MINING INVESTORS FORUM BEGINS

Ulaanbaatar /MONTSAME/ The 12th international "Mining Investors’ Forum" started September 4 in Children’s Palace in Ulaanbaatar. The measure, being co-organized by the Ministry of Mining and National Mining Association of Mongolia, was opened by the Mining minister D.Gankhuyag. In his speech he underlined that Mongolia has renovated its legal environment in order to attract more investments. "Now the situation will improve after 2011 when it was reported about 70-percent decline in foreign investments, which would stood at USD 4-5 billion and occupy 53 percent of the country’s GDP. In view of this, the State Great Khural re-adopted the investment law and amended the laws on minerals and petroleum last year," he said. "There are also some pleasant news for mining investors such as Mongolia’s definition of its mineral policy and others," he added. This time, the forum is to consider matters regarding “Legal Environment”, “Current state of gold and coal mining”, “State Budget Financing”, “Geology and exploration”. A sub-conference is to run dedicated to rare earth elements. This sector has been drawing an attention of foreign investors. In a scope of the forum, state and private organizations are displaying their activities. The forum is to complete on September 5.