Developing Mongolia’s Coal Industry

In the last two decades, with assistance and advice from various multi-lateral and bi-lateral donors, Mongolia has begun reforms to move from a centrally planned economy towards one with market characteristics. At the same time, geological surveys have shown it to hold vast reserves of coal, copper, gold, silver, uranium, molybdenum, iron, tin, nickel, zinc, tungsten, phosphates, fluorspar and some oil. The government of Mongolia recognises both that exploitation of its mineral wealth is essential if the economy is to grow and that it must establish a sustainable way forward if it is to avoid the problems that have affected several other resource rich developing countries in the past.

It has a strong vision of how the country should be developed, with an aim to establish major and long-lasting opportunities for Mongolia. The mining operations will need to meet all the environmental regulations and standards, so as to limit adverse impact on air quality, loss of water supplies and destruction of the fragile ecosystem. The government has declared that it will use the proceeds from mining activities to develop essential services. These need to include education and health care, as well as creating capable workers with equal access to opportunities to fill jobs in the mining and construction sectors. This will require a longer-term investment culture, with the prospect that the country can gain added value from its coal and other resources that will fulfill a crucial and beneficial role in the country’s overall development.

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