Yesterday, the Economical Standing Committee held the final discussion on the Gatsuurt gold deposit, and as a result of which, it is to be officially discussed in Parliament.
If Parliament decides to develop the Gatsuurt gold deposit, the company which holds the licence will pay the natural resource exploitation tax. Subsequently, Mongolia will not finance the 34% of Gatsuurt.
“Centerra Gold Mongolia” owns the special license of the Gatsuurt gold deposit. The “proven” reserves of Gatsuurt are 40 tons of gold. If the development of Gatsuurt deposit goes ahead, “Centerra Gold Mongolia” will be expected to pay USD 433.6 million in taxation. In addition, approximately 1000 jobs will be created.