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The Ministry of Mines held its regular monthly Transparent mining press conference. D.Artag, state secretary and L.Radnaasure, head of the Petroleum policy regulation department and other officials addressed the hot issues.

Topic ONE – Gatsuurt

The Parliament had ratified the state ownership in Gatsuurt deposit. The issue was returned for further improvement three times and discussed four times before the final approval of setting the state ownership at 34%. The Government was resolved to hold negotiations with the license owner in accordance with the Minerals Law. The Ministry of Mines is in charge to finalize the agreement with the license holder.

Topic TWO – Erdenes Mongol LLC

The amendment draft to the Law on Human development fund was discussed and ratified at the plenary session of the Parliament. The ratification of the draft law shall ensure the operations of Erdenes Mongol LLC, structure company management in accordance with the content, general principles and regulations of the Company law and to create legal environment for the company to be engaged in for profit, independent activities. The core management of Human development fund shall remain with the Ministry of Finance.

Topic THREE – Centerra Gold

Four licenses owned by the Centerra gold said to be issued in accordcance with the legislation valid for that time. In contrary, the NGOs claim that it was an illegal decision and filed a complaint to the courts. To resolve the dispute, the court shall question the Minerals authority and based on the explanation the court shall have a legal proceeding to finalize the dispute. Therefore, the officials say that it’s too early to state whether the licenses shall be terminated or not.

The State secretary of the Ministry of Mines informed that the Working group was formed to establish stock exchange on minerals.

Press conference organizers also provided some updates to date on the activities of the Ministry. Mr John Langtry, Extraordinary and Plenipotentiary Ambassador from Australia to Mongolia was received by R.Jigjid, Minister of Mines to discuss the ideas on the expanding relations in mining sector.Mr R.Jigjid also held a meeting with H.E.Ambassador Ed Jager from Canada to Mongolia and exchanged information on PDAC-2016 conference to be organized in Canada.

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