Published: 2025-02-26 | Translated from: gogo.mn

The Government meeting will discuss the following issues: - The report and results of geological research projects implemented with state budget funds over the past 5 years. - The draft government resolution on "Amending the Resolution and Its Annex" / The 2022 Government Resolution No. 143 on "Approving the General Development Plan of the New Zuunmod City". - The draft revised law on the Chamber of Commerce and Industry initiated by the Member of Parliament Kh. Ganhuya. - The draft government resolution on "Transferring the Public Holiday". - The report on monitoring and evaluation of the implementation of the laws, resolutions, and decisions of Mongolia by the end of 2024. A total of 25 issues will be discussed.

Back to Table of Contents

O. Altangerel: Granting "Ukhaa Khudag" to Energy Resource Violates the Constitution

Published: 2025-02-26 | Translated from: itoim.mn

The ministers provided information on issues discussed and resolved at the regular meeting of the government. At the meeting, Minister of Justice and Internal Affairs O. Altangerel presented the conclusions of the Working Group, which analyzed the government's decision to grant the "Ukhaa Khudag" mine to private ownership. The minister provided information on this matter. The Minister of Justice and Internal Affairs O. Altangerel stated that the Working Group, established by the Prime Minister's Decree No. 32 of 2025, presented their findings on the government's previous decision to grant the strategic Tavan Tolgoi coal deposit's special license to a private enterprise. The government decided to submit a draft resolution to the State Great Khural based on the corresponding decision project. The Working Group concluded that the agreement signed by the Minister of Industry and Trade on behalf of the Government of Mongolia with "Energy Resource" company on March 21, 2028, to transfer the special mining license was illegal and flawed. This agreement violated the Constitution of Mongolia, the Law on the Government of Mongolia, and the Mineral Law that was effective at the time and is in effect now. In 2007, the State Great Khural adopted a resolution including Tavan Tolgoi, specifically the area under "Energy Resource"'s special license, as a strategic deposit area, thus not granting any individual or entity the right to directly own it through agreements without the existing Minister of Industry and Trade's authority. Furthermore, when examining the records of the government's meeting at the time, they stated that the issue should be studied and referred back to then-Minister of Industry and Trade H. Narankhuu for resolution by the Prime Minister, but this process was violated. The conclusion presented to the government stated that the 2007 State Great Khural resolution regarding the strategic importance of the Ukhaa Khudag deposit was violated and has remained so until now. Moreover, conditions are emerging that must be investigated. Initially, there is an individual who possibly misused their official position and authority to acquire this deposit's license for themselves, causing potentially significant damage to Mongolia, related to specific persons whose issues should be further resolved by legal and judicial authorities. As for the issues being discussed regarding the Ukhaa Khudag deposit, the government has decided to present a draft resolution to the State Great Khural for discussion and decision-making. The state has no copy of the agreement that Minister of Industry and Trade H. Narankhuu purportedly signed with "Energy Resource". Subsequently, he answered questions from journalists. - You mentioned that the 2007 State Great Khural resolution was not implemented. Why do you think it wasn't applied? Does this mean they chose not to implement it despite knowing? - The resolution's appendix of 2007 clearly states that these areas are part of the strategic deposits. By name, including the "Energy Resource" LLC's territory and Tavan Tolgoi LLC or small Tavan Tolgoi and other named ownerships, they are strategic deposits. These strategic deposits should have state ownership. However, the percentage of ownership is to be explained by the government. Since 2007, this issue has not been discussed by the State Great Khural at all. Also, the government is responsible for presenting it to the State Great Khural. The meeting decision specifies that it was the minister's duty to present it back to the government. Your question is correct. I cannot answer why this issue was not discussed or raised in the past. However, I see that there was no interest in discussing it. For instance, the state does not have a copy of the agreement reportedly signed by the Minister of Industry and Trade H. Narankhuu with "Energy Resource". The Cabinet Secretariat, Minerals Authority, and the archive of the ministry at the time tried to find the original agreement but couldn't find it to this day. Therefore, I conclude that there was a group interested in not discussing it. - What responsibility is placed by law on those who did not implement the resolution? - The damages caused to the state can be several criminal offenses. However, I do not have the right to talk about guilt on behalf of the court. Certain individuals did not present it to the government, the government did not decide it through the State Great Khural, and the resolution of the State Great Khural has not been implemented to date, while commercial activity has continued. I would like to emphasize one thing. This is about the wrongful acts and process errors of public officials who served, not an assessment of private ownership or the company that invested. General information clarified the company’s earnings, taxes paid, and refunds received over the years. This is not an issue related to a private enterprise but stems from the failure of certain individuals to uphold or abuse their authority. The issue cannot continue with the State Great Khural resolution unimplemented. The government must work to fulfill the legal compliance as stated in the Constitution. Therefore, the government plans to implement the resolution of the State Great Khural actively. In this framework, the State Great Khural itself will determine the state ownership proportion for the deposits listed in the 2007 resolution's appendix and implement it. Alongside this, accountability will inevitably be discussed. - The minister's signature on an agreement that violated the law allowed a private company to claim ownership of the mine, invest, and operate up to this day. Will the state consider the investments made by the company when determining its share? - It must be considered. Since the enterprise invested and operated commercially, discussions must occur. The principle of discussion will be maintained for this issue. However, there's no avoiding the implementation of the State Great Khural resolution or the highest legislative body’s decision, regardless of the investments made or the initiated actions. The resolution has to be implemented. In doing so, negotiations must consider the situation of private enterprises that made investments.

Back to Table of Contents

Introducing: Operating Hours of Border Checkpoints

Published: 2025-02-26 | Translated from: news.mn

We present the operating hours schedule for the year 2025 of the border checkpoints of Mongolia. The information for the 17 checkpoints on the border with China is detailed below. The operating schedule for 2025 of the 16 checkpoints on the border with Russia is also provided. The General Customs Administration has introduced the operating hours of the checkpoints for the coming March. According to this schedule, 6 checkpoints with Russia and 9 checkpoints with China will be temporarily closed next month. Please refer to the table below for further details.

Back to Table of Contents

D. Trump to Launch 'Golden Card' Visa Program for Wealthy Individuals

Published: 2025-02-26 | Translated from: gogo.mn

U.S. President Donald Trump announced a new visa program that would allow foreign nationals who invest $5 million in the United States to obtain permanent residency and citizenship. Although the U.S. is conducting an unprecedented large-scale operation to deport undocumented immigrants, this decision represents a significant opening for legal immigration. The program, known as the 'Golden Card,' will be launched within two weeks and does not require congressional approval, according to President Trump. The full scope and implementation details of the program are currently unclear. "We will be selling golden cards. We will set the price at approximately $5 million and offer the advantages provided by green cards," President Trump highlighted while signing the order. The new program is intended to replace the current EB-5 program, which issued green cards to immigrant investors who invested a certain amount in U.S. businesses, as reported by U.S. Secretary of Commerce Howard Lutnick. The U.S. Secretary of Commerce has informed that the new program is intended to replace the current EB-5 program.

Back to Table of Contents

The New Party Joins the Democratic Party

Published: 2025-02-26 | Translated from: gogo.mn

The New Party joins the Democratic Party. Representatives of the New Party stated, "We had previously separated from the Democratic Party. As our ideologies and programs are aligned, we are reuniting. We will submit our joint program to the State Great Khural (Parliament) and work to implement it. By working together, we will save our homeland."

Back to Table of Contents

Economy

What is stated in the resolution regarding the inclusion of a deposit as a strategically significant mineral?

Published: 2025-02-26 | Translated from: gogo.mn

A resolution proposal to implement the 2007 Parliamentary Resolution will be discussed by the Parliament, according to the Minister of Justice and Internal Affairs, O. Altangerel, at the State Palace today. In 2007, when Ts. Nyamdorj was the Speaker of the Parliament, M. Enkhbold was Prime Minister, and Kh. Narankhuu was the Minister of Industry and Trade, the following resolution was approved. This resolution remains in effect but has not been fully implemented, hence a decision on its implementation will be sought from the Parliament. ON INCLUDING A SPECIFIC DEPOSIT AS A STRATEGICALLY SIGNIFICANT MINERAL DEPOSIT On the basis of Article 8.1.4 of the Mineral Law, the State Great Khural of Mongolia DECIDES: 1. To include the deposit stated in Annex 1 of this resolution as a strategically significant mineral deposit. 2. To maintain the current conditions of the Erdenet copper-molybdenum deposit, which is being used under the Mongolia-Russia intergovernmental agreement, the Tumurtiin Ovoo zinc deposit, the Nariin Sukhait coal deposit, and the Boroo gold deposit, which are being regulated by stability agreements concluded with other investors by the Government of Mongolia, as stated in Annex 1 of this resolution. 3. To determine in detail the reserves of the mineral deposits stated in Annex 2 of the resolution and those whose reserves have been identified after the approval of this resolution, and to submit proposals to the Parliament on whether to include them as strategically significant mineral deposits, as instructed to the Government/M. Enkhbold/. 4. The Government/M. Enkhbold/ is tasked with preparing, as a priority, proposals on the share of state ownership and management methods of the strategically significant Oyu Tolgoi, Tavan Tolgoi, Tsagaan Suvarga, and Asgat mineral deposits, and submitting them to the State Great Khural. THE SPEAKER OF THE STATE GREAT KHURAL OF MONGOLIA Ts. NYAMDORJ ANNEX 1 TO RESOLUTION | No | Deposit Name | Type of Mineral | Location | Remarks | | -- | ------------ | --------------- | -------- | ------- | | 1 | Tavan Tolgoi | Coal | Ömnögovi, Tsogttsetsii | The block under the special license held by Tavantolgoi JSC, Energy Resource LLC, Erdenes Tavantolgoi JSC accounts for the calculated reserve area. Amendments were made to this clause by Resolution No. 73, June 29, 2018. | | 2 | Nariin Sukhait | Coal | Ömnögovi, Gurvantes | A stability agreement was concluded with the Government of Mongolia. | | 3 | Baganuur | Brown Coal | Ulaanbaatar, Baganuur | The calculated reserve area is included. Extracted by Baganuur JSC. | | 4 | Shivee-Ovoo | Brown Coal | Govisumber, Shiveegovi | The calculated reserve area is included. Extracted by Shivee-Ovoo JSC. | | 5 | Mardai | Uranium | Dornod, Dashbalbar | Exploration was conducted with state budget funds, additional exploration is being conducted with private funds. | | 6 | Dornod | Uranium | Dornod, Dashbalbar | | 7 | Gurvan Bulag | Uranium | Dornod, Dashbalbar | | 8 | Tumurt | Iron Ore | Selenge, Khuder | The special license of this deposit previously held by BLT LLC was revoked in 2006. The calculated reserve area is included. | | 9 | Oyu Tolgoi | Copper, Molybdenum | Ömnögovi, Khanbogd | The deposit's resource assessment report is being prepared for discussion by the Mineral Resources Professional Council. Understood as a group deposit. | | 10 | Tsagaan Suvarga | Copper, Molybdenum | Dornogovi, Mandakh | Exploration was conducted with state budget funds, additional exploration is being conducted with private funds. | | 11 | Erdenet | Copper, Molybdenum | Orkhon, Bayan-Öndör | Regulated by the Mongolia-Russia intergovernmental agreement. | | 12 | Burenkhaan | Phosphorite | Khövsgöl, Alag-Erdene | Four companies hold exploration licenses for the resource-estimated section outside the protected area of Khövsgöl. | | 13 | Boroo | Gold | Selenge, Bayangol | A stability agreement was concluded with the Government of Mongolia. | | 14 | Tumurtiin Ovoo | Zinc, Lead | Sukhbaatar, Sukhbaatar | A stability agreement was concluded with the Government of Mongolia. | ANNEX 2 TO RESOLUTION

Back to Table of Contents

“Erdenes Tavan Tolgoi” JSC Starts Transferring Dividends to Citizens' Accounts

Published: 2025-02-26 | Translated from: ikon.mn

With special permission from MPA Agency, “Erdenes Tavan Tolgoi” JSC has started transferring the second round of 2024 dividends to citizens' accounts today. Those who have 1,072 shares receive 100,000 MNT, while those with 750 shares receive 69,967 MNT. Official sources previously announced that the survey on how to receive the dividends has been organized, and the transfers would be made based on its results on February 28. Warning! Media organizations (TV, Radio, Social, and Web pages) must cite the source (ikon.mn) whenever using our information in any form, whether in full or in part.

Back to Table of Contents

Dividends from "Erdenes Tavantolgoi" are being transferred to citizens' accounts

Published: 2025-02-26 | Translated from: itoim.mn

JSC "Erdenes Tavantolgoi" extracted 30.4 million tons of coal and sold 29.6 million tons in 2024, achieving a net profit of 4.5 trillion MNT, thereby enabling the distribution of dividends to all shareholders. The board of directors decided to distribute dividends of 350,000 MNT from the 2024 net profit to citizens with 1,072 shares, divided into three parts. According to this decision, in December 2024, citizens with 1,072 shares received 121,500 MNT after taxes, and starting in February 2025, citizens with 1,072 shares are being given dividends of 100,006 MNT after taxes. The third installment of dividends is planned to be distributed in April 2025. To welcome the traditional Mongolian Lunar New Year, "Erdenes Tavantolgoi" JSC has begun distributing the 2024 dividends to shareholders, as reported by the Company's Press Office.

Back to Table of Contents

Focus on Increasing Mongolia-Britain Trade Volume

Published: 2025-02-26 | Translated from: isee.mn

Mongolia's Deputy Prime Minister S. Amarsaikhan met with Minister Gareth Thomas, responsible for the export and export finance agency of the Department for Business and Trade, and a Member of Parliament during his official visit to the United Kingdom of Great Britain and Northern Ireland. They exchanged views on the cooperation between the two countries. During the meeting, the parties discussed increasing trade and economic cooperation between the two countries, strengthening strategic partnership, and accelerating trade turnover based on the "Developing Countries Trading Scheme" mechanism implemented by the British Government, among other issues of wide scope. Mongolia's Deputy Prime Minister S. Amarsaikhan introduced some measures and major projects being implemented by the Mongolian Government to improve the foreign investment and business environment. Minister Gareth Thomas expressed his appreciation for the cooperation between the two countries, which has been actively developing since 1963, and stated that they will focus on increasing the types and volumes of goods and products exchanged between the two nations in the future. He also wished success for the 15th Mongolia-Britain Round Table meeting and expressed confidence that effective decisions would be made to expand cooperation between the two countries. Mayor of the Capital City and Governor of Ulaanbaatar City, Kh. Nyambaatar, participated in the meeting and presented the "Ulaanbaatar Metro" project, discussing in detail the possibilities of cooperation with the British side under this project.

Back to Table of Contents

Entrepreneurs Criticize Unequal Tax Regulations

Published: 2025-02-26 | Translated from: unuudur.mn

In connection with the plan to revise the comprehensive tax laws, officials organized five series of discussions at the end of last month. The Mongolian National Chamber of Commerce and Industry (MNCCI) provided information about the suggestions and conclusions made by entrepreneurs during these discussions. During a press conference, the executive director of Naran Trade LLC, D. Udval, stated, “There are fewer taxpayers in the country. For example, our company collects tax from citizens when conducting trade and reports it to the state. Because of this, there are no longer citizens who use services from organizations like ours. Who would want to pay an additional 10% tax and buy goods? It is more beneficial for them to use markets without tax or VAT. This example shows the unequal tax environment and regulations that are in effect. Moreover, VAT is 7% in Singapore, and 6% in Thailand, whereas here it is 10%, which is a policy to restrain entrepreneurs. In fact, online businesses and market traders must also pay VAT. In the future, the new law should abolish returning two percent of the tax and conducting lotteries.” Business owners criticized the currently effective comprehensive laws, arguing they are implemented solely to collect taxes and fees and form the state budget. They contended that after paying taxes, they have no opportunity to expand their activities, increase employees' salaries, invest, or grow with their remaining income. Specifically, firms are being pushed out of the market and beginning to go bankrupt as they have to simultaneously pay 10% VAT, 14% social insurance premium, 10% corporate income tax, as well as other taxes, fees, fines, and penalties. Moreover, tax legislation is incomprehensible to the public, poorly interconnected, and associated rules and forms are ambiguous, with some regulations including provisions that exceed the law, leading to bureaucracy and delays. Tax inspectors interpret certain provisions as they see fit and do not provide professional guidance. Considering these conditions and requirements, a proposal was made for the tax package law to initially support the activities of business entities to accelerate national development, thereby allowing Mongolians and entrepreneurs to work and live in their homeland without pressure or obstacles. Furthermore, it was demanded that the funding of the state budget through tax collection be done at a reasonable level, and the coherence of the package laws and regulations be improved, with terminology and use made clear, understandable, and free of complications. It is also necessary to create a tax system based on fair, equitable principles that are favorable to entrepreneurs. By doing so, tax policy reforms will take an important step towards making the business environment more pleasant and stable, said O. Orgilokh.

Back to Table of Contents

China's Retaliatory Tariffs on the US May Bring Positive Changes to Our Coal Market

Published: 2025-02-26 | Translated from: isee.mn

US President Donald Trump decided to increase tariffs on Chinese imports by 10%. Following this, China announced it would lodge a complaint with the International Trade Organization and declared that it would impose additional tariffs on US imports early this month. China also declared that it would conduct an antitrust investigation against Google as part of several measures. Meanwhile, Trump imposed a 25% tariff on imports from Canada and Mexico, which he agreed to temporarily suspend for 30 days. However, China has not commented on the imposed tariffs but plans to discuss the matter soon with its leader Xi Jinping. The mutual tariffs, being referred to as an international trade war, are not a new development of this year. The conflict originally began in 2018 when Trump increased tariffs on Chinese goods, prompting a reciprocal response from China. Observers believe China is now adequately prepared against Trump's administration. Sources report that China will impose a 15% tariff on US coal and liquefied gas products, as well as a 10% tariff on crude oil, agricultural machinery, and large vehicles. China is the world's largest importer of liquefied gas, primarily sourcing it from Australia, Qatar, and Malaysia. While the US is the world's largest exporter of LNG, it does not significantly export LNG to China. For example, in 2023, the US exported 173.247 million cubic feet of LNG to China, accounting for approximately 2.3% of its total natural gas exports according to the US Energy Information Administration data. Economists have stated that China's retaliatory tariffs against the US will bring significant changes to the coal market. Former Prime Minister M. Enkhsaikhan remarked on this, stating, "The export of US coking coal shipped to China increased by 33% in 2024. The new tariffs compel China to seek sources to increase coal imports from Mongolia and Australia." China's retaliatory tariffs against the US are set to bring major changes to the coal market, potentially leading to an increased coal supply from Mongolia and Australia. Enkhsaikhan shared this information on Twitter.

Back to Table of Contents

Coal Export Price Has Dropped by About 20% from the 2025 Estimate

Published: 2025-02-26 | Translated from: gogo.mn

Mongolia had budgeted to export one ton of coal at an average price of $105 for 2025, but currently, the price of coal is fluctuating at over $80 per ton, dropping by about 20%. The coal price was calculated at $105 based on a 10-year average, according to Minister of Industry and Mineral Resources Ts. Tuvaan. In January, Mongolia exported 5.2 million tons of coking coal for $449 million, registering a 44% decrease in value compared to the same period last year. The decreased demand for coal in the Chinese market and overfilled warehouses at the border are reasons for the reduced uptake from our side, consequently leading to price drops, as reported by "Erdenes Mongol" LLC. To compensate for the fall in coal prices, an increase in physical volume is required, but the current transport and logistics capacity cannot exceed 83 million tons annually, according to the Minister of Industry and Mineral Resources. Therefore, in 2024, the transportation and logistics infrastructure was utilized at its maximum capacity to export 83 million tons of coal. To increase coal exports, it is necessary to expedite the rail link connection at the Gashuunsukhait-Ganqimaodu port. Additionally, preparing the infrastructure to load millions of tons of coal domestically is crucial, as mentioned by Minister of Roads and Transport Development B. Delgersaikhan. As Russia improves its infrastructure and increases its coal exports, coupled with the impact of D. Trump's tariff policies and China's reduced domestic consumption, a bleak outlook for coal exports is appearing in the medium term. Economist N. Enkhbayar emphasized the importance of achieving better value per ton rather than increasing the physical export volume.

Back to Table of Contents

ETT’s Profits Increase Will Lead to Increased Dividends

Published: 2025-02-26 | Translated from: gogo.mn

The Gogo team is working to deliver information directly. Information is being provided regarding issues discussed at the Government meeting. According to N. Uchral, the head of the Cabinet Secretariat, "ETT" JSC has begun transferring the dividends for 2024 to the citizens. Through the E-Mongolia application, a survey was conducted among the citizens. 22,000 citizens opted to deposit their ETT dividends into the Savings Fund. Furthermore, approximately 1,000 citizens chose to spend their dividends on reducing air pollution and urban congestion, or to donate to social projects and programs. If you did not participate in the survey, your dividends will be transferred directly to your account. In the future, it is better to change our approach and deposit into the Savings Fund, said Minister N. Uchral. This savings will be calculated to grow based on the Bank of Mongolia’s policy interest rate. It is appropriate for the National Wealth Fund to be managed by a professional investment company according to the Investment Law, following international examples. Therefore, a working group has been established to amend the law on the National Wealth Fund.

Back to Table of Contents

Ministers to Donate 'Erdenes Tavan Tolgoi' 2024 Dividends to Development Fund

Published: 2025-02-26 | Translated from: montsame.mn

Prime Minister and members of the Cabinet have decided to donate their 2024 dividends from 'Erdenes Tavan Tolgoi' JSC to the Development Fund, announced N. Uchral, the Chief of Cabinet Secretariat, today. He stated that distributing the dividends from ‘Erdenes Tavan Tolgoi’ JSC in cash is not considered optimal. In recent times, a public survey was conducted involving 505,000 participants. Among them, 481,000 expressed the desire to receive their dividends in cash, whereas 22,000 requested to transfer it to their Savings Fund account. In addition, 1,267 citizens have decided to donate their share to the Development Fund, which is aimed at projects reducing city congestion and air pollution. If an individual has requested to transfer their dividends to their Savings Fund account, notifications will be sent to them seeking permission starting today. Hence, your dividends from "Erdenes Tavan Tolgoi" JSC will be automatically transferred to your Savings Fund account. If you did not participate in the survey, the dividends will be directly transferred to your account, he explained.

Back to Table of Contents

Non-Bank Financial Institutions Fined ₮434 Million Due to Traffic Violations by Drivers

Published: 2025-02-26 | Translated from: gogo.mn

The Prosecutor General's Office has met with representatives of non-bank financial institutions and loan operators. The Prosecutor General's Office, in accordance with Article 14.7 of the Violations Act, has examined the implementation of decisions to penalize traffic law violations detected by road monitoring cameras and equipment, aimed at the vehicle owners. Due to registration with the National Center for Auto Transportation, non-bank financial institutions are held accountable for traffic violations committed by drivers of vehicles bought on their finance. Article 3.10, paragraph 1 of the Violations Act states, "If a vehicle is used to commit a violation specified in Chapter 14 of this law, recorded and confirmed by automatic photo and video devices, the owner or possessor of the vehicle will be penalized according to this law." Specifically, when a transport vehicle is purchased on a non-bank financial institution's loan, the institution is recorded as the owner with the National Center for Auto Transportation for credit execution purposes. Consequently, any traffic violations committed by the driver result in penalties for the financial institution. Research reveals that since the enforcement of the Violations Act, 335 non-bank financial institutions have been fined a total of 439,738,000 MNT for 17,664 instances due to driver violations, and 98 loan operators have been fined 327,654,000 MNT for 13,515 cases. In pursuit of enforcing decisions by authorized officers per the provisions and regulations of the Violations Act, the Prosecutor General's Office, alongside the General Police Department, the Financial Regulatory Commission, and the Road Traffic Management Center, consulted with representatives of non-bank financial institutions and loan operators to discuss challenges and exchange insights. Source: UPEG

Back to Table of Contents

Published: 2025-02-26 | Translated from: news.mn

People are writing on social media about how the internet banking of commercial banks is not working and cannot be accessed. Banks have issued a statement regarding this issue. Specifically, today, in connection with the commencement of the transfer of dividends from 1072 shares to citizens' accounts, a load has developed, causing interruptions in internet banking services. Thus, citizens are asked to be patient and temporarily use other payment methods such as cash or card. In terms of the banks, they have informed that the dividend funds will be completely transferred to citizens' accounts by this Friday. Currently, efforts are underway to normalize the suspended services, and commercial banks have asked their customers not to log in via the application temporarily to avoid creating additional load.

Back to Table of Contents

N.Uchral: The Prime Minister and Members of the Government Donated Their Tavantolgoi Dividends to the Development Fund

Published: 2025-02-26 | Translated from: ikon.mn

The head of the Cabinet Secretariat, N. Uchral, provided information about the decisions made at the recent government meeting. N. Uchral stated: "At today’s government meeting, regarding the dividends from the 1,072 shares of the Erdenes Tavantolgoi company, a public consultation was conducted through the I Mongolia platform from February 19-25 of 2025. A total of 505,318 citizens participated, of which 481,809 opted to receive their dividends in cash. Furthermore, 22,440 citizens chose to receive it in their savings account through the Accumulation Fund, and 1,267 citizens expressed a desire to donate to the Development Fund or to contribute to improving city infrastructure, reducing traffic congestion, and cutting air pollution. If one did not participate in this survey, their dividends will be disbursed in cash before the Lunar New Year. Today, the Prime Minister of Mongolia and members of the government donated their Tavantolgoi dividends to the Development Fund as private citizens. The government proposed that Erdenes Tavantolgoi should distribute dividends quarterly as a shareholder. In April, the Board of Directors of Erdenes Tavantolgoi is scheduled to meet and issue the next 100,000 MNT. In future cases of increased sales and profits of the company, the dividends received by shareholders will consequently increase as well." Notice: Please be aware that media organizations (TV, Radio, Social, and Websites) must credit Ikon.mn if they use our information in full or in part.

Back to Table of Contents

Proposal to Reduce VAT from 10% to 5% Submitted to the Ministry of Finance

Published: 2025-02-26 | Translated from: isee.mn

Businesses are unable to grow after paying taxes, prompting the submission of a proposal to reduce VAT from 10% to 5% to the Ministry of Finance. The reform of the package of tax laws is planned to be completed during the spring session. In connection with this, the Secretariat of the State Great Khural is consulting with businesses and organizations to hear their opinions and conducting discussions at all levels. Additionally, Member of Parliament B. Purevdorj has drafted a bill to reduce the VAT from 10% to 5%. In line with this, the Mongolian National Chamber of Commerce and Industry (MNCCI) has officially submitted a proposal to reduce the VAT rate from 10% to 5% to the Ministry of Finance and related organizations. Specifically, the business community presented the following proposals related to tax reform to the MNCCI, which consolidated them and submitted them to the Ministry of Finance. The proposals include reducing the VAT rate from 10% to 5% while widening the tax base, shifting the tax base for taxable income to a cash basis, eliminating or raising the threshold for progressive corporate income tax rates, allowing the deduction of taxes paid on the purchase of fixed assets, increasing the threshold for simplified tax regimes’ total sales from 50 million MNT to 400 million MNT, creating incentives to encourage employment, changing the fundamental principles of income recognition, simplifying and optimizing tax relief regulations, researching international tax regulations and integrating best practices. The MNCCI conducted a survey called 'Mongolian Business Environment-2023' involving about 5,000 business entities. According to the survey results, the tax environment has deteriorated by 0.12 points or 5% since 2020, scoring below average at 2.50 points. This indicates ongoing difficulties in the tax environment for business operations. In 2024, the total tax revenue in Mongolia is expected to reach 27.4 trillion MNT, growing by 5.9 trillion MNT or 27.4% from the previous year. Income tax accounts for 32.8% of this, VAT for 21.4%, social insurance revenue for 17.2%, excise tax revenue for 4.0%, with other types of taxes, fees, and charges making up the remaining 18.1%. Corporate income tax constitutes 71.4% of the income tax revenue, highlighting a high tax burden. The taxes paid by the top 100 enterprises in 2023 represented 29% of the total tax revenue. Research on the shadow economy has shown that in the last 15 years, Mongolia's shadow economy has persisted at approximately 21% of GDP, leading to a tax revenue loss equivalent to about 5.2% of GDP. The large shadow economy increases the tax burden on honest taxpaying businesses and individuals, negatively impacting the tax system and economic stability. Therefore, reducing the shadow economy, improving the tax environment, and supporting honest taxpayers is crucial for ensuring economic stability and improving the business environment, according to the MNCCI. Moreover, the currently effective tax package laws aim solely to collect taxes and fees to form the state budget, preventing businesses from expanding their operations, raising employee salaries, investing, and growing after paying taxes. Specifically, with the 10% VAT, 14% social insurance contribution, 10% corporate income tax, along with other types of taxes, fees, penalties, and fines, most companies struggle to survive in the market under the tax burden, leading them to eventually close down.

Back to Table of Contents

Cabinet Members to Donate Their Dividends to Development Fund

Published: 2025-02-26 | Translated from: news.mn

The decisions from the government's meeting were announced today. N. Uchral, head of the Cabinet Secretariat, stated: "There are 481,809 citizens who wish to receive their dividends from the 1072 shares in cash. However, 22,242 people have opted to direct their dividends to their savings accounts in the Accumulation Fund, and 1,267 citizens have expressed a willingness to donate part of their dividends to the Development Fund or to reduce traffic congestion and air pollution. We have submitted the survey results to the Central Securities Depository. After updating the records of those who have sold shares and those without shares, 20,303 out of 22,242 individuals who chose the Accumulation Fund and 1,127 out of 1,267 who opted for donation participated in the final survey. If citizens did not participate in the 1072 shares survey, 100 tugrik will be credited to their account before Lunar New Year. Messages will be sent to citizens willing to contribute to the National Wealth Fund for confirmation. We must change our approach going forward. It is possible to contribute to healthcare, education, and air pollution reduction. The initial survey to instill this mindset was successful. Today, the Prime Minister and Cabinet members chose to donate their dividends to the Development Fund. We are also working on certain amendments to the National Wealth Fund law. Money from the Accumulation Fund will be spent on health, education, and housing. If you want to transfer children's money or other welfare benefits to the Accumulation Fund, it can be saved with interest applied. Before Lunar New Year, a working group is providing citizens with options. Citizens can choose from payment cards, savings books, or virtual account options. The Board of Directors of “Erdenes Tavantolgoi” JSC convenes to distribute the next dividend in April. Justice and Home Affairs Minister O. Altangerel stated: "An analysis and conclusion were presented regarding the decision previously made by the government and parliament on the issue of granting a special permit for the exploitation of the strategically important Tavantolgoi coal deposit to a private company. The necessary draft decision is being developed by the government and will be submitted to parliament. A comprehensive study was conducted since the establishment of the working group. A document signed on March 21, 2008, by the Minister of Industry and Trade, who represented the Government of Mongolia, transferring the mineral license to the 'Energy Resources' company, was deemed to be a contract with illegal flaws infringing the statute of the strategic state-owned proportion. In other words, the agreement with the 'Energy Resources' company, which transferred the mineral license, violated the Constitution and the Mineral Resource Acts. In 2007, the parliament issued a resolution, including the Tavantolgoi deposit, particularly the special permit area held by 'Energy Resources' as a strategic deposit. The then Minister of Industry and Trade was not authorized to conduct any agreements regarding the deposit. In fact, records of the government meetings at that time show that Minister Kh. Naranhu referred this issue for study and presentation to the government. Furthermore, the parliament tasked the government to resolve this issue anew, yet a decision was made bypassing these processes. Thus, the 2007 parliamentary resolution was neither fulfilled nor adhered to until now. Moreover, certain conditions that should be investigated have emerged. Initially, this license might have been acquired through abuse of position and authority, greatly exceeding one's powers and potentially causing significant harm to Mongolia, issues which should be resolved through legal processes. Concerning the Ubakhuudag related to the Tavantolgoi deposit, a proposed parliamentary resolution will be submitted for discussion and resolution."

Back to Table of Contents

Published: 2025-02-26 | Translated from: unuudur.mn

In a meeting of the National Council for Social Insurance, it was decided to deposit the free balance of the Social Insurance Fund in the form of savings. Consequently, it has been agreed to deposit 700 billion MNT, the free balance of the Social Insurance Fund. According to the newly revised General Law on Social Insurance, there are four types of financial instruments specified for investing the free balance of the Social Insurance Fund. The fourth type allows for the money to be deposited in influential commercial banks. In line with this, the meeting set the annual interest rate for depositing the free balance at no less than 11.4% and decided to deposit 700 billion MNT, the free balance of the fund. As a result, the fund's asset is expected to increase by about 80 billion MNT, as observed by those in the sector.

Back to Table of Contents

N.Uchral: The Prime Minister and Cabinet Members Will Donate Their Dividends to the Development Fund

Published: 2025-02-26 | Translated from: itoim.mn

The decisions made at today's Cabinet meeting were announced. Specifically, a survey was conducted on how to receive dividends from the 1072 shares of "Erdenes Tavantolgoi" through the E Mongolia platform from 11 p.m. on February 19 to 12 p.m. on February 25. Head of the Cabinet Secretariat, N. Uchral, stated: "A total of 505,318 citizens participated in the survey. Among them, 481,809 citizens expressed a desire to withdraw cash for their 1072 shares of "Erdenes Tavantolgoi". Meanwhile, 22,242 citizens wanted their dividends to go to their savings accounts, and 1,267 citizens suggested donating a certain portion of their dividends to the Development Fund or for reducing traffic congestion and air pollution. We handed over the survey results to the Central Securities Depository, and updated the number of participants with shares or without shares. From the 22,242 votes for the Savings Fund, 20,303 were verified, and from the 1,267 votes for donations, 1,127 were verified, participating in the final survey." "If citizens did not participate in the 1072 shares survey, 100,000 MNT would be credited to their accounts. A confirmation message will be sent to citizens willing to contribute to the National Wealth Fund to confirm their approval. "We need to change our attitude in the future. There is an opportunity to use dividends for health, education, and air pollution and to contribute to these areas. The first survey was successfully conducted to habituate this practice. Today, the Prime Minister and Cabinet members, as citizens, chose to donate their dividends to the Development Fund. "We are working on making certain amendments to the National Wealth Fund law in the future. Specifically, the Savings Fund's money will be spent on health, education, and housing. Additionally, you will have the option to transfer your children's money and other benefits to the Savings Fund. We are working towards creating a condition where citizens could have savings. If you choose to transfer to the Savings Fund, it will be counted with interest that accumulates." "The working group is operating before Tsagaan Sar (Lunar New Year) to provide choices to citizens. Citizens can choose payment cards, savings books, and virtual account options."

Back to Table of Contents

General Executive Agency of Court Decision Enforcement Signs Cooperation Agreement with Commercial Banks

Published: 2025-02-26 | Translated from: isee.mn

The General Executive Agency of Court Decision Enforcement has signed a cooperation agreement with commercial banks. The event was attended by the Deputy Chief of the General Executive Agency of Court Decision Enforcement and Head of the Execution Office, Chief Executive Officer Colonel B. Nyamgombo, Director of Information Technology at Golomt Bank M. Sainbileg, First Deputy Executive Director in charge of Business at State Bank D. Sugar, Director of Corporate Relations of Khan Bank T. Agvaan, and representatives of the relevant officials. Within the framework of this cooperation, conditions are being created to quickly and efficiently provide public services to individuals and legal entities whose interests have been violated by court decisions, allowing them to view, check, and resolve relevant information. This includes making payments and receiving payments through electronic banking via the Corporate Getaway service of commercial banks, and placing the Court Decision Payment menu in the "Public Services" menu of the mobile application, set to launch from March. This will enable citizens to conduct payment transactions online without having to go to the bank or the court decision enforcement office physically.

Back to Table of Contents

USA and Ukraine Agree on Mineral Agreement Terms

Published: 2025-02-26 | Translated from: gogo.mn

According to official sources, the USA and Ukraine have mutually agreed on the terms of a mineral agreement. US President Donald Trump told reporters that Ukrainian President Volodymyr Zelensky intends to visit Washington on Friday with the desire to make a "very big deal." Furthermore, if a peace agreement is reached to stop the war, although peacekeeping forces in Ukraine will be needed, he stated that he would not accept the deployment of NATO troops in Ukraine. Throughout the three-year war, Washington has been assisting Kiev in exchange for a desire to obtain rare earth elements, as Trump previously indicated. Regarding this matter, Trump said, "Now we want to be safe. We must get back the American taxpayers' money." Zelensky previously did not approve the initial version of the mineral agreement terms proposed by Washington. According to the agreement, the USA would have taken natural resources worth 500 billion US dollars from Ukraine. However, Kiev criticized that they had not received such extensive assistance from the USA. In response, when asked what Ukraine would receive, Trump stated, "Ukraine has already received 350 billion US dollars in assistance and military equipment from the USA." He also mentioned the possibility of the USA supplying weapons to Ukraine until an agreement with Russia is reached. (Source: Reuters)

Back to Table of Contents

Ticket Prices Double in a Day

Published: 2025-02-26 | Translated from: news.mn

The wrestling competition for the lunar new year of the "Year of the Wood Snake" will be held on the day before the new moon, Friday. Many people are interested in watching this wrestling event, which is part of the national cultural heritage. Consequently, the price of wrestling tickets soars every year. We found out the ticket prices for this year's wrestling. Tickets that went on sale at shoppy.mn and ticket.mn sold out immediately upon release. Now the prices have doubled or tripled. For the 2025 New Year's wrestling event, ticket prices are as follows depending on seating: - Rows 4-5: 80,000 MNT - Rows 6-10: 60,000 MNT - Row 11 and beyond: 40,000 MNT The ticket is a package for viewing three days of wrestling on February 26, 27, and 28. Currently, the lowest black market price for these tickets has reached 100,000-120,000 MNT. Wrestling enthusiasts often buy tickets for the traditional lunar new year and summer wrestling events at above market prices, in order to watch them on the green grass arena. Ticket scalpers have picked up on this trend and regularly buy up tickets as soon as they go on sale, selling them at marked up prices. This has become an unofficial tradition.

Back to Table of Contents

Diplomacy

Minister of Foreign Affairs B.Battsetseg to Make Official Visit to Japan

Published: 2025-02-26 | Translated from: montsame.mn

Minister of Foreign Affairs B. Battsetseg will make an official visit to Japan from the 28th of this month to the 5th of next month at the invitation of the Minister of Foreign Affairs of Japan, T. Iwaya. During the visit, Minister of Foreign Affairs B. Battsetseg will hold official talks with the Minister of Foreign Affairs of Japan, T. Iwaya, meet with other Japanese officials, and exchange views on bilateral "people-centered" relations and cooperation in all areas at the level of a "Special Strategic Partnership for Peace and Prosperity," as well as on regional and international issues of mutual interest. She also plans to sign documents related to projects to be implemented with Japan's government aid. This visit is notable as it is the first visit of a Foreign Minister of Mongolia to Japan as an honored guest of Japan's Ministry of Foreign Affairs since 2012, or after 13 years. Mongolia established diplomatic relations with Japan on February 24, 1972, according to the Ministry of Foreign Affairs.

Back to Table of Contents

US and Ukraine Reach Agreement as President Zelensky to Visit the US

Published: 2025-02-26 | Translated from: isee.mn

President Zelensky will visit the US this Friday to sign a mineral agreement as the leaders of the US and Ukraine have reached a deal. Last week, a heated debate erupted between the US and Ukraine. Specifically, the US had requested rights to $500 billion worth of minerals in an agreement between the two countries. However, the Ukrainian side did not accept this request. Consequently, Trump criticized Zelensky, calling him a "dictator" and threatening that he would lose his country if he didn't quickly make a peace deal. Zelensky refuted this, stating that it was not possible for him to sign the agreement. However, yesterday, it became possible to reach a deal after the American side removed some stringent conditions. While the final terms of the agreement are unclear, the draft discussed on Tuesday had included an annulled demand for Ukraine to contribute $500 billion to a fund owned by the US. Instead, the draft agreement stipulates that Ukraine will channel half of its revenue from natural resources, such as important minerals, oil, and natural gas, to that fund. Furthermore, it is said that this fund will reinvest some of its revenue back into Ukraine, with the US pledging to support Ukraine's future economic development. Last fall, Zelensky proposed the idea of an asset-backed agreement to increase US military support. However, during a visit to Ukraine's capital Kyiv on February 12, he rejected the conditions set by Trump. He stated at a press conference, "I will not sign something that Ukrainians have to pay for over ten generations." Yet, the Ukrainian president ultimately admitted that he had few options. Although the agreement does not provide specific security guarantees to Ukraine, the White House believes that aligning American economic interests with Ukraine will prevent future Russian aggression. Consequently, Ukraine's President Zelensky is set to visit the US on the 28th of this month to sign the agreement with US President Trump. Source: New York Times

Back to Table of Contents

European Leaders Visit Kyiv

Published: 2025-02-26 | Translated from: news.mn

Ukrainian President Zelensky welcomed European leaders on Monday for a meeting, marking the third anniversary of the start of Russian aggression. The meeting did not include representatives from the United States, which observers explain is related to a recent dispute between President Trump and Zelensky. French President Emmanuel Macron expressed to the leaders that they are still focused on Russia's aggression against Ukraine and called for caution in any situation. In contrast, U.S. President Donald Trump has been eager to act quickly on the issue, leading European leaders to blame this on potential consequences such as Ukraine losing territory. Donald Trump sees forming a mineral agreement with Ukraine as providing financial support to the country, but he has not made a decision regarding defense assistance to Ukraine, which has led to disagreements between the leaders of the two countries. Zelensky had previously rejected similar offers, explaining that they would not receive defense support and assistance in return. However, the geopolitical situation remains uncertain. While U.S. representatives hold talks with Russia, Ukraine seeks assurances not to lose any part of its territory. Meanwhile, Ukraine continues to discuss the mineral agreement with the U.S. despite tense relations. Nevertheless, the Spanish Prime Minister Pedro Sánchez, Latvian President Edgars Rinkēvičs, and Finnish President Alexander Stubb, who visited Kyiv, expressed on Monday that they share the same views as Emmanuel Macron.

Back to Table of Contents

Japan Announces Aid Delivery of Radar Systems to Mongolia's Armed Forces

Published: 2025-02-26 | Translated from: ikon.mn

Japan's Ministry of Foreign Affairs announced that it would provide Mongolia's armed forces with radar systems to monitor flight traffic as aid. This provision is part of an aid program aimed at developing security cooperation with like-minded countries. The cost of the system, supplied under this program, is 1.3 billion yen ($8.7 million), according to a statement by Japan's Ministry of Foreign Affairs. It was reported that Japan's ambassador to Mongolia, Masaru Igawahara, and Mongolia's Minister of Defense, S. Byambatsogt, signed the documents related to the radar system earlier this month. It will take a few years for the radar system to be fully operational. Mongolia becomes the 16th country in the world to sign such an agreement with Japan. Japan's Ministry of Foreign Affairs stated that the radar system would "strengthen the capacity of Mongolia's armed forces for air traffic control and contribute to ensuring airspace security based on the principle of the rule of law." In response to the growing military capabilities of China in the region, Japan initiated this defense aid program in 2023 to maintain its own and regional security. The country has allocated 8.1 billion yen in its 2025 budget for this program but has not yet identified the recipient countries. This number represents an increase of around 60% from the 5 billion yen allocated in the 2024 fiscal year. Source: Kyodo News Warning: Media outlets (Television, Radio, Social, and Websites) must mention their source (ikon.mn) when using our information in any form, complete or partial.

Back to Table of Contents

Emphasizing Proactive Work for Sustainable Development of Comprehensive Strategic Partnership between Two Countries

Published: 2025-02-26 | Translated from: montsame.mn

Ulaanbaatar. The official visit of the Speaker of the State Great Khural of Mongolia, D. Amarbayasgalan, to the People’s Republic of China is ongoing. On February 25, he held an official meeting with Zhao Leji, Chairman of the Standing Committee of the National People’s Congress of China. At the beginning of the meeting, Zhao Leji expressed his pleasure at D. Amarbayasgalan's visit to China. He appreciated the stable and developing relationship and cooperation across all sectors with Mongolia, connected by mountains and rivers as good neighbors. He noted the increasing frequency of high-level mutual visits, talks, and meetings between the two countries, aligning their strategic development goals, and the expanding mutually beneficial cooperation in trade and economics. He emphasized the proactive work for the sustainable development of the Comprehensive Strategic Partnership between the two countries. The Speaker of the State Great Khural, D. Amarbayasgalan, expressed his pleasure to start his foreign visit to the People's Republic of China as a Speaker and conveyed greetings from the President of Mongolia, Kh. Battulga, to the President of China, Xi Jinping, and Chairman Zhao Leji. He highlighted the important role of inter-parliamentary relations and cooperation in the Comprehensive Strategic Partnership between Mongolia and China. Last year marked the 75th anniversary of diplomatic relations and the 10th anniversary of establishing the Inter-Parliamentary Meeting Mechanism between the two nations, making it a significant year for the 5th meeting of this mechanism, which will be organized in Mongolia. Within the mechanism, both sides exchanged views on sharing experiences of using advanced technology to oversee the implementation of laws passed by the legislative bodies, increasing public involvement in legislative activities, and integrating information technology. Speaker D. Amarbayasgalan emphasized the "Three Perfectives" policy to ensure laws enacted by the parliament are human rights-compliant, fully-fledged, and updated according to modern requirements. He expressed the desire to deepen the alignment of the development strategies of the two countries, especially in infrastructure, port development, renewable energy, agriculture, advanced technologies, and environmental sectors. They discussed major cooperative projects to be included in China’s 15th Five-Year Plan, aimed to be approved next year, within the framework of harmonizing the development policies of Mongolia and China. In the context of port and infrastructure cooperation, they talked about ratifying relevant laws related to the agreement between Mongolia and China on "Transboundary Railway, Coal Trade of Gashuunsukhait-Ganzmod Port, Tavan Tolgoi Coal Mine Capacity Expansion" in the near future and starting construction. Concurrently, they discussed starting connections of ports like Shiveekhuren-Sekhe, Khangi-Mandal, Bichigt-Zuun Khavch, and expanding the Bulgan-Takashiken port, establishing a second trade and economic port in the western region, eliminating the remoteness of the population from the market, and creating a market concentration of over 30 million people in the Russian, Mongolian, and Chinese regional context. About Mongolian regional development policy, they discussed constructing large capacity solar, wind renewable energy plants on surveyed sites to increase renewable energy sources, centralizing investments, establishing reliable energy supply, and exporting electricity to China. Furthermore, both sides exchanged views on new directions of cooperation, expressing Mongolia's interest in integrating into China’s electric vehicle production chain under cooperation in high technology development and artificial intelligence. They also discussed possibilities for Mongolia to increase the export of staple crops and primary-processed animal-origin raw materials, actively integrating livestock and crop farming products into economic circulation to boost herders’ and farmers’ income. Chairman Zhao Leji of the Standing Committee of the National People’s Congress emphasized the intention to deepen mutually beneficial cooperation between the two countries, strengthen the alignment of development strategies, and not only expand cooperation in traditional sectors like mining, energy, and infrastructure but also seek new opportunities in digital economy and green development. He expressed the desire to deepen cooperation between legislative bodies by expanding relations and cooperation of standing committees, parliamentary friendship groups, and local self-governing organizations for experience sharing, as reported by the Press Service of the National Assembly.

Back to Table of Contents

Ambassador U. Nyamkhuu Presented His Credentials to the King of Spain

Published: 2025-02-26 | Translated from: montsame.mn

Ambassador Extraordinary and Plenipotentiary of Mongolia to Spain, U. Nyamkhuu, presented his credentials to His Majesty King Felipe VI of Spain on February 24. Ambassador U. Nyamkhuu conveyed greetings from the President of Mongolia, U. Khurelsukh, and expressed his determination to work actively and with initiative to develop relations and cooperation between Mongolia and Spain in all areas, to achieve high-level visits, and to explore and implement cooperative opportunities. His Majesty King Felipe VI sent his regards to the President of Mongolia and wished the Ambassador great success in his work. His Majesty King Felipe VI praised Mongolia for its stable and democratic governance, which serves as a model internationally, and for its active diplomatic policy on the world stage. His Majesty expressed gratitude for the greetings from the President of Mongolia.

Back to Table of Contents

Infrastructure

This Year, 50 Million Tons of Cargo Will Be Transported by Railway

Published: 2025-02-26 | Translated from: montsame.mn

The Ministry of Road and Transport has included plans to accelerate railway construction and improve transport movement coordination and interoperability in this year's schedule, aiming to transport 50 million tons of cargo and 2.5 million passengers. This includes starting and intensifying the construction of cross-border railways. For instance, efforts will focus on the Gashuunsukhait-Gantsmod, Shiveekhuren-Sekhee, Khangi-Mandal ports, Artsuur-Shiveekhuren Narainsukhait, Sainshand-Baruun-Urt-Khoot, Ulaanbaatar-New Kharkhorum IT Cred, Choibalsan-Bichigt-Zuunhatavch, and Sukhbaatar-Khoshiin Khundii-Zamyn-Uud port operations. The plan also aims to increase the exchange of trains at border ports, establish an integrated management and control system for railway transport, and enhance the accessibility of passenger transport services, according to the Ministry of Road and Transport.

Back to Table of Contents

Discussion on "Legal Regulation of Land and Challenges" Held

Published: 2025-02-26 | Translated from: itoim.mn

The "Legal Regulation of Land and Challenges" discussion, organized by the Government's Inspection Implementation Agency, was held. Representatives from the Ministry of Environment and Climate Change, the Ministry of Urban Development, Construction, and Housing, the General Authority for Land Management and Geodesy, the General Authority for Court Decisions Enforcement, the General Authority for State Registration, Specially Protected Areas of Mongolia, and the Capital City Land Management Authority participated in the discussion. Senior legal consultant S. Uranmandakh from the Government's Inspection Implementation Agency gave a lecture on "Issuing Land Permits, Regulating Relations, and Issues." B. Zagdsambar, head of the Cadastre Division of the Capital City Land Management Authority, presented on "Services Provided to Citizens and Enterprises by the Capital City Land Management Authority." Ts. Ikhbayar, head of the Land Management Division of the General Authority for Land Management and Geodesy, and researcher G. Oyundbold from the Lawyers Association provided analysis on "Court Decisions Related to Administrative Acts Concerning Land Disputes." Ch. Unurbayar, head of the Government's Inspection Implementation Agency, stated: "Today, a discussion is being organized in cooperation with the Mongolian Lawyers' Association and the Mayor's Office of the Capital City to solve the current problems in the legal environment for issuing land permits. Many stakeholders involved in land permit issuance are participating actively, which is of great importance. Furthermore, I am confident that as a result of this discussion, positive outcomes and progress will be achieved towards improving legal regulations on land management, according to the follow-up measures to be implemented." P. Odgerel, President of the Lawyers' Association, mentioned that as part of the cooperation with the Government's Inspection Implementation Agency, the first meeting was successfully organized following the signing of a Memorandum of Understanding. "The purpose of the law is to solve issues before they go to court. Only when there is no other option should cases reach the court. During this discussion, government officials involved in decision-making also participated, discussing interesting matters related to correct legal implementation, and we expect specific proposals to emerge." The discussion addressed how land and land-related disputes often entail complex challenges, emphasizing the need to develop unified recommendations for legal reform to eliminate inconsistencies in the application of laws. Lawyers are expected to come up with unified proposals and initiatives for legal reform. Future discussions will be organized to gather opinions on the law.

Back to Table of Contents

Issues of 17 Delayed and Suspended Construction Projects Resolved

Published: 2025-02-26 | Translated from: unuudur.mn

In October last year, we presented an article titled "Can we hold accountable the contractors of frozen construction projects funded by the state budget?" to our readers, highlighting construction companies that take on projects with taxpayer money under the guise of tenders but fail to complete them. During a discussion organized by the Corruption Prevention and Education Department of the Independent Authority Against Corruption (IAAC), it was revealed that there are numerous construction projects that have been delayed or suspended over the years due to state budget investment. The discussion titled "Improving the planning and oversight of construction projects delayed or suspended under the state budget" addressed 51 construction projects that have been delayed or suspended from 2009 to 2024 over a span of 15 years. Initially, a total of 215 billion MNT was allocated in the budget to fund these stalled projects. Subsequently, relevant organizations disbursed 88.2 billion MNT to contractor entities according to the contracts. Nearly 90% of these 51 constructions were schools, hospitals, dormitories for students, and sports halls. During this discussion, factors contributing to the prolonged delay and suspension of these construction projects were examined, and an assessment was made to determine whether the budget funds were being spent inefficiently. Proposals for measures to be implemented going forward were developed, and recommendations were issued by the IAAC to the relevant organizations. According to the recommendations, notable progress has been made in resolving the issues of delayed and suspended construction projects, as reported by the Construction Development Center to the IAAC. For instance, out of 51 projects and actions, the contracts for 12 constructions have been canceled, two have been handed over for use, and the remaining work quantities for three have been verified and forwarded to the budget overseer. As a result, issues for a total of 17 projects have been resolved.

Back to Table of Contents

A.Amartüvshin: Liquefied Natural Gas Will Be Transported from Russia in Specially Equipped Tanks by Rail

Published: 2025-02-26 | Translated from: ikon.mn

During today's meeting of the City Council, measures to reduce air pollution are being discussed. During this time, Deputy Mayor of Social Sector, Green Development, and Air and Environmental Pollution Issues, A. Amartüvshin, said, "This year, with 170.1 billion Mongolian Tugriks from the city budget, four projects will be implemented to reduce air pollution. Specifically, the areas such as Moscow District, First District, the hill behind the 3rd and 4th districts, Maternity Hospital, Gandan, and the city center around Circle 32 will be included in the green zone, and more than 22,000 households will be connected to gas fuel infrastructure. They will be connected to liquefied natural gas and liquefied petroleum gas. The green zone will cover 20,000 units. By making these households use liquefied gas fuel, air pollution from ger districts is expected to decrease by 15% during the winter of 2025-2026. By the end of 2024, 159,925 households are expected to use briquettes. From March 31, 2025, the production of briquettes by the "Tavantolgoi Fuel" company will stop, and from September 15, it will switch to the energy-enhanced briquettes of "Erdenes Tavantolgoi" company. This is expected to improve air quality by 12%. In 2026-2027, 13,620 households will be moved to apartments, 82,700 households to liquefied gas, and 745 households to renewable energy. In 2028, a semi-coke coal plant will be commissioned, supplying 48,628 households. Ulaanbaatar city plans to phase out the use of solid fuels from 2030. By 2029, it is planned to switch 55% to semi-coke coal, 81.6% to gas fuel, 0.6% to renewable energy, and by 2032, to switch 100% to liquefied gas fuel and renewable energy. This is expected to reduce air pollution from ger districts by 15-55.6%. Regarding where to acquire liquefied gas, it was noted that "LNG or liquefied natural gas will be used in individual houses, while LPG or liquefied petroleum gas will be used for ger houses. A liquefied gas station capable of supplying 50,000 households in ger districts will be built at a cost of 12 million US dollars, and the connection line's design is underway. Due to the increasing demand for liquefied gas, it is planned to initially take it from the liquefied natural gas plant in Kingisepp, Russia, which is 5,500 kilometers away. The Kemerovo plant will be operational in 2026, allowing liquefied natural gas to be transported from a distance of 3,500 kilometers. LNG will be transported by two methods. It will be filled into specially equipped tanks in Russia and transported by train to Tolgoit Station. From Tolgoit Station, it is planned to transport by tanker trucks to Ulaanbaatar city." In 2024, 2,110 people were affected by carbon monoxide poisoning, and 45 people died. Warning Media outlets (Television, Radio, Social Media, and Websites) must mention their source (ikon.mn) when using our information in any form, in whole or in part.

Back to Table of Contents

804,656 Vehicles in Ulaanbaatar Undergo Inspection, 80% of Them Over 10 Years Old

Published: 2025-02-26 | Translated from: ikon.mn

A. Amartuvshin, Deputy responsible for social sector, green development, and air and environmental pollution issues of the Ulaanbaatar State Administration, presented measures to reduce air pollution caused by vehicles. He noted that 804,656 vehicles in Ulaanbaatar underwent technical inspection and diagnostics in 2024. Of these vehicles, 72.8% are passenger cars, 11.6% are trucks, 1.6% are buses, 1% are special purpose vehicles, and 13% are other types of vehicles. Classified by usage period, 6% of the vehicles are 0-3 years old, 14% are 4-9 years old, and 80% are over 10 years old. Out of the 804,656 vehicles, 33% have gasoline engines, 21.6% have diesel engines, 44% are hybrid, 1.2% use gas, and 0.2% are electric vehicles. To reduce air pollution caused by vehicles, mega projects will be implemented by developing multi-modal public transportation. Projects like the Tuul expressway, new ring road, metro, cable car, and BRT have been planned to reduce vehicle-related air pollution to 8.6% by 2040. In 2024, air pollution from motor vehicles was 28.9%. Warning: Media organizations (TV, Radio, Social Media, and Websites) must duly mention the source (ikon.mn) when using our information in any form either in full or in part.

Back to Table of Contents

Signed Concessional Loan Agreement for Funding "Atar-4" Campaign

Published: 2025-02-26 | Translated from: montsame.mn

Ulaanbaatar. The Ministry of Food, Agriculture and Light Industry, the Bank of Mongolia, and ten commercial banks have signed a concessional loan agreement to finance the "Atar-4" sustainable development campaign in agriculture. On this occasion, Minister of Food, Agriculture and Light Industry J. Enkhbayar stated, "A month ago, we signed a financial agreement with the Bank of Mongolia and commercial banks for a major program to enhance the processing level of the light industries of wool, cashmere, and hides. Today, we are signing our 'Atar-4' campaign document, aimed at perfectly integrating and intensifying agriculture with animal husbandry, diversifying development, and raising our light and food industries to a new level." The campaign is scheduled to be implemented until 2028, adding 200,000 hectares of new agricultural land. Expanding the agricultural field will increase the volume of food, agriculture, and light manufacturing. To achieve this, cultivated land will be protected from soil erosion and degradation. By 2030, Mongolia's population is expected to reach four million, along with an increase to one million tourists visiting Mongolia. To meet the growing demand for food, it is imperative to increase cultivation and production. On the other hand, we need to elevate our soil protection policy, collaborate with the "One Billion Trees" initiative proposed by the President, and protect soil fertility by establishing forest strips. We will gradually introduce proper crop rotation and no-till technology. Comprehensive plant protection measures will be established. The development of seed breeding farms will be carried out in a complex manner. Advanced irrigation techniques and technologies will be introduced. As a result, the yield per unit area will increase, creating the possibility to fully meet the domestic demand for grain, potatoes, and staple vegetables, and 70% of fodder crops. Simultaneously, the herd will be enriched with 200,000 productive cattle, supporting intensive livestock farming and creating clusters for meat and dairy production. Another major task of this campaign is to increase the base fodder crops for intensive livestock farming. Essentially, we will revolutionize fodder cultivation and production. A unified network will be established to connect herders and farmers directly with producers, launching a comprehensive movement for all participants in the food, agriculture, and light industry sectors to develop cooperatively. In the end, Mongolia aims to provide healthy and safe food to its population and implement 21st-century agriculture geared towards export. Currently, Mongolia's food, agriculture, and light industry sectors export one billion USD annually. With the implementation of interconnected programs such as "White Gold" and "Atar-4" campaigns, we will be able to export two billion. Under this campaign, commercial banks will provide loans amounting to 800 billion MNT for agriculture, animal husbandry, and food industry sectors. Out of this, up to 350 billion MNT will be for working capital, while the remainder will be for investment purposes. In 2025, the government will finance 52.8 billion MNT for interest subsidies from the state budget, covering 10% of the interest for working capital loans. The loan agreement specifies that the loan term will be up to two years for working capital and up to four years for investment loans. The Governor of the Bank of Mongolia, B. Lkhagvasuren, remarked, "In recent years, the world has faced challenging conditions such as pandemics and conflicts. This highlighted the importance of protecting the nation's food security. Past events showed how crucial it is for Mongolia to become an economy capable of processing its agriculture-related products and raw materials to the final stage. We are pleased to be collaborating on the central bank's program to ensure food security and sustainable agriculture." Investment loans will be provided to support, expand capacities, and improve utilization for citizens and businesses operating in the agricultural production sector in 15 directions, including: 1. Establishment of a fully mechanized threshing floor 2. Construction of mechanized warehouses and cellars for potatoes and vegetables 3. Establishment of new greenhouses and plant factories (hydroponics, aeroponics) 4. Increasing capacity and purchasing new machinery and equipment for agriculture 5. Establishment and expansion of mushroom factories 6. Expansion and new establishment of meat cattle farms, purchase of equipment 7. Expansion and new establishment of young livestock fattening operations, purchase of equipment 8. Stabilization and expansion of poultry farming operations, purchase of equipment 9. Increasing feed production through new establishment, expansion, and purchase of equipment 10. Stabilization and expansion of beekeeping operations, purchase of equipment 11. Establishment of new dairy cattle farms (clusters), expansion, and equipment purchase 12. Modernization of food processing industrial equipment 13. Establishment and expansion of grain processing factories (for soybeans, alfalfa, peas, beans, lentils, flax, rye, barley), purchase of new equipment 14. Establishment and expansion of food trade and meat warehouses, purchase of new tools and equipment 15. Establishment of packaging (agriculture-related products) factories.

Back to Table of Contents

Zavkhan: Construction of 9 Buildings Underway in Education Sector

Published: 2025-02-26 | Translated from: montsame.mn

This year, in the educational sector of Zavkhan province, 19 projects with a total funding of 25 billion tugriks are being implemented. The education sector has an investment budget exceeding 86 billion tugriks. With state budget funding, they are constructing seven general education schools, six kindergartens, three dormitories, two sports halls, and one vocational training center building. The sanitation facilities project includes 26 kindergartens in 24 soums, 45 general education schools, and 15 dormitories, covering a total of 56 objects. As of today, 47 objects have been completed and put into operation, and construction and assembly work is ongoing for 9 objects, according to the Zavkhan province Department of Education and Science.

Back to Table of Contents

REPORT: Increased Participation in Traffic Without License Plates in Ulaanbaatar Due to Suspension of Plate Issuance

Published: 2025-02-26 | Translated from: isee.mn

Vehicles are prohibited from participating in road traffic without license plates. However, the number of people driving without license plates has been increasing recently. Therefore, to alert the public, we collaborated with the Traffic Police Department to investigate the reasons and conditions for drivers participating in road traffic without license plates and how frequently such violations are being recorded. - IF YOU PARTICIPATE IN ROAD TRAFFIC WITHOUT A LICENSE PLATE, YOU MAY BE FINED 25 UNITS. IF YOU USE A FAKE LICENSE PLATE, YOU MAY HAVE YOUR DRIVING PRIVILEGES REVOKED - While we stood at the intersection connecting Denjiin 1000 and Galdan Boshgoht Street for about 20 minutes, the traffic police stopped five vehicles without license plates, and measures were taken to fine them according to regulations and rectify the violations on the spot. In cases where vehicles are driving without license plates, according to Article 14.7.12 of the Law on Violations, the individual is fined an amount equal to 25,000 units or 25,000 MNT. If the license plate is hidden or if a different country's license plate is used, Article 14.7.13 of the same law states that the driving privileges may be revoked for a period equivalent to three months, and a fine equal to 50 units may be imposed. Additionally, 309 violations of participation in road traffic without license plates have been recorded in Sukhbaatar district since the beginning of the year. Among these, in two cases where false license plates were used, measures were taken to revoke driving privileges. Participation in traffic without a license plate presents the possibility of stolen vehicles traveling and is often linked with efforts to conceal and disguise crimes. It is also associated with irresponsible behavior by citizens aimed at avoiding fines or escaping camera surveillance, according to Lieutenant B. Gantulga, a traffic police officer in charge of preventive work in SBD. - CITIZENS ARE PARTICIPATING IN TRAFFIC WITHOUT LICENSE PLATES DUE TO THE DECISION BY CITY GOVERNOR H. NYAMBAATAR NOT TO ISSUE LICENSE PLATES - When we asked citizens why they are participating in road traffic without license plates, some said that they have misplaced them and haven't had the opportunity to print new ones, while others mentioned that due to the restriction on issuing vehicle license plates, they haven't been able to obtain new ones. Specifically, a citizen reported, "Due to the restriction on issuing vehicle license plates, everything has become expensive. Before, the frame cost 25,000 MNT, but now it costs 100,000 MNT. A city-series license plate cannot be obtained even for 1 million MNT. One needs at least 1.5 million MNT to be able to get such a number. Therefore, there is some difficulty." City governor H. Nyambaatar had issued a regulation limiting the issuance of license plates for vehicles in Ulaanbaatar. Specifically, it was decided not to issue Ulaanbaatar series license plates for passenger vehicles imported starting November 8, 2024. Consequently, license plates are being resold, and their price has increased to at least 1.5 million MNT. Due to this situation, some citizens are participating in road traffic without license plates, posing risks to themselves and others. Additionally, some drivers stated, "I haven't been able to obtain a license plate for my vehicle due to the customs documentation. The line is really long."

Back to Table of Contents

Society

Decision to Observe Public Holidays Next Week

Published: 2025-02-26 | Translated from: isee.mn

In today's regular meeting of the Cabinet, the draft government resolution "On the Transfer of Public Holidays" was discussed, and the decision was made for a public holiday on next week's Monday, Tuesday, and Wednesday, and the resolution was approved. Furthermore, all state-level organizations are instructed to make up for these workdays on some other day within the year 2025. Specifically, since 257 citizens submitted their opinions and complaints to the "11 11" center, this issue was discussed. As for this year, the Tsagaan Sar (Lunar New Year) holiday falls on the 1st of March, which is a Saturday and Sunday. As the 1st lunar day overlaps, the 2nd and 3rd lunar days will occur on the Weekend of March 1st and 2nd, Saturday and Sunday, and it was planned to resume work as usual on Monday. However, this was changed accordingly.

Back to Table of Contents

Investigating Fraud Using State Organization Names to Extract Money from Businesses

Published: 2025-02-26 | Translated from: gogo.mn

In relation to the upcoming Lunar New Year, there have been cases of phone calls from the number 98980205 to citizens and businesses pretending to be from the Ulaanbaatar City Department of Food and Agriculture, attempting to extract money through fraud. Specifically, people have been reporting that they received calls saying, “We have received complaints and information regarding your organization. We will conduct an inspection with a media organization. However, if you transfer money, we can skip the inspection.” This has resulted in the fraudulent extraction of money from citizens and businesses. The police are currently investigating these incidents. The Ulaanbaatar City Department of Food and Agriculture conducts scheduled oversight and inspections for occasions such as the Lunar New Year, Mother's Day, Naadam festival, back-to-school preparations, and the New Year. During preventive inspections, advance notice is not given. State (senior) inspectors visit the premises in person, showing inspection directives and their work badges, before conducting inspections. They do not impose fines or take money via cash or personal bank transfers, as it warns citizens and business entities. Therefore, if you receive calls from the above number or similar types of scam calls, please contact the police at number 102. Ulaanbaatar City Administration, Communications and Information Technology Authority

Back to Table of Contents

Environment

Asian Development Bank to Expand Cooperation on Projects to Reduce Air Pollution and Traffic Congestion

Published: 2025-02-26 | Translated from: ikon.mn

The Asian Development Bank will expand its cooperation on projects aimed at reducing air pollution and traffic congestion. Officials responsible for accelerating the financial, economic, and developmental construction projects of the city have introduced representatives from the Asian Development Bank to projects such as the engineering infrastructure of the new Zuunmod city or Khunnu city, the infrastructure of the Emeelt eco-industrial park, the external engineering network work of the affordable housing projects in the 24th khoroo of Songinokhairkhan district, and the "Wall Material Housing" project, expressing their interest in cooperation. Representatives from the Asian Development Bank have expressed their willingness to expand and strengthen cooperation with Ulaanbaatar city. The city is implementing the establishment of sub-centers with loans from the Asian Development Bank and the European Investment Bank to increase infrastructure accessibility for the development of ger areas. There are plans to establish sub-centers with economic opportunities, housing, and urban infrastructure services in ger areas with poor infrastructure and engineering services, specifically in the Selbe, Bayankhoshuu, Sharkhad, and Tolgoit sub-centers. Warning: Media agencies (Television, Radio, Social, and Web pages) must cite their source (ikon.mn) when using our information in any form, either fully or partially.

Back to Table of Contents

Investigation Completed on “Urgaa Fluorspar” LLC for Storing Large Quantities of Sulfuric Acid and Ammonia

Published: 2025-02-26 | Translated from: unuudur.mn

Law enforcement officials have completed their investigation into "Urgaa Fluorspar" LLC, a company involved in fluorite processing operations in Bor-Undur soum, Khentii province. The company has Chinese investment. The case was handled by the Environmental Police Department. Following the investigation, the NPA submitted charges against the company and its executive director, Ch. Altan-Erdene, under Article 24.3-3 of the Criminal Code. The charges accuse them of illegally using dangerous and hazardous chemicals during operations, storing them, acquiring them, and using them inappropriately on behalf of the legal entity and in the interest of the legal entity. The case has been transferred to the Inter-soum Court in the region. Previously known as "Zunpirue," with Wu Ji-bin registered as the ultimate owner, the company in 2024 stored large quantities of sulfuric acid, sodium sulfide, and ammonia—chemicals classified as hazardous by the joint order A/356/396 issued on October 8, 2015, by the Ministry of Environment, Green Development and Tourism and the Ministry of Health and Sports. As these substances fall under hazardous chemicals according to that classification and were stored without permission, a criminal investigation was initiated by the police.

Back to Table of Contents

Innovation

Best Practices for Implementing Risk Management Discussed by Government and Private Sector

Published: 2025-02-26 | Translated from: itoim.mn

A discussion panel titled "Implementing Risk Management in Government Agencies" was organized by the Government's Oversight Implementation Agency. Opening the discussion, Member of Parliament, Minister of Mongolia, and Chair of the National Committee for Oversight and Evaluation, Mr. E. Odbayar, presented the joint government's policy and action program established as a result of the 2024 parliamentary elections. He emphasized that the Government of Mongolia is implementing 620 objectives within its operational program covering four main policies: regional development policy, human development policy, economic policy, and governance policy that upholds human rights. Representatives of the public sector, private sector, and international organizations with experience in implementing effective risk management systems presented and discussed seven topics in the morning session, including "The Importance of Introducing Risk Management in Government Agencies" and "Risk Management System in Government Agencies". In the afternoon, a panel discussion titled "Ways to Implement Risk Management in Government Agencies" was moderated by Dr. B. Munkhzaya, Vice President for Education and Research at the National University. Panelists included Deputy Director for Risk Management at Mongolian Mortgage Corporation LLC, D. Otgonbileg; Head of Internal Audit and Risk Management at the National Statistical Office, N. Munkhbayar; Acting Head of Monitoring, Evaluation, and Internal Audit at the Ministry of Justice and Home Affairs, T. Tumur-Ochir; First Deputy Chief and Staff Chief, Colonel Dr. (Ph.D) Ts. Ganzorig of the National Emergency Management Agency; Head of the Risk Management Division at the General Customs Office and Technical Advisor to the World Customs Organization on Risk Management Operations, Dr. Associate Professor (Ph.D) D. Tsendsuren; and Senior Specialist for Research and Development at the United Nations Development Programme, E. Telmen. They shared good practices from the government and private sector, examples of domestic and international best practices, and openly exchanged ideas about how international standards and systems for risk management can be implemented and developed in our country, addressing challenges, difficulties, and future trends.

Back to Table of Contents

Speaker of the Mongolian Parliament D. Amarbayasgalan Visits Xiaomi Electric Car Factory in China

Published: 2025-02-26 | Translated from: gogo.mn

As part of an official visit to China, the Speaker of the Mongolian Parliament, D. Amarbayasgalan, visited the Xiaomi electric car factory in Beijing, the Chinese Human Resources Science Academy, and the Jinhuinong agricultural cooperative. Beijing, the capital of China, aims to become a global technology hub, actively developing startups and innovation centers. Among these is the Xiaomi electric car factory, which the Speaker visited. Since March 2021, the company has been operating in the production sector of smart electric vehicles, manufacturing 40 cars per hour. It utilizes artificial intelligence and robots in its production processes and is committed to environmentally friendly vehicles. Highlighting the importance of advanced technological development and artificial intelligence in new trade and economic cooperation directions with China, Speaker D. Amarbayasgalan expressed Mongolia's desire to join the electric car manufacturing chain between Mongolia and China during his meeting with Zhao Leji, Chairman of the Standing Committee of the National People's Congress. The visiting delegation, led by the Speaker, also visited the Chinese Human Resources Science Academy. They discussed state employment policies and effective methods implemented by China. During the meeting, Speaker D. Amarbayasgalan mentioned that Mongolia is working towards establishing a professional, stable, and proficient public service, elevating management to international standards. He expressed interest in learning from China's experience in utilizing digital technology and artificial intelligence in human resource policies. China focuses on training skilled and talented citizens for state employment, incorporating artificial intelligence and digital development. The academy briefed the delegation on policies that involve short courses for preparing specialized personnel required for major projects and programs implemented with foreign countries. The academy is directly affiliated with the Ministry of Human Resources and Social Security of China, conducting necessary research for the government and providing suggestions, conclusions, and advice on state policy decisions. The visiting party continued to get acquainted with the operations of the Jinhuinong agricultural cooperative. This cooperative unites 207 households and engages in the production of vegetables and fruits, holding a registered fund of 2.3 million yuan and possessing over 380 greenhouses, totaling assets exceeding 10 million yuan. The cooperative supports 500 non-member households and trains over 2,000 farmers annually. Producing products worth 15 million yuan annually, the cooperative distributes 60% of its profits from sales and 40% according to the contribution ratio. Each member receives an average surplus of 8,000 yuan per year. Jinhuinong agricultural cooperative regularly introduces new technologies and innovations, operating in a unified manner with all members involved. Looking forward, the cooperative plans to increase its membership, improve management, and introduce new technologies in alignment with national policies to ensure balanced urban and rural development. The press office of the Mongolian Parliament reported that the official visit of Speaker D. Amarbayasgalan to China continues. Source: State Great Khural of Mongolia

Back to Table of Contents

Innovation That Changed Uranium Mining Game: ISR Method

Published: 2025-02-26 | Translated from: ikon.mn

An open discussion titled “Around the Technology of Uranium Heap Leaching” was organized by three relevant minor conferences of the Academy of Sciences, with over 2000 listeners participating online. Below is the information that was discussed. It is said that people fear most what they do not know. However, with accurate information and knowledge, it is possible to understand development. One of the topics recently causing fear among the public is undoubtedly uranium. This is because Mongolians have very little knowledge about it, largely imagining its dangers through the "Chernobyl" series and the frequent sensationalism by various movements that occasionally surface. Therefore, we wish to provide citizens with knowledge about uranium, especially the technology intended for extracting uranium in Mongolia. Uranium is a radioactive element that emits heat and serves as the main raw material for modern green energy production. Discovered by German scientist Martin Klaproth in 1789 and named after the planet Uranus, it is the heaviest element that humankind has used for more than 60 years in energy production. The most expensive phase from uranium mining to energy production is the conversion and processing stages. Today, the price of one kilogram of yellowcake fluctuates at $170 on the global market, and in recent years, its value has been continuously rising. Although all processes of generating energy from uranium must be explained through the science of physics, a simple comparison can help us understand that the energy from 6 grams of nuclear fuel pellets of pencil eraser size is equal to burning 133 liters of oil, 100 cubic meters of natural gas, or 500 kilograms of coal. It should be noted how highly efficient this energy resource is. It should be remembered that this resource is not present in every country and is a naturally endowed feature. Fewer than 20 countries in the world have uranium reserves, with Mongolia ranking 12th in terms of reserve size. Moreover, Mongolia is about to start mining at the Zuuvch-Ovoo deposit, the largest in the world discovered in the last 10 years, through an investment agreement with France's “Orano Mining” company. The proven reserves of this deposit are 93.2 thousand tons. Dr. G. Jamsrandorj, an expert from the state-owned "Mon-Atom" company, and a consultant geologist with a doctorate in geological and mineralogical sciences, indicated that there are 13 prepared uranium mines for exploration and development in Mongolia. This implies that there is great potential for increasing Mongolia's uranium resources. For the fundamentally significant project financed by the third neighbor, France, where in-situ recovery (ISR) technology will be used to extract uranium approximately 160 meters underground to produce the natural uranium product known as yellowcake and export it. ISR, or in-situ recovery, is a method where a diluted sulfuric acid solution is injected through wells into a uranium ore body, dissolving the uranium so it can be pumped back out. This technology discovered by scientists and engineers in the 1960s significantly changed the mining industry as a major innovation. This technology allows for the extraction of uranium, a radioactive element, without disturbing the surface layers through a closed cycle and remains the least damaging to the environment today. In particular, the ISR method for uranium extraction has led to: - Avoiding large excavations and surface disturbances, thereby not creating waste or spoil heaps. - Reducing the costs compared to traditional mining since less infrastructure, heavy equipment, and labor are needed. - A closed-loop mining process where workers do not directly interact with radioactive materials as in open-pit mines, no dust is generated, and water use is minimal. - More efficient and faster production compared to traditional mining, enhancing productivity. - The ability to dissolve 70-90% of the uranium in sandstone formations. - The restoration of the natural state of the land after mining is completed. Therefore, this method is employed in about 70% of the world's uranium production, with countries like the USA, Australia, China, Uzbekistan, and Canada, as well as 13 uranium mines in Kazakhstan, using ISR technology. Hence, utilizing this technology is beneficial for the country, the project-implementing company, and the environment. However, not every country or mine site can employ this technology. The use of ISR depends on many factors, as explained by Dr. L. Jargalsaikhan, director of the Institute of Chemistry and Chemical Technology of the Academy of Sciences. Mining involves extracting ore or the rock that contains the resource using methods such as: - Open-pit mining, - Underground mining, - In-situ recovery. Which method to use depends on the location of the ore body. If the configuration is isolated by clay that doesn’t allow water to penetrate, from above, below, and from all around, the ISR method can be used. Clay being impermeable means uranium dissolution does not spread in such cases. After that, the choice of solvent for uranium dissolution is considered. ISR uses two methods: acidic and alkaline dissolution, which depend on the ore and its encasing rock. Since the carbonate mineral content in the Zuuvch-Ovoo deposit is less than 2%, sulfuric acid leaching is feasible for uranium extraction. The main requirement is to minimize environmental impact. For the Zuuvch-Ovoo deposit, uranium will be dissolved using a leaching solution. The acid concentration will be 0.5% of the total circulating fluid. This solution will be pumped through sealed wells as deep as 160 meters and recirculated to extract uranium. “The advantage of using sulfuric acid is that up to 80% of uranium can be extracted. Leaching is fast and cheap, requiring 5–100 kg of sulfuric acid to produce 1 kg of uranium oxide. This large discrepancy is attributed to the ore body. For example, low permeability of the ore body or high uranium content increases consumption for efficient leaching,” said Dr. L. Jargalsaikhan. In other words, there are advantages to using the ISR method by acid leaching for uranium projects in Mongolia. In particular, "Badrakh Energy" has announced plans to produce the sulfuric acid needed for its operations. It is true that Mongolians are most afraid of sulfuric acid. The notion that "chemical toxins being injected underground will contaminate groundwater, poisoning all people and animals and destroying the environment" has spread considerably on social media. However, the sulfur in the solution to be injected about 160 meters underground is 25–100 times less than the sulfur found in discarded batteries frequently seen around rural homes. In a way, the very environment around us is in harsher conditions than the Zuuvch-Ovoo mine. Moreover, hand-dug wells that we often talk about reach up to 20 meters below the surface, while uranium-bearing aquifer layers are deeper than 160 meters. As mentioned, the uranium ore body is encircled by impermeable clay, so there is no basis for groundwater contamination. We remind you again that many countries use the ISR technology developed with scientific research and evaluations by professional engineers and scientists, which has been widely implemented with few adverse effects, especially with no groundwater contamination cases reported in the world over the past 50 years. Kazakhstan operates 13 ISR uranium mines, with people and livestock living safely above them. But it is natural for Mongolians to be afraid because they lack knowledge.

Back to Table of Contents

"Nexus" Team Victorious in "CFA Research Challenge" to Compete Against Asia-Pacific's Best

Published: 2025-02-26 | Translated from: ikon.mn

The "Nexus" team, which won the "CFA Research Challenge" academic competition, will compete with the best of the Asia-Pacific regional division. Each year, the Mongolian Society of Chartered Financial Analysts holds the international "CFA Research Challenge" competition. This year's top teams were selected and awarded on February 22, 2025. Since 2020, the Mongolian Stock Exchange has participated as a co-organizer and sponsor of the competition. This year, three teams from the National University of Mongolia (NUM), three from the University of Finance and Economics (UFE), and one from Mandakh University, a total of seven teams, conducted research and analysis on "Khan Bank" LLC, competing with their financial knowledge and skills to achieve the following ranks: First Place: "Nexus" team from the University of Finance and Economics Second Place: "Phoenix" team from the National University of Mongolia Third Place: "Invictus" team from the University of Finance and Economics The winning "Nexus" team will soon participate in the Asia-Pacific regional round, competing with the best teams in the region. By advancing through each stage, they will have the opportunity to participate in the CFA Institute Global Final in Chicago, USA, in May 2025. Source: Mongolian Stock Exchange Warning: Media outlets (Television, Radio, Social media, and Websites) must cite their source (ikon.mn) when using our information entirely or partially in any form.

Back to Table of Contents

State Institutions Need to Improve Risk Management

Published: 2025-02-26 | Translated from: unuudur.mn

The government's Office for Monitoring has organized a discussion titled "Implementing Risk Management in State Institutions." Member of Parliament, Minister of Mongolia, and Chairman of the National Evaluation Committee, E. Odbayar, opened the discussion by stating, "The government has included in its action program the implementation of policies in regional, human development, economic, and human rights governance. Within these policy frameworks, 620 objectives in 16 directions are being implemented. For instance, in the energy sector, initiatives for reform have commenced, aiming to increase domestic production, and goals have been set to improve industrialization and human development indicators by 10 places each, as well as governance indicators by 10 places. Additionally, government policies are directed towards major goals such as halving poverty and increasing GDP per capita to 10,000 USD." To implement these government policies and objectives, state administrative bodies, budget-funded institutions, state and locally owned legal entities are tasked with ensuring legality, enhancing accountability, increasing productivity, and monitoring. The discussion emphasized the importance of anticipating and evaluating risks in state institutions to plan and implement appropriate responses and ensure operational stability. Thus, it is critical to implement risk management when making significant decisions, identify potential obstacles, and plan strategies to prevent them, as stated by the participants. For this reason, the Office for Monitoring sees the need to improve the policy and legal environment for implementing risk management in state institutions, establish governance and culture, and strengthen the system.

Back to Table of Contents

Health

Orkhon: 1866 Residents in Dust Affected Areas Undergo Health Check

Published: 2025-02-26 | Translated from: montsame.mn

The Orkhon Aimag Citizens' Representative Council discussed the report of activities carried out in 2024 as part of the sub-program to reduce the spread and negative impact of white dust and the program to improve waste management. According to Resolution No. 18/04, 18 activities were approved to reduce the spread and negative impact of white dust, conduct environmental impact assessments, reduce dust emissions from the tailings, and organize health examinations, screenings, and preventive work in the white dust impact area, providing information and updates to citizens. The "Erdenet Factory" State Owned Enterprise (SOE) is implementing technology and measures such as watering dry areas with waste slurry and water, using special equipment to spray suppressant reagents to reduce dust emissions, and installing a water supply system to mitigate dust emissions. Continuous monitoring of the number, direction, size, and duration of the white dust emissions is underway. In 2024, there were 30 instances of white dust emissions recorded under the supervision of two stationary monitors at the Tailings Facility and the Environmental Laboratory of Erdenet Factory. Air, water, and soil quality were monitored, and samples were collected in the industrial zone, tailings pond, and affected areas. The report indicates that the monitored levels did not exceed the standards for air, water, and soil pollution in Mongolia. Last year, a working group was established by the governor of the aimag to organize health examinations for citizens living in the white dust zone. Between February 1 and May 3, 2004, a total of 2005 residents, including 1866 from the dust impact zone and 139 from non-impact areas, underwent health screening. Council members emphasized the need to regularly include 2500 residents in health screenings annually. The program also included the establishment of a new tailings facility by "Erdenet Factory" SOE, which is planned to be constructed to international major dam standards, in cooperation with Australia's "ATC Williams" Pty Ltd under contract. The new tailings facility will occupy 7,048 hectares in the Orkhon soum of Bulgan aimag and the Jargalant soum of Orkhon aimag, located more than 20 kilometers from residential zones. By using new thickened tailings technology, it is expected to reduce white dust emissions by 60-70 percent. Additionally, within the program, "Erdenet Factory" has purchased 437.3 million tögrögs worth of vegetables grown by Jargalant soum residents in support of local agriculture. Measures are being taken to improve air quality in the interiors of educational institutions operating in the impact zone by installing filters on windows. An afforestation project is underway in the Tailings Facility section of the Beneficiation Plant. These interventions have been reported to the residents' meetings and civil society organizations in the region, as presented at the council meeting.

Back to Table of Contents

Arts

“Chinggis Khaan” International Exhibition to Showcase 698 Artifacts

Published: 2025-02-26 | Translated from: unuudur.mn

An exhibition titled “Chinggis Khaan” is set to be organized in the city of Prague, Czech Republic, as previously announced by the Ministry of Culture, Sports and Tourism, and the Ministry of Youth. This exhibition is scheduled to take place from the 10th of the coming month until June 22 in celebration of the 75th anniversary of diplomatic relations between Mongolia and the Czech Republic. The exhibition will be held in the "Historical Building" of the Czech National Museum, and preparations for the event are already complete. The exhibition will feature a total of 698 artifacts, relics, and valuable objects selected and assembled by the “Chinggis Khaan” National Museum and the Institute of History and Archaeology of the Mongolian Academy of Sciences, represented by 170 displays. As for the transportation of the exhibits, the “Chinggis Khaan” National Museum informed that specially ordered sterile containers, free of any acids or alkalis, have been custom-made in South Korea to allow items to pass through international borders seamlessly. These exhibits are covered by international insurance during their transport, monitored by customs, police, and intelligence agencies in accordance with the procedures for transporting cultural heritage. Only then will they be returned safely to the museum.

Back to Table of Contents

Today's Stories

Politics

Economy

Diplomacy

Infrastructure

Society

Environment

Innovation

Health

Arts

Politics

The Government Illegally Granted 'Ukhaa Khudag' Mine to MCS Group

Today, the Government Will Discuss the Following Issues

O. Altangerel: Granting "Ukhaa Khudag" to Energy Resource Violates the Constitution

Introducing: Operating Hours of Border Checkpoints

D. Trump to Launch 'Golden Card' Visa Program for Wealthy Individuals

The New Party Joins the Democratic Party

Economy

What is stated in the resolution regarding the inclusion of a deposit as a strategically significant mineral?

“Erdenes Tavan Tolgoi” JSC Starts Transferring Dividends to Citizens' Accounts

Dividends from "Erdenes Tavantolgoi" are being transferred to citizens' accounts

Focus on Increasing Mongolia-Britain Trade Volume

Entrepreneurs Criticize Unequal Tax Regulations

China's Retaliatory Tariffs on the US May Bring Positive Changes to Our Coal Market

Coal Export Price Has Dropped by About 20% from the 2025 Estimate

ETT’s Profits Increase Will Lead to Increased Dividends

Ministers to Donate 'Erdenes Tavan Tolgoi' 2024 Dividends to Development Fund

Non-Bank Financial Institutions Fined ₮434 Million Due to Traffic Violations by Drivers

Banks: There is a surge in demand related to dividend distribution

N.Uchral: The Prime Minister and Members of the Government Donated Their Tavantolgoi Dividends to the Development Fund

Proposal to Reduce VAT from 10% to 5% Submitted to the Ministry of Finance

Cabinet Members to Donate Their Dividends to Development Fund

700 Billion MNT of the Social Insurance Fund to be Deposited in Banks

N.Uchral: The Prime Minister and Cabinet Members Will Donate Their Dividends to the Development Fund

General Executive Agency of Court Decision Enforcement Signs Cooperation Agreement with Commercial Banks

USA and Ukraine Agree on Mineral Agreement Terms

Ticket Prices Double in a Day

Diplomacy

Minister of Foreign Affairs B.Battsetseg to Make Official Visit to Japan

US and Ukraine Reach Agreement as President Zelensky to Visit the US

European Leaders Visit Kyiv

Japan Announces Aid Delivery of Radar Systems to Mongolia's Armed Forces

Emphasizing Proactive Work for Sustainable Development of Comprehensive Strategic Partnership between Two Countries

Ambassador U. Nyamkhuu Presented His Credentials to the King of Spain

Infrastructure

This Year, 50 Million Tons of Cargo Will Be Transported by Railway

Discussion on "Legal Regulation of Land and Challenges" Held

Issues of 17 Delayed and Suspended Construction Projects Resolved

A.Amartüvshin: Liquefied Natural Gas Will Be Transported from Russia in Specially Equipped Tanks by Rail

804,656 Vehicles in Ulaanbaatar Undergo Inspection, 80% of Them Over 10 Years Old

Signed Concessional Loan Agreement for Funding "Atar-4" Campaign

Zavkhan: Construction of 9 Buildings Underway in Education Sector

REPORT: Increased Participation in Traffic Without License Plates in Ulaanbaatar Due to Suspension of Plate Issuance

Society

Decision to Observe Public Holidays Next Week

Investigating Fraud Using State Organization Names to Extract Money from Businesses

Environment

Asian Development Bank to Expand Cooperation on Projects to Reduce Air Pollution and Traffic Congestion

Investigation Completed on “Urgaa Fluorspar” LLC for Storing Large Quantities of Sulfuric Acid and Ammonia

Innovation

Best Practices for Implementing Risk Management Discussed by Government and Private Sector

Speaker of the Mongolian Parliament D. Amarbayasgalan Visits Xiaomi Electric Car Factory in China

Innovation That Changed Uranium Mining Game: ISR Method

"Nexus" Team Victorious in "CFA Research Challenge" to Compete Against Asia-Pacific's Best

State Institutions Need to Improve Risk Management

Health

Orkhon: 1866 Residents in Dust Affected Areas Undergo Health Check

Arts

“Chinggis Khaan” International Exhibition to Showcase 698 Artifacts

You might also like...

Mongolia News Summary for March 10, 2025

Mongolia News Summary for March 09, 2025

Mongolia News Summary for March 08, 2025

Mongolia News Summary for March 07, 2025

Mongolia News Summary for March 06, 2025