S.Bayar and Ts.Elbegdorj Made Joint Statement

Mar 12 • Economy, Government, Mining, News • 580 Views • No Comments on S.Bayar and Ts.Elbegdorj Made Joint Statement

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Today. 12.45 pm

Today 12.45 pm, Prime Minister S.Bayar and Mr. Elbegdorj, Chairman of Democratic Party, made a joint statement at Government House. They stated that two parties reached common agreement on the amendment of Mineral Law of Mongolia. Parties agreed on immediate resume of Tavan Tolgoi and Oyu Tolgoi projects and investors can own only upto 49% of the strategic deposits and government will own 51%. The draft law on amending the Mineral Law of Mongolia. Today it will be discussed by the Cabinet Meeting.

Prime Minister S.Bayar made a request from journalists not to put a question out of the topic.

S.Bayar:

It has been long since the issue of exploiting the mining deposits became main topic. The draft law on amending the Mineral Law of Mongolia is ready. Today, it will be discussed by the Cabinet Meeting. Two parties reached the common consent and stance. Now, Mr. Ts.Elbegdorj will make his statement on this issue.

Ts.Elbegdorj:

We have talking about it so long. Today is the time to the Mongolians to exploit our mining deposits and benefit from them. According to the amendment to the Mineral Law, “if foreign legal body invest into the Mongolian strategic deposits, their share will not exceed 49% . Therefore the Mongolians share will be more than 51%”

S.Bayar:

There are many proposals from MPs to the working group. There were 7-8 proposals such as to halt license selling. Therefore, in order not to loose a single day and hour, we made a request from the Speaker of the Parliament to announce the ad hoc parliamentary session. After adoption of law, the issue of investment agreement on certain deposits will be discussed. We will not delay anytime because of election.

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