MP Z.Altai: Product share principle is a better option

Nov 20 • Government, Interview, Laws, Mining, News, Politics • 436 Views • No Comments on MP Z.Altai: Product share principle is a better option

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Q: A working group was established on drafting the Mineral Law of Mongolia (2006). As for you, what is the best alternative?

A: There are many alternatives. Frankly says, there are some things are suspicious. Many movements and demonstrations worked on this draft law before. But, according to my observation, the law says that State ownership is 51%, and then there is another voice is coming up that that ownership can be the Mongolian citizen or business entities. If a wealthy individual owns the deposit, what will do the state? It is hard to reject a person who paid his money. Therefore, there is an issue of what will do with a single company that owns it?

Q: What is your best solution for the state?

A: Product share principle. More clearly, Mongolia has no potential to invest in its mining industry. Therefore, it shall be friend with the foreign well known companies and draw their investment into Mongolia and share its production.

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