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MINISTRY OF MINERAL RESOURCES AND ENERGY. CURRENT SITUATION OF MINERALS SECTOR OF MONGOLIA. International Conference on “ Directing Extractive Industries to Human Development” 2011- 1 0-2 0 , Ulaanbaatar. D.ZORIGT MINISTER OF MINERAL RESOURCES AND ENERGY, MONGOLIA.

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MINISTRY OF MINERAL RESOURCES AND ENERGY

CURRENT SITUATION OF MINERALS SECTOR OF MONGOLIA

International Conference on “Directing Extractive Industries to Human Development”

2011-10-20, Ulaanbaatar

  • D.ZORIGT
  • MINISTER OF MINERAL RESOURCES AND ENERGY, MONGOLIA
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IMPACTS OF MINERALS SECTOR ON THE

ECONOMY OF MONGOLIA

Percent

GDP

Industrial goods

Export

slide3

INVESTMENT IN MINING SECTOR

Investment

Mining product

Supply of mining products had reached 2,6 billion USD and investment in mining sector 1,1 billion USD in 2010.

slide7

Royalty distribution

Progression Royalty

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CURRENT MINING STRUCTURE

New mining deposits have been put into operations and the impacts of mining sector to the economy has increased. In 2009 14 mines and in 2010 12 mines were put into operations. 19 mines started their operations as of September of 2011.

8700 workplaces have been newly created in these mines and about 50 thousand employees are working in the mining sector.

legal environment in the mining sector
LEGAL ENVIRONMENT IN THE MINING SECTOR
  • MINERALS LAW OF 1994

- Licenses were issued to private entities by tender

  • MINERALS LAW OF 1997 (SECOND LAW)

-Licenses were issued to individuals and entities that first submitted license applications

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MINERALS LAW (AS REVISED IN 2006,

THIRD ADOPTED LAW):

  • Classification of mineral deposits (deposits of strategic importance, common and conventional minerals)
  • Ownership of minerals (Government participation in deposits of strategic importance being 34 and 50 percentage)
  • Investment Agreement
  • Licensing (through tendering)
  • Local participation
  • Liabilities toward environmental protection and rehabilitation
  • Quota of foreign national employees in total number of employees at mines shall not exceed 10 percent
  • Minimum exploration expenditures
further considerations and required improvements
FURTHER CONSIDERATIONS AND REQUIRED IMPROVEMENTS
  • Society and economy
  • Environment
  • Ensuring local and civil participation
  • Issuance of mineral licenses
  • Investment agreement and its term
  • Inspection