Amid soaring copper prices, Mongolia seeks to regain control over the large-scale copper mine Oyu Tolgoi. Mongol News Agency: G. Damdinyam: Negotiations on the Oyu Tolgoi project investment agreement are progressing actively.
Mongol News Agency, Ulaanbaatar, May 7 — Following a government meeting held on May 6, Minister of Industry and Mineral Resources G. Damdinyam provided updates on the Oyu Tolgoi project investment agreement. A working group led by the Minister has been established to negotiate issues such as reducing management fees and improving governance at the Oyu Tolgoi project.
Minister G. Damdinyam stated, "The negotiations are progressing very smoothly and have already yielded tangible results. First, we have broken the seven-year deadlock on loan interest rate talks. Second, we have reached an agreement to continue negotiations until a final outcome is achieved. Third, we are developing relevant solutions to align both loan interest rates and management fees with international standards. The Rio Tinto team conducting the negotiations will arrive in Mongolia on the 12th of this month."
Original article: toutiao.com/article/1864504429855756/
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