Mongolian government halts new mining licenses, forbids transferring existing ones

Mongolian government suspended the issuance of new mining licenses and forbid the practice of transferring the permits already granted. The measures will remain until a new law is passed, said the presidential website in a statement, giving no information on when it will happen. “Almost half of the exploration license holders neglect their legal duty to provide their annual exploration reports”, the president said in the statement dated April 23.

“Ignorant of their main duty to explore for minerals, the license holders have turned mineral licenses into a money-making tool for foreign and national groups. It is possible that corruption and bribery are committed in those circles”, it follows. According to the government, Mongolia has 4,706 mineral licenses; of which 1,096 give permission to mine.