EXPLORATION LICENSES COVER 3.8 PERCENT OF TERRITORY OF MONGOLIA

The Implementing Agency of Mongolian Government Mineral Resources and Petroleum Authority released the latest report on the activities of special license for mining as of November 2019. 

The report says the number of license that was revoked or expired in last November reached 19, and 16 of which were exploration licenses. Three mining licenses were issued on three mining fields, including two licenses for ‘Gobicoal and Energy’ company in Bayankhongor aimag and one license for ‘Shine Mongol License’ in Umnugobi aimag. 

Bloomberg Mongolia reports that there are currently active exploration permits issued on around 3.8 percent of territory of Mongolia. And 25.33 percent of them are owned by Chinese company, 22 percent and 16 percent by Singaporean and Canadian companies respectively, followed by companies from Hong Kong and the Netherlands. 

Exploration licenses had been issued on through tendering process, however in December 2019 the government of Mongolia made a decision to not issue any exploration license for one year. 

Source; https://montsame.mn/en/read/211916