Ulaanbaatar
Dominic Barton: Mongolia Should Be Ready for Global Energy Transition
Economy
Ulaanbaatar, July 10, 2023 /MONTSAME/. After the keynote speech of
the Deputy Prime Minister of Mongolia, Minister of Economy and Development Ch.
Khurelbaatar, Chairman of the Board of Directors of Rio Tinto Group Dominic
Barton delivered his speech as an honorable guest. At the beginning of the
speech, he expressed his heartfelt solidarity with Mongolians who are
struggling with the flood disaster in Ulaanbaatar, and mentioned that Oyutolgoi
Company is providing some assistance.
Mr. Dominic Barton noted that Mongolia's economy is growing and the GDP
has doubled in the past. "We are grateful for contributing to Mongolia's
economy by investing and increasing it," he said.
The
world situation is changing rapidly. A new type of globalization is taking
place and the focus is shifting to Asia. He pointed out that
there are advantages and great opportunities for Mongolia in this situation.
For example, due to global climate change, there is a strong energy transition
through the use of renewable,
and rare earth elements, and
diversification. He emphasized that Mongolia, which has huge energy reserves,
should be ready for this.
He
said that there is a future of mineral resources, and all these factors led Rio Tinto to Mongolia. There are skilled personnel and labor force here, which is
the main factor of our development, and London is proudly aware
of it. Therefore, he announced that
Oyutolgoi will soon become the 4th largest copper mine in the world, and today
we are discussing what we will do for this.
"In his
speech the Deputy Prime Minister of
Mongolia Ch. Khurelbaatar explained the future trend of the development of Mongolia very well. Mongolia formulated
its development policy in "Vision 2050." Chairman of the Board of Directors of Rio Tinto
Group Dominic Barton expressed his full confidence in its implementation and satisfaction
over
their contribution to the implementation of
Mongolia's development roadmap.
