ZCZC
BCN-18
MONGOLIA-COPPER-EARNING
Mongolia earns over 700 mln USD from exports of copper concentrates
ULAN BATOR, May 11, 2019 (BSS/Xinhua) – Mongolia earned 701.4 million U.S.
dollars from the exports of copper concentrates in the first four months of
this year, up 4 percent year-on-year, local media reported Friday, citing the
Mongolian Customs General Administration (MCGA).
The Asian country exported a total of 489,100 tons of copper concentrates
in the period between January and April in 2019, an increase of 30,500 tons
from the same period last year, the MCGA said in a statement.
Mining is the most important sector of Mongolia’s economy. The country is
rich in natural resources such as gold, silver, iron, coal, copper,
molybdenum, tungsten, phosphates, tin, nickel, zinc, and fluorspar.
The mining industry accounted for 72 percent of industrial output, 87
percent of total exports, 24 percent of the gross domestic product and 75
percent of foreign investment in 2018, according to the country’s Ministry of
Mining and Heavy Industry.
BSS/XINHUA/HR/1412