Mongolia to revise mineral law to promote eco-friendly mining

0 CommentsPrint E-mail Xinhua, March 4, 2011
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President Elbegdorj Tsakhia on Thursday called for environment-friendly mining, saying the nation's mineral laws will be revised to that end.

"Mining is not only an economic issue. It is also a social and political issue in Mongolia," the president said at the Mongolian Economic Forum. "New types of cooperation are needed along with mining activities."

He said that new business clusters and services must be developed based on the mining sector.

The president said he hoped to revise mineral law by the closure of the spring session of parliament. "Currently, we are not issuing any new mining exploration permits until April 30," he said.

But he did not disclose any details about the law revision.

Mining is an important industry in Mongolia, accounting for a big chunk of government revenue.

The sector contributed approximately 33.7 percent of the country's GDP, and 65.9 percent of its industrial output in 2009.

However, the country's mining operations have drawn growing public criticism in recent years as they are a cause for environmental degradation.

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