Bank of Mongolia Ushers in a New Era for Mongolia’s Gold Market

Last week, Bank of Mongolia took a historic step forward in the nation’s gold market by signing a landmark international cooperation agreement with Switzerland’s prestigious Better Gold Association and globally renowned gold refiner Argor-Heraeus.

This groundbreaking initiative enables Mongolia’s small-scale and artisanal gold miners to directly supply their gold to prestigious global jewelry companies. It will create unprecedented market opportunities. Miners will also benefit from additional financial incentives for each kilogram of gold sold.

The first phase of this innovative collaboration will launch in Bulgan Province, with active participation from the local branch of Bank of Mongolia and the Precious Metals Assay Laboratory of Mongolia’s Agency for Standardization and Metrology. Economic experts highlight that this strategic partnership will significantly enhance transparency, responsibility, and fairness within Mongolia's gold mining sector. At the same time, reinforcing long-term economic stability and growth.