Mongolia’s natural resources include coal, copper, silver, iron, phosphates, gold, uranium, and petroleum. From 2000-2003 copper and gold accounted for an average of 46% of total exports and 24% of GDP. It has an estimated 100 billion tonnes of coal reserves, the production of which has increased as China’s demand has risen.
Sources: IMF, RWI, US State gov
EITI status: compliant
Visit Mongolia’s EITI page
Mongolia produced its first EITI report in January. The ‘Publish What You Pay and Earn’ national coalition of NGOs highlighted concerns over major unexplained discrepancies in reported revenues and payments – the payments reported by companies exceeded the revenues reported by the government by approximately 97 billion tugrugs. An additional discrepancy of 25 billion tugrugs could not be explained by the audit report.