IN MAY THERE WERE ISSUED ELEVEN LICENSES OF MINING AND TWO LICENSES OF EXPLORATION
The Mineral Resources and Petroleum Authority reported that in May there were issued 11 licenses of mining and two licenses of exploration.
Also, 40 licenses were expired or been canceled. As of May, 56 percent of the valid mining licenses were for mining and 44 percent were for exploration. Exploration licenses are being awarded through tender selection. Mineral Resources and Petroleum Authority reported that according to the average of last eight years, the majority of exploration expenditure which is 46.8 percent was for drilling and 10.1 percent was for geophysical survey. The amount of capital planned to be invested to exploration by companies slightly increased and is 221.2 billion MNT.