Mongolia has asked Rio Tinto, its partner in the huge Oyu Tolgoi copper and gold mine in the Gobi desert, not to further increase its estimated USD 7.06 billion budget for the project’s expansion, its mining minister told Reuters.

The two

South Korean telecommunications giant KT Corp signed a partnership deal with the Mongolian government to secure a stable supply of some 80 kinds of mineral resources, including rare earth elements.

Under the agreement, KT laid a stable foundation for preferentially supplying

In 2022, Mongolia traded with 160 countries. The total trade turnover reached USD 21.2 billion; exports amounted to USD 12.5 billion and imports to USD 8.7 billion.

The total foreign trade turnover increased by USD 5.2 billion (32.1%). Exports increased by

Mongolia’s export reached USD 12.5 billion, said Finance Minister B.Javkhlan at the government meeting. The Ministry of Finance presented the execution of the budget for 2022.

The state budget deficit has decreased, and the budget balance has improved by MNT 1.4

Mongolia’s reported move to modify how its coal exports to China are priced may mean higher costs for Chinese users, and Chinese industry experts said that efforts by Mongolia to change the ecosystem of cross-border coal trade may affect the

The annual inflation rate for Mongolia rose by 13.2 percent year on year in December, data by the country’s National Statistics Office (NSO). The index decreased by 1.3 percent from a month earlier.

The increase was mainly due to the higher

Mongolia’s foreign exchange (forex) reserves rose to USD 3.4 billion at the end of 2022. Therefore, country of 3.4 million was able to avoid a big risk of entering into a program with the International Monetary Fund and declaring default.

Due

Aspire Mining Ltd  is busy developing metallurgical coal assets in Mongolia, where it is working on its wholly owned Ovoot Coking Coal Project (OCCP) in the country’s north. The company has now wrapped up onsite activities related to a small-scale