The 10 major tasks to carry out by the Ministry of Mining of Mongolia in 2014
Home pageThe 10 major tasks to carry out by the Ministry of Mining of Mongolia in 2014
The 10 major tasks to carry out by the Ministry of Mining of Mongolia in 2014
The regular monthly "Transparent Mining" press conference was held on May 28, 2014, where the Ministry of Mining of Mongolia introduced the works completed in geology, mining and oil sectors last month and the 10 major tasks to carry out in 2014. 
 
The 10 major tasks to carry out by the Ministry of Mining of Mongolia in 2014
 
1. To accelerate underground development of Oyu Tolgoi project.
 
2. To increase profitability and enhance competitiveness of Erdenes Tavan Tolgoi (ETT) in foreign markets by providing an opportunity to involve domestic and foreign investors' participation.
 
3. To implement a “SNG” project on synthetic gas release from a coal. By establishing a joint company to prepare Feasibility Study by August-mid of this year and to start the project construction works within 2014. The project financing estimates about 30 billion USD.
 
4. To select a location for an Oil Processing Plant and provide preparations.
 
5. To intensify works of four strategically important mineral deposits (Erdenes Tavan Tolgoi, Tsagaan Suvraga, Gachuurt and Asgat) to running into economic circulation in 2014.
 
6. To intensify Petroleum Authority’s activity, where several projects are enabled to implement following the ratification of Petroleum Law of Mongolia.
 
7. To complete programs on rare earth elements, fluorspar, coal, zinc, gold and other mixed metals. To commence copper smelter and steel plants in the frameworks of "Copper' and "Iron" programs with collaboration with other Ministries.
 
8. In the scope of amending the Law on Minerals, to recover 106 special licenses suspended and allocate relevant compensations to holders of these licenses for exploration expenses.
 
9. To accelerate geological mapping of 1:50,000 scale and determine minerals resources findings by setting in the budget an increased volume each year for this program.
 
10. The geology, mining and oil sectors require great amount of investment, thus it is in need to accelerate opening Minerals Stock that aims to develop Stock Market of Mongolia, which enables to raise fund for these sectors. 

       

May 29, 2014


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