Oyu Tolgoi is a copper-gold mine in the South Gobi region of Mongolia and it holds one of the largest undeveloped high grade copper deposits in the world.
The ownership structure of Oyu Tolgoi is:
- Erdenes Oyu Tolgoi LLC, representing the Government of Mongolia (34 per cent)
- Turquoise Hill Resources (66 per cent).
Rio Tinto indirectly owns approximately a 50.8 per cent interest in Turquoise Hill Resources. In December 2010, Rio Tinto became manager of Oyu Tolgoi.
Decision to dismiss the Oyu Tolgoi`s members of the Board of Directors who represent the Mongolian side including B.Byambasaikhan, D.Ganbold and Ch.Otgochuluu, have made on Sep 16th. However, an official statement have not yet delivered while the new appointment have not made yet.
B.Munkhbaatar, CEO of Erdenes Oyutolgoi LLC and the new CEO of Erdenes Mongol JSC are able to be appointed as the new members of the BoD. Third member of the BoD is unclear and rumors say that would be a politician.
The BoD of Oyu Tolgoi LLC and Erdenes Mongol JSC are scheduled to hold meeting on Sep 21st, which might be introduced the new members of the BoD.
Oyu Tolgoi is a copper-gold mine in the South Gobi region of Mongolia and it holds one of the largest undeveloped high grade copper deposits in the world.
The ownership structure of Oyu Tolgoi is:
- Erdenes Oyu Tolgoi LLC, representing the Government of Mongolia (34 per cent)
- Turquoise Hill Resources (66 per cent).
Rio Tinto indirectly owns approximately a 50.8 per cent interest in Turquoise Hill Resources. In December 2010, Rio Tinto became manager of Oyu Tolgoi.
Decision to dismiss the Oyu Tolgoi`s members of the Board of Directors who represent the Mongolian side including B.Byambasaikhan, D.Ganbold and Ch.Otgochuluu, have made on Sep 16th. However, an official statement have not yet delivered while the new appointment have not made yet.
B.Munkhbaatar, CEO of Erdenes Oyutolgoi LLC and the new CEO of Erdenes Mongol JSC are able to be appointed as the new members of the BoD. Third member of the BoD is unclear and rumors say that would be a politician.
The BoD of Oyu Tolgoi LLC and Erdenes Mongol JSC are scheduled to hold meeting on Sep 21st, which might be introduced the new members of the BoD.