In Mongolia protesters fight agreement with Ivanhoe Mines

On March 17, “Resolute Reform” civil movement made a press release and announced that they are going to take the government to court. The civil movement protests against the stability agreement of the government and “Ivanhoe Mines” company.

According to the press release the group is not opposed to a stability agreement as such. But the Mineral Law hasn’t changed yet and processing it in accordance of Old Mineral Law status is a wrong action which is treading underfoot Mongolian people’s interests. “Resolute Reform” civil movement made a statement about this. In this statement “We are against of this agreement and we also going to take M.Enkhbold to Criminal Police Department urgently to finish this agreement 

The plaintiffs are G.Arslan and B.Batbaatar, from the “Resolute Reform” movement. According to their statement, the Mineral law currently indicates that foreign investment should be free of tax charge, for the first 5 years and for the next 5 years, there is a 50% cut on the tax rate. Based on this law, “Boroo Gold” mining company concluded an agreement to mine for 15 years and during the first 5 years export 43 tones of gold yearly. Oyu Tolgoi’s ptenetial revenuesare estimated at over 300 thousand million USD . Resolute Reform concluded, that in this light the stability agreement would "only" generate 7.5 thousand million USD of 300 thousand million USD.

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