Mongolia's mining sector is a major contributor to the national economy. According to the Ministry Resources Authority of Mongolia, mining represented 30% of GDP and 81% of exports in 2010. 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.
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.