AGP Executive Report
Last update: 8 hours agoRenewables Export: Saudi Arabia’s ACWA and Mongolia’s Sun Steppe Power will assess a 4.5-GW wind and solar project, with battery storage and transmission to China or other markets. Mining: Rio Tinto reported Oyu Tolgoi copper output rose 27% in the third quarter, offsetting declines elsewhere. Trade and Investment: Foreign trade turnover rose nearly 35% in the first nine months, exports topped $16 billion and foreign reserves reached a record $8.9 billion. At a Mongolia-Singapore business forum, more than 120 representatives explored investment opportunities; applications for joint carbon-credit projects open October 30. Economic Pressures: September inflation reached 12.9%, while parliament rewrote fiscal rules after the budget breached them. Infrastructure: Japan is lending $1 billion to expand Chinggis Khaan Airport, lifting annual capacity to 5.2 million passengers. Mongolia also opened a 127-kilometre railway bypassing Ulaanbaatar.
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