PARLIAMENT DISCUSSES AMENDMENT TO LAW ON MINERALS

Ulaanbaatar /MONTSAME/ A parliamentary session on Thursday morning ran a first discussion on amendments to the law on minerals. D.Ganbat MP, a head of relevant working group, introduced a summary of preliminary discussions on the amendment bill at a meeting of the Standing committee on Economics, where its members had advised to make the bill come into force since the date it passes. Mr Ganbat said his group had developed the bill based on experiences of other countries and noted the amendment bill is expected to open an opportunity to build up national gold reserves of over 20 thousand tons, excluding that from Oyu Tolgoi LLC. Furthermore, the gold reserves will help strengthen the rate of the national togrog against foreign currencies, thus improving purchasing power of Mongolians, he said.