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28/05/2024
Mining NewsUncategorized

MNT 20 billion invested in Mongolia's mining industry in 2016

More than 20 mining deposits were put into operation, 800 jobs were created and MNT 20 billion were invested in Mongolian mining sector in 2016, reports Go Go Mongolia citing the Ministry of Mining and Heavy Industry.

According to the state budget performance in 2016, 19 tons of gold, 33 million tons of coal, 7.5 million tons of iron ore, 1.1 million tons of oil and 200 thousand tons of fluorite are expected to be exported.

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The Ministry of Mining and Heavy Industry added that 1.4 million tons of copper concentrate, 4700 tons of molybdenum concentrate and 100 thousand tons of zinc concentrate will be produced and exported.

Ultimately, mining sector accounts for 85 percent of Mongolian exports, 63 percent of industrial products, 18 percent of GDP and one-fourth of national revenue.

source: m.akipress.com

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