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During the monthly Ministry of Mines media briefing, the Minister spoke about the Centerra Gold’s operations at Noyon Uul license area.

Minister clarified that the mining activities to be launched this spring. According to Minister R.Jigjid, representatives of Centerra Gold, Canada, led by President Frank Herbert visited Mongolia twice and held negotiations on Gatsuurt Investment agreement and project development.

Parties had agreed to finalize the agreements in the near future. Centerra Gold requested to sign an Investment agreement with the Government of Mongolia. Minister also highlighted that the company shall sign partnership agreement with local communities of Mandal soum, Selenge province.

Negotiations with the company or project owners are ongoing, Minister said. The Government of Mongolia shall own 34% of the project in accordance to the Law. Ministry officials estimate that Mongolian Government shall receive US$432.3 m or MNT500 billion for nine consecutive years. The Gatsuurt project shall pay five types of taxes.

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Монгол эхийг унших бол энд дарж орно уу