Minister of Industry and Mineral Resources G.Damdinnyam recently presented Cabinet decisions concerning the Oyu Tolgoi (OT) agreement, outlining the progress of two working groups established by the Prime Minister.

While the Ministry of Finance manages issues surrounding investment interest rates, Minister G.Damdinnyam is spearheading negotiations to reduce management fees and enhance project governance. He described the current dialogue as highly intensive, involving frequent communication and yielding concrete results.

A significant milestone in these discussions was the resolution of a seven-year deadlock regarding the project's loan agreement. The Minister affirmed that negotiations will continue until all government objectives are met, with a primary focus on ensuring that both interest rates and management fees are adjusted to meet international standards.

Furthermore, a new working group has been established to negotiate terms for the Entrée joint venture area. The government aims to conclude a new investment agreement that prioritizes Mongolia’s interests by shifting the fiscal framework. 

Published Date:2026-05-06