Mining The Resources
Minding the future
Эрдсийг эрдэнэст
Ирээдүйг өндөр хөгжилд
Mongolia’s Prime Minister Luvsannamsrain Oyun-Erdene gave a detailed interview to the Mongolian National Broadcaster (MNB) last night on 19th February about policies implemented and activities planned during his two-year tenure as head of the cabinet. 
On February 14, the President of Mongolia, U. Khurelsukh worked in Zamyn-Uud soum of Dornogobi aimag. It is the main logistics center that handles about 70% of freight and 30% of passenger traffic across the state border and generates 15% of customs revenue. The expansion and modernization of Zamyn-Uud infrastructure is being carried out in cooperation with the People’s Republic of China.The construction of the logistics center’s buildings, facilities and infrastructure began in 2019, and are  91% complete.
The government has approved a temporary regulation for  the open electronic trade of coal for export. This will be effective until the “Law on Mineral Commodity Exchange” comes into force, i.e. until the end of June of this year. During this period, the government has assigned the electronic trading of coal through the Mongolian Stock Exchange, and the Financial Regulatory Commission has been  tasked with overseeing electronic trading.
Committee set up to help MONVAL Code secure international approval Given that revenue from mining is the mainstay of the Mongolian economy, it is important to create conditions that would help bring more investment in our exploration and extraction sectors, so that in time we have more mineral resources to export. One way to do this is to follow methods and processes consistent with the global best practice when putting a value on mineral deposits and mining operations. Investment in both exploration and extraction will come only when potential investors can be sure that the object of their interest has been reliably valuated, using internationally accepted methods and codes. Apart from bringing foreign investors into Mongolia, this would also help domestic companies place their assets in stock markets, both international and local.
Working on the road map to recovery The recently held Discover Mongolia International Mining Investors’ Forum was the 18th in an annual series, and the first since Mongolia had a new Parliament and Government, both committed to enabling and ensuring the return of foreign investment to the country. Despite the fact that the forum was this time held in the backdrop of the global economy – as also the individual economy of each and every country – struggling under the Covid-19 pandemic, participants and speakers kept their focus on the declared motto, “Mining: The Road to Recovery”. Taking a broad view, they discussed the likely policy of the newly elected Mongolian ruling set-up  on the economy and mining, possible countermeasures for the economic recession, the need for a policy shift to revive the exploration sector, the planned amendment to the
B. Dulguun: Electronic coal trading is piloted successfully The government has approved a temporary regulation for  the open electronic trade of coal for export. This will be effective until the “Law on Mineral Commodity Exchange” comes into force, i.e. until the end of June of this year. During this period, the government has assigned the electronic trading of coal through the Mongolian Stock Exchange, and the Financial Regulatory Commission has been  tasked with overseeing electronic trading.
ONE HUNDRED YEARS FILLED WITH PRIDE Mongolia’s mining industry is celebrating its centenary. 25 December each year is a day for celebration for the mining industry and miners. Following the victory of the People’s Revolution and the establishment of a new government, the country’s leaders, declared that underground resources were “the property of all the people”.
MMJ EDITORIAL