Mining in Mongolia

Mongolia’s mining industry has developed rapidly during the past 10 yrs, a Ministry of Mineral Resources and Energy official told an International mining event Friday.

Ch. Tsogtbaatar told the 2012 Mongolia International Mining Exhibition the mining industry accounted for a third of Mongolia’s GDP and 85% of its exports.

The senior official said, during the past decade, gold production had increased 17-fold, Copper and Molybdenum ore production had gone up 32% and Coal production had reached 30-M tons in Y 2011 from 4.8-M tons in Y 1995.

More than 90 mining equipment manufacturers and distributors from 15 different countries, including China, Mongolia, Russia and Australia exhibited their products, including mineral crushers, drilling machinery and environmental technology services.

Andy Long, marketing manager of a Beijing-based environmental technology research company, told reporters his company attached great importance to the Mongolian market and was seeking to expand its businesses in the market.

His company is currently pollution-prevention services for the giant Oyu Tolgoi Copper-Gold deposit, one of the World’s biggest Copper-Gold mines, now under construction.

The mining industry in Mongolia has expanded dramatically since the 1990′s to become the most important sector of the Country’s economy between Ys 2002 and 2008.

It accounted for 33% of GDP in Y 2008, compared with 14% in Y 2002. Currently, the sector alone accounts for more than 70% of the Country’s industrial output.

Paul A. Ebeling, Jnr.

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