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Policy

  • The Mongolian Government has blinked, and taken a step to resolve the impasse over the second phase of the Oyu Tolgoi project. Expressing the hope that this will “open a new chapter in our relationship”, Prime Minister Altankhuyag wrote a letter to Rio Tinto CEO Sam Walsh on March 27, saying talks on financing the mine’s further development can be resumed without waiting for the completion of the feasibility study. He, however, asserts that the Government has not been responsible for the delay in deciding on the issue.
  • The European Bank of Reconstruction and Development (EBRD) has once again deferred releasing funds for expansion of the underground mine at Oyu Tolgoi, from February 27 to March 31. That will also be when 15 commercial banks decide whether to defer the funding or even to cancel the financing deal.
  • D.Galsandorj, President of the Mongolian Exporters’ Association, consultant mining engineer and professor, talks to  B.Tugsbilegt about the erosion in Mongolian mineral products’ export competitiveness and suggests corrective measures to be undertaken.
  • The State Policy in the Mineral Sector was passed last month after being discussed for over two months. President Ts.Elbegdorj had proclaimed a decree last March and a working group was set up to prepare a draft policy for Parliament to discuss. After working for almost half a year, the working group submitted the draft to the State Great Khural at the Fall Session.
  • A novel feature of the draft State Policy on  the Mineral Sector, awaiting Parliament’s approval, is that its implementation will be effected through several sub-programmes, the detailed explanatory and regulatory articles related to which will ultimately demarcate the way along which the whole mineral sector will develop until 2025.
  • The draft of the State Policy on the Minerals Sector was submitted by the Ministry of Mining on May 31 this year. After almost half a year of discussion, what have been the major changes suggested to it?
  • There was good reason why The Mongolian Mining Journal was among the organisers of “The 20th Anniversary of the Modern Mongolian Mineral Sector” Forum held at the ‘A’ Hall of the Government Palace on November 15.
  • Two new terms were introduced into the Mongolian economic discourse this year: ‘Crawling depreciation’ and ‘Expansionary policy’. The first was used to define the economic trend and the second to describe the nature of our monetary policy.
  • The planned thermal power plant based on Tavan Tolgoi coal is to be built with both Government and private investment. The Head of the Tavan Tolgoi Electrical Plant Proposal Department, Dr of Economics M. Enkhsaikhan, describes how things are progressing.
  • The following recommendations, emerging from the proceedings at the “20 years in the modern mineral sector” forum, have been sent to members of parliament, the President’s Office, and cabinet members.
Poll
Do you agree with increasing state participation in the Draft New Mining Law?
  • 1. Agree
  • 2. Disagree

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