The 17th “Discover Mongolia”, one of biggest mining forums in the world will be held in Ulaanbaatar on 27 September. At least 500 officials and investors from around 10 countries, including China, Russia, Canada and Australia, are expected to attend the event.
Co-organized by the Mongolian Ministry of Mining and Heavy Industry, the Business Council of Mongolia and the Mongolian National Mining Association, the annual forum aims to present government policies on mining, discuss ways to solve issues facing investors and attract more investment. However, Mongolian government policy has become more uncertain as the cabinet has suspended 28 mining licenses in the last two months.
Mining is one of the main economic sectors of the inland Asian country. The sector single-handedly accounted for 87 percent of total exports, 72 percent of industrial output, 24 percent of the gross domestic product and 75 percent of foreign investment in 2018, according to the country’s Ministry of Mining and Heavy Industry.