Economic Archives - Page 2 of 61 - News.MN

Central Bank of Mongolia purchases 100 tonnes of gold

Mongolia’s central bank stated on Thursday that it has bought a total of 22 tons of valuable metals, mostly gold, since the start of 2020 from lawful entities and persons.
The Bank of Mongolia stated that this marks an upsurge of

Consumption of processed fuel soars amid lockdown in UB

As night-time temperatures are set to fall to -35 C in the next days, consumption of processed fuel has increased by 41 percent in Mongolia’s capital Ulaanbaatar in December compared with the same month last year.
This is because the

Oyu Tolgoi receives Tax Assessment from Mongolian Tax Authority

Turquoise Hill Resources on Thursdayannounced that Oyu Tolgoi LLC has received, and is evaluating, a Tax Act (“tax assessment”) for approximately US$228 million cash tax from the Mongolian Tax Authority (MTA) relating to an audit on taxes imposed and paid by Oyu Tolgoi

Western Mongolian provinces connected to UB by highway

Three western Mongolian provinces have now been connected with the capital city of  Ulaanbaatar by highway. The new road will be comfortable and time-saving for travelers and tourists alike. The 127.6 km long highway was constructed between Bayankhongor and Altai.
Construction started in 2015;

UB’s central district to face daily cuts

Mongolia’s electricity consumption has increased significantly after the government wrote off utility payment for households and organisations across the country.
The power grid of Mongolia  saw a maximum load of 1,300 megawatts (MW) on Monday evening, A.Tleikhan, chairman of the Energy

Oyu Tolgoi underground mine: timetable announced

Rio Tinto today unveiled a pathway for the ongoing development of the underground project at Oyu Tolgoi in Mongolia, one of the largest known copper and gold deposits in the world. The definitive estimate details how Oyu Tolgoi underground will

Mongolia benefits as Beijing formalises Australian coal ban

Mongolia’s coal exports dived 23% on month in November though the total was still up by a healthy 27.9% on year at 3.1 million tonnes, according to the country’s Customs data. The decline was chiefly because of the deteriorating COVID-19