Mining Minister: OT LLC showed us the Sales Agreement

Jul 5 • Featured, Mining, News, State Affairs • 2147 Views • No Comments

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15_Feb_2011_Sales_Graphic

Today, at the State Great Khural session, Mining Minister D.Gankhuyag stated that one of two issues prevented OT LLC to commence the concentrate shipment has been resolved. Yesterday, OT LLC started showing the Sales Agreement which was a demand from the government. As a shareholder, the government asked OT LLC management to disclose the Sales Agreements to the Mongolian side board members.

The other issue is that OT LLC sales transaction must take place through Mongolia-based banks. The reason being that OT LLC is a Mongolia registered company and its transaction must take place via company registered bank accounts.

We will update our readers in due course.

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