Mongolia Defends Draft Mining Law Branded as Bad for Investment
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Mongolian officials held a briefing yesterday to defend proposed changes to a mining law that the country’s biggest business association says would deter investment.
Puntsag Tsagaan, the mineral policy adviser to President Tsakhia Elbegdorj who led the legislation’s drafting, said the proposed law would strengthen the economy, better protect the environment and ensure Mongolians benefit from the country’s mining boom, according to James Liotta, a partner at Mahoney Liotta LLC, who attended the meeting in the capital Ulan Bator. Representatives of Peabody Energy Corp., Aspire Mining Ltd. and Centerra Gold Inc. were among the attendees, Liotta said.