The Australian and Mongolian governments have announced a new five-year programme for the sustainable development of mining in Mongolia. The $20-million programme, dubbed The Australia-Mongolia Extractives Programme, will use Australian mining expertise to spread the benefits of the industry across the Mongolian population.
Commenting on the new partnership, Australian foreign minister Julie Bishop said, “Releasing Mongolia’s fledgling mining industry from a failed mining tax has greatly benefited the economy. Australia is pledging to support the Mongolian Government with financial assistance and expertise that will improve governance in the mining sector, opening their economy up to international investment and development opportunities.The programme will also improve access to technical and vocational education and training in disadvantaged communities in Mongolia so they are better equipped to gain employment in the mining industry.”