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Turquoise Hill Resources Ltd. Message Board

  • elchunguito111 elchunguito111 Mar 20, 2014 4:18 AM Flag

    Mongolia look at resolution

    UPDATE 1-Mongolia says seeks to end Oyu Tolgoi impasse at parlament session

    Google it

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    • yes. thk u. its a reuters article published today 3/20. just google it as per original post.
      mongolia parliament begins its 3 month session on upcoming april 5, 2014 and article quotes govt official stating oyu tolgoi and resolution of impasse between rio tinto and mongol govt will be topic for this session of mongol parliament.

    • Unfortunately, the existing finance agreement will expire before the parliament reconvenes. I'm sure there will be additional cost to get the bankers to agree to another round of financing package, given the added headaches from dealing with GOM, and the fact that price of copper is much lower today than it was when the last finance agreement was worked out.

      • 2 Replies to necm500
      • "The Parliamentary session is scheduled to run from April 5 to early July, according to the minister."

      • Wrong! Parliament meets on March 24th. Whether there is a conclusion reached on the the new investment laws by the end of March is not the end all be all. A deal does not have to get done by then. Rio really is holding all the cards. GOM is on record as saying they will pass the new investment laws because they need foreign capital for the long run. GOM is also on record saying they require TRQ complete and submit a study on OT for future development. As a result, Rio can take its time to complete the study, while writing down the same assets and using that time as leverage against GOM. Bottom line -- Rio knows what OT and phase 2 is really worth.

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