The Media in Mongolia on Baker and Ivanhoe Mines

The aim of a recent visit of Mr. James A.Baker, former US Secretary of
State, to Mongolia has raised here many questions in the newspapers.
According to "Onoodor" daily, for example, Mr. Baker s trip to
Mongolia was misunderstood as a visit of the very first guest invited
to the celebration of the 800th jubilee of the Great
Mongol State. Mr. Baker with his son entered Mongolia with the
aim to save their family s business, to exert a pressure on a new
Government, and to act as a lobbyer for "Ivanhoe Mines" company. The
Bakers family has its own company "Baker Botts"--a lawyer to "Ivanhoe
Mines” which has been expanding its business in Omnogobi aimag
(province) for the third year. Saying he is visiting Mongolia (March
18-22) for the fourth time, Mr. Baker showed his four fingers, the
daily reads. This tour gave a sparkle to rouse a conflict of interests
in the Government. At the meetings with the Prime minister M.Enkhbold
and other high ranking officials Mr.Baker would demand them to
immediately conclude a stability agreement with the "Ivanhoe Mines" and
even threaten that otherwise all foreign investors would disappear from
Mongolia. At a press conference with the media at the Ministry of
foreign relations, Mr. Baker said that a matter of the stability
agreement was kept stagnant during the times of several Governments,
thus he came to give a help and assistance.
Also the Minister of
trade and industry B.Jargalsaikhan did not like the methods of Bakers
to run business. He clearly said he would not yield to their demands.
Such a position of him towards "Ivanhoe Mines" may lead to
confrontation in the Cabinet of Ministers. It is uncertain whether the
Minister will gather his council to discuss on making agreement with
the company and then held talks with the latter.

 According to the preliminary
calculation, the total minerals resource of the Oyu Tolgoi deposit is
1,149,160.00 tons including copper reserve of 32,850.00 pounds and a
gold reserve of 17,340.00 ounces. Moreover, 1,160,120,00 tons of
minerals might be available--copper of 26,200.00 pounds and a gold of
8,400.00 ounces.

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