Recent news

  • The political crisis is deepening as the New Year approaches. As we write this, Parliament, the highest institution of state authority, has not sat for several days because of internal disputes in The Mongolian People Party (MPP), which commands a very comfortable majority in it.
  • Operations at Nalaikh, the very first mine in Mongolia, were abandoned quite some time ago but artisanal miners now extract coal from there to sell to ger district households. There are considerable security risks in this and it is imperative to effectively close the mine.
  • Australia is a microcosm of the global mining experience. MMJ finds out from Robin Evans, Program Leader, Sustainable Minerals Institute (SMI) Transformational Learning at The University of Queensland how it is addressing environmental concerns, adopting less harmful energy options, preparing to face the challenges of climate change,adjusting to automation and other issues.
  • Service and agriculture were the dominant sectors in the Mongolian economy before 2008, with mining contributing relatively little.
  • Ten years have passed since the freezing day in November 2008 when Boloroo– as our founder-editor Bolormaa Luntan was affectionately called -- carried copies of the first issue of The Mongolian Mining Journal to distribute them at various sales points.
  • The progress of the project to construct a grass root oil refinery plant with crude oil supply pipeline is moving forward. Since the commencement of the infrastructure project in June, 2018, a great progress has been made on the construction of road, railway, power transmission lines, and substations under short period of time.
  • There is widespread concern at the imminent prospect of Mongolia’s placer deposits being left with no gold. At present their reserves are put at 57 tonnes, and as between 22 tonnes and 25 tonnes are annually extracted from them, the gold is likely to be exhausted by the end of the decade.
  • Centerra Gold has finally moved out of Mongolia, after failing to reach an agreement with the Government on how to develop the Gatsuurt gold deposit.
  • E.Odjargal talks to I.V.Milostnykh, First Deputy Director, Ulaanbaatar Railway (UBTZ), about the status of its upgrading work and other issues.
  • The overall impression at the end of the 16th Discover Mongolia, held in Ulaanbaatar on 6-7 September, was positive for the Mongolian mining sector. The annual international conference is a major platform for wide-ranging discussions on the sector, bringing together investors and members of the Mongolian Government.
  • Erdene Resource Development describes itself as “a company that is focused on creating value for all stakeholders, doing things ‘The Erdene Way’ ”. A core element of this “Erdene way” is its commitment to make positive contributions to local economic development.
  • In his speech at Coal Mongolia 2018, Yang Xianfeng, Director General of the Economic Operations Department of the China National Coal Association, asserted that the Blue Sky programme in China is opening up vast opportunities for Mongolia’s coal exporters and hoped they would make full use of these.
  • D.Chandmani, Head of the Altai Uvur Gobi River Basin Authority, tells G.Iderkhangai that lack of enough water in the southern Gobi is an issue of concern for not just the mines there. There are options to stop the situation getting critical but not much can be done without government support, which is lacking.
  • In a recent update on corporate and project activities, Canada-listed Erdene Resource Development Corp. says it had an active and successful second quarter, where it reported some of the highest grade drill results to date from its flagship gold project Bayan Khundii,
  • On June 29 Parliament approved amendments to the State policy on railway to provide for two new rail routes -- Erdenet-Artssuuri and Zuunbayan-Khangi. This means a total of 1,900 km of railway will be built in the second stage of implementation of the policy, including the following previously approved routes: Nariinsukhait-Shiveekhuren (45.5 km), Tavantolgoi-Gashuunsukhait (267 km), Khuut-Tamsagbulag-Numrug (380 km), and Khuut-Bichigt (200 km).
  • The US-China “trade war” has hurt Mongolia, too, in that our southern neighbour’s demand for coking coal has fallen. However, many analysts feel China will not have to reduce its steel output drastically, and based on that optimism, the market has been showing some positive signs, though this maybe more short-term than is good for Mongolian exports.
  • A German journalist, Dr Dirk Asendorpf, once wrote that the interest of international media in Mongolian mining rose and fell according to the state of the relations between Oyu Tolgoi and the Mongolian government.
  • Parliament’s approval of a resolution supporting steps to get the Tavan Tolgoi deposit into economic circulation was a tribute to the persuasive skills of the sector minister, D.Sumiyabazar, though the tacit backing of the Prime Minister and the absence of opposition from the President also played a part.
  • Following the laying of its foundation stone on 22 June, hopes are high that Mongolia will finally have the long-talked-about oil refinery. The investment of $1 billion is assured, and work should soon begin on the planned two-stage construction. G.Ider asks B.Ankhbayar, Head of the Division of Non-metallic Mineral Production at the Ministry of Mining and Heavy Industry, how things are at the moment.
  • Foreign trade turnover reached $6.3 billion at the half-year mark, according to the National Statistics Office, with exports of $3.6 billion and imports of $2.7 billion. The three figures show a 26%, 15.3% and 43.4% YoY increase respectively. Foreign trade surplus fell 30.4% YoY to stand at $822.2 million.
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LATEST

  • 2021-12-01 11:56
    Energy sector has been experiencing years of hardship. Of course, Covid-19 has affected the energy sector. It has been a while since the government decided to zero out electricity and heating tariffs in order to boost the economy. This decision had an impact on energy sector load. How is the energy load now?  Mongolian energy consumption grows at about 4-6 percent per annum. In 2020, total electricity and energy consumption was 8,850.50 million kW/h.  Domestic production from power plants, renewable sources and diesel power plant accounted for 80.7 percent and the remaining 19.3 was imported.
  • 2021-11-17 13:57
    Alongside the COVID-19 pandemic, the energy crisis has begun to affect the world. By October, gas prices in Europe had increased fivefold due to supply shortages. Oil supply shortages have also followed. The current instability of world’s economies is largely due to the pandemic, but there are many other contributory factors. At the heart of the crisis lies the challenge of reducing greenhouse gas emissions while ensuring a reliable supply of energy. Countries have imposed several short and long quarantines over the past two years to prevent infection spread.  A consequence has been disruption of business relations between countries and reductions in production which, in turn reduced energy consumption.
  • 2021-11-11 14:03
    Why is amending the Investment Law being discussed in an ambiguous and secretive manner?    It should, instead, be thoroughly prepared by the working group of the relevant ministry, and the public consulted. This is clearly required by the Law on Development Policy and Planning, and the Law on Legislation   Article 8.1.5 of the latter indicates that “draft legislation shall be discussed and collect feedback from citizens, representatives of legal entities and public whose legal interests are affected”.  One of the bills that came as a sudden “surprise” without public discussion was the Investment Law. The general concept and content of the draft law have been introduced by relevant officials, but its detailed articles and provisions have not been clarified.     
  • 2021-11-01 10:46
    MMJ spoke with the economist N.Enkhbayar about opportunities to expand Mongolia’s economy, global technology trends, and the implementation of major projects as well as the potential to attract foreign direct investment.  How do you see the current state of the Mongolian economy and foreign investment? In 2010 Mongolia’s economy “rocketed”. At that time, foreign investment exceeded GDP by almost 110 percent. Currently, the foreign investment stands at $2.7 billion, that does not reach even 20 percent of the GDP. Our politicians consider the 5 to 6 percent annual economic growth reported by statistical indicators as good. For us researchers, this is a small number and is considered insignificant for a small economy to grow at this rate for 30 years.
  • 2021-10-22 15:35
    During the last year, Mongolia’s external debt has increased by over $1 billion. Specifically, the first quarter government debt was 15.7 percent higher than during the same period last year. There is an expectation that the country’s external debt will continue to grow till the end of this year, but it would “easily fit” within the 70 percent limit set by law. The Ministry of Finance even presented an estimate indicating that this year’s total will be lower than the previous year compared to the GDP. According to the previous Fiscal Stability Law, the balance of government debt should have been kept at 60 percent of GDP this year. The implementation of this requirement has been delayed to 2024 under a budget amendment and is a result of the pandemic impacting the government’s goal. It is not a secret that the country
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