Export Revenues Increased by Nine Percent Compared to the Previous Week

Ulaanbaatar, April 10, 2025 /MONTSAME/. The Working Group, in charge of intensifying exports and increasing foreign currency reserves, organized its fourth meeting and presented an update on Mongolia's export revenue, which increased by USD 237 million, or 9 percent, compared to the previous week.

Director of the Financial and Fiscal Research Department of the Ministry of Finance of Mongolia Zolboo Ganbold remarked, “The increase in export revenues was driven by a 26 percent rise in copper concentrate exports and a 4 percent increase in iron-ore exports. Meanwhile, the foreign currency reserves remain unchanged at USD 5.0 billion, the same level as last week.”

In addition, Chief Executive Officer of “Erdenes Mongol” LLC Narantsogt Sanjaa presented how state-owned mining companies are implementing the directives issued by the Government of Mongolia. CEO Narantsogt said, “We are focusing on increasing exports by USD 442.5 million and delaying certain major investment projects worth USD 137.2 million, aiming at generating a total of USD 580 million. Moreover, we are working towards attracting USD 220 million in project investments and securing USD 200 million in pre-financing under the ‘Green Loan’ initiative. In total, we are working towards increasing the foreign currency reserves by USD 1 billion.”

At the meeting, participants discussed several key issues, including the feasibility of trading low-grade coal and iron ore via the national commodity exchange, and establishing conditions for transportation through regional roads. It was decided that these matters would be submitted to the Cabinet of Mongolia for further consideration.