AGP Executive Report
Last update: 8 hours agoEnergy Infrastructure: Erdeneburen Hydropower Plant construction has reached 40%. The $266.4 million project, financed by a Chinese concessional loan, is expected to boost domestic power supply and reduce import dependence. Mining: Erdene reported slightly higher Q3 gold production at Bayan Khundii and a further $20 million debt repayment, with higher output expected in Q4; its Zuun Mod study also points to a major undeveloped molybdenum deposit. Rio Tinto separately reported a 30% rise in copper production at Oyu Tolgoi. Project Finance: Aspire Mining has cut upfront costs for its Ovoot coal project, but financing remains unsecured and transport approvals are pending. Economic Policy: Mongolia has joined the World Bank’s IDA fund as a donor, pledging 4.8 billion tugrik ($1.3 million), after decades as a recipient. September inflation rose to 12.9%, while the Bank of Mongolia and IMF are working to improve the monetary policy framework. Regional Business: Khovd Eco Cement, which began exporting to Russia this year, is seeking support to expand exports and plans to supply 100,000 tonnes annually to Eurasian markets.
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