August, September, and October… Maybe the hottest months are heating up in Mongolia’s mining sector. The 10-year anniversary of the investment agreement of Oyu Tolgoi is the most pleasant news from among the events coming to highlights one after another. This is, without a doubt, an event that must be in the spotlight of Mongolia’s mining and economic sectors. Numbers and facts will provide enough evidence that the OT investment agreement, which was established after years of nagging by the crisis-ridden Mongolian Government, had a positive impact on Mongolia’s economy in many ways. Unfortunately, the authorities that were involved in the decisions regarding the Oyu Tolgoi project are now walking into the court for “forming an organized crime group…”. The Oyu Tolgoi project, which was the main plate and life-time purpose of politicians, is facing its next challenge and will probably have to cross the same path for 50 years more. It is crucial for the stakeholders of the project to respect each others’ interests and overcome the headwinds together.
Simultaneously, the amendments to the Constitution may just cause trouble for the mining industry. The article involving the natural resources introduced by the Parliamentary working group has broadened beyond recognition along the way. The same old populist politicians’ who failed in fulfilling their main political agenda of distributing the benefits of natural resources fairly and accessibly are sticking that upon the Constitution. The experts in the sector are criticizing the fact that the mining sector may face 20 years of trouble if the amendments are passed as it is with the article on allocating the majority of the profits to the people in using the strategical deposits. Because the Constitution will not be able to be amended after another 20 years once approved as it is… Therefore, the Parliament must have to look back at this article to approve the amendments to the Constitution.
The Government’s populist decisions for the next election are targeting the mining sector. It seems that the mining license suspending campaign under the umbrella of legal violations will prolong for awhile. The next sacrifice of the campaign was the Gatsuurt deposit. The current Cabinet ripped apart all the decisions of the Parliament and Cabinet of the last decade and is arrogantly suspending the licenses of the Gatsuurt deposit. Since it is obvious that the decision is not of the sane thought-process of a legislative state, there is no option but to see it as a populism that wants to draw the attention of the public...
Oyu Tolgoi: 10 years of learning, less earning
Exactly ten years have passed since the signing of Oyu Tolgoi’s Investment Agreement.
Strategic deposits to be enthroned into the Constitution
The minerals sector heavily criticizes this term, citing “strategic products” as a more optimal and preferred alternative.
The Government cannot afford populism
We must remember five years ago when 480 billion MNT was calculated to be paid as compensation for 350 licenses under the Law with the “Long title”.
Ch.Munkhbat: We will recover our licenses
We spoke with Ch. Munkhbat, President and CEO of Southgobi Sands LLC
Mongolian coal out of the league
Unfortunately for Mongolian coal, the main weakness is not infrastructure but cheap and unprocessed raw coal.
B.Artagbat: “Mine closure 2020” to be held in Mongolia
“Qualified Mining Consulting” has been awarded the right to organize the 14th International Conference on Mine Closure in Mongolia. We talked with B. Artagbat, Executive Manager of the organizing committee.
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