New Mining Law

This law allows the Mongolian government to “acquire up to 34% of ‘strategic mineral deposits that were discovered in privately financed explorations and up to 50% of publicly financed discoveries[1].” The royalty tax on extracted minerals is increased from 2,5% to 5% although amended almost yearly since (Hatcher 2016:479).

Costs by mining companies could be amortised for 5 years and losses deducted from tax for 2 years after incurring them.

[1] https://www.state.gov/e/eb/rls/othr/ics/2013/204697.htm retrieved 7 September 2018