MONGOLIA GOLD 2017 CONFERENCE TAKES PLACE IN ULAANBAATAR
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.