Mongolia's legal framework in mining sector: Comparative evalutation with regional countries.

Mr. Zorigt, Dashdorj
Minister
Ministry of Mineral Resources and Energy of Mongolia

Mongolia is undergoing a drastic change of its legal framework on mining. While the role of the mining industry in Mongolia's economic growth is increasing with exponential speed, changes in the legal framework introduced in July 2007 through amendments to the Law on Minerals created more questions for investors than answers. Clarity of the legal framework is essential, given the magnitude of pipeline projects and the attention of major mining corporations and off takers that these projects reflect. The short paper presents the changes made into the Law on Minerals and relevant other laws and undertakes a comparative analysis in the context of the region.