The Role of the State in Mongolia's Mining Sector / World Bank.

Format:

Book

Author/Creator:

World Bank, author, issuing body.

Language:

English

Subjects (All):

Mines and mineral resources--Mongolia.

Mines and mineral resources.

State, The.

Mongolia--Politics and government.

Mongolia.

Physical Description:

1 online resource

Place of Publication:

Washington DC : World Bank, 2021.

Summary:

Mining dominates the Mongolian economy, already accounting for some 80 percent of exports and contributing a quarter of gross domestic product (GDP). In July 2020, the newly elected government reaffirmed its commitment to bring into production more of Mongolia's mineral deposits and to process minerals locally instead of exporting them. Its objectives are to boost government revenues, retain more value in-country, and create conditions for more diversified economic growth in the future. Further commercial development of Mongolia's mineral resources, for which substantial financing will be required, faces several challenges. The challenges and opportunities identified confront the government as it seeks to advance mining sector "megaprojects." Careful consideration of the role that the government plays as owner of mineral resources is central to more optimal development of the mining sector and the government's approach to mobilizing finance. As recommended in the World Bank's Policy Notes(July 2020), the government may need to develop a more effective strategy to allocate scarce public funds and mobilize fresh private capital to support development of the mining sector. The purpose of this analysis is to prompt an open debate based on policy evidence derived from robust analysis of options and trade-offs that can lead to an actionable reform agenda.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/37298