Oyu Tolgoi and Tavan Tolgoi deposits are to be exploited soon. There is a talk about finalize drafting the amendment in the Mineral Law of Mongolia by February 1 2009. It was cleared by MP Ts.Badamsuren, the head of the working group on amending the Mineral Law of Mongolia.
Q: The Government received full power to start negotiation on Tavan Tolgoi and Oyu Tolgoi. But when the draft amendment will be proposed to the State Great Khural. Is it true that it will be ready by February 1 2009?
MP Ts.Badamsuren: Mining industry is the key industry in the Mongolian economy. Therefore, its legislation improvement issue must be discussed. This issue is huge one; therefore, it is not good to make it in a rush. The Mineral Law of Mongolia was amended very often recently. Therefore, the limit is finished for making it incomplete. This will be the main and basic law that is long-lasting and basement of the developing the main sector in the Mongolian economy. On the other, the legislation in mining industry can’t be limited only by the Mineral Law of Mongolia. In order to develop this law, many other laws on earth, water and environment must be considered.
It is so tight to prepare and propose it by February 1 2008. No time to lose. Therefore, we have to work 24/7 basis. The situation is changed if compares with the same time of the previous year. We should start talks with the companies that were about to cooperate on Oyu Tolgoi and Tavan Tolgoi deposits. We lost about 4-5 years already.
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