According to the National Statistical Office of Mongolia, in the first 11 months of 2018, minerals exports reached USD 5.6 billion, increased by 23.9 percent from the same period of the previous year. Minerals exports accounted for 86.3 percent of total exports of Mongolia.

Coal export volume in the first 11 months was around 33.8 million tons, a y-o-y increase of 7.9%. In November, coal export revenue reached its lowest level in last two months to 2.46 million tons. The coal export revenue decreased by 38 percent from October. Export revenue increased by 24.1% to USD 2.6 billion.

In the first 11 months of 2018, copper concentrate export dropped a little and reached 1.3 million tons. The export revenue reached USD 1.8 billion, increasing 26.5 percent y-o-y.

In the first 11 months of 2018, 12 thousand tons of processed pure copper worth USD 76 million were exported, a y-o-y drop of 18.3 percent and 11.3 percent in terms of volume and value respectively.

Crude oil exports, the third main export commodity, reached 5.7 million barrels and earned USD 367 million, a y-o-y drop of 18.3% in terms of volume while income rose by 7.4%.

Iron ore exports reached 6.7 million tons and earned USD 307 million, a y-o-y rise of 20.6% and 8.2% in terms of volume and value respectively.

Export of zinc concentrate increased by 4.9% y-o-y and reached 113.8 thousand tons, and the USD 183.6 million revenue was up 11.6%.

Export volume of fluorspar increased by 75.4% y-o-y to 492.5 thousand tons, and revenue rose 2.3 times to reach USD 165.8 million.

The 3.4 tons of unrefined gold exported and the USD 144.5 million earned marked approximately 74 percent decrease y-o-y. In the first 11 months of 2018, the BoM’s gold purchases of 18.9 tons stayed at the same level. As of December 5, the Bank of Mongolia has purchased 19.8 tons of gold, a y-o-y increase of 3.2%.

Lead export reached 20.4 thousand tons, earning USD 50.7 million, 35.2% and 31.8% higher y-o-y respectively.

The 5.4 thousand tons of molybdenum exported was down 9.2% y-o-y, though the USD 31.7 million revenue was 31.7% higher.

Tungsten ore exports reached 701.6 tons and earned USD 7.4 million, a y-o-y drop of 28.8% and 3.4% y-o-y respectively.

Source: MongolianMiningJournal.com