Investment agreement on OT project is discussed Friday, July 8 2009

Jul 8 • Government, Mining • 499 Views • 12 Comments on Investment agreement on OT project is discussed Friday, July 8 2009

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Tomorrow, the Investment agreement on OT project will be discussed by the State Great Khural. It might be discussed closed to media, some sources confirm. There around 10 MPs are against already the approval and the same size is for the aprroval of the agreement. The rest of MPs are remain unclear.

Business-mongolia.com will be close to the development and report it from SGK session.

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12 Responses to Investment agreement on OT project is discussed Friday, July 8 2009

  1. investor says:

    How many MPs are voting? Do they need a majority vote to pass? Do you still think it will pass? Thanks.

  2. jato says:

    If the Windfall Tax (Resource Use Fee or whatever it’s called) is included, the IA will be DOA. IVN has stated that it will not agree to be bound by a 68% windfall profits tax. IVN / RTP have made it clear that the maximum total Effective Tax Rate they can make a fair profit with is 55%.

  3. Eric says:

    What is the support for the newly named Resource Use Fee in parliament?

  4. Barry says:

    How about publishing the names of the MPs and how they vote?
    The citizens have a right to know.
    The MPs and the president talk about transparency,,,,,this is their chance to show it.
    These discussions should be on the Mongolian equivalent of C-Span, if their is such a thing.
    Are people aloud into the Parliament chambers where and while these discussions are happening?
    Amarsanaa, we are counting on you, the entire world is watching.
    Bloomberg and Reuters keeping a track, but they seem to be a day behind the news.
    The next 2 days are going to be the longest days I have had in a very long time.
    Is it true that the GDP of Mongolia was $5 billion for 2008.
    IVN / RTP could spend that much on infrastructure in the next few years. Is this important to Mongolias economy?
    “B”

  5. eric says:

    Jato,

    what would be helpful for your readers would be to explain the process of voting in the Parliament.

    There are 76 MP’s. How many are needed to push the vote through?

  6. morris shenberg says:

    What are those politicians thinking??? What’s the dilenma 100% of nothing is NOTHING or 34% ownership of the richest gold and copper mine? Go figure.

  7. investor says:

    IVN has verbally confirmed that an investment agreement between the company and the government of Mongolia has received approval from the heads of the country’s two major political parties in Mongolia, according to Desjardins Securities analyst John Redstone.

    See National Post for the rest of the article.

  8. Purev says:

    Why do you need names members of Mongolian Parlamentary who vote against or in favor of IV OT project? Want to know how did work your lobby or barbery? We, Mongolians know that barberies at the gate.

  9. OTuten says:

    What barbers are you talking about Purev. Do you have a long hair?

  10. Barry says:

    PUREV,
    Do you NOT believe that the voters should know what there elected officials are doing?
    Transparancy is key to democracy. As is the freedom of speech, and to criticise elected officials, IF, you do not like what they are doing. How do voters decide on who they elect to office?
    By what they do, or by what they say they are doing?
    Mongolian citizens I feel have a right to know.
    The Parliamentary discussions should be open to the public, they are in most countries.
    Thanks Amarsanaa, I think you are doing your country are great service reporting the progress of this issue.

  11. Barry says:

    Eric,
    It takes a majority vote to pass, that is 45 MPs.
    But I am sure that none of them want anyone to know how they vote.
    They could be voted OUT next election.

    Morris,
    We do not know as yet if there will be any ownersip % by Mon or not. We won’t know that until it is done deal.
    When that might be??????
    But IVN / RTP know what they can live with and make a profit and what they cannot live with. They WILL NOT approve a bad deal.
    Now we wait. “B”

    I vote that they let reporters into the meeting room during discussions. Amasanaa,,, do you have a good video recorder:)
    Good Luck

  12. Check out latest news from Mongolia in English at http://mongolianviews.blogspot.com/. I will try to update it regularly…. a Mongolian journalist

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