Mongolia Suspends Issuance of Mining Licenses: "President Elbegdorj Tsakhia said Tuesday that the government won't issue any more mining licenses until Mongolia's mineral laws have been revised.
"We have 2,253 exploration licenses, 1,255 mining licenses issued out in Mongolia now," Elbegdorj said during a public discussion on the issue held by his office. "That's enough. Why do we rush to dig our mineral wealth? No more licenses will be given. Let's improve our law.
The president, who has spearheaded the drive to upgrade Mongolia's mineral alws, said he was discouraged by the the lack of "common understanding over the law" and "unsuccessful policies on Oyu Tolgoi."
The discussion was held one day before a scheduled meeting of the government and Rio Tinto, the country's largest international investor."
'via Blog this'
