In framework of multilateral cooperation between the People’s Republic of Mongolia and the People’s Republic of Hungary, geological cooperation launched in 1959 and has been developed until 1990. Meanwhile, Hungarian geologists alone and with Mongolian counterparts run geological explorations and prepared reports for brown coal, construction material and tungsten steel deposits, of which resources have been estimated in Gobi-Altai, Bayankhongor, Sukhbaatar and Tuv provinces.
Geological collaborations of the two have been stagnant for a while because of particular historic reasons, however bilateral geological cooperation seems to develop as some Hungarian companies completed geophysical researches at the request of Mongolian companies.
During the first meeting of the Joint Commission of Economic cooperation between Mongolian and Hungarian Governments, held in Ulaanbaatar between December 7 and 9, 2005, it was agreed to hand over reports on results of geological exploration and researches completed by Hungarian geologists to Mongolian fellows.
And afterwards, in 2006 an agreement on exchanging geological reports, conducted by Hungarian geologists to Mongolian counterparts in Mongolia between 1959 and 1990, has been concluded between Geological Department of Minerals and Oil Authority and Mining and Geology Agency of Hungary in Budapest.
According to this agreement, 70 reports of Mining and Geology Agency of Hungary and 20 reports of MOA are being exchanged. Geological information center have prepared the reports to be submitted in a softcopy and proper permissions are provided by the Ministry of Industry and Commerce and National Archives. By exchanging these reports, geological and exploration fund shall be enriched and results of geological explorations could be accessible.