BANK OF MONGOLIA AND SWISS BETTER GOLD ASSOCIATION AGREE TO STRENGHTEN BILATERAL COOPERATION

During its participation in the 2024 World Gold Council meetings, the Bank of Mongolia became one of the first four central banks, alongside the central banks of Colombia, Ecuador, and the Philippines, to sign the London Principles, a set of principles aimed at promoting responsible artisanal and small-scale gold mining.

As part of this initiative, on 10 June 2025, the Bank of Mongolia, the Swiss Better Gold Association (SBGA), and Argor-Heraeus, a leading Swiss precious metals refinery, signed a Memorandum of Understanding (MoU) to implement a pilot project for supplying responsibly mined gold from Mongolia to the Swiss market.

During the pilot phase, five Mongolian mining companies successfully fulfilled all baseline requirements under the first phase of the project. Between January and June 2026 alone, they supplied 53.5 kilograms of responsibly mined gold to the Swiss Better Gold Association.

A joint working group comprising representatives of the project's partner organisations is currently working in Mongolia.

The parties have assessed that all activities envisaged under the 2025 Memorandum of Understanding have been successfully implemented. Building on these achievements and with a view to ensuring the programme's long-term continuation, the Bank of Mongolia, the Swiss Better Gold Association, and Argor-Heraeus signed a Cooperation Agreement on 28 September 2026, further strengthening their partnership in support of responsible gold production and sustainable supply chains.