Mongolia Mongolia

EITI Status

EITI Status: 
Compliant country

Compliant since

Compliant since: 
19 October 2010

Extractive Industries

Mongolia's mining sector is a major contributor to the national economy: in 2012 it represented 18% of GDP and 67% of GIP. Major exports include copper, gold, molybdemum, coal and fluorspar concentrates. The Oyu Tolgoi copper and gold project is expected to account for one third of GDP by 2020. EITI implementation plays a key role in strengthening resource revenue management and transparency.

EITI Reporting

The country produces EITI Reports that disclose revenues from the extraction of its natural resources. Companies disclose what they have paid in taxes and other payments and the government discloses what it has received. These two sets of figures are compared and reconciled.
The 2011 EITI Report was published in December 2012.

EITI Implementation

Mongolia published its 2012 report in December 2013. It has also developed a mid-term strategy (2010-2014), which include broader objectives such as expanding the EITI to revenue disbursement, licensing, natural reclamation costs and contract transparency

See Mongolia's EITI implementation timeline

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Innovations

Mongolia’s EITI Reports are highly comprehensive. They include a good overview of the extractive sector, including number of deposits, production figures by commodity, and a map of current oil exploration and production activities. The Reports disclose revenues collected at provincial and local levels, including fines and environmental remediation costs, and social payments and donations. The 2011 EITI Report also included a survey of IFRS application by companies, indicating which companies have been audited in accordance with IFRS and the name of the audit firm. Basic information about licenses and license holders are included in the Report. 

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National Coordinator

Mongolia
EITI Secretariat Mongolia
+976 117 0110 525

International Secretariat

Mongolia
Country Officer
EITI International Secretariat
+47 216 85 386 / +47 450 74 008
Mongolia
Regional Director
EITI International Secretariat
+47 216 85 398

Facts & Figures

Latest Eiti Report: 2012 Report
Deadline for next Eiti report: Wednesday, 31 December 2014
Number of fiscal years published: 7

Mongolia News

Mongolia has possibly the fastest...
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