The Mongolian Mining Journal

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

J. ZOLJARGAL: A PRODUCTION SHARING AGREEMENT (PSA) MUST BE AMENDED TO EXTRACT METHANE GAS A number of exploration companies have been exploring and researching methane gas for more than five years

B. UYANGA: DETAILED EXPLORATION IS UNDERWAY AT TWO RARE EARTH ELEMENT PROJECTS Training was organized among geologists on applying the classifi cation of mineral deposits. Journalist D. Oyunchimeg used the opportunity

Tender Announcement: Selection of Contractor and Financing Source for First Phase (300 MW) of Tavantolgoi Thermal Power Plant The Tavantolgoi Thermal Power Plant project, managed by "Tavantolgoi Thermal Power Plant" SOLLC, will be implemented in two phases: 300 MW and 150 MW. Currently, we are in the process of selecting a contractor for the Engineering, Procurement, and Construction (EPC) contract with turnkey conditions for the first phase of 300 MW

REFORMING ERDENES MONGOL LLC IS LONG OVERDUE The company has been in operation for 15 years, but during that time the management has changed nine times, and the company’s charter has been revised twice. However, it was...

N. TEGSHBAYAR: OUR TIME FOR URANIUM MINING IS COMING Rare earth elements are becoming an important raw material that is attracting a lot of attention around the world. But so far, the reserves of rare earth elements in our country have not been fully determined, and we cannot even conduct exploration.

Marc Meleard: Mining of uranium deposits will greatly contribute to Mongolian energy independence By D.Oyunchimeg Interviewed Marc Meleard, executive director of “Badrakh Energy” company about Zuuvch-Ovoo project, the most advanced uranium project in Mongolia.

A good example of supporting employment of people living with disabilities and Diversity and Inclusion Thiess in Mongolia operates with over 290 employees, of which 9 of them are people living with disabilities. By law, business entities with 25 or more employees...

Uncertain future oil prospects due to the Russia-Ukraine War The energy sector seems to be the “winner” in the war between Russia and Ukraine. In any case, oil and natural gas producers proudly report record profits for their investors.

ATMOR LLC became official distributors for BRUGG Group ATMOR LLC providing engineering solutions for ventilation, sanitation and piping systems since 2003. With our 20years experience we also introducing new innovations. To pursue our purpose, we signed distribution contract with BRUGG Group. With 4 divisions, 19 production and 32 sales offices,1800 employees of BRUGG Group offered innovative solutions for infrastructures worldwide. Both companies will be participating Build Mongolia 2023 exhibition to introduce 2 products dedicated for the mining industry .