Mongolia allocates soft loans to gold explorers - News.MN

Mongolia allocates soft loans to gold explorers

Mongolia allocates soft loans to gold explorers

To date, 548 gold licenses have been issued in Mongolia. As a part of the Gold-II programme by the Mongolian Government, soft loans totaling MNT 107 billion have been allocated to gold explorers. As a result, Mongolia has earned over USD one billion in revenue from gold exploration.

The Central Bank of Mongolia – or Mongol Bank – bought 2.3 tonnes of precious metals from entitles in September. In the first nine months of 2020, the bank purchased 17.1 tonnes of gold; this is an increase of 6.0 tonnes compared to same period last year.

 

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