Appendix 1 of the resolution of the State Great Khural: MAIN PRINCIPLE AND GUIDANCE OF MAKING THE INVESTMENT AGREEMENT ON JOINT EXPLOITATION OF TAVAN TOLGOI COAL MINE

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MAIN PRINCIPLE AND GUIDANCE OF MAKING THE INVESTMENT AGREEMENT ON JOINT EXPLOITATION OF TAVAN TOLGOI COAL MINE
1. The agreement must be built in accordance with the effective law and regulations of Mongolia
2. To study the possibility of securing the Mongolian side ownership in a stock holding company which will be established on Tavan Tolgoi coal mine, not less than 51%.
3. To study the alternatives of making the investment agreement based on the product share principle.
4. To effectively implement the payment of mineral resource exploitation, its calculation and distribution in accordance with the mountain-geological condition and reserve size of the deposit, as stated in the provision 47 of the Mineral Law of Mongolia and to receive the certain portion of the payment of the mineral resource exploitation and taxes in advance. 5. To negotiate in replacing the investment of the Mongolian side with the payment of mineral resource exploitation, taxes, fees, dividends and loans.
6. To insert the issues of city building and buildings and complexes of infrastructure such as supply of energy, roads, railroad and water those are essential for the deposit, in the agreement.
7. To pursue the principle of producing the final product as much as possible and must agree upon the production phases and product types.
8. To agree upon the national human resource training program and plan according to the laws and regulations.
9. To insert provisions of utilization of up to date environmentally friendly and sound techniques and technologies and implementation of environmental recovery works in every phase of the exploration and exploitation.
10. When making a n agreement and developing proposal, to start with the proposals of financially potential and well-known foreign and domestics companies with vast experience in mining.
11. To seek advice and consultancy of the internationally recognized and reputable consultancy organizations.
12. To agree upon the agreement term according to the provision 29.3 of Mineral Law of Mongolia.
13. Not to allow or grant discount, waive and freedom beyond the limit of effective laws and regulations of Mongolia

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