The state’s gold and hard mineral reserves see an increase

Mongolia’s Minerals Council has reviewed reports on 24 alluvial gold reserves and four hard mineral reserves, the results of which have enriched the state’s reserve by 5.9 tons.

According to the Ministry of Mining and Heavy Industry, preparation for the announcement of a tender for a feasibility study for the opening of a gold refinery is on-going.

A working group consisting of representatives from the ministry and the Bank of Mongolia has conducted a survey on the establishment of a gold refinery and have presented their preliminary results.

In order to enrich gold and the state’s reserves, the gold reserve assessment is being implemented. Geo Text Impex was selected to conduct a reserve assessment next year in the central and eastern parts of Mongolia. In 2018, Development Bank of Mongolia allocated financing of 24.8 billion MNT to eight entities operating in gold production.

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