The Minister of Mining D.Gankhuyag is on an official visit to Canada until March 6th.

For the visit Mining Minister D.Gankhuyag will meet the Minister of International Trade of Canada, Ed Fast and will participate in the “PDAC 2014”, the biggest gathering of mining investors, as the head of representatives from the Mongolian government.

The Mining Minister of Mongolia will deliver a presentation relating to the issues of policy of the government on the mining industry, the investment environment, competitiveness in the legal environment and building stability.

Earlier in the visit, Mining Minister D.Gankhuyag met the Minister of Natural Resources of Canada, Joe Oliver.

The Minister of Natural Resources of Canada, Joe Oliver mentioned the legal environment in Mongolia is  becoming more stable and noted that Mongolia and Canada have been co-operating in the mining sector. The Minister added that Canada is willing to support the training in human resources in the mining industry of Mongolia  and offered the possibility of retraining in Canada.

Mining Minister D.Gankhuyag emphasized that in the 1990s, Canadian geologists arrived in Mongolia just after the Democratic revolution. There are currently over 40 Canadian mining companies with businesses in Mongolia. He went on to say that Mongolia is the country where the tax is the lowest in Asia, in particular, it has less tax pressure than in other mining countries.

In the past 15 years, Canadian mining companies have funded the investment of a total of 1.5 billion US dollars for mining exploration and prospect.

Since the first Canadian mining company “Mongolian Gold Resources” opened in Mongolia in 1993, Canadian invested mining companies operate in Oyutolgoi, Boroo Gold,  Zuun mod and Khotgor deposits.