Ot Investment Agreement

The fact is that it is important to understand that, since the day the OTIA was signed, the government has obtained benefits through taxes and royalties, the employment of Mongolian citizens and the purchase of local suppliers (see above). Dividends offer an investment return and nothing more. They are not a compensation for the richness of the soil. Dividend flows are more variable and fuelled by mine performance and market conditions. Terbishdagva Dendev, head of a parliamentary working group that was set up last year to verify the implementation of the Oyu Tolgoi agreements, told reporters this week that the group had concluded that the initial 2009 agreement needed to be revised. ACCORDS can be executed in the form of a cooperation agreement or other types of support transaction as financial assistance or cooperation agreement; Z.B. as Research Other Transaction (OT) – 10 U.S.C. “It will be very difficult to end the underground mine plan, because it must be done by mutual agreement,” said Otgochuluu Chuluuntseren, an advisor to the Mongolian Center for Economic Policy and Research on Competition and a former government official. At the session of Parliament, a total of 46 MEPs voted in favour of a draft resolution to guarantee Mongolia`s interests and rights in the exploitation of the Oyu Tolgoi (OT) deposit. The resolution contains eight articles on the development of agreements on the Oyu Tolgoi. Detailed information can be found in copies of the agreements below. Differences of opinion between the Mongolian government and Rio Tinto intensified in 2013, when the government pressed Rio Tinto to settle the US$340 million tax issue and cost overruns, which rose from $5.1 billion originally planned to $7.1 billion in the initial phase of the project.

[17] In July 2013, shares in Turquoise Hill Resources (the Rio Tintos unit, which controls 66% of the mine) fell 20% following a dispute between Tserenbat Sedvanchig, managing director of Erdenes Oyu Tolgoi (the state-owned company that controls the remaining 34), and Rio Tinto. Sedvanchig was fired in August and replaced by Davaadorj Ganbold, a former deputy and deputy. [18] Meanwhile, Rio Tinto withdrew mining to 1,700 Mongolian employees. [17] Fact: The main agreements (AI, ARSHA, UDP) were negotiated in good faith over a long period of time and in accordance with Mongolian laws. Today, they form the basis of TRQ and Rio Tinto`s multi-billion investment in OT and Mongolia. We believe that the agreements reflect the compromises that have been reached between the parties in the negotiation process and are fair and reasonable for all parties. The government consulted with specialized advisory services throughout the negotiation process. Before deciding that an AIT is appropriate, you should also consider that the use of an AIT could benefit defence research objectives in a way that would probably not occur if another type of support instrument were used (. B, for example, a cooperation agreement subject to all the requirements of 32 CFR Part 34).

Uyanga, an MP, announced that former Prime Minister Sanjaagiin Bayar, who signed the OT investment agreement with three members of his cabinet, owns seven properties abroad, on behalf of his daughters, ex-wife and girlfriend, worth several billion dollars. However, S.Bayar asked the Independent Agency to be able to investigate corruption. In his application, he said: “Recently, the media reported possible money laundering by buying a number of real estate abroad, with the sources I have, Bayar Sanjaa, abused my position as Prime Minister and that I lobbied to approve the Oyutolgoi agreement.

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