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The Government of Mongolia has formally called on Rio Tinto to revise the financing terms of the Oyu Tolgoi project, including reducing shareholder loan interest rates, lowering management fees, and improving the project’s overall economic returns for Mongolia.

Prime Minister Uchral N. stated that the Government expects the project to deliver a fairer share of benefits to the Mongolian people. He noted that although Mongolia was expected to receive 53% of the project’s economic benefits, actual returns have remained at only 21–35%, while no dividend has yet been distributed.

📉 Key proposals presented by the Government include:

• Reducing shareholder loan interest rates.

• Lowering management fees and other project-related costs.

• Shortening the review cycle for loan interest negotiations from every seven years to every three years.

• Increasing Mongolia’s long-term economic returns from the project.

⚠️ Prime Minister Uchral emphasized that continued cooperation will depend on meaningful progress in the negotiations.

“If these issues cannot be resolved and the Government’s proposals are not accepted, it will be difficult for us to continue our cooperation under the current framework,” the Prime Minister stated.

Finance Minister Mendsaihan Z. announced that negotiations have already reduced the shareholder loan interest rate from 10.5% to 7.9%. The parties also agreed to shorten the interest rate review period from seven years to three years, creating more flexibility for future financing discussions.

Minister of Industry and Mineral Resources Damdinyam G. added that negotiations are continuing on management fee reductions and broader governance improvements, with the objective of increasing the long-term value generated for Mongolia.

💡 Ard Insight

The Government is seeking to improve the financial structure of the Oyu Tolgoi project to increase Mongolia’s economic returns while maintaining a long-term partnership with Rio Tinto. The outcome of these negotiations could have significant implications for the project’s future governance, financing, and the distribution of benefits to Mongolia.

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