The Government meeting yesterday reviewed the progress of work on the Oyutolgoi project. Minister for Minerals and Energy D.Zorigt said 7 of the 12 issues to be resolved in the six months before implementation begins have been resolved.

The working group set up by the Prime Minister has sought clarification from the investors on certain points raised by the Professional Council of Minerals and the reply is expected soon.

Audit inspection by an internationally recognized organization on the reported USD1 billion worth of investment will be over by March 15. Tax exemption claims are being assessed by the Tax Authority. The work should be finished within February.

Talks are continuing on the formation of the Administrative Board of the joint company and its modus operandi. The Mongolian side will have three members on the board.

 

Source: news agency