The Mongolian Mining Journal

Bayan Khundii Gold Project Nears Completion at 99% Erdene Resource Development announced that as of June 30, 2025, construction of the Bayan Khundii Gold Project is 99% complete and approaching its final stages. Earlier, on June 12, the company secured permits for the processing plant, mining operations, and related non-industrial facilities, including storage and chemical handling infrastructure.

ERDENES TAVAN TOLGOI PLACED UNDER SPECIAL REGIME AS REVENUE FALL According to preliminary results for the first half of 2025, total revenue and aid in the General State Budget amounted to 14 trillion MNT a decrease of 914.4 billion MNT, or 6.1%, compared to the same period last year, the National Statistics Office reported.

GOVERNMENT PROMISES STRUCTURED DIALOGUE WITH INVESTORS TO PREVENT UNEXPECTED "SURPRISE The Mongolian Economic Forum 2025 was held on July 8-9, just ahead of the National Naadam Festival. As one of the country's premier platforms, the forum brings together the Government of Mongolia, business leaders, and international investors to present promising projects, share development programs, and address key economic issues.

MIAT TO LAUNCH DIRECT FLIGHTS TO SINGAPORE STARTING THIS NOVEMBER Beginning November 4, 2025, Mongolia’s national flag carrier, MIAT Mongolian Airlines, will launch a new direct flight route connecting Singapore and Ulaanbaatar, the capital of Mongolia.

Erdenes Tavantolgoi JSC Reports MNT 2.5 Trillion in Sales in First Half of 2025 Erdenes Tavantolgoi JSC has released its key performances for the first half of 2025, reporting strong financial performance amid steady export activity. According to the company, 1.3 million tonnes of coal were sold through 20 online trading sessions, generating MNT 2.5 trillion in revenue.

WESTERN INTEREST AND INVESTMENT IN CENTRAL ASIA The European Union is urgently seeking to boost investment in the mining sector to reduce its dependence on imported mineral raw materials, decrease vulnerability, and enhance competitiveness. The EU is also prioritizing financing projects through long-term loans to help stabilize the supply of critical minerals.

UNDP AND ERDENES MONGOL GROUP TO INTRODUCE SDG IMPACT STANDARDS The United Nations Development Programme (UNDP) and Erdenes Mongol Group jointly hosted a high-level meeting titled "Erdenes Mongol Group and UNDP Partnership for Sustainable Impact on June 19.

Mongolia's banking sector records a sharp decline in net foreign assets in June The net foreign assets of Mongolia's banking sector declined by 60.2 percent year-on-year in June, amounting to 3.9 trillion MNT (approximately 1.08 billion USD), according to data released Wednesday by the National Statistics Office. In contrast, net domestic assets saw a significant increase during the same period, rising 23.6 percent to reach 39.1 trillion MNT (about 10.90 billion USD).

WHERE LIES THE BLAME FOR AN ECONOMY OVER-DEPENDENT ON COAL? Last February, the Mongolian government successfully raised $500 million by issuing the "Century IV" bond in the international market. It was recognized both at home and abroad that Mongolia is managing its debt quite effectively.

MINISTER DAMDINNYAM HIGHLIGHTS MONGOLIA’S COMMITMENT TO STRENGTHENING LEGAL FRAMEWORK FOR INVESTMENT Minister of Industry and Mineral Resources G. Damdinnyam received H.E. Sandra Choufani, Ambassador of Canada to Mongolia.

EYES STRONGER PRESENCE IN MONGOLIA'S MINING SECTOR Kito Crosby is a global leader in the design and manufacture of high-quality lifting and rigging equipment, trusted across industries such as mining, construction, offshore energy, and heavy manufacturing.

Embassy of the People’s Republic of China in Mongolia is Named “Focus Country” Mongolian National Mining Association (MNMA) is honored to announce that the Embassy of the People’s Republic of China in Mongolia has been designated the Focus Country for MiningWeek & MinePro 2025.

OECD UPGRADES MONGOLIA’S COUNTRY RISK CLASSIFICATION The Organisation for Economic Co-operation and Development (OECD) upgraded Mongolia’s credit risk rating on June 27, 2025, during its latest review of Country Risk Classifications. The rating was raised from the highest-risk level of 7/7 to 6/7.

MONGOLIA YET TO ANNOUNCE ITS LIST OF CRITICAL MINERALS Rare earth elements are essential for R producing magnets used in wind turbines and electric motors, making them a cornerstone of high-tech renewable energy systems.

Bayan Khundii Gold Project Expects First Production in Q3 2025 Peter C. Akerley, President and CEO of Canada’s Erdene Resource Development Corporation, has issued a letter to investors emphasizing that the company’s Bayan Khundii Gold Project in Mongolia is nearing the production stage.

MONGOLIAN PARLIAMENT TO VOTE ON SPECIAL LICENSE TRANSFER FROM ENTRÉE RESOURCES TO OYU TOLGOI In 2004, Turquoise Hill Resources and Entrée Resources Ltd entered into a Profit Sharing Agreement, preceding the signing of the Oyu Tolgoi Project Investment Agreement.

Cabinet reclaims 535.9 billion MNT in unused budget funds to boost efficiency and accountability An extraordinary session of the cabinet was held on June 20, during which key fiscal issues were reviewed and resolved.

T .BATMUNKH: ERDENET PLANT TO PROCESS A RECORD 40 MILLION TONS OF ORE The Erdenet Mining Corporation, commonly known as the Erdenet Plant, is a cornerstone of Mongolia's mining industry, operating continuously for over 40 years.

CANADIAN AMBASSADOR VISITS 'BAYAN KHUNDII' GOLD PROJECT SITE On June 9, 2025, Ambassador Choufani visited the Bayankhundii Gold Mine in Bayankhongor province, operated by Erdene Mongol LLC — a joint venture between Canada’s Erdene Resource Development Corporation and Mongol Mining Corporation (MMC).

THE MONGOLIA ECONOMIC FORUM 2025 TO TAKE PLACE THIS JULY The Mongolia Economic Forum is a leading national conference focused on tackling the nation's key economic and social challenges, aimed at accelerating Mongolia's development.