World Bank Proposes Wider Mining Cooperation

Ulaanbaatar, September 21, 2026 /MONTSAME/. The World Bank has proposed expanding its cooperation with Mongolia on policy and legal reform, geological survey, infrastructure, investment, and value-added production in the mining and mineral resources sector.

According to the Ministry of Industry and Mineral Resources, the World Bank suggested developing a "Country Compact" for the mining sector as part of this expanded partnership. The document is not a contract or a memorandum of understanding and carries no legally binding obligations. Rather, it is intended as a declaration setting out the goals, priorities, timeline, and expected outcomes of the cooperation.

Damdinnyam Gongor, Minister of Industry and Mineral Resources, presented Mongolia's priorities in the meeting, highlighting the need to intensify geological and geophysical surveys, develop a unified national policy on strategically important minerals and land use, and establish an open, integrated platform for sector-related data.

For its part, the World Bank expressed readiness to draft and present a "Country Compact" proposal based on Mongolia's input and priorities.