In the first two months of 2016, revenue from minerals’ export amounted to 460 million USD, making up the largest portion of export revenue of the country, reports the State Registration and Statistics Agency. This is indicating 20 percent decrease compared to the same period of 2015.
In terms of volume, exports of copper concentrate, molybdenum ore and concentrate, and of refined copper increased. In other words, Oyu Tolgoi and Erdenet have enhanced the production and increased thus the output to global market. Sales of these two companies totaled to over 340 million USD, forming more than half of the mining export of Mongolia.
Nevertheless, the export volumes have decreased for other main mineral products, reflecting 35 percent decline in exported gold with the revenue dropped to 63.5 million USD. Revenue from iron ore export has shrunk by 65 percent to 16 million USD. Coal export volume was 1.4 million tons.