Mining Jobs in Mongolia
Mongolia has extensive and largely untapped mineral resources and the foreign investment into the mining industry has been driving a significant amount of the historical growth. Needless to say that Mining Sector will continue to be critical to the development of the Mongolian economy. In 2005 the value of metal and mineral exports and imports accounted for 57.5% of the country’s total trade value and it has increased to 80%+ in recent years (and 80% of a much bigger number!).
The number of companies engaged in mining increased greatly since the 1990 and today mining industry with resources such as coal, copper and gold and other rare natural resources became a major part in Mongolian economic growth. As a result demand for skilled professionals in the mining sector provided a welcome boost and helped drive increases in salaries for local professionals across the board. Mining jobs or jobs in mining companies have become a key, and influential, sector of the job market.
However, GDP growth has weakened in recent months due to some concerns about perception of foreign investment, particularly in the mining sector. This has led to hiring freezes in some companies and slower job creation in others. Particularly impacted have been operational mining jobs as several companies have put operations on hold for varying periods of time.
The most publicized issue has been the delayed operation in Oyu Tolgoi mine, which has been caused by disagreements between the two major shareholders: Rio Tinto and the Government of Mongolia. Oyu Tolgoi (also known as OT) was expected to make up almost a third of Mongolia’s economy by the year 2020, and at full tilt it would produce 450,000 tons of copper and 330,000 ounces of gold a year and the project is a key flagship one in the Mongolian market.
It had appeared that tension between the shareholders eased up following the completion of the presidential election campaign when president Elbegdorj won a second term in office. Shortly afterwards Rio Tinto’s first convoy of trucks left the Gobi Desert carrying copper to China. However, recent decisions to subject phase 2 financing to parliamentary approval, as well as a long and unresolved list of issues between the government and Rio Tinto have led to renewed concerns and speculation in the last week.
However, regardless of short term set-backs, long term prospects remain extremely strong. Only 25% of Mongolia has been geologically surveyed and there are other mines that are actively operating and hiring for professional talents to further improvise their operations in Mongolian mining industry.
The long term prospects of mining jobs in Mongolia remain strong and there are always pockets of growth that provide opportunities for skilled talent.
If you are interested in exploring your job options in the Mining sector in Mongolia, or any other sector, please feel free to contact one of our skilled recruitment professionals who would be happy to advise. We work with a range of mining clients, from the large giants through to smaller boutique projects and are confident that we can be of help for job seekers in this space.
Mongolia Talent Network is the leading recruitment / headhunting agency in Ulaanbaatar. We have a large team of headhunters permanently based in Mongolia working to get you great job options. In addition to our direct clients, we also have over 100 companies using our website to advertise their job positions on our free job board.
Please visit www.MongoliaTalentNetwork.com or contact us at info@MongoliaTalentNetwork.com to talk to one of our headhunters in Mongolia.