The Mongolian Mining Journal

The age distribution of nuclear reactors Nuclear reactors are typically designed to operate for 20 to 40 years

Justifying the expanded budget for the election year 2024 The 2024 budget figures can be explained by the upcoming elections, but if you look at them carefully, the budget includes the inevitable increase in salaries, pensions, and allowances approved by law,” Finance Minister B. Javkhlan said.

MONGOLIA IS PREPARING TO ENTER THE GLOBAL URANIUM MARKET In May 2023, French President Emmanuel Macron paid a state visit to our country. During the visit, the two countries agreed to cooperate in several areas, including in the uranium sector. Five months later, the first state visit of Mongolian President U. Khurelsukh to France took place on October 10-14 at

MONGOLIA MUST DEVELOP POLICIES FOR ADVANCED TECHNOLOGY INDUSTRIES In addition to mega projects such as the construction of a copper smelter and industrial complex that have been discussed for ten years, the time has come to lay down the foundations for high-tech industry that is capable of manufacturing finished products, even small ones. Countries around the world are focusing on dominating the market with green technologies. That also means correctly assessing future demand for copper. Mongolia currently exports raw materials such as copper on a small scale, and needs vision and integrated policies to develop high-tech value-added industries.

B. TULGA: THE CAPACITY OF BORDER CROSSINGS WILL BE TRIPLED The Border Port Revival Policy ranks first among the six objectives implemented under the government’s New Revival Policy. The priority is to increase the capacity of the border ports and fundamentally expand the economy.

G.Manlaijav: Mongolia will emerge as a new player in the global uranium market Human development cannot be separated from energy. The development path of any country is inextricably linked to the energy sector. Currently, there is a growing demand for inexpensive, safe, and clean energy all over the world. To address the challenges of global climate change, and energy crisis and meet the growing demand, countries are increasingly interested in nuclear energy.

Renewable energy in Mongolia Renewable energy in Mongolia

ENERGY “POWER BANK” Within the framework of Mongolia’s long-term development policy, “Vision-2050” and the Government’s “New Revival Policy”, the task of accelerating the revival of the energy sector is being successfully implemented.

"MONGOLIAN MINING WEEK 2023" "MONGOLIAN MINING WEEK 2023"

Investments in the mining and extraction sector have increased Investments in the mining and extraction sector have increased

OUR MISCONCEPTIONS ABOUT WEALTH FUNDS “The state policy on the use of the natural resources shall rely on the long-term development policy to endorse rights of each citizen in current and future generations to live in a healthy and safe environment, consolidate returns on land subsoil wealth at the Sovereign Wealth Fund for equal and fair distribution”. Constitution of Mongolia Provision 2 of Article 6.

NATURAL GAS WILL PLAY AN IMPORTANT ROLE IN MONGOLIA’S ECONOMY Have you completed the methane gas exploration phase and moved on to the next phase? There was information that pilot production wells were drilled

D.Gan-Ochir: THE ESTABLISHMENT OF NATURAL RESOURCE INSTITUTIONS WILL LAY THE FOUNDATION FOR THE DEVELOPMENT OF DEEP PROCESSING, HIGH-TECH AND PRODUCTIVE INDUSTRIES Economic growth reached 7.9% in the first quarter of 2023butslowed down to 5.9% in May. International banking and financial organizations report that unpredictable situations such as sudden recession and banking crises may occur in the global economy.

N. Byambasuren: Our main goal is to support customers through our products and services The upcoming "Mongolia Mining 2023" international mining and oil expo, now in its 12th year, is set to gather the premier companies from Mongolia's thriving mining sector. In an insightful discussion, I had the privilege of speaking with N. Byambasuren, CEO of Mines Up LLC, silver sponsor of the expo. Mines Up LLC is set to contribute its expertise and innovation to the industry showcase.

WHEN WILL THE RAILWAY PROJECTS PRODUCE ECONOMIC RESULTS? A year ago, Wang Yi, a member of China’s State Council and Minister of Foreign Affairs, visited Mongolia to exchange ideas on accelerating the implementation of development

THE MONTH WHEN GLOBAL INVESTORS FLOCKED TO MONGOLIA The “Mongolian Economic Forum - 2023” was held in Ulaanbaatar on 9-10 July. The investment conference was attended by more than 500 guests and representatives, including heads of well-known international investment organizations, economists, experts, and journalists from foreign media. It was organized on the occasion of the Year of Visiting Mongolia, just before the national holiday Naadam, to promote Mongolia and its culture and heritage

S.Narantsogt, Executive Director of Erdenes Mongolia LLC: Implementing large-scale mineral and industrial projects in cooperation with Germany The 9th meeting of the Mongolian-German Economic Committee was held in Ulaanbaatar on June 5, 2023. It was chaired by S. Narantsogt, executive director of Erdenes Mongolia LLC. The head of the German side of the committee was Hans-Christoph Brumberg, director of the Asia region and CEO of WPD LLC which works in the field of design, financing and development of renewable energy projects.

Despite setbacks, the Mineral Commodity Exchange has started working Six months have passed since the draft Law on Mineral Commodity Exchange was finally approvedon December 23, 2022, by a majority vote of all members of Parliament. It had taken a year since the former Minister of Mining and Heavy Industry G. Yondon had presented the draft law at a meeting of the Standing Committee on Economics. On 27 January last year.

Mongolians can export mining-based IT knowledge As mining continues to be the backbone of our economy, the Law on Mining Products Exchange, to be enacted soon, should incentivise to revenue from this industry. However, the mining exchange system should not be uncertain.

HOW CAN WE ATTRACT GLOBAL MONEY TO MONGOLIA ? Foreign direct investment in Mongolia peaked in 2011 but fallen precipitously since then. Since the approval of the revised Investment Law in 2013, foreign investment in Mongolia has virtually ceased, with