Mongolia has announced that it will issue mining exploration licenses starting September 24^th. The news was announced during a press conference held by Mining Minister D.Gankhuyag and Chairman of the Mineral Resources Authority of Mongolia D. Uurintuya on September 15^th. Officials say that the exploration and mining license issuing process has become completely regulated and will licenses will be issued on a scientific basis, not like the previous process.

Application numbers for licenses will be available online in order to provide more transparency in the procedure.

The move comes after Mongolian parliament passed amendments to the Minerals Law, which lifted a ban on the issuing and processing of new licenses, on July 1^st.

Under the amendments, areas that can be granted under exploration licenses will be determined and publicly reported based on the suggestions from the National Geology Office.

Mining Ministry officials hope that this will create the opportunity to conduct step-by-step surveys and analysis of Mongolia’s mineral resources, maintain a thorough database and national registry of mineral resources, increase economic growth and competitiveness, and attract more investment.

It is estimated that the areas that qualify for exploration licenses cover 19.88 percent of the nation's territory, or 31.09 million hectares.