Forum debates model mining agreement
The President’s Office last week organized a two-day conference on proper development of the mineral sector under the auspices of Davos Economic Forum, an organization set up under suggestions from President Ts.Elbegdorj. It was attended by representatives from the Government, investors, civil unions and experts in the field.
The delegates discussed ways out of problems, shared opinions and gave suggestions. They did not focus on individual projects but talked about developing a model mining investment agreement, and referred to the good and bad points in several such agreements in the mining sector.
With little experience in such things, Mongolia has generally followed agreements in vogue in other countries, only to find that they are not very suited to local conditions. In most cases the agreements have been found to be more partial to the investors than to national interests. The conference aimed to identify the parameters of a model agreement with mining investors in Mongolia.
Deputy Director of the Global Industry Center at the World Economic Forum, Alex Wong, said the work would take between 18 and 24 months to prepare a model as all existing agreements will first have to be studied thoroughly.
The delegates discussed ways out of problems, shared opinions and gave suggestions. They did not focus on individual projects but talked about developing a model mining investment agreement, and referred to the good and bad points in several such agreements in the mining sector.
With little experience in such things, Mongolia has generally followed agreements in vogue in other countries, only to find that they are not very suited to local conditions. In most cases the agreements have been found to be more partial to the investors than to national interests. The conference aimed to identify the parameters of a model agreement with mining investors in Mongolia.
Deputy Director of the Global Industry Center at the World Economic Forum, Alex Wong, said the work would take between 18 and 24 months to prepare a model as all existing agreements will first have to be studied thoroughly.
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