just thought this is interesting and glad we don't have to worry about such issues here.
The Mongolian government lobbed a large artillery shell into the center of the international mining camp on November 19, by announcing that it was suspending close to 1,800 mining licenses. That’s nearly half the country’s total of 4,000, and it includes 254 gold mining licenses.
At issue is a law passed in July 2009 that prohibits mining in forests and river basins. Although such areas account for less than 10% of a country that is largely desert, many Mongolians consider the ground sacred and are reluctant to dig, fearing it may upset the balance of nature. In October, green groups staged protests in Ulan Bator, demanding that the government resign if it did not crack down on environmental offenders.
The Resources and Energy Ministry, which is conducting the review, stated that the names of the affected companies would be released within a few days, but so far that information has not been forthcoming.
No doubt, nerves are starting to fray in some quarters. Mongolia – with its rich deposits of copper, gold, uranium, silver, and oil – has attracted increasing investment interest in recent years. Companies from the world’s largest miners to small Canadian startups have set up shop there. Just last year, after years of negotiations, the government agreed to a multi-billion-dollar deal with Ivanhoe Mines and Rio Tinto to develop one of the planet’s premier copper deposits.
