Mongolian Market Updates | September 17, 2024

🌅 Good morning,

The Bank of Mongolia (BoM) cut the interest rate by 1 percentage point to 10%. Furthermore, BoM decided to increase the reserve requirement on domestic currency liabilities of banks, bringing it up to 10 percent.

In this week’s newsletter:

• Mongolia Investment Forum in Singapore

• Market News

• “Mining Week x MinePro 2024” event

👀 Mongolia Investment Forum in Singapore: Impact Investing

Organized by Capital Markets Mongolia (CMM) in collaboration with the Business Council of Mongolia, the Mongolia Investment Forum will take place on 5 November 2024, in Singapore.

The forum aims to bring together leading investors, policymakers, and business leaders to examine the evolving investment landscape in Mongolia.

Seeking impartial news? Meet 1440.

Every day, 3.5 million readers turn to 1440 for their factual news. We sift through 100+ sources to bring you a complete summary of politics, global events, business, and culture, all in a brief 5-minute email. Enjoy an impartial news experience.

Join for free today!

🏦 Market News

• XacBank [MSE: XAC] has distributed a total of ₮18.9 billion from its net profit for the first half of 2024 to its shareholders.

• In August, the inflation rate increased by 1 percentage point from the previous month to 6.5%, but it decreased by 3.5 percentage points compared to last year.

• From January to August 2024, Mongolia exported 27.4 million tons of coal to China through Gantsmod port. This marked a 17.9% increase from the previous year.

🔔 Mining Week x MinePro 2024 🔔

Twenty-four companies listed on international exchanges are implementing mining projects in Mongolia. Eight companies are currently on mining operations, while sixteen companies are in the exploration stage.

The Law on Mining Products Exchange, approved by the Great Khural of Mongolia in 2022, took effect on June 30, 2023. This law has created conditions for mining products to be sold at open, transparent, and fair market prices through the MSE.

By the first half of 2024, coal, iron ore, copper concentrates, and fluoride concentrates were all being traded on the MSE’s mining exchange through open auctions.

The 3rd annual "Mining Week x MinePro 2024” International Mining Exhibition & Convention will bring together key stakeholders, including mining project owners, investors, suppliers, and service providers.

CMM, in collaboration with the Mongolian Mining Association, is co-organizing the Mining Finance Day on October 5th. This event will focus on financing strategies for mining projects and suppliers, discussing traditional and innovative methods involving local and international financial institutions.

For more detailed information about the event, please click HERE.

🟣CMM Services

Capital Markets Mongolia (CMM) specializes in providing strategic advisory to public companies on optimizing investor relations (IR) and advising on upcoming IPOs, bond issuances, and effective participation in the capital markets with a focus on efficiency and reputation. Additionally, we undertake market research and provide financial PR services.