Mongolia was one of the first countries in the world to adopt strict Covid-19 containment measures, starting with a January 27 halt to air and land travel between China and Mongolia, closing school and universities, and banning all gatherings. Eventually,

Absorption test results from Elixir Energy’s Nomgon-1 well has indicated the coals are near fully gas-saturated, which could point to a simpler and cheaper pilot design for the Mongolian coal seam gas (CSG) project and the potential for early production.

Steppe Gold Ltd. provided an update on its production ramp-up at its 100%-owned ATO gold mine in Mongolia.

The company made its first gold sales starting on 23 April. Gold and silver is being produced and sold every 14 days. To

Australian miner Rio Tinto has been forced to slash forecasts for the amount of copper it hopes to extract in the expansion of Mongolia’s giant Oyu Tolgoi mine after redrawing the design plans due to rock instability risks.

Rio Tinto’s updated

Turquoise Hill Resources Ltd said on Thursday (2 July) that it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project.

The Mongolian state owns 34% in the Oyu Tolgoi copper project,

The European Bank for Reconstruction and Development (EBRD) has been active in Mongolia for 14 years and has supported over 100 projects to help the nation. The bank has announced a three-fold support package for Erdenet, Mongolia’s second-largest municipality:

EBRD

Earlier today (2 July), the Asian Development Bank (ADB) and the Government of Mongolia signed three projects to lessen the socioeconomic impacts of the coronavirus (COVID-19) pandemic on poor and vulnerable groups in Mongolia, to help support Mongolia’s post-pandemic recovery

At a meeting held on 26 of June 2020, the Monetary Policy Committee decided to:

1) Keep the policy rate unchanged, considering the current macroeconomic and financial market developments, their prospects, and uncertainties in the domestic and external environment;

2) Reduce remuneration