Mongolia to Submit Demands to Rio Tinto on Oyu Tolgoi Project

The Government of Mongolia will submit formal demands to Rio Tinto Group to safeguard Mongolia’s interests in the Oyu Tolgoi copper and gold project.

A temporary parliamentary oversight committee was established to review the project agreements and assess whether Mongolia is receiving adequate benefits. The committee conducted public hearings from 8–12 December 2025 and subsequently issued recommendations to the Government.

The committee found that the investment and shareholder agreements do not sufficiently serve Mongolia’s national interests. It noted that the schedule for Mongolia to receive dividend payments has been postponed and that overall project returns have decreased due to cost overruns. The committee also reported limited transparency and restricted participation by the Mongolian side in decision-making processes.

At its meeting on 7 January 2025, the Cabinet reviewed the steps required to implement the committee’s recommendations. The Cabinet resolved to formally approach Oyu Tolgoi LLC and Rio Tinto and approved changes to the Government’s negotiation Working Group to facilitate further talks with the project’s investors.

The Government will seek revisions to clarify the timeline for receiving dividends from Mongolia’s 34 percent equity stake, ensure equal treatment of shareholders, strengthen financial transparency, and introduce independent audits.