Mining suppliers underline challenges at the nation's biggest mining and oil expo
During the three-day Mongolia Mining 2016 International Mining & Oil Expo launched on Wednesday at Buyant Ukhaa Sports Palace, mining suppliers talked about challenges facing the nation’s mining sector. Authorities from the Ministry of Mining, Mongolian National Chamber of Commerce and Industry (MNCCI), Erdenes Mongol, and the expo organizing committee presented opening remarks after a traditional music performance by the State Morin Khuur Ensemble. On the first day of the expo, Erdenes Mongol, Erdenet Mining Corporation, Erdenes Tavan Tolgoi, and Shivee Ovoo gave presentations about their procurement policies, coal sector outlooks, and operational plans. The expo participants underlined that suppliers are facing challenges as the nation’s mining sector is slowing down. Sales Manager of Everdigm Mongolia M.Munkhzul said, “Prices for mining equipment rose, following the exchange rate increases of foreign currencies. This has a negative impact on mining equipment sales. Companies prefer renting equipment rather than purchasing.” M.Munkzul pointed out that there are over ten companies in addition to Everdigm Mongolia which offer mining equipment from South Korean conglomerate Doosan. During the second day of the expo, Oyu Tolgoi presented the company’s procurement policy, after which United Belaz Machinery LLC, Wagner Asia Equipment LLC, Sany Group, and Nipigormash introduced their company activities to the expo's visitors. The expo features 120 indoor and outdoor booths with exhibitors from 15 countries. The exhibitors are displaying and promoting products and services for heavy mining and construction machinery; spare parts; and equipment for drilling and processing factories, reclamation plants, mining camps, supply chains, and transportation. Today, representatives from the Mineral Resources Authority will speak about issuing licenses for gold deposits and other exploration projects. Afterwards, a seminar on Mongolian gold projects will take place, highlighting present and future potential of the gold sector. The closing ceremony of Mongolia Mining 2016 is being held at 2:30 p.m. today and the expo is being organized by Minex Mongolia, Expo Mongolia, and the International Expo Bureau of Mongolia with support from the Ministry of Mining, MNCCI, and the Mineral Resources Authority of Mongolia.