Overview of Extractive Industries in Mongolia

Mongolia's mining sector is a major contributor to the national economy. Major exports include copper, gold, molybdemum, coal, and fluorspar concentrates. The World Bank’s Mongolia Quarterly Report recently highlighted the challenges in the mining sector in Mongolia, noting that mining revenues are contributing to an increasing share of the national budget, and highlighting Mongolia’s vulnerability to fluctuations in world mineral prices. The implementation of the EITI is playing a key role in strengthening resource revenue management and transparency.

Status of EITI Implementation

The Government of Mongolia committed to implement EITI in December 2005.

Mongolia is an EITI candidate country, and has until 9 March 2010 to complete the validation process.

Mongolia issued its first EITI report in February, 2008, covering company payments and government receipts in 2006. The report is available on the Mongolia EITI website. The first EITI report identified a number of issues requiring further investigation, and identified priorities for strengthening reporting for the 2007 cycle.

Governance of EITI Implementation in Mongolia

A National Council coordinating and monitoring the Mongolia EITI, chaired by the Prime Minister, has been established, together with a Multi Stakeholder Working Group. Details on the composition of these groups is available on the Mongolia EITI website.

EITI Focal Point

Sh. Tsolmon
Coordinator
Secretariat of Mongolia Extractive Industries Transparency Initiative
E-Mail: eiti.secretariat.mn [at] gmail [dot] com

For further information, Samuel Bartlett at the EITI International Secretariat.