Ulaanbaatar
D.Sumiyabazar meets mining sector representatives
Economy | Mining
Ulaanbaatar/MONTSAME/ On March 2, Mining and Heavy Industry Minister D.Sumiyabazar held a meeting with representatives of companies operating in gold sector.
Present at the meeting were representatives of the Ministry of Mining and Heavy Industry, Mineral Resources and Petroleum Authority, Mongol Bank, Mongolian Gold Producers Association and over 120 gold enterprises.
At the meeting, Minister D.Sumiyabazar said, “We adhere to principles on strengthening public and private partnership, developing open cooperation with businesses with a purpose to improve the sector’s responsibility structure, producing value-added products, increasing jobs and focusing on industrial projects which have potential to boost economy.”
He also underlined that the sector has a big goal to increase gold production and expand gold selling to the Mongol Bank by means of modernizing technology. The Mongolian government approved ‘Gold-2’ program last year for increasing the gold mining output. According to the program, a 2.5 percent royalty on sales income was introduced for those operating in gold sector. It is effective until January 1, 2019, he added.
During the meeting, representatives spoke out pressing issues in running gold mining operation and received answers to their interested questions.
D.Sumiyabazar told he plans to establish a Memorandum of Cooperation with operators of mining companies this month. In addition, he introduced about a process of drafting the Bill on Mining that is expected to be discussed at the spring session of the Parliament. The bill reflects legal regulations comprehensively on all mining activities from opening until closing, and includes certain clauses regarding natural conservation, rehabilitation and accountability.
Present at the meeting were representatives of the Ministry of Mining and Heavy Industry, Mineral Resources and Petroleum Authority, Mongol Bank, Mongolian Gold Producers Association and over 120 gold enterprises.
At the meeting, Minister D.Sumiyabazar said, “We adhere to principles on strengthening public and private partnership, developing open cooperation with businesses with a purpose to improve the sector’s responsibility structure, producing value-added products, increasing jobs and focusing on industrial projects which have potential to boost economy.”
He also underlined that the sector has a big goal to increase gold production and expand gold selling to the Mongol Bank by means of modernizing technology. The Mongolian government approved ‘Gold-2’ program last year for increasing the gold mining output. According to the program, a 2.5 percent royalty on sales income was introduced for those operating in gold sector. It is effective until January 1, 2019, he added.
During the meeting, representatives spoke out pressing issues in running gold mining operation and received answers to their interested questions.
D.Sumiyabazar told he plans to establish a Memorandum of Cooperation with operators of mining companies this month. In addition, he introduced about a process of drafting the Bill on Mining that is expected to be discussed at the spring session of the Parliament. The bill reflects legal regulations comprehensively on all mining activities from opening until closing, and includes certain clauses regarding natural conservation, rehabilitation and accountability.
M.Unurzul
