With high copper prices and structural shortages of critical minerals, Mongolia has requested the major British-Australian mining company Rio Tinto to reduce management fees for its large copper-gold mine Oyu Tolgoi.
Mongolia News Agency, Ulaanbaatar, March 13th. According to information from the Mongolian Ministry of Industry and Minerals Resources, negotiations on reducing management costs for the Oyu Tolgoi project are being accelerated, with plans to complete them and make a final decision within March this year.
A working group established by the Prime Minister's Decree No. 68 is responsible for studying the issue of reducing the management fee percentage for the Oyu Tolgoi project. The group held a meeting with the investor - Rio Tinto Company on March 12th, continuing discussions on various proposals previously put forward at the working level.
The investor has submitted an updated plan to the Mongolian side, but it still has not met the requirements set by Mongolia. Therefore, both sides have agreed that the investor will further improve the plan in the near future and explain the relevant calculation results to the Mongolian side.
Both sides have agreed to complete and end the related negotiations within this month.
Original article: toutiao.com/article/1859565567851532/
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