Opportunity and difficulty coexist in Sino- Mongolian mining cooperation

(chinadaily.com.cn)

Updated: 2015-10-28

China and Mongolia reached eight cooperation agreements on mineral exploration ,worth over 30 million yuan ($4.73 million), at the first China-Mongolia Expo in Hohhot, Inner Mongolia autonomous region.

The?meeting on mineral resources exploration is held at the first China-Mongolia Expo on Oct 24 in Hohhot, Inner Mongolia autonomous region. [Photo/nmg.gov.cn]

For instance, Inner Mongolia Mining Group signed an overall plan on joint exploration of non-ferrous metal and unconventional gas with a Mongolian mining company.

The two groups will increase cooperation in mineral prospecting, mining, and infrastructure construction, according to Hao Shen, deputy director-general of Inner Mongolia Mining Group.

Chinese and Mongolian mining industries stepped up cooperation in recent years thanks to support from top authorities on both sides.

The joint declaration on establishing a comprehensive strategic partnership signed by Chinese and Mongolian heads in August 2014 mapped out cooperation in mineral exploration, infrastructure construction and financial cooperation. The cooperation mechanisms of both countries are being improved. A mineral resources and energy cooperation committee was established, said Peng Qiming, chief-engineer of the Ministry of Land and Resources.

Peng Qiming, chief-engineer of the Ministry of Land and Resources speaks at the meeting on Oct 24. [Photo/nmg.gov.cn]

In 2014, Sino-Mongolian trade volume totaled $7.3 billion, with mineral and livestock products the main exports from Mongolia.

However, mining cooperation is held back by the current international economic environment, infrastructure conditions and business costs.

Wang Bo, vice-chairman of Inner Mongolia addresses to the meeting. [Photo/nmg.gov.cn]

China and Mongolia set high value on mining as a driver for economic development. Pushing reforms, innovation, sustainable development and cooperation is a concern shared by both countries, said chief-engineer Peng.