• In recent years, demand for meat products has risen sharply because of the rapid development of the mining sector, which now accounts for 90% of Mongolia’s gross industrial product, and employs 60,000 people. All mining companies would like to see their workers consume meat and other food products of assured quality, and so the forthcoming Healthy Food-Healthy Mongolian campaign for better quality meat products would get a big boost if the mining sector is to become part of it. 
  • The US-China “trade war” has hurt Mongolia, too, in that our southern neighbour’s demand for coking coal has fallen. However, many analysts feel China will not have to reduce its steel output drastically, and based on that optimism, the market has been showing some positive signs, though this maybe more short-term than is good for Mongolian exports.
  • Foreign trade turnover reached $6.3 billion at the half-year mark, according to the National Statistics Office, with exports of $3.6 billion and imports of $2.7 billion. The three figures show a 26%, 15.3% and 43.4% YoY increase respectively. Foreign trade surplus fell 30.4% YoY to stand at $822.2 million.
  • The 7.9 million tonnes of coal exported in the first quarter was 2.62% less than in the corresponding period last year, but things have begun to look up as exports for March, the last month in that quarter, showed an increase of 7.8% YoY. This is according to the Mineral Resources and Petroleum Authority of Mongolia. The rise in March was even more welcome as the drop in February had been worrisomely big, with just 1.27 million tonnes exported. The volume in March was 170% more.
  • According to data revealed by the National Statistics Office, Mongolia’s exports in the first two months of 2018 were valued at $838.4 million, while imports stood at $726 million, taking total trade turnover to $1.6 billion, which is 18.9% or $248.1 million more than the corresponding figure in the previous year.
  • Shanxi province in Central China has 55 percent of the total coking coal reserves in the country and produces 40.74 percent of the country’s coking coal -- the raw material to produce coke – but even then it now looks set to become a major purchaser of Mongolian coking coal, as Shanxi’s coking industry is being expanded in a big way.
  • As noted by the International Energy Agency (IEA) coal supplies a third of all energy used worldwide and makes up 40% of electricity generation, as well as playing a crucial role in industries such as iron and steel.  Coal is also very important for Mongolia, as it is one of Mongolia’s major exports.
  • The National Statistical Office reports that foreign trade turnover at the end of July reached $5.9 billion, showing an YoY increase of 33.9% or $1.5 billion. In the same period, exports increased by 38.5% or $979 million to stand at $3.5 billion, while imports rose by 27.5% or $504 million and reached $2.3 billion. The foreign trade balance grew 67% YoY, and showed a surplus of $1.2 billion.
  • Figures revealed by the National Statistics Office show that foreign trade turnover in the first quarter of 2017 reached $2.76 billion, the highest amount for the first quarter in the past 5 years. Export revenue reached $1.3 billion, a 35% increase on a YoY basis, and also the highest first quarter earning ever, largely due to the fivefold increase in coal export earnings.
  • In 2010-2011, Mongolian economy had been hungry for investment. At that time we were excited about mega projects like Tavantolgoi, railway project, Sainshand industrial complex, all together were estimated for  MNT17 trillion and  we were hoping to raise money by issuing international bond and get loan as fast as we could.
| 1 2 3 4 | Next
Do you agree with increasing state participation in the Draft New Mining Law?
  • 1. Agree
  • 2. Disagree



1 month
Copyright © 2014 Mongolian Mining Journal