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DAILY NEWS WIRE

September 10, 2021

Mineral license selection procedures will be digitized

Prime Minister of Mongolia L. Oyun-Erdene has set a goal to bring the corruption perception index to double digits within two years. During a meeting with the National Committee on Digital Transition, Bureaucracy, and Corruption-free Public Services, he stated, “The most complaints and suggestions are about bureaucracy and the selection of mineral licenses."
The Minister of Mining and Heavy Industry reported that the ministry is working on updating the mineral license selection procedure to make it digital. The current procedure was approved in 2018.

www.bloombergtv.mn

Mongolian Mining Corporation reported on coal production and exports in the first half of 2021

Mongolian Mining Corporation, listed on the Hong Kong Stock Exchange, reported that it mined 3.2 million tons of coal and exported 600,000 tons of enriched coal in the first half of 2021.
Compared to the same period in 2019, coal mining decreased by 20 percent and exports decreased by 68 percent due to the global pandemic. MMC sold 800,000 tons of coal and its revenue reached 95.2 million USD, falling by more than 60 million USD from last year. Net profit was 24.6 million USD, down 48.3 percent from a year earlier.
According to their semi-annual report, sales have declined due to an increase in local COVID-19 infections and tighter border controls in China. MMC expects to reach its sales target in the second half of the year if the pandemic situation improves and business operations return to normal
The company recently traded at 3.53 HKD on the Hong Kong Stock Exchange.

www.bloombergtv.mn

COVID-19 update

Children now make up a growing number of new COVID-19 cases in Mongolia, accounting for nearly 20 percent since the start of the school year. Confirmed COVID-19 cases in children under 17 years old have reached 49,389, and 3,185 children have been hospitalized since the start of the pandemic. On Thursday, 1,389 children tested positive for COVID-19 infection, according to the Ministry of Health.

Since the start of the pandemic in 2019, Mongolia has recorded more than 270,000 COVID-19 cases, with 33,000 cases recorded in September 2021 alone, the highest monthly number recorded. The National Center for Communicable Diseases estimates that the number of daily infections will reach 4,000 by mid-September. On Thursday, 3,680 new COVID-19 cases and 10 deaths were confirmed. According to some media reports, some patients have died at home due to a lack of access to hospitalized care.

www.bloombergtv.mn

Influenza vaccines now available for children

The Government of Mongolia has purchased 360,000 doses of influenza vaccine from South Korea through the United Nations Children’s Fund (UNICEF), which have been handed over to the National Center for Communicable Diseases.
Distribution of the influenza vaccines will be prioritized for children under the age of 11, who haven’t been vaccinated against COVID-19. Starting today, vaccines will be available to young children, pregnant women, and people with chronic diseases.

www.zasag.mn

REWIND: Week of September 6, 2021

September 6

National Security Council meeting held. Prime Minister L. Oyun-Erdene introduced a bill on COVID-19 economic recovery focused on increasing exports, increasing domestic production for import substitution, creating a more attractive business environment, and improving government and private sector collaboration.
National treasury fund proposed. A national treasury fund was proposed to Prime Minister L. Oyun-Erdene by the Ministry of Mining and Heavy Industry to promote economic development, good governance, social progress, and raising living standards.
Real estate investment reached 20 billion MNT in 2020. Real estate investment increased by 0.2 percent in 2020, compared to the decline in 2019 according to The National Statistics Office.
MSE Top 20 index reached 45,000 points. Top 20 Index reached an all-time high of 4.8 billion MNT, following the previous week’s total market price of 4.5 billion MNT.

September 7

U. Khurelsukh: Taking advantage of geographical location and becoming ‘Transit Mongolia’. During his participation in the Eastern Economic Forum online, he addressed the need to speed up the renovation of the country’s railway transit corridors, which are included in the Mongolia-Russia-China Economic Corridor program.
Container terminal built at Gashuunsukhait Port. Short-term coal transportation between the two countries is expected to increase with the commissioning of the terminal, as exports are projected to increase by 10 million tons per year.
The Government of Mongolia’s external debt reached 8.44 billion USD in Q2 2021. The Government of Mongolia refinanced a portion of the Chinggis and Gerege bonds due in December 2022 and 2023, respectively, and issued the one billion USD Century bond.
The Bank of Mongolia purchased 1.9 tons of precious metals in August. The purchase quantity reached a total of 12.9 tons in 2021, declined by 1.8 tons compared to the same period in 2020.

September 8

Protection of personal data bill sub-working group meets. The Government of Mongolia submitted a bill on the protection of personal data to the Parliament of Mongolia on May 19, 2021, and a meeting of the sub-working group reviewing the proposed legislation was held on September 7, 2021. The bill has been published on www.parliament.mn and feedback can be submitted to the working group, according to Parliament’s Media and Public Relations Department.
Ceremony held for the opening of Mongolia’s first over-the-counter market The Financial Regulatory Commission (FRC) approved a regulation on attracting investment from the OTC market, which is an important step forward for the securities market.
Century bond price sees consistent growth. The price of the bond has been consistently growing by 1.53 percent since August 2021.

September 9

MPs meet to discuss a letter from Rio Tinto to the Prime Minister. The committee discussed a letter from Oyu Tolgoi project investor Rio Tinto to Prime Minister L. Oyun-Erdene and the selection of a legal advisor and a financial advisor.
Asia/Pacific Group on Money Laundering: Mongolia rated largely complaint or complaint on 37 recommendations. APG concluded that Mongolia has taken an active role in implementing a risk-based approach to combating money laundering and terrorist financing, and that progress has been made in compliance with the FATF recommendations.
Asian Development Bank partner with Mongolia on COVID-19 recovery. Asian Development Bank has launched a new country partnership strategy for Mongolia, covering 2021-2024, to help the country recover from the impact of the COVID-19 pandemic, and lay resilient foundations for inclusive and sustainable growth.
International trade turnover reached 10.1 billion USD. The General Customs Administration reported that trade turnover reached 10.1 billion USD in the first eight months of 2021, increasing by 27.6 percent year-on-year.

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