Amid high copper prices, Mongolia and Rio Tinto, an Australian-British mining company, have had differences over the profit distribution of the Oyu Tolgoi copper-gold mine: The Mongolian side stated that it temporarily cannot accept Rio Tinto's proposal.
Mongolia News Agency, Ulan Bator, March 10th. On the 9th of this month, the Prime Minister of Mongolia, Gankhuyag Zandanshatar, met with officials led by Katie Jackson, CEO of Rio Tinto's copper business, and put forward specific requirements regarding the Oyu Tolgoi project.
The Prime Minister of Mongolia, Gankhuyag Zandanshatar, wrote to Oyu Tolgoi and Rio Tinto Group in January 2026 regarding the issue of safeguarding Mongolia's interests in the Oyu Tolgoi project and put forward several requirements.
According to these requirements, Rio Tinto Group's CEO Simon Trott replied on February 5th this year, stating that the company is willing to conduct open and productive negotiations based on the shared interests of ensuring the long-term stable operation of the Oyu Tolgoi project.
As a result, a delegation led by Katie Jackson, CEO of Rio Tinto's copper business, visited Mongolia. When Katie Jackson met with the Prime Minister of Mongolia, Gankhuyag Zandanshatar, she introduced several proposals regarding management costs and high interest rates on shareholder loans.
Prime Minister Gankhuyag Zandanshatar stated that he thanked Rio Tinto Group for respecting the negotiations with the Mongolian government and bringing some progressive proposals. However, the proposals put forward by Rio Tinto at present are still insufficient, and therefore they cannot be accepted temporarily.
Original source: toutiao.com/article/1859304122174464/
Statement: This article represents the views of the author.