Cabinet endorses Oyu Tolgoi agreement, sends to Ikh Hural for approval

On March 2, Prime Minister Sanj Bayar’s cabinet approved the draft Oyu Tolgoi Investment Agreement with Ivanhoe Mines and resolved to present the agreement to the State Great Hural (SGH) for approval. The Mongolian National Security Council also reviewed the draft and approved it in principle. The cabinet authorized the Ministers of Finance, of Mining and Energy and of Environment and Tourism to initial the agreement in behalf of the GoM.

The Investment Agreement is a comprehensive contract to facilitate construction and development of the Oyu Tolgoi copper-gold mining complex in the south Gobi. Before it can take effect, the agreement must be approved by both parliament and the board of directors of Ivanhoe Mines.










Headframe and hoist room under construction at Oyu Tolgoi project