Mongolia Suspends Mining Licences

24 November 2010 (Last Updated November 24th, 2010 18:30)

Mangolia's department of mineral resources and energy has suspended nearly 1,800 mining licences, more than a year after the government passed a law to protect the country's environment. Nearly 254 gold-mining licences are also planned to be cancelled to conform with the law. The

Mangolia’s department of mineral resources and energy has suspended nearly 1,800 mining licences, more than a year after the government passed a law to protect the country’s environment.

Nearly 254 gold-mining licences are also planned to be cancelled to conform with the law.

The licences have been revoked under a law passed in July 2009, which prohibits mining in forested areas and river basins, accounting for less than 10% of the largely desert country.

The country has formulated regulations to compensate licence-holders facing losses as a result of the law, according to AFP.

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