Prime Minister Zandanshatar Gombojav met on March 9, 2026, with officials led by Katie Jackson, the Chief Executive of Copper at Rio Tinto, and presented demands regarding the Oyu Tolgoi project.

In January 2026, Prime Minister Zandanshatar sent a letter to the management of Oyu Tolgoi LLC and Rio Tinto Group, outlining a number of conditions aimed at ensuring Mongolia’s interests in the Oyu Tolgoi project. In a reply dated February 5 this year, Simon Trott, Chief Executive of Rio Tinto, reaffirmed the company’s position to continue open and constructive negotiations based on the shared interest of ensuring the project’s long-term, stable, and successful operation. Following this exchange, officials led by Katie Jackson have arrived in Mongolia and presented their proposals on issues including management fees and the high interest rates on shareholder loans during the meeting with the Prime Minister.

Prime Minister Zandanshatar said that while it was commendable that Rio Tinto had shown respect for negotiations with the Government of Mongolia and arrived with certain progressive proposals, the suggestions were insufficient and therefore could not be accepted.

He reiterated that he remains firm in the position first expressed in 2009 that the principle of “mutual benefit” has not been adequately upheld in the Oyu Tolgoi project. Referring to Article 6.2 of the Constitution and Resolution No. 120 adopted by the State Great Khural in December 2025 regarding Oyu Tolgoi, the Prime Minister outlined the demands aimed at implementing these provisions.

The demands include:

Raising Mongolia’s share of benefits from the Oyu Tolgoi project to more than 60 percent.
Significantly reducing the interest rate on shareholder loans.
Lowering management fees and ensuring that Oyu Tolgoi LLC becomes operationally independent in terms of management from 2030.
Distributing dividends to Mongolia by 2026.
Resolving issues related to the licenses of Entrée Resources in accordance with Article 6.2 of the Constitution, which stipulates that the majority of benefits from natural resources must accrue to the people.

Prime Minister Zandanshatar noted that it is time to resolve long-standing issues related to the Oyu Tolgoi project that have been under discussion since 2009, including those that have remained unresolved following the 2019 constitutional amendments.

“There is a principle that the Mongolian people are the rightful owners of their natural wealth,” he said. “Under the current arrangement, Mongolia would receive dividends from the Oyu Tolgoi project only after 20 to 30 years, which does not align with the principle of mutual benefit. The idea that Mongolians should own their natural wealth is a right guaranteed to the people under the Constitution.”

Chief Executive Katie Jackson stated that Rio Tinto will continue negotiations aimed at increasing the benefits of the Oyu Tolgoi project and strengthening mutually beneficial cooperation, and expressed the company’s willingness to work with the Government of Mongolia.

Published Date:2026-03-10