As stressed by the Minister of Mining, discussions between the investors in the Oyu Togloi project and the Government of Mongolia are continuing normally. Development of the underground mine and financing and planning of the project are nearing agreement. 

In order to launch the underground mine, the two sides are discussing the feasibility study for the project, the investment agreement, and the shareholder's agreement.

As reported yesterday by Minister of Mining R.Jigjid, “The reason why the project has stopped was the financing of the underground mine."

The Board of Directors of Oyu Tolgoi have met and submitted the feasibility study of the underground mine to the Mongolian Mineral Resources Policy Council.  A working group headed by the Head of the Economic, Finance and Investment Department of the Ministry of Mining, N.Enkhbayar, is working on this Feasibility Study now and will reportedly present results soon. 

A team of analysts including 10 professionals from Rio Tinto Group are also joining in this review.