The office of the President of Mongolia, Public Relations & Communications Division


“Fair Mineral Development” International Roundtable Meeting Successfully concluded in Ulaanbaatar

The Office of the President of Mongolia and the World Economic Forum—co-organizers of the “Fair Mineral Development” Roundtable—held a press conference to inform journalists the result of the two day event, which took place at Ikh Tenger Complex, in Ulaanbaatar on June 17th and 18th, 2010.

The press conference for “Fair Mineral Development” Roundtable—initiated by the President of Mongolia at the regional World Economic Forum in Davos, Switzerland early this year—was given by Britt D. Banks, Chair of Global Agenda Council on the Future of Mining & Metals; the World Economic Forum representatives Alex Wong, Senior Director & Head of Centre for Global Industries & Jan Klawitter, Associate Director & Head of Mining & Metals Industry, Global Leadership Fellow; the Senior Advisor to the President of Mongolia, P.Tsagaan and Advisor Non-Staff and Personal Assistant to the President E. Sodontogos.

A Non-government organization, World Economic Forum, has been in operation for more than 40 years, during which time its major goal has been to do a series of research and observations of the world economic trend. Based on the results of the research, the Word Economic Forum makes anticipated estimate and scenario building of the possible outcomes of the world economy in the upcoming years, for the purpose of giving accurate evaluation of the international economy and methods of preventing unwanted conditions.

The participants of the Roundtable meeting are well pleased with the event, saying that it has been a well timed and significant one. As much as the mineral sector of countries varies depending on a multitude of factors, an internationally accepted Model Development Agreement in mining is still to be established. Thus, the “Fair Mineral Development” Roundtable’s main goal is geared towards building a Model Development Agreement and the Forum plans on presenting the draft proposal at the 2011 World Economic Forum in Davos next January.

In his speech at the Davos World Economic Forum in January 2010, the President of Mongolia Ts.Elbegdorj proposed two very enthusiastically welcomed initiatives— namely, the establishment of a Model Development Agreement & Capacity Building Initiative. The initiatives were discussed in detail at the “Fair Mineral Development” Roundtable. More specifically, discussions of how the most suitable legal environment is ought to be, and the necessity to build a work-force capacity that is able to negotiate and establish mineral development agreements at an international level.

At the press conference, Advisor P.Tsagaan emphasized the significance of the fact that the Model Development Agreement Initiative was supported wholeheartedly by the World Economic Forum, who as a result has supported and co-organized this round of meeting gives Mongolia an opportunity to learn from other counties’ experiences as well as share with others our own experience in the mineral sector with representatives of various international organizations.