Ulaanbaatar
Criteria updated for Oyu Tolgoi Board members to represent Mongolia
Politics
Ulaanbaatar /MONTSAME/. At its regular session of today, January 29, the Cabinet discussed criteria for members of the Board of Directors of Oyu Tolgoi LLC to represent the interests of the government of Mongolia in the Oyu Tolgoi mining project.
A working group formed upon the Mongolian Prime Minister’s resolution dated December 18, 2019, held its first meeting on January 23, 2020 and agreed to revise the eligibility criteria for the members of the Oyu Tolgoi LLC Board of Directors to meet the appropriate interests of the Mongolian side and to have an open call for the selection of the members, according to the Cabinet Secretariat.
A highly skilled individual, who satisfies general requirements of having sufficient experience, knowledge and understanding to make proper decisions based on the interests and missions to ensure the long-term and sustainable growth of benefits to be enjoyed by the Mongolian side from the Oyu Tolgoi project as well as other common and specific criteria, and with specialized expertise in finance, law and mining will be appointed as the member of the Board of Directors of Oyu Tolgoi LLC.
Since May 2010, the Mongolian side has assigned or dismissed a total of 13 people in the Board of Directors. Currently, former ambassador G.Batsukh is heading the Board, with former President N.Bagabandi and former CEO of Erdenes Mongol LLC Ts.Tumentsengel working as members, representing Mongolia.
In his interview for ikon.mn news website, Minister of Energy Ts.Davaasuren said the current Mongolian members of the Board of Directors could remain in their positions if they meet the updated requirements. “However, it is certain that they will be replaced” he continued.
