Rio Tinto’s new chief executive Jakob Stausholm is moving swiftly to strengthen the resources giant’s relationship with the Mongolian government in an attempt to defuse a deepening dispute over the USD 8.7 billion Oyu Tolgoi copper-gold mine expansion.
In a fresh

Mongolia’s economic growth for 2021 will be 4.3 percent, below thatpreviously forecasted by the World Bank.
The fight against the novel SARS- CoV-2 coronavirus, which caused the Covid-19 pandemic, caused a rise in the region’s fiscal deficit; so many governments resorted

Chinese traders are importing more coal from neighboring countries such as Russia and Mongolia; this comes following the disruption caused by the pandemic and seismic shifts in the supply chain.
Last September, Mongolia replaced Australia as the top coking coal supplier

Dry bulk owners are watching customs data out of Beijing closely to see where China is sourcing coal from to replace banned Australian products – the choice will have an enormous ramifications for the overall tonne-mile picture of the sector.

According to an open budget survey (OBS) conducted by the International Budget Partnership, Mongolia ranked 41st out of 117 countries with a transparency score of 56, Montsamereports.
Mongolia’s transparency score of 56 in the OBS 2019 is moderately higher than its

Mongolia’s foreign exchange reserves reached 4.5 billion U.S. dollars at the end of this year, hitting an all-time high.
The record was attributed to measures taken by the Bank of Mongolia to ensure the stability and adequacy of foreign exchange reserves

Just before New Year’s Eve, the Mongolian Government passed a resolution on re-establishing the Children’s Fund and allocating 10 billion Mongolian Tugriks (3.5 million U.S. dollars) to kick-start it.
The fund, initiated by the Ministry of Culture, will be used for

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