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Speech

  • “Runaway public spending, authorised by politicians with their eye on the election, has been responsible for about half the11 per cent inflation. The central bank has been left to clean up the mess.”
  • “The supply contracts Australia lost have not been recovered, while Mongolia has managed to maintain them. Coal projections are off the charts. The question will be how Mongolia can capitalise on this without harming its other industries.”

    Oscar Mendoza, Chief Operating Officer of Frontier Securities LLC.

    “The economy is entering another spring.In the past two years, the country’s working population expanded the most in half a century.”

    S.Batbold, Prime Minister.
  • “It’s not Russian geopolitics. Maybe it’s Mongolian geopolitics.”

    Victor Samoilenko, Russia’s ambassador to Mongolia.


    “I am impressed by the progress of the development work taking place at UkhaaKhudag and see it is a great example of what Mongolians are capable of achieving in the free market environment. I feel most proud of the hard work and commitment of the thousands of Mongolians taking part in the project development. I also see that the government support has become increasingly important in accelerating successful projects and undertakings like the one we see here at UkhaaKhudag.”

    President Ts. Elbegdorj
  • “MPs are focusing too much on getting re-elected instead of settling the dispute over the law with the long name. Many companies have suffered major losses, without receiving any compensation. As long as their grievances are not addressed, we shall continue to oppose the law.”

    D. Damba, President of the Mongolian National Mining Association.

  • “It’s very challenging putting together a combination of American, Russian, Chinese, Mongolian, Korean and Japanese companies. It’s very challenging and potentially an uncomfortable marriage. It’s not quite a UN of companies but more of a Security Council, and the talks to date seem just as complicated and inefficient as anything to pass through either of those bodies.”
    Graeme Hancock, Chief Operating Officer, Erdenes Tavan Tolgoi.

  • “Is Mongolia the place to be, or is it Colombia? We vote Mongolia but mining companies have to make a decision based on certainty and stability.”

    Bernard Guarnera, president of Behre Dolbear.

  • “What we have achieved may not be perfect, economically or politically, as everything can be better if we had all the time in the world. But we have to develop Tavan Tolgoi quickly and we cannot afford to be held back by the populism of politicians.” S. Batbold, Prime Minister.

  • “The mining sector could very well carry Mongolia for the next 50 years.” Parmeshwar Ramlogan, IMF Resident Representative for Mongolia.

  • “Governments work on the principle of collective responsibility and thus there is no justification for demanding the  resignation of Mineral Resources Minister D.Zorigt for the perceived failure to protect national interests in the Oyu Tolgoi agreement.

  • “Unfortunately, the uranium joint venture is moving very slowly. We have already signed the final framework documents, which have yet to come into force. But it has been slightly delayed by procedural things on Mongolia’s part. We have signed an action plan, according to which the Mongolian side is required to compile a list of property and assets it is ready to contribute to the joint venture.”


    Sergei Kiriyenko, head of Russia’s state-owned Rosatom Corp.

Poll
Do you agree with increasing state participation in the Draft New Mining Law?
  • 1. Agree
  • 2. Disagree

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