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Mongolian Mineral Products and Issues of International Trade

Mongolian Mineral Products and Issues of International Trade The speedy growth of the Mongolian economy is inherently linked with the development of the mining sector. As a result of continued policies by the Mongolian Government to attract foreign direct investments, the volume of fdi in the mining sector has been increasing steadily. World-class mines of strategic importance, like Tavan Tolgoi and Oyu Tolgoi, have started operating with high rates of coal and copper production and export earnings. However, mineral products continue to be exported to the international market at a price lower than the international market price. In addition, Mongolia’s mineral products exports remain highly disorganised, the quality of mineral products is not meeting international standards, while transportation and logistics solutions to the third market are still insufficient. All of these pressing issues hinder Mongolia’s competitiveness in the international market. This paper argues for more research into those issues experienced in the mining sector and for the need to set up a mineral products exchange in Mongolia. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Inner Asia Brill

Mongolian Mineral Products and Issues of International Trade

Inner Asia , Volume 16 (2): 301 – Dec 10, 2014

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Publisher
Brill
Copyright
© Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1464-8172
eISSN
2210-5018
DOI
10.1163/22105018-12340020
Publisher site
See Article on Publisher Site

Abstract

The speedy growth of the Mongolian economy is inherently linked with the development of the mining sector. As a result of continued policies by the Mongolian Government to attract foreign direct investments, the volume of fdi in the mining sector has been increasing steadily. World-class mines of strategic importance, like Tavan Tolgoi and Oyu Tolgoi, have started operating with high rates of coal and copper production and export earnings. However, mineral products continue to be exported to the international market at a price lower than the international market price. In addition, Mongolia’s mineral products exports remain highly disorganised, the quality of mineral products is not meeting international standards, while transportation and logistics solutions to the third market are still insufficient. All of these pressing issues hinder Mongolia’s competitiveness in the international market. This paper argues for more research into those issues experienced in the mining sector and for the need to set up a mineral products exchange in Mongolia.

Journal

Inner AsiaBrill

Published: Dec 10, 2014

Keywords: minerals; mineral products exchange; metals trading; international commodity market

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