Source link : https://asia-news.biz/asia/mongolia/mongolia-mining-growth-economic-uncertainty/
Mongolia continues to prioritize mining as a key driver of its economic growth despite facing significant uncertainty in the global and regional economic landscape. As demand for minerals remains volatile amid shifting trade dynamics and market fluctuations, the country is pressing ahead with efforts to expand its extractive industries. This strategy underscores Mongolia’s reliance on mining revenues to sustain development and navigate the challenges posed by external economic pressures, as highlighted in a recent analysis by the East Asia Forum.
Mongolia’s Mining Sector Drives Growth Despite Economic Challenges
Mongolia’s mining industry continues to be a cornerstone of the nation’s economic landscape, propelling growth even as global financial uncertainties loom large. The sector’s resilience owes much to sustained investments in coal, copper, and gold extraction, which collectively contribute over 20% of GDP and more than 80% of export revenues. Despite fluctuating commodity prices and pressures on foreign direct investment, miners have intensified efforts to boost efficiency and incorporate new technologies, fostering a more sustainable and competitive environment.
Government policies have aimed to balance extraction with environmental considerations, while fostering partnerships with international stakeholders. Key factors driving performance include:
- Expansion of infrastructure: Improved rail and road networks facilitate export capacity.
- Regulatory…
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Author : Ava Thompson
Publish date : 2025-07-27 09:00:00
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