Mongolia and Rio Tinto Begin Official Talks on Oyu Tolgoi Project

The Government of Mongolia has officially begun negotiations with the Rio Tinto Group regarding the Oyu Tolgoi project agreement. These talks are part of the scheduled review that takes place every seven years to assess the appropriateness of the project’s shareholder loan interest rates.

During the first phase of the two-day negotiations, the parties reached a preliminary understanding to reduce the loan interest rate and to reconsider other terms related to the loan. It was agreed that the issue must be resolved by the contract’s final deadline of January 31, 2026. If no consensus is reached by that date, the negotiations will be extended accordingly.

Regarding management service fees, both sides agreed to seek a fair and internationally acceptable solution and to maintain the current composition of the working group throughout the negotiation period. Rio Tinto has taken time to review Mongolia’s proposals and plans to resume talks within November.