MONGOLIA PRODUCES 300 MILLION TONS OF COAL WITHIN 40 YEARS

Ulaanbaatar /MONTSAME/ Mongolia has produced some 300 million tons of coal in the last 40 years. In the last 10 years, Mongolia has produced 220 million tons of coal and exported 84 million tons. Since 1993, Mongolia’s gold production reached 200 tons, 89 percent of which or 178 tons was produced in the last ten years. Between 1995-1969, Mongolia produced crude oil of 540 thousand tons in the deposits at Zuunbayan and Tsagaan Els. Since 1997, however, the oil production has revived, exploring some 2.4 million tons of oil or 81.7 percent of all time production during that period. Within the same period, Mongolia has exported 2.3 million tons of oil to China. Mongolia has recently increased its production in mineral and oil sector at a rapid pace, experts highlight. However, the dropping price of the two main minerals of the country at the global market creates some challenges for Mongolia’s economy.