He stated that stability is important in Mongolia’s mining sector. He said Mongolia has abundant mineral resources like Kazakhstan, which has become one of the world’s leading mining countries over the past two decades by creating stability for investors.
The minister cited statistics showing that per capita GDP in Kazakhstan will soon reach USD 15,000. He said Kazakhstan is a good example for Mongolia to study. He noted that some African countries have not properly exploited their mineral resources, resulting in a so-called “curse.” He said Mongolia must take heed of those situations.
He said investors want stability in the mining sector because mining projects carry great risks, as well as great capital costs.
Investors at the forum also raised the stability issue, saying it was necessary for the future of Mongolia’s mining sector.