New Hope for Mongolia’s Tavan Tolgoi: Can This Time Be Different?
Mongolia is once again at a crossroads as it seeks to tap into its vast mineral wealth, with a particular focus on the coal reserves of Tavan Tolgoi. These reserves are crucial to the country’s export revenues and represent a significant opportunity for economic growth.
The government is taking steps to attract international expertise to help develop these resources. Erdenes Tavan Tolgoi (ETT), the state-owned company responsible for managing the Tavan Tolgoi coal deposits, is set to undergo changes aimed at improving transparency and efficiency. The Prime Minister has pledged to bring in international management and reduce the state’s involvement in the economy, as outlined in his latest four-year action plan.
This renewed focus on unlocking Mongolia’s mineral wealth comes at a time when the country is looking to diversify its economy and reduce its reliance on agriculture. With the right management and policies in place, Mongolia has the potential to harness the benefits of its natural resources and drive economic growth for years to come.
