Economic Archives - Page 4 of 47 - News.MN

Mongolia’s gold purchase surges amid coronavirus lockdown

The Central Bank of Mongolia or Mongol Bank purchased 1.4 tonnes of precious metals from individuals and enterprises in April. The Bank’s purchase has reached 6.7 tonnes of precious metals; 5.0 tonnes being of gold since 1 January. This represents

Coronavirus devastates Mongolian ‘deel’ producers

When the coronavirus struck neighboring China, Mongolia was preparing for the February Lunar New Year, its biggest holiday of the year. It is a time when everyone puts on their very best traditional winter ‘deels’ as the national tunic is

Overdue loans rise by 6.7 percent in Mongolia

The level of overdue loans and owed interest in the Mongolian banking system rose by MNT 120 billion to 6.7 percent of the total loan portfolio in the first quarter of 2020. The large sum of the outstanding loan stock

Mongolia Scraps Coal Miner’s USD1 Billion Overseas IPO Plan

Mongolia has shelved near-term initial public offering plans for state-owned coal miner Erdenes Tavan Tolgoi JSC as the Covid-19 pandemic shakes global financial markets.

The Mongolian coal miner was working with an adviser for preparations of a planned Hong Kong IPO

Erdenes TT to distribute MNT 199 billion in dividends

‘Erdenes Tavan Tolgoi’ (ETT) held a press conference earlier today (27 April) regarding dividends from the revenue of 2019.

The mining giant will distribute dividends totaling MNT 199 billion 736 million to over 2.5 million Mongolian nationals who own 18.5 percent

Over 500 China-Europe freight trains pass through Mongolia

A total of 537 China-Europe freight trains passed through the Erenhot border crossing in North China’s Inner Mongolia autonomous region as of Thursday this year, reported Chinese custom officials. The Erenhot-Zamin Uud crossing is the largest on the border between

Advanced battery energy storage system to be built in Mongolia

The Asian Development Bank (ADB) has approved a USD-100-million (EUR 92.5m) loan to support the installation of a 125-MW advanced battery energy storage system in Mongolia.

The project is calculated to cost USD 114.95 million in total. Of this amount, USD