Prime Minister G. Zandanshatar has announced that the Government of Mongolia will submit formal demands to Rio Tinto to ensure Mongolia’s interests are fully protected in the Oyu Tolgoi project.
To oversee documents and actions related to safeguarding Mongolia’s interests and increasing the benefits derived from the exploitation of the Oyu Tolgoi deposit group, the State Great Khural established a temporary oversight committee. The committee organized an open evidentiary hearing from December 8 to 12, 2025, to examine and assess relevant evidence. Following the hearing, Parliament adopted a resolution providing specific directions to the Government on measures to be implemented.
In its conclusions, the parliamentary temporary committee found that the Oyu Tolgoi Investment Agreement and the Shareholders’ Agreement do not fully align with Mongolia’s national interests. It noted that the timeline for receiving dividends has been repeatedly delayed, project costs have significantly exceeded initial estimates—substantially reducing Mongolia’s returns—and that Mongolia’s participation at the decision-making level has not been meaningfully ensured. The committee also highlighted shortcomings in transparency.
At today’s Cabinet meeting, the Government discussed concrete steps to implement Parliament’s resolution titled “On Measures to Be Implemented Following the Special Inspection and Open Hearing Conducted to Safeguard Mongolia’s Interests and Increase the Benefits Derived from the Exploitation of the Oyu Tolgoi Deposit Group.” The Cabinet decided to formally approach the management of Oyu Tolgoi LLC and the leadership of Rio Tinto. In line with implementing the parliamentary resolution, the Government has also updated the composition of the working group responsible for negotiations with the project’s investors.
The Government intends to raise and seek resolution on several key issues within the framework of ongoing negotiations with the investor. These include aligning the terms of the Oyu Tolgoi agreements with Mongolia’s national interests; clearly defining the timeline for Mongolia to receive dividends from its 34 percent ownership stake; ensuring equal and fair treatment of shareholders; improving transparency and disclosure of financial statements and project costs; introducing independent audits; guaranteeing meaningful participation of the Mongolian side in decision-making; and strengthening parliamentary oversight over project costs and financing.
