Mongolia’s economy can lead the charge to net-zero and help other countries move from fossil fuels to clean energy if swift action is taken to tap its rare earth deposits.

Ambitious global climate policies and a shift towards renewable energies are driving an escalating demand for resources like rare earth elements and other metals, crucial for renewable energy technologies. However, the steady supply of these critical minerals remains uncertain.

This creates a significant opportunity for Mongolia, which has an economy highly dependent on natural resource extraction. Mining currently accounts for about one-quarter of gross domestic product, predominantly from exports of coal, copper, and iron ore. Its mineral wealth is valued at $1 trillion–$3 trillion, including copper, fluorspar, gold, iron, tungsten, uranium, and zinc (as well as coal and oil).

How can Mongolia develop a competitive, environmentally sustainable export-oriented mining industry that can provide sustainable livelihoods to locals and fuel for the global race to net-zero?

First, we need to know where those rare earth elements are located in Mongolia’s vast geography. Most of the geological surveys undertaken so far are electromagnetic at a scale of 1:200 kilometers, which is insufficient to attract investors to spend millions of dollars on drilling holes in the earth’s crust in the hope of hitting mineral veins. Geological surveys need to be undertaken with much finer granularity, and for that, we need investments.

Which leads us to the next issue: Suitable investment frameworks. License fees for exploration were previously too high and deterred potential international investors. Even the transfer of a license from one company to another was taxed extensively. However, a new investment law addresses such issues from the past and puts Mongolia on the path to becoming more attractive to investors. This is an important step forward and shows Mongolia’s commitment to attracting investment.

Mongolia shows that there is an opportunity for countries to accelerate economic growth and sustainable development if they develop industries that provide services, technologies, and resources that help advance the global transition to low emission technologies.

The third ingredient for success is processing capacity, as rare earth minerals in many instances require a first stage processing prior to export. Such capacity is rare just like the elements, and currently concentrated in just a handful of countries globally. Strengthening local knowledge and technical capacity is therefore critical.

A new research partnership with the Republic of Korea can start to lead the way together with the Ministry of Mining and Heavy Industries, while the Ministry of Economy and Development is creating a new policy research institution to be launched in 2024, which can help look at relevant policy and enabling environments that are conducive to catalyzing investments into the sector. A commodity exchange can also help steer the market towards climate-smart mining.

Fourth, the rare earth minerals have to be exported. One possible option is to follow the case of uranium, where France has an off-take agreement with the People’s Republic of China. Under this agreement, the People’s Republic of China purchases uranium from Mongolia, transports it through its own country and sells it to France. Another option would be to look at airborne transport, which can be economically viable for some of the more costly rare earth minerals.

Most importantly, however, there has to be a good relationship with local communities, accompanied by comprehensive environmental and social frameworks that avoid unsustainable water use and pollution by mining activities, ensure that local communities benefit from mining income, including for education, health programs, and sustainable livelihoods, and that revenues are processed in a transparent manner. Involving multilateral and non-government organizations can be helpful in this regard, to ensure the application of internationally accepted safeguards.

Mongolia shows that there is an opportunity for countries to accelerate economic growth and sustainable development if they develop industries that provide services, technologies, and resources that help advance the global transition to low emission technologies. While intensifying climate change wreaks havoc on economies and livelihoods that are battered by extreme weather events, change can also have economic ‘upsides’ for those who plan ahead.

This blog post was based on research conducted for the technical assistance project, Mongolia: Climate-Smart Mining for a New Climate Economy.

BY Dustin S. Schinn

Climate Change Specialist, ADB Climate Change and Sustainable Development Department

Mongolia ranked 47th out of 81 countries in the PISA 2022 assessment. Among the six countries participating for the first time, Mongolia secured first place. In mathematics, the average score of the Organisation for Economic Co-operation and Development (OECD) was 472, while the Asian average stood at 451. Mongolia’s average mathematics score was 425, 2.3 years behind the international average and 1.2 years behind the Asian standard.

The PISA assessment reveals an international average score of 476 in reading, with an Asian average of 427. Mongolia, ranking 65th, scored 378 points, falling 5 years behind the global average and 2.5 years behind the Asian average.

In natural sciences, the international average score is 485, the Asian average score is 449, and Mongolia’s average score is 412, ranking 53rd. Science test results showed Mongolia is three years behind the international average and 1.8 years behind the Asian average.

Mongolia has participated in the PISA for the first time. A sample of 7,300 students from 196 schools across the country took part in a computer-based assessment of math, reading, and science skills.

PISA is the OECD’s Programme for International Student Assessment. PISA assesses the extent to which 15-year-old students near the end of their compulsory education have acquired the knowledge and skills that are essential for full participation in modern societies.

The executive committee members of the Mongolian Sports Press Union have recreated the iconic boxing ring photo that represents the birth of the International Sports Press Association in 1924.

To achieve this, they had a memorable photoshoot in the ring during the recent Mongolian Boxing National Championships to kick off the 100 years anniversary of AIPS in the country. It was a similar scenario as the famous photo of the first executive committee of AIPS at the founding Congress in Paris in 1924.

Former MSPU presidents, Jugder Otgontsagaan aka Oto and Chultem Otgonbaatar aka Sato, attended the photo shoot alongside the current president Byambaa Tsagaanbaatar, secretary general Dorjsuren Batjargal, vice president Chuluunbaatar Ganbat and the director of MNB Sport channel Badamdorj Lkhagvasuren.

The Mongolian Boxing National Championships in Ulaanbaatar was an event to select boxers that will represent the country at the 1st World Olympic Boxing Qualifying Event which will be held in Busto Arsizio, Italy from February 29, 2024.

"PUBG Mobile Global Championship 2023" is being held in Istanbul, Turkey.

The "Grand Final" stage, where 16 of the world's best teams played, lasted three days and ended yesterday. Three Mongolian teams played in the final, and the "IHC Esports" team won.

The teams played a total of 18 maps over the course of three days, and "IHC Esports" won the championship with 142 points, while "Stalwart Esports" of Mongolia took second place with 138 points, and "4Merical Vibes" took 4th place with 127 points. Zyol or B.Zolboot of the "IHC Esports" team was selected as the MVP of the final.

The tournament boasted a huge prize pool of USD 3,000,000. As for the Mongolian teams, the 31st place NB Esports team received USD 28,000, the 4th place "4Merical Vibes" received USD 144,000, the 2nd place "Stalwart Esports" received USD 263,000, and the champion "IHC Esports" received USD 453,000.

A forecast surplus of copper going into 2024 has suddenly all but disappeared.

The next couple of years were supposed to be a time of plenty for copper, thanks to a series of big new projects starting up around the world. The expectation across most of the industry was for a comfortable surplus before the market tightens again later this decade, when surging demand for electric vehicles and renewable energy infrastructure is expected to collide with a lack of new mines.

Instead the mining industry has highlighted how vulnerable supply can be — whether due to political and social opposition, the difficulty of developing new operations, or simply the day-to-day challenge of pulling rocks up from deep beneath the earth.

In the past two weeks, one of the world’s biggest copper mines was ordered to close in the face of fierce public protests, while a slew of operational setbacks has forced one of the leading miners to slash its production forecasts.

The sudden removal of around 600,000 tons of expected supply would move the market from a large expected surplus into balance, or even a deficit, analysts say. And it’s also a major warning for the future: copper is an essential metal needed to decarbonize the global economy, which means mining companies will play a key role in facilitating the shift to green energy.

While the price reaction to the supply disruptions has so far been muted — amidst ongoing worries about China’s property sector — any sign of demand recovery would hit a tight market.

Last week, Panama’s government formally ordered First Quantum Minerals Ltd. to end all operations at its $10 billion copper mine in the country. The order followed weeks of protests and political wrangling that came to a head when the country’s Supreme Court invalidated the law that underpinned its mining license. The giant Cobre Panama can produce about 400,000 tons of copper a year.

As the market was digesting the news that one of the biggest mines was closing (at least for now), Anglo American Plc delivered its own production bombshell on Friday with the announcement that it will slash production from its flagship copper business in South America.

While problems at its platinum and iron ore mines in South Africa were well publicized, the copper cuts caught investors off guard, sending the company’s shares plunging by 19%. Anglo has reduced its copper production target for next year by about 200,000 tons, essentially removing the equivalent of a large copper mine from global supply. Production will fall even further in 2025.

BMO Capital Markets, which was forecasting a large surplus of refined copper next year, now sees a small deficit instead. Goldman Sachs Group Inc. — which has been much more bullish on copper and already forecast a deficit of refined metal for 2024, now sees that shortfall ballooning to more than half a million tons. Jefferies also now expects a major deficit next year.

“The supply cuts reinforce our view that the copper market is entering a period of much clearer tightening,” Goldman analysts including Nicholas Snowdon said.

The expectation for a looser market in the near term has weighed on prices for much of this year, leaving copper drifting sideways. In early October, the International Copper Study Group said it expects a surplus of 467,000 tons next year — its largest forecast for a glut since 2014.

Live copper inventories on the London Metal Exchange had surged since mid-year to a two-year high, but have now retreated for three straight weeks.

“Disruptions have significantly increased, and a market deficit is now increasingly likely,” said Jefferies. “We could be at the foothills of the next copper cycle.”

(By Thomas Biesheuvel)

In commemoration of Mongolia and the United Kingdom’s 60th anniversary of diplomatic relations, The Diplomat’s Bolor Lkhaajav spoke with U.K. Ambassador to Mongolia Fiona Blyth. Blyth discussed Mongolia-U.K. diplomatic relations, as well as Britain’s contribution in strengthening Mongolia’s democracy, governance, and civil society. She also emphasized the U.K.’s strong support for Mongolia’s women, peace, and security agenda and the momentum for energy transition.

This year marks the 60th anniversary of Mongolia-U.K. diplomatic engagement. As a newly appointed ambassador, how do you foresee the next chapter of the bilateral relations? Also, where does Mongolia stand in terms of the U.K.’s Indo-Pacific Strategy?

First, it’s an incredible privilege to be appointed as ambassador to Mongolia this year. It is an important year for our bilateral relationship, and it is a year that we are reflecting on our history together. For me, as an ambassador, it is natural that I will look to the future, to develop our modern partnership for the next chapter.

I think the relationship has moved a long way in the last 60 years, and that there is a forward momentum to our partnership. During this period, we’ve grown closer together in terms of our shared values in open economies, democratic values, upholding human rights, and – at large – how we engage the world in a wide range of foreign policy relationships. I think these are a really strong basis for our partnership for the next chapter. I really hope that we can continue to move closer together.

The Indo-Pacific strategy is an exciting area of the U.K.’s foreign policy. You’re right that a number of other countries have also recognized the potential of the region and are doing a lot more there. Geographically, Mongolia has a foot in a number of regions. And I think that that’s a benefit. Mongolia has synergies with Central Asia and a lot of links in Northeast Asia. And there is a lot that’s in the Indo-Pacific region that also applies to Mongolia.

The U.K.’s strategy supports an open, stable, and peaceful region. All these goals can apply to Mongolia. The U.K. will support Mongolia’s open approach to foreign relations and its economy. We would support Mongolia to maintain that stability and to continue to navigate through an increasingly contested world. Mongolia has centuries of experience of navigating great power competition. I think there is a lot to learn from Mongolia. We want the world and the region to be peaceful.

Mongolia has shown incredible leadership across a whole range of issues. We can mention biodiversity, climate issues, feminist foreign policy, peacekeeping contributions, and culture. I think all these areas show Mongolia’s natural leadership. And if the U.K. can support Mongolia to take its place on the global stage, then fantastic.

What are some of the U.K. activities in Mongolia that support strengthening the country’s democracy, parliamentary governance, and civil society?

The U.K. is one of the world’s oldest democracies, and it has a lot of experience in navigating parliamentary procedure and a democracy that is ever evolving. You probably know that we don’t have a written constitution in the U.K. It’s all done on precedent. So, our democracy has evolved over the centuries. Mongolia is also evolving. It’s only been 30 years. There is a lot that’s been achieved.

The U.K. and Mongolia organize a number of exchanges between our parliaments but also parliamentary officials. But this is not to say that Mongolia has to do it our way, either. It’s more [a case] of sharing experience and what has worked for the U.K. These exchanges, in return, support Mongolia’s democratic evolution, which can strengthen the Mongolian parliament to figure out how they can make the institution work to the benefit of the Mongolian people. We support the ways in which the parliament can create the procedures and the processes and put in place all of the different checks and balances.

In civil society, engagement with the voters is a really important part of democracy. Democracy is an ongoing dialogue between the voters and their representatives. Thus, civil society engagement is an area that is very important to the U.K.

Since arriving here, I have been getting to know the civil society landscape in Mongolia, meeting different people, and hearing different perspectives. But in 2024, we will establish a bit more systemic engagement through a forum or mechanism that provides advice, feedback, and views.

Ulaanbaatar’s air pollution has become a major public health issue. The increase of respiratory diseases, and brain tumors are just two examples. London in the 1950s-60s experienced the “The Great Smog.” What feasible lessons can Mongolia learn from it?

Because I just returned from London, I haven’t quite felt the air pollution just yet. There is no arguing that the earthly population needs to tackle air pollution and climate change. In the 1960s, we eliminated coal-fired power stations in the city’s center.

For Ulaanbaatar, this is a huge challenge. Not only is it the coldest capital in the world, but you also have coal-fired power stations that provide not only electricity but also heating. The grid itself – look how much work it needs to be done. The distances you’re trying to cover – I’m not trying to minimize this.

At the same time, I believe that this is the time to transition. There is so much support available to countries that want to transition their energy. It doesn’t even have to be British expertise. There’s so much global expertise and knowledge right now. These coal-fired power stations are not going to last forever but are going to become increasingly expensive to maintain, both for the planet and in actual fiscal terms. Why not get out ahead of it and seize the moment when there’s so much global support available? This would be a huge win for Mongolia and its population.

What are some of the renewable energy investments of the U.K. in Mongolia right now? Your predecessor, Ambassador Philip Malone, mentioned the legal environment and transparency as challenges for U.K. investors. Has this changed at all?

The U.K. has made some small investments in solar plants in Gobi. I’d like to point out that the energy transition will require commitment from both government and the private sector. Mongolia has enormous potential for renewable energy; the wind corridor, sunshine, and hydro capacity are there. We need to have a political climate and regulatory system where companies are invited and feel protected to invest in Mongolia.

The question is how we get them here to invest and bring their modern technologies. The U.K. can offer specific expertise such as battery storage. We’ve got the research design and innovation technology that would be great to share with Mongolia. Once the government has set the policy direction and wants to invite businesses, Mongolia will be the investment destination.

In terms of investment challenges, there has been some progress, such as the investment law making its way through the parliament, and there have been a number of transparency initiatives, including the revised mining law. Newer mechanisms such as online tenders and digital services are important steps towards transparency. But there’s absolutely no doubt that these are issues that the government needs to address.

Another issue is dispute resolution. Contracts don’t always go well. Projects don’t always work out. We need to be able to create a space for companies to come and try, to take new and bold steps; with the knowledge and confidence that if certain things don’t work out, they will be able to have a fair hearing and be able to protect their investors. Most of the fear pertains to the reassurance process, regulations, and the fear of sudden changes in legislation. Companies need consistency to project forward and set investments.

On the point about Mongolian businesses in the U.K., while cashmere can be a major market, fintech is one area that I’m excited to build. London is a major financial hub, and our collaboration in fintech focuses on “borderless exports.” We are working with a couple of companies to move their operation to the U.K. I’m very excited about it and hope to see more of that cause. This would be a great area of modern partnership for us.

Mongolia has been actively pursuing feminist foreign policy, which includes women, peace, and security agendas. As a British Army officer, how do you see the two countries’ defense relations evolving in the next decade? In which areas the two governments are looking to collaborate?

Women, peace, and security are things I care deeply about. I was really excited that we had the first visit of James Heappey, the U.K. defense minister, in September. He announced the expansion of the Royal College of Defense Studies to include Mongolian cadets at the Royal Military Academy Center. Moreover, the U.K., being a member of the United Nations Security Council, we are very respectful of Mongolia’s enormous contribution to global peace and security. The minister also mentioned the U.K.’s continued support in training Mongolian forces in skill and language development so that Mongolia continues to expand its role in the UN Peacekeeping operations around the world.

Given the magnitude of events around the world today, what do you think Mongolia’s biggest challenge is for the next decade?

I think the biggest challenge for Mongolia is to stay true to its values. Mongolia took a bold step in 1990 to set out the kind of country that it wants to be, and that is a choice only for Mongolia. It’s not a choice for the U.K. It’s not a choice for other third neighbors or Mongolia’s eternal neighbors. It is a choice for Mongolia to stay true to those values, staying clear and keeping a very clear sense of allowing Mongolia to make its own choices and protecting those choices.

Considering current events around the world, I think it is going to be an increasingly challenging, contested world. Mongolia needs to be clear of what’s its national interest and protect its rights, make its own choices, and not be pushed around by anyone.

During your time as ambassador, is there a project close to your heart that you’d like to get done?

I have a long list of things that I hope to achieve, but what is inspiring for me as an ambassador is to see how [the Mongolian] foreign minister has championed female global leadership. We can see it across a number of realms; the Female Foreign Ministers’ Meeting in Ulaanbaatar is just one example.

Minister for Culture Nomin Chinbat, too. She is someone who is doing an incredible job of positioning Mongolia on the global stage. Mongolia’s outward-facing approach goes beyond the realm of foreign policy. It goes into education and culture and shapes how the world views Mongolia.

During my time as an ambassador, I really hope that we can strengthen the Mongolia-U.K. partnership in education. I find it very inspirational that the minister of education has set a clear goal of closing the gap between rural and urban education. He wants to expand English language programs, raise teachers’ capacities, and create opportunities for modern-age learning with digital tools. We will explore how we are going to collaborate on that.

Education is life-changing, especially for those of us who don’t come from very wealthy backgrounds. It’s a way that we can advance in the world, expand our horizons, travel, and meet new people. It opens so many doors. The education sector is something that I am deeply passionate about, and I am looking forward to putting quite a lot of energy into it during my time here.

What is one thing that surprised you about Mongolian society when you arrived here?

The thing that most surprised me was how fashion-forward and cool young Mongolians were. It’s not about the money or a brand either; it’s a great sense of style; they look pretty put together and create a cool vibe. Also, I wasn’t expecting so many cool venues for social events. The contrast between that kind of beautiful, empty, undisturbed country and a very fun, stylish, forward-looking, cool society is truly amazing.

BY

Bolor Lkhaajav

Bolor Lkhaajav is a researcher specializing in Mongolia, China, Russia, Japan, East Asia, and the Americas. She holds an M.A. in Asia-Pacific Studies from the University of San Francisco.

Journalist Naran Unurtsetseg, the editor-in-chief of the Mongolian news website Zarig.mn, was arrested on December 4 on charges of contempt of court and spreading false information. The International Federation of Journalists (IFJ) and its Mongolian affiliate, the Confederation of Mongolian Journalists (CMJ), call for the immediate release of the journalist and criticise efforts to silence and block the online publication.

Journalist Naran Unurtsetseg, the editor-in-chief of the Mongolian news website Zarig.mn, was arrested on December 4. Credit: Facebook

Unurtsetseg’s arrest on December 4 was witnessed by Mongolian media workers in the editorial office of Zarig.mn in Ulaanbaatar, the capitol city of Mongolia. The editor was allegedly charged with contempt of court and “spreading false information” under Article 13.14 of the Criminal Code of Mongolia after posting an on her personal Facebook account about the inhumanity of a prolonging court hearing involving an elderly individual in Mongolia.

A court hearing in the Songinokhairkhan District court from December 1 to 4, approved the prosecutor’s proposal to detain Unurtsetseg for one month. Earlier, on November 29, the Criminal Court of First Instance of Chingeltei District also approveda proposal to take preventive measures to restrict Unurtsetseg from leaving Mongolia. Additionally, a legal and administrative body in Mongolia imposed a block on the access to the zarig.mn website within Mongolian territories, and added the website of zarig.mn to the list of illegal domain names, according to a joint statement released by The Media Council and Globe International Centre.

In response to the curtailing of the editor and its online portal, Unurtsetseg and journalists from Zarig.mn held a sit-in protest at Sukhbaatar Square on December 1. The CMJ said after it submitted demands to the Regulatory Commission of Communications, the Ministry of Digital Development and Communications, the National Police Agency, and the Prosecutor General’s Office of Mongolia, the zarig.mn website was subsequently unblocked on December 4.

Unurtsetseg has been variously pursued for her journalism work in recent years and faced 12 defamation charges in 2019, followed by four in 2020 – all initiated by politicians mentioned in her reporting. Despite successfully beating most of the cases, Unurtsetseg still faces a fine of around US$800, roughly the equivalent to two months' salary for the average journalist in Mongolia.

On December 8, Unurtsetseg's lawyers attended a hearing and appealed to the court for the journalist’s release due to unjustified detention. They also raised concerns that some legal provisions may have been violated during the investigation, and that the case's investigation was deliberately accelerated.

Media activists advise that law enforcement agencies and authorities in Mongolia were using Article 13.14 of the Criminal Code to restrict journalists’ capacity to perform their professional duties by investigating and charging them with crimes under the code. Article 13.14, which addresses the spreading of false information and stipulates penalties such as fines or public service, came into effect on January 10, 2020. Since then, numerous journalists have faced accusations of crimes.

CMJ reports that approximately 10 journalists are currently under investigation, including Unurtsetseg; Uranchimeg, of asu.mn), and A. Bayarmaa, of tas.mn; as well as the journalist and founder of Zarig.mn, J. Battul. The latter is part of the “Uncensored Team” program which is currently investigating and reporting onthe Foreign Investment Law in Mongolia and its possible revision. Battul has faced complaints from the Member of Parliament, Minister Ch. Khurelbaatar.

The CMJ said: “The blocking of access to the zarig.mn website within Mongolian territories is clearly a violation of the principles and norms of professional journalism and press freedom. The suspension of the editorial office and the sealing off of the company, while only investigating an individual who leads the company of a crime, is an intervention to press freedom and the civil right to know.”

The IFJ said:“The IFJ urges the Mongolian authorities to release Unurtsetseg immediately, allow journalists in Mongolia to perform their work without interference, and ensure the press freedom and the freedom of speech is upheld.”

Mongolia ranked 88th out of 167 countries in the Legatum Prosperity Index 2023. The country has moved up the rankings table by 10 places since 2011.

Mongolia performs most strongly in Social Capital and Personal Freedom but is weakest in Natural Environment. The biggest improvement compared to a decade ago came in Social Capital.

The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute. The ranking is based on a variety of factors including wealth, economic growth, education, health, personal well-being, and quality of life.

Kyrgyzstan ranked 94th in the Prosperity Index, Kazakhstan 69th, Tajikistan 113th, Turkmenistan 107th, and Uzbekistan 100th.

The study notes that Afghanistan (161st) has seen the largest increase in conflict-related deaths over the past decade. Similar figures are found in South Sudan, which is in last place.

Denmark, Sweden, Norway, Finland and Switzerland are in the lead of the rankings.

The 3rd political consultations between the Ministry of Foreign Affairs of Mongolia and the Ministry of Foreign Affairs of Kuwait were held online on December 5, the UB Post reports.

The consultation meeting was co-chaired by State Secretary of the Ministry of Foreign Affairs of Mongolia N. Ankhbayar and Assistant Foreign Minister for Asian Affairs of Ministry of Foreign Affairs of Kuwait Sameeh Essa Johar Hayat.

During the meeting, the parties assessed the current state of relations between the two countries and discussed the short- and medium-term goals.

The sides agreed to sign Intergovernmental Agreement on Air Communication to form the legal basis for direct flights to expand cooperation in the tourism sector and facilitate the conditions of mutual travel. They also agreed to finalize cooperation road map that will bring the level of relations between Mongolia and Kuwait to comprehensive partnership soon.

State Secretary of the Ministry of Foreign Affairs N. Ankhbayar briefly introduced the current political and economic situation in Mongolia and expressed his satisfaction with the development of friendly relations between the two countries. He also emphasized the importance of further developing cooperation in the fields of trade, economy, investment, and agriculture, and organizing mutual visits and events.

The parties also exchanged views on the process of starting the export of meat and meat products from Mongolia to Gulf countries, including Kuwait.

Assistant Foreign Minister for Asian Affairs of Ministry of Foreign Affairs of Kuwait Sameeh Essa Johar Hayat mentioned that the relations and cooperation between the two countries can be expanded and developed in all possible fields of mutual benefit, including the possibility of implementing joint projects and programs.

Mongolia signed a declaration with other countries in favour of the development of nuclear power to reduce greenhouse gases. This is one of the country's latest initiatives to promote its domestic mining industry, which represents an important part of the country’s economy. This will require a reassessment of relations with Russia.

At COP28, more than 20 nations agreed to a declaration to triple nuclear energy capacity, stressing the key role nuclear power can play in achieving zero global greenhouse gas emissions by 2050.

Supporters include countries like the United States and France, which already have nuclear power plants, but also countries such as Mongolia.

The growing support for nuclear power is no surprise. Despite its risks, it is considered a non-negligible solution for the decarbonisation of those sectors defined as hard to abate, such as heavy industry, shipping, and aviation.

Mongolia's support for the declaration is just one of the latest actions it has taken in favour of nuclear power, which requires important uranium reserves, which it has.

Uranium mining would come on top of extracting other minerals that are essential for the energy transition (like copper) and an important base for the country's economy.

According to the World Bank, the mining sector made up a quarter of Mongolia's gross domestic product (GDP) in 2021 and 80 per cent of its exports.

Under Prime Minister Luvsannamsrain Oyun-Erdene, the sector promises to become one of the pillars for Mongolia’s post-COVID-19 economic recovery.

So far, 10 uranium deposits have been discovered in the country with about 160,000 tonnes; this would place the country first in Asia and 12th in the world in terms of output.

Although mining has not yet started, such quantities could ensure not only the development of Mongolia’s own nuclear power industry (crucial for a country that still gets 80 per cent of its energy from coal burning), but could also place the Asian country in an internationally strategic position.

Partly because of the coup d'état in Niger that is forcing Europe to diversify its uranium supplies, other countries had already shown interest in Mongolia.

In October, France and Mongolia signed a US$ 1.7 billion deal that would see French state-owned Orano operate the Zuuvch-Ovoo mine in southwestern Mongolia. The project will begin next year with production expected by 2028.

However, by opening its resource sector to international players, Mongolia may find itself at odds with Russia, which begun the exploration of the first Mongolian deposits in the 1950s when the country was still within the Soviet sphere of influence.

Since then, Russian companies have played a leading role in Mongolia. Russian scientists have trained Mongolian scientists on nuclear development, while in the 1980s and 1990s the Soviet Union, then Russia was the main buyer of Mongolian uranium. Today, not even China has agreements with Mongolia to mine the metal.