“Mining made up 78.8 percent of total export revenue”

Economy | Mining
2016-02-18 17:07:52

Ulaanbaatar /MONTSAME/ The third annual “Mineral Riches 2025” forum kicked off February 18 in Ulaanbaatar. The “Comprehensive Local Development and Partnership”-themed acion, aiming to improve connectivity between the government, localities and licensed mining companies, is being organized by the German Federal Enterprise for International Cooperation (GIZ), Extractive Industries Transparency Initiative (EITI) and the Sustainable Development and Social Accountability Council of Mongolia.

Minister of Mining R.Jigjid gave an opening remarks, saying that the Government has an objective of sophisticating the legal environment concerning minerals’ sector. The documents have been formulated, such as draft amendments to the Law on Mineral Resources, draft amendments to the Law on Nuclear Energy, draft amendments to the Budget Law, draft amendments to the Law on Human Development Fund, the new wordings of the “long-named” law, of the law on widespread minerals and of the bill on joining the Convention on Safety and Health in Mines, as well as of the law on petroleum, said the Minister.

Regardless of the decline in the global metal prices, over 250 mines and extraction plants operated in full capacity, and made up 16.1 percent of GDP, 67.2 percent of total industrial production and 78.8 percent of export revenue in 2015, he noted.

R.Jigjid, however, reminded the gathered of some pressing issues in need of immediate attention such as the need to improve road, transport, energy and water facilities and infrastructures, and enhance the processing level of the existing plants, intensify the exploration processes at the permitted areas and build legal grounds for artisanal mining, as well as to strengthen understanding between localities and the special permit holders.