Minerals Law.

The purpose of this Law is to regulate prospecting, exploration and mining of minerals within the territory of Mongolia. This law shall be applicable for exploration and mining of all types of mineral resources except water, petroleum and natural gas. Mineral resources naturally occurring on and under the earth's surface in Mongolia are the property of the State. The State, as the owner, has the right to grant exploration and mining rights as set forth in the terms and conditions of this law. Mineral deposits are classified as following: (a) deposits of strategic importance; (b) deposits of common minerals; and (c) deposits of conventional minerals. Competent Government Agency in the sphere of subsoil management shall have the following plenary powers: (a) provide the public with access to the processes of issuing and reissuing of licenses, license revocation, transfer, pledge and surrender of for the entire or a part of the licensed area; (b) receive, register and make decisions with respect to applications for licenses; (c) maintain the registry of licenses; (d) maintain the cartographic registry of licenses; (e) issue exploration and mining licenses; and (f) collect service and license fees.