announcement to clarify the report made by independent auditors in its annual results
announcement regarding certain licences which may be affected by the Mining Prohibition
Law (MPL).
Mongolia Energy Corporation currently has in total 21 mining and exploration licences
under its concessions in Mongolia and has 4 mining licences and 1 exploration licence
which may be affected by the MPL. Upon its enquiry with the Mineral Resources Authority of
Mongolia, the authority replied that the boundary lines of restricted areas as defined by
MPL have not been determined nor announced to the public and Mongolia Energy Corporation
was also informed that it could continue to operate normally under the Minerals Law of
Mongolia.
Mongolia Energy Corporation said its mining and exploration activities under concessions
are conducted as usual and have not been affected by the MPL since the passing of the MPL
on 16 July 2009. (HL)
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00276 MONGOLIA ENERGY
Nominal 
0.620 0.000 (0.000%) Others
05/07/2011 09:34
Mongolia Energy (00276) says concessions unaffected by MPL
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