Mongolia’s National Mining Association and the British Embassy are collaborating to boost mining investments and geological surveys focusing on critical minerals. A recent discussion emphasized leveraging these resources amid rising global demand. Key stakeholders stress the need for a supportive legal environment and favorable conditions for investors to enhance economic stability and growth in the mining sector.
Mongolia’s National Mining Association, in collaboration with the British Embassy, held a discussion on February 13 to explore mining investment opportunities in the country. The meeting aimed to exchange insights and formulate an action plan to enhance collaboration in geological surveys and the exploration of critical minerals, in light of an increasing global demand for these resources.
As part of this initiative, Mongolia will partner with the British Geological Survey to conduct geological mapping and critical mineral surveys. This effort is driven by Mongolia’s strategic focus on maximizing the economic impact of its mineral resources while adapting government policies to foster sustainable cooperation.
Advisor to the Minister of Industry and Mineral Resources, J. Mendsaikhan, highlighted the importance of capitalizing on the global demand for critical minerals, which can positively influence Mongolia’s economy. Strengthening government policies is deemed essential for leveraging the country’s resources effectively.
Andy Batson, Deputy Head of State at the British Embassy, emphasized the continuous exchange of knowledge between the two nations’ geological surveys. He pointed out the significant role Mongolia plays in supplying critical minerals necessary for advancing clean energy initiatives and maintaining a sustainable mining supply chain.
Erdenetuya Ganbold, CEO of the Mongolian National Mining Association, stated that the mining sector is vital for social and economic growth. To foster economic stability, the intensity of exploration and geological surveys needs to increase, with all stakeholders collaborating effectively. She underlined the necessity for a favorable environment for investors and stressed the need for a stable legal framework to enhance foreign investment in the sector.
The cooperative efforts between Mongolia and the British Geological Survey seek to advance the geological exploration of critical minerals in response to rising global demand. By fostering sustainable practices and refining governmental policies, both countries aim to enhance mining investments, reflecting the sector’s importance to economic growth. Overall, these initiatives highlight Mongolia’s strategic position in the global market for critical minerals.
Original Source: akipress.com
