Ulaanbaatar /MONTSAME/. Within the framework of the 100th anniversary of the establishment of the mining industry in Mongolia, the ‘Coal Mongolia-2022’ international coal trade, investment conference and exhibition kicked off today.

Co-organized by the Mongolian Coal Association and the China Coal Transport and Trade Association, the 2-day annual event brought together representatives of government organizations, NGOs, professional associations, and the private sector to discuss the ‘New Revival Policy’ in the coal sector, stakeholders, technological progress and innovation in the mining sector, and changes in the coal market.

In his video greetings to the attendants, Prime Minister of Mongolia L.Oyun-Erdene emphasized the necessity to work efficiently at a time when the demand for coal is increasing rapidly.

“Despite the many negative factors related to the border and customs, a number of practical works have been done in the mining sector. Specifically, Ganshuunsukhait border checkpoint is expected to be commissioned in a relatively short period of time. Shiveekhuren border checkpoint will be completed soon. Also, the commissioning of the Bichigt border checkpoint is estimated to accelerate the export of minerals to 25 million tons per year. In other words, the existing three export gateways will become five, and the export of our country will double. In addition, works are underway to put coal processing plant into operation within the framework of the ‘New Revival Policy’”, added the Prime Minister.

Minister of Mining and Heavy Industry J.Ganbaatar highlighted the need to promote the mining industry locally and ensure sustainable development. He then emphasized that he will put concrete efforts in the direction of ensuring coordination between sectors, attracting foreign investment in transportation and logistics, and giving a better understanding of the mining industry among citizens.

“Special attention will be paid to providing support for responsible mining, protecting the interests of foreign and domestic investors, and not blocking or obscuring the activities of the industry”, said the Minister.

Mongolia ranks 17th in the world in terms of coal production and has 15 coal-bearing basins, 307 licenses, 29 hard coal mines, and a total of 44 mines. There are statistics that the total reserves are 33.2 billion tons. Before the outbreak of the global pandemic in 2019, a record-high 51,128,600 tons of coal were mined in Mongolia. Last year, Mongolia accounted for 26 percent or 14 million tons of China’s import of 55 million tons of coal.

The mining sector accounts for 24 percent of Mongolia's GDP, 67 percent of the industrial sector, 76 percent of foreign direct investment, and 93 percent of exports. Last year, the mining sector contributed MNT 4,114.4 billion to the budget revenue or 29.6 percent.

The 10th edition of the international conference which is being organized under the theme ‘Revival Together’ will wrap up tomorrow.

The organizers of the event highlighted that the event is aimed at determining the next stage of development of the coal industry in Mongolia, increasing the industry’s economic impact, attracting investment in manufacturing projects, promoting corporate social responsibility, and improving coal export, trade, and transportation conditions.