At its regular meeting on August 8, the Cabinet approved coordinates of areas eligible for exploration licenses. It aims at ensuring sustainable mining activities, stimulating economic growth, increasing mineral resource reserves and attracting external and internal investment.
Approval of the coordinates enacts announcing tenders for about 170 fields this year. In other words, a tender for 25-30 fields (one field’s average size is 5000 hectares) will be conducted twice a month. It is estimated to accumulate roughly MNT25 billion to the state budget.
Some 8.48 million hectares of area to be issued by tender covers 5.56 percent of the country’s total territory and are not overlapped with areas of valid licensed, special needs, specially protected and state reserve.