Recent news
THE FOURTH INDUSTRIAL REVOLUTION REQUIRES AN ACCOMPANYING REVOLUTION IN HIGHER EDUCATION
It is increasingly evident that the Fourth Industrial Revolution will profoundly alter supply chains, production methods, and distribution networks. Governments worldwide are focusing on this transformation, adapting their policies alongside industrial advancements. Simultaneously, as nations align their economies, scientific endeavors, and educational systems with the Fourth Industrial Revolution, opportunities to maximize profits while minimizing costs are emerging, intensifying global competition.
B. BILGUUN: THE NEW BATTERY ENERGY STORAGE STATION BOOSTS MONGOLIA'S RENEWABLE ENERGY TRANSITION
The government has acknowledged the necessity of an energy transition and has initiated several renewable energy projects. In the initial phase, the First Utility-Scale Energy Storage Project has been launched.
In August 2022, Prime Minister L. Oyun-Erdene and representatives from the energy sector, including the Minister of Energy, participated in the foundation stone laying ceremony for the battery energy storage station project. In December of the following year, the station commenced operations, supplying energy to the central grid. Project Engineer B. Bilguun elaborated on the station's efficiency, built within the project's framework.
Mongolia is set to announce its list of critical minerals this year
Countries are formulating their mining sector policies. This entail decisions on the inclusion of specific minerals in their critical mineral lists that have emerged as essential components of national mining sector strategies.
Professional organizations have been discussing the formulation of Mongolia’s policy d on the minerals to incorporate into the list and drafted initial proposals.
GOLD DEPOSITS THAT HERALD HOPE
The price of gold on the world market has repeatedly reached new historical highs, signaling a promising period for the gold industry. Amidst the global Covid pandemic in 2020, countries closed their borders, and international trade ground to a halt. During this uncertain period, characterized by indefinite curfews and economic instability, Mongolia’s economy became particularly fragile and vulnerable.
G. YONDON: A COPPER CONCENTRATE PROCESSING PLANT WILL ENSURE EFFICIENCY AND REDUCE WASTE
We need to first mention the foundational concept known as the ‘Four Tree Structure’ which initiated the establishment of manufacturing and processing plants. As part of the 2020-2024 Government Action Program, construction of heavy industry plants in various locations with developed infrastructure and proximity to population centers was endorsed by the Parliament on August 28, 2020. These decisions were made at the policy level.
AUSTRALIA sIGNS Partnership Agreement WITH GERMANY TO SUPPORT the Vocational Education and Training Sector in MONGOLIA
Ulaanbaatar. Today, the Australian Embassy and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) signed a partnership agreement to jointly support the technical and vocational education and training (TVET) sector in Mongolia. The “Cooperative TVET II” (cTVET II) project builds on the result of the cTVET I project, implemented on behalf of the German Federal Ministry for Economic Cooperation and Development in close cooperation with Mongolian Ministry of Education and Science
Copper concentrate to be sold on the exchange market
The production and export of Mongolia’s mining products contributes 27% of Mongolia’s GDP, and constitutes 71% of the industrial sector, 92% of export income, 77% of foreign direct investment, and 32% of the state budget income. While relying heavily on one sector isn’t ideal, these statistics highlight the mining sector’s crucial position as the primary driver of Mongolia’s economy now and in the foreseeable future.
