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AmCham Mongolia Daily Newswire

March 6, 2019

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Prime Minister U. Khurelsukh receives new ambassadors
Prime Minister U. Khurelsukh met with Philip Malone, Ambassador Extraordinary and Plenipotentiary of the United Kingdom of Great Britain and Northern Ireland to Mongolia, on Tuesday. The PM thanked the ambassador for the ongoing good diplomatic relations between Mongolia and the UK over the past 55 years.
The Prime Minister also met with Ambassador of the United States to Mongolia Michael S. Klecheski. Prime Minister U. Khurelsukh emphasized that Mongolia considers the U.S. one of Mongolia's third neighbor's, noting that the U.S. has supported Mongolia since its transition to democracy and a market 
economy and that he hoped to continue to strengthen bilateral cooperation. Ambassador Klecheski said that he will work closely with Mongolia, especially in the economic sector.
The Prime Minister also received French Ambassador to Mongolia Philippe Merlin. He thanked the ambassador for France's implementation of a comprehensive partnership. The two agreed that summit meetings are crucial to developing bilateral relations and the Prime Minister passed on an invitation to the French Prime Minister to visit Mongolia.

Daily News /page 2/
The Mineral Resources and Petroleum Authority reports on mining licenses
According to the Mineral Resources and Petroleum Authority, five companies have been given mining licenses to operate on more than 100,000 hectares. In detail, Singaporean China Investment Mongolia has rights to 207,500 hectares, Chinggis World Mining has rights to 155,300 hectares, Mongolian Uranium Resources has rights to 191,700 hectares, Kojegobi LLC has rights to 121,700 hectares, and Mon Laa has rights to 108,600 hectares for a mining operation. Thirteen companies hold more than ten licenses; Chinggis World Mining has 49, Mongolrostsvetmet has 30, MAK has 23, and Altan Dornod Mongol and Gachuurt each have 17 licenses.

Today /page B1/
Mongolia exported 36.6 million tons of coal in 2018
Mongolia exported 3.2 million tons of coking coal as of January 2019. Although the Gants-Mod border crossing to China cut its permissible imports in half, Mongolia exported 36.6 million tons of coal in 2018, which is an all-time high. Mongolia plans to export 44 million tons of coal this year.
Today /page B1/
The nation's balance of payments surplus reached 128.1 million USD as of January 2019
The nation's balance of payments’ surplus reached 128.1 million USD as of January 2019. A drop in the current account deficit and an increase in the commodity account surplus positively affected the balance of payments.  According to the Bank of Mongolia (BoM), gold monetization has also positively impacted the balance of payments. Moreover, the BoM predicts that the balance of payments surplus could reach 500 to 600 million USD in 2019, including the International Monetary Fund's extended fund facility financing and Oyu Tolgoi underground mining financing of 1.3 billion USD, despite the high risk of deficit due to rising prices for imports, transport, and high-value services.
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