Mining Ministry Announces 10 Objectives for 2014

Jun 10 • Economy, Featured, Mining, News • 8774 Views • 1 Comment on Mining Ministry Announces 10 Objectives for 2014

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The Ministry of Mining announced 10 objectives for 2014 at its monthly “Transparent Mining’ press
conference held on May 28th, according to Info Mongolia. The objectives include:
1. Acceleration of underground development of Oyu Tolgoi project
2. Increase of profitability of state-owned Erdenes Tavan Tolgoi LLC and improvement of its
competitiveness by attracting investments to the company from local and international
markets—most likely with initial public offerings on stock exchanges of London, Hong Kong, and
3. Implementation of “Coal Gasification Project”, a joint project with China’s Sinopec Group with
an estimated value of US$30bn. The Ministry of mining plans to prepare the Feasibility Study by
mid- August of 2014 and start the construction works within 2014.
4. Selection of location for an Oil Processing plant.
5. Increase the production at Erdenes Tavan Tolgoi’s licensed deposits and launch production of
the Tsagaan Suvraga, Gachuurt and Asgat mines.
6. Intensification of activities of Petroleum Authorities.
7. Completion of the study on rare earth elements, fluorspar, coal, zinc, gold and other mixed
metals and start construction of copper smelter and steel plants.
8. Resolve litigation of suspended 106 exploration licenses.
9. Improvement of mining industry development with more extensive geological mapping
Strengthen the mining industry as a whole with greater participation of mining firms on the
stock exchange for fund raising.

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One Response to Mining Ministry Announces 10 Objectives for 2014

  1. Mick says:

    How can Mongolia’s Ministry of Mining say it wants to strengthen the mining industry on the stock exchanges based on the way it has treated Ivanhoe Mining and it’s successors (which was/is trading on the major Worlds Stock Markets when it was/is attempting to finance the construction in Mongolia of what would be one of the World’s largest mining operations and it’s production would increase Mongolia’s GDP BY approx. 30% or more.)

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