G. Erdenetuya: The Future of the Next 30 Years Depends on Today's Policies and Management

Mining Week x Minepro 2024

B.ARIUNAA

We spoke with G. Erdenetuya, Executive Director of the Mongolian National Mining Association, about the upcoming Mining Week x Minepro 2024 mining and supply conference, which will be held from October 2-5.

What distinguishes this year's Mining Week from previous years’ conferences? Are Discover Mongolia, MineTech, and other successful conferences and exhibitions being combined?

This year, our goal is to ensure equal participation for all mining and mineral resources companies. The mineral resources sector influences many other sectors, including consulting services, exploration, development, mining, closure, supply, investment, and local small and medium businesses. Therefore, we strive to involve representatives from all these areas.

Another key feature is the participation of all relevant stakeholders, including government and private sector organizations, civil society, non-governmental organizations, and citizens. Over the past 20 years, the Mongolian National Mining Association (MNMA) has successfully organized the Discover Mongolia project, which played a crucial role in attracting and activating investments from third countries. MineTech was a significant event for the supply chain. This conference is being held because both the organizers and participants have agreed that it is better to organize a conference under one roof to get a comprehensive view, rather than holding separate events. MNMA is committed to the development and localization of responsible mining practices according to international standards.

What do you see as the outcome of this event?

At a time when investor confidence has declined, we are recognizing the opportunities presented by critical minerals, energy recovery, and green development. How we leverage these opportunities to advance the mineral sector to the next stage of development is a crucial issue. Mongolia’s economy currently relies on a few key mining projects.

Over the past 30 years of transitioning to a market economy, the mining sector has been a major driver of political, social, and economic changes. The sector's future over the next 30 years will hinge on effective policies, a stable legal environment, a conducive investment climate, and the ability to forge reliable partnerships. Adopting international best practices has demonstrated how successful investment attraction can lead to stable operations.

The future trajectory of the mining sector over the next 30 years largely hinges on the policies and management practices we implement today.

"In other words, a country’s economic growth can be driven by leveraging key sectors that contribute positively to the economy. Conversely, past experiences have demonstrated that mistakes can result in significant losses and impede development for decades. Therefore, it is crucial to establish effective policies for the mineral resources sector and develop Mongolia’s strategies at a professional level during this critical transition period.

Many foreign and domestic organizations, including embassies and financial institutions based in Mongolia, are registering in large numbers to participate in this conference.

This year’s conference is not just a brief meeting but aims to explore how to enhance the industry’s economic impact, support SMEs, local and national businesses, and ensure the stability of companies that supply essential equipment to the industry. We intend to organize it on a broad scale, emphasizing the importance of stakeholder participation.

For example, we plan to bolster investments in the mining industry by organizing a dedicated investment day for newly operating mines. Both foreign and domestic financial institutions will participate, offering discounted credit terms to small and medium-sized enterprises as well as national companies. We anticipate that this initiative will yield tangible results in terms of actual investments and acquisitions.

The expo is being organized with high expectations for fostering real and sustainable activities and generating substantial job opportunities.

Human resources pose a challenge across all industries. I hope another outcome of this conference will be the development of the next generation of engineers.

Indeed. The Mongolian National Mining Association has initiated the Future Engineer program, which will be implemented on a wide scale this year. We have signed cooperation agreements with universities/schools that train mining professionals. Schools participating in that program will collaborate with us during the Mining Week x Minepro 2024 conference.

Within the framework of the Future Engineer program, we need to evaluate whether the current supply of skilled personnel meets industry demand. We hope the conference will address these issues and prompt effective policy actions. What legislative reforms are needed for critical minerals? What are the views of researchers, personnel trainers, and companies in this sector? We anticipate fruitful discussions and policy changes resulting from the conference.