The Australia Mongolia Extractives Program (AMEP2) hosted an event on mining royalties and taxes on 23, 24 May, 2023, as part of its ongoing support to the Mongolian government in its development of a sound fiscal regime for the extractives sector, that can balance the interests of investors and society, promote sustainable development, enhance transparency and accountability. On the first day, 70 participants including government officials from the National Geological Survey (NGS), the Mineral Resources and Petroleum Authority of Mongolia (MRPAM), and the Ministry of Mining and Heavy Industry (MMHI) attended. On the second day, some 80 members and representatives of business councils and associations such as AustCham, Mongolian National Chamber of Commerce and Industry, Euro Chamber and AmCham attended.
 
The event featured a presentation by AMEP’s experts on mining royalties and taxes, covering topics such as international best practices and trends, the current situation and challenges in Mongolia, and a cost-benefit analysis as well as a legal review of the existing and proposed fiscal instruments. The presentation also outlined three royalty options for reforming the current system in Mongolia, based on different objectives and criteria.
 
The event also provided an opportunity for the participants to discuss and provide feedback on the presentation, as well as to exchange views and experiences on the issues related to royalties and taxes and the current draft minerals law. The event was facilitated by AMEP consultants, as well as the Ministry of Mines and Heavy Industry, who also answered questions and clarified doubts raised by the participants. AMEP2 conducted 2 previous events that saw a total of some 90 attendees representing industry and civil society.