MOST OF MINING INVESTMENTS COMES FROM MONGOLIA

Ulaanbaatar /MONTSAME/ Mining investments of domestic firms consist 74.1 percent of all investments, said the Mineral Authority on Monday. Foreign investment accounts nearly 20 percent, while joint companies invested the rest. According to a survey conducted by the Mineral Authority, a total of 1,763 mineral licenses have come into effect to give relevant rights of mining operations covering 15.1 million ha or 9.7 percent of all territory of the country. The most of the licenses have issued for gold (35.4%) and coal (17.3%) mining, while less permits have been allowed for mining operation of construction materials (20.7%), spar (12.1%), iron ore (4.2%) and wolfram (2.1%).