Source: Central Asia Metals                       Date: 10 February, 2011

Central Asia Metals’ gold exploration projects in Mongolia have been removed from the list of licenses the government was considering revoking. The country’s government on 17 November published a list of 254 mineral licenses that it intended to revoke, including three of CAM’s, prompting a letter from CAM questioning the inclusion of its licenses.

The list was drawn up in response to a law that would prohibit mineral exploration and mining in water basins and forest areas. The government responded to CAM’s letter saying that the company’s licenses were removed from the list because they were considered hard rock deposits and therefore not defined as alluvial. “It is pleasing to see the speed with which the Ministry responded to our request to review their decision on our Ereen license and gratifying to receive such a favorable response,” said CAM chief executive Nick Clarke. “Mongolia remains a key region for CAM and we remain committed to our exploration projects, namely, Alag Bayan copper/gold, Handgait molybdenum and the Ereen gold projects.”