The 12th International Mining and Oil Expo "Mongolia Mining 2023" was held at the Buyant-Ukhaa Sports Palace on October 3-5, Montsame reports.

The Expo brought together mining, oil, and exploration companies, service and equipment suppliers, assessment and consulting companies, investors, and about 200 business organizations from China, Russia, Canada, Great Britain, Turkey, Australia, Belarus, Germany, Austria, the United States, Finland, Kazakhstan, South Korea and India.

The exhibitors displayed their products, services, and equipment. At the Expo were presented the strategy for increasing productivity of Erdenes Mongolia LLC, the purchase plan of Erdenes Tavan Tolgoi JSC, Erdenet Mining Corporation, and Oyutolgoi LLC, transparency and accountability in procurement and Komatsu machinery for open-pit mining.

India is participating in "Mongolia Mining 2023" as a business partner.

"Mining is the principal industrial activity in Mongolia. This sector alone accounts for three-quarters of the country's GDP. India has been actively participating in the Exhibition since 2019. This year many companies including oil and gas producers, representatives from the Ministry of Mining and Geology, and research institutes are taking part in this event. India launched construction of an oil refinery capable of processing 1.5 million tons of crude oil per year in Dornogobi province. The contract for the 4th stage of the construction was signed last week. Our cooperation will expand and contribute to the diversification of Mongolia's economy," Indian Ambassador to Mongolia Mohinder Pratap Singh said.

Seven companies from Australia are participating in the Expo.

"Mainly energy companies are taking part in the Expo from Australia. There are over sixty Australian companies engaged in the mining sector in Mongolia. Australia's mining industry faces similar challenges as the Mongolian mining sector. We try to introduce new innovations in the mining industry, develop solutions based on the environment, safety, and AI. In addition to supporting Australian exploration companies in Mongolia, we also support Mongolian mining professionals to be trained in Australia to exchange experience and work in the mining sector of Mongolia upon returning home country," Australian Ambassador to Mongolia Katie Smith said.

Battulga Tumurdash, the initiator of "Mongolia Mining 2023" and President of Minex Mongolia Ltd, emphasized that the Expo is taking place at a time when the mining industry is recovering after the pandemic and the economy is growing rapidly.

The development of the mining industry in Mongolia, global trends, procurement policies and plans of large businesses were discussed at the Expo. Mining professionals and experts exchanged views on issues of responsible mining, investment, and sustainable development and exchanged experiences with colleagues from other countries.