Ulaanbaatar
Mongolia to Conduct Geological Mapping and Surveys of Critical Minerals in Cooperation with the British Geological Survey
Economy
Ulaanbaatar, February 17, 2025 /MONTSAME/ On February 13, 2025, the Mongolian National Mining Association and the British Embassy jointly organized a discussion on “Mining Investment Opportunity in Mongolia” to exchange information and develop an action plan for further cooperation.
As raw
material consumption increases due to the impact of the energy transition in
the world, Mongolia focuses on geological surveys and exploration of critical minerals.
Therefore, during the event exploration of critical minerals in Mongolia and cooperation
with countries in geological surveys were discussed.
Mongolia
will conduct geological mapping and surveys of critical minerals in cooperation
with the British Geological Survey.
Advisor to
the Minister of Industry and Mineral Resources of Mongolia J. Mendsaikhan, emphasized,
“There is a high demand for critical minerals in many countries. If we properly
take this advantage, it will positively impact on the economy. Therefore, it is
necessary to properly direct the government policy for leveraging our resources and
developing mutually beneficial cooperation.”
"The mining sector plays a significant role in social and economic growth. To achieve economic stability and growth, exploration and geological surveys must be intensified and all the stakeholders including government agencies, local communities, and the public should be responsible and work together. In addition, investors should be provided with favorable conditions to operate actively. If we want to increase foreign investment in Mongolia, it is time to focus on ensuring the sustainable operation of existing investors. In addition, the legal environment must also be stable. We need to intensify and support the currently stalled exploration research with policies. We have issued exploration permits in various ways, such as through applications, tenders, and selection. We need to study which of these was more effective and should increase the number of licenses issued,” noted Chief Executive Officer of the Mongolian National Mining Association Erdenetuya Ganbold.
