Ulaanbaatar
Inspection agency seizes illegally acquired gold
PoliticsUlaanbaatar /MONTSAME/ On the margin of a complete inspection conducted by the General Agency for Specialized Inspection, 482.3 grams of gold, seized from illegal gold miners, have been handed to the Treasury of the Bank of Mongolia.
The amount of gold now becomes a state revenue in accordance with the Decision No. 3 and No. 4 issued on December 13, 2016 by the Council in charge of expropriation of properties under administrative rules.
In the past years, the General Agency for Specialized Inspection has handed in a total of two kilograms of gold to the BoM Treasury.
The agency also imposed a compensation fine of MNT 3.5 billion for the damages caused to the state gold reserve by illegal mining activities .
