Christmas trees on Sukhumvit Square were burned by protesters and the main boulevard of the capital, Miru Avenue, was briefly blocked by protesters, writes the business publication bne IntelliNews with its main office in Berlin.

The demonstration, which was attended by dozens of people, began in response to rumors that began to circulate after the statement of the prime minister about huge amounts of coal profits that were embezzled or squandered by private structures, instead of being transferred to the public fund.

In the appeal of the American embassy to its citizens in Mongolia, it is said about hundreds of protesters, holders of US passports are asked to avoid the crowd.

The protesters demanded an answer from the government about the possible scam at a time when any kind of profit could help the country overcome economic difficulties caused by the global economic decline.

According to mass.mn, at least 8 people were injured during the protests.

On December 5, members of the Cabinet of Ministers held a press conference dedicated to allegations of theft surrounding coal revenues.

"The government discussed this issue three times," said Minister of Economic Development

Hurelbaatar Chimed

.

"Authorities and officials are involved in the theft of coal.

As a result, the company Erdenes Tavan Tolgoi was subjected to a special control regime," Hurelbaatar said, implying that the employees of the state investment company Erdenes Mongol and the state coal company Erdenes Tavan Tolgoi are responsible for the allegedly stolen income.

"On the fact of coal theft, 10 criminal cases have been opened, which are being investigated by three types: contract, transport and railway", - added Hurelbaatar.

The minister named five former directors of Erdenes Tavan Tolgoi as suspects in the theft of coal.

In late November, officials outlined plans to turn Erdenes Mongol into a sovereign wealth fund (SWF) tasked with investing profits from the country's vast natural resources, such as coal, copper, gold and other minerals.

The authorities stated that it would be easier for a non-governmental fund to fulfill the task of correct allocation of resources.

In September 2022, Mongolian authorities opened a rail link with China from the Tavan Talgai field to export 50 million tons of coal.

Its construction took ten years.

Tavan Talgoi is a coal deposit in the south of Mongolia, one of the largest in the world in terms of reserves.

Mineral extraction accounts for a quarter of the country's GDP.