New procedure for exploration licenses to be adopted

Ulaanbaatar /MONTSAME/ On March 23-24, the annual ‘Mongolian Geology and Exploration’ conference, initiated by the Society of Economic Geologists is gathering geologists for the 9th time this year. Attended by representatives of mining companies, international associations, investors and the Mongolian Ministry of Mining and Heavy Industry, the conference serves as a platform for discussion on geology, mining, legal environment surrounding and government policy on minerals at Corporate Hotel & Convention Center. In his opening speech, Deputy Minister of Mining and Heavy Industry D.Zagdjav defined the purpose of the conference as introducing the output of the works of Mongolian geologists, strengthening cooperation between government and private sectors, and attracting foreign and domestic investment. The Ministry of Mining and Heavy Industry is also planning to begin following a new procedure for the issuance of exploration licenses which will introduce new policies such as giving special permissions based on the exploration plans and amount of investment and allowing both domestic and foreign entities to submit applications. Presently, some 15 geological research works are ongoing as MNT 9.3 billion was allocated from the 2017 state budget for basic geological researches. “Compared to last year, investment in mining is increasing, and it has been estimated that mining sector will accumulate MNT 13.3 billion in state budget this year”, said M.Enkhjargal, Deputy Director of Mineral Resources and Petroleum Authority of Mongolia. In conjunction with the ‘Mongolian Geology and Exploration’ conference, side events like announcement of mineral exploration and exploitation projects, business meeting of investors, ‘Mongolian landscape through the lenses of explorers’ photography exhibition and ‘The finest of minerals and rocks’ exhibition are also being held. Organizers of the annual conference include the Ministry of Mining and Heavy Industry, Mineral Resources and Petroleum Authority, General Authority of Specialized Inspection, Mongolian University of Science and Technology and National University of Mongolia.