An Investment Agreement on 2nd phase of OT project has been signed

The Government of Mongolia, ‘Erdenes Oyu Tolgoi’ LLC with ‘Turquoise Hill resources’, ‘Rio Tinto’ and ‘Oyu Tolgoi’ LLC have signed an Investment Agreement on Underground Mine Development and Financing Plan for 2nd phase of Oyu Tolgoi project.

Thus, it made it possible to initiate underground mining that accounts 80 percent of Oyu Tolgoi reserves.

Mongolian Government bond has been increased in value by about 3 percent after the signing the Agreement indicating increased positive attitude of international investors.

After the event, Mr. Saikhanbileg Ch., Prime Minister of Mongolia, announced that ‘We have settled the issues on Oyu Tolgoi project and we will work towards launching the Tavan Tolgoi project’.