What have been the most important updates from the MSM Group in 2025?

We have grown through H1 2025 by about 20%, being particularly strong in truck sales both to distribution and mining companies. Our mining business has grown mostly in our service offerings, and we now have over 400 technicians on the Oyu Tolgoi mine site for repair and maintenance of our equipment there.

This year, the MSM Group was acquired by the Jebsen & Jessen global family enterprise, giving us financial means we did not have before. Mongolia is a country where you need to operate in the long run before you are rewarded, and this is a vision we share with Jebsen & Jessen.

Why has the services division of the MSM Group particularly grown recently?

Because we provide our own technology to clients such as Oyu Tolgoi, it is required to have maintenance staff with specialized skills to deal with our specific solutions. For example, to improve safety, road trains are equipped with sensors and radar technology to navigate trailer tracks and underground tunnels. Repairs are often in high demand due to the conditions of mines in Mongolia and the tough conditions, meaning that our maintenance services are required more often. As more companies look to operate more efficiently across their operations, including predictive and preventative maintenance, our service offerings will continue to grow. 

How is labor migration affecting the Mongolian mining workforce, and how is the MSM Group responding?

This is a prevalent issue, with staff turnover in Mongolia around 20%. If someone from Mongolia goes to work in South Korea for one or two years, typically, they can return to Mongolia and buy an apartment. Earning opportunities abroad are significantly better. In the MSM Group, we often have requests to go to Korea, and we are not necessarily opposed to losing workers temporarily for them to gain skills. As part of Jebsen & Jessen, the MSM Group now has access to mining companies in Australia and the US, without talent leaving the group. 

Are Mongolian mining companies receptive to deploying new technologies in their operations?

In general, Mongolian mining companies are open to trying new things. What they want is the security that if something does break down, it can be fixed quickly, making on-site support for new technologies paramount. While in other jurisdictions we are seeing a trend towards standardization, the industry must adapt and try new things, which I think is happening in Oyu Tolgoi and other mining companies in Mongolia. 

How would you assess the current investment climate and prospects for doing business in Mongolia?

I think many of the challenges we have faced over the last few years in the country are nothing new, and we are well-prepared to deal with them. All challenges in Mongolia are manageable, and there are many opportunities that arise from operating here. 15 years ago, Mongolia’s GDP per capita was around US$1,000, and today this is at US$6,000. Once the country manages to unlock the full potential of its mineral wealth, this could increase further towards US$10,000 and beyond. Mongolia is a country where focusing on your people and investing in the country you can run a successful business. 

Where should the new government focus its efforts to improve the mining industry?

Awarding more exploration licenses would be beneficial for Mongolia. I think we need to explore more, find new deposits, and then focus on bringing them to production. Furthermore, instead of the government investing in the largest mining projects directly, they should let the investment be done and risk taken by mining companies, and take their cut in royalty fees. This would create a sustainable system for the government, local people, and investors. 

What are your plans for the MSM Group in the immediate future?

We just concluded outlining our strategic five-year plan, in which we aim to double revenue and employment in this timeframe. We are looking to do this organically, with a focus on providing total solutions to our customers. Nowadays, just selling a product is not enough, as clients are increasingly looking at the total cost of ownership. I think this is where the company can further expand moving forward.