Fourteen special permit bids for 90 designated exploration areas were announced and 30 special permits for exploration were granted in 2017.

The Mineral Resources and Petroleum Authority (MRPA) stated that 14.2 billion MNT in state revenue was generated from the special permits granted. The remaining exploration areas, which investors passed over during the license auction, have been made eligible for licensing through an application process.
The MRPA said that the granting of special permits was based on a company’s bid and their technical capacity. The MRPA has proposed that special permits be eligible for return to the government if the company that receives the license doesn’t invest in the field within an agreed upon timeframe.

Published Date:2017-11-10