Uchral Nyam-Osor, Prime Minister of Mongolia, announced on September 11, at a joint briefing with Simon Trott, Chief Executive of Rio Tinto, who was visiting Mongolia, that the Oyu Tolgoi Shareholders' Agreement had been changed for the first time in 17 years to increase Mongolia's benefits.

After prolonged negotiations between the Government of Mongolia's working group and the Rio Tinto Group, the two sides reached and finalized an agreement with the investor to increase Mongolia's benefits from the Oyu Tolgoi project and substantially reduce costs. This created the conditions for the first major amendment to the Shareholders' Agreement in 17 years. The parties also agreed to move up the timeline for distributing dividends to the Mongolian side from the Oyu Tolgoi project to 2027.

According to "Chinggis Khaan Sovereign Wealth Fund" LLC, preliminary estimates indicate the negotiations will reduce Oyu Tolgoi LLC's management costs by USD 8.4 billion, or around MNT 30 trillion, while increasing Mongolia's benefits over the mine's total operating life by around USD 4 billion, or MNT 13 trillion.

Oyu Tolgoi LLC said in a statement: "Within the framework of negotiations on Oyu Tolgoi shareholder matters, the Government of Mongolia and Rio Tinto reached an agreement on reducing management service costs and lowering the interest rate on the shareholder loan. Today, the parties formalized these agreements and signed the relevant contracts and documents, confirming their joint commitment to distributing Oyu Tolgoi's dividends to shareholders in 2027. Munkhsukh Sukhbaatar, Chief Executive Officer of Oyu Tolgoi, said, "This progress is not the result of one side's effort alone, but a joint achievement. Today's step became a reality through mutual trust, open dialogue, and solution-focused cooperation."

Published Date:2026-09-14