April 3, 2018

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MPs meet with World Bank representatives     


On April 2, the chair of Parliament's Economic Standing Committee, D. Damba-Ochir, met with a World Bank delegation led by Mr. Deepak Mishra. During the meeting, Mr. Damba-Ochir gave a briefing on Mongolia's current economic situation, economic policy, and economic outlook. Mishra highlighted that a country's government debt-to-GDP ratio is specifically considered for the World Bank’s loan and financing decisions, and recommended that the Government of Mongolia maintain an appropriate level of debt. At the end of the meeting, World Bank Country Representative for Mongolia James Anderson spoke about which sectors would need the Bank’s support in the next four years. In response, D. Damba-Ochir requested support for developing the securities market and investment for promising private sector projects.

Keywords: Parliament, financial market, economic development   The National Post /page 2/


Bank of Mongolia buys 734 kg of gold in March


The Bank of Mongolia reported that it bought 734 kg of gold in March 2018, bringing the total amount of gold purchased by the central bank since January to 2.3 tons, a 2.1 percent increase compared to the same period last year. The comparatively low amount of gold purchased in the 1st quarter of 2018 has been attributed to mining companies delaying operations to clear sediment deposits. The average price of gold per gram has been set at 101,822 MNT due to lower prices on the London Metal Exchange. The BoM bought six tons of gold in 2013, 12.7 tons in 2014, 15.1 tons in 2015, 18.3 tons in 2016, and 20 tons in 2017.

Keywords: BoM, metals market    Today /page 1/


Metals mining to be highlighted at Mongolia Mining 2018


Mongolia Mining 2018, and international mining and oil exhibition, will be held for its 8th consecutive year at Buyant-Ukhaa Sport Complex on April 4 to 6. One hundred and thirty companies from nearly 20 countries will take part in the expo. The participants will include operators and suppliers from Canada, the Czech Republic, Australia, the U.S., Germany, Russia, China, Belarus, South Korea, India, Kazakhstan, Ukraine, Turkey, and Sweden. The Mineral Resources and Petroleum Agency will organize its annual workshop on the current status of the mining sector and a discussion of policies. Last year, discussions were centered on the coal industry, but metals mining will be emphasized this year.

Keywords: exports, MRPA, copper   The Century News /page 5/

online story  

Ministry of Energy hopes for renewable energy to make up 20% of electricity production by 2019


As of February 2018, 502.3 million kilowatt-hours of energy was generated nationwide, with renewable energy making up seven percent of energy production. Mongolia’s Sustainable Development Vision includes the goal of raising the share of renewable energy in electricity generation to up to 20 percent. The policy and planning department of the Ministry of Energy has stated that the goal could be achieved by 2019. The ministry said that the minimum price limit for consumed energy could be lifted in order to strengthen fair competition and lower prices.

Keywords: green development, renewable energy

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The American Chamber of Commerce in Mongolia · 8F Naiman Zovkhis Building 21 Seoul Street · Ulaanbaatar, 01 14251 · Mongolia