In his speech at the opening of the autumn session of Parliament on Monday, Speaker D.Demberel stated his “strong” support for renegotiating the Oyutolgoi development agreement. He said, “We must consider increasing the Government’s share up to 50 percent.” The current agreement, ratified two years ago, gives the government a 34 percent stake in the project. A group of MPs has said the agreement “must be changed,” and demanded that the government’s share be increased.
In his speech, D.Demberel also outlined the agenda for the autumn session. It includes a draft law on the election, amendments to the constitution, the 2012 draft budget, and a package of laws dealing with judicial matters and property rights.
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kurus cepat
Absolutely right decision for Mongolian Government. Foreign Investors playing smart game with Brainless Mongolian officials! This is must be done 70% to Mongolian Goverment 5% legal right protection the rest 25% RIO TINTO. Before sign a contract research team should established at least for 2 years! And then just maybe to sign! Foreign Dogs play smart.
A negotiation is a negotiation, and an agreement is an agreement. You make a contract with someone , you SHOULD stick with the contract.Your own leaders screwed the pooch on this one, not the foreign nationals.
Rio Tinto is rip OFF! Goverment should press on this foreign hand OFF from our LANDS! 70% to Goverment and 5% to legal cotracts and rest 25% to RIO TINTO!
Mongolian people have to be very careful dealing with such matters and have to watch their government dealing with transnationals. 50 % share is the minimum a country can ask for THEIR resources. People should not let the Western multinationals pillage their land as it happened in too many Asian, Latin American and African countries.
The Mongols always come up with those type of demand when the market top has already been reached and is falling. They are becoming a very good contrarian indicator. The price of copper is falling like a stone. Renegotiate the terms of the IA? Should the World economy go into recession and the price of copper and gold continue falling, the terms of a re-negotiated IA could be worse than the original one. Have they thought about that?The investment agreement signed in 2009 was done without freely between the parties. Nobody was coerced. Does Mongolia have more than one word?Can Mongolia be trusted? It doesn't appear so.
Who r the hell r u? This is about the Mongolian property. I never heard about copper prize is falling. However, if it was true, then why we still take bad share (something like 34%) ? Fuck off!!!!
The prices are probably falling only because of the large amounts in Mongolian land! You have to take into consideration that 1/3 of the Mongolian population is impoverished and that the companies that they are negotiating with are transnational entities that are stationed in industrially developed countries like Canada and Australia.
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