Almost all of Mongolia's copper concentrates are exported to China and Russia.
The Mongolian State Professional Committee on Mineral Resources ("MSPCMR") and the Committee for Mineral Reserves International Reporting Standards ("CRIRSCO") have formed a joint working group to develop a Mongolian Code for Public Reporting Standard for Exploration Results, Mineral Resources and Mineral Reserves in Mongolia that is compliant with the CRIRSCO template.
The intention of the mineral laws was to grant licences for exploration which would lead to excavation and production that would be beneficial to the licensee and the nation. In 1997 it led to a boom in the mineral industry with an expansion in foreign direct investment in coal copper, gold and uranium.
Mineral Resources Authority of Mongolia a subordinate of Ministry of Mineral Resources and Energy
Department of Geological and Mining Cadastre (grants exploration licences)
Mongolia grants both exploration and mining rights through licences, all areas open to exploration other than reserves, special purpose territories, existing license areas, etc.