Bayartsogt, the finance minister: now Oyu tolgoi investment agreement is to be reviewed by the National Security Council

Bayartsogt, the finance minister briefed the Mongolian press about outcome of the irregular cabinet meeting today.Delay of the Oyu Tolgoi agreement is due to Mongolian side and not due to Ivanhoe Mines, admitted the finance minister.
The minister told following to Mongolian journalists.
- the working group of the government is ready to present the Oyu Tolgoi investment agreement to National Security Council. (The council consists of the President, Prime Minister and Speaker)
- Earlier, the council wanted to clarify "nine issues" of the Oyu Tolgoi agreement. Now these issues are clarifed as additional information is given by the Ivanhoe and Rio to Mongolian side.
- Cabinet discussed the Oyu Tolgoi agreement and concluded that the agreement is ready to be presented to the council.
- Once the council reviews the agreement and gives go-ahead, full agreement will be disclosed to the cabinet members.
- We received from the Ivanhoe Mines and Rio Tinto Group information about their internal structure, shareholders, licenses etc.
-Ivanhoe Mines officially gave its agreements with Rio Tinto Group to Government of Mongolia.

The Minister did not specify when the council will meet to discuss the agreement as council sets the date for its meeting.He said" it beyond my authority to say when the signing of the agreement will be done. The date can be set after the council reviews the agreement. All I can say is the signing will be done soon.Regarding the procedures, first the council and then Government will review the agreement and then it will be signed."

By Ganbat, reporter of MonInfo News Service



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