Mining industry accounts for 85 percent of total exports of Mongolia

2017-01-04 16:30:15

Ulaanbaatar /MONTSAME/ More than 20 mineral deposits were put into operation in the year of 2016, creating about 800 vacancies and over MNT 20 billion was invested in the mining industry of Mongolia, the Ministry of Mining and Heavy Industry reports. 

According to the expected state budget performance of last year, 19 tons of gold, 33 million tons of coal, 7.5 million tons of iron ore, 1.1 million tons of oil and 200 thousand tons of fluorite, 1.4 million tons of copper concentrate, 4.7 thousand tons of molybdenum concentrate and 100 thousand tons of zinc are anticipated to have been produced in 2016.  

The report of the Mining Ministry says, the mining sector accounts for 85 percent of the total exports of Mongolia, 63 percent of the industrial production, 18 percent of GDP and one-fourth of ¼ of the state budget revenue.