Oyu Tolgoi agreement would face amendment again

Sep 21 • Government, Mining, News • 1086 Views • No Comments on Oyu Tolgoi agreement would face amendment again

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Oyu Tolgoi agreement would face amendment on its second “anniversary” of the signing ceremony. Two or three amendments can be expected for this time. The Mongolian side made initiative to amend the agreement on certain provisions such as the additional ownership of the Mongolian side up to 50% and additional payment. “The Mongolian side is keen on increase of its ownership and the rest can be negotiated with its counterpart” said source closer to the issue.

Minister D.Zorigt informed to media, after the Cabinet Meeting that he received a task to initiate negotiation with Oyu Tolgoi from the Government. He also concluded that the agreement is made according to the Resolution 57 of SGK, and appreciated the current development on the agreement with Oyu Tolgoi LLC. OT development has big impact on the Mongolian economy and its society he added.

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