Rio Tinto Notes Mongolian Parliament Resolution on Oyu Tolgoi
11 Dezembro 2019 - 6:00AM
Business Wire
Rio Tinto notes the unanimous approval by the Mongolian
Parliament of a Resolution that instructs the government to look
for ways to improve the implementation of the Investment Agreement
of 2009, the Amended & Restated Shareholder Agreement of 2011
and to improve the Underground Mine Development & Financing
Plan of 2015.
The passing of this Resolution effectively re-confirms the
validity of all the investment agreements between the Government of
Mongolia, Rio Tinto and Turquoise Hill Resources. This brings to a
close an over 18-month review by the Parliamentary Working Group of
Oyu Tolgoi and the investment agreements governing the
business.
Arnaud Soirat chief executive Copper & Diamonds said “Rio
Tinto acknowledges the Mongolian Parliament’s Resolution and notes
that this effectively confirms the validity of all Oyu Tolgoi
investment agreements.
“Adherence to these agreements by all parties has underpinned a
total in-country spend of around $10 billion since 2010, which has
delivered significant benefits to the people of Mongolia and will
continue to do so for decades to come.
“There is a lot of work to do to ensure Oyu Tolgoi reaches its
full potential and we remain committed to exploring ways to deliver
even greater benefits from Oyu Tolgoi to all shareholders.”
The Resolution, includes other additional clauses in relation
to: exploring options to look at the Mongolian Government’s equity
share in Oyu Tolgoi; a re-definition of the reserve report and
updated feasibility report; a renewal of the environmental and
water assessments; and further capability development within the
team which represents the Mongolian party.
The Resolution was officially published by the Government of
Mongolia on 10 December 2019. A copy of the Resolution is available
at https://www.legalinfo.mn/law/details/14771?lawid=14771.
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