Mongolia Economic News


Forum on the draft Mineral Law held


To discuss the much criticised and publicised draft Mineral Resource Law, senior advisor to the presidents, P. Tsagaan initiated the discussion held yesterday morning at the president’s civil hall. The forum was organised by the; World Bank, German Society for International Cooperation and the support of Mineral Resource and Raw Material projects. The Mongolian Mining Journal Acted as press arbiter for the event.
Before noon, the 15 sectioned draft Mineral Law project was introduced by the task force appointed to formulate it, and afterwards the; mining business operators, government officials and the representatives of the civil society held separate meetings to add their perspectives about the law.
The senior advisor to the president P.Tsagaan noted that the Mineral Draft Law is being formulated in the most democratic manner with the participation of the public, professional establishment and the private sector during the open discussion period of the forum.
He further added that he is thankful for the proposals and position details of the participants regarding the law and that he stressed that this law will be well formulated.
P.Tsagaan noted that lately views about the law, that is not professional and that it has a political agenda have been spread by nongovernment sources. To the contrary, the law is supposed to provide support for the private sector and if someone perceives it otherwise there is a misunderstanding.
He also stated that “further submissions about the law will be made in due course”.
At this point, it is not clear when the law will be approved or in what form. But, it is certain that the law will reflect the diverse views of all relevant groups before it is passed by the parliament.
Around 250 delegates, from the legal, private sector, nongovernmental organizations within the mineral resource sector, civil society and environmental organizations, participated and shared their views at the forum.


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Bank Of Mongolia Financial Regulatory Commision
Bank Of Mongolia Financial Regulatory Commision
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Association of non-bank financial institutions
Ministry of Finance, Mongolia
Bloomberg Mongolian Stock Exchange
Mongolian Stock Exchange
General Department of Taxation, Mongolia
General Department of Taxation, Mongolia