Daily Business News Mongolia

Q: What result is expected from the investors from this forum?
D.Ganbold: The most important thing is stable legal environment. The issue of good or bad law is secondary thing. This sector is very risky. It is important to have stable legal environment that can predict or foresee boost or fall in commodity prices. In Mongolia, we don’t have this tool. The financial crisis brought lengthy uncertainty.

Q: Investors are eagerly awaiting amendment in mineral law. What exactly they want from the law?
D.Ganbold: Some sources have a position not to amend the law and implement the projects instead. If this is true, then it is the most correct move.

Q: Do you mean the mineral law of 2006? Do you think that this law can be implemented today?
D.Ganbold: Mineral law of 2006 can be implemented. It was discussed by the State Great Khural. It was discussed by many parts. Nothing is wrong to pursue this law for time being. The investors have same position last year.

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• P.Ochirbat, Former President of Mongolia: Let the investors own majority
• Dr. Graeme Hancock, senior mining specialist for the World Bank’s Oil, Gas and Mining Policy Division: State ownership of 51% is not the best alternative