Recent news
N. TEGSHBAYAR: OUR TIME FOR URANIUM MINING IS COMING
Rare earth elements are becoming an important raw material that is attracting a lot of attention around the world. But so far, the reserves of rare earth elements in our country have not been fully determined, and we cannot even conduct exploration.
ATMOR LLC became official distributors for BRUGG Group
ATMOR LLC providing engineering solutions for ventilation, sanitation and piping systems since 2003. With our 20years experience we also introducing new innovations. To pursue our purpose, we signed distribution contract with BRUGG Group. With 4 divisions, 19 production and 32 sales offices,1800 employees of BRUGG Group offered innovative solutions for infrastructures worldwide. Both companies will be participating Build Mongolia 2023 exhibition to introduce 2 products dedicated for the mining industry .
Build Mongolia 2023 Construction, Infrastructure, And Mining Technology Expo will be held on April 19-21 At Steppe Arena
Over 100 of the best companies in the industry will be participating in the expo, showcasing their products and services. Ten countries will be represented by companies such as Alternativa LLC, Magna Tires Singapore Pte Ltd, Amperetex from Russia, Zhengzhou Vanguard Machinery Tech Co., Ltd, and Jiangsu Kingertai New Material Technology Co., Ltd from China. The exhibition will also feature the leading international organizations in the field, presenting their products and services through the Embassy of the United Kingdom of Great Britain and Northern Ireland to Mongolia and the Embassy of the Republic of Poland to Mongolia.
Crypto-Coins and monetary policy
There are two ways to get people to act on their own. The first is to encourage or promise them a reward for taking a certain step. The second is to control or punish them based on fear. Crypto-coin investors are affected in both ways. First, there is the naive expectation that the coins they buy will grow and generate huge profits. Some may have even planned an expensive vacation to the tropics. Second, is the fear of being left empty-handed when everyone says you can buy and sell coins and make lots of dollars.
President of Mongolia Ukhnaa Khurelsukh worked at the logistics center in Zamyn-Uud soum of Dornogobi aimag
On February 14, the President of Mongolia, U. Khurelsukh worked in Zamyn-Uud soum of Dornogobi aimag. It is the main logistics center that handles about 70% of freight and 30% of passenger traffic across the state border and generates 15% of customs revenue. The expansion and modernization of Zamyn-Uud infrastructure is being carried out in cooperation with the People’s Republic of China.The construction of the logistics center’s buildings, facilities and infrastructure began in 2019, and are 91% complete.
B. Dulguun: Electronic coal trading is piloted successfully
The government has approved a temporary regulation for the open electronic trade of coal for export. This will be effective until the “Law on Mineral Commodity Exchange” comes into force, i.e. until the end of June of this year. During this period, the government has assigned the electronic trading of coal through the Mongolian Stock Exchange, and the Financial Regulatory Commission has been tasked with overseeing electronic trading.
L.Oyun-Erdene reshuffled his cabinet and promotes his reform policy
These are days when the public and the authorities continue searching for “coal thieves”, when the demonstrations declined, when the government appointed new ministers, when the opposition elected a new leader, and when the Parliament closed its autumn session after passing a law that encroached on the freedom of speech of citizens.
ONE HUNDRED YEARS FILLED WITH PRIDE
Mongolia’s mining industry is celebrating its centenary. 25 December each year is a day for celebration for the mining industry and miners. Following the victory of the People’s Revolution and the establishment of a new government, the country’s leaders, declared that underground resources were “the property of all the people”.
Coal is our only fragile hope for the next year
The ruling party is arguing internally about “who will own the coal”. Anyone who understands politics realises that the winner of this “war” will not be Mongolia, but some government official or group with self-interest. That the winning side will continue to steal coal is as certain as ever. Xi Jinping, “leader” of the global trade war and chief author of the Wolf Warrior (Xi Defangs the Wolf Warrior) policy, will surely retain his seat while our leaders pursue petty interests by waging an internal “coal war”.
Government decision targeting Erdenes Tavantolgoi
That there is a balance of payments crisis is evident from the imposition on 26th October of a six-month special regime by JSC Erdenes Tavantolgoi. This was unexpected. The company’s director-general, B. Gankhuyag was dismissed from his post and an investigation into the group’s alleged stealing from coal exports that Prime Minister L.Oyun-Erdene mentioned last spring, has been launched. The government believes that the special regime imposed by Government Decree No. 362 of 2022 will help increase the flow of foreign currency into Mongolia. The government states that the core business, management, organization, and balance of payment of Erdenes Tavantolgoi JSC will be improved, and revenues increased. The Ministry of Finance will be in charge for this work.
Miners working long shifts deserve to be paid more fairly
After the implementation of the revised labour law, which was endorsed last July and made effective from this year, miners have less money in their hands. That is because miners who worked more days at mining sites and spent much less time at home, are now entitled to have more time with their families and earn less. But it is not that simple.
Creation of the ‘Mongolian Coal’ brand
The bill on the Sovereign Wealth Fund will be discussed at the autumn session of Parliament. As the government supports, its approval without much objection is expected. The main point is that the structure, management, executive management, board of directors, operating strategy, and direction of the state-owned company, Erdenes Mongolia , is clearly stated in the bill.
