ABOUT MINING PRODUCTION IN FIRST TWO MONTHS

Ulaanbaatar /MONTSAME/ In the first two months of this year, the copper production reached 146.6 thousand tons, or the performance rate is 71.2%, and the molybdenum production--523.9 thousand tons or 108.2%. The Mining Minister D.Gankhuyag said it during the “Transparent Mining” monthly news conference Wednesday. The coal production reached 5.7 million tons or 44%. Since the beginning of 2014, Mongolia has extracted 3.6 million tons of coal and sold 3.6 million tons, of which 2.1 million tons has been exported. This shows an increase of 23% against the previous year, Mr Gankhuyag said, adding that the country intends to export 31.4 million tons of coal this year. Since adoption of the amendment to the mineral law, the Bank of Mongolia (BoM) received 1.320 kg gold. It was 506 kg in February of 2013, the Minister said. The iron extraction reached 340 thousand tons in the first two months of 2014, which is equivalent to 26.1% of the figures planned. Furthermore, the zinc production was 18.1 thousand tons or 123.9%, the size of oil production--1,020.4 thousand barrels or 104.6%. Thus, the tax revenue constitution reached 47.2 billion togrog or 163.8%, the Minister said.