According to the preliminary results of 2019, the mining sector accounts for 25 percent of Mongolia’s GDP, 72 percent of industrial production and 90 percent of exports. The statistics were presented during the monthly press conference of the Ministry of Mining and Heavy Industry, Transparent and Responsible Mining. The report reveals that the mineral industry constitutes 24.5 percent of the total budget revenue in 2019. During the period, the budget revenue totaled around MNT 11.9 trillion, with an increase of MNT 1.9 trillion or 18.6 percent from a prior year. Of these, revenue from the mineral sector reached MNT 2.9 trillion, which is increased by MNT 590.7 billion or 25.4 percent compared to the same period of last year. In 2019, 50.83 million tons of coal, 1.26 million tons of copper concentrate, 16.25 tons of gold, 5,300 tons of molybdenum concentrate, 156,150 tons of fluorite ore, 47,490 tons of fluorspar concentrate, 8.57 million tons of iron ore, 3.39 million tons of iron ore concentrate and 83,090 tons of zinc concentrate were produced in the mining and extractive industry of Mongolia. The report also found that the total production of the mining and extractive sectors amounted to MNT 12.47 trillion, increasing by MNT 1.24 trillion or 11.1 percent since 2018. Coal exploration grew markedly, reaching MNT 1.15 trillion last year. The mining industry makes up 71.8 percent of the total output of industrial production.

Published Date:2020-01-23