Government to resume talks on Gatsuurt deposit

Ulaanbaatar /MONTSAME/ During its regular meeting on January 25, the Cabinet resolved to establish working groups designed to hold talks with Centerra Gold Inc, which holds a mining license in Gatsuurt gold deposit regarding the establishment of investment and exploitation agreements on the strategic deposit.

Representatives of the Ministry of Mining and Heavy Industry, Ministry of Finance, Ministry of Education, Culture, Science and Sports and Ministry of Environment and Tourism are included in the working group on exploitation agreement whereas those of the Ministry of Mining and Heavy Industry, Ministry of Finance, Ministry of Education, Culture, Science and Sports, Ministry of Environment and Tourism, Ministry of Foreign Affairs and National Development Agency are included in the working group on investment agreement.

The Gatsuurt gold deposit was defined a deposit of strategic importance by Parliament resolution issued on January 23, 2015. Moreover, Parliament resolution of February 4, 2016 fixed the Government ownership percentage of the deposit at 34 percent. Though a working group established by an ordinance of Prime Minister had been engaging in talks on exploitation and investment agreements in accordance with the above mentioned resolutions, the talks were at a halt. And now, the agreement talks are set to resume.