Cabinet to accelerate the development of Oyu Tolgoi project

Apr 21 • Economy, Mining, News, State Affairs • 1915 Views • No Comments on Cabinet to accelerate the development of Oyu Tolgoi project

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The OT project has already started the commercial production and scheduled to commence exporting the concentrates to China based smelters. OT has committed 75-90% of its’ product for sale with 3-5 smelters all located in China. Marketing strategies include swap contracts and direct supplies to smelters.

Some complaints from the project company, Oyu Tolgoi LLC, have been heard that the government agencies delay the licenses, permits and approvals necessary for the mine-development. Therefore, on 20th of April, 2013, the PM charged the Mining Minister Gankhuyag D to speed-up the land, foreign labor force, customs documentation permits and take actions on solving water, environmental, power plant, third-party laboratory, and infrastructure issues.

Mongolian government is still on dispute with Rio Tinto regarding the cost-overruns and some compliance matters. The shareholders’ meeting is planned to resume after the joint working group finishes its investigation.

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