Prime Minister U.Khurelsukh meets Rio Tinto CEO

2018-01-24 08:52:36
Ulaanbaatar /MONTSAME/ Prime Minister U.Khurelsukh urged for intensification of infrastructure development works within Oyu Tolgoi project, during his meeting with Rio Tinto CEO Jean-Sébastien Jacques in Ulaanbaatar.

“We need to work on Oyu Tolgoi project’s benefits to the Mongolian people and run the Oyu Tolgoi underground development efficiently,” said the Prime Minister at the beginning of the meeting on January 23.

The Oyu Tolgoi project is co-owned by the Government of Mongolia (34 percent) and Turquoise Hill Resources (66 percent). Rio Tinto Group has been managing the project since 2010.

The Prime Minister said, “We need to establish a joint working group. As a partner, the Government of Mongolia aims to increase the benefit of the project; hence, there is a need to reduce the project’s financial expenses and loan interest rate.”

Prime Minister U.Khurelsukh also touched upon infrastructure development works including the establishment of a power plant based on Tavan Tolgoi deposit in order to increase energy supply in the Gobi region, and the railway construction which will intensify coal transport and export.

For his part, Mr. Jacques informed about the opening of a new Rio Tinto office in Ulaanbaatar, which will support the company’s exploration programme and technology centre, while expressing supportive stance on the Prime Minister’s proposals.

The CEO expressed Rio Tinto’s readiness to cooperate with the Government of Mongolia on “creating long-term sustainable solutions that benefit all stakeholders and the country while staying true to the established investment frameworks”.

“Oyu Tolgoi is one of Rio Tinto’s safest and most productive mining businesses in the world. We remain committed to creating opportunities for talented Mongolians to build their careers on a global stage,” he noted.

The CEO also backed the Prime Minister’s proposal to establish a joint working group saying “We will continue to work together to solve outstanding issues as the joint working group progresses win-win solutions on matters such as power and community development.”
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