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Parliamentary Working Goup

Sunday, 14 February 2010 16:45

News flash

Parliamentary Working Goup >>> Parliament decided to establish a working group to further examine Oyu Tolgoi agreement ::: No official announcement on timeline yet ::: It will be a non-partisan, multi-party group  :::

Interview with Ch. Khurelbaatar

Sunday, 14 February 2010 16:45

News flash

Interview with Ch. Khurelbaatar >>> State Secretary of ministry of Finance, leader of the working group ::: License belongs 100% to Ivanhoe Mines (IVN) ::: The site was discovered by IVN ::: According to 2007 mineral law, Gov. can only get 34% tax maximum. ::: Windfall tax law deals with raw copper, IVN will produce processed copper, so windfall does not apply to IVN. ::: Current agreement suggests Mongolia will receive directly and indirectly 55% of profit. ::: If this parliament does not approve, the wait is for after 2008 elections. //

8 August 2007-2 Ivanhoe agreement

Sunday, 14 February 2010 16:45

News flash

Ivanhoe Agreement Update 2 >> MP's Z. Enkhbold and N. Batbayar of the Dem Party questioned the agreement working group members intensively. The leader of work group Ch. Hurelbaatar could not answer several key questions. ::: Minister of finance Bayartsaihan left thediscussion for a cabinet meeting, causing outrage among many parliament members.// 

Ivanhoe agreement - 3

Sunday, 14 February 2010 16:45

News flash

Ivanhoe Agreement Update 3 >> N. Batbayars questioned if exempting Ivanhoe for 5 years of wind fall tax of 68% is legal ::: Hurelbaatar replied that with a 68% tax Mongolia will not be able to attract any investors. :::: Calculated by today’s copper rate ($7972/ton) the tax exempt would be 4 billion dollars. ::: According to N. Batbayar the investment for oyu tolgoi is only 2 billion and he feels the tax exempt is against the law. //

Parliament discusses Ivanhoe Agreement

Sunday, 14 February 2010 16:45

News flash

Parliament discusses Ivanhoe Agreement  >> Democratic Party emphasizes the agreement will last for 80 years and shouldn't be rushed ::: The Standing Committee on Economic Policy will look further into the agreement ::: MP. Gundalai expressed his arguments against the agreement in a 20 minute long monologue //

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