We are currently in an era of extreme volatility in terms of
commodities, where we can experience the swiftest growth in value, and
one of the sharp drops, all within a few weeks of one another
(Australian Mining August 2016).
We give below the text of the draft amendments to the Minerals Law. Only
the Articles, Clauses and Sub-clauses sought to be amended are given.
The translation from the Mongolian is neither official nor authorised
nor literal, but it is accurate in giving the true sense of the proposed
This is a translation of the just released draft regulations governing
investment agreements under the new Investment Law. We have tried to
keep the translation accurate but it is neither literal nor authorised.
“State Minerals Policy” focuses on providing national primary interests
by developing conspicuous and responsible mining relied upon private
sector, in addition it will aim to develop multisectored and balanced
economic structure in the short and mid-term.
Following the recent adoption by Parliament of the State Policy on the
Minerals Sector, the current Minerals Law will have to be amended, to
incorporate features of the new policy, but analysts expect the changes
will not be many and will also be minor in nature. A working group has
been established at the Ministry of Mining to recommend likely
amendments and it is now making its own study, as well as asking
professional organisations and experts for suggestions.
During his visit to China last month, Prime Minister N. Altankhuyag
signed with his counterpart Li Keqiang a document that outlines key
areas of cooperation for the development of the two countries’ strategic
partnership in the medium and long term. The following is the text of
parts of the agreement, selected on the basis of their relevance to the
interests of our readers. The translation is neither official nor
ll speculation on what the new Law on Minerals would contain is finally
over with the draft – in both Mongolian and English – now posted on a
website. It has 15 chapters and many new concepts. It also does not
appear that much from last spring’s two discussions on it has been
incorporated in the draft.
The purpose of this Law
is to promote economically viable mining and extractive industries which
carry out prospecting, exploration, mining and processing mineral
resources in compatibility with the economic, social and environmental
policies of the State.
1.1. The purpose of this Law is to
regulate investment by foreign investors, the persons and the third
parties with common interest with these investors in entities operating
in the strategic sectors and the relations pertaining to the permission
with a view to ensuring the national security.
1.1. The purpose of this law is to regulate relations with respect to
the establishment, registration and reorganization of a company, its
management and organizational structure, supervisory structure, the
rights and obligations of its shareholders, and its liquidation.