The Mongolian Mining Journal

ERDENES TAVANTOLGOI JSC TO REPROCESS WASTE COAL FROM COAL PREPARATION PLANT Erdenes Tavantolgoi JSC has signed a Memorandum of Understanding with Erdenes Industrial and Technology Park LLC to reprocess waste coal from its Coal Preparation Plant and produce value-added products.

G. DAMDINNYAM: MONGOLIA HAS TWICE AS MANY MINING LICENSES AS EXPLORATION LICENSES-A SERIOUS IMBALANCE We spoke with G.Damdinnyam, the Minister of Industry and Mineral Resources

NEW COPPER DEPOSIT “OYUUT” DISCOVERED IN ORKHON PROVINCE A new copper deposit named Oyuut has been discovered in Orkhon Province, covering the territories of Bayan-Undur and Jargalant soums, as a result of recent exploration activities. Preliminary estimates indicate that the deposit holds 357 million tonnes of ore reserves.

“MININGWEEK & MINEPRO 2025” SET FOR NALAIKH ON SEPTEMBER 11–13 The Ministry of Industry and Mineral Resources, the Mineral Resources and Petroleum Authority, and the Mongolian National Mining Association will jointly host the fourth edition of the “MiningWeek & MinePro 2025” international conference and exhibition on September 11–13 at Taij Khairkhan in Nalaikh District.

THE KEY REASON FOR BUDGET ADJUSTMENT From the outset, Mongolia's 2025 state budget has drawn criticism. Now, just six months later, the government has been forced to face economic reality. Under the leadership of the new administration - and particularly at the initiative of the Prime Minister - a decision has been made to revise the budget, signaling a possible shift in broader macroeconomic policy.

WATER IS NOT JUST A NATURAL RESOURCE BUT AT THE CORE OF SOCIAL RESPONSIBILITY Water is not only the foundation of life. It constitutes, without exaggeration, a key ethical benchmark and a central pillar of responsibility in modern mining operations. Around the world, water scarcity is growing more acute, and access to clean water has become one of humanity's most urgent challenges.

Bayan Khundii Gold Project Nears Completion at 99% Erdene Resource Development announced that as of June 30, 2025, construction of the Bayan Khundii Gold Project is 99% complete and approaching its final stages. Earlier, on June 12, the company secured permits for the processing plant, mining operations, and related non-industrial facilities, including storage and chemical handling infrastructure.

ERDENES TAVAN TOLGOI PLACED UNDER SPECIAL REGIME AS REVENUE FALL According to preliminary results for the first half of 2025, total revenue and aid in the General State Budget amounted to 14 trillion MNT a decrease of 914.4 billion MNT, or 6.1%, compared to the same period last year, the National Statistics Office reported.

GOVERNMENT PROMISES STRUCTURED DIALOGUE WITH INVESTORS TO PREVENT UNEXPECTED "SURPRISE The Mongolian Economic Forum 2025 was held on July 8-9, just ahead of the National Naadam Festival. As one of the country's premier platforms, the forum brings together the Government of Mongolia, business leaders, and international investors to present promising projects, share development programs, and address key economic issues.

MIAT TO LAUNCH DIRECT FLIGHTS TO SINGAPORE STARTING THIS NOVEMBER Beginning November 4, 2025, Mongolia’s national flag carrier, MIAT Mongolian Airlines, will launch a new direct flight route connecting Singapore and Ulaanbaatar, the capital of Mongolia.

Erdenes Tavantolgoi JSC Reports MNT 2.5 Trillion in Sales in First Half of 2025 Erdenes Tavantolgoi JSC has released its key performances for the first half of 2025, reporting strong financial performance amid steady export activity. According to the company, 1.3 million tonnes of coal were sold through 20 online trading sessions, generating MNT 2.5 trillion in revenue.

WESTERN INTEREST AND INVESTMENT IN CENTRAL ASIA The European Union is urgently seeking to boost investment in the mining sector to reduce its dependence on imported mineral raw materials, decrease vulnerability, and enhance competitiveness. The EU is also prioritizing financing projects through long-term loans to help stabilize the supply of critical minerals.

UNDP AND ERDENES MONGOL GROUP TO INTRODUCE SDG IMPACT STANDARDS The United Nations Development Programme (UNDP) and Erdenes Mongol Group jointly hosted a high-level meeting titled "Erdenes Mongol Group and UNDP Partnership for Sustainable Impact on June 19.

Mongolia's banking sector records a sharp decline in net foreign assets in June The net foreign assets of Mongolia's banking sector declined by 60.2 percent year-on-year in June, amounting to 3.9 trillion MNT (approximately 1.08 billion USD), according to data released Wednesday by the National Statistics Office. In contrast, net domestic assets saw a significant increase during the same period, rising 23.6 percent to reach 39.1 trillion MNT (about 10.90 billion USD).

WHERE LIES THE BLAME FOR AN ECONOMY OVER-DEPENDENT ON COAL? Last February, the Mongolian government successfully raised $500 million by issuing the "Century IV" bond in the international market. It was recognized both at home and abroad that Mongolia is managing its debt quite effectively.

MINISTER DAMDINNYAM HIGHLIGHTS MONGOLIA’S COMMITMENT TO STRENGTHENING LEGAL FRAMEWORK FOR INVESTMENT Minister of Industry and Mineral Resources G. Damdinnyam received H.E. Sandra Choufani, Ambassador of Canada to Mongolia.

EYES STRONGER PRESENCE IN MONGOLIA'S MINING SECTOR Kito Crosby is a global leader in the design and manufacture of high-quality lifting and rigging equipment, trusted across industries such as mining, construction, offshore energy, and heavy manufacturing.

Embassy of the People’s Republic of China in Mongolia is Named “Focus Country” Mongolian National Mining Association (MNMA) is honored to announce that the Embassy of the People’s Republic of China in Mongolia has been designated the Focus Country for MiningWeek & MinePro 2025.

OECD UPGRADES MONGOLIA’S COUNTRY RISK CLASSIFICATION The Organisation for Economic Co-operation and Development (OECD) upgraded Mongolia’s credit risk rating on June 27, 2025, during its latest review of Country Risk Classifications. The rating was raised from the highest-risk level of 7/7 to 6/7.

MONGOLIA YET TO ANNOUNCE ITS LIST OF CRITICAL MINERALS Rare earth elements are essential for R producing magnets used in wind turbines and electric motors, making them a cornerstone of high-tech renewable energy systems.