Future of the gold sector discussed
The gold industry of Mongolia has had stable growth over the last four years after improvement of legal environment.
The gold industry of Mongolia has had stable growth over the last four years after improvement of legal environment, said gold producers at the the Second Mongolia Gold international investment and technology conference. The conference was held with purposes to find solutions in gold investment, build and expand cooperation in gold mining and exploration projects, facilitate business networking, bring gold exploration and research into new development stages and introduce the latest technologies in gold mining. The gold producers in cooperation with the Government of Mongolia have carried out a number of measures directed at enriching the treasury fund of Mongolia and improving the legal environment on foreign exchange in the last five years. As a result, gold miners submitted around 20 tons of gold to the Bank of Mongolia in 2017, contributing USD 800 million to the state budget. At present, Mongolian gold miners are conducting exploitation on more or less 550 licensed areas and exploration on 1,100 licensed areas. The number continues to increase.
source: www.montsame.mn
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