The third largest mining giant opened its’ representative office in Mongolia this month. The company has a track record of being most socially responsible natural resources company.
The President and Chief Representative of the Anglo-American Mongolia office is recently resigned Chief Operating Officer of state-owned Erdenes Tavan Tolgoi JSC, Mr. Graeme Hancock. Previously he worked shortly as a Director of Strategy and Business Development at Rio Tinto after his career as a senior mining specialist at the World Bank office in Ulaanbaatar.
Erdenes Tavan Tolgoi JSC is amid financial trouble after failing to have enough resources paying for coal export logistics. Mongolian government is considering to cancel the USD250 million agreement with Chalco and fuel the further operation with newly issued Chinggis-Bond.
Mr. Greame Hancock told Bloomberg News that he looks forward to building strong working relationships with the government, the business community, civil society and the local communities. These relationships, built upon dignity and respect, are essential for the company to become a valued development partner for Mongolia.
It is a great step for Anglo-American accepting the challenge despite the tightening laws and regulations on foreign investment on strategic industries. The second biggest global mining giant is in talk with the government to resolve major issues around the Oyu Tolgoi copper-gold project.