Mine

Second Agreement to Link Mongolia and China by Rail Approved After 70 Years On March 27, Parliament discussed and approved the draft Law on Ratification of the Agreement between the Government of Mongolia and the Government of the People’s Republic of China. This focuses on cooperation for the construction of the Gashuunsukhait-Gantsmod cross-border railway, boosting coal trade, and expanding the capacity of the Tavan Tolgoi coal mine.

MINING COMPANIES EMBRACE ADVANCED TECHNOLOGY IN OCCUPATIONAL HEALTH AND SAFETY TRAINING By A. Enkhbayar, Lecturer, Doctor, Professor, Department of Applied Mathematics, University of Applied Sciences, National University of Mongolia

MONGOLIA’S GEOLOGICAL SECTOR REQUIRES A UNIFIED MANAGEMENT SYSTEM Interview with the Director of the National Geological Survey, B. Munkhtur.

S. NARANTSOGT: THE LAW ON NATIONAL WEALTH FUND PLACES NO RESTRICTIONS ON INVESTMENTS Interview with S Narantsogt, Executive Director of Erdenes Mongol Group, on the newly approved Law on National Wealth Fund and its implications for foreign investment

COMPENSATING FOR COAL PRICE DECLINES THROUGH INCREASED EXPORT VOLUMES On September 17, the National Statistics Committee released social and economic data for the first eight months of 2024. The report indicated that exports from our country reached $10.6 billion, while imports totaled $7.5 billion. During this period, the foreign trade balance recorded a surplus of $3.1 billion, though this figure represents a decrease of $935.6 million compared to the same period last year.

Y. Otgonbayar appointed Deputy Director of Badrakh Energy Y. Otgonbayar served as Mongolia's ambassador to the United States from 2017 to 2022, retiring before the end of his term. He has also served as a Member of Parliament and Minister of Education, Culture, and Science.

Australia Pavilion & Session at Mongolia Mining Expo 2024 We are excited to invite you to the return of the Australia Pavilion at the Mongolia Mining Expo 2024, the premier event for Mongolia's mining and resources sector! Now in its 13th year, the Expo will take place from October 8 to October 10, 2024, at the Buyant Ukhaa Sport Palace in Ulaanbaatar.

Mineweek & Minepro 2024 The first session of Mining Week 2024, titled "Intersectoral Synergy and Future Trends," has successfully concluded. During this session, industry experts, policymakers, and key stakeholders discussed important policy issues impacting the mining sector.

G. Erdenetuya: The Future of the Next 30 Years Depends on Today's Policies and Management We spoke with G. Erdenetuya, Executive Director of the Mongolian National Mining Association, about the upcoming Mining Week x Minepro 2024 mining and supply conference, which will be held from October 2-5.

Why I’m positive about Mongolia’s future: Dr Battsengel Gotov ‘The new generation of industry personnel in Mongolia is increasingly fluent in the international language of mining’

Mongolia is set to announce its list of critical minerals this year Countries are formulating their mining sector policies. This entail decisions on the inclusion of specific minerals in their critical mineral lists that have emerged as essential components of national mining sector strategies. Professional organizations have been discussing the formulation of Mongolia’s policy d on the minerals to incorporate into the list and drafted initial proposals.

D. Amarbayasgalan: The government is prioritizing this project in Mongolia because of its significance in addressing geopolitical, economic, and energy-related issues The memorandum of understanding (MoU) for an investment agreement, facilitating uranium exploration in Mongolia, was signed by representatives of the French state-owned Orano Mining Company and the Mongolian state-owned Erdenes Mongolia during the Mongolian president’s official visit to France last October.

GOLD DEPOSITS THAT HERALD HOPE The price of gold on the world market has repeatedly reached new historical highs, signaling a promising period for the gold industry. Amidst the global Covid pandemic in 2020, countries closed their borders, and international trade ground to a halt. During this uncertain period, characterized by indefinite curfews and economic instability, Mongolia’s economy became particularly fragile and vulnerable.

Copper concentrate to be sold on the exchange market The production and export of Mongolia’s mining products contributes 27% of Mongolia’s GDP, and constitutes 71% of the industrial sector, 92% of export income, 77% of foreign direct investment, and 32% of the state budget income. While relying heavily on one sector isn’t ideal, these statistics highlight the mining sector’s crucial position as the primary driver of Mongolia’s economy now and in the foreseeable future.

THE MINGOMBA HIGH-GRADE COPPER DISCOVERY: WHERE HUMAN INTELLIGENCE MEETS ARTIFICIAL INTELLIGENCE In February of 2024, it was reported that Kobold Metals had characterized an ultra-high-grade copper deposit in Zambia, of similar grade and scale with the Kamoa-Kakula deposit

SUCCESSFUL AND EXPANDING COMMODITY EXCHANGE TRADING BOOSTS MONGOLIAN ECONOMY Mongolia successfully started trading its minerals on a Mining Products Exchange in 2023. Parliament approved the Law on Mining Products Exchange on December 23, 2022, and the law came into effect on June 30, 2023. Trial trading commenced six months earlier and preparations for iron ore and copper trading on the exchange are largely complete.

MONGOLIA PREPARES FOR THE NEXT STEP IN THE MINING INDUSTRY Mongolia has vast natural resources, is located in a very favorable geographical and geopolitical region, and can access major markets in Europe and Asia, So it has great potential for foreign direct investment (FDI) in the medium to long term.

Positive economic indicators as impact of coal In 2023, Mongolia traded with 163 countries, and the total trade turnover reached $24.4 billion. Of this, exports totaled $15.1 billion, and imports $9.2 billion, resulting in a surplus of $5.9 billion. Compared to the same period last year, exports increased by $2.6 billion (21.9%) and imports by $54.1 billion (6.3%), the National Statistics Office said.

THE MONGEOCAT SYSTEM HAS SIGNIFICANTLY IMPROVED THE ACCESSIBILITY AND QUALITY OF MONGOLIA’S GEOSCIENTIFIC DATA The Australia Mongolia Extractives Program is a donor funded program through the Government of Australia with the objective to support the Government of Mongolia to strengthen its extractive sector investment environment, through the development of collaborative partnerships between government, industry, and civil society.

AN ECONOMY DEPENDENT ON COAL Coal is the main source of our country’s export earnings. At the end of September, coal exports amounted to 47 million tons, and, by the end of the year, this figure may reach 52 million tons