At the meeting of the Prime Minister of Mongolia, Zandanshatar Gombojav, with representatives of Rio Tinto and the Oyu Tolgoi project, details of negotiations regarding increasing benefits for Mongolia from this project and agreeing on a phased schedule to resolve remaining issues were discussed. This was reported by MiddleAsianNews.
The delegation from Rio Tinto and Oyu Tolgoi included Amarjargal Henchbish, director of the Rio Tinto representation in Mongolia, Munkhsukh Sukhebaatar, executive director of Oyu Tolgoi LLC, Dulamsuren Begzjav, deputy financial director of Oyu Tolgoi, and Andrew Laya, chief operating officer. The company also presented a response letter from the CEO of Rio Tinto Copper Group, Katie Jackson, confirming the intention to continue constructive dialogue.
Zandanshatar Gombojav, the Prime Minister of Mongolia, opened the meeting by emphasizing that according to the constitution, the majority of revenues from natural resources should go to the people of Mongolia. He expressed hope for a significant reduction in financing and management costs for the project.
According to statements from officials, Rio Tinto's management, including CEO Simon Trott, confirmed their readiness to continue open dialogue to ensure the stability of operations at Oyu Tolgoi.
In the response letter from Katie Jackson, CEO of Rio Tinto Copper Group, it was stated that the working groups established by the Prime Minister's decree are actively working with the company. They proposed specific measures to reduce interest expenses and management costs, which, according to officials, will lead to an increase in Mongolia's share of revenues from the project.
Munkhsukh Sukhebaatar, executive director of Oyu Tolgoi LLC, confirmed that the company generally supports the government's goals and is ready for active cooperation to enhance the benefits of the project for Mongolia.
The parties agreed on the need to intensify negotiations and to address issues step by step with the aim of reaching a final agreement, which is expected to be achieved in the first half of 2026.
Government representatives noted that this approach will allow for the phased resolution of technical, financial, and legal issues and ensure earlier benefits for Mongolia during the implementation of adjustments.
