ID :
128240
Wed, 06/16/2010 - 15:46
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https://oananews.org//node/128240
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REUTERS INTERVIEWS AMBASSADOR
Ulaanbaatar, Mongolia, /MONTSAME/ In June 21-22 Sidney will host "Mongolia's mining Investors' forum", said the Ambassador of Mongolia to Australia H. E. Ts.Jambaldorj. It was sounded during the interview the Ambassador was giving to Reuters on Wednesday June 16.
Mr. Jambaldorj spoke about a state of affairs in Mongolia's mining and mineral resources sphere, its legal and tax environment, also focused on Oyutolgoi and Tavantolgoi deposits and the Australian investments.
"Mongolia is looking for foreign investors to help it boost domestic crude oil production tenfold in the next three years," the diplomat said. "The increase in crude production to 10 million barrels a year from one million in 2009 would coincide with construction of Mongolia's first oil refinery, enabling the land-locked country to reduce its dependence on neighbouring Russia for gasoline and other refined petroleum goods," the Ambassador told Reuters.
The move is the latest by Mongolia to exploit vast untapped natural resources with the help of billions of dollars in foreign capital as it seeks more economic autonomy from its neighbours. "Right now we export all our crude oil to China and are 100% dependent on Russia, and to a small degree on Kazakhstan and China for oil products," Jambaldorj said.
"We have a plan to build a refinery in Mongolia in order not to be dependent on imports," he told Reuters.
Mongolia sits on vast quantities of untapped mineral wealth and analysts say, the Reuters went on, that it could be one of the fastest growing economies of the next decade and a key investment target for global resources companies.
Foreign investors are watching to see if the country's fledgling democratic government can build needed infrastructure, improve the rule of law and negotiate its way through the geopolitical pressures exerted by Russia and China, the Reuters said.
The forum, first ever gathering of this type in Australia, will be organized by Mongolia's Embassy to Australia, the Australian "Mining journal" and is expected to attract that country's mining companies, banking and financial institutions, also Mongolian vice-minister of mineral resources B.Ariunsan, Foregn Investments agency's head B.Ganzorig, national mining Association president G.Damba and other officials and some 20 busines people.
The Reuters said that it will cover this forum.
D.Enkhbileg
Mr. Jambaldorj spoke about a state of affairs in Mongolia's mining and mineral resources sphere, its legal and tax environment, also focused on Oyutolgoi and Tavantolgoi deposits and the Australian investments.
"Mongolia is looking for foreign investors to help it boost domestic crude oil production tenfold in the next three years," the diplomat said. "The increase in crude production to 10 million barrels a year from one million in 2009 would coincide with construction of Mongolia's first oil refinery, enabling the land-locked country to reduce its dependence on neighbouring Russia for gasoline and other refined petroleum goods," the Ambassador told Reuters.
The move is the latest by Mongolia to exploit vast untapped natural resources with the help of billions of dollars in foreign capital as it seeks more economic autonomy from its neighbours. "Right now we export all our crude oil to China and are 100% dependent on Russia, and to a small degree on Kazakhstan and China for oil products," Jambaldorj said.
"We have a plan to build a refinery in Mongolia in order not to be dependent on imports," he told Reuters.
Mongolia sits on vast quantities of untapped mineral wealth and analysts say, the Reuters went on, that it could be one of the fastest growing economies of the next decade and a key investment target for global resources companies.
Foreign investors are watching to see if the country's fledgling democratic government can build needed infrastructure, improve the rule of law and negotiate its way through the geopolitical pressures exerted by Russia and China, the Reuters said.
The forum, first ever gathering of this type in Australia, will be organized by Mongolia's Embassy to Australia, the Australian "Mining journal" and is expected to attract that country's mining companies, banking and financial institutions, also Mongolian vice-minister of mineral resources B.Ariunsan, Foregn Investments agency's head B.Ganzorig, national mining Association president G.Damba and other officials and some 20 busines people.
The Reuters said that it will cover this forum.
D.Enkhbileg
