Recent news
4 companies express interest in oil refinery
Four international companies – CPP-MAX (Mongolia-China consortium), ISN (Mongolia-UK JV), a Mongolia-Canada consortium, and a Mongolia-China consortium – have so far expressed their interest in building the proposed oil refinery in Bor-Undur soum in Khentii aimag, according to Industry Minister D. Erdenebat.
“China offers huge opportunities but also high risks”
Mongolia’s economic growth depends quite a lot on what happens in China. Dr. D.Shurkhuu of the Institute of International Studies at the Mongolian Academy of Science tells G.Iderkhangai how decisions taken at the recent meeting in Beijing of the National People’s Congress are likely to impact the Mongolian economy, especially its mining sector.
Managing resources: UB seminar shares experiences
Since boom-bust-boom cycles are normal in commodity markets, it is essential for resource-rich countries to manage their underground wealth prudently, through good times and bad. Some countries have done this more successfully than others, and Norway is taken to be among the best of them, while Mongolia realises it has not been particularly successful in fulfilling its potential.
First step for a long trek
An article in our Mongolian section last month, read together with its updated version in English in the present issue, will give hope to all who look forward to Mongolian State-owned enterprises functioning to their full potential, contributing more to the nation’s GDP, in both absolute and comparative terms.
Stakeholders discuss local development, want stronger cooperation
The theme of this year’s Mineral Resources 2025, an annual event organized by the Ministry of Mining, was integrated local/community development-partnership. It was held at Corporate Hotel on 15 February, and was co-sponsored by the Integrated Mineral Resources Initiative (IMRI), a programme run by GIZ, the German organisation for international cooperation, and the National Council for Sustainable Development and Social Responsibility.
Survival, and beyond
Producers and sellers find today’s mineral commodity market dismal, with prices falling all the time. This started back in 2012, and no respite seems in sight. Some studies and analysts predict a recovery in mid-2016, but not many companies share their optimism and most are looking for a viable survival strategy.
Time to think beyond copper concentrate
Ever since the Erdenet factory was established in 1978,copper has been the main pillar of the Mongolian economy. True, coal export revenue was more than that of copper from 2010 to 2013, but copper soon regained its pre-eminence, as data from 2014 and 2015 show.
Erdenet to buy more from domestic producers
The Ministry of Industry, which has announced 2016 will be the year of support for the domestic industrial sector, hosted, together with the President’s Office, a meeting on January 15 at Tuushin Hotel with producers, during which it signed a memorandum of cooperation with Erdenet Mining Corp.
