Project Case Study
Mining is the nation’s hope for prosperity
Mining accounts for 88% of export earnings in a country that is still underdeveloped and suffering from a slowdown of the economy
It is important to develop the mining sector in a fair and sustainable way that will attract investors and govern mineral exploitation for the benefit of all Mongolians.
Preparing for an eventual increase in commodity prices and to build investor confidence and appetite for developing Mongolia’s mineral riches.
Our multi-faceted approach designed to prepare Mongolia
The results are robust, namely strengthened policy and regulation, greater collaboration between government, industry and civil society collaboration, contributing to an improved investment climate.
We have undertaken many activities under AMEP. For example, we supported the creation of Mongolia’s first online geodata catalogue so that it is transparent and accessible to anyone, directly benefiting current and prospective investors, supporting their investment decisions.
This catalogue of mineral resources earned the Geospatial World Excellence award in 2018.
We supported reform of the mineral valuation system to align the value of mining projects to international best practice and ensure proper returns to Mongolia.
There is still much to be done to improve the investment climate, but eventually this project will certainly contribute to a stronger economy and greater prosperity across Mongolian society.
A strategy for gold mining over the 10 years to 2025 to increase the potential for extraction
The program has been a first step in making Mongolia a more attractive country for mining and open for business to national and global companies. Early indications suggest that investors have become more favourable to working in Mongolia.
On the geological database indicator of the respected Fraser Institute’s annual mining survey, Mongolia moved from 36% to 75% favourable rating between 2016 and 2017.
Ease of investment has improved with the publication of geological metadata and the standardised mineral valuation methodology that eliminates disputes and uncertainty.