Interview

FLS DRIVING INNOVATION AND SUSTAINABILITY IN MONGOLIA'S MINING INDUSTRY FLSmidth (FLS) is a global leader in mining technology, providing equipment, services, and digital solutions that enhance productivity, efficiency, and sustainability. In Mongolia, the company collaborates closely with local mining operators and authorities to address the unique challenges of the region.

TD Equipment: Strengthening Mongolia's Drilling Performance Through Innovation and Local Investment We spoke with Vince Startsevich, Business Development Manager at Black Diamond Drilling Services-an Australian company working to bring global engineering expertise to Mongolia. The company supplies equipment, trains underground mining personnel at Oyu Tolgoi, and provides technical support tailored to the challenging climate and unique terrain of the Gobi region.

D. DALAIJARGAL: URANIUM MINING PROJECT ADVANCES FAST WITH FRENCH FUNDING The Government of Mongolia has signed an investment agreement with France's state- owned company, Orano Mining.

T. BATTULGA: THE "MONGOLIA MINING" EXPO HELPS TRANSFORM OUR RESOURCE-RICH NATION INTO A LEADER IN RESPONSIBLE MINING The Mongolia Mining Expo, which showcases the progress of Mongolia's mining sector, its core principles of responsible extraction, and the prospects for innovation, marks its 15th anniversary this year.

PRECISION AND POWER: RAD TORQUE SYSTEMS’ EXPANSION INTO MONGOLIA’S GROWING MARKETS RAD Torque Systems is a Canadian-based manufacturer specializing in high-precision torque tools designed for demanding industrial applications. With over 30 years of experience, RAD is recognized globally for its innovative pistol grip torque wrenches, widely used across industries such as mining, aerospace, construction, and energy.

T. MUNKHBAT: INVESTING IN GEOLOGY BRINGS BENEFITS BEYOND MINING We spoke with T. Munkhbat, Chairman of the Joint Council of Mongolian Geological Associations, about the current state of the geology and exploration sector.

ORANO'S STRATEGIC GROWTH IN MONGOLIA The Zuuvch Ovoo project represents $1.6 billion in direct investment for Orano Mining over the lifetime of the project. It will produce 2,500 tU per year (amounting to 4% of the world's current production) and employ 1,600 people, both directly and indirectly.

CHE CHANGBO: THE CHINESE GOVERNMENT PRIORITIZES GREEN EXPLORATION, GREEN MINING, AND ECOSYSTEM RESTORATION The participation of mining associations from China and Canada in Mining Week & MinePro 2025—Mongolia’s largest mining sector event—marked a new chapter in international cooperation for the country’s mining industry. Notably, China took part as the event’s “Focus Country,” lending the occasion added significance. On this occasion, we spoke with Mr. Che ChangBo, Secretary General of the China Mining Association, about current trends in the mining sector, key challenges, and opportunities for China–Mongolia cooperation.

G. DAMDINNYAM: MONGOLIA HAS TWICE AS MANY MINING LICENSES AS EXPLORATION LICENSES-A SERIOUS IMBALANCE We spoke with G.Damdinnyam, the Minister of Industry and Mineral Resources

T .BATMUNKH: ERDENET PLANT TO PROCESS A RECORD 40 MILLION TONS OF ORE The Erdenet Mining Corporation, commonly known as the Erdenet Plant, is a cornerstone of Mongolia's mining industry, operating continuously for over 40 years.

A. ENKHJIN: RISING GOLD PRICES ARE EXPECTED TO STABILIZE AROUND $3,000 A. Enkhjin, Director of the Financial Market Department at the Mongol Bank, shared insights on the current state and future prospects of the gold market.

MONGOLIA TO BUILD THE WORLD'S FIFTH LARGEST URANIUM MINING PLANT To find out, we spoke with D. Dalaijargal, Executive Director of the state-owned Mon-Atom LLC, the government's implementing agency for the project.

B. DULGUUN: CHANGES TO TRADING REGULATIONS WILL BOOST COAL EXCHANGE ACTIVITY In an interview with B. Dulguun, the Acting CEO of the Mongolian Stock Exchange, we discussed the current demand for minerals, market needs, and the future of trading on the Mining Products Exchange.

T. BATTULGA: "MONGOLIA MINING-2025" EXHIBITION TO BE HELD UNDER THE SLOGAN "SMARTER TECH – STRONGER MINES" The 14th edition of Mongolia Mining-2025, the country’s premier international mining exhibition, will take place this spring from April 17 to 19 at the Buyant-Ukhaa Sports Palace. We interviewed Mr. T. Battulga, General Director of Minex Mongolia LLC, the organizer of the exhibition.

D. DALAIJARGAL:THE IAEA WILL CONDUCT RESEARCH AND MONITOR THE ZUUVCH-OVOO DEPOSIT The Mongolian government adopted its policy on radioactive minerals and nuclear energy in 2009. Its primary goal is to expand the country's reserves of radioactive minerals and utilize them for peaceful purposes.

MARC MELEARD: THE START OF THE ZUUVCH OVOO PROJECT WILL COME AT A TIME WHEN PRODUCTION FROM EXISTING URANIUM MINES WILL BE INSUFFICIENT TO MEET THE DEMAND FOR NUCLEAR ENERGY. Mongolia negotiated an investment agreement with Orano Mining, France, to implement its uranium mining project. In this context, we spoke with Marc Meleard, General Director of Badrakh Energy, the joint venture between the Government of Mongolia and Orano Mining.

G. YONDON: ERDENET PLANT'S RESERVES ARE PROJECTED TO LAST UNTIL 2079 MMCG Research and Consulting Services conducted the study and presented its findings in the report titled "The Impact and Contribution of the Erdenet Mining Corporation on the Society and Economy of Mongolia: Past, Present, and Future." The study aimed to offer a concise overview of the plant's performance through numerical data.

J. ZOLJARGAL: DISCOUNTED COAL PRICES FOR MONGOLIA POSSIBLE WITH REDUCED DEPENDENCE ON SINGLE BUYER Mongolia's primary export is coal, with the country achieving a historic milestone by exporting 83.7 million tons last year. We discussed the successes, challenges, key issues, and future trends in the coal sector with Member of Parliament J. Zoljargal.

S.SANASER: GOOD CORPORATE GOVERNANCE ENHANCES PROFITABILITY, EFFICIENCY, AND ACCOUNTABILITY. We spoke with S. Sanaser, an economist, PhD in Business Administration, and governance consultant, about the development of management systems and governance in state-owned companies.

ORICA MONGOLIA AT MONGOLIA MINING 2024: SHAPING THE FUTURE WITH TECHNOLOGY AND SUSTAINABILITY Orica, a global leader in mining and infrastructure solutions with 150 years of experience, operates in Mongolia with our flagship project at Oyu Tolgoi. Our company provides advanced products and services, including digital and automation solutions, mining chemicals, and safety management. Orica’s GroundProbe™ radars are used at Oyu Tolgoi for slope stability monitoring, and we aim to support Mongolia's mining sector by offering tailored solutions that optimize operational costs and meet ESG goals.