Recent news
First exploration licences by year-end
S.Bold-Erdene finds out from B.Baatartsogt, Head of the Department of Geological Policy at the Strategy and Policy Planning Authority in the Ministry of Mining, details about issuance of new exploration licences and about the modalities of selection of 106 special licences.
Project to study impact of mining on traditional livelihood
Work will start soon on a project under the Asia-Pacific Network for Global Change Research to examine if traditional livelihoods in Mongolia and mining can co-exist in a changing climate and how public-private partnerships in the country can be strengthened to reduce risk and address loss and damage.
Mining makes a rhino charge
Walk alone, like the rhinoceros,” enjoined the Buddha, but even with all their reverence for him, few Mongolians are likely to know much about this pachyderm, chosen by the Buddha as a role model because of its solitariness and focused existence, both of which he considered essential for spiritual enlightenment.
Mining sector contributes 18.5% to GDP in first half of year
According to figures released by the Mining Ministry, the mining sector was responsible for 18.5% of Mongolia’s GDP in the first six months of 2014. It also made up 66% of the industrial sector, 83.2% of total exports, 17.5% of the national budget and 81% of foreign direct investment.
OT plants saxaul trees to restore Gobi landscape
Oyu Tolgoi is shaping a new approach to rehabilitation, firmly focused on maintaining the ancient natural environment. The Mongolian Gobi has a dry and extreme climate and native plants such as the saxaul tree have adapted to the harsh conditions over generations.
Xi, Pu and the USD rate
The Development Bank of Mongolia was able to take a few deep breaths after the visit of the President of China, Xi Jinping. The reason was that the China Development Bank had agreed to lend it $162 million, repayable in 8 years at 6 per cent interest.
Conference brings Mongolia closer to clean coal
With prices falling globally and demand in China declining, coal miners in the country have had a rough time in recent years but even then, there is no argument about the continued importance of coal in the economy of Mongolia, and of its primacy as an export item.
MONGOLIA’S DILEMMA: should its loans be commercial or political?
The World Bank declared in 2012 that with a rise in its per capita GNI (Gross National Income) Mongolia had become a middle income country, leaving behind its place among those in the low income category. Along with this came an end to an era of loans and grants from international financial organisations and donor countries.
