If Mongolians don’t receive 59 percent of the profit of Oyu Tolgoi, we will take responsibility
On the 24th of October, Finance Minister S.Bayartsogt presented the documents and decisions that were made at the level of State Great Khural and the Government to journalists regarding the profit of Oyu Tolgoi.
Great Khural and the Government to journalists regarding the profit of Oyu Tolgoi.
On the 16th of July 2009, the 57th resolution of the State Great Khural on the Oyu Tolgoi Deposit was approved. “The investors will earn USD 25 billion from the dividend. They will receive the profit after the mining operation has started. But Mongolia will be granted a profit the moment the operation begins.
Therefore, there are more advantages on the Mongolian side,” said the Finance Minister. He continued, “I’m 100 percent sure that Mongolia will continue adhering to the contract. After the contract was made, President Ts.Elbegdorj said that Mongolia advanced with one step. If we fail, not only me, but also all Mongolians will fail. I’m confident because the International Monetary Fund and World Bank evaluated the contract by saying it will be a profitable contract for the Government of Mongolia. If we don’t receive 59 percent of the profits of Oyu Tolgoi deposit, we will take responsibility no matter what.”
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : UB Post
Great Khural and the Government to journalists regarding the profit of Oyu Tolgoi.
On the 16th of July 2009, the 57th resolution of the State Great Khural on the Oyu Tolgoi Deposit was approved. “The investors will earn USD 25 billion from the dividend. They will receive the profit after the mining operation has started. But Mongolia will be granted a profit the moment the operation begins.
Therefore, there are more advantages on the Mongolian side,” said the Finance Minister. He continued, “I’m 100 percent sure that Mongolia will continue adhering to the contract. After the contract was made, President Ts.Elbegdorj said that Mongolia advanced with one step. If we fail, not only me, but also all Mongolians will fail. I’m confident because the International Monetary Fund and World Bank evaluated the contract by saying it will be a profitable contract for the Government of Mongolia. If we don’t receive 59 percent of the profits of Oyu Tolgoi deposit, we will take responsibility no matter what.”
Please note that this article has not been written, is not copyrighted and does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant for information only to readers and does not constitute a legal or biding agreement in any way, shape or form. For contact and comments directly relating to the above article, please refer to the source as stated below.
Source : UB Post
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