Tap mining boom in Mongolia: President
The President, Ms Pratibha Patil, today asked Indian industry houses to exploit the vast opportunities in the mining sector in Mongolia, saying that the gold, copper and uranium reserves here hold much in store for them.“The mining boom that Mongolia is presently experiencing is predicted to make Mongolia’s economy the fastest growing in the world by 2013. The World Bank’s annual GDP growth rate projection for Mongolia in 2013 is 22.9 per cent,” Ms Patil said.
Surge in demand
“Such predictions, indeed, are staggering and Indian business must take due notice. Mongolia’s mineral wealth, including significant reserves of coal, copper, gold and uranium, offer investment opportunities for Indian companies,” she said.
“Implementation of these projects will generate significant demand for construction and mining equipment, as well as in such areas as power generation, water supply and rail transport. I would recommend the Indian business delegation to look closely at these opportunities,” Ms Patil stressed.
Defence, media tie-ups
The President, who is on a three-day visit of Mongolia, has inked several bilateral agreements, including ones on defence cooperation and media exchange. Ms Patil is the first Indian President to visit Mongolia in 23 years.
“We are impressed and applaud Mongolia’s decision to put forth for development three major flagship mining projects, namely the Oyu Tolgoi copper and gold deposit, the Tavan Tolgoi coking coal deposit and the uranium deposit at Dornod.”
Surge in demand
“Such predictions, indeed, are staggering and Indian business must take due notice. Mongolia’s mineral wealth, including significant reserves of coal, copper, gold and uranium, offer investment opportunities for Indian companies,” she said.
“Implementation of these projects will generate significant demand for construction and mining equipment, as well as in such areas as power generation, water supply and rail transport. I would recommend the Indian business delegation to look closely at these opportunities,” Ms Patil stressed.
Defence, media tie-ups
The President, who is on a three-day visit of Mongolia, has inked several bilateral agreements, including ones on defence cooperation and media exchange. Ms Patil is the first Indian President to visit Mongolia in 23 years.
“We are impressed and applaud Mongolia’s decision to put forth for development three major flagship mining projects, namely the Oyu Tolgoi copper and gold deposit, the Tavan Tolgoi coking coal deposit and the uranium deposit at Dornod.”
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