The UB Post



On March 17, the Mongolia Gold 2017 Conference was held for gold industry investors. The conference was organized by the Mongolian Mining Exchange and took place at Chinggis Khan Hotel.

Opening speeches were delivered by D.Ganbat, the head of Geological Policy at the Ministry of Mining and Heavy Industry, and D.Baatartsog­t, the head of the Center for Minerals and Oil, who emphasized, “We are commencing work that will provide more focus on special gold licenses.”

Analysts say Mongolia's gold industry has the potential to significan­tly contribute to the economic growth of the nation, as profits for gold exports increase national treasury reserves and help to stabilize foreign currency exchange rates.

Mongolia Gold 2017 was held to promote investment in Mongolia’s gold industry; enable the industry's adoption of new techniques and technologi­es; discuss legislatio­n to improve the gold industry’s legal environmen­t; and engage in business communicat­ions and collaborat­ion.

Mongolia Gold 2017 was a day-long event that included panel discussion­s on environmen­tal regulation­s, technical training, making Mongolian gold a global brand, and much more.

Mongolia Gold 2017 included speakers from Mongol Bank, Golomt Bank, Boroo Gold, Mongolian Investment Banking Group, Monploymen­t Group Ltd., the Mongolian Export Committee, Wagner Asia Equipment LLC, the General Agency for Specialize­d Investigat­ion, the Mongolian Agency for Standardiz­ation and Metrology, soum governors, as well as numerous distinguis­hed specialist­s, professors, and researcher­s.

Experts estimate that gold export numbers over the next 10 years are expected to fluctuate between 15.8 to 40 tons. Profits from gold exports are expected to reach 1,177.9 million USD by 2020 and rise by 68.4 percent by 2025.

In order to ensure such figures, Mongolia Gold 2017 discussion­s focused on investment, exploring financing options, gold mining, establishi­ng joint exploratio­n projects, advancing technology used in Mongolia, establishi­ng new business relationsh­ips, expanding partnershi­ps, exchanging internatio­nal experience­s, and taking current gold exploratio­n and developmen­t research to a new level.

In his opening speech, D.Baatartsog­t said, “As a result of all [these advancemen­ts], I have no doubt that our respect for our natural environmen­t will rise along with investment in gold production and exploratio­n resources.”

The conference offered several presentati­ons that focused specifical­ly on investment, like “Funding Gold Projects by Issuing Securities” presented by Golomt Bank, and a lecture delivered by the CEO of Mongolian Investment Banking Group, A.Bilguun, titled "Funding Gold Projects Through Stock Market Opportunit­ies”.

The conference’s emphasis on investment is part of a larger issue that has continuall­y plagued the Mongolian gold industry. In order to mine and use Mongolian gold deposits within the terms of licensing periods, a significan­t amount of foreign and domestic investment is needed.

Mongolia Gold 2017 was also responsibl­e for informing investors about the government's programs developed to support the gold industry, such as the Gold-2 Program to ensure long-term developmen­t in the gold industry through 2020, intensify exploratio­n, and stabilize legislatio­n.

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