Member Info for gadgie

Accelerate development of the oil refinery project :

In addition, the Parliament did not support the draft law on increasing the use and efficiency of foreign loans. Due to the lack of support of the law project, there is a risk that the oil refinery will be built and it will not be operational within the scheduled period.

Minister of Industry and Minerals G.Damdinnyam announced that at today's meeting of the Government, a decision has been made to expedite the development work of the Oil Refinery Plant in the situation arising from the budget constraints. According to him, two decisions related to the oil refinery were made at the regular meeting of the Government.

In this, First, the Government approved a resolution directing the Board of Directors to open up relatively flexible working opportunities to provide flexible working conditions for certain works included in the Oil Refinery Development Contract. Minister G.Damdinnyam said in his speech "The decision has been made to allow the company to make changes without affecting the results, work tasks and quality within the framework of the Board of Representatives".

Secondly, in the draft law on increasing the efficiency of foreign loans, the Selbe sub-center was excluded and the Erdeneburen oil refinery will be re-presented by the Government to the Parliament by removing the Selbe Sub-center and "promoting" the oil refinery.

If this issue is resolved urgently, the use of loans for the development of the oil refinery has been made to increase and accelerate the work of the factory. Parliament and relevant standing committees will be discussed soon" said.

https://www.facebook.com/Ministry.of.Industry.Mineral.Resources

The Ministry of Energy has posted an invitation to the auction of a project with solar power station and battery storage system to be implemented in five aimags on its website https://energy.gov.mn/post/174968 Registration closes on June 15th and will start work by July 1st.

State Secretary of the Ministry of Energy B.Eren-Ulzii: The work of solving the problems of the project implementation area and identifying the connection points is being completed.

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The Ministry of Energy has published the auction invitation for solar and battery storage projects in five provinces on its website.

Registration closes on June 15, with project implementation set to begin by July 1.

Abzzba bang on re due diligence forgot about that buddy thanks

Can't Wait !

Thank you very much for your enquiry.

We understand the frustration shareholders may feel on details regarding farm-out discussions, however ensuring these are confidential is both best practice and protects the Company’s negotiating position.

We look forward to updating you and the market in due course.

Abzzba .... Farm in Partner could be waiting to see Gazelle resource upgrade & Gobi producing prior to signing ....Gobi alone significantly improves any deal being negotiated ?

Thanks Dan

Bearing in mind prices today would it not be wiser to go Gobi / H2 first ?

Hi Dan any Sat images ?

My Favoured

1) Confirm Gazelle Resource Est

2) Confirm Gobi

3) H2 Producing

4) Farm Out

5) Going it Alone

6) Sale Block 20

Ulaanbaatar, April 30, 2026 /MONTSAME/. The Government has approved a resolution aimed at reducing dependence on fuel and energy imports.

“This green resolution is a comprehensive solution to safeguard our energy independence,” Prime Minister Uchral Nyam-Osor said during the Cabinet meeting.

To promote green energy development, address shortages in energy supply, reduce load and losses in the centralized grid, and improve the reliability of electricity supply for consumers, the Government has instructed Minister of Energy Naidalaa Badrakh to organize tenders for privately financed battery energy storage projects in Bayangol soum of Orkhon aimag, Arvaikheer soum of Uvurkhangai aimag, Kherlen soum of Khentii aimag, Sainshand soum of Dundgobi aimag, and Sumber soum of Gobisumber aimag. These projects are to be commissioned before December, ahead of the peak winter demand of 2026–2027.

The Prime Minister emphasized that “every green technology, green solution, and green innovation contributes to environmental protection, strengthens energy independence, and offers cost-saving, eco-friendly solutions.”

The implementation of the resolution is expected to increase the share of renewable energy, reduce reliance on energy imports, lower air pollution and greenhouse gas emissions, accelerate the adoption of electric transport and related infrastructure, improve access to green financing, and deliver tangible progress toward Mongolia’s long-term green development goals.

According to the Government Media and Public Relations Department, the measures outlined in the resolution will be implemented through public-private partnerships, as well as domestic and international green financing sources and investments.

Well worth another read

https://envoi.co.uk/projects/active-projects/asia/mongolia/

Daily trades amount to a tiny percentage of shares in issue and bearing in mind recent raise price has held firm , wait till new's arrives this will move quickly IMHO and Petrovis our biggest holder won't be selling any !

Https://mining.mn/content/2726

Sat images hopefully soon and at Gobi fingers crossed , and if it flows boom baby boom

A Red Dot at 7am would be nice GLA

TBT in the bin … shame you can’t ignore the idiots , off you go

Grow up FFS he said she said ....Filter and be done !

Https://mining.mn/content/2717

Prime Minister of Mongolia N. Uchral /2026.04.28/ received Ina Marchulyonyte, Ambassador and Head of Delegation of the European Union to Mongolia.

During the meeting, the parties exchanged views on the current status of cooperation between Mongolia and the European Union, ongoing projects and programs, investment opportunities, and issues that need further attention.

Prime Minister N. Uchral emphasized that expanding and developing relations with European Union member states is one of the priorities of Mongolia's foreign policy, and presented the policies and measures implemented by the Government to increase foreign investment and create a favorable investment environment. He also emphasized that the Government is implementing the goals of stimulating the economy and supporting the business environment within the framework of the "Freedom" initiative.

Noting that economic and business relations between Mongolia and the European Union have been actively expanding in recent years, he mentioned the European Union-Mongolia Business and Investment Forum held in 2025 and the Investors' Roundtable in 2026, and emphasized that the signing of a Memorandum of Understanding for an investment of one billion euros by the Government of Mongolia with the European Investment Bank was an important step in taking bilateral investment cooperation to a new level.

The Prime Minister also highlighted the invitation sent by Mongolian President U. Khurelsukh to a high-level representative of the European Union to attend the 17th Conference of the Parties (COP-17) of the United Nations Framework Convention on Climate Change, saying that the conference will be an important platform for expanding investment cooperation in the green development sector.

European Union Ambassador Ina Marchiulionyte expressed a high interest in European countries investing in Mongolia, especially in expanding cooperation in the renewable energy sector.

He noted that the "European Day-2026" event will be held in Darkhan-Uul aimag on the 23rd of next month, emphasizing that this year the event will be held locally for the first time. The parties exchanged views on deepening cooperation in areas such as the environment, local development, and public-private partnerships.

Imagine the pressure PM are under at the moment ! When up and running the Refinery will boost approx 10% of Mongolia's GDP

Oil prices increase will reduce economic growth by 1.8 percent

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The Central Bank has calculated in three versions how oil prices will affect Mongolia's economy.

#If_current_situation_continues, oil prices will reach 95 USD on average next season, fuel prices will rise by about 40 percent and will have a direct impact on total inflation by 2.8 percent, according to the Mongolbank Monetary Policy Report.

By #Bad_version, the price of oil will reach about 120 USD in the next season and in 2027, if it will be stored at 95 USD on average, the domestic price of fuel will increase by 70 percent.

And according to the estimates of #worst_version, the price of oil will reach 150 USD next season and in 2027, fuel prices will increase by 120 percent if it will be stored at 117 USD on average.

According to these three versions, the prices of other goods and services will rise, and the total inflation is expected to increase by 4.4-13.4 percent this year and by 1.4-2.4 percent next year. In this case, economic growth will decrease by 0.2-1.8 percent in 2026-2027.