DRAFT LAW ON AMENDMENT TO THE LAW OF MONGOLIA ON MINERALS TO BE DISCUSSED
The Government of Mongolia submitted the draft of “Amendment to the Law of Mongolia on Minerals” to the Parliament of Mongolia on 1st of July, 2014. The main aim of this draft law is, if the negotiation with the investor goes successfully, to receive the payment in fecundation equivalent to the strategically important mineral deposit’s state owned dividend per share as a mineral royalty and to regulate the relations associated with it.
On the Parliament sessions of February 11 and 17, 2015 the Parliament of Mongolia decided whether to discuss the draft law and passed the draft law to the Economic Standing Commission for the preparation of the draft law’s first discussion. The Commission issued it’s views and comments on the draft law on February 18, 2015 and it is now ready for the first discussion.
The draft law “Amendment to the Law of Mongolia on Minerals”was approved by the Parliament of Mongolia on July 7, 2014. The changes have been made to 24 provisions of the Law of Mongolia on Minerals and some parts have now became invalid according to this law.
In recent years, the Law of Mongolia on Minerals was amended several times. If you want to see the concise comparison of previous “Law of Mongolia on Minerals” 1997 and “Law of Mongolia on Minerals” 2006, please click the below link.