Berlin meeting introduces state involvement in financing mining operations

How important was the recent meeting in Germany?

The Prime Minister had laid the groundwork during his European visit in March when he explored ways of cooperation in various sectors, including mining. A meeting to see how Mongolia and Germany could be partners in the mineral sector was then arranged in Berlin from June 8 to14. I led the Mongolian delegation which comprised 15 representatives from organizations like the Minerals Authority, Erdenes MGL, Darkhan Metallurgical Plant, Monrostsvetmet, Shariin Gol, and Baganuur LLM, as also N. Algaa from the Mongolian National Mining Association. Germany was represented by a high-power team led by the Minister of Trade and Economy.
Many business entities interested in investing in Mongolia were either in the team or came to attend the meeting. Bankers spoke on the modalities of such investment, on how best to provide financial aid to the Mongolian mining sector.

On our part we presented our projects, and a memorandum of agreement was signed. This was just a general agreement but is significant as it formalizes the concept of wide-ranging state-level bilateral cooperation between Mongolia and Germany in the minerals and mining sector. Until now, there had been no Government involvement in such cooperation which was discussed, arranged, and conducted between individual companies. All participants at the meeting agreed that State support would add an additional dimension to the situation.

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