The Round Table was Moderated by Mr. Terrence Edwards, from Bloomberg News. The Ambassadors of Australia, India, Canada and Cuba took part as speakers, besides Mr. Olivier Thoumyre, Senior Vice President of the French company ORANO and Mr. Narantsogt, Chief Executive Officer Erdenes Mongol Group LLC.
The Ambassador of Cuba, Jorge Ferrer highlighted that his country has already some important sucessful Joint Ventures with Foreign companies like Sherrit International from Canada, present for more than 30 years in the mining and oil sectors.
He also underlined hat there are a opportunities for public and private Mongolian and International companies to invest in mining in Cuba in safe investments, with high mineral content rates and mineral reserves for many years.
The ambassador listed several advantages to invest in Cuban mines like tax and other incentives and that Cuba is the world's 9th largest nickel producer and the 5th of cobalt. It is also home to the world's fifth world world nickel reserve and the fourth world cobalt reserves.
He also mentioned that there are more than 9 000 deposits of metallic and non-metalic rocks and minerals for use in several industries. That most deposits are close to land and sea transport facilties and that can be mined in the open pit that it has much lower cost comparing with the underground mining.
The event was atended by national and International delegates to the International Mining Exhibition & Convention in Ulaanbaatar and by the media.
