President gives address regarding Oyu Tolgoi issues to State Great Khural plenary session

2021-04-12 10:57:05

Ulaanbaatar /MONTSAME/. On April 9, President of Mongolia Khaltmaagiin Battulga delivered an address at the plenary session of the State Great Khural.

The President said:

“Distinguished members of the Parliament, and

Dear citizens,

Within my full rights as the President of Mongolia, I have submitted a draft presidential decree on providing the Cabinet with instruction.

The strict lockdown, taking effect tomorrow (April 10th), is going to continue until April 25th, as the coronavirus situation is estimated to get worse. We are also in an anticipation of the tribunal hearing, expected April 30th of 2021, in which Mongolia participates as the respondent. For these reasons, I have submitted the said decree to the Cabinet.

It has come to the attention of my Office representative a week ago that the Mongolian Government is scheduled to submit a response by April 30th to the case raised by Oyu Tolgoi LLC as the claimant at the London Court of International Arbitration.

The legal consultant, one of the world’s leading law firms, to the Mongolian Government on the said case has been advising that “by filing a counterclaim indicating the serious evidences of corruption surrounding the Oyu Tolgoi agreement and the contracts, revealed by judicial processes in 6 different countries”, and that “Mongolia should file a counterclaim.”

In other words, by issuing the counterclaim, a sought for justice, as advised by its legal consultant, Mongolia can:

  • renew the agreements and contracts in connection to the Oyu Tolgoi project;
  • protect the fundamental interests of the country, and ensure equal and fair distribution of the benefit of the natural resources; and
  • maintain mutually beneficial and transparent cooperation with the investor.

As a result of the successful operations of national and international courts, as well as the prosecution and anti-graft agencies of Mongolia, the crimes of the network of people who have acquired enormous amounts of illegal possessions by misappropriating national wealth – natural resources have been uncovered. We, Mongolians, have been witnessing the benefits of these discoveries, as now is the high time that Mongolia presses on the investors with strongly founded demands.

Reconciliation of the Oyu Tolgoi agreement with just principles serves a great purpose to reviving the economic security of Mongolia, ensuring welcoming and fair environment for foreign investments, reassuring Mongolia’s prestige on the international stage, and setting foot in the new era with full confidence.

I believe in the ability of the ruling power to set aside their political interests and put first the common interests of the people, who they represent as the absolute majority, and accept and resolve the decree.

As we all know, the tangible yields from the wealth coming from Erdenet copper deposit and Salkhit silver deposit, and the positive attitude of investors towards the issue of revision of the Oyu Tolgoi agreement are all thanks to the Mongolian prosecution and anti-graft agencies’ efforts to combat white-collar crimes and identify illicit overseas assets.

This is a clear manifestation of our ability to make advancements in every field, if we unite our goodwill and put the common national interests first.

I ask You, distinguished members of Parliament, to pledge Your attention and support. Thank You.”

The Office of the President of Mongolia