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Reuters reported that Mongolia’s government could implement a rule change that would allow it to swap its equity in mining projects for higher royalties. Prime Minister Chimed Saikhanbileg will propose the amendment to mineral resources law on Friday. The change could help the government earn more profit more quickly from mines in the country.
Reuters reported that Mongolia’s government could implement a rule change that would allow it to swap its equity in mining projects for higher royalties. Prime Minister Chimed Saikhanbileg will propose the amendment to mineral resources law on Friday. The change could help the government earn more profit more quickly from mines in the country.
As quoted in the publication:
Mongolia has 16 strategic deposits, including Oyu Tolgoi and the Gatsuurt gold deposit currently licensed to Toronto-listed miner Centerra Gold Inc. These deposits have the potential to generate at least 5 percent of the country’s GDP.
The government currently takes a minimum of 34 percent equity in strategic deposits but could ask for up 50 percent if state funding was used for exploration.
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