Discover Mongolia 2018: Optimism in mining is dominant 1 hour 8...

Discover Mongolia 2018: Optimism in mining is dominant
1 hour 8 minutes ago


Discover Mongolia's 16th Annual General Meeting of Minerals and Mining Forum. The first presentation of the main meeting was submitted by the Minister of Environment and Tourism D.Sumyabazar and reported that it is working hard to bring the Tavan Tolgoi coal deposit into economic circulation, as well as informing the Chinese side of the Khanghi-Mandal railway to negotiate the deposit. Also, Oyu Tolgoi's power plant was announced by the company to grant a permit to build a mine.

The next report was quoted by Chief Executive Officer of Oyu Tolgoi, Armando Torres, explaining that only five years after the project began to export, the underground development has been successful.

The report "Mining Cycle and Mongolia" was presented by Vice Governor Weedley Widdy, Managing Director of "Lean Managers", a mining investment management firm. At present, the mining cycle is still in progress, but he still does not have enough investment in the industry. It is a great opportunity for investors to invest in exploration and development, as investors like Mongolia have been paying much attention.

Another interesting presentation was the Executive Director of "Erdenes Mongol" P.Gankhuu. The company plans to sell its subsidiaries, Shivee-Ovoo and Baganuur, to stock exchanges, and the steelmaking plant project is moving forward.



In addition to large companies, small companies are actively involved. This is particularly interesting for the newly emerging "Stepak river" company in the Mongolian gold industry. Also, companies such as Erdene Resources, Xanadu Mines and Kikorora Copper have been introduced to their prospects for a long time. The director of Aspire Mining Company, David Poll, is planning to raise additional capital from the Khuvsgul Ovoot coking coal project, saying that the company will be up to 30% of Mongolia's coal exports.

Today's MOU will be held within the framework of Government initiatives, including the National Resources and Mineral Exchange, "Erdenes Mongol Development" and the business development trend of "Erdenes Tavan Tolgoi". In conjunction with Regional Economic and Infrastructure Initiatives, the country's ambassadors will share their thoughts on how foreign conditions affect the mining sector.

Tomorrow's meeting will focus on mining sector tax, legal reforms, government support, local and environmental initiatives, investment and large companies.

The Minister of Industry said Mongolia's mining sector will have a leading role in economic growth over the next 20 to 30 years, and it is hard to deal with illegal mining companies.

The optimism of this year's "Discover Mongolia" is on the rise. This is largely due to the mining industry's tendency. But the parties emphasize that Mongolia needs to use this profitable period of time.



David “Poll”