Ulaanbaatar
Mongolia Gold conference held for the third time
Economy
Ulaanbaatar /MONTSAME/ The third ‘Mongolia Gold’ conference was held under the theme ‘Advancing rehabilitation and increasing gold reserves’ on March 22-23. Over 400 foreign and domestic representatives attended the conference with 31 entities displaying their products.
Organizers of the event, Mongolian Gold Producers’ Association (MGPA) emphasized that the conference was aimed at introducing advanced technologies and world experience to Mongolia’s gold sector, attracting investment for placer gold projects, putting gold mining projects into economic circulation, expanding cooperation, developing gold exploration, increasing gold reserve and supply, advancing rehabilitation and deepening public–private partnership.
In his presentation titled ‘Current state of gold sector and facing obstacles’ Mr. S.Badarch, CEO of MGPA, noted that it is important to improve legal environment of the gold mining sector as the mining companies must obtain 31 types of documents to operate, which causes inconvenience.
Gold miners were interested in loans provided by the Development Bank of Mongolia (DBM) and issues related to them. Head of Project Financing and Credit Department of DBM Ch.Munkhbayar delivered presentation on the participation of the bank in the Gold-2 national program and answered questions of participants. He noted that DBM is interested in offering equipment leasing to the gold miners. Thus, the Investment management company, green development, infrastructure and mining funds were established at the bank. Within the framework of ‘Gold-2’ national program, the DBM plans to provide MNT 19.16 billion loans to gold miners in 2019.
A number of Chinese representatives were present at the conference this year. Vice President of China Gold Association Wang Shengbin delivered presentation titled ‘The new idea of gold mining of China’. He underlined that China has been consolidating the small-scaled gold mining companies in the recent years. Currently, mining operations are being held in 361 placer deposits, over 100 of which are open pit mining.
Representatives of ‘Jinyu gold materials corporation’ introduced their activities and delivered presentations as well. The company has over 10 mining companies and export mining equipment to through European countries. “We have gained a lot of experience in mineral resource development abroad. Therefore, we are interested in collaboration with Mongolian gold producers,” said Lu Shuzong, Manager of Trade Division of the Jinyu gold materials corporation.
