Critical Minerals: Mongolia Aims to Establish Important Mineral Processing Plants

Mongol Messenger, Ulaanbaatar, May 30 - A seminar titled "Critical Minerals, Mongolia and Global Trends" was held on May 29 at the National University of Mongolia Library by the Mongolian Critical Minerals Association. During the event, Mi Davaa, President of the Mongolian Critical Minerals Association, answered questions from the Mongol Messenger reporter.

Reporter: What metals and elements are included in critical minerals?

Answer: A new battery industry has emerged. This industry is rapidly developing worldwide. Batteries contain metals such as lithium, nickel, silicon, graphite, copper, and molybdenum. Previously, the world generated electricity by burning oil, natural gas, and coal. In the future, renewable or alternative energy will be increasingly used. By 2040 and 2050, renewable energy will replace traditional energy sources. Metals like copper and tungsten are widely used when extracting traditional energy sources. Among critical minerals, raw materials for high-tech components such as aerospace and artificial intelligence are also included. In short, platinum group elements and rare earth elements located at the bottom of the periodic table are considered critical minerals.

Reporter: What is the global trend regarding critical minerals?

Answer: Since the outbreak of the pandemic, countries around the world have updated their lists of critical minerals. Platinum group elements, rare earth elements, and copper have begun to repeatedly appear in the updated lists of various countries. From a global perspective, over the next 10 years, the understanding and awareness of critical minerals worldwide will become more uniform.

There are also countries without high-tech industries that focus on mining critical minerals and supplying them to other countries. The model of receiving those minerals and processing them abroad has become outdated. Currently, mineral-producing countries will process minerals to some extent domestically. For example, Western Australia extracts lithium from rocks and leads the world in this mineral extraction. They have started discussing building battery factories within their own country. Canada is one of the world's major mining nations, and large car manufacturers such as Mercedes-Benz and Volkswagen in Germany have already begun constructing battery manufacturing plants in Ontario, Canada.

Currently, mid-level processing plants are relocating to countries rich in mineral reserves, with investments increasing accordingly. The mineral processing systems of developed countries are changing, and mining countries may process minerals domestically.

Reporter: How does Mongolia align its policies with global policies?

Answer: In recent years, our country has attached great importance to industrial policies. We are currently at a stage of establishing key bases such as copper smelters, steel mills, and refineries. The next phase involves medium-level processing of critical minerals, establishing numerous medium-sized enterprises, and upgrading development through the construction of industrial technology parks and free economic zones. Mongolia may go through 2-3 industrial stages. Our association is committed to drawing government and public attention to processing critical minerals. We discussed a document titled "Critical Minerals Roadmap" at this seminar. This roadmap aims to establish more such processing plants.

Original Source: https://www.toutiao.com/article/1833522483814412/

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