Mongolia is the gold-producing country in Mongolia, but the country’s mining industry is still struggling to recover from a downturn that has wiped out tens of thousands of jobs.
As of December, there were nearly 11,000 miners in the country, according to Mongolia’s mining sector ministry.
The ministry said there are still some miners in work, but they are struggling to secure enough funds to pay wages and pensions to those who have already left.
That is a major blow for the industry, which has been hit hard by a severe downturn that began when the price of gold fell by over $US100 ($150) per ounce from an all-time high in July 2016.
Mongolia has struggled to find a reliable source of gold, which was once the world’s reserve currency.
The country’s gold reserves have declined from over 10,000 tonnes in 2014 to just over 2,000 tons in 2016.
A government official told the AP that the ministry had asked the mining industry to come up with an investment plan for the next six months.
The minister said the government is also trying to boost production to prevent shortages of gold.
The Ministry of Mines has been working to raise its mining sector’s share of the countrys gold production from 0.8 percent in 2016 to 1.4 percent in 2019.
However, the government has yet to announce a plan for increasing production.