The Mineral Resources Authority (MRA) to grant exploration license in 20 million hectares of land in Eastern starting from Aug 24th and to continue the work of granting license located West from the 104 degrees longitude.
The Government of Mongolia resumed the exploration licensing in 2014 which has been revoked for four years and submitted to cover 19.9 percent of total Mongolian territory. From the beginning of this year, exploration license in Western have started to be granted by the application. Therefore, total of 453 license were granted to entities so far.
In other words, exploration licenses were granted to one in four online applicants. Currently, there are 1.1 thousand entities have applied for the license of which 94.6 percent were domestically invested, four percent were foreign invested and remaining percent were joint invested entities.