Today, the Director of Erdenes OT , 34% shareholder of Oyu Tolgoi LLC, has been replaced by the politician, former Deputy Governor and an economist Da.Ganbold. It has been approximately 9 months since the previous Director Ts.Sedvanchig has been appointed to the post. Da.Ganbold holds PhD in Economics from Moscow State University.
Controversy struck out after the letter was sent out to Rio Tinto indicating that the project finance approval should be discussed at the parliament level. Today, on an interview Ts.Sedvanchig stated that the letter had the full approval of the PM, and under his guidance. He also said if the the country needs to sacrifice him, it can proceed for the sake of the country. Still, he holds a hardliner position against Rio Tinto’s conducts in the country.
First Director of Erdenes OT D.Batbaatar has been replaced by Ts.Sedvanchig on last December after Democratic Party took over the key positions of state-controlled companies and agencies. It seems like the hardliner position on Rio Tinto has not been changed so far after the cost overruns and other crucial issues came into government’s attention.
Ts.Sedvanchig also singled out that the conditions being forced by Rio Tinto has been a debt conditions that will pass on generations. Thus, he will not support these conditions – news.mn reported.
Another interesting news is that the 3 boards members who sit on OT LLC’s board will be changed soon and the Mongolian side will visit London to have talks with Rio Tinto.