Mongolia will resume issuing mining exploration licences from September 24. The move comes after Mongolian parliament passed amendments to the Minerals Law on July 1, which lifted a controversial ban on the issuing and processing of new licences.
The news was announced during a press conference held last week by Mining Minister D Gankhuyag and Mineral Resources Authority of Mongolia chairman D Uurintuya.
Officials say that the exploration and mining licence issuing process has become completely regulated and that licences will be issued on a scientific basis, not like the previous process. It is estimated that the areas that qualify for exploration licenses cover 19.88% of the nation’s territory.
Application numbers for licences will be available online in order to provide more transparency in the procedure.
Under the amendments areas that can be granted under exploration licences will be determined and publicly reported based on suggestions from the National Geology Office.
Officials from the Mining Ministry hope that this will create the opportunity to conduct step-by-step surveys and analysis of Mongolia’s mineral resources, maintain a thorough database and national registry of mineral resources, increase economic growth and competitiveness, and attract more investment.