Last week, State Secretary of the Ministry of Industry and Mineral Resources S.Javkhlanbaatar received Director General of the International Atomic Energy Agency (IAEA) William D. Magwood to discuss Mongolia’s contributions to the global energy transition and its efforts to enhance sustainable energy solutions.

The meeting highlighted Mongolia’s ambitious energy goals, with S.Javkhlanbaatar outlining that mining remains the backbone of the nation’s economy, contributing over a third of the GDP and accounting for 90 percent of its exports. However, the country faces significant challenges in energy supply, with approximately 20 percent of its energy needs met through imports.

The state secretary noted that the country has set a target of increasing the share of renewable energy to more than 30 percent by 2030, with a strong focus on reducing coal consumption and transitioning to cleaner sources of power. As part of this effort, the government is prioritizing the modernization of thermal power plants, the expansion of natural gas infrastructure, and the promotion of electric and hybrid vehicles to reduce air pollution, particularly in Ulaanbaatar.

One of the key highlights of the discussion was Mongolia’s collaboration with a French company on the launch of a uranium project. This initiative marks a significant step in developing nuclear energy as a renewable energy source, aligning with Mongolia’s broader strategy to diversify its energy mix and reduce dependence on coal.

Magwood, in turn, presented the ongoing work of the IAEA and the Nuclear Energy Agency, addressing critical challenges facing the nuclear energy sector. These include high development costs, supply chain constraints and a shortage of skilled human resources. He emphasized the importance of small modular reactors (SMRs) as a potential solution for global energy needs and urged Mongolia to actively participate in international nuclear initiatives and programs to enhance human resource capacity in this field.

The two sides agreed on several action points aimed at advancing cooperation. These include sharing reports on SMRs and the mining sector, inviting Mongolian representatives to participate in international nuclear energy events, and providing detailed information on the development of public relations and implementation mechanisms for nuclear projects.