Editorial: Why the signing of Oyu Tolgoi Investment Agreement delayed!!

Some readers of Mongolianviews news site might be wondering "what the heck..two conflicting reports within one hour !" Yes. we reported first Oyu Tolgoi Investment Agreement is going to be signed tomorrow. Then we dropped the bomb, reporting "signing of Oyu Tolgoi Investment Agreement is delayed by one week". However, now reliable sources at the Ministry of Finance confirmed early speculation that the signing of Oyu Tolgoi Investment Agreement will be delayed by one week. The next date is Oct 6, 2009. By tradition, Mongolian people selects a "good" or auspicious day to start some activities or campaign. According to Mongolian Lamaist/Buddhist Calendar, Oct 6,2009 is a "auspicious" day good to start any great activities.
Also because of clause" The Agreement will be provided and executed in the Mongolian and English languages each in two original copies, which each Party retaining one copy in each language. The Parties agree that the Mongolian and English versions will be treated equally" the reviewing and verifying Mongolian translations against English takes longer considering lack of Mongolian words for Mining and Technical terms of the complex agreement .
The previous IA had clause" in the event of any legal dispute in the interpretation between the two-language versions, the English version shall prevail".

By Ganbat, MonInfo Reporter



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