Gold industry forum taking place next week

Mongolian Economy

2017-03-13 09:27 GMT+8

The "Mongolia Gold 2017" investment forum will take place on March 17, with the aim of discussing a number of issues surrounding investment in the gold mining industry. Projects in the gold industry will also be introduced to investors in order to seek financing, create partnerships in gold mining and extraction projects and elevate the current level of business cooperation, bringing advanced technology, sharing experiences and promoting research.

It is expected that gold exports will be fluctuate between 15.8-40.0 tonnes, and export revenues of the gold sector is forecasted to reach USD 1.2 billion in 2020 and USD 1.6 billion in 2025. Revenues are expected to increase by 26.7 percent by 2020 and 68.4 percent by 2025 compared with 2015. The organisers of the forum noted that a great amount investment is needed to exploit gold mines on schedule. Thus, Mongolia needs to utilise financing sources, such as loans, bonds and other instruments to attract domestic and foreign investments to those large-scale gold projects.

Growing investment in extraction and exploration in the gold industry as well as sustainable growth of gold reserves is a result of a stable legal environment. Production and sales are expected to raise the output of gold by 20.0-47.7 tonnes to eventually reach 353.2 tonnes a year. 

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