Ulaanbaatar /MONTSAME/ With a purpose to make the sector’s activity, policy and objectives open to public, D.Sumyabazar, Minister of Mining and Heavy Industry, planned to regularize a press conference titled ‘Transparent and accountable mining’ within the first week of every month. On November 1, the Ministry organized its first press conference.

As of September of 2017, gross production of industrial sector reached MNT 9,409.1 billion, with an increase of MNT 2,562.1 billion (37.4 percent) as compared with the same period of the previous year. Within the gross production, the production of mining and extractive industries reached MNT6,886.3 billion, with an increase of 2,088.2 billion (43.5 percent) against the same period of previous year.

About major commodities of mining and extractive industries: 36.2 million tons of coal, 960.0 thousand tons of copper concentrate, 14.8 tons of gold, 4.2 thousand tons of molybdenum concentrate, 5.9 million tons of iron ore, 2.7 million tons of iron ore concentrate, 71.8 thousand tons of fluorspar, 17.0 thousand tons of spar concentrate, 60.6 thousand tons of zinc concentrate and 104.2 tons of cathode copper.

As of nine months of the year, the sector accumulated MNT 1,075.4 billion to the state budget as taxes, fees and royalties. MNT 33.7 billion was accumulated from gold mining, MNT 388.3 billion--from coal, MNT 44.6 billion -- zinc, MNT 556.7 billion --copper, MNT 7.6 billion --iron, MNT 5.1 billion --fluorspar and MNT 39.4 billion from others.

Against the same period of the previous year, the income from major commodities increased by MNT 581.2 billion or 117.6 percent; incomes from gold extraction increased by MNT 7.3 billion (27.5 percent), coal -- by MNT 305.5 billion (368.7 percent), zinc --by MNT 21.0 billion (88.8 percent), copper--by MNT 222.9 billion (66.8 percent), fluorspar --by MNT 1.2 billion (30.6 percent) and others--by MNT 26.5 billion (206.6 percent), but the income from iron mining decreased by MNT 3.1 billion or 29.3 percent.

As of October 20, 2017, 1,789 exploration licenses, 1,395 mining licenses and 527 licenses of common spread minerals were registered at the Cadastre Registration System. 

According to the Minister that as of October 24, Mongolia has a 42-day reserve of oil products reserve for domestic needs. Paying a special attention on fuel supply and making the prices stable, the ministry is collaborating with the Finance Ministry to make a review with the International Monetary Fund to lower the previously agreed rate of excise duty on fuel, and postpone a term of commencement. 

It was planned to extract and export 8.4 million barrel or 1.1 million tons of oil in 2017. As of October 18, 6.04 million barrel or 821.9 thousand tons of crude oil have been exported to China.

The Mineral Reserves and Resources Classification System of Mongolia have registered reserves of 70 deposits that were discussed and approved at the meeting of Professional Council on Minerals in August, 2017.

The Minister also reported projects to be implemented in the heavy industry. The projects include construction of oil refinery, copper concentrate processing plant,’ construction of plant to produce synthetic gas and construction of metallurgy park in Darkhan and Selenge.

Published Date:2017-11-02