Six outstanding issues left between Government and Rio Tinto

Ulaanbaatar /MONTSAME/ A recent Oyu Tolgoi Board meeting had resolved 24 out of thirty outstanding issues, Erdenes Oyu Tolgoi officials announced Monday. Six outstanding issues to be solved in the future in the shareholders’ level include a long hanging 2% royalty payable to Turquoise Hill Resources Inc, and reaching to consensus on the exact amount of cost overrun from the initial investment between the Government of Mongolia and Oyu Tolgoi LLC. Adding to these, Oyu Tolgoi is having trouble with preparing its Financial Statement approved by the Finance Ministry. Another issue waiting an urgent solution is Entree Gold Inc related costs that have been charged to the OT LLC and the Mongolian government, on which the sides have not reached an agreement yet. The Feasibility Study update is also under inspection by the relevant authorities of Mongolia, questioning its credibility.