Ulaanbaatar
“Mining Mongolia-2016” exhibition opens
Economy | MiningUlaanbaatar /MONTSAME/ This action has been aiming to boost the mining industry, to introduce progressive techniques and technologies, and to study foreign experiences
The “Mining Mongolia-2016” international exhibition opened Wednesday in the “Buyant-Ukhaa” complex. It has gathered 120 enterprisers and companies, engaged in mining, from 15 countries including Mongolia, USA and China. All are advertising their products and services.
Having been developing for 100 years for now, the mining industry of Mongolia accounts for 16.1% of the country’s GDP, 78.8% of the export revenue and 67.2% of the total output of industrial sector. Based on a parliament-adopted document on the state policy of mineral sector, basic laws on the mining sector have been amended, said D.Artag, the State Secretary of the Ministry of Mining, at the exhibition’s opening ceremony.
Large companies such as Oyu tolgoi, Erdenes MGL and Erdenes Tavantolgoi are presenting their actions and future goals. The Oyu Tolgoi LLC earned last year 1.6 billion US dollars, reflecting a decline of 5.8 percent against 2014. This occurred due to a drop in gold price in the world market. In 2016, the Oyu Tolgoi LLC plans to explore 175-195 thousand tons of copper and 210-260 ounces of gold, a company leader said.
The “Erdenes Tavantolgoi” company made up 29% of the total coal export of Mongolia in 2015. According to a performance by late 2015, the company exported 4.2 million tons of coal, earning USD 114 million.
Within the exhibition, which will last until this Friday, the Oyu Tolgoi LLC will present its procurement plan, while the “Wagner Asia”, “Sunny Group” and “United Belaz Machinery”--advertise their business.
