Mongolia Business and Mongolian Daily Business News

Oyutolgoi Investment Agreement, which has been signed last October, shall come into effect on April 6 of this year and Oyutolgoi LLC shall commence its operations officially. Oyutolgoi is preparing all plans and projects until the effective date.

However it didn’t provide the feasibility study, which has been rejected because officials explained there were some issues to be clarified. As reported by Oyutolgoi, there are 2-3 issues including water supply and resource. In order to clarify whether Oyutolgoi has spent over USD one billion for the project, the audit and tax reviews are being carried out. It will not start recruiting employees until the effective date.

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