Mongolia Business and Mongolian Daily Business News

Irregular Cabinet Meeting was held yesterday and issues such as draft law on investment agreement on Oyu Tolgoi and its relevant amendments in the related laws, Draft investment agreement between Government of Mongolia and Ivanhoe Mines Mongolia Inc. and shareholders’ draft agreement were discussed. Twice considered draft agreement by the Cabinet Meeting was discussed and supported by the National Security Council, February 29 2009, and NSC instructed to renew negotiation on certain provisions and clauses. Based on the recommendation, working group made request to the investor to renew negotiation and make some additional amendment on the agreed draft version.

Cabinet Meeting made decision to insert comments of MPs and present the draft for the State Great Khural for its discussion and approval.
The Government is to make resolution on granting power of put initials on the draft investment agreement on Oyu Tolgoi to Mr. S.Bayartsogt, Minister for Finance, Mr. D.Zorigt, Minister for Minerals Resource and Energy and Mr. L.Gansukh, Minister for Environment and Tourism.

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