Erdenes Oyu Tolgoi Board to meet again
The Board of Directors of Erdenes Oyu Tolgoi LLC held a meeting to discuss the action plan for 2013 and to discuss the new CEO appointment for the company on December 25th. Erdenes Oyu Tolgoi LLC is the company that is responsible for holding the 34 percent stake of the large copper and gold Oyu Tolgoi project for the Mongolian Government.
Local reports say that former MP Ts.Sedvaanchig has been appointed as CEO of Erdenes Oyu Tolgoi LLC.
During the board meeting members of the Mongolian part submitted an offer to cut the expenditure budget of the company in 2013. Due to numerous issues to be discussed the board will meet again on Friday.
The board meeting is supposed to consider issues such as a petition submitted by the Minister of Mining initiated by some MPs in parliament and the 4.1 billion US dollar start-up investment in the Oyu Tolgoi project as well as the 4.3 billion US dollar investment planned in the first agreement.
Including these there are still a number of issues that should be discussed in the first board meeting in 2013.
Local reports say that former MP Ts.Sedvaanchig has been appointed as CEO of Erdenes Oyu Tolgoi LLC.
During the board meeting members of the Mongolian part submitted an offer to cut the expenditure budget of the company in 2013. Due to numerous issues to be discussed the board will meet again on Friday.
The board meeting is supposed to consider issues such as a petition submitted by the Minister of Mining initiated by some MPs in parliament and the 4.1 billion US dollar start-up investment in the Oyu Tolgoi project as well as the 4.3 billion US dollar investment planned in the first agreement.
Including these there are still a number of issues that should be discussed in the first board meeting in 2013.
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