Ulaanbaatar
Draft resolution to increase benefits to Mongolia from Oyu Tolgoi project to be considered urgently
Politics
Ulaanbaatar /MONTSAME/. At the regular meeting of the Cabinet on December 22, the draft resolution on Measures to be taken to ensure the benefits to Mongolia from Oyu Tolgoi gold-copper mine has been supported and submitted to the Parliament for urgent consideration. It was stressed by Minister of Justice and Home Affairs Kh.Nyambaatar during a press conference to present the decisions of the Cabinet meeting.
Following
measures reflected in the draft resolution:
- To write off Mongolia's USD 2.3 billion-debt for its share
(34 percent) in the Oyu Tolgoi copper-gold project.
- To terminate the Oyu Tolgoi Underground Mine Development and
Financing Plan, known as ‘Dubai Agreement’ and conduct an independent audit
into the financing of the project's underground expansion;
- The costs required until the first half of 2023, when the underground mine is commissioned, shall be covered by the investors, not incurring additional debts to Erdenes Oyu Tolgoi LLC;
- To supply electricity for Oyu Tolgoi project from the energy grid of Mongolia
- To ensure the implementation of tax acts
Today the draft
resolution is planned to be discussed by the Temporary committee in
charge of taking control on the implementation of the
parliamentary resolution No.92 dated November 21, 2019, on ‘Ensuring the
interests of Mongolia in the exploitation of the Oyu Tolgoi gold-copper mine’, developing proposals if necessary and presenting its results at the plenary
meeting.
Minister of Justice
and Home Affairs Kh.Nyambaatar emphasized that if the resolution is
approved and gives authority to the Government, more than 10 documents will be
developed and the arbitration disputes between the two sides will be resolved
amicably.
