By B.Nyamsuren
One of the most closely watched political events of the week has been the parliamentary inquiry into the Oyu Tolgoi project, led by MP O. Batnairamdal. More than 300 individuals—many of whom held top government positions during the approval of the original investment agreement—have been summoned to testify. The three-day hearing seeks answers to major questions surrounding Mongolia’s ownership of its natural resources, the country’s share of the project’s benefits, and whether the Oyu Tolgoi agreement can be renegotiated.
Former Presidents Nambar Enkhbayar and Natsagiin Bagabandi, former National Security Council members D.Demberel and Z.Enkhbold, former Finance Minister S. Bayartsogt, and former Minister for Economic Development D. Zorigt appeared as witnesses. From the company side, Oyu Tolgoi Board Chair Sean Hinton, newly appointed CEO S. Munkhsukh, and former Mongolian Board representative E. Bayasgalan provided explanations and commentary. Several statements made during the hearing quickly attracted public attention.
Key Quotes from the Hearing
MP O. Batnairamdal, Chair of the Oversight Committee, sharply criticized the company for ignoring multiple summons:
“We sent six official letters asking Oyu Tolgoi’s executive management to attend, yet they refused to come. Parliament must be respected. The Oyu Tolgoi deposit belongs to the people, and the Oversight Committee represents the people.”
“We have collected 92,467 pages of evidence, but 54 percent of it is stamped ‘classified.’ Why has every page been marked with secrecy? This prevents us from speaking openly in today’s hearing.”
S. Munkhsukh, CEO of Oyu Tolgoi LLC, who has been in the position for only two weeks, said:
“I was appointed recently and will officially take over on February 1. I do not know all the technical details of the project’s 20-year history.”
“As for why we did not attend earlier hearings, the company made a collective decision. Negotiations on project financing and loan interest rates were ongoing, and discussing them publicly could have negatively affected the talks.”
“Regarding the classified documents—the materials are internal company documents. Not all internal information is meant for public release.”
Sean Hinton, Chair of the Oyu Tolgoi Board, added through an interpreter:
“The Board makes decisions by assessing three criteria: compliance with rules, whether all parties have sufficient information, and whether the decision is sound.”
“Before I became Chair, the issue of loan interest rates had already been under negotiation with the Government of Mongolia. These talks are still ongoing.”
“Some USD 20 billion has been invested into Mongolia to develop the project and bring it to a critical stage of full operation.”
Former President N.Enkhbayar spoke in detail about early negotiations before the 2009 presidential election:
“Since Oyu Tolgoi is a strategic deposit, Mongolia originally proposed holding 51 percent without debt, based on the Constitution. Rio Tinto disagreed, saying they discovered the deposit.”
“We maintained a firm position that Mongolia must eventually hold a majority stake. This understanding existed before the 2009 election. But after the election—which had signs of collusion—this position was reversed, and an agreement unfavorable to Mongolia was signed.”
Former Board Member E.Bayasgalan, who revealed new information about license transfers, stated:
“It is false to claim that the Board never makes pressured decisions. The resolution that transferred the two ‘Ontre’ licenses to Oyu Tolgoi was forced through.”
“Arbitration on these licenses was held without any representation from the Government of Mongolia, which even surprised the judge.”
“The issue of illegally extending exploration licenses and converting them into mining licenses is serious. The Mongolian public has the right to know.”
The hearing is expected to continue with further testimony and document analysis. Many view this process as a critical moment that may reshape Mongolia’s long-term approach to its largest strategic mining project.
Эх сурвалж: “Зууны мэдээ” сонин
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