The Government is asking Ivanhoe Mines Ltd. and Rio Tinto International Holdings Ltd. to renegotiate mining agreements. At Wednesday’s Government meeting, the head of the Cabinet Secretariat, Ch.Khurelbaatar, was told to send official notices to the two companies, asking that Mongolia’s share in their projects be increased, and for additional payments. Ch.Khurelbaatar was also told to invite officials from the two companies to engage in formal talks.

Also discussed at the meeting was a revised proposal for developing the Oyutolgoi deposit. The first proposal was rejected by the National Security Council.

After the meeting, Mineral Resources and Energy Minister D.Zorigt and Finance Minister S.Bayartsogt told journalists that the Oyutolgoi project is moving along, and that construction work at the site is 50 percent complete. The ministers said the Oyutolgoi agreement should give Mongolia a 50 percent stake in the project.