Mongolia gold reserves hit 3.5 tons

However the precious yellow metal accounted only for nearly six percent of Mongolia's total reserves, compared to nearly seventy percent in the US and Germany,WGC said.

According to IMF, Mongolia‘s gold reserves rose 1.2 metric tons to 3.5 tons last December,up for the elevent year in a row. However the precious yellow metal accounted only for nearly six percent of Mongolia‘s total reserves, compared to nearly seventy percent in the US and Germany,WGC said. Country’s gold exports witnessed a fifteeen percent increase followoing the windfall profit tax cut Mongolia is home to some of the Earth’s largest untapped gold, copper, and uranium reserves. There are officially 1,083 active mine sites in Mongolia, only 419 of which are legal.

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