The Government of Mongolia’s working group, established under the Prime Minister’s directive, and the authorized representatives of Rio Tinto Group successfully concluded the second round of negotiations on reducing the shareholder loan interest rate for the Oyu Tolgoi project.
As a result of the discussions, both parties reached an agreement to lower the interest rate. A protocol confirming the agreement was signed by Mongolia’s Minister of Finance, B. Javkhlan, and Rio Tinto’s Director of Business Development, Timothy Wilcox.
Following this milestone, the first phase of talks will temporarily pause as Mongolia’s side reviews additional terms and supporting information. Negotiations are scheduled to resume in November to further discuss the remaining conditions proposed by the Mongolian government.
