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The Oyu Tolgoi mine is in the South Gobi Desert of Mongolia, 80 kilometres (50 mi) north of Mongolia's border with the People's Republic of China, where the mined copper is expected to be shipped. [4] Oyu Tolgoi deposits contain an estimated 2.7 million tonnes of copper and 1.7 million ounces (48,000 kg) of gold. [6]
Its mining operations are a joint venture of Rio Tinto (a UK-based mining transnational), Ivanhoe Mines of Canada and the Mongolian government. As of 2010, the estimated cost of bringing the Oyu Tolgoi mine into production was US$4.6 billion, [13] making it (financially) the largest project in Mongolian history; [14] however, by 2013 costs had ...
Its mining operations are a joint venture of Rio Tinto (a UK-based mining transnational), Turquoise Hill and the Mongolian government. As of 2010, the estimated cost of bringing the Oyu Tolgoi mine into production was US$4.6 billion, [9] making it (financially) the largest project in Mongolian history; [10] however, by 2013 costs had increased ...
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The Erdenet Mining Corporation is one of the Mongolian state-owned enterprises and accounts for a majority of Mongolia's hard currency income. Erdenet mines 22.23 million tons of ore a year, producing 126,700 tons of copper and 1954 tons of molybdenum. [2] The mine accounts for 13.5% of Mongolia's GDP and 7% of its tax revenue. [3]
Mongolia joined the World Trade Organization (WTO) in 1997. The international donor community pledged over $300 million per year in the last Consultative Group Meeting, held in Ulaanbaatar in June 1999. Recently, the Mongolian economy has grown at a fast pace due to an increase in mining and Mongolia attained a GDP growth rate of 11.7% in 2013.
Parent department. Ministry of Mining and Heavy Industry of Mongolia. The Mineral Resources Authority of Mongolia ( MRAM) is an agency of the Government of Mongolia which is responsible for the mining and mineral industry of Mongolia. The mining industry accounts for 89% of Mongolia's exports and over 20% of the country's gross domestic product.
Website. Official Website. Mongolian Mining Corporation ( MMC) is a Mongolian coking coal producer listed in the Hong Kong Stock Exchange. It is the largest coal mining company in Mongolia, owning two coal mines located in the Gobi Desert, namely the Ukhaa Khudag mine and the Baruu Naran mine. [2]