“Mining industry makes up 78.8% of export revenue”

 |  Written by MontaStudio  |  0

“Mining Mongolia-2016” exhibition opened Wednesday in the “Buyant-Ukhaa” complex, aiming to boost the mining industry, to introduce progressive techniques and technologies and to gain international experience.

The exhibition has gathered 120 enterprisers and companies, engaged in mining, from 15 countries including Mongolia, USA and China.

The mining industry of Mongolia accounts for 16.1% of the country’s GDP, 78.8% of the export revenue and 67.2% of the total output of industrial sector. Based on a parliament-adopted document on the state policy in the mineral sector, basic laws on the mining sector have been amended, said Mr Artag, the State Secretary of the Ministry of Mining, at the exhibition’s opening ceremony.

Large companies such as Oyu tolgoi, Erdenes MGL and Erdenes Tavantolgoi are presenting their actions and future goals. Oyu Tolgoi company earned last year 1.6 billion US dollars, reflecting a decline of 5.8 percent against 2014.

“Erdenes Tavantolgoi” company made up 29% of the total coal export of Mongolia in 2015. The company exported 4.2 million tons of coal, earning USD 114 million.

During the exhibition, which will last until this Friday, Oyu Tolgoi will present its procurement plan, while the “Wagner Asia”, “Sunny Group” and “United Belaz Machinery” will advertise their business.