Support for gold mining companies - News.MN

Support for gold mining companies

Old News! Published on: 2015.07.29

Support for gold mining companies

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In 2014 Mongolian gold mining companies planned to extract 7.1 tons of gold; they produced significantly more – 11.4 tons. The Bank of Mongolia bought a total of 920 kilograms of gold last year. This year, the companies are planning to extract 10 tons of gold. So far this year, 3.6 tons of gold has been produced. Finance Minister J.Erdenebat, Mining Minister R.Jigjid, and Bank of Mongolia President N.Zoljargal are responsible for providing economical growth by improve the currency reserves and supporting the state budget balance. In this connection the Government has tasked Finance Minister J.Erdenebat to provide gold mining companies with MNT 256 billion at 9% loan rates through the commercial banks.

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