All uranium exploration and mining licenses have to be re-registered with the Nuclear Energy Authority before October 15, under the new law on nuclear energy. 164 uranium exploration licenses are to be re-registered according to the Geology and Mining Department of the Mineral Resources Authority. Foreign investors have complained that the time given is too short.

The DP group in Parliament, according to its leader, Ch.Saikhanbileg, wants to set up a Motherland Treasure Fund to fulfill all the promises made during the 2008 parliament election. The DP wants an arrangement whereby people will get long-term benefits from use of the country’s resources. He estimates that MNT25 trillion should accumulate in the fund between 2009 and 2054 from mining in Oyutolgoi and Tavantolgoi. 

The DP group in Parliament, according to its leader, Ch.Saikhanbileg, wants to set up a Motherland Treasure Fund to fulfill all the promises made during the 2008 parliament election. The DP wants an arrangement whereby people will get long-term benefits from use of the country’s resources. He estimates that MNT25 trillion should accumulate in the fund between 2009 and 2054 from mining in Oyutolgoi and Tavantolgoi. 

Mongolia has positioned itself to become a large copper exporter, after it yesterday signed an agreement with multinational mining companies to develop an enormous deposit near the Chinese border.