Discover Mongolia – 2019 discusses investment opportunities in Mongolia’s mining industry

Economy | Mining
baljmaa@montsame.gov.mn
2019-09-27 17:05:23

Ulaanbaatar /MONTSAME/. Minerals and mining business summit ‘Discover Mongolia-2019’ is taking place at the Shangri-La Hotel in Ulaanbaatar.


During the key note session “Why invest Mongolia’s resource sector”, ‘Erdenes Mongola’ LLC CEO P.Gankhuu put forward offers to domestic and foreign investors on cooperation in an area of brown coal exploration and development. Moreover, he said that Erdenes Mongol’s subsidiary ‘Erdenes Alt Resource’ is currently developing a gold refinery and copper smelting project with investors as the country has an estimated reserve of copper that is ready for processing at around 3-4 million tons. 


Deputy Director Erdenes Tavantolgoi JSC T.Tsogtbayar gave update on the company’s latest activities, which include Zuunbayan railway development projects, IPO of the Erdenes Tavantolgoi Mining on international stock exchanges and a project to build copper concentration plant with a capacity of 8-9 million tons. Throughout the nine years of operation, the company’s total sales of coal reached 55.8 million tons and exploration is around 58 million tons, 13 million tons of which are explored this year.


In scope of the Discover Mongolia – 2019, a session under theme “Accessing growth with high-valuation upsides” chaired by A.Bilguun, Chairman of Board of the Mongolian National Mining Association discussed the risk of expiration of most mining (exploitation) licenses within the next two years as the number of exploration licenses have been reduced in recent times while the issuance of exploitation licenses has grown. 


The summit ends tomorrow, September 28.