Discussion Held on Extra Allocation of Royalty Tax to the Local Development Fund

Vice Minister of Industry and Mineral Resources Enkhtuvshin Begzsuren, together with relevant policy department officials held a meeting with Batkhuu Idesh, State Secretary of Ministry of Economic Development and other representatives discussed the proposed of amendments of the Law on Minerals.

During the meeting, officials reviewed the current state of mineral resource sector and examined draft amendments to the Law on Mineral. The discussion focused on Local Development Funds’ extra allocation of royalty tax to host provinces that embraced mining development. The policy makers also raised concerns on the double imposition of mineral resource royalties.

The counterparts exchanged views on policy options and agreed to continue close cooperation in advancing the draft amendments to the Law on Minerals.