Ulaanbaatar
Ministry of Mining reports
Economy | MiningUlaanbaatar /MONTSAME/ The Ministry of Mining reported Thursday that it has successfully carried out seven selections to give mineral licenses in accordance with the law on minerals.
Through the selections, 21 mineral exploration licenses were granted on 256 thousand hectare areas after offering 63 mineral areas on 509 thousand hectares. On May 11, the Ministry also announced eight places to be granted through bids, and relevant information has been posted on the Mineral Authority’s website, the Ministry reports.
- As of the first four months of this year, the Mineral Authority has paid MNT 11.1 billion in the state budget, while the Oil Authority--MNT 36.4 billion. The state budget earned MNT 47.5 billion from the Mining Ministry’s package as well.
- By May 25, 2016, Mongolia has petroleum reserves for approximately 40 days. Among these, A80 fuel--for 44 days, AI92 fuel--59 days, diesel petroleum--52 days, and TS-1--20 days, the Ministry reports.
