A moratorium on new mining exploration licences in Mongolia could be lifted during the spring session of parliament, Mongolia's mines minister said, as it works to lure back foreign investment after a slump last year.
A ban on the issuing and processing of licences has been in place since June 2010, leaving many projects in the mineral-rich country in limbo.
But that could change for some if parliament addressed "many discrepancies" in previous mining laws next month, Mines Minister Gankhuyag Davaajav said on Tuesday.
"I do believe that ... in the spring session we should be able to have this resolved," Davaajav said following a Mongolia business conference held in Toronto, Canada.
Foreign direct investment in Mongolia has dropped for the past two years, coinciding with a string of moves by the government that discouraged stakes in copper and coal.
In an about-turn, the parliament passed an investment law in November that gives equal treatment to foreign and local investors to try to tempt back investors.