Minerals Law
From Mongol Studies Online Reference
The Minerals Law of Mongolia governs Mongolia's significant natural mineral resources. The purpose of the law is to,"regulate relations with respect to exploration, mining and related activities within the territory of Mongolia." [1] The laws, when implemented in 1997, were generally seen to be investment friendly and attracted quite a bit of foreign investors to Mongolia's mining industry. The subsequent mining boom in Mongolia was attributed to the passing of these laws. The supposed intent behind the laws was to create an environment where foreign companies would be willing to conduct exploration and purchase licenses which would eventually lead to excavation and production. It was assumed that this arrangement would be beneficial to both the licensee and to Mongolia.[2]
