Mongolia to increase its gold reserve - News.MN

Mongolia to increase its gold reserve

Old News! Published on: 2017.01.20

Mongolia to increase its gold reserve

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Г. Батмандах
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Mongolia plans to stock up on 150 tons of gold by 2020. Mongolia will continue the ‘Gold-2’ programme until 2020 as a means of recovering economic growth. As a part of the programme, gold mining will be increased by 2-3 tonnes annually. Mongolia is also expecting to generate MNT 33-59 billion in budget revenue from payments for accessing mineral resources.

Mongolia first implemented a ‘Gold’ Programme from 1992 to 2000. According to statistics, 2.6% of Gross Domestic Product came from gold mining and 9.1% from exports in 2015.

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