At the monthly press briefing ‘Transparent and Accountable Mining’, a report on 2019 statistical review of the mining sector was introduced.
The Implementing Agency of Mongolian Government Mineral Resources and Petroleum Authority informed that around MNT 335.1 billion of revenue is expected from oil sales and exploration and mining licenses to the state budget in 2020.
The total revenue is projected to be made up of MNT 266 billion as oil sales revenue, MNT 36 billion revenue from payment for mining and exploration licenses, MNT 5 billion as reimbursement for exploration costs with budget money and MNT 1 billion as other source of revenues. As of January 20, 2020, MNT 1.5 billion was paid to the state budget.
As of January 20, there are a total of 2789 active mineral exploration and mining licenses registered in Mongolia, covering 4.7 percent of the country’s territory and 59.1 percent of them or 1670 are mining licenses and 1119 are exploration licenses. During the past month, one license was issued anew.
The mining industry report also showed that the total trade turnover reached MNT 13.75 billion. The volume is increased by MNT 860 million or 6.7 percent compared to last year. A trade surplus was recorded with the volume of exports exceeded the imports by MNT 1.49 billion.