Parliament to discuss issue of SouthGobi Sands LLC
MPs D.Gankhuyag, S.Erdene, G.Bayarsaikhan and L.Gundalai held press conference on Tuesday.
D.Gankhuyag informed that the DP caucus at Parliament established a working group on strategic deposit mines issues. Parliament ratified the law on mineral resources in 2006 and it named 15 strategic deposit mines in 2007. Only Oyutolgoi deposit mine is circulated in economics by foreign companies’ investment.
Other 14 deposit mines are named after exploration.
He said that the Government should instruct state owning at strategic deposit mines because Tumurtei and Tavantolgoi deposit mines have been mined by private companies while Parliament has decided to name ownership along its 27th protocol.
S.Erdene stated that exploitation situation of 14 strategic deposit mines have not been informed by details. The mining sector minister has not given information despite of demand. There are many evidences that national security alarm because foreign companies have more work in mining sector than domestic mining companies. He added that Parliament Office has researched a survey that Oyutolgoi would take profit to Mongolia. But the survey answered Oyutolgoi would not take profit to Mongolia because the Government of Mongolia has not worked to take 50 percent of Mongolian participation after the first investment payback.
Besides, there is a conclusion that Mongolia would lose at least USD2 billion in exploitation of Oyutolgoi.
S.Erdene also noted that the Government should support national companies. For example, Energy Resource invests Ukhaakhudag mining and it shows that Mongolian companies have skill to work at mining. He emphasized that the law on mineral resource should be promptly amended. The Government has not informed about strategic deposit mines and political and economic some groups have illegally exploited deposit mines, he said.
G.Bayarsaikhan told that giving 28 special licenses to foreign companies and selling 71 percent of shares to Chinese Chalco, LLC SouthGobi Sands LLC has violated legislation. Parliament will discuss the issue of SouthGobi Sands LLC. The DP caucus decided to discuss it at parliament session and at meetings of the Standing Committees. The company issue should be decided within 29 days and Parliament will demand the company to clarify the issue. MP S.Byambatsogt has submitted a draft law to limit foreign investment to deposit mines by 15 percent. He noted MPs support the draft law.
D.Gankhuyag added that mining area of SouthGobi Sands LLC could be written to strategic deposit mine and the company active could be transferred to Erdenes MGL company count.
S.Erdene said that each citizen’s 1072 shares would be from Tavantolgoi deposit mine and if citizens would own shares from all deposit mines, people could have large income. People should take accountability to the MPP during parliamentary election.
D.Gankhuyag informed that the DP caucus at Parliament established a working group on strategic deposit mines issues. Parliament ratified the law on mineral resources in 2006 and it named 15 strategic deposit mines in 2007. Only Oyutolgoi deposit mine is circulated in economics by foreign companies’ investment.
Other 14 deposit mines are named after exploration.
He said that the Government should instruct state owning at strategic deposit mines because Tumurtei and Tavantolgoi deposit mines have been mined by private companies while Parliament has decided to name ownership along its 27th protocol.
S.Erdene stated that exploitation situation of 14 strategic deposit mines have not been informed by details. The mining sector minister has not given information despite of demand. There are many evidences that national security alarm because foreign companies have more work in mining sector than domestic mining companies. He added that Parliament Office has researched a survey that Oyutolgoi would take profit to Mongolia. But the survey answered Oyutolgoi would not take profit to Mongolia because the Government of Mongolia has not worked to take 50 percent of Mongolian participation after the first investment payback.
Besides, there is a conclusion that Mongolia would lose at least USD2 billion in exploitation of Oyutolgoi.
S.Erdene also noted that the Government should support national companies. For example, Energy Resource invests Ukhaakhudag mining and it shows that Mongolian companies have skill to work at mining. He emphasized that the law on mineral resource should be promptly amended. The Government has not informed about strategic deposit mines and political and economic some groups have illegally exploited deposit mines, he said.
G.Bayarsaikhan told that giving 28 special licenses to foreign companies and selling 71 percent of shares to Chinese Chalco, LLC SouthGobi Sands LLC has violated legislation. Parliament will discuss the issue of SouthGobi Sands LLC. The DP caucus decided to discuss it at parliament session and at meetings of the Standing Committees. The company issue should be decided within 29 days and Parliament will demand the company to clarify the issue. MP S.Byambatsogt has submitted a draft law to limit foreign investment to deposit mines by 15 percent. He noted MPs support the draft law.
D.Gankhuyag added that mining area of SouthGobi Sands LLC could be written to strategic deposit mine and the company active could be transferred to Erdenes MGL company count.
S.Erdene said that each citizen’s 1072 shares would be from Tavantolgoi deposit mine and if citizens would own shares from all deposit mines, people could have large income. People should take accountability to the MPP during parliamentary election.
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