Ulaanbaatar
Prime Minister, Rio Tinto Copper Chief Hold Talks on Oyu Tolgoi
Politics
Ulaanbaatar, November 18, 2025 /MONTSAME/. Prime Minister of Mongolia Zandanshatar Gombojav met with Katie Jackson, Chief Executive of Copper at Rio Tinto, on November 17, 2025, to discuss optimizing Mongolia’s value proposition in the Oyu Tolgoi copper mining operation.
The meeting followed a virtual consultation held on November 11, during which both parties exchanged views on maximizing Mongolia’s economic stake in the project. Ms. Jackson’s visit to Mongolia enabled direct dialogue, helping to consolidate negotiating positions and foster mutual understanding.
During the discussions, both parties reiterated their shared commitment to reducing interest rates and management fees, which are key financial levers for improving Mongolia’s economic returns from the Oyu Tolgoi project. The bilateral working group has already reached an agreement in principle to lower the interest rate.
However, Prime Minister Zandanshatar underscored that the current management fee remains disproportionately high, characterizing the prevailing calculation methodology as inequitable and economically suboptimal for Mongolia. PM emphasized the importance of recalibrating the fee structure to reflect international benchmarks and prevailing market dynamics.
The Prime Minister further emphasized the critical importance of transparency in Oyu Tolgoi’s financial reporting and procurement practices, advocating for fair, open, and accountable operations as a foundation for sustainable, long-term collaboration. In response, Ms. Jackson reaffirmed Rio Tinto’s commitment to working constructively and expeditiously with the Government of Mongolia to achieve mutually beneficial outcomes through the ongoing negotiation process.
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