Part of a transcription of today's parliamentary hearing on Oyu Tolgoi Investment Agreement

Bayarsaikhan, head of the Economic standing Committee of the Parliament (Democratic party-Umnugovi):
"Our committee has formed working group headed by Zandanshatar, the lawmaker and proposed to Government of Mongolia certain changes in the Oyu Tolgoi investment agreement.The working group proposed several appproaches to Government of Mongolia on negotiation with the investor.
The proposals included: ownership of golden shares, concession, through evaluation of the Oyu Tolgoi resources, Mongolia to own 34% and 50% stakes etc.
There are 2 versions of the Oyu Tolgoi investment agreement. 1st was 34% equity ownership and 2nd was Mongolia was to get all taxes without equity ownership.MPRP and Democratic Party groups agreed to take 34% equity ownerships."
Enkhbold Zandaakhuu (Democratic party-Uvurkhangai):
"What country other than Mongolia buys back its own resources and the provides tax incentives? It is very illogical....What if we gets sued for discriminating international investors.... We just should not be revising our tax laws because of a canadian company!!! We are doing too much for one company. I'm against passing this investment agreement as it is. I'm against this adventurism! Let's return this investment agreement for improvement??? What is wrong with that! It took 17 years for Russia to get conclude agreement on a deposit similar to Oyu Tolgoi!
Let's look around. Russians are far more wise than us.

Bayarsaikhan: This investment agreement negotiated according to Mongolian laws. We agreed in the Minerals law that state participation in state funded deposits shall be 51% and 34% in private funded deposits.We are not favoring this company. Everything is according to our laws and regulations.