Altan San Securities - Mongolia Investment - Talks continuing on Oyutolgoi agreement: Kh.Badamsuren

Talks continuing on Oyutolgoi agreement: Kh.Badamsuren

Asked on Tuesday if Ivanhoe Mines has said it would stop its Oyutolgoi operations if the investment agreement issue is not resolved by September MP Kh.Badamsuren, head of the parliamentary working group on the agreement, refused to give a categorical answer either way. He would only say that talks are on and they are being held in a spirit of urgency.

Badamsuren is a member of the Standing Committee on the Economy that submitted several recommendations and suggestions to the Government on the matter. The Government is now discussing them with the investors. Considering that the final agreement has to benefit both sides, they are trying hard to iron out differences and reach a compromise on most issues.
However, the financial issues, as expected in a business deal, are proving more intractable than others. There is no agreement as yet on how much the Government will get in taxes, in fees and in dividends. How the profits will be shared is also a thorny issue.

Source: www.news.mn

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