On Sunday, the Prime Minister of Mongolia Mr Ch.Saikhanbileg delivered a speech addressing the people to highlight his cabinet’s three-month works.
Touching on the foreign investment issue, he said that after hard and long negotiations two sides or Mongolian government and Rio Tinto group have finally come to mutual understanding and reached a principal agreement on launching the exploitation of Oyutolgoi underground mine. The decision about it will be officially announced just after final details worked out.
After the agreement is signed by two sides, world’s biggest 14 banks will invest 4.2 billion USD to the Oyu Tolgoi underground pit project. It shall boost not only Oyu Tolgoi’s operations but also it will open new opportunities for the several hundred domestic companies to generate income by actively getting involved in the great construction.
Prime minister also noted that the two sides or Mongolian Government and the Consortium consisting of Shenhua company from China, Sumitomo group from Japan and Energy Resources company of Mongolia have also managed to reach consensus on several principal matters. Tavan Tolgoi project negotiations have moved into the final stage and are about to be concluded. According to him, at its next meeting, the Government will make a proper decision about the outcomes of negotiations and officially announce the start of the Tavantolgoi project.
The implementation of the Tavan Tolgoi project shall go from dispute to actual work, unlocking the 6 year stagnation of the railroad construction and turning it into reality.