Daily Business News Mongolia

MP J.Enkhbayar is a member of working group on drafting amendment in the Mineral Law of Mongolia has his words regarding the current issue.

Q: You are a member of working group on drafting amendment in the Mineral Law of Mongolia. How is the working group’s progress?
A: Frankly we are suffering for our political attitude towards economy. We lost several billion US$ for this stupidity. Shortly, we missed the best chance and opportunity. I read through previous laws and drafts. I noticed many populist provisions and articles in them. We need to fix those populist and exaggeratedly political provisions.The mining projects must be realized immediately. The old mineral law has many periodical mistakes. Draft that was composed when the copper price was low presented when its price was high. In reverse, when the price fell, the draft that was composed when it was high presented. Therefore, we need not temporary laws and provisions, but we need visionary and solid law that considers commodity price surge.

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