At the meeting of the temporary parliamentary commission responsible for protecting Mongolia's interests regarding Oyu Tolgoi, information was heard from various parties.
Gongoryn Damdinyam, a member of parliament and the minister of industry and mineral resources, heads the working group tasked with negotiating with investors. The group will address key issues and present results to the parliament to determine the state’s share in the shares of the company "Ontra," which holds special licenses for the development of minerals in Oyu Tolgoi in accordance with Mongolian legislation.
The minister sent an invitation to the company "Ontra" to participate in the negotiations, to which he received a positive response.
“All preparations for the negotiations are complete. At the end of October, the company 'Rio Tinto' decided to send a team of 10 specialists and provided the relevant information. 'Ontra' expressed a desire to conclude an agreement for a 34 percent stake, based on its 20 percent share according to the profit-sharing agreement signed in 2004. However, the working group, formed by the decree of the Prime Minister of Mongolia No. 73 of 2025, has put forward a position of 100 percent,” the minister reported.
Recently, a subgroup supporting the working group, created by the decree of the Prime Minister of Mongolia No. 67, conducted calculations of interest rates on loans, based on data from international credit rating agencies, and analyzed the financial performance of the company "Oyu Tolgoi." It is also engaged in analyzing loans and bonds placed in international markets.
Mongolian representatives officially proposed to the company "Rio Tinto" to hold negotiations from October 27 to 31, 2025, to which "Rio Tinto" agreed.
Additionally, independent consultants, as well as groups of researchers and scientists, are conducting baseline calculations and studies of interest rates on loans and organizing events to verify the data of the working group.
The working group, which is determining the state’s share in the shares of "Ontra," actively collaborates with subgroups working on issues related to mining, environmental protection, contracts and legal aspects, as well as economic, financial, and tax issues.
Odgonsharyn Batnairamdal, the head of the temporary parliamentary commission, emphasized the importance of adhering to the Constitution and legislation of Mongolia, as the negotiations take place on the territory of the country and concern its subsoil. He also noted that the parliament and government maintain a unified stance on issues related to the "Oyu Tolgoi" project.
