Mongolia was not included in the previous ban on Russia’s fuel exports, so it will not be affected in any way.

“Erdenes Tavantolgoi” JSC will produce and sell an average of 24 million tons of products per year.

5,450 containers were stuck in Tianjin port. In normal times, 1.5-2 trains were loaded on the Tianjin Port-Zamiin-Uud route but from the end of March 2024, one train is loaded every two days. This is the reason for the congestion

As of first quarter of 2024, direct investment has reached 885 million usd or increased by 73 percent from the same period last year. 

Mongolia’s economy is projected to grow by 4.8% in 2024 according to the World Bank’s latest semi-annual Mongolia Economic Update.

As of April, export volume has decreased 146 million USD from the last year while import is increasing rapidly.

J.Ganbat, The Plenipotentiary representative of “Erdenes Tavantolgoi” JSC said that since the audit report has been finalized, 256,000 MNT of shares will be paid to citizens from tomorrow.

For the last six months, the Ministry of Economic Development has been continuously negotiating agreements with Russia.