Civil societies demand to nationalize 51 percent of Oyu Tolgoi


2018-05-10 17:34 GMT+8

Yesterday, 35 civil society organizations headed by the National People's Movement for Rescuing the Country non-government organization presented a letter of demand to nationalize the 51 percent stake of Oyu Tolgoi to Armando Torres, CEO of Oyu Tolgoi.

In the letter of demand, it was warned of not conducting talks and signing agreement on the underground development as the open-pit mine, which is being mined until today has no returns to Mongolian people, and demanded to immediately stop its illegal action of hindering the working group, which was established under a decree issued by the Parliament Speaker for the purpose of inspecting and examining OT’s operations, and reviewing the Investment Agreement of OT. The letter also demanded the OT to run its operations in accordance with Mongolia’s laws and regulations.

“In addition, there is a demand for cancellation of the agreement or amend it by including a clause under which Mongolian citizens shall own the 51 percent and make other related clauses to be clear and transparent,” the letter emphasized.

“In the clause 6.1 of the Constitution of Mongolia and in the 1803rd resolution of the UN issued in 1962, the state of the wealth and resources shall receive majority of their wealth and resources,” Head of the Board of Directors of the National Movement Erdenebayar Aviermed underscored.

“Under the regulations of the shareholders’ agreement, Mongolia has to pay USD 3 million, which equals the cost of constructing 5 kindergartens, per day for settling the debt,” he added.

On Monday, MP and Chairman of Parliamentary Standing Committee on Economy Damba-Ochir Dorjdamba, former head of the abovementioned working group, submitted a letter of temporary dismissal from the head of the working group. On that day, the MPP group in the parliament discussed the request and appointed MP Terbishdagva Dendev as the head of the working group.

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