Australia seeks cooperation with Mongolia in production of final mining products
The Australian Government is interested in expanding cooperation with Mongolia in the mining sector, especially in establishing and developing mining raw materials-based plants.
Chair of Subcommittee on Budget Expenditure Control, MP Narantuya received Ambassador Extraordinary and Plenipotentiary of Australia to Mongolia John Langtry at his request.
Mr. Ambassador said that the Australian Government is interested in expanding cooperation with Mongolia in the mining sector, especially in establishing and developing mining raw materials-based plants of manufacturing final products that have not yet developed in Mongolia. Furthermore, he introduced Cassandra Winzenried, Senior Economist at Efic, a major Australia's export finance agency. Efic, which invested USD 150 million in the Oyu Tolgoi project, have come to Mongolia in order to learn more about Mongolian economic condition and progress of their investment. MP Narantuya has informed of stabilizing general macroeconomic indicators of Mongolia and increasing in budget revenue and unaltered mining-dependent economy apart from certain outcomes of the Extended Fund Facility (EFF) program jointly implemented with the IMF.
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