Mongolia Minerals Law Threatens Biggest Coal Project, Group Says
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Proposed changes to Mongolia’s mining laws threaten the viability of the nation’s biggest coal project at Tavan Tolgoi and will further deter foreign investment, the Business Council of Mongolia said.
The legislation, which will give the state the right to a free stake in many mineral projects, will take the country away from the free-market principles practiced there since the early 1990s, Mongolia’s largest business group said in a four-page letter sent to President Tsakhia Elbegdorj’s office on Jan. 7. The letter, made public by e-mail yesterday, came after the draft laws were published last month.