Mongolia earns over 700 million USD from exports of copper concentratesChristian Fernsby ▼ | May 10, 2019
Mongolia earned 701.4 million U.S. dollars from the exports of copper concentrates in the first four months of this year, up 4 percent year-on-year, local media reported Friday, citing the Mongolian Customs General Administration (MCGA).
Asia Mining is the most important sector of Mongolia's economy
Mining is the most important sector of Mongolia's economy. The country is rich in natural resources such as gold, silver, iron, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, and fluorspar.
The mining industry accounted for 72 percent of industrial output, 87 percent of total exports, 24 percent of the gross domestic product and 75 percent of foreign investment in 2018, according to the country's Ministry of Mining and Heavy Industry. ■