Ulaanbaatar
Minister Ts.Dashdorj: Income from mining to be devoted for processing industry
Economy | Mining
Ulaanbaatar /MONTSAME/ The mining sector will be a motivation for processing industry through the devotion of mining income for other sectors, in other words, the economy will be diversified, highlighted Minister of Mining and Heavy Industry Ts.Dashdorj. An open day of geology, mining and heavy industry sector is being held on 14-15 June at the Sukhbaatar Square, activities of the Ministry, its agencies, departments and state-owned companies being reported and requested information is being delivered to the public.
“- The mining sector is important in repayment of foreign loans borrowed by the Government. Therefore, we planned to realize several large scale works targeting at putting big mines into economic circulation and reviving the economy. For example, we are working to solve all in complex way, including developments of coal mining at Tavan Tolgoi mine, coal selling, Tavan Tolgoi railway and power plant as well as of the South Gobi region. We need foreign investment in mining and heavy industry sector. For that, legal environment for the sector and investors' protection should be improved” Minister Ts.Dashdorj said.
The mining sector makes up for 86 per cent of exports and one-fourth of the state budget. Due attention is being paid to utilize 20 per cent of the country’s territory for mining, settle illegal mining and bring charges of accountability to companies for their negative environmental impacts, noted officials.
“- The mining sector is important in repayment of foreign loans borrowed by the Government. Therefore, we planned to realize several large scale works targeting at putting big mines into economic circulation and reviving the economy. For example, we are working to solve all in complex way, including developments of coal mining at Tavan Tolgoi mine, coal selling, Tavan Tolgoi railway and power plant as well as of the South Gobi region. We need foreign investment in mining and heavy industry sector. For that, legal environment for the sector and investors' protection should be improved” Minister Ts.Dashdorj said.
The mining sector makes up for 86 per cent of exports and one-fourth of the state budget. Due attention is being paid to utilize 20 per cent of the country’s territory for mining, settle illegal mining and bring charges of accountability to companies for their negative environmental impacts, noted officials.
B.Ooluun
