It has been a year since the investment agreement was made between the Government of Mongolia and Ivanhoe Mines Mongolia Ink. But the two sides are still continuing the talks. According to Minister of Mineral Resources and Energy D.Zorigt, the negotiation is still on. Even though the Government decided to amend Oyutolgoi’s shareholders’ contract in scope of three issues and to pass it within 2010, the Ministers are still unable to resolve the issue today. The amendments come as follows.

– Take the expenditure rates of total investment by LIBOR or interbank loans rate of London banks instead of 11.7%. Total financing expenditure would be reduced to 6.8% this way.

– Change preferential shares after some MPs announced that Mongolian 34% ownership would be diminished to 7% and urged to take actions on this.

– Thirdly, include references in the contract that selling Oyutolgoi shares to third party companies must have permission from the Government of Mongolia. Our reporter talks to Minister D.Zorigt relating the issue.

-The Premier ordered to make the amendments before the end of 2010. Was it amended?

-The agreement has not been amended yet.

-What is the reason? It was said during a press conference that you already made agreements with the investors?

-Talks are continuing.

-Is it related to Mongolian side or investor’s side?

-There are many things that depend on investors’ side.

-What is reason of prolonging of investors agreement?

-There are some wording problems.

-How could people understand it?

-Some issues will be revealed during of talks.

-When will the agreement be amended?

-I think within January.