On 16th December, the Mongolian Government had a meeting with the investors of the Oyu-Tolgoi Phase 2 (underground mine). This was linked to the landmark signing agreement to support OT Phase 2 which took place yesterday.

Those present at the meeting included: Prime Minister Ch.Saikhanbileg. Mining Minister R.Jigjid, Director of the Government Executive Authority S.Bayartsogt, Energy Minister D.Zorigt, the President of Bank of Mongolia N.Zoljargal, the CEO of “Erdenes MGL” B.Byambasaikhan and the CEO of “Erdenes Oyu-Tolgoi” D.Ganbold. Also present were representatives of the investment banks, Turquoise Hill, Rio-Tinto, and the Oyu-Tolgoi.

At the beginning of the meeting, the Prime Minister expressed his appreciation to the investors in OT Phase 2, who have expressed their confidence in the Mongolian economy, during difficult times in the world economy.

The construction work on the underground mine will start in the first quarter of 2016. During the meeting, the investors and bankers reconfirmed their willingness to finance the project.