MINING MINISTER RECEIVES CHINA'S AMBASSADOR

Ulaanbaatar /MONTSAME/ The Minister for Mining, D.Gankhuyag received the Ambassador Extraordinary and Plenipotentiary of the Republic of China to Mongolia Wang Xiaolong on December 10. Mr Gankhuyag mentioned about policies and activities of the cabinet for reform in mining and petroleum sectors, and then said Mongolia and China have gained some results in their cooperation in these sectors. Saying the cabinet has been working on establishing a petroleum plant, he informed that a domestically extracted petroleum is to be supplied to this plant firstly, at market price, and that this and other related issues have been reflected in a production sharing agreement and related protocols. The Ambassador said the “Petro China” company invested a large sum in searching and exploring a petroleum and that a tax environment must be stable for the production sharing agreement. Then he expressed a support to the actions of the cabinet for reforms. Then the sides focused on a matter on running a regular meeting of the mining and energy sectors' cooperation council in 2013. Ch.Enkhtuya