Mongolia grants 30 special permits for exploration in 2017

Oyundelger 2017-11-10 09:11

Mining

The Mineral Resources and Petroleum Authority reported that 30 special permits for exploration were granted with the announcement of fourteen special permit bids for 90 designated exploration areas.

Mongolia grants 30 special permits for exploration in 2017. The Mineral Resources and Petroleum Authority (MRPA) reported that 30 special permits for exploration were granted with the announcement of fourteen special permit bids for 90 designated exploration areas. With the grant of the special permits, about 14.2 billion MNT state revenue was generated noted the MRPA. The remaining exploration areas, which investors passed over during the license auction, have been made eligible for licensing through an application process. The MRPA said that the granting of special permits was based on a company’s bid and their technical capacity. The MRPA proposed that special permissions are able to be withdrawn to the government in case if the license owner company doesn’t invest in the field within an agreed upon timeframe.