While copper prices remain high, Mongolia will propose to Rio Tinto, an Australian mining giant, to safeguard Mongolia's interests in the Oyu Tolgoi copper-gold mine.
Mongolian News Agency, Ulaanbaatar, January 8th. According to a government press office statement, the State Great Khural has established a temporary review and supervision committee to examine and supervise procedures and actions related to protecting Mongolia's interests in the development of the Oyu Tolgoi mine cluster and increasing project revenue.
The temporary committee held public hearings on relevant evidence from December 8th to 12th, 2025, and passed a State Great Khural resolution guiding the government to take subsequent measures after the hearings. The temporary committee's conclusions pointed out that the investment agreement and shareholder agreement for the Oyu Tolgoi mine did not adequately protect Mongolia's interests, the dividend distribution period was postponed, the project's profits significantly decreased due to cost overruns, and there was a lack of real guarantees for Mongolia's participation at the decision-making level, with insufficient transparency.
The government meeting held on the 7th of this month discussed the implementation steps of the resolution passed by the State Great Khural titled "Measures to be taken based on the results of the special review and public hearing conducted under the framework of ensuring Mongolia's interests in the development of the Oyu Tolgoi mine cluster and increasing its revenues," and decided to formally propose this to Oyu Tolgoi LLC and its investor Rio Tinto. In addition, the government reorganized the members of the working group responsible for implementing the State Great Khural's resolution and negotiating with the project investors.
Accordingly, Mongolia has decided to propose several specific suggestions within the framework of negotiations with the project investors to Oyu Tolgoi LLC and Rio Tinto, including making the relevant Oyu Tolgoi agreement terms conform to Mongolia's national interests, clearly defining the timetable for obtaining dividends on the 34% equity, creating conditions for equal benefits for shareholders, enhancing the transparency of financial reports and expenditures, conducting external audits, effectively guaranteeing Mongolia's participation at the decision-making level, and ensuring the State Great Khural's supervision of the project's costs and financing.
Original article: toutiao.com/article/1853735813355532/
Statement: This article represents the views of the author himself.